[ANN] Qora | Released 16 May | 100% POS | New Source

[dzarmush]

Won't it be confusing to have 2 assets?

No, just list as many asset ids as you want in your annoucements and explain that you have received a new stake of Qoras that you issue new assets for. As long as you redeem them on stated terms, there should be no problem.

You can call them Qora-DzarmushBank1, Bank2, etc.

Ok.

Then I guess I can do it. If it works and people send me more coins that I can cover in case of loss we'll just find someone super trustful to hold coins. Or I'll buy a huge safe and new laptop just for Qora )

[1714867429]

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[devphp]

Ok.

Then I guess I can do it. If it works and people send me more coins that I can cover in case of loss we'll just find someone super trustful to hold coins. Or I'll buy a huge safe and new laptop just for Qora )

Yeah, banking has its costs, but that's why you: a) are the first to set the price you're satisfied with; b) charge a redemption fee as an insurance and to compensate for your time.

Just try it on a small scale, you can always issue a new asset.

[dzarmush]

Does anyone know similar assets to look at descriptions?

[Vrontis]

Does anyone know similar assets to look at descriptions?

Here are the assets http://87.230.14.1/nxt/nxt.cgi?action=70&sort=1
Check Nemstake http://87.230.14.1/nxt/nxt.cgi?action=4000&aea=12465186738101000735

[dzarmush]

Does anyone know similar assets to look at descriptions?

Here are the assets http://87.230.14.1/nxt/nxt.cgi?action=70&sort=1
Check Nemstake http://87.230.14.1/nxt/nxt.cgi?action=4000&aea=12465186738101000735

Thanks.

Also found here http://nxtblocks.info/#section/assets_exchange/12465186738101000735

[devphp]

Does anyone know similar assets to look at descriptions?

It can be as easy as:

------------
Qora tokens (each asset token = 1 Qora currency unit), redeemable from Qora wallet address: heregoestheqorawalletaddresswiththebalancetheycanlookontheblockchain.

Redemption rules:
1) Transfer asset units to this NXT account (put your NXT account here), write your Qora wallet in the 'comments' section.
2) We charge a 0.5% fee for redemptions.
3) Minimum redeemable amount is 1000 Qoras. <- change this to any other amount you feel comfortable with.
4) Redemption times can vary, but will not exceed 24 hours. <- change the hours to what you think you can guarantee.
5) In case of emergency, please send us a message through your NXT client.
------------

[Djinou94]

First try. I've got no experience in ui design whatsoever, so it might be lame, but it's a start  

love this design,could you use this design in the new wallet,qora.

Nice!!!

[abctc]

Let's think this through.
1. I release QORA asset: 10'000'000 units that represent 100'000'000 Qora coins.
2. I set all units on sale at the price I'm comfortable with ...

- it seems you misunderstood the gateway-owner role.

May I remind the basic scheme:

1] dzarmush issues, say, 10'000'000 units of "dzQora" asset. Each asset equals 1000 Qora.
2] To get Qora-assets, someon sends any number of Qoras (at least 1000) to dzarmush's Qora address
Qasst9cNf43daLJrjD3FZBALUUyhqHqX........ with a message in the transaction that only contains your NXT address.
3] dzarmush receives Qoras (say, 1'000'000 Qoras), and transfers 990 dzQoras to that NXT address (1% comission).
4] The owner of 990 dzQoras trades them on Asset Exchange at the price of his choice..
5] The new owner of 990 dzQoras decides to convert them to real Qoras, and transfers 990 dzQoras to the issuers (dzarmush) NXT-account, and in the attached message puts Qora address.
6] dzarmush sends 990 * 1000 *0.99 = 980'100 Qoras (1% comissin) to that Qora address.

Does anyone know similar assets to look at descriptions?

- https://docs.google.com/document/d/1FOKEtA6lZoLJBA74jYZQpFPFRt5pDhhBmixS9P-hGH4/edit

[Vrontis]

Just a question regarding the asset.

If it made by one person, one qora coins holder, then, when the supply of qoras fulfilled by the users who bought the assets the qoras distribution will stop from the asset issuers.
Should you take a further action in order to request from qora holders to get involved with their coins.
The steps in this scenario are :
1.Create a qora account where you will collect the qoras from all of the involved holders (placing a deadline).
2.Issue the asset
3.Sell assets
4.Exchange nxt to qoras.
5.Distribute nxts to qora holders that they have been involved.

By doing that you will supply more qoras IMO.
You can start by announce it at here and OTC xchg with a deadline, so, in case qora holders want to get involved it will bring a bigger supply to the asset exchange.

Thanks

[devphp]

Just a question regarding the asset.

If it made by one person, one qora coins holder, then, when the supply of qoras fulfilled by the users who bought the assets the qoras distribution will stop from the asset issuers.
Should you take a further action in order to request from qora holders to get involved with their coins.
The steps in this scenario are :
1.Create a qora account where you will collect the qoras from all of the involved holders (placing a deadline).
2.Issue the asset
3.Sell assets
4.Exchange nxt to qoras.
5.Distribute nxts to qora holders that they have been involved.

By doing that you will supply more qoras IMO.
You can start by announce it at here and OTC xchg with a deadline, so, in case qora holders want to get involved it will bring a bigger supply to the asset exchange.

Thanks

Every Qora holder can be their own small or big exchange buro on the NXT AE. Someone has to be the first one. All the asset issuers can compete on the exchange rates just like exchange buros compete on them. The first one who starts gets the first mover advantage. Of course, as long as he keeps his obligations. The market will decide the winners. That's capitalism at its best and an interesting experiment, since there are no regulations of any sorts. All you need is trust from users.

[Vrontis]

Just a question regarding the asset.

If it made by one person, one qora coins holder, then, when the supply of qoras fulfilled by the users who bought the assets the qoras distribution will stop from the asset issuers.
Should you take a further action in order to request from qora holders to get involved with their coins.
The steps in this scenario are :
1.Create a qora account where you will collect the qoras from all of the involved holders (placing a deadline).
2.Issue the asset
3.Sell assets
4.Exchange nxt to qoras.
5.Distribute nxts to qora holders that they have been involved.

By doing that you will supply more qoras IMO.
You can start by announce it at here and OTC xchg with a deadline, so, in case qora holders want to get involved it will bring a bigger supply to the asset exchange.

Thanks

Every Qora holder can be their own small or big exchange buro on the NXT AE. Someone has to be the first one. All the asset issuers can compete on the exchange rates just like exchange buros compete on them. The first one who starts gets the first mover advantage. Of course, as long as he keeps his obligations. The market will decide the winners. That's capitalism at its best and an interesting experiment, since there are no regulations of any sorts. All you need is trust from users.

Yes, you are totally right about this, i agree.
Well, i might talking about a "Qora movement" into the NXT AE.

[dzarmush]

Let's think this through.
1. I release QORA asset: 10'000'000 units that represent 100'000'000 Qora coins.
2. I set all units on sale at the price I'm comfortable with ...

- it seems you misunderstood the gateway-owner role.

Isn't it the same scheme I described? Except 2nd point. But since I own the amount of Qora I'm issuing the asset why woudn't I set selling orders.

[Agestorzrxx]

It's absolute a bad idea to use NXT AE.
People sell qora for btc not NXT.
The price of NXT has been overvalued.

[dzarmush]

Just a question regarding the asset.

If it made by one person, one qora coins holder, then, when the supply of qoras fulfilled by the users who bought the assets the qoras distribution will stop from the asset issuers.
Should you take a further action in order to request from qora holders to get involved with their coins.
The steps in this scenario are :
1.Create a qora account where you will collect the qoras from all of the involved holders (placing a deadline).
2.Issue the asset
3.Sell assets
4.Exchange nxt to qoras.
5.Distribute nxts to qora holders that they have been involved.

By doing that you will supply more qoras IMO.
You can start by announce it at here and OTC xchg with a deadline, so, in case qora holders want to get involved it will bring a bigger supply to the asset exchange.

Thanks

Every Qora holder can be their own small or big exchange buro on the NXT AE. Someone has to be the first one. All the asset issuers can compete on the exchange rates just like exchange buros compete on them. The first one who starts gets the first mover advantage. Of course, as long as he keeps his obligations. The market will decide the winners. That's capitalism at its best and an interesting experiment, since there are no regulations of any sorts. All you need is trust from users.

Still there's only one person ownes issuing account. It means all deposits goes through this person.

[dzarmush]

It's absolute a bad idea to use NXT AE.
People sell qora for btc not NXT.
The price of NXT has been overvalued.

No one forces you to trade Qora for Nxt. It's a free market.

[devphp]

Isn't it the same scheme I described? Except 2nd point. But since I own the amount of Qora I'm issuing the asset why woudn't I set selling orders.

abctc talks about two-way exchanges and charging a fee for it.

You can start with a one-way exchange for now by issuing tokens against your qoras and selling them. You can buy them too at the same exchange, nobody can stop you from that

[dzarmush]

How about?

"Every of 100 million QORA-I units represents one Qora coin. To withdraw, send your assets to NXT-XXXX-XXXX-XXXX-XXXX and add your Qora address to the comment field. For deposits and other information including current fee, minimum redeemable amount and maximum redemption time go to xxxxx.org. Remember that asset names are not unique. Always check the issuer and asset ID."

[devphp]

Still there's only one person ownes issuing account. It means all deposits goes through this person.

Yes, and I don't see any problem with that. Trusting one person is no harder than trusting a group of people (company, organization). In fact, I prefer to trust an individual. If there are a few competing individuals with their exchange buros, that's only good.

[devphp]

How about?

"Every of 100 million QORA-I units represents one Qora coin. To withdraw, send your assets to NXT-XXXX-XXXX-XXXX-XXXX and add your Qora address to the comment field. For deposits and other information including current fee, minimum redeemable amounta and maximum redemption time go to xxxxx.org. Remember that asset names are not unique. Always check the issuer and asset ID."

Sure, why not. If you might wish to change redemption rules down the road and publish updated rules on a website, that's fine. Then put the website address in the description. As long as people have all the information on how to proceed, that's all that matters.

Hint: be sure to specify on the website at least a few days in advance that your redemption rules will be changed on xx.xx.xx date.

[peled1986]

- if you need an exchange to trade your Qora's, you can use distributed Asset Exchange.
Some trustworthy member can create a Qora gateway, like bitcoin veteran Noitev has made his BTC gateway.
All trades at Asset Exchange are automatic, and trustless.

If I understand correctly Nxt AE is very similar to the way the ripple network works.
The Asset Exchange is automatic but the Qora gateway issuer is the "point of weakness" because he has to be trusted.