[BTC-TC] Virtual Community Exchange [CLOSED]

[pascal257]

LTC-GAMING: Hard to argue that there are any outright contract violations.  I am confused as to where the miniscule divs are coming from though.  Contract says they should be coming from the site's revenue...

I guess that's part of his profit from share price manipulation.

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[Deprived]

LTC-GAMING: Hard to argue that there are any outright contract violations.  I am confused as to where the miniscule divs are coming from though.  Contract says they should be coming from the site's revenue...

I guess that's part of his profit from share price manipulation.

His dividends have always been from returning part of capital.

The most obvious contract violation was the transfer of most shares to himself for free.  Contract states they'd be sold at 1 LTC each but only a small portion were - the rest were just transferred to himself and others who were supposedly developing games.

The less obvious contract violation is that there's no evidence that he's actually doing what the funds were raised to do.

[eltopo]

If some BTC-TC mods are around: Please have a look at my ET.DIFF assets, only 2 more YES votes needed!

Thanks!

[burnside]

Unless anyone can think of a very good reason I shouldn't, I'm going to start (soon) including bitcoin withdrawal addresses in the regular asset issuer lists that are emailed out to asset issuers.

Big argument in favor:

- Easier for issuers to continue operations if the site goes dark.  (imagine the work involved in say, DMS.MINING if the site goes dark and Deprived has to email all those users.)

Argument against:

- Gives up some confidentiality.  Everyone holding ASICMINER direct shares is in this position already, so I don't think anyone will care much.


After the change I'll also put a reminder on the portfolio page to ask people to set their withdrawal address, such that the lists the issuers get are more complete.

Cheers.

[pascal257]

Unless anyone can think of a very good reason I shouldn't, I'm going to start (soon) including bitcoin withdrawal addresses in the regular asset issuer lists that are emailed out to asset issuers.

Big argument in favor:

- Easier for issuers to continue operations if the site goes dark.  (imagine the work involved in say, DMS.MINING if the site goes dark and Deprived has to email all those users.)

Argument against:

- Gives up some confidentiality.  Everyone holding ASICMINER direct shares is in this position already, so I don't think anyone will care much.


After the change I'll also put a reminder on the portfolio page to ask people to set their withdrawal address, such that the lists the issuers get are more complete.

Cheers.

Instead of using the withdrawal adress, you could ask the user to set a public bitcoin adress which is then shared with share issuers. (Kinda like BitFunder)
That way there can't even be raised confidentiality concerns.

[ThickAsThieves]

Unless anyone can think of a very good reason I shouldn't, I'm going to start (soon) including bitcoin withdrawal addresses in the regular asset issuer lists that are emailed out to asset issuers.

Big argument in favor:

- Easier for issuers to continue operations if the site goes dark.  (imagine the work involved in say, DMS.MINING if the site goes dark and Deprived has to email all those users.)

Argument against:

- Gives up some confidentiality.  Everyone holding ASICMINER direct shares is in this position already, so I don't think anyone will care much.


After the change I'll also put a reminder on the portfolio page to ask people to set their withdrawal address, such that the lists the issuers get are more complete.

Cheers.

I'm all for this. Thank you.

[dexX7]

Instead of using the withdrawal adress, you could ask the user to set a public bitcoin adress which is then shared with share issuers. (Kinda like BitFunder)

This. It has to be a different one.

I really like this step, because it enables the oppertunity to identify or authorize user outside of BTCT. For example: I set up a service connected to BTCT, but how do I know if a user who wants to use my service is actually the one on BTCT? I can't right now. But if I ask him to sign a specific message with his BTCT address and I know this address, the problem is solved immediately.

Edit: Thanks!

Edit 2: Do we get rid of usernames now? How are transfers handled? It would be absoluteley awesome, if you could change the internal transfer system in a way that allows transfers from address -> address. Both on LTCG and BTCT.

[Deprived]

Unless anyone can think of a very good reason I shouldn't, I'm going to start (soon) including bitcoin withdrawal addresses in the regular asset issuer lists that are emailed out to asset issuers.

Big argument in favor:

- Easier for issuers to continue operations if the site goes dark.  (imagine the work involved in say, DMS.MINING if the site goes dark and Deprived has to email all those users.)

Argument against:

- Gives up some confidentiality.  Everyone holding ASICMINER direct shares is in this position already, so I don't think anyone will care much.


After the change I'll also put a reminder on the portfolio page to ask people to set their withdrawal address, such that the lists the issuers get are more complete.

Cheers.

We need some way to set the address that's reported.  Very few of my withdrawals are to addresses I control (they're usually straight to my deposit address for other exchanges/services).  In fact NONE of the addresses to which my issuing accounts withdraw are an actual wallet controlled by me - so any address you report at present isn't going to help much.

Beyond that I have no issues with it - though I'd have to email all users anyway as can be certain some would have still given addresses they don't control.  If the reported address can be setup by users then they don't have to give away any useful information (I'd use a new one that had never been used before).

[EskimoBob]

.....

Please let me know if/when other issuers violate their contracts.  I'll post similar warnings so new buyers don't get sucked in.

Well there's LHPOOL - operated by emma (same as MOO.COW).  Stopped paying dividends ages ago then claimed the wallet had been stolen.

LTC-ARCADE - operated by greedi who vanished in January.  That one should be locked as there's not even been any pretence of action on it for over 6 months.

LTC-GAMING - should have a warning on it.  He still pays out occasional tiny dividends but appears to given up any pretence that he's actually doing anything.  There's just occasional pump/dumps on it.

LHPOOL: Posted a warning.  Will halt trading around the 20th if we don't hear from Emma

LTC-ARCADE: Locked.

LTC-GAMING: Hard to argue that there are any outright contract violations.  I am confused as to where the miniscule divs are coming from though.  Contract says they should be coming from the site's revenue...

Cheers.

Any chance exchanges starting to demand regular financial reporting from issuers? Seriously, this will help everyone. (I have asked this several times in last year or so)
I think that "They will choose another exchange" excuse has become irrelevant. Why? Because BTCT has the highest volume and best interface, with all the bells and whistles issuer or investor can ask for.

[vandinn]

Why is there no way to set a withdrawal fee for the Bitcoin client? The transactions with zero transaction fee take forever:((

[Progressive]

Thanks for the new public share address feature!

[burnside]

Thanks for the new public share address feature!

No problem!  And sorry about making it mandatory, but I think it's pretty important.

Cheers.

[burnside]

Any chance exchanges starting to demand regular financial reporting from issuers? Seriously, this will help everyone. (I have asked this several times in last year or so)
I think that "They will choose another exchange" excuse has become irrelevant. Why? Because BTCT has the highest volume and best interface, with all the bells and whistles issuer or investor can ask for.

I think it'd be awesome to do an SEC style requirement that assets upload financials to the site at regular intervals.  (quarterly?) 

It's quite a bit of work unfortunately to make sure that uploaded files don't become vectors for virus infections or other attacks.

[VolanicEruptor]

Any chance exchanges starting to demand regular financial reporting from issuers? Seriously, this will help everyone. (I have asked this several times in last year or so)
I think that "They will choose another exchange" excuse has become irrelevant. Why? Because BTCT has the highest volume and best interface, with all the bells and whistles issuer or investor can ask for.

I think it'd be awesome to do an SEC style requirement that assets upload financials to the site at regular intervals.  (quarterly?)  

It's quite a bit of work unfortunately to make sure that uploaded files don't become vectors for virus infections or other attacks.

You should implement this immediately.. it's not just a good idea, it's what you need to do..now..

[vandinn]

Why is there no way to set a withdrawal fee for the Bitcoin client? The transactions with zero transaction fee take forever:((

One more thing - I don't think this was possible previously, but now I can put more bids than how much BTC I have on my account as long as the bids are in for different securities.

[Rannasha]

Why is there no way to set a withdrawal fee for the Bitcoin client? The transactions with zero transaction fee take forever:((

One more thing - I don't think this was possible previously, but now I can put more bids than how much BTC I have on my account as long as the bids are in for different securities.

I think this was the case before as well. If bids are filled, then some others may be cancelled if you no longer have the funds to pay for them.

[bigdude]

Thanks for the new public share address feature!

No problem!  And sorry about making it mandatory, but I think it's pretty important.

Cheers.

I'm having a problem with this. I've set 2 different addresses, but it still says I have to set it up.

So I still can't trade.

What am I doing wrong?.

[xchrisxsays]

Any chance exchanges starting to demand regular financial reporting from issuers? Seriously, this will help everyone. (I have asked this several times in last year or so)
I think that "They will choose another exchange" excuse has become irrelevant. Why? Because BTCT has the highest volume and best interface, with all the bells and whistles issuer or investor can ask for.

I think it'd be awesome to do an SEC style requirement that assets upload financials to the site at regular intervals.  (quarterly?) 

It's quite a bit of work unfortunately to make sure that uploaded files don't become vectors for virus infections or other attacks.

Absolutely do this, it would bring some much needed transparency

[freedomno1]

Mandatory address updated 

[Carnth]

One more thing - I don't think this was possible previously, but now I can put more bids than how much BTC I have on my account as long as the bids are in for different securities.

It's a feature! Not a bug.