Good morning everyone.
First I would like to thank you all for your interest in this project, I think it's a great idea, and so do many of you, great enough for us all to put our money into it.
However we have encountered a problem, that the person who put themselves up as the developer (daveout) is not being responsive at all, and it is safe to assume that he will not be building this for us at any price. This is a disappointment, for me and I am sure for some of you. After having looked at some of Dave's code it is clear that he would be quite capable in doing this, and was therefor our number one choice(not to mention his reputation as the builder of bitcoin-central).
This chain of events has forced us to change plan, I have talked to my management team and they are behind me on this.
We will still build the credit rating agency application, but it will take longer than I had originally expected. I am now putting the development time at around 4 months.
This is quite a long time in the bitcoin world, and a lot can happen in such a time.
So I am very pleased to announce that we are launching the development of the Bticoin Stock Market immediately, with the goal of opening for business in 2 months, and testing(that is you can play around with it) for everyone in 1 month!I have been working for a time on this tool, and we will be using my code and efforts as a starting point. This, and due to the nature of the application is why development will be so quick. The stock market platform (from here on called "the market") steals a number of ideas from OpenTransactions. We will be developing both projects side by side, and where possible share code to reduce the workload, cost and development time.
Features- Dividend payments, allows issuer of shares to make dividend payments to share owners
- Share voting, allows motions to be put forward(by owners and issuers), and voted on by share owners
- Based on Ricardian contracts allowing for very flexible shares and terms
- Public/Private key based order and verification system, this is a no password system
- Easy to use console client for windows, or any unix platform
- Tripple Entry Accounting and digitally signed receipts for each and every transaction for a cryptographically verifiable audit trail
- Digitally signed everything, making it impossible for orders, receipts,withdrawals to be faked by either a single client or the server itself
- Open Source client and publicly available trading API allowing users/traders/developers to build their own tools or customize what is already available
- Availability over i2p and Tor!
And more.
It has become clear that the bitcoin economy is in need of a stock market, not so that users can play around at buying and selling shares (which they can) but to allow investors to pool their resources and build something that a single person cannot. It is to allow the market to allocate limited resources and capital in as efficient manner as possible.
We have already seen the development of a bitcoin based company(ours being the second one), with the launching of the market, it will significantly ease in the creating of new bitcoin companies(causing an explosion of them), allowing great ideas to get funding, and successful ones to reward their investors. This will launch the bitcoin economies growth into overdrive.
And the first company to trade shares on this system will be ours!
Our management team is as follows:CEO:nefario (ME HAHA)
Treasurer:theymos
First Secretary:ColdHardMetal
Second Secretary:BitCoinPurse
We will have two primary costs, hosting and development, with the larger(and most unpredictable cost) being development.
More details on costs, company bylaws etc. as events change.
We will be having a QA session on IRC in the near future so look out for this.
Want to invest? get in contact with ColdHardMetal ASAP, tell him how much.For those who have already invested(that is sent payment)pm me to let me know how you want to proceed, if you want your investment back that's no problem.
Notice, this project and it's development has already begun, call for Ruby devs!We need 2-3 ruby developers to get in on this project(ruby, not rails, but rails experience is OK). This will be BTC paid work! Or if you prefer you can get equity.
More experience is better, but if your fresh that's OK too, this is your chance to get some experience and make a place for yourself in bitcoin History(with a capital H). Whats important is that you work hard and are willing to learn.
Those interested PM me ASAP
