Unobtanium In-House Exchange

[Benefactor]

Hedge001 and 002: Sirsmokes 18.0990 owed = 20 SENT

Hedge003/Repunza: 10  owed = 11 SENT

Hedge004/Bitcoin National: = 9.05 owed  = 10 SENT

---

Hi, Sirsmokesalot, Repunza, and BitcoinNational, please verify that you've received these funds, so I can return the Hedges project's Phase I 100 UNO 'Abundance of Caution' (insurance) to IMZ.

Thanks

[Benefactor]

@Verification:  If people show their phizz in images with them logged onto BCT.  

[wickedsick]

@Verification:  If people show their phizz in images with them logged onto BCT.  

this is a good idea

[BitcoinNational]

Hedge001 and 002: Sirsmokes 18.0990 owed = 20 SENT

Hedge003/Repunza: 10  owed = 11 SENT

Hedge004/Bitcoin National: = 9.05 owed  = 10 SENT

---

Hi, Sirsmokesalot, Repunza, and BitcoinNational, please verify that you've received these funds, so I can return the Hedges project's Phase I 100 UNO 'Abundance of Caution' (insurance) to IMZ.

Thanks

received

----
The Chapters

Southeast Asia - yeap
Australia - yeap
United States - yeap
Central America? don't know
Europe?  i think we have Germany and UK
Russia?  not sure
China?  not sure
-possible/potential territories-
Korea
Japan
India
South Africa
Brazil
Canada
West Africa
Central Africa
Taiwan
Scandivlands

---

"is a limit to how much a TT can hold, just how much the community is willing to allow him / her to hold"

All 'vault accounts' should be more less balanced, so if one 'vault' defaults the loss is not gonna sink the ship.  

more of a range than a fixed number

some might be given the honor of extra capacity due to demonstration
BitcoinCharlie for stars earned, Bene & Spaghetti for safe keeping others stock.  

Yes some formal audit system and limits need to be formulated and stated.

points system to allow expansion of inventory

[sirsmokesalot]

@ imz, received my uno, thanks!

Yeah, i am currently still waiting on my order fro, coaex to come through. It has been a month since i ordered and about 2 1/2 weeks since it shipped due to a lil delay that was rectified. To be fair to them, amagimetals has had a delay on two of my orders so far, about 2 weeks shipping after i order for each one. Only one of three shipped in a 2-3 day time period. I am wondering if that is the nature of these businesses while buying bullion as it allows them time to float money and what not. I was given a tracking number for coax and so far from what google translates it is inbound to the u.s if i am interpreting everything correctly. Amagi has delivered in the past so i am not doubting they will pull through.

I am located in North East Pennsylvania if that helps or hurts anyone. I don't mind shipping to Canada, i think we are close enough there where things don't generally take a long time, and it is Canada.

[IMZ]

One: “dvc can never be fully trusted as it is built by man and i trust no man completely.”

We aren’t aiming at perfection ‘cause there’s no such thing.

Rather, we weave threads of trust into a fabric. If a hole appears, we patch it. As we gather more threads, the fabric becomes larger. Regular fabric maintenance is undertaken.

Two: Sirsmokes offers a second vouch for Bitcoin Charlie!! Is this sufficient to ‘verify’ B.C.? He remains custodian of ten ounces of mine (from Hedges). That’s two vouches and a continuing custodianship.

Sufficient?

Three: “a dated item with your username in the photos from boromarket.com‘ Please explain this one to me, Sirsmokes. Another verification option!

Four: Sirsmokes: you should find (in red?) a public key . . . there somewhere. Publish it here.

(I am still learning a lot of this.) Then someone can send you coin. I will be here all weekend.

Five: How Much Silver?!

First Suggestion: 2 ounces ‘verified’ gets you one DVC. 4 ounces gets you 2. Maximum 2 DVC.

We’re aiming at 50 TT’s verified over time. Thus 100 DVC issued to ‘VTTs.’

And a fund of 20 held (ask for details) as ‘Specials’ -- ??

The asset we created has 500 coins, all presently in the (publicly visible) ‘Bursar’s Wallet.’ Should we destroy the 380?

I am not in charge.

m

[Benefactor]

@ imz, received my uno, thanks!

You mean the 20 UNO from Phase I Hedges project?

[IMZ]

Six: surely gold can be our ‘silver’?! It’s the verification that’s pivotal.

Seven: phizz for verification! Now you’re talkin’! Thanks, Benefactor.

Eight: Bitcoin Charlie’s Post 522 shows he’s getting’ the idea of how the goal is to connect a number of practices.

So, Uno will have a strong association with holding and trading bullion; and the amounts of bullion we’re verifying here will sorta be ‘woven into’ those larger holdings.

Nine: B.N. – can you find that public key?

And your Post 527 is spot on!!! Ask me about ‘Nodes.’

A caution though: volume is the goal here. I would baulk at issuing more than two DVC to anyone (though we have 20 ‘Special’ DVC to discuss).

The idea is that everyone has a couple, and we trade them hard and fast on a constant basis. Velocity is the goal. DVC truly are a toy with sharp corners!!

Think of Btc’s movements in recent weeks. We all sat on our butts ‘cause there was no volume, and Uno is (wonderfully) stable. But DVC would have hammered up and down in ‘within its band.’ Swings of 30% in a day!

And any minute now someone is gonna post, ‘And I’ve figured out why! DVC takes its cue for price from a source other than Uno’s fiat price! So they will – fantastically – be effective hedges against each other . . . but overall a highly stable trading-pair!’

m

[sirsmokesalot]

@ imz, received my uno, thanks!

You mean the 20 UNO from Phase I Hedges project?

Correct

[sirsmokesalot]

One: “dvc can never be fully trusted as it is built by man and i trust no man completely.”

We aren’t aiming at perfection ‘cause there’s no such thing.

Rather, we weave threads of trust into a fabric. If a hole appears, we patch it. As we gather more threads, the fabric becomes larger. Regular fabric maintenance is undertaken.

Two: Sirsmokes offers a second vouch for Bitcoin Charlie!! Is this sufficient to ‘verify’ B.C.? He remains custodian of ten ounces of mine (from Hedges). That’s two vouches and a continuing custodianship.

Sufficient?

Three: “a dated item with your username in the photos from boromarket.com‘ Please explain this one to me, Sirsmokes. Another verification option!

Four: Sirsmokes: you should find (in red?) a public key . . . there somewhere. Publish it here.

(I am still learning a lot of this.) Then someone can send you coin. I will be here all weekend.

Five: How Much Silver?!

First Suggestion: 2 ounces ‘verified’ gets you one DVC. 4 ounces gets you 2. Maximum 2 DVC.

We’re aiming at 50 TT’s verified over time. Thus 100 DVC issued to ‘VTTs.’

And a fund of 20 held (ask for details) as ‘Specials’ -- ??

The asset we created has 500 coins, all presently in the (publicly visible) ‘Bursar’s Wallet.’ Should we destroy the 380?

I am not in charge.

m

1: Trust is a moot point when there is a choice in participation. It is inherent that trust exist on some level if one is willing to participate. Much like me trusting that benefactor has all that silver. I don't need dna and finger prints or anything intense, i can just not play along if i felt there was something awry.

2: That works for me

3: It is what benefactor did. The only way he should really be able to take a photo of him logged in and silver in the photo is if it is a) really him and b) he has the silver. The combination of those two items along with his forum history here is enough to prove to me that he actually holds that silver, which is what the objective of this is. Which is why i think a handwritten note with your btc user name / photo of the silver in front of your monitor with your btc name, perhaps the date portion to the right, should be fine for proving if you actually have the silver.

4: f4176484cda31ef4a5bffc6e7e8f60b4c6ab9eac8c944da3aac2d5ed4c70786c

5: I think two Dvc at two ounces of silver each is a cool place to start.

To be the most fair once there seems to be solid agreement on the terms of everything, 1 dvc representing 2 ozs of silver and the rest should probably be destroyed.

Where does the uno fit into this?

[IMZ]

(a) 'Phizzification'!! Obvious solution.

(b) Bitcoin Charlie seems to have cleared the bar. Any dissent? Ian will be on deck on Monday to transfer the first DVC.

(c) help if you can with the Public Keys thing -- I just found yours, Sirsmokes. Nxt and Nxtty on its way.

And I am familiarising myself with the Nxt wallet. I suspect that when B.C. finds the 'Assets' box, he'll find 2500 Nxtty in there.

(d) Sirsmokes, ask Ian for his view on the 380 left-over coins. I agree with you.

Where Does The Uno Fit In?

Uno will remain the currency for all non-DVC activity here. I guess that 90%-plus of DVC trades will be Uno/DVC.

m

[IMZ]

@ SirSmokes: there should be 50 Nxt -- for transaction fees -- in your5 Nxt wallet by now. There should be 2,500 Nxttycoin. Experiment with these: they are in the same stable as DVC.

@ Bitcoin Charlie -- you may find 5,000 Nxtty in your wallet. I was practising.

@ Bitcoin National: got you Nxt wallet address. Can you find that pesky 'Public Key'?

m

[IMZ]

Un-Ex  22/11/2014 [Western Australia – a half a day ahead of the U.S.]

Price: 'solid': .0080/.0075

https://www.cryptsy.com/markets/view/133
https://bittrex.com/Market/Index?MarketName=BTC-UNO
https://bleutrade.com/exchange/UNO/BTC
https://coinbroker.io/trade/?symbol=UNO.BTC;

Trusted Traders:

# Wickedsick, two stars
# Mark (IMZ), two stars
# Edgar, two stars
# Falling Knife, one star
# Bitcoin Charlie, four stars
# Vector iso, one star
# Ian (IMZ), two stars
# Benefactor, two stars
# Layer1gfx, two stars
# Sirsmokesalot, two stars
# Philogus, three stars (big trade but)
# Korlic, one star
# Repunza, one star
# Martinw79, one star

Physical Bullion:

$US16.44. Up a tad again.

DVC 'basic': 11.618 Uno

Ask V500 about escrow.

[Repunza]

received... thanks. I own some silver bars and gold bars I bought them back in 2004...

[BitcoinCharlie]

@ SirSmokes: there should be 50 Nxt -- for transaction fees -- in your5 Nxt wallet by now. There should be 2,500 Nxttycoin. Experiment with these: they are in the same stable as DVC.

@ Bitcoin Charlie -- you may find 5,000 Nxtty in your wallet. I was practising.

@ Bitcoin National: got you Nxt wallet address. Can you find that pesky 'Public Key'?

m

I'm called out of town, so I'll have to check when I return. do you want me to send them back?

[IMZ]

Hey, Repunza! Ta for confirming that.

'Phizzification' -- tee hee. Can you post a photo of ($40 or $80) bullion with your User Name visible?

We should have the first DVC issued this week.

M

[IMZ]

Un-Ex  23/11/2014 [Western Australia – a half a day ahead of the U.S.]

Price: 'solid': .0076/.0069

https://www.cryptsy.com/markets/view/133
https://bittrex.com/Market/Index?MarketName=BTC-UNO
https://bleutrade.com/exchange/UNO/BTC
https://coinbroker.io/trade/?symbol=UNO.BTC;

Trusted Traders:

# Wickedsick, two stars
# Mark (IMZ), two stars
# Edgar, two stars
# Falling Knife, one star
# Bitcoin Charlie, four stars
# Vector iso, one star
# Ian (IMZ), two stars
# Benefactor, two stars
# Layer1gfx, two stars
# Sirsmokesalot, two stars
# Philogus, three stars (big trade but)
# Korlic, one star
# Repunza, one star
# Martinw79, one star

Physical Bullion:

$US16.44

DVC: 12.223 Uno

Ask V500 about escrow.

[IMZ]

@ Verification of Edgar: I thought his 'phizzzification' image doesn't show his User Name; but it does. I think it's sufficient verification. Any concerns?

@ Bitcoin Charlie: the 5000 Nxxty are from my stash for another project (unsurprisingly, Nxttycoin . . . ). But, guys: nxtty is a stablemate of DVC. The transfer process is exactly the same.

So, practise as you will. All assets are transferred to and fro on Nxt addresses: your Nxt address is your Nxtty and DVC address.

If we have no dissent, we'll label B.C. and Edgar 'Verified'; and issue them coin tomorrow. I have begun posting 'basic' daily DVC prices.

Don't start trading DVC, guys, until Bitcoin gets off its knees -- or the 'Hedge effect' wil go the wrong way.

Others are in the home straight to Verification. Woo hoo!

m

[Sabretooth]

@ Verification of Edgar: I thought his 'phizzzification' image doesn't show his User Name; but it does. I think it's sufficient verification. Any concerns?

@ Bitcoin Charlie: the 5000 Nxxty are from my stash for another project (unsurprisingly, Nxttycoin . . . ). But, guys: nxtty is a stablemate of DVC. The transfer process is exactly the same.

So, practise as you will. All assets are transferred to and fro on Nxt addresses: your Nxt address is your Nxtty and DVC address.

If we have no dissent, we'll label B.C. and Edgar 'Verified'; and issue them coin tomorrow. I have begun posting 'basic' daily DVC prices.

Don't start trading DVC, guys, until Bitcoin gets off its knees -- or the 'Hedge effect' wil go the wrong way.

Others are in the home straight to Verification. Woo hoo!

m

Are you looking for more people to get involved in DVCs.  I have bullion in secured storage.  Can you provide some links to give me a run down on what it involves.  I would most likely be happy to be involved.

[IMZ]

Yes, Sabretooth.  We would be thrilled to have you involved. We hope to have fifty DVC traders in the long term.

Here's brief background, and I shall post some explanatory texts.

One: we set up Un-Ex, this in-house exchange. It will eventually be home base for a lot of cool stuff.

Two: we started a 'Trusted Traders' system: one- to five-star ratings. It's a hoop we make you jump through. Once you're a TT, you can trade at will.

Three: we theorised and began the 'Hedges Project.' Hedges were a non-cryptographic 'coin' that existed on a Register. Each represented two oz of silver. The benefit is that the price of Hedges and the prices of Uno and Btc go 'in different directions' because they are 'anchored' in different commodities.

Four: events prompted us to jump to the cryptographic stage. The theory is exactly the same -- and I shall give you all the help you need to understand it. The coin -- the cryptographic form of the Hedges -- exists. It's an Nxt asset called 'Distributed-Vault Coin.' It will be unique: 'underpinned' by bullion held in small quantities by a community of 'verified TTs' -- the 'distributed vault.' It will only ever be traded on Un-Ex. The only trading-pair will be Uno/DVC. And an amazing combination of volatile and stable.

Five: we make you jump through one more hoop, 'verification,' to go from being just a TT to being a DVC trader. One way to verify -- probably the best -- is to post a photo of your two or four ounces of silver (or equivalent) up against a computer screen that shows you logged in here as 'Sabretooth.' (You likely understand this better than I do!).

Six: once verified, you get either one or two DVC: two oz gets you one; four oz gets you two. There will probably only ever be one hundred or one twenty coins in circulation, and all back by Verified TT's bullion. No more than two issued per TT.

So, to get started, try a trade here, something like: 'Sabretooth 001 I will pay X Btc for ten Uno.' I will make sure it is successful.

If it all seems a bit like wanky Boy Scout nonsense, it's not. This community is uniquely coherent, and these projects are gonna give us a 'home base' from which we will be able to achieve far far more than most communities. You could sell a thousand Uno here without knocking the Cryptsy market down a single point, and all that coin would go into the hands of known community members.

What other community has that sort of vision and discipline?

Mark (IndiaMikeZulu), Australia