Can I buy stock with colored coins?

[Alley]

Is this currently implemented anywhere?  So I can buy stock attached to a colored coin instead of spending $10 a trade with ameritrade?

[lucasjkr]

No.

Some think that overstocked is working on it, but the proof would be in the pudding and so far there is no pudding.

[Alley]

Are there any applications of colored coins or is it just too early?

[lucasjkr]

I've read lots of talk and concepts, but haven't seen any actual implementations. Doesn't mean there aren't, just means I haven't seen them.

[Amph]

Are there any applications of colored coins or is it just too early?

i think there are some, like for example having an ipo on the blockchain by emitting shares as a colored coins, and then send those to  everyone that hold shares, or storing other items(big one like an house) on the blockchain by issuing a single coins, then its owner can be transferred with a bitcoin transaction

[TKeenan]

I've read lots of talk and concepts, but haven't seen any actual implementations. Doesn't mean there aren't, just means I haven't seen them.

Omni has done this.  They started with the US Dollar being the first asset locked to the protocol.  It is being used by Tether to achieve this.  They also have Euro and Yen.  More coming soon.  Probably stocks indexed this way are not very far off at all.

[box0214]

has anyone used color coins for a issuing gift cards for a store/company?

[tyz]

Nxt has implemented colored coins what is called the Nxt Monetary System

[BTSwolf]

has anyone used color coins for a issuing gift cards for a store/company?

BunkerShares (Giftcards)
https://youtu.be/iuW0jl1NIUA

NOTE for the Entertainment Blockchain (represent Company value like a stock)
http://whatarenotes.info/

MOONFUND as fundraiser for MIT License
moonstone.io

BitAssets (stable currencys and user issued colored coins)
Trading stocks on a blockchain seems to come in 2015.

It's all about bitshares.

[Bizmark13]

Check out this link if you're interested in decentralized asset exchange platforms:

http://o.info/How_to_issue_a_cryptosecurity

There are many such systems in development, although most aren't widely used. Some of the more popular ones include NXT, Counterparty, Mastercoin, and BitShares.

Nxt has implemented colored coins what is called the Nxt Monetary System

And before that, NXT also implemented colored coins representing assets via their Asset Exchange.

Both fit the definition of colored coins but are intended to be used for different purposes. The monetary system can be used to represent fiat-backed or commodity-backed tokens, reward points and loyalty points, etc. The asset exchange is typically used to represent shares in a company. OP's request probably fits the latter more so than the former even though their functionality overlaps to a significant extent.

[cbeast]

You can only buy such assets with altcoins. You can only buy altcoins with bitcoins. Try the altcoin section.

[Daedelus]

You can only buy such assets with altcoins. You can only buy altcoins with bitcoins.

Not true.

You can buy Nxt assets directly with BTC here: http://www.secureae.com/

[BTC_Superman]

No, you can not buy. You can only buy Nxt assets.

[Lorenzo]

You can only buy such assets with altcoins. You can only buy altcoins with bitcoins.

Not true.

You can buy Nxt assets directly with BTC here: http://www.secureae.com/

I'm guessing that assets there aren't bought with BTC directly though. Probably some sort of BTC to NXT conversion still happens behind the scenes.

No, you can not buy. You can only buy Nxt assets.

NXT isn't the only altcoin with an asset exchange, although they are currently the largest.

So far, the following altcoins have asset exchanges:

• Bitshares
• ClearingHouse
• Colored coins
• Counterparty
• Ethereum
• HyperLedger
• Mastercoin
• NEM
• NFD
• NXT
• Peershares
• Qora
• Veritasium's UltraCoin

And also HZ (Next Horizon), NuBits, and Ripple have support for assets too. There are probably more that I've missed as well.

[ACCTseller]

Nxt has implemented colored coins what is called the Nxt Monetary System

When you are using the NXT asset exchange, you are technically buying a debt obligation of the issuer whose value is backed by the underlying asset. If the issuer were to decide not to honor their obligations then there would be little that could be done. Granted some of the issuers do take some precautions to prevent one person from controlling large amounts of funds (multisig for example), but this is not 100% foolproof.
Generally speaking you can get a number of free trades with a brokerage if you have sufficient assets held at the bank and there are companies like sharebuilder that allow you to buy stock for only $4 in commissions

[Lorenzo]

Nxt has implemented colored coins what is called the Nxt Monetary System

When you are using the NXT asset exchange, you are technically buying a debt obligation of the issuer whose value is backed by the underlying asset. If the issuer were to decide not to honor their obligations then there would be little that could be done. Granted some of the issuers do take some precautions to prevent one person from controlling large amounts of funds (multisig for example), but this is not 100% foolproof.
Generally speaking you can get a number of free trades with a brokerage if you have sufficient assets held at the bank and there are companies like sharebuilder that allow you to buy stock for only $4 in commissions

This is true. There have been a few example of failed assets on the NXT AE (e.g. ach and ReserveShare) where the asset issuers either suddenly disappeared or failed to issue dividends and then disappeared sometime later.

There have been steps taken to mitigate the risk of scammy assets on the NXT AE, however. For example, NXTInspect is one such service which aims to audit assets on the AE by looking at their business plans. Unfortunately, it doesn't completely eliminate the risk of scam assets.

[louise123]

Is this currently implemented anywhere?  So I can buy stock attached to a colored coin instead of spending $10 a trade with ameritrade?

I am not sure about stock but I think NXT has something similar.
Head over to their thread and ask there: https://bitcointalk.org/index.php?topic=303898.0

[Lorenzo]

Is this currently implemented anywhere?  So I can buy stock attached to a colored coin instead of spending $10 a trade with ameritrade?

I am not sure about stock but I think NXT has something similar.
Head over to their thread and ask there: https://bitcointalk.org/index.php?topic=303898.0

Yeah, NXT does have something similar in their asset exchange. You can buy, sell, and trade assets - some of which represent shares in companies. Others such as jl777hodl and NXTventure kind of act in a similar way to managed funds in that they represent a collection of other assets which may or may not produce dividends. Still a few others are IOUs such as mgwBTC (which represents BTC) and coinoUSD (which represents USD). You can check out the NXT asset exchange by following the links below:

http://nxtblocks.info/#section/blockexplorer_assets
http://trade.secureae.com/
http://www.cryptoassetcharts.info/assets/info

More detailed information about the AE can be found in the NXT wiki:

http://wiki.nxtcrypto.org/wiki/Asset_Exchange

Be aware that anyone can list an asset and many are scams so it's advisable to check this forum too:

http://nxtforum.org/index.php?board=62.0

[Daedelus]

You can only buy such assets with altcoins.

Not true.

You can buy Nxt assets directly with BTC here: http://www.secureae.com/

I'm guessing that assets there aren't bought with BTC directly though. Probably some sort of BTC to NXT conversion still happens behind the scenes.

You guess is exactly right   but it is a technicality. If some has a BTC wallet and no other altcoins, they are able to go to secureae.com and buy assets directly with BTC.

The fact the service does the conversion has no relevance to the BTC only purchaser. As far as they are concerned, they paid BTC and got assets.

[Lorenzo]

You can only buy such assets with altcoins.

Not true.

You can buy Nxt assets directly with BTC here: http://www.secureae.com/

I'm guessing that assets there aren't bought with BTC directly though. Probably some sort of BTC to NXT conversion still happens behind the scenes.

You guess is exactly right   but it is a technicality. If some has a BTC wallet and no other altcoins, they are able to go to secureae.com and buy assets directly with BTC.

The fact the service does the conversion has no relevance to the BTC only purchaser. As far as they are concerned, they paid BTC and got assets.

I guess that's true. It sounds quite similar to how services like BitPay work in that they instantly convert BTC to USD behind the scenes so that those with bitcoins can shop at merchants that would otherwise only accept USD. Except in this case, the conversion puts buying pressure on NXT so ultimately, it would be beneficial for NXT's price.