ChromaWallet (colored coins): issue and trade private currencies/stocks/bonds/..

[killerstorm]

http://killerstorm.xen.prgmr.com/alex/ArmoryX-0.3.0.zip

Includes p2ptrade and support for testnet.

ArmoryX-testnet.cmd runs testnet version. (testnet requires dramatically less resources.)

In p2ptrade dialog: I believe everything is more-or-less obvious except behavior of bid/ask lists.
Double click offer to click it.
Your own offer is shown in green color. Double-clicking it will cancel it.

Note that p2ptrade has a number of known deficiencies.  

The biggest one, I guess, is that somebody can fill your offer more than once.

Basically, it is a demo version. do not use for anything serious.

If somebody wants to test p2ptrade on testnet, I sell TestTest1 26546d600e1a6a278eba2170559afe415ddcdd88 for 1 satoshi each. (I.e. 0.00000001 BTC.)

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[killerstorm]

Wow, that could be the financial services software product of the century, would be happy to do some testing of the Windows version.

I've put a bid for 1 Congo share at 0.01 BTC. Let's see if you can fill it.

(You can do that either entering exactly matching fill order (partial fill isn't supported yet), or double-clicking my bid.)

[bitcool]

Basically, it is a demo version. do not use for anything serious.

If it is, it's a really good demo version

[bitcool]

Basically, it is a demo version. do not use for anything serious.

If it is, it's a really good demo version

oops, I think I spoke too early.

The initial experience was pretty good, but after 10 minutes, Windows is reporting "ArmoryQt.exe has stopped working A problem caused the program to stop working correctly ...."

Looking forward to the improved version.

[sron]

Wow, that could be the financial services software product of the century, would be happy to do some testing of the Windows version.

I've put a bid for 1 Congo share at 0.01 BTC. Let's see if you can fill it.

(You can do that either entering exactly matching fill order (partial fill isn't supported yet), or double-clicking my bid.)

Done - it's a small click for Sron but a great step for mankind - you're a genius Killer, now how and when do you want to let the rest of mankind hear of this evolutionary step forward?

[killerstorm]

Yep, I successfully bought 1 Congo share on 2013-01-20 06:09 GMT.

Here's transaction: http://blockchain.info/tx-index/45176321/c47f172f9f8016e1cfcee674b2c37d716ab7e5f9e63155dd544469f123ad9723

However, it turns out it isn't the first p2ptrade transaction on the main net, somebody bought 1 TESTcc for 1 satoshi on 2013-01-20 00:42 GMT:

http://blockchain.info/tx-index/45141101/d831b5c0543733596cf96565f0f9186187ccae73f868e2083e752c90ecdeaee3

Although perhaps purchase of Congo Shares is a more decisive demonstration that this shit actually works since we had to go through whole process with publishing colorid and download of color definition.

Cheers!

[HostFat]

I can't wait! It's more than a dream, and it will be a nightmare for someone else

[n8rwJeTt8TrrLKPa55eU]

Zero-trust decentralized asset tracking and trading is an awesome idea, definitely in the spirit of Bitcoin itself. 

Thank you Killestorm, Jeff Garzik, Meni, and anyone else contributing.

[sron]

Killerstorm, I created a virtual asset with the specific purpose of sending 90% of the profits to you in order to facilitate continued development efforts and perhaps expand the colored coins project, let me know if this was ok, otherwise I will remove it from the list, also could you link to your public PGP key if you have one.

[kangasbros]

I think a separate blockchain would serve the distributed stock exchange idea better. Wrote a thread about it to alternate cryptocurrencies:

https://bitcointalk.org/index.php?topic=140973.0

[killerstorm]

I think a separate blockchain would serve the distributed stock exchange idea better. Wrote a thread about it to alternate cryptocurrencies:

This was proposed many times, I even provided links to some of such proposal in the first post of this thread: https://bitcointalk.org/index.php?topic=54033.0 , https://bitcointalk.org/index.php?topic=52494.0 , https://bitcointalk.org/index.php?topic=66868.0

However, I find the colored bitcoins concept not very smart way to do it, mostly because bitcoin isn't meant for this kind of trade.

If you'll think more about this, you'll see that colored bitcoins is actually a smart way to do this:

• it's possible to implement all desired features
• it is automatically as secure as bitcoin, there is no need for any mining just for colored coins
• most importantly: you can buy and sell things for Bitcoins

That said, a separate blockchain could be nice. But the problem is that it is hard to even make a list of features it should have.

If you'll lurk more you'll find ripplecoin proposal

[paulie_w]

do i understand this concept at all:

1.. a bitcoin is set aside
2.. it is used as the basis for a number of micro-transactions
3.. said micro-transactions don't get recorded to the blockchain?

?

[ThePok]

No, all Transactions are in the blockchain, same as normal Bitcointransaction, but this colored bitcoins got an sticker Saying: 1/100000 of a company...so they may be more valuable than ordianry bitcoins

[Zeilap]

No, all Transactions are in the blockchain, same as normal Bitcointransaction, but this colored bitcoins got an sticker Saying: 1/100000 of a company...so they may be more valuable than ordianry bitcoins

To be even more clear, the sticker property isn't actually built into bitcoin or the blockchain. The list of which bitcoins have the sticker and what the sticker means is created and maintained *outside* of bitcoin and by anyone, so it's entirely possible if you want to set up a secret currency between your trusted friends, then no-one outside of the group will even know that the currency exists, let alone who owns how much of it, or what it can be exchanged for. All that is maintained (that we care about) by the blockchain is who owns which coins.

*it is actually a transaction input that gets the sticker, not a 'coin'. These can be traced through the blockchain, and this is what enables us to know where the sticker is at any point. So for stickers representing shares in a company, the company would be able to find out which bitcoin address to pay the dividends to.

[phelix]

I think a separate blockchain would serve the distributed stock exchange idea better. Wrote a thread about it to alternate cryptocurrencies:

This was proposed many times, I even provided links to some of such proposal in the first post of this thread: https://bitcointalk.org/index.php?topic=54033.0 , https://bitcointalk.org/index.php?topic=52494.0 , https://bitcointalk.org/index.php?topic=66868.0

However, I find the colored bitcoins concept not very smart way to do it, mostly because bitcoin isn't meant for this kind of trade.

If you'll think more about this, you'll see that colored bitcoins is actually a smart way to do this:

• it's possible to implement all desired features
• it is automatically as secure as bitcoin, there is no need for any mining just for colored coins
• most importantly: you can buy and sell things for Bitcoins

I think colored coins is a very elegant thing.

That said, a separate blockchain could be nice. But the problem is that it is hard to even make a list of features it should have.

If you'll lurk more you'll find ripplecoin proposal

did you ever consider namecoin based colored coins? namecoin has it's issues but it might make an interesting combination. a connection to the real world.

[yoniassia]

There is a 200 BTC bounty to build a light client that can read and send colored coins, is anyone looking into it ?

[phelix]

are there screenshots that show what it can do currently?

[killerstorm]

This is p2ptrade GUI: https://i.imgur.com/qPaXcpS.png

The rest is fairly boring: combo which selects current color (after you select one you can see balance and send them as usual), and a menu to issue new coins/view existing definitions/download new ones.

[killerstorm]

Note that ArmoryX development is sort of discontinued, we are currently focusing on thin clients.

There might be maintenance release if there is demand for it.

[nyusternie]

@killerstorm i've been working on bitcoinjs for a while now with the specific intention of making it compatible with colored coins. i'm actually heading up to ny this weekend to start testing with some buddies of mine to see how this will be applied in a real-world environment.

the thing is that i'd really like to see a colored coin spec (not sample code) that "completely and clearly" explains how it all works.  does this exists (i haven't seen anything on bitcoinx)? i'm working on completing my own spec at the moment and will be happy to share it with you when its done. however, it is specific to my purposes (which will be used mainly in a "controlled" environment) and i'd really like to make it 100% compatible with what may become the "official" colored coin standard.

fyi - my project (a bitcoinjs fork) is called bitcoindb and will be open-sourced on github when its done.