Why not use a stripped down version of the bitcoin code? Each share is a coin, no decimal places allowed, and blocks can be generated using the issuers signing key instead of mining. Shares can be traded p2p and transactions confirmed by the issuer.
Why would you want to give issuers the power to veto transactions? The issuer would also be able to retract the entire issue, or do whatever games they wanted to with that chain. But they probably wouldn't do too much of that, since it would all be out in public.The issuer could just go AWOL already. Kinda like TSA forbidding pilots carry nail clippers or something. |
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People loaned in BTC, their returns are in BTC. It doesn't matter if BTC goes to $1 million each, because they'd have made that much (minus the interest you're paying) by simply holding BTC.
If you want to hedge against further BTC increases, buy calls on BTC..
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Regarding FinCEN paper http://www.fincen.gov/statutes_regs/guidance/html/FIN-2013-G001.htmlI assume that there will be no change in the rules because it will not be fair to others who went trough affidavit process.  As claim process will end soon, it is obvious that I will not going to make it (not that I don't want to - but for me US Embassy is far away, both in terms of distance and money). James, what will happen now with my shares and dividends? You still haven't figured out he's eating it? |
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Quick thought. You have a lot in G.SDICE. (half the fund?) Might hedge against pt/exchange issues by moving half of that into CoinBr?
Cheers.
It's hardly half the fund.. I'm holding SDICE shares for a reason and don't plan to liquidate it anytime soon, when we do it will have to be slowly because of the low walls on BF / the PT. |
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BitFunder
11,134 G.SDICE shares: (mpex avg of bid/ask used) 55.67 BTC
400 G.BBET shares: 0.55 BTC
29 G.ASICMINER-PT shares: 24.79 BTC
Coins: 12.10 btc
Bitfunder total value: 95.81 BTC
Some typo here: 55.67 + 0.55 + 24.79 + 12.1 = 93.11 != 95.81 Sorry for the typo (fat fingers I guess), heck I'll throw in the 2.7 BTC  |
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How about this: make it possible for users to create their own decentralized exchange. - Register a bitcoin address for each shareholder, if not already. This enables the ability to authenticate cryptographically signed digital messages. See this stackexchange answer for a guide. Most bitcoin clients support signing messages. Registering a GPG key for each shareholder is an alternative, though that requires additional software beyond a bitcoin client.
- Publicly declare a bitcoin address and GPG key for official ASICMINER messages.
- Publicly declare an email address for emailing ASICMINER robot
- At the end of every day, ASICMINER robot produces a message listing all shareholders, by key and share count. Attach bitcoin and GPG digital signatures.
- To trade ASICMINER shares, the seller sends a digitally-signed message "transfer N shares to bitcoin address FOO" to the ASICMINER robot.
That is all that is needed on the ASICMINER side: maintain a shareholder registry. changes to the shareholder registry may be both pseudonymous and secure. Then anyone may build an exchange that trades shares. Anyone may trade ASICMINER shares at any time, using this method. So, as I understand your proposal, one does not even need to be a miner to implement this. All you need to do is run a bitcoin client and have some additional robot code which adds, transfers and reports on shares. Fascinating. Now find a way to host it which provides plausible deniability and can't be taken down. I2P or a Tor hidden service perhaps? This idea deserves its own thread in Project Development! If I understand this correctly, when you lose your wallet, all of your shares would be lost in addition to your coins? That poses some interesting problems for shareholders and issuer alike. The rest of it (gpg trading) is roughly what MPEx does I think? Definitely seems to be a sound trade mechanism. If you allow Bitcoin OR gpg signing, then you'd have to lose both |
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Ouch, S.DICE might have to increase their house edge if this unlucky streak continues
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Erm, I actually worked on a project (pretty much what you mentioned) for a while before I abandoned it due to lack of interest.
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Consult a lawyer, yada yada, currently no regulatory actions on btc gambling sites but that may change, consult a lawyer if you're serious...
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Also, why would an investor fill your USD loan at 0.37% a month when Bitfinex (which arguably has less risk than you) is offering ~200% a year? Granted that interest rate will change as less people long BTC but I think that's why nobody's funding.
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Not sure why people take BTC loans when it's actually based on USD, or have never read about currency risk. You should have looked into this: https://icbit.se/BUH3 |
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I just don't think it's fair to have to pay off the 65 btc loan that funded at 70% .. 48 coins now .. not 65 and I sold all those at $13 a pop. Now I'm paying it off at 6x it's value? I just need to protect myself from the possibility that they will go to $100+
Then hedge it. |
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Silly wall that will be pulled. Quick, someone buy in to the wall  |
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Use a-ads.com, you get coins on impression not just clicks, but yes you need to prove your site has traffic, and not bs traffic, like traffic that stays on the site for a bit.
It's similar to those bitcoin address shorteners, but you can have multiple currencies and custom URLs. It's intended for many short visits, not fewer long ones. So basically the same idea as my http://qcl.me while I build mine for a side weekend project, it has evolved into much more than that. I can tell you alot of people will be in the camp of "I trust no one", so get ready to deal with that. Also you may want more trust or a verifiable database. Even though I been around for while, and my database is very harden with multiple layers of security and verifiable data, people were still very hesitan to switch to my system. So I hope your ready to debate/fight for your site, but welcome to space. Also someone tried to hack my system already so that is something you should be ready to deal with. (My site of course held up and he didn't get into anything just downloaded some CSS files) I am actually going to be doing a little pivot on my service (coming soon) so I am not too threaten, but this will keep me on my toes now. Good Luck! The data is supposed to be public, why would it matter if it got out? I've got it set up to include the first 7 characters of a sha-256 hash of the saved data in the URL, and check it against that of the saved data, so if it's modified by a third party, it will raise a red flag. That's the only real danger I see. Don't forget about the data which isn't public, like for example statistical data. Dates/times/IPs? I keep a hash of the IP in case I need to ban someone, no date/time Do you use some kind of salt? Otherwise there are only 4 billion hashes to compare against (which wouldn't take long). Yes, it's about 9 characters, is that long enough? Not exactly an expert of cryptography, but it seems like this should be good. Yes, if it's randomly generated then it's practically impossible to brute force the salt |
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0.789/share for those who don't like doing the maths.
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Yes, CPU mining is unprofitable in ALL cases.
GPU mining will soon be.
If you want to get into the mining business, you'd need an ASIC. Best way is to buy ASICMINER shares.
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Mt Gox EUR codes should still work. Also one thing I should add is if the insurance on 1050 EUR is paid out, then the debt will belong to me (ie you can't get 2100 EUR if LoweryCBS pays back later).
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Google Authenticator can be used fully offline, google doesn't control anything
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Please download the source of the pricing module: http://pastebin.com/u0PSarFsRun this with node.js (npm install all prerequisites), and reply here with if you get the same price point as SatoshiOption or not. |
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