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I'm thinking about using this only when the market is going down. It appears to lose BTC if market is going up in the short term. Also, maybe it's important to adjust the trading strategy based on the the market condition. Right now the market is very volatile, and I am wondering if the short-term strategy works the best in that case. If the market is flat and boring, there there is no point trading high frequency with a bot. I would be better off doing it manually, turtle-trader style.
Does anyone have experience in the variable efficacy of this product?
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If it was a perfect robot, they would not sell it but keep it for themselves.
A trading robot is only as good as its algorithm. Perhaps they have a better algorithm which they keep to themselves. |
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Not trolling. Just looking at the "last operations" It sold some at 115/116, then bought at 120. Seems like $5 of missed profit.
I think that: - the prices displayed are the closing prices. So, it closed a sell order at 115/116, and closed a buy order at 120, but it might be wrong. - it is not real trades, but invented ones. There are no "closing prices" on Btc-e. It works 24/7 (except for attacks, etc.), and for that matter, DDOS attacks don't automatically induce buy orders from victim accounts, now do they? Also, even if there were, "19:35" doesn't make sense as a closing time, so it must refer to something else. |
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Looks like it made bad trades again. Would have been better off without those sells. Are you just trolling me ?  It works great and we are happy Not trolling. Just looking at the "last operations" It sold some at 115/116, then bought at 120. Seems like $5 of missed profit. Probably because someone just put money into the system, and at that time it was $120(.899) / BTC. Perhaps the bot decided it was better to allocate some of that new money to additional BitCoins rather than keeping them as dollars. |
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Here is our performance update:  Looks like it made bad trades again. Would have been better off without those sells. I think the robot is programmed to be somewhere between bullish and bearish. So it sells gradually as the price increases and buys as the price falls. Or perhaps it's based on something more sophisticated, like calculating the rate at which the slope steepens and setting the buying minus selling rate to proportional to that (which might imply the need for such infrequent trades). As a robot cannot predict the future and shouldn't really make partial judgements about the fate of BitCoin, this makes sense. |
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Was this addressed to me, kmarinas86? We don't have any SEO team working for us. However we have hundreds of affiliates who support us. You can contact me in PM if you are interested in affiliate program.
Ok. That's a small difference. I understand. It's similar to the old WebRing thing that I used on my old "kmar86" GeoCities website. |
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If one did this, I can imagine a lot of stores accepting BitCoin. Currently, there seems to be a looming perception that receiving BitCoin in stores requires some fancy mobile app. Personally, I find it easier to deal with $20 bills than to constantly hawk over my BitCoin accounts. If stores accepting BitCoin suddenly receive a rush of paper form BTC, then that will represent a lot of "tangible" evidence of the BitCoin economy which make BitCoin mainstream.
What about a simple program that you have installed on your computer that divides BTC automatically and prints these divisions prior to connecting to the internet (e.g. during boot?)?
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As I've made a some profit during pump and dumps I like this volatility...  If that's how "crypto-currency" is going to work, it may as well be called "crypto-chips". While I think there is enough trust for the BitCoin system to not have a "run on the bank" type event in the foreseeable future, the future surely belongs to new ideas that avoid the solvable problems of old, even if the financing of their implementation was only possible in the old system. You know, technically speaking, the type of system I described here (sans the use of an inverse proof-of-stake method) can actually be used with the existing BitCoin. All you have to is reprogram the exchanges, so that way the buying and selling operations are based on the mechanics I described. Imagine if that were implemented before the boom of April 2013! These things would be WAY more valuable (pump with no dump!) and a hell of a lot more fun using BitCoin as opposed to trading it as it would have more trust with merchants. |
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The number of shares of flow that have value is:
S_selling
The number of shares that lack value is:
S - S_selling
Let me repeat what I said earlier for more nuance:
"The shares of flow have no value themselves until they are sold, except in terms of the context of using shares of flow as their own medium of exchange (i.e. for their own merits)." The merits are obtained because when these shares are traded for currency, they have value. However, when shares of flow are not being traded for other currencies, they do not have any value in terms of other currencies except through indirect actions via the buyer and seller market. Only during the action of direct trade between currencies is the value of each stock of flow well-defined with respect to other currencies.
The value of each share of S_selling is:
F / S_selling
Assuming that F is constant.
If F is not constant, then we can still calculate the value obtained by S_selling during the present block.
(F / F_period) / (S_selling / S_period)
The most important difference between the proposed crypto-currency and any other crypto-currency is that other crypto-currencies derive their value from the deposits of mostly fiat currency. Think about how a person actually gets BitCoins. One likely forgoes the possession of some cash, and now that cash is (or once was) in the hands of an exchange or miner. Depending on the market cap of BitCoins, there is a certain of amount of cash that represents it. The exchanges may or may not have this cash. Whether it's the exchanges or just a miner, these people who sell their BitCoins for cash do not necessarily maintain possession of the market cap. In this sense, BitCoin operates as a fractional-reserve system, to the extent that people who sell BitCoins at a profit decide to spend it into the general economy! Even if more people obtain BitCoins, increasing the value of BitCoin, there will always be this shortfall between market cap and actual cash "backing" BitCoin's market cap, when people decide to sell some BitCoins. This makes the market cap of BitCoins fictitious (to the extent that the non-cryptocurrency profits from running the BitCoin system are spent), and it exaggerates the amount of the potential for any real liquidity that exists in the BitCoin system. This problem is completely eliminated under my proposed crypto-currency system. All that is required is a transfer of fiat monies from buyers of shares of flow to sellers of shares of flow. The flow backs up the market cap, not deposits. So if it were desired to convert the shares of flow into other currency, this can be done without the possibility of a "run on the bank"-type event. |
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I didn't read your whole post, but here's how to game the idea of flow as valuation metric:
Say there's a company, Hack Money Inc.
Hack Money Inc. has two subsidiaries, Hacker Company A and Hacker Company B, each supposedly selling some service.
HCA and HCB buy and sell each other's 'service'....infinitely, under the corporate umbrella of Hack Money Inc., so that Hack Money Inc. never realizes a loss in its capital. But all the while driving the value of its currency upward.
In other words, if currency was valued by 'flow,' you'd see millions of these ghost companies doing 'business' with themselves and able to make a killing by doing/offering nothing of value.
The share of flow does not contain the money itself, as the money flow that backed it up continues to circulate outside the shares of flow. If you are going to obtain shares, someone must sell the shares, as any new shares are generated automatically by an inverse proof-of-stake mechanism (remember, the context here is that of applying this principle to a cyrpto-currency). Now you have a question of who sells the shares. If that is you yourself, then the only way you can increase the value of each share of flow is to circulate arbitrary flux, but this flux only gives value to shares of flow being sold, not total shares of flow! The shares of flow have no value themselves until they are sold, except in terms of the context of using shares of flow as their own medium of exchange (i.e. for their own merits). 1 million times 1 million th is still 1. You are not arbitrarily reporting wealth simply by circulating it - if the accounting is done correctly anyway. Let C be total capital. Let F be total flux. Let f be a sample of flux. Let S be total shares of flow. Let s be a sample of shares flow. 0 < s < S 0 < f < F Let S also be the quantity of the proposed crypto-currency. Let F be the nominal value of money to be fluxed (U.S. Dollars, Euros, Chinese RMB, crypto-currencies, etc.). Let C be the wealth that exists. Let the change of C be the generation of wealth. Let S_selling be the number of shares of flow presently being sold. Let S_period be the weighted period of time that shares S_Selling are being depleted. Let F_period be the weighted period of time that flux F is being extended over. F / F_period is the rate of currency being fluxed through (the money paid to obtain shares in a period = the money received to sell shares in a period) S_selling / S_period is the rate of shares being sold (the shares being obtained = the shares being sold) The amount of flux obtained by an individual is: ((s_selling/s_period) / (S_selling/S_period)) * F / F_period = % contribution to S_selling * available flux The amount of shares obtained by an individual is: ((f/f_period) / (F/F_period)) * S / S_period = % contribution to F * available shares As you can see, the calculation of the amount of flux and the calculation of the amount of shares obtained by an institution has nothing to do with determining the value of C. Increasing F / C decreases C / F, which has more to do with reducing capital relative to flux, than it has to do with any income generated by capital. F, taken by itself, is not income by any stretch of the imagination. The number of shares of flow that have value is: S_selling The number of shares that lack value is: S - S_selling Let me repeat what I said earlier for more nuance: "The shares of flow have no value themselves until they are sold, except in terms of the context of using shares of flow as their own medium of exchange (i.e. for their own merits)." The merits are obtained because when these shares are traded for currency, they have value. However, when shares of flow are not being traded for other currencies, they do not have any value in terms of other currencies except through indirect actions via the buyer and seller market. Only during the action of direct trade between currencies is the value of each stock of flow well-defined with respect to other currencies. The value of each share of S_selling is: F / S_selling Assuming that F is constant. If F is not constant, then we can still calculate the value obtained by S_selling during the present block. (F / F_period) / (S_selling / S_period) |
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  The old way is to buy shares of stock. The new way is to buy shares of flow. The difference is this: With shares of stock, you gain money when the price per share increases. With shares of flow, you gain money when the demand (represented as a flow of money) per share being sold increases. With shares of stock, the higher the price, the more the people who have the stock for a while want to sell. With shares of flow, the higher the flux, the more the people who have the stock for a while want to sell. A share of stock has a value represented by a height. A share of flow has a value represented by a slope. Since the peak slope can exist for a longer duration than a peak height, shares of flow are less likely to have sudden sell-offs. When the slope increases, more people will want to sell their shares of flow. However, if these were shares of stock, people would wait until the slope decreases, then sell-off. With shares of stock, sellers profit most when the thing has peaked its success, not before the peak. With shares of flow, sellers profit most when the thing is still going strong, not when it peaks. Therefore, shares of flow make more sense for valuation of a currency, as it is inherently anti pump-and-dump in its nature. It is possible to make a cypto-currency that can be valued in terms of the volume of other cyrpto-currencies as opposed to their reserve quantity. If one can produce shares the same way that BitCoins are generated, there will be an increasing number of shares, at an exponentially decreasing rate. Literally thousands of currencies can be fluxed through such shares, some good, some great, some bad, and some ugly. Such shares can be a kind of money, whose value is protected from the volatility of other currencies. People will obtain shares of flow based on their contribution to the flux. People will obtain flux based on their contribution to the sales of shares of flow. More people will sell their shares of flow when there is a lot of flux available. If there is many people selling their shares, relative to the demand for them, the people buying them will get them at a discount. This of course, increases the demand for the shares. So demand and supply of shares of flow will tend to correlate automatically, regardless of the flux, stabilizing the prices per share of flow. In contrast, this is situation is unlikely for demand and supply for stock, which tends to decrease as people begin to hoard their stock until prices climb slowly. Selling shares of stock at a profit reduces the value of existing shares of stock. Selling shares of flow at a profit does not reduce the value of existing shares of stock, because the flow (slope) of the market backs the share, not the stock (or height) of the market. Again, with shares of flow: Demand and supply of shares of flow will tend to correlate automatically, regardless of the flux, stabilizing the prices per share of flow.Buying crypto-currency for crypto-currency lacks this feature, and is therefore subject to pump-and-dump losses by victims. Buying cyrpto-currency with crypto-currency flux eliminates this very problem. Pump-and-dump risks can then be completely eliminated for those people preferring to use shares of flow of crypto-currencies as means of deriving value for a stable, balanced crypto-currency that effectively subsumes them all. |
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The ordinary concept of a currency exchange, which bases itself on the value at which different currencies at traded at with respect to one another, is an old inferior concept that needs to disappear.
It's a waste of time and not important for the development of a proper cyrpto-currency.
A much better solution would be an exchange where you own share of the cyrpto-currencies simultaneously coming in. Shares can be issued for the first time the same way that coins are mined into existence, or using a similar system to PPCoin (or the reverse, which is an inverse proof-of-stake method).
To purchase a share, you contribute a certain amount of cyprto-currency flux. There are some people who are trying to deplete their shares in exchange for cyrpto-currencies. Those are the shares that are available.
If you have 200 people contributing flux and 100 people disposing of their shares, then these 200 people are competing for the shares being depleted by those 100 people.
In other words, an exchange can be a hedge against volatility in the unconventional sense in that you are purchasing a share of flux.
If there 1000 shares of flux being depleted, and if you are contributing 1% of total new flux, you get 1% of the flux currently being depleted. This translates into 10 shares. Of course, the number of shares being depleted can change overtime, and therefore, so would the number of actual shares you get.
When markets go up, you can expect more cyrpto-currency flux to go through, so disposing of your shares would allow you to draw-out additional cyrpto-currency. This then sends the shares to the people who are contributing new cyrpto-currency flux. In terms of profiting from the trade, this includes both people who withdraw from the shares and those who obtain the shares, as these somewhat dilute the value of those shares that are still being held away from the exchange. However, this dilution is balanced out by condition that the market for cypro-currency is going up, and therefore the prices of the shares is self-stabilized and resilient against any pump and dump scheme.
When the influx of cyrpto-currencies goes down, then people would be more likely to save their shares until the flux increases again. Those who decide to withdraw their shares anyway will find less company, and therefore be able to capture a greater percentage of influx of cyrpto-currencies. Furthermore, fewer shares being depleted at the same time means that a reduced currency flux meets a reduced available share quantity, stabilizing the value of each share, even in down markets.
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Call it:
Cyrpto-
Coins
Per
Block
Value of CCPB
1) CCPBs are mined using an inverse proof-of-stake protocol.
2) The value of CCPB is a recurrent transfer of crypto-currencies.
3) A buyer obtains an CCPB by paying a crypto-currency in regular installments in the exchange. The percent inflow of cypro-currency contributed determines the percent of newly outsanding CCPB earned.
4) The CCPB that is obtained from the exchange after these installments have completed can produce income to whomever obtains it.
5) Whomever obtains the CCPB can put the currency back into the exchange to earn a steady flow of crypto-currencies, proportional to the cypro-currencies going into the exchange and the percent stake of CCPB in the exchange.
6) Once is the CCPB is withdrawn, the exchange can reissue it, making it a CCPB outstanding.
7) Since CCPB represents income and not savings, it secures purchasing power. Every transaction would increase or decrease income, as opposed to increase or decrease savings.
8) Basically, to obtain an CCPB, one pays dividends to an exchange in the form of crypto-currencies, and by depositing an CCPB in a exchange, one can accrue dividends in the form of cyrpto-currencies. The fewer CCPB you have, the more likely you are to win CCPB.
The exchange itself does not keep much coins in its system. It simply takes in coins from people wanting CCPB and give coins who have deposited CCPB. So only the freshest currencies will pass through the system. Stale Cyrpto-Coin markets are swiftly purged by design.
CCPB would operate at a higher level then all other Cyrpto-Coins, as it would be the first Cyrpto-Coin whose value is Cyrpto-Coins per Block. Also, by having CCPB, you can practically own samples of all Cyrpto-Coins+BitCoin flowing through the exchange simultaneously. The largest market cap Cyrpto-Coins+BitCoins will take the majority of the value of Cyrpto-Coin flux that determines the value of a CCPB. Unlike a basket of Cyrpto-Coins, the portion of different Cyrpto-Coins in CCPB is very flexible and can totally be changed in a matter of a few blocks, in the case that a major Cyrpto-Coin is attacked. Therefore CCPB has the advantage of being valued by the best Cyrpto-Coin regardless of whatever Cyrpto-Coin is taken down.
Here are some other reasons why this is superior than other approaches: Once you have obtained a CCPB, that does not mean that you have deposit it back into the exchange. For example, if the rate at which cyrpto-currencies going in decreases, people would react by not depositing their CCPB in the exchange. Now, some people would do this anyway, and the fewer people depositing their CCPB in the exchange means that those who do will have less competition vying for the same influx, so those who deposit their CCPB get more or less what they wanted. When the market for cyrpto-currencies goes back up, people will then put cyprto-currencies back into CCPB, encouraging more people to deposit their CCPBs. This reduces the volatility of the value of the CCPB even when the cypro-currencies going in can be highly volatile in value. |
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Call it:
Cyrpto-
Coins
Per
Block
Value of CCPB
1) CCPBs are mined using an inverse proof-of-stake protocol.
2) The value of CCPB is a recurrent transfer of crypto-currencies.
3) A buyer obtains an CCPB by paying a crypto-currency in regular installments in the exchange. The percent inflow of cypro-currency contributed determines the percent of newly outsanding CCPB earned.
4) The CCPB that is obtained from the exchange after these installments have completed can produce income to whomever obtains it.
5) Whomever obtains the CCPB can put the currency back into the exchange to earn a steady flow of crypto-currencies, proportional to the cypro-currencies going into the exchange and the percent stake of CCPB in the exchange.
6) Once is the CCPB is withdrawn, the exchange can reissue it, making it a CCPB outstanding.
7) Since CCPB represents income and not savings, it secures purchasing power. Every transaction would increase or decrease income, as opposed to increase or decrease savings.
8) Basically, to obtain an CCPB, one pays dividends to an exchange in the form of crypto-currencies, and by depositing an CCPB in a exchange, one can accrue dividends in the form of cyrpto-currencies. The fewer CCPB you have, the more likely you are to win CCPB.
The exchange itself does not keep much coins in its system. It simply takes in coins from people wanting CCPB and give coins who have deposited CCPB. So only the freshest currencies will pass through the system. Stale Cyrpto-Coin markets are swiftly purged by design.
CCPB would operate at a higher level then all other Cyrpto-Coins, as it would be the first Cyrpto-Coin whose value is Cyrpto-Coins per Block. Also, by having CCPB, you can practically own samples of all Cyrpto-Coins+BitCoin flowing through the exchange simultaneously. The largest market cap Cyrpto-Coins+BitCoins will take the majority of the value of Cyrpto-Coin flux that determines the value of a CCPB. Unlike a basket of Cyrpto-Coins, the portion of different Cyrpto-Coins in CCPB is very flexible and can totally be changed in a matter of a few blocks, in the case that a major Cyrpto-Coin is attacked. Therefore CCPB has the advantage of being valued by the best Cyrpto-Coin regardless of whatever Cyrpto-Coin is taken down.
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Ok so every1 is complaining about new coins, put your hasher where your mouth is, simply set up a pool, have miners point to it, and by some sort of vote, decide which of the crapcoins to 51% attack, it would kill them before they start and crapcoin makers wouldnt release them if they know they wll be 51% attacked
An alt-coin whose value is really alt-coins / block wouldn't have this problem. Call it: Alt- Coin Per Block Value of ACPBs 1) ACPBs are mined using an inverse proof-of-stake protocol. 2) The value of ACPB is a recurrent transfer of crypto-currencies. 3) A buyer obtains an ACPB by paying a crypto-currency in regular installments in the exchange. 4) The ACPB that is obtained from the exchange after these installments have completed can produce income to whomever obtains it. 5) Whomever obtains the ACPB can put the currency back into the exchange to earn a steady flow of crypto-currencies, proportional to the cypro-currencies going into the exchange and the percent stake of ACPB in the exchange. 6) Once is the ACPB is withdrawn, the exchange can reissue it. 7) Since ACPB represents income and not savings, it secures purchasing power. Every transaction would increase or decrease income, as opposed to increase or decrease savings. 8) Basically, to obtain an ACPB, one pays dividends to an exchange in the form of crypto-currencies, and by depositing an ACPB in a exchange, one can accrue dividends in the form of cyrpto-currencies. The fewer ACPB you have, the more likely you are to win ACPBs. ACPB would operate at a higher level then all other Alt-Coins, as it would be the first Alt-Coin whose value is Alt-Coins per Block. Also, by having ACPB, you can practically own samples of all alt-coins+BitCoin flowing through the exchange simultaneously. The largest market cap Alt-Coins+BitCoins will take the majority of the value of Alt-Coin flux that determines the value of an ACPB. Unlike a basket of Alt-Coins, the portion of different Alt-Coins in ACPB is very flexible and can totally be changed in a matter of a few blocks, in the case that a major Alt-Coin is attacked. Therefore ACPB has the advantage of being valued by the best Alt-Currencies regardless of whatever Alt-Coin is taken down. |
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Alt-
Coins
Per
Second
Major Features of ACPS
- Each ACPS represents income, not savings.
- Therefore, each ACPS represents a continously increasing store of value.
- ACPS are sent out to sellers by buyers, for an agreed upon period.
- ACPS are sent out to buyers by exchanges, for an agreed upon period.
- Flow of ACPS: Miners -> Exchanges -> Buyers -> Sellers -> Exchanges
- The buyer, not the seller, generates the private key.
- All theft of ACPS can be reversed using the private key in possession of a falsified buyer (victim of theft).
Value of ACPS
- The value of an ACPS can only be obtained when deposited into an exchange, to accrue income.
- The only good reason why a person would have an ACPS is to use it.
- Having ACPS outside of an exchange is no use.
- For every person who does not deposit their earned ACPS into an exchange, any ACPS which is deposited into the exchange may have more value.
- This may cause the ACPS have higher value when it is earned rather than when it is paid for.
- This encourages people to earn ACPS as well as to encourage them to participate in the exchange markets, driving up efficiency.
Other characteristics of ACPS
- ACPS is not a demurrage currency.
- The value of ACPS exists in its ability to deposit ACPS in return for a continual stream of income derived by the exchange, which is paid into by those obtaining ACPS.
- ACPS allows for consolidation of regular payments with a single transaction.
- Each ACPS provides virtually continous cash flow (as frequent as the time between blocks in the blockchain).
What ACPS Requires:
Value generation
- Digital currency (Digital US Dollars, Euros, Chinese RMB, Alt-Coin, etc.) will be delivered at a rate in exchange for ACPS.
- The value of ACPS is backed by a rate of currency transfer.
- If the flow of currency through the exchange stops completely, then ACPS will lose ability to generate income.
- If the flow of currency through the exchange resumes, then ACPS will regain ability to generate income.
Transactions
- Each transaction is a continuous series of payments.
- Each transaction has a set starting time and expiration date.
Obtaining ACPS
- Each person may arrange a flow of regular currency transfers into the ACPS economy, in return for ACPS. The average sets the price for ACPS.
- Each person may recieve ACPS in exchange for services being rendered.
Buyer who uses ACPS
- Must first obtain ACPS at an exchange or earn it somewhere else.
- Will retrieve the ACPS back once the expiration date for the transaction has come.
- Time of expiration is enforced by the blockchain
Seller who uses ACPS
- May deposit the ACPS at an exchange to accrue a balance of currency.
- May use the ACPS in exchange for goods and services from a company that accepts ACPS directly.
- Will have the ACPS returned to the buyer as soon as the expiry period finishes.
- The return of the ACPS is enforced by the blockchain.
Once the expiration date commences
- The ACPS remains in the blockchain.
- The ACPS is returned to the buyer.
Setting up the payment
- A seller asks for an amount (e.g. 10 ACPS for 10 days).
- A buyer may agree or disagree with this.
- It is discovered through the blockchain whether or not the buyer has 10 ACPS available for 10 days.
- If an amount of 10 ACPS will not remain after 10 days, per blockchain data, then the request is rejected, and alternate requests may calculated (e.g. 5 ACPS for 20 days, 20 ACPS for 5 days, etc.)
- The seller may accept or reject these alternate requests.
Transaction accepted
- Once the transaction is accepted....
- A public address is created for that transaction.
- A private key is generated for this public address.
- The private key can be used to authorize that the flow of funds to be stopped prematurely (i.e. return ACPS to buyer before agreed expiry date).
- The buyer is in possession of this private key.
- The private key can be only used once.
- This private key does not unlock any funds. It merely serves as a way to stop the flow of payments.
- Once the expiration date arrives, the ACPS is automatically returned to the buyer.
Cancelling services or returning goods
- Losing the private key only serves as a way to lose a way to prematurely end the transfer.
- If the funds transfer must be stopped, a reverse transaction may be created.
- The reverse transaction does not stop any existing transactions.
- The expiration date and amount of ACPS should match that of the corresponding transaction.
- If not, then it should match the product of ACPS * time until expiry, less any fee the seller would wish to charge.
- The seller must still have enough ACPS for the available period to reverse the transaction.
- The seller must approve the reverse transaction.
- The reverse transaction has a public address and private key.
- The seller is in possession of this private key.
- The seller may use the private key to stop the reverse transaction.
- If the private key of the forward transaction is not lost by the buyer after all, use of the buyer's private key by anyone settles the above tasks automatically, if not already done.
- Use of the private key effectively generates a reverse transaction, which commences when the seller has enough ACPS, enforced by the blockchain.
Converting to other currency
- ACPS may be deposited at an exchange that offers a competitive rate for ACPS.
- The larger exchanges will have the more competitive rates for ACPS.
- The larger exchanges will have more funds being paid through to support the ACPS.
- Exchange collaboration and mergers are inevitable to reduce risk.
ACPS mining
- ACPS are mined in the same way BitCoins are mined.
- Each ACPS represents income, rather than savings.
- The reward for the miner is not a lump sum amount, but rather, a share at an exchange.
From mining to exchange creation
- ACPS miners can use mined ACPS to own shares at exchanges, or to develop their own exchanges.
- Exchanges give out ACPS in exchange for currency flow.
- Each ACPS is set to return to the exchange based on an expiry date.
- The return of each ACPS to the exchange is enforced by the blockchain.
- The more established the exchange is, the more distant of expiry dates can be handled.
- The maximum term that any ACPS can be held by a buyer or seller is defined by the expiry date.
- ACPS is handled through a chain of buyers and sellers, with subsequent trades having expiry dates on or before the prior of each.
- Each ACPS can be reissued by the exchange after each expiry.
Once ACPS is returned to the exchange
- After the ACPS has expired, any money accrued in the exchange, post-expiry, as a result of someone continuing to pay to exchange in order to obtain this ACPS should be considered property of the individual responsible for the payment. Any amount paid prior to this expiry will be handled based on the policy of the exchange. If not returned to the buyer of the ACPS, it may be used to increase the income earned by depositors of ACPS at the exchange.
Theft of ACPS
- It is impossible to steal ACPS using a private key, as the private key only returns the ACPS to the buyer. The private key does not provide a way to spend funds. It provides a way to stop spending funds - the complete opposite of most, if not all, other crypto-currencies.
- Any theft of ACPS is of limited value, as each ACPS is registered to an exchange and is therefore registered to an agency which receives cash flow to back the value of ACPS.
- The amount of value that can be stolen is limited to the rate at which the ACPS can accrue income, and to accrue income, the stolen ACPS must be deposited on the exchange, and therefore be exposed to any scrutiny.
- Since ACPS represents income, not savings, the direct victim of a falsified transaction can retrieve all the ACPS by using the private key to force an early expiry of the falsified transaction, rendering the ACPS in the thief's account expired via blockchain enforcement. Then the thief can no longer accrue income from that ACPS.
- If the thief used some ACPS for goods and services, the expiry date enforces that the ACPS be returned to the vicitim.
- To reduce loss due to theft, the blockchain can be used to enforce more expedient expiration periods. These enforcements can be cancelled by use of a private key.
Buyer and seller relationship after premature return of ACPS
- If the buyer prematurely cancels the transfer, and therefore, retrieves all ACPS prematurely, service and/or acceptance of the account may or may not be denied by the seller.
- Alternatively, the seller can convince the buyer to reissue the transfer, or otherwise refuse service if it desires.
Adaptation to this possibility
- In situations where: 1) the transaction amount is small and the probability that the buyer will prematurely cancel the transfer is low, or 2) when a service, not a good, is being sold, or 3) a balance must be prepaid before delivery of an item or service; a distant expiry date may be acceptable to the seller.
- In situations where: 1) the transaction amount is large and the probability that the buyer will prematurely cancel the transfer is high, or 2) when a good, not a service, is being sold, or 3) the remaining balance is likely collectible by sending a bill to the buyer; an expedient expiry date may be acceptable to the seller.
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