stock coins? p2p virtual stock & debt equity / cryptostocks

[prophetx]

I need to write down all the reading I have been doing the last week, but it would see for now that the most viable options are coming down to:

Colored coin
Mastercoin
Ripple

I still have to investigate ripple, trying to get in touch with the guy who made DYM

I should have an update by end of next week, after I finish the 20 pg paper I need to finish by Wednesday.

[h0lybyte]

Couldnt a company make their own coin, premine it all and then sell the coins, as a representation for the company?
Ideally that would be the best solution? wouldnt it?

[prophetx]

Couldnt a company make their own coin, premine it all and then sell the coins, as a representation for the company?
Ideally that would be the best solution? wouldnt it?

yes that is exactly right but we need the code base for that, it doesn't really exist today in a way that is secure  (if you just cloned bitcoin someone could attack it with enough hashing power which is cheap to buy, thus it needs to be layered on top of bitcoin or a separate security algo then what the asics are made for, sha256).  also  there are some features missing which in some countries may be needed (i.e., identifying majority owners, etc)

[osoverflow]

Hi! I think the right way is colored coins.

I myself studied master coin and colored coin, and I found colored coin the most solid and transparent way to go for stock market. I found that master coin is the best to demonstrate property of physical goods, but not for things that have so many elements, like shares.

For example, with master coins you can demonstrate the property of your cell phone, because you can have 1, maybe 2 or 3. But for stocks you want to demonstrate property of maybe 2000 or more shares, and there master coin fails.

On the other side, colored coins is very good to demonstrate property of big number of equal items, just like shares. And also gives some interesting possibilities, like an easy way to identify your investors and pay dividends without asking their addresses.

I'm developing an stock exchange called coinmarket.pw (also coinmarket.mx and coinmarket.bit)

There I'm using colored coins, joining with bitmessage for p2p order book and trade contact and namecoin for colored coin's metadata definition.

If you want to follow the development or buy shares of my exchange, you can contact me here, and follow this link https://forum.litecoin.net/index.php/topic,6324.new.html#new.

[prophetx]

so just a quick update, i have been pretty busy with work at my grad program, have a ton to read and write.

however, i have also started to help the folks at Mastercoin with their newsletters.

i think there technology is close to prime time.  there are also folks actively seeking a proven system for stock ownership.

what I would suggest is using Mastercoin to run a proof of concept, at least for 1 trial run

i hope to finish up the voice of customer later next week and run the study for a couple weeks.

[prophetx]

as I may have mentioned before I am writing the weekly blog for mastercoin, one of the possible technological approaches to this.  check it out if you have the time, and if you are a developer with some spare time the Mastercoin Foundation has a 300 BTC code contest 

Making History With Distributed Exchange

News for the week 43.2013.

Last week we discussed the fantastic results of the 1st code contest. Through out this week a few key exciting events took place.

J.R. Willet, the person behind the Mastercoin protocol, announced the 2nd code contest which is to enable distributed exchange transactions between two currencies (BTC <-> MSC); this ambitious contest is giving away 300 BTC and will need support not just from those who will be developing the wallet and website applications but also from those who are willing to test the developed applications, so take a look and get involved. Your contributions will be rewarded.

We also saw an important decision take place with the Bitcoin code base.  According to Gavin Andresen Bitcoin a pull request which allows for the association of up to 80 bytes of arbitrary data transactions will make it into Bitcoin’s 0.9 major release; this will enable Class C Mastercoin transactions (more information below).

Lastly, earlier this week the Mastercoin Foundation Board had its first meeting. Scroll down to see the minutes.

Read more...

http://blog.mastercoin.org/2013/10/26/making-history-with-distributed-exchange/