Investors for bitcoin stock market and credit rating agrency, dev started!

[So_Cynical]

will a clearing house be established? how will new company's list, will there be rules for the issuing of prospectuses? will there be a regulatory body with powers to keep company managements open and honest...hold them accountable, protect the rights of shareholders?

As I see it, there will be nothing like this whatsoever.  It will be much more "wild", for everything will be reputation based.

Yep after spending an hour or so reading thru the legal thread im beginning to understand that this is the wild wild west....cept without guns, cheap whisky and easy women.

Realistically what sort of company's/stocks can list here? considering the limitations.

• bitcoin services (banking, P2P lending, currency exchange)
• retailers
• funds
• adult
• dating
• travel?
• VOIP (call centres?)
• help desk
• software

There are lots of limitations.

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[Nefario]

You should read up on ricardian cntracts, as that is what this exchange will be based on. You wont be able to trade using a browser, you will need to use our(or someone elses) client as it does quite a few things not really possible in a browser, at least not yet.

Because it's based on ricardian contracts, pretty much any kind of stock is tradable, from a share in some company to futures contracts(I would imagine for crops not normally traded on a stock market, if you know what I mean )

We will keep the rules to an absolute minmum. We will also be allowing non-shares contracts to be traded. Keep an eye out for when we do a Q&A session on irc next week.

[Nefario]

Demo client ready
The working title of our stock market platform is BlackMarket.

Were building a client that will be available under the FreeBSD licence.

The client (bmc) is a console based application, because of the cryptography involved trades cannot be make using the web browser currently. One of the goals of this client is to make it very easy to use.

And so, with much thanks to Ryland Taylor-Almanza who is working on this we have the first available user interface to play with.

You'll need Linux, and a working installation of ruby(we're using 1.9.2 but I think 1.8.6/7 may work, have not tested).

Files to download are bmcmenu-0.0.1.gem and bmc

Install with

Code:

gem install bmcmenu-0.0.1.gem

then run bmc from the same directory with

Code:

./bmc

I would recommend anyone who is investing in this to give the client interface a try and make any suggestions.

All suggestions welcome, also before anyone asks, the client when finally ready will automatically create a new trade account on the server when run for the first time, so it should be almost zero config to start using.

[abstraction]

The working title of our stock market platform is BlackMarket.

Why not something like "Bitcoin Stock Exchange" (BSE) or "Bitcoin Exchange: Stocks & Trades" (BEST)? People who think they do legitimate business will not want to associate with an entity named BlackMarket, imho. And really, it's the uncorrupted White Market.

[So_Cynical]

The working title of our stock market platform is BlackMarket.

Why not something like "Bitcoin Stock Exchange" (BSE) or "Bitcoin Exchange: Stocks & Trades" (BEST)? People who think they do legitimate business will not want to associate with an entity named BlackMarket, imho. And really, it's the uncorrupted White Market.

Agree....it just sounds weird to be trying to drum up support for your listing on the Blackmarket.

Have a naming comp or something.

[Nefario]

Working title, I just thought that the name was cool. It IS cool, but doesn't mean it's the most appropriate.

[Stephen Gornick]

On a related note:

They've offered a virtual stock exchange enabling participants to invest virtual currency dollars into the different startup companies.  The virtual currency has no value outside the exchange however.  Maybe for next year's event their virtual stock exchange will instead be offered with a digital currency where real money is invested.

Wouldn't a better approach be where, that by the time Austin's city limits are reached, the winner is already funded?

  http://www.bitcoinmoney.com/post/3768248783

[abstraction]

How is this project going?