If you haven’t heard of BitSharesX, you are missing out on a major piece of crypto history in the making.
BitSharesX is one of the first offspring of Invictus’ Protoshares DAC initiatives. I probably threw 3 or 4 things at you all at once. Let’s break it down to make it easier to process:
Invictus - The company behind this particular brand of DAC.
DAC - Distributed Autonomous Corporation - It’s a fancy way of saying a corporation, but these corporations do not require any country or government to endorse them. They have stock in the form of a blockchain. The shares are decided upon and traded on your typical crypto exchanges.
Protoshares - I like to think of these shares as an Angel Fund that anyone can invest in. Invictus created a blueprint to allow anyone who has an idea to start a company by essentially copying their blockchain with custom parameters. What’s the catch? Protoshares owners get a 10% stake in that new company.
Angelshares - If protoshares lays down the blueprint, Angelshares provides for some initial funding, real dollars that the owners can use to help build the business before it’s off the ground. You can buy Angelshares with Protoshares (or with Bitcoin). If I understand correctly, the ability to purchase AngelShares will expire shortly. AngelShares owners collectively also receive 10% in any company that elects to take this funding.
BitSharesX is a DAC that will likely be the poster child for all DAC’s coming from Invictus. BitSharesX is an online distributed trading platform. It’s what they are trading that is so amazing. They set up an online marketplace that, through puts and calls, allows users to trade BitUSD, BitGold, BitSilver and many more to follow. Imagine being able to move your BTC to BitUSD without actually cashing out to a greenback? It’s easy to envision a world where every stock is tracked as a crypto derivative. If you think it’s pie in the sky, you need to look again.
BitSharesX trades on BTER.com as BTSX. It’s doubled in value since last week. There are 2 billion shares and no mining or printing. What’s it worth to be able to have the instant transactions and flexibility of crypto with the valuation of the underlying commodity or currency. Is your mind spinning yet?