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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914573 times)
xris
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June 20, 2013, 02:40:39 PM
 #7941

Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

I like my direct shares.
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John (John K.)
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June 20, 2013, 02:57:42 PM
 #7942

Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...

That's true. Friedcat was burned last time GLBSE imploded - I'm sure that there's still coins owed by Nefario with him.
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June 20, 2013, 03:00:29 PM
 #7943

Nefario

We don't mention his name here. That is a 5k btc taboo

Will take me a while to climb up again, But where is a will, there is a way...
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June 20, 2013, 03:03:10 PM
 #7944

Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
Or may be he could set-up a exchange by hims self that only sell and buy direct shares ,let the system helps him transfer it.

I have no ideal some one bought one direct shares and ask him to transfer, I think this just ridiculous and will really bother him
He need to focus on some big issue ,rather than dealing with those bothering transaction.
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June 20, 2013, 03:04:20 PM
 #7945

Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
Or may be he could set-up a exchange by hims self that only sell and buy direct shares ,let the system helps him transfer it.

I have no ideal some one bought one direct shares and ask him to transfer, I think this just ridiculous and will really bother him
He need to focus on some big issue ,rather than dealing with those bothering transaction.

The idea is in the air, it should come one day.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
SOSLOVE868
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June 20, 2013, 03:04:47 PM
 #7946

Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
I think if the asset is issued by FC ,than it will be same as direct shares since you do not rely on any third persons.
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June 20, 2013, 03:06:35 PM
 #7947

That's true. Friedcat was burned last time GLBSE imploded - I'm sure that there's still coins owed by Nefario with him.

So that's where the "fried" comes from.
Good thing cats have more than one life.
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June 20, 2013, 03:09:51 PM
 #7948

Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
I think if the asset is issued by FC ,than it will be same as direct shares since you do not rely on any third persons.

It would also be open to hackers and attackers.  Some people feel safer knowing that Friedcat has a list of shareholders in a cold, dark and unreachable place that's not even connected to the internet.  If you want your shares to be on an online exchange, there are already options to buy those type of shares.  

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June 20, 2013, 03:21:02 PM
 #7949

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

Will take me a while to climb up again, But where is a will, there is a way...
ianp
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June 20, 2013, 03:29:09 PM
 #7950

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

Get the backing of some big-time shareholders and go for it. Also offer escrow service.
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June 20, 2013, 03:39:26 PM
 #7951

Do you suggest I go for it or it would be wasted effort?
Wasted effort.

We wouldn't know for sure which transactions were completed, unless I'm missing something. I'd much rather sales are done in the open forum.

EDIT: create the exchange for friedcat instead (if he's interested)? Sounds like you have the skills.
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June 20, 2013, 03:46:17 PM
 #7952

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

I suggest you do it if noone else is planning the same. Is a similar market place on asicminer to-do list?
ThickAsThieves
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June 20, 2013, 03:53:50 PM
 #7953

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

I suggest you do it if noone else is planning the same. Is a similar market place on asicminer to-do list?

Don't bother, I will buy ALL TEH SHAREZ eventually!  Cool
lophie
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June 20, 2013, 04:00:07 PM
 #7954

Do you suggest I go for it or it would be wasted effort?
Wasted effort.

We wouldn't know for sure which transactions were completed, unless I'm missing something. I'd much rather sales are done in the open forum.

EDIT: create the exchange for friedcat instead (if he's interested)? Sounds like you have the skills.

This can be solved but I am awake for 72 hours now and can't really think straight to suggest a solution now.

Many here and hopefully myself could create such exchange but I wanted if not a full solution to at least provide something that would reduce redundancy and repetitions in the process. Imagine instead of friedcat going through several pms to verify and execute exchanges he could just create a script for that.

I mean for example for verification he is often asked "Please verify that address X owns Y number of shares", That would return true or false. For exchange what happens all the time is  the owner sends friedcat a signed message from his address with text "Please move x number of shares from this address to y address which is owned by this user ID", He verifies the signature and complete the transfer, and sends a pm confirming that to the buyer.

All this could be automated, I can do it, Just seeking your advice oh good people if I should do this or enjoy spending my dividends lying on a beach somewhere in the philippines Smiley, I assure you that for the kind of geek I am, Both are quite the satisfying feelings

Will take me a while to climb up again, But where is a will, there is a way...
lophie
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June 20, 2013, 04:01:20 PM
 #7955

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

I suggest you do it if noone else is planning the same. Is a similar market place on asicminer to-do list?

Don't bother, I will buy ALL TEH SHAREZ eventually!  Cool

You will never take mine alive!!!!!! (Unless you would take them for 12BTC each  Roll Eyes)

Will take me a while to climb up again, But where is a will, there is a way...
empoweoqwj
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June 20, 2013, 04:02:34 PM
 #7956

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

I suggest you do it if noone else is planning the same. Is a similar market place on asicminer to-do list?

I think ASICMINER did have it one their to-do list, but they have more important things to do.

To be honest, I think the current system works pretty well, a choice of buying direct shares at auctions here or pass-through shares at btco etc.  A dedicated exchange isn't really necessary. It would be nice, but not necessary.
lophie
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June 20, 2013, 04:14:02 PM
 #7957

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

I suggest you do it if noone else is planning the same. Is a similar market place on asicminer to-do list?

I think ASICMINER did have it one their to-do list, but they have more important things to do.

To be honest, I think the current system works pretty well, a choice of buying direct shares at auctions here or pass-through shares at btco etc.  A dedicated exchange isn't really necessary. It would be nice, but not necessary.

I think I confused here a bit my friend. It is not a dedicated exchange and more like a public orderbook where it would be programmed to automatically verify the validity of ASKS as well as BIDS and a few other features. But the actual exchanging would be through friedcat. The benefit here is a cleaner solution and a more organized and easy to deal with stream of transaction requests for friedcat

Will take me a while to climb up again, But where is a will, there is a way...
davecoin
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June 20, 2013, 04:14:39 PM
 #7958

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

It's been done, more or less (just not a separate website).

https://bitcointalk.org/index.php?topic=148282.0
lophie
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June 20, 2013, 04:36:15 PM
 #7959

Ok I am too tired and I really hope it makes sense. I will try to briefly explain how this should work and why it would make things easier.

No logins and no drama

Public information that the scripts would use:
TxID of latest dividends, List of output addresses and amounts, BTC per share on the last div

Viewing the orderbook:
   well.... you VIEW the orderbook!

Making an ASK:
   Straight forward. Form asking for: Number of shares, Price per share, AddressOfShares, Signed randomly generated message. If message
   signature verifies and available number of shares are checked (Automatically deduced from public info) , ASK if posted (to be verified), Otherwise ignored

Verification of valid asks by friedcat:
   Since the orderbook is public, A script can fetch the current asks, verifies them and send the site a signed message with the (verified) ASKS (The address signing this can be another address that friedcat declares official for himself other than wallet address for security purposes)

Cancelling an ASK:
   Again straight forward. User picks an ASK, selects "Cancel ASK request", signs a randomly generated string with the ASK address. Verified are deleted, non-verified signatures are ignored  

Making a bid:
  On each profile here there is a "Bitcoin address" associated with the account. So a bidder would fill: forumuserID, Number of shares, buying at price. And signs a randomly generated text using his profile associated BTC address. Scripts fetch the address and verifies the message, post the Bid, otherwise ignores

Cancelling a Bid:
  Tired of repetitions, Basically same as cancelling an ASK

Again I am so very not on my best shape and cognitive abilities right now. Will make sure this makes any sense when I wake up. (if ever the coffee effect would go away and I would get to have some sleep :S)

Will take me a while to climb up again, But where is a will, there is a way...
twentyseventy
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June 20, 2013, 04:39:09 PM
 #7960

Everyone ignore that hashrate! The dividend was less than last week... that means the shares are overpriced!! SELL SELL SELL!

(I didn't snag enough below BTC2.8 )
Yap, sell sell sell, so I can buy at lower price.

Whistles
Buy Buy Buy so I can sell them really high like 0.32 (0.032 is just too low for this one xd)
Then sell sell sell, so I can buy at lower price  Wink

Go hashrate go!


You're playing a dangerous game... you don't want to sell at even an historically high price the day before friedcat makes one of his earth-shattering announcements.   Wink

Is friendcat (I know the first guy made a typo with the 'n', but I'm sticking with it) making an announcement tomorrow? Or is that just an overall suggestion?
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