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Author Topic: GLBSE - request for next features  (Read 25711 times)
Daily Anarchist
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May 18, 2012, 01:19:58 AM
 #121

I haven't read the entire thread, so my apologies if this has already been discussed.

But it would be cool if your portfolio showed all unrealized gains/losses in securities. Basically, implementing as many features as you might find in TD Ameritrade would be cool.

Big fan of GLBSE 2.0. I remember reading in a different thread somewhere that you had to sacrifice anonymity for simplicity of use in GLBSE 2.0. Is this true and will complete anonymity ever be an option in the future again, so that one can choose anonymity or simplicity?

Keep up the good work!

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Nefario
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May 18, 2012, 01:37:03 AM
 #122

I haven't read the entire thread, so my apologies if this has already been discussed.

But it would be cool if your portfolio showed all unrealized gains/losses in securities. Basically, implementing as many features as you might find in TD Ameritrade would be cool.

Big fan of GLBSE 2.0. I remember reading in a different thread somewhere that you had to sacrifice anonymity for simplicity of use in GLBSE 2.0. Is this true and will complete anonymity ever be an option in the future again, so that one can choose anonymity or simplicity?

Keep up the good work!

2.0 just requires a working email address, how anonymous you want to be is up to yourself.

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May 18, 2012, 03:10:04 AM
 #123

nicely done redesign for the v2!

please add asset name to html title tag on asset's page; so when viewing particular asset a browser tab would show something like "GLBSE - XYZ"
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May 18, 2012, 07:52:52 AM
 #124

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.

I quite disagree with this. GLBSE is about investing in BTC economy. Maybe if a glbse stock has its revenue in USD, it should not be listed here?

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May 18, 2012, 03:14:54 PM
 #125

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.

I quite disagree with this. GLBSE is about investing in BTC economy. Maybe if a glbse stock has its revenue in USD, it should not be listed here?

yeah, maybe it should take its multibillion enterpr- oh wait

i have repeatedly requested this.
it makes total sense.
bitcoin is not only a storage of value, but also a great method to MOVE value.
if that value is determined by € or USD or whatever...

we need to broaden our collective minds to look BEYOND the itty-bitty world that is bitcoin.org

i would totally dig this feature as it would be perfect for MY business as well.
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May 18, 2012, 04:16:42 PM
 #126

yeah, maybe it should take its multibillion enterpr- oh wait

i have repeatedly requested this.
it makes total sense.
bitcoin is not only a storage of value, but also a great method to MOVE value.
if that value is determined by € or USD or whatever...

we need to broaden our collective minds to look BEYOND the itty-bitty world that is bitcoin.org

i would totally dig this feature as it would be perfect for MY business as well.


IMO bitcoin's true strength lies in its utility as a value transfer mechanism. With that in mind it becomes a great way for raising capital free of regulatory interference. There's nothing preventing an individual from perceiving the BTC they invest in a venture as being a USD investment that was transferred using BTC, without GLBSE itself allowing USD etc valued assets. The problem lies in treating the BTC transferred as an alternative investment in its own right to be compared to the venture being invested in.

My concern is that once assets start being denominated in USD or XXX, their might be additional regulatory issues attached to that denomination that may be something we collectively want to avoid, whether any actual USD, XXX etc is really changing hands or not.

I do like the idea of more people being willing to list assets, and finding a way past this hurdle is definitely worth pursuit.

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May 18, 2012, 04:20:04 PM
 #127

When a person opens a TD Ameritrade account do their holding also get listen in Euros and Yen? It's been a while since I used TD Ameritrade, but if my memory serves me correctly, it does not.

So, I don't really see any reason or benefit to labeling things in different currencies. Sounds like more headache for the developers than it's worth.

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May 18, 2012, 05:52:02 PM
 #128

Just floating an idea

An options for Assets to have an account like "growth fund" where BTC can be deposited and stored. But the customer can verify the balance thru GLBSE. I can do 90% of this already by having multiple deposit address with GLBSE.I know with blockchain I can show BTC going into my asset, but I don't have a way of proving its still there ie not transferred,assets purchased,etc.

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May 18, 2012, 07:20:30 PM
 #129

yeah, maybe it should take its multibillion enterpr- oh wait

i have repeatedly requested this.
it makes total sense.
bitcoin is not only a storage of value, but also a great method to MOVE value.
if that value is determined by € or USD or whatever...

we need to broaden our collective minds to look BEYOND the itty-bitty world that is bitcoin.org

i would totally dig this feature as it would be perfect for MY business as well.


IMO bitcoin's true strength lies in its utility as a value transfer mechanism. With that in mind it becomes a great way for raising capital free of regulatory interference. There's nothing preventing an individual from perceiving the BTC they invest in a venture as being a USD investment that was transferred using BTC, without GLBSE itself allowing USD etc valued assets. The problem lies in treating the BTC transferred as an alternative investment in its own right to be compared to the venture being invested in.

My concern is that once assets start being denominated in USD or XXX, their might be additional regulatory issues attached to that denomination that may be something we collectively want to avoid, whether any actual USD, XXX etc is really changing hands or not.

I do like the idea of more people being willing to list assets, and finding a way past this hurdle is definitely worth pursuit.

the regulatory issue is the only one i consider a hindrance.

i (once again) give the following example:


i buy and sell gold and silver. i also trade € vs BTC face to face. in large quantities.

so i need to buy my gold and silver in € and i frequently spend € on BTC.

so if i need to raise 20000€ for inventory i would like to repay 20500€ to my shareholders.

of course I can have someone write a pricing bot for me via the API, but it seems pretty easy for knowledgeable folk like nefarion to "simply" implement it from what little i do know about programming. it's pretty much a division/multiplication thingamajig, no?

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May 21, 2012, 04:18:35 AM
 #130

* Fix the depth chart. I don't care that someone has bid of 100000@0.0000001 and someone else has an ask of 100@5000! Just show around the area around the market price

* GLBSE1 order history in the account CSV?

* Pricing, P&L and sparklines in the portfolio

* Ability to transfer custody of GLBSE shares to another authority (signed messages? sharechain stored within the blockchain?)

* a GLBSE IPO to fund development!! Cheesy

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May 21, 2012, 04:59:50 AM
 #131

Some motion system improvements would definitely be nice.

I'd like to see at least a confirmation that I voted, and more general information there such as how many shares I held at the time of voting, etc.

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May 26, 2012, 10:39:22 AM
 #132

(sorry, posted in wrong thread, will delete there)

Nefario, I'm happy to see you used bootstrap. It makes the site so much more nice, thanks for that.

However, I still have a suggestion for the order book on the asset pages:



I would really like to see my own orders on the asset page, maybe included in the public orderbook like seen in this image (first and last columns are volumes of my orders)

I usually go to each assets page to see what's been happening. Next I have to back to the portfolio (main) page and look at both my "Buy Orders" and "Sell Orders", locate visually the orders I have and then go back again (keeping in MIND my own orders) to the assets page to make a decision on placing new orders.

That's a bit cumbersome. How cool would it be to have a table like above example that show me my own orders (first and last columns) within the public order book of the asset?

code used to produce above image: http://pastebin.com/ssfyfaje (html), http://pastebin.com/TTMBA74K (css)

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Daily Anarchist
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May 26, 2012, 02:53:31 PM
 #133

Another security feature that would help those of us without smartphones would be nice.

Consider allowing users to put in a permanent withdrawal address in our account, and any time it gets changed an email is sent to the email address on file asking for confirmation. Also, make it so that changing one's email address on file sends a notification email to the old email address and takes 24 hours to go into effect. This would prevent someone who phished your account from logging in and withdrawing all of your assets in one fell swoop.

Also, allow users to opt out of asset transfers.

Worst case scenario if these are implemented is that someone could phish your account and buy/sell assets at ridiculous prices. But even then there is little incentive to do that unless the account hacked is a real monster, and the shares affected have some benefit to the hacker.

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June 02, 2012, 07:04:41 PM
 #134

I have a request for the Public API.

ex. https://glbse.com/api/asset/HEDGE

When doing HTTP GET URL /api/asset/TICKER on an asset that does not have any trade data nothing is returned.  It would be nice if all the values (latest_trade, quantity, ect) were set to 0 until there are trades.

Introducing constraints to the economy only serves to limit what can be economical.
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June 03, 2012, 11:15:29 AM
 #135

I think it would be very useful especially for the listed company's to have separate wallets on your account to make accounting easier.  Like a wallet for saving up for expansion, a wallet for dividends and a wallet for buying back shares ect....

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June 03, 2012, 02:03:48 PM
 #136

I disagree on the different wallets - GLBSE is a fundraising/stock exchange platform, not an accounting system. Do proper accounting by yourself, use offline wallets and keep the minimal possible amount of BTC on any external site (like GLBSE) to be safe.

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June 03, 2012, 02:09:14 PM
 #137

I disagree on the different wallets - GLBSE is a fundraising/stock exchange platform, not an accounting system. Do proper accounting by yourself, use offline wallets and keep the minimal possible amount of BTC on any external site (like GLBSE) to be safe.

I don't want to pay all the transactions fees plus all the funds in all the wallets would be going to be used on the GLBSE.

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June 03, 2012, 03:07:57 PM
 #138

Transaction fees? Seriously? Also you can do accounting if you just keep the money on GLBSE in 1 place. In the end you suggest that GLBSE adds an internal accounting system that could never even remotely compete with a proper one, but might lead to a lot of GLBSE hobbyist projects neglecting proper accounting practices because they anyways have set up an "expansion account" on GLBSE.

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June 03, 2012, 03:10:36 PM
 #139

Transaction fees? Seriously? Also you can do accounting if you just keep the money on GLBSE in 1 place. In the end you suggest that GLBSE adds an internal accounting system that could never even remotely compete with a proper one, but might lead to a lot of GLBSE hobbyist projects neglecting proper accounting practices because they anyways have set up an "expansion account" on GLBSE.

Whatever I want more wallets that's my request you don't run the GLBSE and you don't run a GLBSE listed company so its no use to you.

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June 03, 2012, 03:17:33 PM
 #140

Transaction fees? Seriously? Also you can do accounting if you just keep the money on GLBSE in 1 place. In the end you suggest that GLBSE adds an internal accounting system that could never even remotely compete with a proper one, but might lead to a lot of GLBSE hobbyist projects neglecting proper accounting practices because they anyways have set up an "expansion account" on GLBSE.

Whatever I want more wallets that's my request you don't run the GLBSE and you don't run a GLBSE listed company so its no use to you.

And it's not really the transaction fees its about not making unneeded transactions as all the funds are going to be used on the GLBSE in the short term. 

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