Bitcoin Forum

We buy and sell virtual shares (such as colored coins).

I believe the colored coins project has now reached enough maturity for traders to begin to actively buy and sell virtual assets based on the BitcoinX protocol.

Profits from sales of our virtual shares will gain the developers working on our GitHub projects. You can simultaneously make a profit and support teams of good developers by buying and selling our GitCoins.

Please check the link in the signature for more info.

How is what you describe not a Ponzi (with a donations angle to it, sure)?

In which case I would say you're a long, long way from having "reached enough maturity".

A Ponzi is pure speculation whereas buying these shares will benefit developers who can then build products and services that could potentially further strengthen the value of the shares, also due to the nature of the BitcoinX protocol the assets can be traded freely so no one can run away with them at any point and there is no central website that can be shut down, the CCMM website is just a simple HTML page, does not store anything itself and can be cloned and copied by anyone with ease.

This is the first time I've seen a site hosted on dropbox.  :o

Dude, srsly. We're not in 2011 anymore, this isn't GLBSE.

1. Business plan.
2. Clear and verifiable revenue streams.
3. Are you even in the wot?

Enough with the nonsense.

First and foremost this has to be said - there seems to be something wrong with your attitude so I will just put you on my ignore list, I am not particularly fond of snotty people like yourself - now if someone else other than MPOE-PR has a question about the project, please post it in this thread.

Signature:

The tiny.cc link leads to https://dl.dropbox.com/u/138333890/ccmm.html

Just quoted, because signatures tend to suddenly change sometimes... especially after realizing a loss.

My question is:
I get how I can buy + sell shares. I don't get however how these shares will generate any kind of income?!

> We will try to upload 10 pictures of people from the Congo to 4chan.org

...

That's pretty much how people say "I am stupid, disregard me" around here. Good luck with that.

Sooo...

I buy shares. My money then goes to "developers working on GitHub projects". And then these developers..give more money back, increasing the value of my shares?

You're going to need vastly more detail if you're looking to establish yourself here ;) ..MPOE-PR is normally terribly brash, but from time to time she does make good points, especially when it comes to working business models.

No, only 90% of that money goes to "GitHub projects" - the rest seems to vanish in thin air or something. ::)

Edit:
Also I thought colored coins are somehow at least automatically tradeable - meaning I don't have to negotiate prices but rather am able to send out offers that people can take or leave... So far you could also simply hand out GPG signed contracts or do Chaum blinded money instead of coloring coins. Sorry, but I don't really see the big improvement, if I anyways have to negotiate prices or send PMs.

It depends on the contract, we could set up a contract for instance where the virtual asset holders get 50% of the income from advertising, licensing, subcontracting or any other revenue source - if you want to suggest a contract model you can work on it with the rest of the team on our GitHub wiki page, here: https://github.com/Entrances/Contract-Wiki-Repo/wiki/Wiki-for-non-legally-binding-contracts/_edit

Yes, that was just for testing purposes, have a sense of humor, willya - however, I will actually follow through if I can sell the specified amount of those test shares.

Yes, I will update the project websites and so on with more detailed information as it grows, just wanted to get started now, my fingers are itching and I think some developers and investors could be interested in the concept - besides it's a collaborative project so you are more than welcome to contribute by editing the GitHub project wiki yourself for instance.

Not sure if I get you right and correct me if I'm wrong but I think you actually can send out offers using the ArmoryX software, meaning you don't really have to send me a PM or negotiate manually - just bid or ask through the GUI, manual PM'ing is optional and anyone can hold, sell, trade and exchange colored coins without the need for any websites or middle men.

Whats the point of building an exchange for something specifically designed to avoid exchanges ?

I'm not building an exchange, just a website which lists a couple of color ID's that you need if you want to buy or sell the specific virtual assets I've issued.

The questions were not the problem, her tone was.

Umm...how is this not an exchange?

Maybe you should test the ArmoryX software yourself first before you comment further, it allows anyone to send a virtual asset to anyone else in the world without the need for a centralized exchange, it is pretty annoying if you continue to comment without actually testing the software which would probably make it easier for you to get the concept.

So I want to issue PirateCoin shares that have the following contract:
Every week 7% of the accumulated funds are being paid out to the share holders, 3% of the accumulated funds are paid out to the contract issuer (me). Funds start at 0 BTC, shares are being sold at 0.1 BTC each up to a maximum of 100 million shares.

Do I need a webserver now? Is it enough to only publish this ColourID somewhere? How do I list my assets on your page (and/or sell them to you)? Why do people need to send funds to this address (1FL8nGQzRF6j39566viJQ12KnYeBY9kurm) and who controls it instead of using smart contracts enforced by the blockchain?

By the way, the github links on your Dropbox "site" don't work...

http://www.reddit.com/r/Bitcoin/comments/16w5vp/colored_bitcoins_armoryx_p2ptrade_gui_is_here/ <-- more info about ArmoryX
https://github.com/killerstorm/BitcoinArmory <-- Github for ArmoryX, but not a lot of commits going on it seems

The problem at the moment is that the ArmoryX client is so resource heavy, I think the cc team is trying to set up a website front end to let people trade colored coins more conveniently -- whatever you do, just do not look down on my dropbox site, it is a neat solution that fills its purpose.

sron, please, please, PLEASE! don't defend that "site?". who hosts a website on dropbox (amazon maybe)?  forget about the appearance of the website (which could use some serious TLC), and the broken/outdated links, I think most people will take one look at the url and believe you lack the necessary resources to "seriously" carry out your vision.

for that last couple weeks i have been circling the colored coin threads. reading. understanding. coding. and each go around I pick up something new, which helps me to better appreciate this ongoing effort.  however, since i found this thread, i've been trying to understand your relationship with BitcoinX. they have a perfectly good website (http://www.bitcoinx.org) that "i believe" is more than adequate to promote & recruit. there's still lots that needs to be added, but its very professional. with that said, i believe your dropbox site is a serious disservice to this cause.

wordpress (http://www.wordpress.com/) and godaddy (http://www.godaddy.com/) offer FREE hosting, both with very decent templates to work with.  if there is a valid reason why you believe dropbox is the best solution then i apologize, but please share, as i'd really like to know.

Yeah, yeah, I can tell you do not have a very highly developed capacity for abstract thinking -- developers do not necessarily care much about the design of things but often prioritize functionality, i. e. you are not my target market so go and play with some lego blocks, I am sure you will find them colorful and appealing.

I love how you only ever insult your potential investors when they ask questions or give advice...it makes it so much easier to watch you fail :D

Consider this some negative motivation to prove me wrong ;) ..best of luck to you, sron.

my intention was not to insult you. curiosity got the best of me and i couldn't help but try to understand your rationale behind the page. your response has made things very clear. you will not be receiving any more trouble from me.

Well, Devcoin kinda works, and this one seems to be somewhat similar on the surface.

Are you familiar with devcoin model?

I guess I need to provide some context... A centralized exchange like MPex both lists securities (including contracts, some statistics, etc) and provides the means of exchanging them, i.e. executes orders.

Decentralized exchange, like one based on colored coins, is supposed to provide an ability to trade without using one centralized service of some sort.

Basically, any trade with securities listed on MPex goes through MPex, and it depends on MPex. I.e. if MPex is down, you cannot trade. If MPex blocked your account, you cannot trade. If MPex knows who are you, it can report you to authorities. Etc.

Trade with colored coins can be completely person-to-person, e.g. you might meet somebody in person and send shares to their address and they'll give you cash. In a more realistic scenario people can use p2ptrade protocol which would allow to trade safely and anonymously. (Well, it is as anonymous as Bitcoin. I.e. probably not completely anonymous.)

But still, if somebody wants to trade using a centralized service of some sort, it's his right. It's just that people do not need rely on a centralized service.

OK, anyway. The way I see it, exchanges can still exist in 'colored coins' model, but their role is reduced to publishing listing information and whatnot. Exchange is an informational tool, it merely helps investors to find securities they might want.

There might be different exchanges. Perhaps some will enforce some quality standards for contracts and assets. (You know, like MPex lists few securities, but those have professionally composed contracts, some financial reporting standards and relatively high market cap.) It might provide additional services like charts, faster trading protocols and whatnot.

It is important to understand, however, that we are talking about OPTIONAL services.

Company can sell its shares without being listed on any exchange. (It can publish color definition on its own web site.) People can trade shares without relying on any particular service.

Exchanges are supposed to improve convenience for investors, and there is nothing wrong with it, it doesn't betray a goal of decentralization in any way.

In same way existence of bitpay and mtgox doesn't make Bitcoin any less decentralized.

These are probably worth quite a bit of money now if they are still around...

It would mean the BTC outputs they were created with haven't moved since 2013, so there's slim chance.

Nevertheless.