Bitquence
Vision First, that’s one hell of a run-on sentence. Second, people won’t be powering the economy in the future, that will be the job of robots. I for one welcome our new robot overlords and you should as well. All kidding aside, this is as broad and generic as you can get, I give it a 0/10 SBPs. What are SBP’s you ask? Satoshi Brownie Points of course. Have you not heard of them? Click Here!
Team They claim to have an experienced and enthusiastic team that have in their words, “built multiple award-winning applications”. If that is the case, then list them. Go on. List those apps. Ill give them 1/10 SBPs.
Problem
Let’s hit these one by one: Choosing between an ever growing array of crypto currencies That might be seen as Professional Financial Advice. Ya’ gonna need a disclaimer here bro. Understanding attributes across different crypto assets Same as above but it’s more vague if that can be deemed financial advice. So it’s OK for now. One-click diversification into multiple crypto assets Diversification does not reduce your risk per se. Diversification into different assets is what lowers your risk potential. So having stocks, bonds, precious metals, cryptocurrencies and real estate would be considered having a diversified portfolio. Just holding a bunch of different stocks or cryptos does not hedge against risk if the broader market falls significantly. Note: Don’t take this as financial advice, go find a certified financial planner or advisor.
A Safe and Secure mobile wallet that handles multiple keys Being able to easily transfer value across multiple assets If you mean multiple crpto assets, which is what I think you are meaning, we have Jaxx. Jaxx is a wallet that supports multiple cryptos and has shapeshift, so you can convert your coin into another coin from the wallet. We also have hardware wallets like Ledger Nano S or Trezor as well. Let’s not even mention Mycelium, because that would be unfair. The table is incorrect on a lot of things, like Mycelium does offer cold storage for one. If you cannot even be bothered to check out a big competitor, why the fuck should I give you any money?
I give this -1/10 SBP. Bad Whitepaper.
Three sentences and not one of them explains how you will solve the problems you listed. 0/10 SBP
Market Background Yes the global economy is indeed, massive. Here we get a glimpse of what you want to actually do: Let people buy a pre-diversified basket arrays of their choice. So you in essence determine what baskets they can buy. If you don’t think that this sort of portfolio management might lead to manipulation in picking a “garbage coin” by the developers before they announce a new portfolio to enable them to in essence “pump” said coins price up in order to profit off their new collective buying power, I got an underwater basketweaving class you can sign up for online to sell you.
Liquidity Network’s are so hot right now Low liquidity in a market means that the bid price and ask price are fair apart, so far that seller’s wont have to give up “unrealized gains” to be able to offload their asset/security. The only low liquidity markets that exist in cryptos are the “garbage coins”, coins with probably less than $1million USD in volume in a 24 hour period (its probably closer to less than $300k USD), and “Atomic Swap” networks where it is peer-to-peer only. How are you goanna solve a problem that does not exist? The Bitquence Token “In the future, Bitquence Tokens may be used to send value, like PayPal” Let me tell you one thing right here right now. Just because you claim you are not a security, does not mean the SEC will not investigate. Also, I don’t think it is a security, again not legal advice or anything, but this is probably a commodity. The CFTC has jurisdiction over these matters, so honestly, who knows. I can say this though: the three things listed that these BQX Tokens will do, does not require a token. Payment Mechanism: No reason you need a token to do this Pay for Transaction fees and API calls: See above Enable Liquidity: If your market does not have enough liquidity, maybe join a bigger market with liquidity, like let’s say Ethereum, or better yet any coin in the top 100 of market cap. Liquidity, again. Counterparty risk will be absorbed by Bitquence. I do not know what you mean exactly by counterparty risk, but if you mean taking on the default risk of people buying on margin, this is a non-trivial implementation. Businesses pay millions of dollars for portfolio management systems like SSC’s Geneva. This is territory the CTFC would be greatly interested in, as counterparty clearing and brokerage is regulated. Oh I forgot about the SBP’s, maybe because I have not been using them, here have 1/10 SBP.
The fact that services like Augur (predictions) Universal Wallets (Jaxx/Mycelium), and mobile app’s already exist should not dissuade you from pursuing this truly terrible idea. The prospect of spending an indeterminate amount of time for securities and investment fraud should.
Also, if you want to hold a “diversified” basket of cryptos, why the fuck do I need you? Either you are offering Investment Advice, or you are not. If you are not then what makes you so much better than the free youtube videos I can watch online?
Total amount of SBPs Hell lets give them 2.5 out of a total of umm, 30? They bullshit this whitepaper, might as well bullshit this point system I just made. You will have to get my IceBox'd MultiSig RSA Encrypted wallet tho.
Their original whitepaper: http://www.bitquence.com/wp-content/uploads/2017/05/BitquenceWhitePaper.pdf Accessed 10-27-17
On a positive note, I really like the economic model of Satoshi Brownie Points considering how many shitty whitepapers I have seen.