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USD and EUR assets, similar to the BTC one.
This would allow for pricing + trading shares in fiat currencies too, however these would never be able to leave the exchange - thus being completely virtual.
Example:
I trade 1 BTC(share) for 5 USD(shares), then I can buy a share that is only listed in USD, for 0.1337 USD a share.
After getting some dividends + trading and so on, I now have 8 USD, unfortunately for me the current price to buy BTC again has risen to 16 USD per BTC. As I was anyways interested in USD however, it's likely that I'll pay out my BTC (after buying 0.5 BTC shares from my 8 USD shares) to MtGox + exchange them for USD.
Reason for all of this:
There are a bunch of things, where your costs and/or income are in fiat currencies. If you expect large volatility in the BTC<-->fiat prices, there's a big risk that people don't want to invest their BTC, as in the example above (earning 2 USD) they would see a loss of 50%. On USD side however they earned 60%! This should be visible both in the current value of the asset (= going up) and it will also make it easier to see whether an asset expects to have profits in fiat or in BTC (mining assets for example have profits in BTC while a crowdfunded solar power farm would get paid in fiat).
One of the biggest issues would be where the virtual USD (and EUR) should come from - if you keep the 1 BTC from the example above in escrow, you'd be screwed if bitcoin tanks and is only worth 1 USD for 5 BTC.
You could either:
* Create options on both ends and only create virtual fiat shares if they are backed by someone holding the other end as well ("I'll sell 100 BTC for 500 USD" <--> "I'll buy 100 BTC for 500 USD")
* Accept MtGox codes or similar in escrow (dependent on one big player though and too external in my opinion)
* Find users who would be willing to have large longterm options on at least one end of the term and "outsource" the risk of volatility to them
* Offer trades to virtual fiat yourself (at a premium or outsourced) which you then really execute on an exchange to start the money flow
Oh and by the way, there are already fiat money shares on GLBSE - one example would be SATOSHISDEAMON.HORSE, which are USD shares in a racing horse that are also valued + paid out in USD. It would be great if they would also be priced in USD.
Edit:
The poor man's version would be to pull the 24h average from bitcoinmarkets + display the value of the share in USD but always make clear that actual trades take place in BTC. This could be enabled asset by asset by the asset owner and also via a user preference.
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Sukrim - you are absolutely right. This is part of the problem with a deflating currency that no one here likes to address - it discourages investment in other things.  Oh, I'm heavily invested in mining operations - this is priced in BTC and pays out BTC - and even though they are linked to exchange prices as well, there's a certain lagging effect. If GLBSE had a way to accept USD or if you see it as a way to invest USD (e.g. by having "virtual USD" with an average exchange value taken from exchanges but these are never redeemable but can only exchanged for BTC on the page) then it can be interesting. Investing pure BTC though in a USD market is a VERY stupid thing to do, if you're longterm bullish (like a lot of people buying BTC). Actually I'll try to suggest these virtual USD to Nefario, not sure if he'd dare to do that though. |
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Seems like a lot of people had the same idea as me:
Buy 2 shares of X for 0.6 BTC, trade them for 1 share of DMC and sell them for slightly less than 1 BTC...
I'm not really sure if you can keep up this model much longer without seriously hurting your IPO income.
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Even if I have 1 BTC in my account, thus not using up even 0.1% of my funds?
It might even be possible to accumulate pay-outs by the way, so people _can_ request 1000*1 Satoshi to the same address, but they would get 1*1000 Satoshis instead once the transaction gets created.
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Habe gerade einen Vortrag auf der TU Graz (Österreich) über das Thema Bitcoin in der Vortragsreihe "GADI" (Gesellschaftliche Aspekte der Informationsgesellschaft) gefunden, Aufzeichnung unter: http://curry.tugraz.at/portal/1/watch/502.aspxViel Spaß beim Anschauen + Diskutieren! |
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I would not execute code on your server, I would (if you are MtGox for example) spam you with withdrawal requests.
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Well, it's not linked anywhere from glbse.com - onlx people following numerous threads here on the forums even have a chance of knowing it exists!
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4) Certain conditions which indicate either a probable attack or software malfunction trigger an automatic lockdown.**
So just by writing a program that requests 1000 withdrawals of 1 Satoshi (which would very likely look like a malfunction or an attack) one could bring down the site potentially for hours? Nice!  I would still go with my initial idea: Pay-ins are credited as soon as they are confirmed Pay-outs are processed every x hours en block (saves on Tx-fees, keeps wallet offline etc.etc.) Instant payouts will always be a security risk and unless you have a site that pays out less than a handful of BTC every day anyways, you really should just use an offline wallet, collect transactions and manually create a sendmany every once in a while on an offline PC. |
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Naja, wie gesagt - das Angebot steht mir das mal anzusehen und dir dann die Coins zu überweisen, sollte ich welche wiederherstellen können.
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The main problem is that this is priced in USD, not BTC.
If I invest 1000 BTC now and BTC jump to 50 USD per BTC in 10 years, I'd be better off clinging to my BTC instead. If I expect BTC to go south in 10 years, this would be a useful investment, but there would be the risk that I can't sell my millions of BTC I get in return to anyone for USD.
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sub - subscribe. so we can get notified up updated to threads we want to watch.
... because clicking "notify" at the bottom of the page is too hard to do! An average wouldn't make sense, rather a cumulative value since start of the bond. I for example add up all dividends per share per month and compare this to the theoretical value of 100% PPS for 1 month. Quite interesting numbers that come up that way! |
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War die wallet.dat verschlüsselt/mit Passwort geschützt? Wenn nein, kann ich mir das ja mal ansehen...
Edit: Wenn ja, dann eventuell ebenfalls, allerdings bräuchte ich dann das Passwort - und es könnte schwierig werden.
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Maybe your python has no SSL support?
I got 0 errors with that code...
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Please remove the link/ID from your quote above and don't expose email addresses when clicking on reflinks, thanks! Edit: Oh, and "Go gack" might also be not correctly spelled... Edit2: False alarm, I got into my own session (where you see your email displayed) and mistook it for a ref-advertisment. |
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* Let your page/backend/whatever create a list of tuples like this: [(address1, amount1), (address2, amount2), ...]
* get a current copy of the blockchain from a trusted bitcoin node
* take the blockchain copy + payout list to the offline PC, let it create and sign transactions and save them to a third file.
* feed the transactions back to the bitcoin network
The above can be done as often/frequently as you like. No PC will ever have a chance (other than virus codes embedded in the blockchain?) to be compromised, keys are offline from the beginning etc.
Some other use cases:
If you need fresh keys for deposits, just generate a bunch of them on the offline PC and transfer a text file with the resulting addresses only.
If you need to know how much was deposited to which account, you don't need the private keys for that - just run a standard bitcoind and don't use it's wallet at all, instead query for address balances etc.
Really, is the "convenience" of being able to pull money from an exchange/bitcoinica/... within one hour instead of one day really worth the real danger that they can get hit as hard as they repeadedly were?
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I tested using javascript turned off (No'Script addon in Firefox) Demo button worked so far (great!) BUT clicking on the "new" order button on the dashboard of the test user (leads to https://test.bitme.com/buy) I just get a 404. Clicking on the "X" buttons in the Dashboard has no effect with Javascript turned off. Maybe more cosmetical/not implemented: The US flag in the lower right corner has no tooltip or any apparent function. Could indicate english language or the USD market...?! Open a session (Demo), middle click on a link (e.g. withdraw) to open it in a new tab, click logout there in the new tab, close the tab, click logout in the original tab (demo dashboard) --> you get a 403 forbidden page. Whats worse, you get no immediate chance to do anything there, if you don't guess/know that the header "[testnet]bitme" is a link to the main page. There is no check if the payout address is even a valid address, I could enter "1234567890123456789012345678901234" as address in the withdraw section. It only seems to expect a string of 34 characters. Also the limit seems to be at least 0.01 BTC which is mentioned only AFTER entering any amount there. Address for bounty (if accepted as bug): 1u774EAK5PSEhvMzKLURBFtjhJqQUpb6r |
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1. The ability to require a different password(s) than the login to make change email, trades or withdraw bitcoins, etc.
2. With changes discussed in #1 add the ability to require a transaction PIN code which is sent via email.
3. Perhaps offer a YubiKey option. But being fairly minimalist and one who travels often I do not want another little piece of physical crap to deal with and possibly lose.
4. The ability to 'freeze' an account for a specified amount of time. Or an ability to require a BTC withdrawal to take X amount of time before it is submitted to the network during which it could be canceled.
Just some things that could add enough friction to make it not worth a thief's time and reduce the potential profitability from messing with GLBSE accounts.
1. As long as one can read the API key, one could empty an account much faster anyways. Also if an email account is compromised too (as it is often the case), these passwords would just get reset/changed. 2. Email is not secure at all. 3. It requires a mobile phone afaik... 4. Great, and who decides that an account can/should be frozen? Account owner can be the "hacker", GLBSE would disrupt trading, GLBSE on request of account owner would mean the request could be forged. The delaying payouts thing can also be used to grief account holders... and if it can be changed later, it will be - or it will create lots of support requests if it can't. |
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Potential issue: Reflinks look like this one: http://goldgameland.com/r.cgi?xxxxxTo redeem your free 10 Bitcents, you get a link like this one: http://goldgameland.com/login_free.cgi?xxxxxIt seems that there is an IP-address lock however - but depending on proxy servers, NATs or e.g. mobile internet access providers, it might be possible to get into someone's account via their reflink ID. Edit: Reflinks give out email addresses - NOT cool, not cool at all!  Edit2: False alarm, I got into my own session (where you see your email displayed) and mistook it for a ref-advertisment. |
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Is there a help page where I can read exact game descriptions?
Something like:
"High-Low - A random card with a value between 1 and 13 (including both) will be drawn.
You win if you correctly predict that the next card's value is higher or lower than the current one.
You loose if your prediction was wrong. This includes the next card having the same face value as the current card."
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Bets after the last male eliminated are cancelled and the winners are paid. I'd like to challenge that, since there is a higher than 0% chance that there could be: * No winner at all * More than 1 winner * A change in rules in the last show and declaring a male winner *  Also, due to the fact that early bets are anyways rated higher (much higher in some cases) it actually IS expected, that in the end of a bet people get more and more information that helps them decide, but they get fewer and fewer returns. From the FAQ (emphasis mine): What is the best betting strategy?
Betting involves balancing two incentives. Waiting for the deadline may give you extra information about the upcoming event, but early bets earn a higher weight. So bet as soon as you are confident about the result, bet more for higher profits. Also you can always add more bets later on. |
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