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General Discussion / Re: 10,000 BTSX UP FOR GRABS: On what date do we pass Litecoin?
« on: August 24, 2014, 07:52:07 pm »
November 5, 2014, 11:00 AM GMT
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General Discussion / Re: Bitshares Me effectively from 28th Feb Snapshot?
« on: August 24, 2014, 01:21:43 pm »That's all I know of:
http://wiki.bitshares.org/index.php/BitShares_ME
Compare this part:
"Conversely, somebody with a great idea for how to monetize something could create incentive for people to buy his stock by promising to return a certain percentage of future profit back to shareholders, by purchasing back a certain percentage of the issued shares and destroying it." -- http://wiki.bitshares.org/index.php/BitShares_ME
With:
"Say for example Occulus Rift, the new 3d gaming hardware that was recently purchased by Facebook for 2 billion dollars, had crowd-funded itself on ME instead of Kickstarter. They could have issued shares in themselves, and kept a certain percentage of them, say fifty percent. Then people wanting to fund this project could buy these shares, causing the market price per share to increase. As the price increases the issuer of these shares now has the option to sell and acquire the startup funds he needed."
If I create my own ME shares then when people buy them, the value of the shares would belong to the owners. Only if I keep a percentage to myself or buy shares myself would I own any. The first quote seems to be built on trust, so that if the issuer becomes successful then he/she will buy a certain number of shares and destroy them, which will make the price per share go up. I like the trustless model in the second quote more, but then for it to be trustless BitShares ME needs to have a guaranteed way of making sure that the percentage of shares the issuer keeps can be publicly verified on the blockchain.
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General Discussion / Re: Bitshares Me effectively from 28th Feb Snapshot?
« on: August 24, 2014, 07:20:28 am »
I haven't found much information about BitShares ME. I found this:
"So what is this ME proto-DAC franchise? Why, its nothing less than dynamically user-defined shares in anything, and even full-scale do-it-yourself “IPOs”! Sell shares in yourself. Offer custom shares in anything! It doesn’t take much more skill than you need to make a designer pizza. Then trade your shares against all other shares on a free open market where you can trade anything for anything. " -- http://static.squarespace.com/static/51fb043ee4b0608e46483caf/t/532f76d9e4b0f59c297b79a3/1395619545023/News%20Letter%2006%20-%20March%202014.pdf
I like the idea. The ME shares would as I understand it be completely virtual, meaning that the value would only be stored on the blockchain. This prevents fraud. The biggest risk is government regulation, such as laws making such exchange illegal or so heavily regulated that only big players will be able to issue ME shares. Hopefully the virtual nature of ME will make it free from government regulations.
If a company would issue ME shares, then those shares would not have real connection to the company other than the brand. The ME shares would not like ordinary shares represent the actual company. And could therefore perhaps be free from government regulations.
"So what is this ME proto-DAC franchise? Why, its nothing less than dynamically user-defined shares in anything, and even full-scale do-it-yourself “IPOs”! Sell shares in yourself. Offer custom shares in anything! It doesn’t take much more skill than you need to make a designer pizza. Then trade your shares against all other shares on a free open market where you can trade anything for anything. " -- http://static.squarespace.com/static/51fb043ee4b0608e46483caf/t/532f76d9e4b0f59c297b79a3/1395619545023/News%20Letter%2006%20-%20March%202014.pdf
I like the idea. The ME shares would as I understand it be completely virtual, meaning that the value would only be stored on the blockchain. This prevents fraud. The biggest risk is government regulation, such as laws making such exchange illegal or so heavily regulated that only big players will be able to issue ME shares. Hopefully the virtual nature of ME will make it free from government regulations.
If a company would issue ME shares, then those shares would not have real connection to the company other than the brand. The ME shares would not like ordinary shares represent the actual company. And could therefore perhaps be free from government regulations.
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General Discussion / Re: Bitshares Me effectively from 28th Feb Snapshot?
« on: August 24, 2014, 05:22:16 am »
I don't know much about how it will work, but maybe Bitshares ME can use BTSX instead of having its own cryptocurrency. And then it could cost a tiny amount of BTSX to create new customized shares, to prevent spam. And the ME shares themselves could be traded and given a value in BTSX.
The names of the ME shares could be squatted on or what it's called when people just hoard names. To prevent this one solution is that ME shares must have a corresponding domain name, such as OrganicShares.org and only .com domain names would be given an ME name without the extension, so that for example TechnoTokens.com would have the ME name TechnoTokens without any dot extension.
When registering an ME name, then the website owner must put a public key in a URL such as domain.com/bitshares-me-authentication.txt.
People without any domain name at all can be given an extension -me to the name, such as JoeSmith-me, or the extension -shares or something like that.
The names of the ME shares could be squatted on or what it's called when people just hoard names. To prevent this one solution is that ME shares must have a corresponding domain name, such as OrganicShares.org and only .com domain names would be given an ME name without the extension, so that for example TechnoTokens.com would have the ME name TechnoTokens without any dot extension.
When registering an ME name, then the website owner must put a public key in a URL such as domain.com/bitshares-me-authentication.txt.
People without any domain name at all can be given an extension -me to the name, such as JoeSmith-me, or the extension -shares or something like that.
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General Discussion / Re: Bitshares Me effectively from 28th Feb Snapshot?
« on: August 23, 2014, 04:38:58 pm »
Bitshares ME is designed for average user-issued assets. The X chain will be geared toward major IPOs such as Overstock, Maidsafe, LTBcoin, etc and will charge a very high registration fee in an attempt to keep out spam from every one issuing their own personal IOU / IPO.
Is Bitshares ME still being developed? For example it could have a sharded blockchain, such as a distributed hash table of 100 separate blockchains (or even more) to deal with a huge number of customized shares.
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General Discussion / Re: Legal aspects of BitShares
« on: August 23, 2014, 10:18:38 am »
Oops. I see now that there is a child board called Legal. I looked for something like that but obviously missed it.
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General Discussion / Legal aspects of BitShares
« on: August 23, 2014, 09:02:44 am »
As I understand it, a certain amount of bitshares can represent say one U.S. dollar. Such bitshares are only related to the USD by people reaching a consensus. From a legal and regulatory perspective, are these kinds of bitshares separate from how ordinary money is regulated by governments? And what about legal regulations for dealing with company shares and stock markets? That's a heavily regulated area. Will bitshares be regulated in the same or similar way as ordinary shares in a company?
And even if the bitshares represent other things than money, will they be regulated by governments?
And even if the bitshares represent other things than money, will they be regulated by governments?
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General Discussion / Re: Demo Wallet Live
« on: August 23, 2014, 12:17:37 am »I've brought my wallet back up. I hopefully have taken care of the spammer. If I have to take it back down again, I would direct anyone neediing to register to sfinders wallet.
Thanks! I registered an account. I'm totally new to BitShares so now I need to learn how it works.
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