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Offline eagleeye

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In finance, a dark pool (also black pool) is a private forum for trading securities that is not openly available to the public. Liquidity on these markets is called dark pool liquidity.[1] The bulk of dark pool trades represent large trades by financial institutions that are offered away from public exchanges like the New York Stock Exchange and the NASDAQ, so that such trades remain confidential and outside the purview of the general investing public. The fragmentation of financial trading venues and electronic trading has allowed dark pools to be created, and they are normally accessed through crossing networks or directly among market participants via private contractual arrangements.  - http://en.wikipedia.org/wiki/Dark_liquidity

Go to the wikipedia link and keep reading to understand the full extent of what im talking about.

This should mean with the right legal process in place we can trade bitGOOG   (Google Shares)

Just because it says "...for insitutional investors" does not mean it has to be and it is completely done like that.  The main features of a dark pool, are secret and anonymously.
« Last Edit: September 08, 2014, 04:52:29 AM by eagleeye »

Offline jsidhu

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Re: What is Bitshares and the Platform - A Dark Pool - Are they illegal - No
« Reply #1 on: September 08, 2014, 04:14:41 AM »
Why did you create another thread for this when you already created one about the same topic? Can I kindly ask that you not create these topic seems like you are just bumping your post count more than anything.

Again I think you are misplacing terms of crypto technology with what the intentions of using a Dark pool are..

See https://bitsharestalk.org/index.php?topic=8553.new#new for original thread.
« Last Edit: September 08, 2014, 04:16:35 AM by jsidhu »
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Offline eagleeye

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Re: What is Bitshares and the Platform - A Dark Pool - Are they illegal - No
« Reply #2 on: September 08, 2014, 04:16:53 AM »
Why did you create another thread for this when you already created one about the same topic? Can I kindly ask that you not create these topic seems like you are just bumping your post count more than anything.

Again I think you are misplacing terms of crypto technology with what the intentions of using a Dark pool are..

Few people look into the Legal Section.  Im trying to get a discussion going with not just experienced members, but also newbie members who may have insights we have not covered.

Offline xeroc

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #3 on: September 08, 2014, 07:12:42 AM »
so you have a degree in laws? US-laws? EU laws? international law? or maybe chinese laws?
Not sure what you want to achieve here ..
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Offline eagleeye

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #4 on: September 08, 2014, 07:27:57 AM »
so you have a degree in laws? US-laws? EU laws? international law? or maybe chinese laws?
Not sure what you want to achieve here ..

Make sure the governments dont shut us down.  No I am not a lawyer but I was the top student in business law.  I dont want to have this shut down, no?  So we must hash out the terms so we dont get all wiped out. 

Offline xeroc

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #5 on: September 08, 2014, 07:38:56 AM »
I am pretty sure that DacSunLimited cleared out all legal issues before they launched the DAC .. haven't you read the EULA?
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Offline eagleeye

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #6 on: September 08, 2014, 08:42:20 AM »
I am pretty sure that DacSunLimited cleared out all legal issues before they launched the DAC .. haven't you read the EULA?

Link me please, ill read it.

Offline xeroc

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #7 on: September 08, 2014, 08:46:50 AM »
It's in the sources and you agreed to it when you first launched the GUI:
https://raw.githubusercontent.com/dacsunlimited/web_wallet/master/app/templates/licenseagreement.html
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Offline eagleeye

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #8 on: September 08, 2014, 09:11:53 AM »
It's in the sources and you agreed to it when you first launched the GUI:
https://raw.githubusercontent.com/dacsunlimited/web_wallet/master/app/templates/licenseagreement.html

Where do I find the BSD License? (In the ToS <p>1.3)

This is just a user agreement.  This does not specify the law of whether we are allowed to have bit_GOOGLE_shares.  Either we help write the laws in the future by being right/havingthe/truth or we get shut down.

Either we prepare now, or when the time comes, game over.

Offline gamey

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #9 on: September 08, 2014, 09:15:11 AM »
It's in the sources and you agreed to it when you first launched the GUI:
https://raw.githubusercontent.com/dacsunlimited/web_wallet/master/app/templates/licenseagreement.html

Where do I find the BSD License? (In the ToS <p>1.3)

This is just a user agreement.  This does not specify the law of whether we are allowed to have bit_GOOGLE_shares.  Either we help write the laws in the future by being right/havingthe/truth or we get shut down.

Either we prepare now, or when the time comes, game over.

So you really have no clue what this is all about ?
I speak for myself and only myself.

Offline cass

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #10 on: September 08, 2014, 10:32:32 AM »
I am pretty sure that DacSunLimited cleared out all legal issues before they launched the DAC .. haven't you read the EULA?

yup guess so :)
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Offline xeroc

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #11 on: September 08, 2014, 10:40:11 AM »
Quote from the EULA:
Quote
  <p>1.2. The Service is not for use by (i) individuals under 18 years of age, (ii)
  individuals under the legal age of majority in their jurisdiction and (iii) individuals
  accessing the Service from jurisdictions from which it is illegal to do so. DSL is not
  able to verify the legality of the Service in each jurisdiction and it is the User's
  responsibility to ensure that their use of the Service is lawful.</p>
I actually started reading it .. just in case someone starts blaming ...
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Offline wrzkll

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #12 on: September 08, 2014, 01:51:45 PM »
Dark Pools are not illegal but they are riddled with fraud...Moreover, bit assets are just a peg to real world assets which for all legal purposes, are all imaginary unlike Dark Pools which do hold real assets off market. By your argument, BitUSD might be already violating the "law" by tracking the price of the USD...   

Goldman Sachs's SIGMA X Dark Pool (Biggest and baddest of them all) was brought down by scandal and bad rep. http://online.wsj.com/news/articles/SB10001424052702304819004579490030481110264 (Or Google "Goldman Mulls Closing Dark Pool" to get through the pay wall).

I would sway away from associating Bit-Assets with Dark Pools because A)They are not B)The association brings more confusion and complexity to something that's already hard to understand as is.
 

 

Offline eagleeye

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #13 on: September 08, 2014, 05:46:34 PM »
It's in the sources and you agreed to it when you first launched the GUI:
https://raw.githubusercontent.com/dacsunlimited/web_wallet/master/app/templates/licenseagreement.html

Where do I find the BSD License? (In the ToS <p>1.3)

This is just a user agreement.  This does not specify the law of whether we are allowed to have bit_GOOGLE_shares.  Either we help write the laws in the future by being right/havingthe/truth or we get shut down.

Either we prepare now, or when the time comes, game over.

So you really have no clue what this is all about ?

what do you mean "this" about?  The Terms of service?

Offline eagleeye

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Re: Is Bitshares and the Platform? - A Dark Pool - Are they illegal - No
« Reply #14 on: September 08, 2014, 05:48:35 PM »
Dark Pools are not illegal but they are riddled with fraud...Moreover, bit assets are just a peg to real world assets which for all legal purposes, are all imaginary unlike Dark Pools which do hold real assets off market. By your argument, BitUSD might be already violating the "law" by tracking the price of the USD...   

Goldman Sachs's SIGMA X Dark Pool (Biggest and baddest of them all) was brought down by scandal and bad rep. http://online.wsj.com/news/articles/SB10001424052702304819004579490030481110264 (Or Google "Goldman Mulls Closing Dark Pool" to get through the pay wall).

I would sway away from associating Bit-Assets with Dark Pools because A)They are not B)The association brings more confusion and complexity to something that's already hard to understand as is.
 

 

I agree with possibly not associating them with Dark Pools.  But we need to find the legal definition of what we are doing, as cryptocurrency asset exchange is completely new.

On a different note Dark Pools can have derivatives and that is what I believe a bitAsset is.

 

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