Bitcoin Forum

Howdy!

Lately my fascination with bitcoins has rekindled as I read about colored bitcoins recently. I'm late to the game huh..

My understanding is:

With colored bitcoins I should be able to declare a fixed number of stocks for my "company" lets pretend 100 shares derived from .01btc

Now I can sell these and raise capital, and to transfer ownership one would simply send .001 of the .01 btc?

Should I want to engage in profit sharing I can send the bitcoins to the address which received the share.

So in theory this should be a totally anonymous but completely transparent system.

--- I expect I am wrong somewhere, please do share!

Do any Bitcoin companies exist yet that are using this system?

we have founded a traditional company based on FIAT, but we will pay out dividends in bitcoin. founding a company with butcoins is tricky, as you go automatically bankrupt when the butcoin price drops

Hmm what if the initial raised BTC was immediately converted to the business currency? That would at least protect the company, dividends would then reflect the performance of the fiat side of the business.

I think the problem is that there is no client for those things yet, in your local wallet this Btc is just one of many.
Don't know any company doing something like this either.
But I think it would be possible to create a system building on top of the coloured coin idea.

Hey Birdy - Checkout: http://www.bitcoinx.org/

Not sure the status on that project, it works pretty well from my testing. Its a bit slow although haha

Taking bitcoins instead of money does not protect you from securities laws.  If you intend to raise "money" you need to hire a lawyer and draft a prvate placement memorandum.  I believe it is illegal in every 'western' country to seek funding from the public without registering your offering.  It is certainly illegal in the USA.

Vice - Thanks for your reply! While the legality of the process definitely is not to be questioned haha!

It appears the question has been answered. Upon further testing the client is.... well iffy at best. With respect to the law, it would most certainly not be appreciated.

regulators in my home state confirmed for me today that bitcoin may be a commodity and so writing a contract that pays in bitcoin is a commodity contract... which is regulated.

Let them find the money trail, don't make it easy for them by simply declaring FFS

LOL, so your approach is to hide in a cave.  Nice Usama.

I fear no regulator, I welcome them.

Who the fuck is Usama?
If you are referring to Bin Laden then it is Osama.
So if you are going to be a smart arse at least try to sound like you know what you are talking about.

Then why did they call him UBL, huh, smarty pants?

Only in the USA was he referred to as UBL. The rest of the world knew how to fucking spell his name. No wonder it took 10 years to find him then murder him in cold blood.

Fuck you you piece of shit terrorist lover, what cave do you live in?  Well send you a drone.

Why do you think I'm a terrorist lover?

Just because I corrected you on your point of error now makes me a radical muslim? :)

There is also an apostrophe in "well" should go right in the middle so easy to remember for next time eh ;)

Drone, drone, drone. That's all your kind seem to do anyway. I don't mean unmanned aircraft drone, I mean droning on and boring the tits out of everyone.

So stating the truth makes me a terrorist lover? He WAS murdered in cold blood, I have no doubts about that. He could have easily been taken alive, but he wasn't. There was never any intention of taking him alive. To me that is murder.

Someone fill me in - I have no clue what is going on  ???

nothing important, I'm just arguing with another moron who would rather live in anarchy than a society. 

"Honestly, these politicians may be well trained lawyers, but they are absolutely brain-dead when it comes to understand human nature and the impact of their clever laws. Just pick up a history book and you might read something. Human nature has not changed. A mother still cries for her son who dies in battle today as she did in ancient times. History repeats like a Shakespeare play where the actors change, but we know what the ending will be no matter how many times it is performed throughout the centuries."

Anarchy is simply self-determination, where monopoly does not exist, especially at the level of "government".

Nothing unusual, please move along. ;)