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Author Topic: a bitcoin to equity black market  (Read 1909 times)
grondilu
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November 30, 2010, 12:57:33 PM
 #1


That THE thing I would like to see :  a trust network for buying or selling stockshares with bitcoins.

Here is how it would work.

People would own conventionnal stockholding accounts on conventionnal banks.

But those people would not be the real owners of these stocks.   Real ownership will be managed on a encrypted network, whether it is centralized or not.

When a dividend is detached, the conventionnal account holder is supposed to transfer the corresponding amount, after conversion into bitcoin, to the "real" owner, who is identified only by a bitcoin address.

The amounts between conventionnal accounts should be adjusted (using conventionnal bank transfer), so that the amount per owner is as low as possible, in order to avoid excessive taxation.

Utlimately, the number of participants would be large enough so that the amount for each account would be small enough not to induce any taxation on income.
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January 20, 2011, 01:45:35 PM
 #2

What you are describing is having some agents acting on our behalf, plugging the mainsteam market into the bitcoin economy.
You could try to think of it as a kind of meta trading. An agent buys shares for a company on the NYSE, then puts ricardo contracts representing these shares on a bitcoin exchange where they are bought and sold for btc. When distributing the dividend the agent collects the cash dividend, exchanges to btc via mtgox or others, and deposits the btc into an address contolled by the exchange. The exchange distributes the dividends to the btc account of each owner of the ricardo contract.

This requires a number of steps before it is a possibility.

1) A trusted, general purpose exchange/market that uses ricardo contracts and supports paying dividends.
2) A trusted currency exchange.
3) A trusted agent buying and selling shares

All these steps require multiple levels and layers of trust and reputation.

Another related item are shares for companies dealing entirely in btc, for this you need to replace step 3 with a trust company issuing shares instead of a trusted agent.

Without agents making different items available ( shares in mainstreet companies, gold, sugar etc.) every time there is a transaction with the economy outside bitcoin it must go through a currency exchange, with the associated costs and delays. Agents permiting metta trading, and holding the goods, stock on our behalf in the mainstream market allow bitcoin trade with the outside economy to flourish.

This all requires conventions and protocols to prevent fraud and theft, like remote audits of anonymous exchanges, that I was talking about in another thread.

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idev
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January 20, 2011, 03:16:34 PM
 #3

i have a similar idea where by all transactions, fee's, share pricing would be denominated in BTC,
bitcoin Business/Website owners would then pay the market operator to establish their shares in the market.
Once the bitcoin Business/Website owner share has been established on the market it would be available for IPO.
i have the platform already just need to integrate BC into it.
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January 20, 2011, 03:53:54 PM
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i have a similar idea where by all transactions, fee's, share pricing would be denominated in BTC,
bitcoin Business/Website owners would then pay the market operator to establish their shares in the market.
Once the bitcoin Business/Website owner share has been established on the market it would be available for IPO.
i have the platform already just need to integrate BC into it.

Exactly. Your platform, is it web based or have a native client? Does it use ricardian contracts? Does it use signatures by both buyer, seller and market server to record thde transactions, is it using Open-Transactions?

I am asking this as I am working on the exact same thing. It seems there are a few of us here with the same idea and intention.

 This is a really exciting time for bitcoin, the birth of a ( what should it be called? ), and we are the figures that are in a race to et up the first bitcoin market, fighting to be the first then fighting for market share, with no governmental controls or checks. A real market economy, a libertarians dream, something even anarchists will like.

This feels like history in the making.

I was thinking of something like, mtgox wants to place usd to trade on the exchange, he keeps the reserves(ensuring liquidity in and out of the bitcoin market) and can then sell say 1000 mtgox dollar reserve shares, these shares are then traded on the exchange by anyone, at any time they can be redeemed for what they're face value is at mtgox.

The same cam be done for any good.

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grondilu
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January 20, 2011, 03:57:54 PM
 #5



Just give me a few days and I will show you my bash script in action.

http://github.com/grondilu/bitcoin-bash-tools
fabianhjr
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January 20, 2011, 05:05:23 PM
 #6

This is old though I would like to add maybe Ripple is what you are searching.
http://ripple-project.org/

grondilu
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January 20, 2011, 05:53:20 PM
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This is old though I would like to add maybe Ripple is what you are searching.
http://ripple-project.org/

Ripple focuses way too much on currencies, loans and stuffs like that.

I just want something that deals with stocks paying dividends in bitcoins.
fabianhjr
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January 20, 2011, 07:27:14 PM
 #8

Well, an IOU x share is enough. Building the Web of Trust would be hard for a market at this moment though. :/

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