Stock market is launching in about 4 hours (a little later than planned). I'll be around after the launch to help with any issues.

glbse.com stock market is launching in about 4 hours (a little later than planned). I'll help you list after it's up.

glbse.com stock market is launching in about 4 hours (a little later than planned).

Due to wrestling with accounting problems caused by premature usage of the exchange we will be launching in about 4 hours(I've got meatspace things to attend to first).

Some points, to stop people spamming the exchange listing things there will be a charge of 1btc to list(may lower this afterwards), the first 20 ticker symbols are free (ones taken already, UBX leaving 19 remaining).

After that there will be a 5btc charge for ticker symbols.

There are no transaction fees ATM except to withdraw, which is 0.01btc to pay the transaction servers processing fee.

Minimum withdrawal is 1btc (plus 0.01btc charge, so needs 1.01btc in account).

Anyone who has an account already pelase back up your keys, which are located:
Windows:C:/Documents and Settings/Username/.blackmarket4.rsa
Linux:~/.blackmarket4.rsa

Running register again will overwrite these keys, and once gone you lose everything in your account!

Once the exchange is up and running I will spend time helping anyone who wants to list to do so.

Please see the terms and conditions at http://glbse.com/terms.html

Shares for BitcoinGlobal will not be listed yet as we haven't worked out full terms of our share contract.

regards, Nefario.

So you're the one responsible for DDosing mtgox, joking.

No need to go and do this, look here http://mtgox.com/code/data/getDepth.php

For an understanding on how shorting works in general see here.
 
Anyone can allow their shares to be borrowed (requires a users permission first before their shares are borrowed, not on a case by case basis but in general, that is you offer lending to the market) and get a commision if a profitable short is made, once the short is settled the user gets their shares back plus their commision (if applicable).

The person doing the short will be required to have enough btc to cover their position so that if the short begins to cost them something like 90% of the btc they have available they will be forced to settle the short and take a loss.

The risk to the person lending is that the shares cannot be bought back from the market at any price, in which case the best they can hope for is the btc that the shorter forfits (the shorter will lose all the btc in their account, going to the lender).

Should be interesting.

Blowfish is ok, I was just wondering why you hadn't chosen a newer cypher.

dishwara, the share contract is a little out of date(I will be updating it before the launch later this evening), and if you are online I will help you set it up.

nefario.

Blowfish? why not twofish, serpent or AES?

I know what you mean, and I (and AFAIK everyone else involved) know what we are doing and mean to do. We are aware of the possible consequences of our actions and have decided to do this anyway, we believe the payoff to be greater than the risk involved. It's our own necks that we are risking. Also you should have a read of the terms of GLBSE glbse.com/terms.html

Like the above but worse, and without even pretending to have justice.

Just to inform all intersted, we've got the roadmap, with terms and conditions up for anyone interested in having a look.

http://glbse.com/roadmap.html
http://glbse.com/terms.html

Nefario

I confirm BitterTea is one of the initial investors of this project.

And this is the crux of the argument, the fact that someone (governments) have said person A is not allowed to trade (swap one thing they have for another, voluntarily) with person B without their express consent and payment is crazy.

Yes it's probably illegal, and will probably remain so for the forseable future, but thanks to a whole sleuth of new tools and services this kind of (illegal) activity is growing, and with the help of encryption becoming invulnerable (or at least more resilient) to government activity.

Not meaning to spew at your previous comment but it touched a nerve.

That's cypherspace, inside i2p or Tor

Only some of the shares are *likely* to be ponzi schemes, so you're only partially right.

Global Bitcoin Stock Exchange launching on Monday at glbse.com

Firstly, my real life I.D. is not nefario that's not what it says on my id card. Secondly only I am based in China, the server is far... far away from this place(along with everyone else involved).

Thirdly, the Chinese government will be the last to hear about it (do you think they monitor English language websites that have nothing to do with politics or "China bashing"? I'm much more worried about the U.S. government seizing the domain, we'll see what we can do about this in the future).

And fourth, if they can't find me, the worst the government can do(actually this is the most likely action) is block the exchange from inside China, meaning Chinese users without vpn will be unable to use it.

The laws in China are to allow the CCP the absolute power to govern and remove anyone they wish for any reason possible. There is not a single person who cannot be found guilty of just one of the many broad and poorly defined, often contradictatory laws. Throw in that the judicairy is not independent and. The fact is everyone in China is living with a sword of Damocles hanging over their head. All it takes is doign or saying the wrong thing for it to be cut. Not to protect investors, this is simply a convienient (and often trotted out) excuse. Who protected the investors in the global financial crisis?

Much thanks, also fee's are charged on every transaction or only ones below a certain amount?

SzeChun, GLBSE does in no way (nor will it in the future) attempt to comply with Chinese or U.S Securities laws for the same reason that the German DAX, or British FTSE or Japanese Nikkei does not comply. Being that they are outside the jurisdiction of the above mentioned states(although I am sure we are currrently within the reach of some state should they choose to act).

We will be (in the near future) operating from within cypherspace, beyond the reach of any terrestrial government entity.

With regards all listings on the exchange they do so at their own peril, and we recommend that they too also operate from within cypherspace, and everyone involved with such listing use pseudonyms such that they cannot be traced back to their real world identities, to avoid any government action against themselves.

GLBSE and BitcoinGlobal (nor I) are responsible for any actions by any governments against any group or individual as a result of using or listing on or using this exchange.

Nor are we responsible for any fraud (although we will do our best to mitigate it) also commited on the exchange. In using the exchange you(the user) take full responsibility for you're own actions and the consequences thereoff. It is you're own responsibility to assertain the risk involved in first putting any of your own money on the exchange or buying anything listed on the exchange.

In short if you use this exchange we assume you are an adult, and treat you as so, not some pampered, sheltered child. Buyer beware.

It should also be noted that this is beta software, and as such may at any time be taken offline to deal with any issues that may arrise. We will do our best to ensure that all data on the exchange is properly backed up in the event of a system failure or worse, a raid. But at this point we make no promises, this is a best effort service and will remain so until we get out of beta.

Regards, Nefario.

I imagine you saying that in the voice of Darth Vader.