http://www.positivemoney.org.uk/When money drives most of the activity on the planet, it's essential that we understand it. Positive Money believes that the root cause of many of our current social, economic and environmental problems lies in the way that we allow money to be created. We campaign for fundamental reform of a system that is fueling debt, poverty and our economic and environmental crises.http://www.positivemoney.org.uk/
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And even if the government perfectly reallocated money, what would be the point of working? If I'm getting money from not working...I'm not going to work.
Most people like to do things and cooperate. The only people who just work for money are wage slaves. |
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There are now many threads about "colored coins", "smart contracts" and otherwise tracking specific coins through the blockchain. I have created a simple command-line Python program to handle tracking of "colored coins", "smart contracts" or "blockchain securities" in the blockchain. 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). I also have not read gone into the details of the other approaches, so it is probably safe to say that the method I have created is completely incompatible with the other methods (which are probably much smarter too). But it is a live and implemented solution, which gives it an advantage over others. It is short, easy to modify and fun to play with. It might be useful for some adventurous security issuers who are looking for a solution now that GLBSE is shutting down. Full source: http://pastebin.com/NnNug0nLUpdate Oct 15:The source code has been updated, the new version includes functions to pay dividends to holders of the colored coins. Also, it has been tested more thoroughly, and I have created a 12-step usage example that shows the current capabilities of the script. Usage example:
1. First run config setup:
$ python bitpaint.py
Configuration file bitpaint.conf not found. Creating one...
bitcoind rpc host (default: 127.0.0.1):
bitcoind rpc port (default: 8332):
bitcoind rpc username (default: <blank>): ********
bitcoind rpc password (default: <blank>): ********
2. Create address:
$ python bitpaint.py -n
Address added: 1AEn3U5MhedXYRbpxLKmkL4r5Kz1XkdZA
3. Transfer the colored coins to the address (sent 0.01 BTC to the address above using Satoshi client). Make a note of (1) the Transaction ID: 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b, (2) the output that was sent to the address above: 1.
4. "Paint" the output of the transaction, call the painted coins "BITFAIR-SHARES":
$ python bitpaint.py -p BITFAIR-SHARES:630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b:1
5. Show the ownership info of the painted coins "BITFAIR-SHARES", the output is the owner address, the amount the address owns, and the transaction output which assigned ownership to that address, then a line with a total at the bottom:
$ python bitpaint.py -o BITFAIR-SHARES
*** BITFAIR-SHARES ***
1AEn3U5MhedXYRbpxLKmkL4r5Kz1XkdZA 0.01 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b:1
** Total BITFAIR-SHARES: 0.010000 **
6. Create three new addresses (could be done by another user, for example the buyer of the security - the buyers should also run the command in step 4 to initiate the coin tracking), and create a transaction that transfers 0.006 to the first address (represents 60% of "outstanding shares"), 0.003 to the second (represents 30% of "outstanding shares) and 0.001 to the third (represents 10% of "outstanding shares"):
$ python bitpaint.py -n
Address added: 1KbDEaZ99YJYaT62emhFwabFoqQ6LYdJg9
$ python bitpaint.py -n
Address added: 1DAHyXPNJjqLGFNqHhavrukWZ6XkY8Kj21
$ python bitpaint.py -n
Address added: 1Mhx4LMjbmN6KJ9B5BkdZ5zVWQP64F5TJC
$ python bitpaint.py -f 1AEn3U5MhedXYRbpxLKmkL4r5Kz1XkdZA:630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b:1 -t 1KbDEaZ99YJYaT62emhFwabFoqQ6LYdJg9:0.006,1DAHyXPNJjqLGFNqHhavrukWZ6XkY8Kj21:0.003,1Mhx4LMjbmN6KJ9B5BkdZ5zVWQP64F5TJC:0.001
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
7. The result of the former step is a hex-encoded raw transaction. Because it contains no transaction fees, the standard satoshi client will refuse to send it. However, the resulting hex-encoded raw transaction can be broadcast on the network using http://blockchain.info/pushtx. PS: At the moment, you cannot be sure that the transaction will be included in a block, since it contains no transaction fee (i.e. compensation to the miners). I am currently working on a solution to this.
8. Update list of BITFAIR-SHARES holders, and show it:
$ python bitpaint.py -u BITFAIR-SHARES
$ python bitpaint.py -o BITFAIR-SHARES
*** BITFAIR-SHARES ***
1DAHyXPNJjqLGFNqHhavrukWZ6XkY8Kj21 0.003 d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d:0
1Mhx4LMjbmN6KJ9B5BkdZ5zVWQP64F5TJC 0.001 d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d:1
1KbDEaZ99YJYaT62emhFwabFoqQ6LYdJg9 0.006 d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d:2
** Total BITFAIR-SHARES: 0.010000 **
9. Pay dividends of 0.1 BTC in total from my wallet account named "bitpaint_donations" to the holders of the colored coins ("shareholders of BITFAIR-SHARES") (not sure if this works with an encrypted wallet, should be easy enough to fix for those who have it):
$ python bitpaint.py -d BITFAIR-SHARES:bitpaint_donations:.1
10. List what shares/colored coins are owned by me, their dividends (and address that the shares/dividends belong to, along with the transaction output that assigned the shares to my address):
$ python bitpaint.py -m
BITFAIR-SHARES 0.003 ( div: 0.03 ) 1DAHyXPNJjqLGFNqHhavrukWZ6XkY8Kj21 d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d:0
BITFAIR-SHARES 0.001 ( div: 0.01 ) 1Mhx4LMjbmN6KJ9B5BkdZ5zVWQP64F5TJC d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d:1
BITFAIR-SHARES 0.006 ( div: 0.06 ) 1KbDEaZ99YJYaT62emhFwabFoqQ6LYdJg9 d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d:2
11. Forward dividends from my asset-addresses to one of my wallet addresses:
$ python bitpaint.py -x 1DAHyXPNJjqLGFNqHhavrukWZ6XkY8Kj21 -y 16KUdKHHZ1AUVb4ZH6Q2VY55L3V3gCCSmr
0100000001cf707398596a9f8bf45e22e3f736b819f27ba6d10cb9c12f1ca23a9daf0c6f1d000000008c4930460221009eb892e079fd143fd5b1919c0c07073d1d45a671aabb05d2565721ae3f83aee6022100a60706b226ef968038ef654f8b782103170932201b7e9fc9320ec24027c56e14014104f7e514dad77c0dbf157c1cc88d610a512f9809785fda426ca7ee3c70df59afeee521ccb02f610536e093b954c4718a4b9d2c028aaec62ad2f138d0735a0d918dffffffff01a0252600000000001976a9143a572d6755022d568f7a78d0060234920486cd0f88ac00000000
Paid 0.025 to 16KUdKHHZ1AUVb4ZH6Q2VY55L3V3gCCSmr
$ python bitpaint.py -x 1Mhx4LMjbmN6KJ9B5BkdZ5zVWQP64F5TJC -y 16KUdKHHZ1AUVb4ZH6Q2VY55L3V3gCCSmr
0100000001cf707398596a9f8bf45e22e3f736b819f27ba6d10cb9c12f1ca23a9daf0c6f1d020000008a47304402203ff6f44811c8d772f16535a3482fcb88e0b992cf3f8574b78b32489146212a28022045e2fff119b1124035849f3d54b5f5fa3cf8ebf88463df38df1ee7f4ab4cf358014104dc22a7249282ba829c4351cd9255690aaaa9a9896bd9b95e6075d5a3ec34b305a6eab56f9524f7a4308f418bd4a6eabdaf887a4622874b32cb4f4f55c28e1092ffffffff0120a10700000000001976a9143a572d6755022d568f7a78d0060234920486cd0f88ac00000000
Paid 0.005 to 16KUdKHHZ1AUVb4ZH6Q2VY55L3V3gCCSmr
$ python bitpaint.py -x 1KbDEaZ99YJYaT62emhFwabFoqQ6LYdJg9 -y 16KUdKHHZ1AUVb4ZH6Q2VY55L3V3gCCSmr
0100000001cf707398596a9f8bf45e22e3f736b819f27ba6d10cb9c12f1ca23a9daf0c6f1d030000008c493046022100b440c8997b43067a2a96ece768487e6f219391491d83b384fe7408f106adea5b022100b7d47531358afdeb75cd4e98753309c175ce71e1d722ab851c363c0b9f80d2b50141043d0c63308cb4dcc98b966922a7f78435d44c89b63bf94485f0920c3434a5077c4004adb067ac319f3ee1b551b451a11154e0e1a8ba1c686d15bde93f89963044ffffffff0160ec5300000000001976a9143a572d6755022d568f7a78d0060234920486cd0f88ac00000000
Paid 0.055 to 16KUdKHHZ1AUVb4ZH6Q2VY55L3V3gCCSmr
12. The result of each command in the former step is a hex-encoded raw transaction. It contains a transaction fee of 0.005, to help it get mined into a block. The hex-encoded raw transaction can be broadcast on the network using http://blockchain.info/pushtx. Your client should see the transaction within seconds.
- GUI - Option to add transaction fee on asset transfers (it is very annoying when transactions never confirm) - Compatibility with the other approaches Please be cautious when using it, but feel free to criticise, modify and contribute. And if you like it, support it: 1GsnaaAWYMb7yPwBQ19bSLLMTtsfSyjqg3. Will your coloured coins work with this 'coloured coin stock market project' - https://bitcointalk.org/index.php?topic=118672.0 |
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Maybe one of you should start a bounty wallet on this site - https://booster.io/ - so its easier for other people to add small bits too. Edit:
Please be cautious when using it, but feel free to criticise, modify and contribute. And if you like it, support it: 1GsnaaAWYMb7yPwBQ19bSLLMTtsfSyjqg3.
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Whats this about having to keep a copy of a coloured blockchain or the shares vanish? I didn't realize about that - why's that, does that mean I have to keep a pc on all the time in order to keep my coloured coins?
Shall update the spreadsheet over the next couple of days when im not so busy.
You just need to keep a copy of the coloured coin genesis transaction hash id. Thanks for working on our spreadsheet. |
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An interesting thread - https://bitcointalk.org/index.php?topic=118672.0Stock exchange based on colored coinsStock market needs some unique features, so I'm going to describe how they map unto 'colored coin' concept. (Please check general intro into colored coins first if you aren't familiar with it: https://bitcointalk.org/index.php?topic=106373.0) I. Issuing shares. So you have a company and you want to issue shares. To do that, you create a color definition (with help of client software, which will likely have "issue shares" button). Color definition should include: 1. Genesis transaction information (transaction hash, output number). Genesis transaction will be created by client software out of coins you already own. 2. Information about units, e.g. 1 satoshi in genesis transaction = 1 share. 3. Display name, e.g. "XYZ corporation" 4. Identifier of a contract, e.g. its hash 5. Identifier of a color, e.g. hash of address used to issue shares. Once you've made this color definition you can upload it to your site or maybe into some color definition directory. Anybody who is interested in XYZ corporation will be able to get this definition and import it into their client software. After that you can sell your shares in an IPO. People who have imported color definition will be able to distinguish shares from normal bitcoins. (How exactly shares can be traded is discussed below.) But we have an open question: how would we handle additional share issues? Quite often company needs to issue more shares. There is a couple of possible approaches: 1. Do not allow additional issues at all. All authorized shares should be included into original color definition. If necessary, company can sell them in blocks, keeping some unissued/treasury shares for itself. So one should authorize more shares than he plans to sell, just in case... 2. Client software should recognize ALL outputs which come from issuing address as issues of shares. So, basically, issuer can make any amount of shares at any time. 3. Client software will identify all outputs which come from issuing address, but it will ask confirmation from user before it will start recognizing coins coming from those new outputs. I.e. client software will show a message: "XYZ corporation issued 1000 more shares. Do you approve that?" 4. Additional issue is done through updated color definition. Users will have to import updated definition manually. (Or perhaps client software will pull it from some directory and will ask whether they approve changes.) Approaches 1 and 2 are problematic because issuer can suddenly release a large quantity of shares, thus diluting existing shareholders/bondholders. It can make shareholder identification rather problematic. So I'm more for approaches where user needs to consent to new issue. It is more democratic, i.e. people kind of vote for whether they authorize new issue (it is different from a normal shareholder vote because it is implicit). Also they have control: if something weird will happen, people will have a warning before they accept diluted shares. E.g. consider a scenario with a hacked server: attacker obtains private key used to sign color definition, issues more shares and tries to dump them on market to get money. If there is a confirmation, he won't be able to do that. In next releases we'll discuss these topics:
II. Trading, i.e. exchange proper functionality.
III. Shareholder voting, shareholder identification.
IV. Dividends.
V. Buybacks.
Stay tuned!
I'm going to sleep now, though...
https://bitcointalk.org/index.php?topic=118672.0 |
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RSM name may be changing to something which describes it more in the future and were looking at starting a new Tumblr site and moving away from this forum as much as possible eventually. I was thinking of 'The Miners Cooperative Club' or MCC. If you have any better ideas then let us know. As RSM has been bootstrapped for $4,000 of hardware we're not touting for more investment as we have a 50% reinvestment plan that may even be extended. Our aim is to become (one of) the biggest player(s) in bitcoin mining. The way I see it if bitcoin is successful then being (one of) the largest mining outfit(s) will be more important than the dividends paid now and pay well as the block reward shrinks every four years. That is more important than to just get as many dividends as possible before we would be forced to shut down. Evolvex has designed our new spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE - as you can see its much better than my old spreadsheet. So I think he has earned the role of accountant ' spreadsheet designer and operator' and the 1% salary. He also may be working on our new Tumblr site so he may earn half the salary role of 'admin' or maybe even the full 1% depending on his work against mine. The four paid positions of CEO 'Club Chairman' 2%, Treasurer 'Payments and Coins Sorter' 1%, Accountant 'Spreadsheet Designer and Operator' 1% and Administrator 1%. The salaries won't come into effect until a month after we have received our third BFL-BitForce-SC-Single and will be taken from the dividends wallet. |
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We received our coin back from the GLBSE. The new wallet I've created for our coins now holds BTC34.91898951 The ASIC's should start shipping in the next three weeks. Once we have received the shareholder list and the first ASIC then dividends will be paid monthly around the beginning of the month. If you only own a few shares then your dividends will be paid out on the first month your total equals >BTC1.0005. One of our shareholders is working on a new spreadsheet for us so you can see the progress of your dividends and all other accounting.
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Here's a bit more info on coloured coins - It'd be good if the coloured coins could be held in one blockchain.info wallet and dividends paid to any of the coins owners choosing. Also what keep's the proof of the coloured coins? If it's just your 'short python script' on my machine then I need a way to back proof up online and to be able to distribute it to each coloured coin owner. Sorry if that sounds stupid and/or I've missed the point, still trying to figure this all out.
You prove that you own colored coins by holding the private key of the address they held at (same way as you prove that you own any bitcoin, in fact). For my script, the private keys of the addresses you generate with the client for holding colored coins are held in a configuration file. The file is relatively small and in plaintext, and can easily be backed up, sent by e-mail, stored offsite, etc. Better to show by example, perhaps: -------- 1. An "asset issuer" essentially says something like: "I will use the output number 2 from transaction 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b to represent 100% of the shares in my company, whoever holds the descendants of this output holds a proportional share of the company." Output number 2 from that transaction belongs to 1AEn3U5MhedXYRbpxLKmkL4r5Kz1XkdZA, as can be seen by the whole world at http://blockchain.info/tx/630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b, and can also be verified in their own local blockchain. 2. The "asset issuer" can now transfer those bitcoins or portions of those bitcoins to other addresses. The transfer will be stored in the public ledger/blockchain - everyone can verify that output number 2 from transaction 630bcc... was assigned to three new addresses in transaction d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d, http://blockchain.info/tx/d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d. 60% of the value was transferred to 1KbDEaZ99YJYaT62emhFwabFoqQ6LYdJg9, 30% to 1DAHyXPNJjqLGFNqHhavrukWZ6XkY8Kj21 and 10% to 1Mhx4LMjbmN6KJ9B5BkdZ5zVWQP64F5TJC. The holders of these three addresses are now the new owners of the company, since they hold coins that descend from the "ancestor" transaction output. The evidence is in the public ledger for all to see. 3. The holders of these three addresses can again make transfers to other addresses, each time the public ledger/bitcoin blockchain will hold a record of the transaction, such that the genealogy can be traced back to the original ancestor that represented 100% of the company. -------- The script I have written essentially just makes sure that the transactions are "nicely" formed, in such a way that descendants of the ancestor are recorded in a very obvious manner in the bitcoin blockchain, and contains a mechanism to track the descendants. Did that make it clearer, or just mix it up even more (if so, sorry about that!)? Yeah it shed a bit of light. So do you recomend every shareholder I send the coloured coin first uses your new client to receive there coloured coins before sending them elsewhere for safe keeping. So they can get a copy of the ledger in the blockchain. I know I can just state - 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b - is the genesis coloured coin but I imagine its your client that makes visible these coins are coloured. Otherwise how do people trace there coloured coins back to - 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b -
So in short people just need to save just tx - 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b - and their private-key to prove ownership. I suspect your new client does all the blockchain checking from tx - 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b ??
Correct: what your shareholders need to know is that 630bcca... is the ancestor/root/genesis, and after that the script figures out all the shareholders by traversing the list of "well-formed" transactions from there onwards. IF someone was adventurous enough (i.e. moreso than Indiana Jones or Ranulph Fiennes) to want to use this script at the moment, then I would recommend every shareholder to generate an "asset holding" address with this script. Thereafter, the asset issuer would make transfers to that address. Every shareholder would also have to be told the transaction ID of the genesis transaction (and the output number), which each one would then have to add to their client. Those concerned about security could also write their private key down on a piece of paper (it is stored in plaintext in the configuration file) and remove it from the configuration file. However, when making transfers, they would have to re-enter the private key in the config file... |
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It'd be good if the coloured coins could be held in one blockchain.info wallet and dividends paid to any of the coins owners choosing. Also what keep's the proof of the coloured coins? If it's just your 'short python script' on my machine then I need a way to back proof up online and to be able to distribute it to each coloured coin owner. Sorry if that sounds stupid and/or I've missed the point, still trying to figure this all out.
You prove that you own colored coins by holding the private key of the address they held at (same way as you prove that you own any bitcoin, in fact). For my script, the private keys of the addresses you generate with the client for holding colored coins are held in a configuration file. The file is relatively small and in plaintext, and can easily be backed up, sent by e-mail, stored offsite, etc. Better to show by example, perhaps: -------- 1. An "asset issuer" essentially says something like: "I will use the output number 2 from transaction 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b to represent 100% of the shares in my company, whoever holds the descendants of this output holds a proportional share of the company." Output number 2 from that transaction belongs to 1AEn3U5MhedXYRbpxLKmkL4r5Kz1XkdZA, as can be seen by the whole world at http://blockchain.info/tx/630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b, and can also be verified in their own local blockchain. 2. The "asset issuer" can now transfer those bitcoins or portions of those bitcoins to other addresses. The transfer will be stored in the public ledger/blockchain - everyone can verify that output number 2 from transaction 630bcc... was assigned to three new addresses in transaction d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d, http://blockchain.info/tx/d8e8dc799be1b552f29f8cbd2df24a1fcb9c2a9f4a43c9b4444b9dc329bbd17d. 60% of the value was transferred to 1KbDEaZ99YJYaT62emhFwabFoqQ6LYdJg9, 30% to 1DAHyXPNJjqLGFNqHhavrukWZ6XkY8Kj21 and 10% to 1Mhx4LMjbmN6KJ9B5BkdZ5zVWQP64F5TJC. The holders of these three addresses are now the new owners of the company, since they hold coins that descend from the "ancestor" transaction output. The evidence is in the public ledger for all to see. 3. The holders of these three addresses can again make transfers to other addresses, each time the public ledger/bitcoin blockchain will hold a record of the transaction, such that the genealogy can be traced back to the original ancestor that represented 100% of the company. -------- The script I have written essentially just makes sure that the transactions are "nicely" formed, in such a way that descendants of the ancestor are recorded in a very obvious manner in the bitcoin blockchain, and contains a mechanism to track the descendants. Did that make it clearer, or just mix it up even more (if so, sorry about that!)? Yeah it shed a bit of light. So do you recomend every shareholder I send the coloured coin first uses your new client to receive there coloured coins before sending them elsewhere for safe keeping. So they can get a copy of the ledger in the blockchain. I know I can just state - 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b - is the genesis coloured coin but I imagine its your client that makes visible these coins are coloured. Otherwise how do people trace there coloured coins back to - 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b - So in short people just need to save just tx - 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b - and their private-key to prove ownership. I suspect your new client does all the blockchain checking from tx - 630bccacd6f4401fde53822af3f011daa47ec1bedd1702bf7d0be4391948f49b ?? |
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I too can see only slow and steady rise in bitcoin market cap on a logarithmic scale for at least another three years and maybe even up to or over five years. As adoption starts to increase more rapidly after that time scale that's a vital time for bitcoin as its when the major governments may start clamping down on bitcoin exchanges. Bitcoin is still very young, immature and because of its such minor market capitalisation plus use on global scale is the reason its being left alone by the US and EU governments. China has already made it illigal to purchase real world goods with virtual currency's iirc. The legal implications behind virtual currency's is the reason we have no 'Google coins' or that Facebook hasn't really developed 'Facebook credits' yet. Once bitcoin market cap approaches $1Billion the major world governments really start looking at bitcoin and may try to stop it through banning exchanges. With one major thing I can see happening is the governments forcing a hard fork of the blockchain if they don't try to kill it completely.
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It'd be good if the coloured coins could be held in one blockchain.info wallet and dividends paid to any of the coins owners choosing. Also what keep's the proof of the coloured coins? If it's just your 'short python script' on my machine then I need a way to back proof up online and to be able to distribute it to each coloured coin owner. Sorry if that sounds stupid and/or I've missed the point, still trying to figure this all out.
Given current bitcoin software, it is strongly advisable to keep separate wallets for smartcoins (colored coins) and regular bitcoins. Mix the two at your peril; it is too easy to "spend away" an asset as regular bitcoins, with a single wallet. Yes that was my idea to recommend use of a separate blockchain.info/wallet to asset holders as they do automatic backups to your email, Google drive or dropbox. I understand other online wallets can't be used as they mix your coins. |
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One thing that would be good is an exchange to trade coloured coins.
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It'd be good if the coloured coins could be held in one blockchain.info wallet and dividends paid to any of the coins owners choosing. Also what keep's the proof of the coloured coins? If it's just your 'short python script' on my machine then I need a way to back proof up online and to be able to distribute it to each coloured coin owner. Sorry if that sounds stupid and/or I've missed the point, still trying to figure this all out.
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I've put this bounty up As long as the shareholders don't massively disagree I'm going to offer out a 0.5% ownership of the former GLBSE mining stock/asset RSM - (https://bitcointalk.org/index.php?topic=63257.0) - That works out currently as ownership of 0.9(GH/s) of BFL-SC-Singles although we will be saving 50% of profits towards buying more ASIC's to increase the (MH/s) per share ratio. For you to implement this idea and maintain it. You wont receive the coloured coins relating to that 0.5% that will be held in a separate account managed by me but you will receive all profits made from 0.5% ownership as long as you maintain the code. I've also offered this bounty to this coloured coins project too - (https://bitcointalk.org/index.php?topic=117630.0) - so the first/best implementation will win the bounty. We don't need to use the coloured coins for about another month yet when we receive our first BFL-SC-Single.https://bitcointalk.org/index.php?topic=106373.0So we have a way to manage our shares and pay dividends. You will also be able to issue your own assets on Open-Transaction servers valued against your coloured coins(shares). I hope everyone is with me on this as its very important for us to be able to operate and move forward. The following quote explains coloured coins a bit As I'm looking at issuing coloured coins based on the ownership of over $4,000 of ASIC's how do I prove ownership of the issued coloured coins permanently taking into account of hardware failures.
The most important concept to remember is that colored coins are like rules of the road: they only work because everybody agrees on what side of the road to drive. There is no law of physics preventing cars from driving in the opposing lane of traffic. There is no software rule preventing you from using your colored coins to buy Alpaca socks at a web shop. The basic process works like this: 1. Publicly declare a list of coins in the existing blockchain as colored. 2. Transfer the colored coins to their new owners. These new owners may freely transfer them to other owners. 3. If the colored coin transfer follows the Colored Coin Rules(tm), software may search the blockchain, and precisely identify the list of colored coin holders. 4. If the colored coin transfer does not follow the Colored Coin Rules(tm), then that person is essentially "burning the money", by making it impossible to track the colored coin beyond a certain point. It is up to each colored coin owner to keep track of their own public keys. All other information is stored in the public blockchain. I think a better version of rule 4 should be: If the colored coin transfer does not follow the Colored Coin Rules(tm), the last owner retains the extra value of the colored coin. (i.e. the last owner will still receive dividend etc.) However, that person may no longer transfer the extra value to other owners. The issuer may re-issue a new colored coin to the last owner to replace the burnt one, with or without service fee charged. This will prevent most "money burning accident". Also check this link for more info on coloured coins - https://bitcointalk.org/index.php?topic=106373.0As well as supporting the coloured coins project(s) we may also want to support this Open-Transactions bounty. So shareholders can issue their own assets valued against their coloured coins (shares). That will enable shareholders to trade there shares on a type of stock market. Open-Transactions may also enable people to issue assets on the OT servers to fund raise for new equipment for us like Mini-Rigs. Although first it needs to be easy to use to attract new users for the capital to be there. https://bitcointalk.org/index.php?topic=105506.0I'm not even going to pretend to understand all the features & possibilities that Open Transactions offers. I read a bit about it and felt like I should take the short bus from now on. Baskets here, nyms there, Chaumian something or other... it frankly left my head swimming and I put it on my list of things to look into when I had more free time (and possibly a brain upgrade) to try and wrap my head around it. But that doesn't stop me from realizing that OT is very powerful and can become extremely useful in the future. So to claim this bounty we need you to provide an easy to use, open source, cross-platform client. Something my grandma (who thinks firefox is "the google", and "internets" her emails to me) would be able to use. FellowTraveler has stated that the API is high-level & easy to use, so anyone making a client really only needs to worry about the display layer. He recommends using C++ or Java since those are the best tested. I simply haven't dug into OT enough to adequately make such judgements, so I will defer to FellowTraveler in this regard. If he says you have created such a client I will make good on my portion of the bounty.
Devs and testers are available in #opentransactions on FreeNode You can read more about OT here: https://github.com/FellowTraveler/Open-Transactions/wikiBOUNTIES ------------- | Obsi | - | 100 BTC | | FellowTraveler | - | 80 BTC | | da2ce7 | - | some BTC | | Donations | - | 5.2505 BTC |
Donations to further fund this bounty may be sent to 1JbgqTVjfrapGQCCup3eZBD69zshoSouKUAs for us supporting this OT bounty and OT in general will be left to a vote after I have each shareholders weighting. Due to the fact using OT for fundraising is far in the future and not as vital to just basically operate that using coloured coins offers. Also a coloured coins exchange may pop Coloured coins are vital for us to be able to prove ownership of shares, paying dividends and for shareholders to be able to trade there holdings as well as enabling us to hold secure motions. The vote will be held once I have each shareholders holdings so I can weigh the voting out. The dividends from any shares that may go unclaimed will go towards our coloured coins bounty and possibly to the Open-Transaction bounty if more than 0.5% of shares were to go unclaimed. |
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As I'm thinking of using coloured coins to manage a 180(GH/s) mining asset and pay dividends using them. Would it be possible to create 10,000,000 coloured (satoshis) coins from BTC1.00 only giving out 180,000 of them and only have dividends paid to the 180,000 given out while the remaining 9,820,000 coloured coins don't receive any dividends until they are given out in transactions.
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I tried the INSTALL-Debian_Ubuntu.txt - ( https://github.com/FellowTraveler/Open-Transactions/blob/master/docs/INSTALL-Debian_Ubuntu.txt) - and got to # fetch chaiscript
$ git clone git://github.com/ChaiScript/ChaiScript.git
# build chaiscript
$ cd ChaiScript
$ cmake . -DCMAKE_INSTALL_PREFIX=$HOME/.local and got $ cmake . -DCMAKE_INSTALL_PREFIX=$HOME/.local
-- Detecting readline support
-- Not Found
-- Could NOT find Boost
CMake Error at CMakeLists.txt:87 (message):
Can not find Boost
-- Configuring incomplete, errors occurred!  |
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