1004500+ entries in 0.799s
BTC-Mining: You can
then
trade
those coins for Bitcoins at whatever rate you wish.
BTC-Mining: Well colored coins could work if
they were on
their own blockchain and were not divisible (1 coin = 1 share) and not recolorable.
mircea_popescu: rather
than put each egg on
top of a
traffic light, you might be better off putting all eggs in one basket and watching
that basket.
mircea_popescu: BTC-Mining
the costs of maintaining
this are non
trivial.
BTC-Mining: If
the exchange fails, no other security is affected.
BTC-Mining: bah, best yet, have each issuer have
their own 1 security exchange script and let people
trade on it.
mircea_popescu: there's any number of ways
to implement a p2p exchange,
this one's pretty much a hack.
mircea_popescu: this may be a good point, but
the problems are
technical not political atm.
matthewh3: once bitcoin market cap goes up
the governments will be interested and central exchanges will be
the first
target. with coloured coins p2p exchanges are possible.
mircea_popescu: (there's
the problem of chainbloat, if you have 100 chains of 2gb each going on your hdd)
mircea_popescu: and
then
those mgiht want
to only run 1 chain for all
the assets
they manage
mircea_popescu: tho it's quite
the barrier
to entry
to new issuers, so
there would be requirement for specialised issuers
to service
them
mircea_popescu: BTC-Mining
this may work, especially with merged mining
BTC-Mining: I'm in favor of each company issuing
their own centrally managed blockchain and leaving Bitcoins alone.
mircea_popescu: if i
thought
the idea has any merit i could go in and dominate
the lot of you lol.
matthewh3: goes against your Mpex maybe but coloured coins and smart property are
the future of bitcoin
mircea_popescu: dude you can't be creating medieval-style
tokens of indivisible ownership
BTC-Mining: Yes. Now
the coins you colored have 2 colors.
mircea_popescu: now a guy holding
that double colored coin can't get rid of only one of
the
two
mircea_popescu: BTC-Mining so
then i could color some active companie's coins with my own colors, arbitrarily
BTC-Mining: Just part of
them and
those get recolored.
BTC-Mining: No, because you don't have
the coins from all shareholders
mircea_popescu: matthewh3
that's nonsense. bitcoin is bitcoin, not stock exchange.
matthewh3: coloured coins and smart property are
the future
BTC-Mining: <mircea_popescu> otherwise i inject shareholders into my new company
that have no relation
to it (provided
they kept
their original PPT.A colored coins)
matthewh3: central stock exchanges defeat
the very idea of bitcoin
mircea_popescu: otherwise i inject shareholders into my new company
that have no relation
to it (provided
they kept
their original PPT.A colored coins)
BTC-Mining: Because if you have dead coins in your possession, you can retag
them again for another company I guess.
mircea_popescu: can i use
those satoshis for my new company ? no, i can not,
they have
to be dead forever.
mircea_popescu: suppose PPT.A issued colored coins,
that's some satoshis colored with PPT.A
mircea_popescu: this means
there will never be more
than 21`000`000`0000`0000 shares in
total, of everything.
matthewh3: then people can
trade
there ownership
mircea_popescu: tieing
total float
to
total satoshi float is impossible.'
matthewh3: no
the coloured coins are kept in
there own blockchain.info/wallet and dividends go where you want
mircea_popescu: not only
that, but here's a problem : if someone makes 1bn shares of something,
this means 1bn satoshi are now out of circulation
BTC-Mining: I can already see people accidentally spending
them and people receiving random payments while holding said colored coins and being "wtf?"
mircea_popescu: while
this is in principle a good ideea,
the implementation is awful.
mircea_popescu: . It will be paid
to
the same address which is registered as
the owner of
the colored coins - but
the receiver will need
to be careful when spending
the dividends, so it doesn't accidentally spend
the
transaction
that represents
the share.
BTC-Mining: People can sign requests with
their current BTC address
BTC-Mining: I mean, you have a BTC address
tied
to asset holders, just use
that for communication
BTC-Mining: I'd personally stay clear of any such option until
there's convenient options for coloured coins.
mircea_popescu: hm.
this may not be such a good ideea with a live company
mircea_popescu: There are other approaches, and
the one I have
taken is very simple, but it is a working solution (primitively duct-taped and glued
together).
BTC-Mining: How does one keeps
track of
their colored coins? One wallet for each?
BTC-Mining: The whole coloured coin and Open-Transaction
thing seems like a mess.
mircea_popescu: conceptually
tho, i
think shares should really work in 1k blocks. so you know, like 40 dollars for "traditional share"
matthewh3: the ex GLBSE asset 'RSM' is now going
to use 'coloured coin'
to prove ownership and pay dividends. We will look at helping shareholders issue
there own assets on Open-Transaction servers valued against
there coloured coins. We had enough investment for 180(GH/s) of ASIC's and will be saving 50% of profits
towards buying more ASIC's.
gribble: Best bid: 11.86, Best ask: 11.8812, Bid-ask spread: 0.02120, Last
trade: 11.85, 24 hour volume: 35604, 24 hour low: 11.43, 24 hour high: 12
mircea_popescu: (it already has, just 90mn of
them are locked
till ipo finishes)
mircea_popescu: Joseph Kennedy, father of
the late John. F. Kennedy, made
the family’s fortune by selling off all his stocks right before
the 1929 crash.
The carefully crafted media
tale, says
that Kennedy decided
to sell his stocks after overhearing shoeshine boys speculating on
the stock market.
mircea_popescu: jurov or
the great depression. you know
that legend of
the guy who overheard his domestics discussing share investments and decided
to sell evertrthing ?
jurov: hehe, czechoslovakia of 1990's with millions of shareholders comes
to mind
mircea_popescu: i guess it's also very impopular, given
the very particular ethos of
the bitcoin community, but something being impopular doesn't make it any less sound.
Doffx: You and
the girl understand whats going on with all
these complicated investment strats, I certainly dont get
them.
mircea_popescu: the notion
that you shouldn't allow absolutely anyone
to "invest" is, imo, sound.
Doffx: I'm not attacking you either mircea_popescu because I listen
to your advice when I find it valuable.
mircea_popescu: now,
the us implementation of many
things is
the pits, but most of
the principles behind it are sound.
jurov: please at least enlighten us, which product is
the best,
then?
Doffx: I dont want
to
talk about what I Invest in.
Doffx: Ill be sitting pretty soon as
this bullshit falls apart, provided I survive it.
Doffx: I invest, I dont have
to invest in
the bullshit markets
to invest.
Doffx: Not because I dont
think you have
the best product.
mircea_popescu: listen, are you aware in
the us people aren't even ALLOWED
to invest unless
they have millions in property ?
Doffx: You and her
turn people away with your personalities.
Doffx: I dont
think it will happen and Ill be honest here.
Doffx: I dunno
the links you provided me just proves my point, she
turns people away.
mircea_popescu: <Doffx> You have a chance
to make Mpex
the best
thing out
there I just dont
think it will happen. <<
mircea_popescu: copumpkin are you one of
those otakus
that
think
the janitor always works in a
teenage prison school for girls, mostly cleans underwear off
the floor and ends up fucking
the entire roster ?
Azelphur: copumpkin: what you
thinking of changing
to? :p
copumpkin: I'm
thinking of maybe changing job
darkee: yea guess I'll wait and see until
tomorrow, not like I can actually do anything about it for now anyway
Azelphur: copumpkin: don't forget
that you're a fed
too
mircea_popescu: darkee 20 is significant. some people never received anything but we put it down
to rounding (which yes, is a horrible practice but what can you say)
copumpkin: I am known for being
the most evil pumpkin in
the land
BTC-Mining: Guess I was lucky, was amongst
the first
to be paid and actually got paid.
darkee: still would like
to have
them ;D
mircea_popescu: (if
this makes anyone feel better,
there were likely people who complained about
the .us
tld, because neustar sent an email, received proof
they asked for, declared
themsleves satisfied)
darkee: anyone else got an glbse email about an hour ago about restored funds w/o having received anything? kinda makes me wonder if I actually fucked up and gave a wrong btc address for
the payout but it's
too late
to even see which address I put in -.-
jurov: i'm done with
that discussion and fully satisfied.
BTC-Mining: ... it means...
the domain... was crafted by a blacksmith
jurov: idk, just hat
they insist it is registered on some restaurant address
mircea_popescu: jurov "polimedia is a forged domain" ?! wtf does
that even mean ?!