Unobtanium In-House Exchange

[BitcoinCharlie]

BitcoinNational beat me to the underwriting principle, but I would have just used the unsophisticated term 'insurance'.

Another great idea with that trust chain model!  Good job!

I would also imagine that period of time over which a trader has traded in the group should be considered as well as volume and relationships. A person could arrive, conduct numerous trades in a short period of time and then possibly conduct a large trade and bug out shysting the other party?

[IMZ]

@ Benefactor: me bin thinkin' the same. Yes, lower rating = send first; and a home of our own? IndiaMikeZulu keeps a simplesimple website for projects like this. Has worked well in the past. Un-Ex

@ V500: the very essence of this project is to create a trust-community that will be benefited by being both active and trustworthy. We are under no obligation to extend this model one iota beyond what is optimally efficient for us. Let us draw overtly on anthropological data: greater involvement always equates to individual advantage (of some type, whether directly or indirectly. The political left was flat-out wrong about 'primitive communism.' Margaret Mead was a fool.) An anonymous-trades facility is a great idea!

@ Bitcoin National: I agree with you: although a (paid) escrow service will be used in certain cases, the basic idea of the trust-community is that it is its own 'escrow.' Thus, a benefit -- free 'escrow' -- for TTs.

@ Bitcoin Charlie: good point! So, number and types of trades, trading with a range of other TTs, and trading over a period of time. Yup -- 'hard won' status!!

[IMZ]

Un-Ex
12/9/2014 (Western Australia)

Price: 'solid': .0043/.0039

https://www.cryptsy.com/markets/view/133
https://bittrex.com/Market/Index?MarketName=BTC-UNO
https://www.mintpal.com/market/UNO/BTC

Trusted Traders:

# Wickedsick, two stars
# IndiaMikeZulu (Mark), one star
# Edgar, one star
# Falling Knife, one star
# Bitcoin Charlie, two stars
# Vector iso, one star
# Ian (IMZ), one star
# Benefactor, two stars
# Sirsmokesalot, one star -- but a big (bullion!) trade, two stars a-comin'

Physical Bullion in Australia:
looking keenly for Australians who want to buy bullion!

And here is BeneX

And ask V500 about his escrow service

[IanRidgwell]

This comes back to discussions I've had with mark regarding creation of our own in house coin.

Sure it might have some value but that is secondary.

We could use a blockchain to create a decentralized protocol by consensus traders legitimacy list.

It's not something I've seen out there already but surely it could be put into practice on Etherium, one of the NXT derivitives, mastercoin or a coloured coin.

[Benefactor]

This comes back to discussions I've had with mark regarding creation of our own in house coin.

Sure it might have some value but that is secondary.

We could use a blockchain to create a decentralized protocol by consensus traders legitimacy list.

It's not something I've seen out there already but surely it could be put into practice on Etherium, one of the NXT derivitives, mastercoin or a coloured coin.

Anyone:  can we write messages on the UNO rockchain using the latest wallets?  That might be useful in some of these more elaborate ideas.

I really don't like the idea of Unobtanium relying on other coins/BTC-2.0 types.  We should find solutions in the one coin we concentrate on, here.

[IanRidgwell]

Its important to remember the idea of an 'in house' trusted group of traders is to provide a simple community level trust system. Love big idea's looking outwards but the core of a community trust system should be community.

If we get ahead of ourselves we may end up inviting the kind of behaviour we hope to abolish. Also it's about community development not necessarily about making a buck on technical development, though nobody has a problem with making a buck I'm sure.

[IMZ]

Bingo, Benefactor!! (Ian has let a bit of the cat out of the bag.)

It is nearly a year since we wrote the white paper on Omega Coin, which would actually exist non-cryptographically for some time (on a simple website 'Register') before it was launched cryptographically -- and recall that we already have one such coin, the 'Krillion.' Wow! We have never revealed details:

Coin: 'Krillion' ('kongsi + bullion' -- look up the term 'kongsi'!)
Market-cap: $2,000 AU, consisting of only 8 'coins.'
Structure: non-cryptographic investment instrument (for fiat for development) purchased solely 'in-house' by IndiaMikeZulu followers here in Oz.
Backed 50/50 by Bitcoin and silver bullion (physically buried in the garden!)

It served its purpose perfectly, and we are 'unpacking' it as we speak.

m

[IanRidgwell]

Not wanting to besmirch Unobtanium, just that these 2.0 coins have those functions in mind from development. I don't see why Unobtanium could not have its own coloured coin feature. As mark has said, a simple pen and paper register kept by the trusted trader core would suffice.

As a technical person I find myself leaping to technical solutions, which could often just as easily be achieved with a pencil and a napkin.

[Benefactor]

I think we should just focus on a simpler Unobtanium and increase trade and networking.  More merchants is best; (I mean look at how stable UNO has been!  Why not?) Once a customer sends UNO for especially goods, it's just physical delivery after that.  No need for elaborate coding.  (We DO need to maintain steady buy support/investment to sustain this, as most merchants usually sell for fiat immediately.)

BTC-2.0 stuff is built for a billion-dollar industry, AFAIK.  What's our numbers?

-

I'm also seeing ramifications of dumping an exponentially-higher load on the developers.  "Keep it loose Dutch."

-

Let's maybe revisit these things when UNO is over 0.01 UNO/BTC (0.02?) and holds steady, and we have an even more robust trading network and more merchants.

Until then, my vote is to focus on simple strengths.

[IMZ]

@ Benefactor: please don't misunderstand me. I am here, and look set to remain here, exactly and precisely because of the Simple-Strengths Programme.

We love to kick ideas around, but we know which side our breads buttered on!

m

[IMZ]

Un-Ex
13/9/2014 (Western Australia)

Price: 'solid': .0044/.0039

https://www.cryptsy.com/markets/view/133
https://bittrex.com/Market/Index?MarketName=BTC-UNO
https://www.mintpal.com/market/UNO/BTC

Trusted Traders:

# Wickedsick, two stars
# IndiaMikeZulu (Mark), one star
# Edgar, one star
# Falling Knife, one star
# Bitcoin Charlie, two stars
# Vector iso, one star
# Ian (IMZ), one star
# Benefactor, two stars
# Sirsmokesalot, one star -- but a big (bullion!) trade, two stars a-comin'

Physical Bullion in Australia:

looking keenly for Australians who want to buy bullion!

And here is BeneX

And ask V500 about his escrow service

[layer1gfx]

hi,

i want my first star too

so, i'm selling:

50 UNO for 0.22 BTC (0.0044 BTC / UNO)

since i am still new here i am fine with sending first - preferably to a trusted 1*+ trader.

please PM if interested

this offer is still available.

updates about our successful trade will be made public.

[IMZ]

Go, Layer!! I gotta wait for my share of our 'buy' to come in -- but .22 is a fine trade.

[IMZ]

Un-Ex
14/9/2014 (Blossom falling like rain all around. Number One Emu quietly sitting eating wheat by the fig tree.)

Price: 'solid': .0043/.0040

https://www.cryptsy.com/markets/view/133
https://bittrex.com/Market/Index?MarketName=BTC-UNO
https://www.mintpal.com/market/UNO/BTC

Trusted Traders:

# Wickedsick, two stars
# IndiaMikeZulu (Mark), one star
# Edgar, one star
# Falling Knife, one star
# Bitcoin Charlie, two stars
# Vector iso, one star
# Ian (IMZ), one star
# Benefactor, two stars
# Sirsmokesalot, one star -- but a big (bullion!) trade, two stars a-comin'

Physical Bullion in Australia:

looking keenly for Australians who want to buy bullion!

And here is BeneX.

And ask V500 about his escrow service

[layer1gfx]

hi,

i want my first star too

so, i'm selling:

50 UNO for 0.22 BTC (0.0044 BTC / UNO)

since i am still new here i am fine with sending first - preferably to a trusted 1*+ trader.

please PM if interested

this offer is still available.

updates about our successful trade will be made public.

bump. still selling

[IanRidgwell]

Yeah I'll accept that trade.

@layer1gfx

50 UNO for 0.BTC22

ADDRESS::  uX2i9mGk4EkqYF22FxzzJq8qBcAY5MaoRN

[layer1gfx]

Yeah I'll accept that trade.

@layer1gfx

50 UNO for 0.BTC22

ADDRESS::  uX2i9mGk4EkqYF22FxzzJq8qBcAY5MaoRN

ok great let's use PM to continue.

[layer1gfx]

Yeah I'll accept that trade.

@layer1gfx

50 UNO for 0.BTC22

ADDRESS::  uX2i9mGk4EkqYF22FxzzJq8qBcAY5MaoRN

ok great let's use PM to continue.

sent.

[layer1gfx]

Yeah I'll accept that trade.

@layer1gfx

50 UNO for 0.BTC22

ADDRESS::  uX2i9mGk4EkqYF22FxzzJq8qBcAY5MaoRN

ok great let's use PM to continue.

sent.

0.22btc received.
great stuff.
+1 star for IanRidgwell !

[IanRidgwell]

I have received the UNO and Sent the Bitcoin, however no confirmations yet.

So Confirmation that Layer has sent his UNO.