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Title: wonder if ripple can be a stock market, like create a coin called BITBOND or sth Post by: chromaticcr on March 07, 2013, 10:48:06 AM Hi. I am thinking if Ripple could act as a trading center, some what with the colored coins.
You can trade shares, get dividends in various currencies (even in fractions of shares), perhpas we could have the code modify a little and create a vote feature. Thinking of RippleMarket will work. Title: Re: wonder if ripple can be a stock market, like create a coin called BITBOND or sth Post by: chromaticcr on March 08, 2013, 11:16:22 AM Anyone got opinion on this thing, perhaps we can get through the fees of the trading center, huh?
Title: Re: wonder if ripple can be a stock market, like create a coin called BITBOND or sth Post by: moocowpong1 on March 08, 2013, 04:30:37 PM I think this is one of the cooler potential uses of Ripple, but I'm also not sure Ripple is structured quite ideally for it. I have some thoughts on what could make it better, but I don't really have time to organize them right now.
Title: Re: wonder if ripple can be a stock market, like create a coin called BITBOND or sth Post by: markm on March 08, 2013, 05:58:51 PM Unfortunately ripple's core code is still not open source, so innovation is pretty much forced to wait for now.
One cannot yet even create gateways for altcoins let alone entirely new asset types. -MarkM- Title: Re: wonder if ripple can be a stock market, like create a coin called BITBOND or sth Post by: moocowpong1 on March 08, 2013, 09:17:26 PM Unfortunately ripple's core code is still not open source, so innovation is pretty much forced to wait for now. One cannot yet even create gateways for altcoins let alone entirely new asset types. -MarkM- You can actually do both of these, although it's a little hard to be a gateway. (You don't have access to dt addresses, so it's a little hard for people to redeem IOU's.) But as long as you don't mind using three letter identifiers (instead of the near-infinite number of unique identifiers Ripple supports for currencies), you're good. Check out TTBit's DYMs. Title: Re: wonder if ripple can be a stock market, like create a coin called BITBOND or sth Post by: markm on March 08, 2013, 09:23:18 PM I think I read somewhere that you need to flag your account as using destination tags before you go ahead and actually use it.
So there is no point publishing an address that is doomed to be replaced, change of address stuff is painful enough when forced into it that planning from the start to be changing one's address is kind of stupid. So one needs to first flag one's address as using these tags, before going ahead and publishing the address as anything people are to be using in day to day commerce/trading. Basically you are suggesting playing around with personal IOUs, which is all fine and fun for fun but getting prospective business customers of one's gateway business involved in personal IOUs of a person who happens at this moment to be the, or one of the, owners of the business is kind of silly, unbusinesslike, uprofessional, or something along those lines. I have a personal account, sure, fine, and could even maybe do some personal trading maybe on behalf of one or more of my personal characters in some game or other or something like that, but to do a business I need to be able to flag an account properly as a business account before I can even really get started. This applies even despite the fact that technically my company, Digitalis Data Services, being a "sole proprietorship", is not for tax purposes actually an entity distinct from myself. I imagine it applies even more so to "incorporated" "companies", "limited companies" and such. Maybe even more-more so if the business wishes to look into obtaining a "money services business" license. -MarkM- Title: Re: wonder if ripple can be a stock market, like create a coin called BITBOND or sth Post by: ahbritto on March 09, 2013, 04:50:17 AM I think I read somewhere that you need to flag your account as using destination tags before you go ahead and actually use it. So there is no point publishing an address that is doomed to be replaced, change of address stuff is painful enough when forced into it that planning from the start to be changing one's address is kind of stupid. So one needs to first flag one's address as using these tags, before going ahead and publishing the address as anything people are to be using in day to day commerce/trading. Destination tags may be used by any account regardless of the whether lsfRequireDestTag is set. The flag can be set and cleared at any time. Having this flag set means that the network will refused to deliver payments to the address if they lack a destination tag. This results in less payment bouncing for the destination account as the network can simply refused deliver and clients can refuse to submit payments lacking a destination tag. However, the lsfRequireAuth flag requires the account have no items in its owner directory. See: https://ripple.com/wiki/Transaction_Format#AccountSet_.283.29 |