[BTC-TC] Virtual Community Exchange [CLOSED]

[Lohoris]

On market tab click create security and its on asset issuer terms of service.

Thanks

I think the problem is that with a fully refundable fee is that people will create bad securities and spam the system. But now there is no incentive for moderators to vote in a timely fashion so burnside is trying to make an incentive for them to do so (50% refund).

That's what I have gathered.

Yes, but as I said:
1. it doesn't make any sense to pay such a huge sum to "maybe get what you asked for, maybe nothing"
2. to prevent spam you can simply ask a extremely small collateral, such as 0.1 BTC instead of the whole sum

[1713527344]

1713527344

[pascal257]

No refunds is the way to go. Keep in mind that the moderators have to get deep inside into an IPO before voting, which costs time. So they should be paid for their time no matter the quality of business they're judging.

I like the 50% refund idea. I would split it into 25%, 50% and 75% (and maybe 100%) for each week the stock is waiting approval / sufficient votes.

[Deprived]

No refunds is the way to go. Keep in mind that the moderators have to get deep inside into an IPO before voting, which costs time. So they should be paid for their time no matter the quality of business they're judging.

I like the 50% refund idea. I would split it into 25%, 50% and 75% (and maybe 100%) for each week the stock is waiting approval / sufficient votes.

Yeah - number of vote NOT number of YES votes should be the criterion for refunds.  If it's apathy from moderators then refund.  If it's a shitty security then tough luck.

[Ac3Upz]

What does "Excessive wait trying to get lock on xxx" mean?
EDIT: Hm, the bid wasn't accepted. Anyone else having the same problem?
EDIT2: I tried to logout and login again, now it's working.

[furuknap]

No refunds is the way to go. Keep in mind that the moderators have to get deep inside into an IPO before voting, which costs time. So they should be paid for their time no matter the quality of business they're judging.

But why should they bother spending that time at all? They get paid no matter how many votes they pass or don't pass.

I like the 50% refund idea. I would split it into 25%, 50% and 75% (and maybe 100%) for each week the stock is waiting approval / sufficient votes.

Why can't we just set a date like in any voting process? We don't postpone elections until enough people have voted; we set a date and by that time, whoever has voted gets counted. Those that do not vote do not count.

Workflow like this:

On application, a date is set 14 days into the future. Voters receive information immediately containing the contract and other information sent as one neat package. The final date for voting is listed on the asset seeking application.

12 days after application, voters that have not yet voted gets a reminder to vote.

14 days, and on the due date, a final notification is sent to everyone to remind them to vote or to review their votes if there have been changes to contracts or situation.

15 days after the application, the votes are counted. More Yes votes means application succeeds, More No votes mean application fails.

.b

[Deprived]

What does "Excessive wait trying to get lock on xxx" mean?
EDIT: Hm, the bid wasn't accepted. Anyone else having the same problem?
EDIT2: I tried to logout and login again, now it's working.

That happens from time to time - its a problem that should be sorted once burnside finishes moving balance queries away from accessing bitcoind and onto reading from a database table.

Basically the system struggles when there's a lot of activity occurring - as it's taking way to long to carry out actions.

Another symptom you'll sometimes see is that when you load market it shows an out of date or empty values for number of shares held and/or available balance.

Both problems are solved by refreshing every few seconds until it works.

[burnside]

What does "Excessive wait trying to get lock on xxx" mean?
EDIT: Hm, the bid wasn't accepted. Anyone else having the same problem?
EDIT2: I tried to logout and login again, now it's working.

That means another trade was going through at the same time and it took a while.  The engine takes out exclusive locks on any action that can modify the state of each individual security.  (eg, making a bid/ask order, exercising an option, etc.)

I've cleared out most of the performance issues around the bitcoind.  I think we now have two situations that cause this:

1) Lots of traffic.
2) I suspect it may happen when the db is getting backed up.  The db dump takes out read locks.  I'm hoping to address this soon by setting up db replication, then doing the backups on the replica.

Cheers.

[vandinn]

Hi guys, noob question: Where do I find what time exactly there will be the next IPO at btct.co?

I see the securities being reviewed and waiting for approval, but can't find the exact time of their IPO.

Thanks

[Deprived]

Hi guys, noob question: Where do I find what time exactly there will be the next IPO at btct.co?

I see the securities being reviewed and waiting for approval, but can't find the exact time of their IPO.

Thanks

You can't tell in advance.

They can't sell until they get approval and that happens if/when they get 5 YES vote from moderators.

After that the Issuer can start selling whenever they want - most just put up sales right away (which is actually a bad move if they only have limited shares to sell - but most have no idea how to maximise their IPO revenue).  Think furknap was going to give some notice on his (once approved) - which is far better than selling right away (I only gave a short period of notice on DMS - but there's unlimited supply at a fixed price on that so no benefit to anyone in adding a delay).

[Ac3Upz]

Hello burnside,
can I ask how is the value of transfered shares in "My Value Analysis" calculated?
I have some DMS shares transfered from Deprived and most of them shows some value (but I'm not sure how it is calculated), but one transfer is valued at BTC0.

[carnitastaco]

Hello burnside,
can I ask how is the value of transfered shares in "My Value Analysis" calculated?
I have some DMS shares transfered from Deprived and most of them shows some value (but I'm not sure how it is calculated), but one transfer is valued at BTC0.

market price at time of transfer

[burnside]

Hello burnside,
can I ask how is the value of transfered shares in "My Value Analysis" calculated?
I have some DMS shares transfered from Deprived and some have some value, but one transfer is valued at BTC0.

It depends on the sender to plug something in.  I have a little JS that tries to grab the 7d avg when someone sends, but it doesn't always work.

I'm hoping before too long to have a way for people to edit that in the page.

Cheers.

[ThickAsThieves]

Hello burnside,
can I ask how is the value of transfered shares in "My Value Analysis" calculated?
I have some DMS shares transfered from Deprived and some have some value, but one transfer is valued at BTC0.

It depends on the sender to plug something in.  I have a little JS that tries to grab the 7d avg when someone sends, but it doesn't always work.

I'm hoping before too long to have a way for people to edit that in the page.

Cheers.

How come my balance was showing X+100, and now is showing X? Can I have my free bitcoins back please? 

[maco]

Account locked...
Too many failed attempts

It was all me.. what do I do now?

[Ac3Upz]

Hello burnside,
can I ask how is the value of transfered shares in "My Value Analysis" calculated?
I have some DMS shares transfered from Deprived and some have some value, but one transfer is valued at BTC0.

It depends on the sender to plug something in.  I have a little JS that tries to grab the 7d avg when someone sends, but it doesn't always work.

I'm hoping before too long to have a way for people to edit that in the page.

Cheers.

How come my balance was showing X+100, and now is showing X? Can I have my free bitcoins back please? 

The strange thing is, that the "Weighted Average Paid" is quite accurate (I have the actual value in excel sheet), thanks to the one transfer with 0 value

[maco]

Solved it. I just reset the password after 15 minutes. All good.

Account locked...
Too many failed attempts

It was all me.. what do I do now?

[MikkisJ]

Trade history only goes to 2013-05-29. Why is that? And what was the price before that?

[burnside]

Hello burnside,
can I ask how is the value of transfered shares in "My Value Analysis" calculated?
I have some DMS shares transfered from Deprived and some have some value, but one transfer is valued at BTC0.

It depends on the sender to plug something in.  I have a little JS that tries to grab the 7d avg when someone sends, but it doesn't always work.

I'm hoping before too long to have a way for people to edit that in the page.

Cheers.

How come my balance was showing X+100, and now is showing X? Can I have my free bitcoins back please? 

Manual withdrawal go through while you weren't looking?

[burnside]

Trade history only goes to 2013-05-29. Why is that? And what was the price before that?

If it showed it all many browsers would croak.

Complete history is available via API or via graphs at coinflow.co (which is undergoing an upgrade atm.)

Cheers.

[burnside]

Solved it. I just reset the password after 15 minutes. All good.

Account locked...
Too many failed attempts

It was all me.. what do I do now?

A password reset will unlock it.  It will also unlock automatically after a while.

Cheers.