I am trying to get market moving so I bought 1 BitGOLD and sent it to Bter. Need advise with a price please.
 At first my price was 5.867 BTC for one BitGOLD 5.867 BTC x $ 217 = $ 1273.13 which is approx. what I paid for it BTS 125796 x 0.010134 = $1274.81.

Message  received from Bter:

Please confirm SELL order:
Price:   5.86700000
Volume:   1.000 BIT
Warning:   Your SELL price is 98.8% LOWER than the average market price, please double check it.

If anybody knows what I am doing wrong please advise. 
Aloha 
Edit: Or should I buy some more of CFSGOLD 

5.87ish is the correct price of bitgold/btc. Bter is just being weird because the current orders are so strange. The cryptohedge gold hedgebot will be ready tonight or tomorrow, and will slowly begin to populate the order book, but the more the merrier!

I think we should consider making standardized 4 character monikers for all bitassets.

so like BUSD, BCNY, BGLD, BOIL, BSLV. It's useful for exchanges and coinmarketcap.

Quote from: Rune on February 05, 2015, 03:26:31 pm

It's not yet possible to deposit bitgold

I'm able to deposit bitgold now!
You can see my sell order

Ah, you have to go through the trading page to deposit! I couldn't figure that out.

For anyone else who wants to deposit bitgold you can go directly with this link: https://bter.com/myaccount/deposit/BITGLD

Quote from: Rune on February 05, 2015, 01:00:14 pm

I really see no advantage in getting them to accept BTS from a user POW.

lol .. hilarious 

lol... I've gotten so used to writing that damn abbreviation. I also get confused when people angrily post "You proof of stake!!"

So i assume that you're going take the official price of gold from NY and London (which we know is rigged). Alternatively, will you do what bytemaster suggests and go 5% above the official price to reflect the real physical price? China is also opening an exchange that may take over from NY/London.

I like the idea though. What sort of annual return would you be expecting your customers to receive?

We will go with whatever price bitgold has. I imagine that in the future when bitgold is better established, delegates will begin to monitor its peg to physical gold directly rather than going gold -> usd -> cny -> bts. So if there ever is a paper decoupling bitgold should not be affected if bitshares is properly established.

It's really hard to say what the expected return per CFSGOLD will be. At first it will be close to zero and the value of holding CFSGOLD will be the CFSCOIN sharedrop. Our target will be to make about 0.3% of pure earnings after fees (if any) and after hedging/arbitrage per trade. So if we have 200k USD volume per day, we will earn 18k USD per month of which 12600 will be distributed to CFSGOLD holders in the form of increased NAV. The question is how much bitgold is required to accomodate 200k volume, and ultimately what's the volume generated per bitgold? There's also some other concerns and even conflicts of interest, because CFSGOLD holders will want the volume per bitgold maximized (which means reducing bitgold supplies and thus CFSGOLD), and CFSCOIN holders will want absolute volume maximized (maximizing bitgold and CFSGOLD supply at the cost of volume per bitgold).

Once we are actually trading it will be possible for us to begin doing analysis on these things and figure out what the best way to deal with it is.

Valentine is working on getting the shapeshift API in the full node, afaik.

You could copy theirs to make it as simple as possible to also just add metaexchange through the same calls.

https://shapeshift.io/api.html

It would be sweet if the you say to the wallet you want to, say, send bitBTC as BTC, and then the wallet automatically gets the rates from every gateway you have indicated you trust through "gateway.com/rate/bitbtc_btc", and then returns those that support it in an ordered list with price and send limits.

Perhaps in the long run its better to have the rate and limit requests be combined, because when markets are efficient every bridge will be able to offer to exchange any amount, but the spread will increase as you need to send a bigger amount.

Hello everyone

I tried to explain a little bit about Cryptohedge in this post: https://bitsharestalk.org/index.php?topic=13999.0
Unfortunately my Chinese isn't good enough to be able to actually explain properly what this new DAC is and what it does.

So, we're looking for a member of the Chinese community who speaks decent English to work as our community manager. We will be paying you in CFSCOIN, the shares of our DAC. Initially CFSCOIN will not be liquid and can be considered vested shares. Later on, as Cryptohedge grows, we will begin to run bots that buy and burn CFSCOIN with up to 30% of the income earned from market making with CFS assets such as CFSGOLD. This will make CFSCOIN liquid and valuable, and you will be able to turn it into a real salary. You can read more about CFSCOIN here: https://bitsharestalk.org/index.php?topic=14020.0 and you can read more about Cryptohedge here: https://bitsharestalk.org/index.php?topic=13904.0

These are the tasks you will be doing:

- help shape the overall message of our investor and community communications

- effectively communicate about the new financial products of Cryptohedge, both to the Chinese BitShares community and also the Chinese bitcoin community (as we will have products aimed at them as well, such as CFSBTC).

- translate the DAC documents, such as business case and CFSGOLD prospectus to Chinese

- help with writing/translating the Chinese version of our website

Additionally, we might also want you to do some other tasks:

- communicate with Chinese exchanges that we have market making discounts with.

- help reaching out to new exchanges that would benefit from integrating BitAssets

- understand and gather together information about UIA's issued by members of the Chinese community, as we plan to have a periodic newsletter regarding the various UIA's that are trading on BTS. We will also need help with translating this newsletter into Chinese.

If you are interested in this position, please send me a PM.

Quote from: Rune on February 04, 2015, 10:05:02 pm

Quote from: wesphily on February 04, 2015, 09:53:55 pm

Quote from: Rune on February 04, 2015, 09:48:44 pm

Quote from: wesphily on February 04, 2015, 09:35:34 pm

"(since most people understand that a coin does not confer any legal rights or responsibilities)."

This is not a true statement. Crypto currency is considered property. People have the right of ownership which is a legal right It is also a tax liability which is a responsibility
You also need to be very careful with the words you use. If ownership of a coin is supposed to represent ownership in a company similar to a share/security then it will be treated legally that way implicitly. Doesn't matter if there is a document or not. Really, it is worse if you don't have documents because a malicisous person could utilize this fact to black mail you.

All of this is assuming that CFS is a legal entity. (LLC/s-corp/c-corp/ect...) If it only exists in crypto technology and not on a document then I'm not sure how it will be treated since it isn't a legal company. I got road blocked on this when trying to utilize bitshares for Real Estate. A crypto company does not have the ability to own real property. (real property = real estate) There is too much red tape for a small timer like me to use bitshares for a legal company that can own real property.

I'm glad to get some input on this.

Cryptohedge is a DAC and will only ever exist on the bitshares blockchain and owning CFSCOIN does not give you anything other than owning CFSCOIN. For now, CFSCOIN is backed purely by the reputation of Riverhead and me (i.e. it will have value to people who believe we are going to do with it what we have said we plan to do with it).

My vision for how it will end up in its final decentralized "true DAC state" is where the only way it can interface with the real world is through contract-free compensation of employees (delegate style), and reputation based custodianship of client funds. The idea is to create a web of trust that starts out with me and riverhead and expands to include more employees, and could eventually potentially include trusted anonymous employees (trustable, yet untargetable by LE). The DAC should ultimately be 100% controlled by voting done by CFSCOIN holders, and the counterparty exposure that CFSGOLD and other assets get should be moved from Riverhead and me onto the CFSCOIN voters as a whole (through voting controlled smart contracts somehow ).

You are safe for now. If bitshares fulfills what it says it wants to then this will change. You'll have to adapt. I would not be surprised if the SEC considered the act of holding shares and having decision making power makes the property a security and the investors limited partners. Although it would not be a documented company it could be seen legally as acting like one which would put it in SEC court.

Again, you are probably safe for now, BUT I would advise that you save back for a good lawyer.

Yeah, I agree that it's pretty certain that I, personally, will be targeted for illegal fundraising eventually, no matter how much I insist on it being "contract free" or "just a coin". But that will only happen if BTS gets big enough to get noticed and in that case I should be able to afford whatever fine I'm given

The most important thing is that people who buy our UIA's should not be at any risk of getting their funds seized if me or someone else gets targeted.

It'd be more than a fine. Do you have a good lawyer already?

I have, but I have not done any legal consulting regarding issuing cryptocurrency tokens (and doubt I would get much out of it). I think you are assuming I live in the US. Luckily my jurisdiction is Denmark, where laws on finance and especially cryptocurrency are much more lenient. We don't even have to pay any taxes on any cryptocurrency gains! (and taxes are insane in denmark otherwise). Also we have a partially state owned bitcoin exchange