Bitcoin Forum

I am pleased to announce DividendRippler.com (https://www.dividendrippler.com) (DR). DR provides an easy way to pro-rate payments to asset holders, much like a dividend payment. BTC/LTC/TRC is currently supported. We are not an exchange; ripple is left doing the heavy lifting, such as trading and ownership maintenance.

DividendRippler is simple. When a BTC/LTC/TRC payment comes into the main asset address, DR calculates current asset holders and sends out pro-rated ripple payments accordingly. All information is public.

DividendRippler is set up to offer listed as well as unlisted assets. Listed assets will require a signed offering document. Unlisted assets won’t. Both listed and unlisted assets will require DR to create the asset.

Listed asset at time of launch:
TBL (https://dividendrippler.com/asset?ra=rNF5qUPCcge7uSStj6oKuoQs38BaM8362s) – The Amazing Anonymous Bitcoin Lottery (TAABL.NET) (rNF5qUPCcge7uSStj6oKuoQs38BaM8362s)

Trust:
•   In order to trade a DR asset, you’ll need to trust the underlying asset in ripple, such as rNF5qUPCcge7uSStj6oKuoQs38BaM8362s in the case for TBL.
•   Because payments are made in the ripple network using DR, you will have to trust DR’s gateway address for the dividend. This address is static: rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX.

Fees:
•   DR collects no fees to issue payments. The user will face chain fees as required by the network. For example 1.0000 BTC redemption may only return 0.9995 BTC.
•   DR collects no fees on asset trading (because they are not technically DR assets)
•   DR does collect gateway fees if the BTC, LTC or TRC IOUs are transferred (currently 0.15%). Note ripple does not allow DR to charge a fee to redeem its own IOUs, so specie payment can always be taken free of charge. More information on the gateway is here.
•   Initiating a new asset will have fees, currently unknown. While in the initial testing phase of DR, the fee is waived.

Have an asset you would like to offer? While DR is in beta, we’re offering to bring a few assets public over the next month. If you’d like to have your asset considered, please PM.

This looks really cool but to be honest...I don't understand very much of it at all! How is this used? How does it know when a BTC payment comes in what the associated Ripple address is? Where's the interface on the web page to "send" the payment (i.e. associate the specie address with the Ripple address)? Help!

Simple and complex at the same time. I know you're familiar with ripple.

Someone comes to us and requests to issue an asset. We create a ripple address for them, needed so we can control the amount of shares outstanding. You don't want the issuer to issue another 1000 shares while you sleep. In the case of TBL, that person was issued 100 shares, assume for this case it was rLDDq8ZGhCaVBP8MyYTifhCJzgWPQBjwpt, but it doesn't have to be a current owner. He then distributed them as shown below (75%, 15% and 10%).

This is a snapshot taken for this post from the asset link (https://dividendrippler.com/asset?ra=rNF5qUPCcge7uSStj6oKuoQs38BaM8362s), the asset holders can change at anytime, and updated in real-time!

https://dl.dropboxusercontent.com/u/12679676/pichost/20130419DRwpw.jpg

Suppose the company wants to pay out a 2 BTC dividend. By submitting 2.000 BTC to 1HY2oZop..., all current asset holders will get a pro-rated amount of those BTC. So, rLDDq8z... would get 75% of the 2.000 BTC, and so on down the line. If the dividend was in LTC, the payment should be made to the LTC address.

Oh! I see. So you are acting as an escrow / holding agent for the securities. The ripple address you create is specific to the security, and it has its own IOUs which represents shares. Cool!

ripple makes it easy :)

Is there any live shares we can buy into to test this with?

Yes! We haven't started a thread about it yet, but if you look on the DividendRippler.com website, you will see 1 listed asset 'TBL'. We'll make the thread soon, but it is the website TAABL.net. Profits from that website get filtered to shareholders. You can check out the issuing document at https://dividendrippler.com/asset?ra=rNF5qUPCcge7uSStj6oKuoQs38BaM8362s

The asset is 'TBL' with issuing address: rNF5qUPCcge7uSStj6oKuoQs38BaM8362s

There is an offer to sell 1 share (1%) at 0.15 btc. Check the market on ripple, TBL/BTC.dr (issuers as rNF5qUPCcge7uSStj6oKuoQs38BaM8362s / rfYv1TXnwgDDK4WQNbFALykYuEBnrR4pDX)

You can buy some of that or put in bids for the owners to consider.

Ah I see it now. I'd like to try it out but $18 is a bit much for a test - how do I gauge trust that I will see the cash again?

Wondered how long til someone did this. Its pretty cool.

We will soon explain why the asks are actually low-ball, and are only so for the sake of testing.

I seem to have 0.865TBL... I don't see how that happened

Did you not put any bids up for TBL? I have the partial order filled 2 days ago for LTC.

Yes I did but for a full TBL because I didn't think I could have less. Somehow I have less and still some BTC leftover

That's weird. First of all, the order partially filled was for LTC, not BTC, so did you also put a bid on LTC?

There is no single unit here, you can trade a small part of a TBL just like with any ripple supported currency. DividendRippler issues the units but all trading happens on ripple.

Do you have an order still open for TBL?

We don't have anything of the sort currently in place, and we have been thinking hard about how far we can take the platform. Dividends is "easy", the distribution is handled by ripple, we just have to check who owns what when splitting deposits.

With physical items it is slightly harder, as we would need to enforce somehow the delivery of the items. You can have an asset where one unit of participation entitled you to one physical coin, like TTBit's DYM, and DividendRippler can go as far as reporting you sent back 1 DYM to the asset account so TTBit owes you a physical DYM, but that's as far as we can go in an automated way. If people expect DR to enforce delivery we'll need a completely different operation, one I'm not very interested on ;)

Do you have rules/limitations on what assets you allow?

I always wanted to list my Piratecoin asset that follows the following rules:
Shares have a fixed price (e.g. 1 mBTC each)
90% of every sale of Piratecoin shares goes into a pool, 10% go to operator for covering costs and expenses.
Every week 10% of the money in that pool is being distributed to share holders.
If there is no money left in the pool to pay each shareholder the required amount, a final dividend of the remaining amount is issued and the asset closes.

Everything should be auditable, which makes it a perfect match for Ripple as there is no need anyways to move the money outside and it can just stay in the pool...

We can do just about any asset. But won't provide any authority. For our first few assets nelisky and I discussed wanting an asset such as a mining operation.

So your asset is of the ponzi type?

Well, it would be very close to what is commonly understood as "ponzi system" (paying interest from deposited funds), yes.

Another idea I had was to offer a managed account for lending with interest at Bitfinex.com (either BTC or USD or both). In ~2 weeks it will be possible to use Bitstamp there as well, which opens up a Ripple gateway. I'm not too sure how to handle payout requests there though (e.g. someone wants their 100 USD they deposited back). Maybe offer a time limited contract (e.g. 6 months) after which everything including interest will be returned? Then I don't need the dividend feature however...

Fantastic application that fits Ripple so perfectly! Really nice. Now hoping to get one TBL. So far I can only see 0.9 on offer...

I'd advise anyone who is thinking of using this service to read the two links in my signature instead. Know what you are getting into.

I appreciate your quest to warn people about what you consider a scam, that's what makes this community safer, but I have to ask: wtf?

Do you just post on every ripple related thread or is there anything particular to the subject of this one that you feel people should know about? Ripple is not a scam in my opinion, obviously if you look at XRP as currency it is, but that is completely unrelated to the usage of ripple. Sure, you can issue yourself any kind and amount on ripple, but what makes ripple tick is trust, and I most certainly don't trust your self issued BTC anymore than I would trust your self printed bank notes.

Is there something specific to TAABL or DividendRippler that you feel needs being said?

There is no need to do full units, you can buy 0.9 or any part thereof. But just in case you must have 1.0 you can always find more offers on TRC and LTC markets.

Yes I understand I can also have less than 1% share. Was hoping to find some more offers coming.

With only one offer in the order book it is very hard to valuate the offer. For example, how often is TAABL going to pay dividend? Is all of its earnings filtered in this system or only part? If I'm guessing correctly 2BTC/month then at 0.175 per 1% share I will break even at around half a year, right? With BTC half a year is pretty long I think... Also, if I buy now at 0.175, chances are I can find nobody to sell it to in case I wanted to get rid of it.

So it would be nice to either see some more offers or a bit more information on the dividends. For now I think it is slightly overpriced. Well, all that is if I understand the system correctly, obviously.

There is a very, very thin market as this is a really new and not really well understood offer, but you should find most of your questions answered at https://bitcointalk.org/index.php?topic=190193.0

If you have any further questions just post on either thread. I can try to talk a bit more on expected profit and such, just not at this time.

Not that it is a problem, but I was quite surprised to receive payment from TAABL directly rather than through DR, as in this thread it was explained "payments are made in the ripple network using DR, ..."

Seriously, I don't mind, as long as the issuer is DR ---which it is.

Well, bad wording on our part. Payments are made using DR IOUs, but the payer is the asset account, not DR, which will be true for all assets.

Any update on the fees for issuing an asset? I may be interested.