[LTC-GLOBAL] The Litecoin Global Virtual Stock Exchange - Public Beta

[burnside]

Litecoin Global Beta currently supports:

       * Trade Virtual STOCKS, BONDS, & FUTURES.
       * Receive email confirmations of your trades!
       * LIMITED TIME ONLY - create your own security for just 250 LTC..
       * Per-transaction fee of 0.2%.
       * Simple, easy to learn interface.
       * JSON API for security values and history.
       * Only LTC exchange you can own revenue shares in.
       * Google Authenticator 2-factor authentication support.
       * Withdrawal fee of 0.1 LTC per transaction.  (to cover fees the litecoin client automatically adds.)
       * Free transfer of LTC between accounts.
       * Free transfer of Assets between accounts.
       * Dividend scheduler.  Plan your future dividends where your shareholders can publicly see them.

Visit us at https://www.litecoinglobal.com!

Lots of development still in the works.  You can see the todo list on the main page.

Official forum/support thread here: http://forum.litecoin.net/index.php/topic,551.0.html

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[Bitcoin Oz]

Looks good.

[burnside]

Looks good.

Thanks!

- SSL Cert is now installed.
- Asset History now visible from the Portfolio page.

Cheers.

[EskimoBob]

Litecoin Global Beta currently supports:

       * Trade STOCKS, BONDS, & FUTURES.
       * LIMITED TIME ONLY - create your own security for just 250 LTC..
       * Per-transaction fee of 0.2%.
       * Simple, easy to learn interface.
       * Only LTC exchange you can own shares in.
       * Withdrawl fee of 0.1 LTC per transaction.  (to cover fees the litecoin client automatically adds.)

Visit us at https://www.litecoinglobal.com!

Lots of development still in the works.  You can see the todo list on the main page.

Official forum/support thread here: http://forum.litecoin.net/index.php/topic,551.0.html

Looks good but why do I get "Wrong username format" error?
Username was letter only

[burnside]

Looks good but why do I get "Wrong username format" error?
Username was letter only

Updated the error to read: "Wrong username format. Username should be letters and numbers, 4-20 characters in length."

Was your username less than 4 characters?  Or more than 20?  Maybe I have a bug in my regular expression.  If it wasn't a length issue, can you PM me your attempted username and I'll see what I can do?

Cheers.

[EskimoBob]

Looks good but why do I get "Wrong username format" error?
Username was letter only

Updated the error to read: "Wrong username format. Username should be letters and numbers, 4-20 characters in length."

Was your username less than 4 characters?  Or more than 20?  Maybe I have a bug in my regular expression.  If it wasn't a length issue, can you PM me your attempted username and I'll see what I can do?

Cheers.

Can you pleas add the requirements for username and password to sign up page so they are visible BEFORE someone starts to sign up?

[burnside]

Can you pleas add the requirements for username and password to sign up page so they are visible BEFORE someone starts to sign up?

You got it. 

Cheers.

[EskimoBob]

Ill just post stuff here I find a bit odd.
If you do not mind, hopefully you can fix those too

1) No verification e-mail after signup?
2) please replace the default fav ico
3) I think your Buy box has to be above Ask column and Sell above Bid column.

[burnside]

Ill just post stuff here I find a bit odd.
If you do not mind, hopefully you can fix those too

1) No verification e-mail after signup?
2) please replace the default fav ico
3) I think your Buy box has to be above Ask column and Sell above Bid column.

Awesome, appreciate the input.

1) The DB schema is setup to support it, both that and captcha will be implemented on registration.  I'm not super worried about it because there's little damage a bad email or a spammer account can do at this point.
2) Haha, definitely.
3) I looked around a bit on this one.  GLBSE has it like I do.  BTC-e has it reverse.  Vircurex has it like I do.  I think I've seen people talk in the chat box about the BTC-e one being backwards and they don't want to change it now because it'll confuse people.
4) Didn't realize it, but the SSL cert wasn't working in all browsers.  Fixed it.  (needed an intermediate cert installed)

Cheers.

[EskimoBob]

3)  BTC-e has the Bid and Ask columns reversed. In some eastern block countries this is considered correct btw.
Trade execution boxes are above correct column.

Most common order is "market order". This will get you the number of shares you want and this is executed form the Ask side of the order book.
Same applies to mos common sell orders (market order to sell) - you sell to the Bid side of the market.



Now, if you look at the order book and order execution boxes, you realise that you have to cross over to opposite side to see what's available in the order books for you trade.

Yes, people have gotten used to this absurdity but there is no need to copy bad usability.


5) This is a feature request -  add maximum number of shares calculation if user enters the LTC amount to order box  "Total"
Do not forget to add the commission calculation when figuring out the max full number of shares one can get for the coin entered.   

[Bitcoin Oz]

Any plans to add google auth ?

[Winterfrost]

I'm fairly certain that "withdrawl" should be "withdrawal".

[burnside]

Yes, people have gotten used to this absurdity but there is no need to copy bad usability.

5) This is a feature request -  add maximum number of shares calculation if user enters the LTC amount to order box  "Total"
Do not forget to add the commission calculation when figuring out the max full number of shares one can get for the coin entered.   

I'll mull that over a bit.  The btc-e one confuses me more than the GLBSE, Vircurex, etc layout.  But you're right, there's the way it should be, and then there's the way it's always been.

5) I spent a bunch of time adding javascript calculations to the order entry on the security page.  Prices and Quantities are now click-able and there is a fill option and a calculate option.   That should help out a bit.  I really like your idea for plugging in an amount to spend and having it calculate the quantity.  Will see what I can do.

Any plans to add google auth ?

Absolutely.  (note that the todo list is on the main litecoinglobal.com page.)

I'm fairly certain that "withdrawl" should be "withdrawal".

Awesome.  I had it misspelled -everywhere-.  Thank you!

[sp0rus]

Not sure how this would work or anything, but would it be feasible to have some sort of way to integrate your pool into this and maybe buy shares directly with balance from pool, thus not having to pay a fee to withdraw?

It isn't a big difference, so it wouldn't really matter all that much in the grand scheme of things, but just thought I'd mention it.

[burnside]

Not sure how this would work or anything, but would it be feasible to have some sort of way to integrate your pool into this and maybe buy shares directly with balance from pool, thus not having to pay a fee to withdraw?

It isn't a big difference, so it wouldn't really matter all that much in the grand scheme of things, but just thought I'd mention it.

The pool and the exchange would have to be on the same wallet.  Then I could do a "move" command instead of using the network to send the balances.  Problem is... I don't think it would be a very good idea to have the pool (code I didn't write, only modified) sharing a wallet with a very sensitive application that I did write.  (90% of anyway.  )

The other issue is not so much technical, but ethical.  Should my two operations be able to benefit from each other?  I could say yes, I have that right, and I do, but it would almost certainly hurt the exchange if people see my assets getting special treatment.  I could say no, and then there is very little harm to my assets, but a huge reputation gain for the exchange.

My preference would be to figure out how to patch litecoind to not ever attach transaction fees.  Then I could just take the fee out on the pool. 

[burnside]

Our first LTC-GLOBAL dividend paid using the new LTC-GLOBAL dividend scheduling system!

Dividend paid: 11.55 LTC income, 10k shares.

It was paid in 4 actual dividends, three 1 LTC dividends that were tests, then a final 8.55 LTC dividend to make up the difference.

Exciting to see the system working.  Lots of work yet to go, but this was a big hurdle.

Cheers.

[sp0rus]

How many confirmations is the exchange going to want before accepting a deposit?

EDIT: Nevermind, decided to do a test deposit and saw the status on the site "2/10 Conf"  Thanks for giving that info, I like knowing for sure that the system sees my LTC coming in and being able to estimate how long it will be before I can use it.

[Bitcoin Oz]

I have been wondering why theres no mining pools listed on any stock exchanges. Maybe the revenue isnt there ?

[tgsrge]

is there any specific reason you chose 10 confirmations whereas the mainline litecoin client only waits for 6 before considering the transaction "confirmed"?

[killerstorm]

burnside, can you please explain IPO mechanics?

Create asset page says that I should create separate account per asset. (Am I allowed to reuse email address here, by the way?
OK, I understand, but it would be better if users and accounts would be separate things, i.e. one user can have multiple independent accounts.)

So let's say I will create a separate account and will issue 1000 shares. I guess this account will own those 1000 shares and will be able to sell them. Let's say it sells 250 shares so 750 shares are treasury stock.

But there is a problem: where are my shares, i.e. shares of a person who have created a company? I would like to have some, and it would be rather weird for me to buy them on an open market.

So, as I understand, with your ownership semantics treasury stock IS a stock of company's owner. You compute dividends per share by taking into account all shares issue, but a company does not pay dividend on shares it owns, so that money stays with the company and owner is free to spend it.

If my observations are true, this is very confusing.

I would recommend to implement it like this: company should be able to transfer shares into other account without selling them on market.

For example, let's say there are three founders and they decided that they should have equal share in company, also they decide to sell 25% of a company to get some money for operations.

To do this, they create a company with 1000 shares, then company transfers 250 shares to founders A, B, C (750 shares total) and tries to sell leftover 250 shares on the market. Let's say it was able to sell only 150 shares.

So, 900 out of 1000 shares are distributed, 100 is treasury stock. When company decides to pay dividends, it should not take treasury stock into account. I.e. if there is 900 LTC of dividends it should go to all shareholders, i.e. 1 LTC per share. Treasury stock exists simply to give company an ability to raise more money (or do a buyback), it should not earn any dividends.

A simple reality check: after a buyback dividends per share should rise, and it is only possible if treasury stock does not earn dividends.

If you change it this way it would be closer to how corporate ownership works in reality, and also it isn't significantly incompatible with your existing mechanics, it is just more flexible (i.e. allows company to have more than one founder/owner).

So please don't take it as a criticism but as a honest improvement recommendation. After all, I'm a Litecoin Global proud shareholder, so I'm interested in company's prosperity