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Author Topic: Official Labrat Mining (LRM) Share Trading Thread  (Read 54983 times)
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contactmike1
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October 29, 2013, 02:29:09 AM
 #1

*fees change weekly.  Please check with grnbrg if you are unsure of the current fee.

It's Monday, and Bitcoin has been toying with $1000 for the last week.  Last year at this time it was around $12.  Wow.

Accordingly, the transaction fee for bond transfers will be 0.01BTC for the next week.

And a repost of the guide again.

  • Seller has a public Bitcoin address <Seller-Address>, Buyer has a public address (which may be new, if the buyer does not currently hold any LRM bonds) <Buyer-Address>.
  • Buyer and Seller have agreed on the number of bonds, and a price for the transfer.
  • Fee for the transaction is 0.01BTC.
  • Both Buyer and Seller need to sign and send the below message to me, via PM, email, IRC, carrier pigeon, or some other method.  I don't care how it gets to me, I just need the message. 
  • The message should be a single line of text.  Multiple lines tend to be easier to mess up.
  • Message should be:
<Number> bonds to be transferred from <Seller-Address> to <Buyer-Address> in exchange for <Price> BTC. <Price> BTC will be escrowed to 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht and <Price - 0.01> will be paid to <Sellers-Address>
  • BTC can be sent to escrow at 1EYVW3ZUu3R8fd3xtWi5jh4ceTXZ7Z1uht (my address) at any time in the process.  If the transaction fails, I will return 100%.
  • Once I have verified the signatures from both messages and received the payment, I will transfer the payment (less the fee) to the seller.
  • Once the seller is paid, I will communicate the trade to Lab_Rat, the buyer and seller, and post it publicly here.  This final trade notification will be signed with my GPG key.

   
Note that the above message is just a suggestion, which assumes payment of the fee by the seller.  As long as it is unambiguous, and states the obligations of all involved, it really doesn't matter.  There is also no requirement to escrow through me, as long as the payment method is clear in the signed messages.  And it's best to not include the userid or contact info of either party in the message.  It's not needed, and some people will object to being so identified.



grnbrg

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contactmike1
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October 29, 2013, 02:35:12 AM
 #2

Old procedure for historical purposes.


Until the new, automated LRM method for share trading is available, here is the method to buy and sell shares:

1.  Make a new post in this thread quoting the current Bid/Sell table and add your entry to the table.  If every reply includes an updated table, then there is no need to read previous posts.

2.  If you are interested in a posted trade, PM the user to accept the trade.  Perform any additional negotiations (if necessary) over PM.  Do not post a thread reply for 1on1 communication.

3.  Upon agreement, both users will send a signed message to both labrat@labratmining.com and grnbrg@grnbrg.org using the BTC address associated with their LRM shares.  This signed message must note the number of shares bought/sold and the price.  Both the buyer and the seller must send signed messages to LRM before the trade is considered valid, and the price and # of shares must match in both signed messages.  

4.  Remove the traded shares from the market by replying to this thread.

5.  Labrat or grnbrg will email the escrow BTC address to the buyer.  

6.  Buyer sends BTC to the escrow address.  Once the coins are received in escrow, the manual trading fee of 0.5% or 0.025BTC, whichever is greater, will be deducted from the escrow address.  

7.  LRM executes the trade.  The seller is sent the balance in the escrow account, and the shares are manually moved to the buyer's account.
 
8.  Do not push shares on Bitfunder for private sales.  Share counts on bitfunder are not valid and will not be honored by LRM.  Shares can not be bought nor sold using the bitfunder asset list.


Quote
Sample Labrat Mining Market Table

BID:
50@0.0913 - ForumHandle1
100@0.08 - ForumHandle2

 
ASK:
21@0.101 - ForumHandle3
204@0.11 - ForumHandle4



The LRM team is also working on a process.  This thread will be retired if and when they make an official thread or announcement.
I'm still working out the details with @Lab_Rat, but the short version is going to be that both parties will need to send an email to LR or myself, signed with the BTC address associated with the LRM shares outlining the transaction.  "I want to buy 50 shares from <address> for XXXXBTC" "I want to sell 50 shares to <address> for XXXXBTC".   I will provide a BTC address and will receive the funds from the buyer, and transmit them to the seller, less a 0.5% fee.  (Minimum fee of 0.025 BTC.)  Once I have received the payment I will update the master spreadsheet of bonds to reflect the requested sale.

The above may change slightly.  And @Lab_Rat needs to set up the spreadsheet yet.  But that's the idea.



grnbrg.
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October 29, 2013, 02:55:21 AM
 #3

I'll start us off.  It will be interesting to see if we can establish a market price on a message board. 


Quote
Labrat Mining Market

BID:
None
 
ASK:
500@0.3 - contactmike1
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October 29, 2013, 02:58:46 AM
 #4

I'll start us off.  It will be interesting to see if we can establish a market price on a message board. 


Quote
Labrat Mining Market

BID:
None
 
ASK:
100@0.15 - bittymitty
500@0.3 - contactmike1
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October 29, 2013, 03:02:13 AM
 #5

BID:
None
 
ASK:
130@0.12 - fran2k
100@0.15 - bittymitty
500@0.3 - contactmike1
bittymitty
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October 29, 2013, 03:03:59 AM
 #6

BID:
100@0.02 bittymitty
 
ASK:
130@0.12 - fran2k
100@0.15 - bittymitty
500@0.3 - contactmike1

BKM
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October 29, 2013, 03:09:16 AM
 #7

Quote
BID:
25@0.025 BKM
100@0.02 bittymitty
 
ASK:
130@0.12 - fran2k
100@0.15 - bittymitty
500@0.3 - contactmike1

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October 29, 2013, 03:13:17 AM
 #8

I can be contacted here by PM, or by email at "grnbrg@grnbrg.org".

grnbrg.
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October 29, 2013, 03:20:38 AM
 #9

Quote
BID:
100@0.026 bittymitty
25@0.025 BKM

 
ASK:
100@0.115 - bittymitty
130@0.12 - fran2k
500@0.3 - contactmike1


fran2k
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October 29, 2013, 03:22:15 AM
 #10

This will be fun.

Quote
BID:
100@0.026 bittymitty
25@0.025 BKM

 
ASK:
130@0.11 fran2k
100@0.115 bittymitty
500@0.3 contactmike1
kaneda2004
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October 29, 2013, 03:51:10 AM
 #11

Quote
BID:
100@0.026 bittymitty
25@0.025 BKM

 
ASK:
130@0.11 fran2k
100@0.115 bittymitty
254@0.15 kaneda2004
500@0.3 contactmike1
contactmike1
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October 29, 2013, 05:39:04 AM
 #12


Quote
BID:
25@0.030 contactmike1
100@0.026 bittymitty
25@0.025 BKM

 
ASK:
130@0.11 fran2k
100@0.115 bittymitty
254@0.15 kaneda2004
1000@0.30 contactmike1
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October 29, 2013, 05:56:19 AM
 #13

Quote
BID:
20@0.035 BKM
25@0.030 contactmike1
100@0.026 bittymitty


 
ASK:
130@0.11 fran2k
100@0.115 bittymitty
254@0.15 kaneda2004
1000@0.30 contactmike1
300@1.0 BKM

fran2k
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October 29, 2013, 12:35:37 PM
 #14

Quote
BID:
20@0.035 BKM
25@0.030 contactmike1
100@0.026 bittymitty
 
ASK:
130@0.1 fran2k
100@0.115 bittymitty
254@0.15 kaneda2004
1000@0.30 contactmike1
300@1.0 BKM
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October 29, 2013, 02:53:31 PM
 #15

BID:
20@0.035 BKM
25@0.030 contactmike1
100@0.026 bittymitty
 
ASK:
130@0.1 fran2k
100@0.115 bittymitty
254@0.15 kaneda2004
500@0.18 rustyh17
1000@0.30 contactmike1
300@1.0 BKM
bittymitty
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October 30, 2013, 12:00:41 AM
 #16

BID:
50@0.04 Bittymitty
20@0.035 BKM
25@0.030 contactmike1

 
ASK:
5@0.09 bittymitty
130@0.1 fran2k
100@0.115 bittymitty
254@0.15 kaneda2004
500@0.18 rustyh17
1000@0.30 contactmike1
300@1.0 BKM
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October 30, 2013, 12:37:08 AM
 #17

Quote
BID:
50@0.05 runam0k
50@0.04 Bittymitty
20@0.035 BKM
25@0.030 contactmike1

 
ASK:
5@0.09 bittymitty
130@0.1 fran2k
100@0.115 bittymitty
254@0.15 kaneda2004
500@0.18 rustyh17
1000@0.30 contactmike1
300@1.0 BKM
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October 30, 2013, 11:28:52 AM
 #18

Quote
BID:
50@0.05 runam0k
50@0.04 Bittymitty
20@0.035 BKM
25@0.030 contactmike1

 
ASK:
130@0.08 fran2k
5@0.09 bittymitty
100@0.115 bittymitty
254@0.15 kaneda2004
500@0.18 rustyh17
1000@0.30 contactmike1
300@1.0 BKM
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October 31, 2013, 05:46:10 PM
 #19


Quote
BID:
50@0.05 runam0k
50@0.04 Bittymitty
20@0.035 BKM
25@0.030 contactmike1
100@0.022 7cZ0


ASK:
130@0.08 fran2k
5@0.09 bittymitty
100@0.115 bittymitty
254@0.15 kaneda2004
500@0.18 rustyh17
1000@0.30 contactmike1
300@1.0 BKM
fran2k
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November 01, 2013, 03:19:16 PM
 #20

Quote
BID:
50@0.05 runam0k
50@0.04 Bittymitty
20@0.035 BKM
25@0.030 contactmike1
100@0.022 7cZ0

ASK:
130@0.08 fran2k
5@0.09 bittymitty
100@0.115 bittymitty
254@0.15 kaneda2004
500@0.18 rustyh17
1000@0.30 contactmike1
300@1.0 BKM
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