BItshares(TM), the company, owns everything including their shills. It's possessive moron.
Glad you're still around Stan. I was worried that I was going to have to find a new form of entertainment.
How can Stan (or anyone else) defend BTS if you can't hold a serious conversation?
I've stated numerous times that attempting to peg a virtual, non-redeemable derivatives contract to the price of a physical asset is doomed to fail because the "bitAsset", as you like to call your derivatives contracts, have none of the attributes (aka intrinsic value) of the real asset. I also think it is highly unethical to advertise your BTS derivatives contracts as "assets" and claim that they're "Safer than a Swiss Bank Account". Imo, this whole BTS garbage is a blatant money grabbing attempt by I3 directed towards those who don't have a firm grasp of economics. Mark my words, the pegs will fail and the people who will lose money will be those who can least afford to lose it.
At a high level BitShares themselves are the value place holder are they not? BitShares, just like Bitcoin holds value while being a complete virtual object.
How far down the rabbit hole do you want to go?
http://bytemaster.bitshares.org/article/2015/01/15/Is-Fractional-Reserve-Banking-a-Ponzi-Scheme/