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Author Topic: GLBSE - request for next features  (Read 25728 times)
2weiX
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May 08, 2012, 05:21:33 AM
 #101

from here: https://bitcointalk.org/index.php?topic=76594.320

It seems similar to a http://en.wikipedia.org/wiki/Dutch_auction to me...

Oh it is. At least it should be.

In Dutch Auction, there is ONE SALE at ONE PRICE.
If PPT is to auction off 2000 shares, these should be sold in ONE SALE at ONE PRICE (to x customers).

So the buyers will set their max buying price and then they see how they will fill up the 2000 shares.
If it needs to be one price they will need to set it at the price of the lowest of all the x costumers.
This doesn't make any sense for them because their profit is in the extra margins people pay and by lowering this their profit will shrink.


That is true.
It is also true, however, that nowhere it is stated that the issuer of a bond or somesuch be entitled to a profit.
Neither is the bond holder, to take that argument away as well.

I was only pointing out that in an auction at a stock exchange (vola phases, open, close) and at an IPO there is only ONE PRICE which is exactly where demand and supply meet. Any economics book will show two intersecting lines with supply and demand meeting at the intersection as the OPTIMUM (ie the state of MAXIMUM EFFICIENCY). Everything else favors either side of the deal greatly.

The way this is currently handled is neither optimal (as a whole) nor does it bear resemblance to any functioning stock market behavior.


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Sukrim
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May 08, 2012, 11:53:30 AM
 #102

great work. on glbse the new charts are much better then the ones on 2.0

They need tooltips though! It's really hard (especially on GIGAMINING currently) to figure out exact trading prices.

Another feature request (again): Trade and dividend histories in a simple CSV format. I wouldn't even care if they only get released/updated every 24 hours and the most recent data has to be pulled from twitter, but for longer term statistics these are really necessary. Of course in the end I hope you'll get an API similar to MtGox where you can for example specify to get every data until a certain point in time.

Also: Pre-set times for dividend and buyback orders + an API for them. These could also be announced in the interface ("Upcoming dividends, Upcoming forced buybacks").

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matthewh3
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May 08, 2012, 12:38:29 PM
 #103

I think the GLBSE needs a panel of existing CEO's to vote on adding new company's to the market like this - https://bitcointalk.org/index.php?topic=79890.0 - so they can protect there own market.  They are even looking to lend the 8BTC to registrar which isn't that bad but there trying to list a company valued at $500,000.00 and not using the funds raised on the GLBSE to buy anything of value.  That could be sold to compensate shareholders in the event of them going bust.

matthewh3
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May 08, 2012, 01:08:57 PM
 #104

I think the GLBSE needs a panel of existing CEO's to vote on adding new company's to the market like this - https://bitcointalk.org/index.php?topic=79890.0 - so they can protect there own market.  They are even looking to lend the 8BTC to registrar which isn't that bad but there trying to list a company valued at $500,000.00 and not using the funds raised on the GLBSE to buy anything of value.  That could be sold to compensate shareholders in the event of them going bust.

Maybe CEO's of high Cap company's have a higher vote ratio on high Cap IPO's and CEO's of small Cap company's have a higher vote ratio on adding other small Cap IPO's.  Due to each type of CEO having more experience in each type of IPO.

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May 08, 2012, 01:15:34 PM
 #105

I think the GLBSE needs a panel of existing CEO's to vote on adding new company's to the market like this - https://bitcointalk.org/index.php?topic=79890.0 - so they can protect there own market.  They are even looking to lend the 8BTC to registrar which isn't that bad but there trying to list a company valued at $500,000.00 and not using the funds raised on the GLBSE to buy anything of value.  That could be sold to compensate shareholders in the event of them going bust.

Maybe CEO's of high Cap company's have a higher vote ratio on high Cap IPO's and CEO's of small Cap company's have a higher vote ratio on adding other small Cap IPO's.  Due to each type of CEO having more experience in each type of IPO.

I want to see the GLBSE expand and into different boards/exchanges as well.  Maybe like a FSTE 100, a FSTE 250, a mining only board and so on.  Although it is of great concern not just to Nefario but also each listed company that fraud and bad businesses on the exchange are kept to an absolute minimal to help keep the exchange looking trustworthy for investors.

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May 08, 2012, 11:50:32 PM
 #106

Maybe someone asked for this already. On the market page can you frees the column titles row so that it is still visible when you scroll down the page.

thanks
brendio
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May 09, 2012, 08:22:09 AM
 #107

Can we get a column on the assets page for "market capitalisation"? Calculation is {last sale price} * {total issued assets}.

unclescrooge
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May 09, 2012, 08:29:53 AM
 #108

Can we get a column on the assets page for "market capitalisation"? Calculation is {last sale price} * {total issued assets}.

+1

This would be a great feature Smiley

Sukrim
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May 09, 2012, 09:26:38 AM
 #109

Can we get a column on the assets page for "market capitalisation"? Calculation is {last sale price} * {total issued assets}.

So I create an asset, issue 50 million shares and buy one with a sock puppert account for 1 BTC --> capitalization of 50 million BTC..?!

I'd rather have {last sale price} * {total assets no longer in the IPO account (transferred, sold)} but this still has room for errors/problems.

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finway
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May 09, 2012, 10:04:18 AM
 #110

One suggestion: Order the IPO list by date.  Smiley

brendio
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May 11, 2012, 09:03:03 AM
 #111

Can we get a column on the assets page for "market capitalisation"? Calculation is {last sale price} * {total issued assets}.

So I create an asset, issue 50 million shares and buy one with a sock puppert account for 1 BTC --> capitalization of 50 million BTC..?!

I'd rather have {last sale price} * {total assets no longer in the IPO account (transferred, sold)} but this still has room for errors/problems.

Agree to have this calculation for bonds, but for a share where the owner holds shares themselves, it's good to know the value of the whole company. In your example when you see a company with a 50 million BTC market cap, you know it's overvalued. For other companies, you can at least ask whether you think it's worth its market cap.

Nefario
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May 11, 2012, 09:49:14 AM
 #112

Feature request: A server that works.

+1

Uptime in the last week has been positively horrible.

Yes, uptime has been terrible, it's not that it's not been up, but not able to handle the amount of traffic, this is my first experience dealing with scaling issues, I apologize for any inconvenience caused.

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Garr255
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May 12, 2012, 01:59:14 AM
 #113

Feature request: A server that works.

+1

Uptime in the last week has been positively horrible.

Yes, uptime has been terrible, it's not that it's not been up, but not able to handle the amount of traffic, this is my first experience dealing with scaling issues, I apologize for any inconvenience caused.

Well at least the userbase is growing Smiley

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REF
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May 12, 2012, 02:23:13 AM
 #114

an option to allow ipo owners to set up an automated sell time for the release of their bonds/shares.
2weiX
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May 14, 2012, 02:37:47 PM
 #115

QR for deposit adresses, plz :-D
Nefario
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May 16, 2012, 08:33:58 PM
 #116

Full account history as CSV now available.

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
matthewh3
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May 16, 2012, 08:35:54 PM
 #117

Maybe some kind of RSS feed for each stocks new trades and new orders would be good?

Nefario
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May 16, 2012, 09:24:56 PM
 #118

Maybe some kind of RSS feed for each stocks new trades and new orders would be good?

There is the twitter feed which shows all trades, have a look at the API page.

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unclescrooge
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May 17, 2012, 12:25:30 PM
 #119

Full account history as CSV now available.

Awesome thank you!

Sukrim
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May 17, 2012, 09:58:52 PM
 #120

USD and EUR assets, similar to the BTC one.

This would allow for pricing + trading shares in fiat currencies too, however these would never be able to leave the exchange - thus being completely virtual.

Example:
I trade 1 BTC(share) for 5 USD(shares), then I can buy a share that is only listed in USD, for 0.1337 USD a share.

After getting some dividends + trading and so on, I now have 8 USD, unfortunately for me the current price to buy BTC again has risen to 16 USD per BTC. As I was anyways interested in USD however, it's likely that I'll pay out my BTC (after buying 0.5 BTC shares from my 8 USD shares) to MtGox + exchange them for USD.

Reason for all of this:
There are a bunch of things, where your costs and/or income are in fiat currencies. If you expect large volatility in the BTC<-->fiat prices, there's a big risk that people don't want to invest their BTC, as in the example above (earning 2 USD) they would see a loss of 50%. On USD side however they earned 60%! This should be visible both in the current value of the asset (= going up) and it will also make it easier to see whether an asset expects to have profits in fiat or in BTC (mining assets for example have profits in BTC while a crowdfunded solar power farm would get paid in fiat).

One of the biggest issues would be where the virtual USD (and EUR) should come from - if you keep the 1 BTC from the example above in escrow, you'd be screwed if bitcoin tanks and is only worth 1 USD for 5 BTC.
You could either:
* Create options on both ends and only create virtual fiat shares if they are backed by someone holding the other end as well ("I'll sell 100 BTC for 500 USD" <--> "I'll buy 100 BTC for 500 USD")
* Accept MtGox codes or similar in escrow (dependent on one big player though and too external in my opinion)
* Find users who would be willing to have large longterm options on at least one end of the term and "outsource" the risk of volatility to them
* Offer trades to virtual fiat yourself (at a premium or outsourced) which you then really execute on an exchange to start the money flow

Oh and by the way, there are already fiat money shares on GLBSE - one example would be SATOSHISDEAMON.HORSE, which are USD shares in a racing horse that are also valued + paid out in USD. It would be great if they would also be priced in USD.


Edit:
The poor man's version would be to pull the 24h average from bitcoinmarkets + display the value of the share in USD but always make clear that actual trades take place in BTC. This could be enabled asset by asset by the asset owner and also via a user preference.

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