Is there a second market?
As soon as I figure out a simple and efficient way of posting a NAV, and also getting more buyers of the coin which would add liquidity, I think it'll allow for a flourishing second market.
Here's what I'm thinking short-term: As soon as I wrap up this trade (1-2 more days) I'd like to test out a distribution and then I'd like to open up the JLTRADINGCOIN issuance again and if I have time I'd like to amp up marketing of this thing. There is definitely a niche for a 'crypto portfolio' management-type services for those who don't have time to research all these cryptos or watch the charts.
Let me know in PM when you want to do so, i might be able to help in that aspect.
Furthermore, with the massive amounts of scam coins recently, and the overall bearish market, I think a lot of new money has become disillusioned with cryptos.
So true, that is why you should be extra careful, since the value of your issued asset is merely based in our trust on you as TA artist and trader.
I'm considering moving this over to the Announcement threads to get more eyeballs and I could pretty easily get some crypto-articles written about what I'm doing.
I strongly suggest you to do it only when all the procedures are finished, tested, possible bugs/problems polished, and optimally with already some positive results, so the argument will be a valid one to invest into, and most appealing to the main public.
Medium-term (1-3 months?) I'd like to sell out all of the initial 100k coins which would leave a decent-sized fund to trade with (40-50 BTC perhaps) and then I could easily start doing a daily NAV posting each evening (USA time).
Sounds great! Hopefully more than that. Please remember that your project is also helping VIA grow, since the only way to access to purchase the assets is XCH. Good choice IMO.
With daily NAV postings and more attention on it I imagine people would start asking for some sort of 3rd-part audit of funds just to make sure there wasn't really a ponzi-scheme going on (I hate to say it but I may have opened a Pandora's Box for all sorts of potential fraudsters to take advantage of).
Nicely thought, it is going to be requested soon or later as returns start to flow, 100% guarantee, so the sooner you are ready to adopt this procedure, the better/more professional image your project will give to investors.
Long-term (6-12+ months) I left coin issuance open-ended; so even though I set an initial limit of 100k coins I could raise that to whatever I feel I'm capable of trading, while also not completely becoming too big of a trader for the alternate crypto market.
Please be careful with this. Like you've said, is a long term step and many things will happen till we get to that point, but open-ended sounds to me like a high devaluation for the asset. My suggestion would be to let the 100k flow first for a while, if successful, the asset will greatly increase in value (due to shares limit:return ratio) and after that you can choose what is best, I am guessing that if you really come to the decision to increase the number of assets you will have to add value also, after all and even if this is a very experimental project (for crypto), please do realize that the actual investors are depositing VIAs based on the fact that there is a 100k limited shares.
If (hopefully) the time comes when you feel that the ±50 BTC operating funds are getting small, you could step up to a higher grade organization, a trading agency of some sort perhaps. If properly consolidated it could have a bright, bright future.
For now, let's see what the present give us.
Thanks for reading,
Eth.