Author Topic: First post: Hello world,Hello ME  (Read 8711 times)

0 Members and 1 Guest are viewing this topic.

Offline jwiz168

  • Sr. Member
  • ****
  • Posts: 409
    • View Profile
I will be using it to sell consulting time. I doubt anyone will buy it, but I'll selling it =P

wow just like a doctor. consultation fee.  I might as well sell my ideas here  8)

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2486
    • View Profile
My guess: shares exist as balances just like with BTC. To issue all 1m shares costs a small tx fee. To send your 1m to 1m different addresses costs... how much does it cost to do that with bitcoin? When would you ever even do that?

So shareholders only profit from tx fees?

up

Offline jwiz168

  • Sr. Member
  • ****
  • Posts: 409
    • View Profile
I understand what is your position.  :)

Offline Stan

  • Hero Member
  • *****
  • Posts: 2908
  • You need to think BIGGER, Pinky...
    • View Profile
    • Cryptonomex
  • BitShares: Stan
So when will be the snapshot take place for this particular DAC? any timeframe?

We have learned it is always bad to give any time estimates since it somehow turns into a promise in some people's minds.

In any event, it is up to the five teams of developers who will be having a friendly competition called "Don't Be Last!"

 :)
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline jwiz168

  • Sr. Member
  • ****
  • Posts: 409
    • View Profile
So when will be the snapshot take place for this particular DAC? any timeframe?

Offline biophil

  • Hero Member
  • *****
  • Posts: 880
  • Professor of Computer Science
    • View Profile
    • My Academic Website
  • BitShares: biophil
How expensive would it be to issue my IOU shares?
When my noodle stand company is worth 1 million USD and I issue 1 million NS-Shares each at 1 USD with BTS ME. How much would I roughly have to pay? What are the costs specifically?

You can do this right now on Counterparty and it would cost you about $20-$30 in issuance fees. I think in the long-run Counterparty is planning to set up some kind of dynamic, variable issuance fees.

In Bitshares-land, there could be a prediction market for issuance fees. I expect BitShares Me fees to be relatively low and dynamic. The network experiences almost no cost to create an asset [citation needed], so the only reason to have any issuance fees at all is to discourage squatting. I wouldn't be surprised if issuing shares on BitShares Me looks a lot like registering a domain name on BitShares DNS.
Support our research efforts to improve BitAsset price-pegging! Vote for worker 1.14.204 "201907-uccs-research-project."

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2486
    • View Profile
My guess: shares exist as balances just like with BTC. To issue all 1m shares costs a small tx fee. To send your 1m to 1m different addresses costs... how much does it cost to do that with bitcoin? When would you ever even do that?

So shareholders only profit from tx fees?

Offline toast

  • Hero Member
  • *****
  • Posts: 4001
    • View Profile
  • BitShares: nikolai
My guess: shares exist as balances just like with BTC. To issue all 1m shares costs a small tx fee. To send your 1m to 1m different addresses costs... how much does it cost to do that with bitcoin? When would you ever even do that?
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline santaclause102

  • Hero Member
  • *****
  • Posts: 2486
    • View Profile
How expensive would it be to issue my IOU shares?
When my noodle stand company is worth 1 million USD and I issue 1 million NS-Shares each at 1 USD with BTS ME. How much would I roughly have to pay? What are the costs specifically?

Offline phoenix

  • Sr. Member
  • ****
  • Posts: 275
    • View Profile
The big use for this that I see is selling stock in a company. This would make issuing stock much easier for smaller businesses, allowing them to generate capital through crypto-currencies with minimal difficulty

And, if not stock, then debt.  A zero-coupon bond is a promise to pay X units of currency on a given future date. The market determines the price, and the return is calculated from the other three variables.

Crowd-funding is about to get a whole lot easier  8)
Protoshares: Pg5EhSZEXHFjdFUzpxJbm91UtA54iUuDvt
Bitmessage: BM-NBrGi2V3BZ8REnJM7FPxUjjkQp7V5D28

Offline CWEvans

  • Full Member
  • ***
  • Posts: 183
    • View Profile
The big use for this that I see is selling stock in a company. This would make issuing stock much easier for smaller businesses, allowing them to generate capital through crypto-currencies with minimal difficulty

And, if not stock, then debt.  A zero-coupon bond is a promise to pay X units of currency on a given future date. The market determines the price, and the return is calculated from the other three variables.

Offline phoenix

  • Sr. Member
  • ****
  • Posts: 275
    • View Profile
The big use for this that I see is selling stock in a company. This would make issuing stock much easier for smaller businesses, allowing them to generate capital through crypto-currencies with minimal difficulty
Protoshares: Pg5EhSZEXHFjdFUzpxJbm91UtA54iUuDvt
Bitmessage: BM-NBrGi2V3BZ8REnJM7FPxUjjkQp7V5D28

Offline luckybit

  • Hero Member
  • *****
  • Posts: 2921
    • View Profile
  • BitShares: Luckybit
You just issue IOUs. It's just an asset backed by a promise, just like mastercoin or counterparty. You can have it mean whatever you want.

Suppose I issued an IOU and someone bought it, but I don't fulfill my promise (scam in other words). What happen next (to me and to buyer)? My IOU value drop to zero?

But how a buyer can "buy" my IOU? with XTS? or with BitsharesME shares?


Your IOU should be backed by collateral. Put some Bitshares in escrow which track the value of each purchase. If the escrow isn't big enough then you shouldn't be able to issue IOU's to people who don't want to deal with anyone not backed by collateral.

You can do IOU without collateral but if you have collateral then even if you are a scam you don't get to keep our money, we get our money back at any time by redeeming the IOU for what is held in escrow.

https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline toast

  • Hero Member
  • *****
  • Posts: 4001
    • View Profile
  • BitShares: nikolai
You just issue IOUs. It's just an asset backed by a promise, just like mastercoin or counterparty. You can have it mean whatever you want.

Suppose I issued an IOU and someone bought it, but I don't fulfill my promise (scam in other words). What happen next (to me and to buyer)? My IOU value drop to zero?

But how a buyer can "buy" my IOU? with XTS? or with BitsharesME shares?

It's up to you, the customer, and the public to resolve un-honored IOUs. You could also theoretically do something really fancy like have a piece of hardware that requires ownership of the asset on Me to work, so then your asset could effectively be traded as a title for that piece of hardware.

Buyers buy the asset on the exchange within Me, using other Me assets or the core Me asset (XME?)
Do not use this post as information for making any important decisions. The only agreements I ever make are informal and non-binding. Take the same precautions as when dealing with a compromised account, scammer, sockpuppet, etc.

Offline ffwong

  • Full Member
  • ***
  • Posts: 76
    • View Profile
  • BitShares: fftt
You just issue IOUs. It's just an asset backed by a promise, just like mastercoin or counterparty. You can have it mean whatever you want.

Suppose I issued an IOU and someone bought it, but I don't fulfill my promise (scam in other words). What happen next (to me and to buyer)? My IOU value drop to zero?

But how a buyer can "buy" my IOU? with XTS? or with BitsharesME shares?



Cast me some votes. I am running:
- dragonball for Bitshares 2.0 net
- delegate.fftt for PTS (DPOS) net