[ANN] Qora | Released 16 May | 100% POS | New Source - page 247.

dzarmush

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Activity: 1806

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Quote from: devphp on June 09, 2014, 06:36:18 AM

Dzarmush,

put your qora wallet in the description, or at least on that referenced website, so people can look up the balance on the blockchain. And send withdrawals from that wallet, so they can see you actually possess keys to that wallet address. This will build most of the trust.

Qora address will be in deposits info on the website.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: dzarmush on June 09, 2014, 06:34:42 AM

This person will have the best terms anyway coz he takes deposit/withdraw fee from everybody including buros. No matter how small are buros fees, it's still larger then the issuer fee. They might compite by offering some special service of course, like short deposit/withdraw time.

But I don't see why they can't start doing it after someone issued the asset. There's no need to gather lots of coins from lot of people right from the start.

I think I don't get what you mean by that.

All you need is to make sure you have enough qoras to process all redemptions. And you do it regularly and within specified time frame and with the specified commission fees. The market will take care of the rest

Agestorzrxx

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Activity: 462

Merit: 250

Quote from: peled1986 on June 09, 2014, 06:33:19 AM

Quote from: abctc on June 09, 2014, 01:08:12 AM

- if you need an exchange to trade your Qora's, you can use distributed Asset Exchange.
Some trustworthy member can create a Qora gateway, like bitcoin veteran Noitev has made his BTC gateway.
All trades at Asset Exchange are automatic, and trustless.

If I understand correctly Nxt AE is very similar to the way the ripple network works.
The Asset Exchange is automatic but the Qora gateway issuer is the "point of weakness" because he has to be trusted.

Trust some you barely known is much worse than trust a famous exchange.
That's why using NXT AE is a bad idea.
The one who Provide the gateway may run away with your money.
No one is really can be trust only if we know him, I mean his name, phone, address. but not someone who keeps anonymous

devphp

sr. member

Activity: 336

Merit: 260

Dzarmush,

put your qora wallet in the description, or at least on that referenced website, so people can look up the balance on the blockchain. And send withdrawals from that wallet, so they can see you actually possess keys to that wallet address. This will build most of the trust.

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: devphp on June 09, 2014, 06:28:13 AM

Quote from: dzarmush on June 09, 2014, 06:23:35 AM

Still there's only one person ownes issuing account. It means all deposits goes through this person.

Yes, and I don't see any problem with that. Trusting one person is no harder than trusting a group of people (company, organization). In fact, I prefer to trust an individual. If there are a few competing individuals with their exchange buros, that's only good.

This person will have the best terms anyway coz he takes deposit/withdraw fee from everybody including buros. No matter how small are buros fees, it's still larger then the issuer fee. They might compite by offering some special service of course, like short deposit/withdraw time.

But I don't see why they can't start doing it after someone issued the asset. There's no need to gather lots of coins from lot of people right from the start.

peled1986

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Activity: 882

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Quote from: abctc on June 09, 2014, 01:08:12 AM

- if you need an exchange to trade your Qora's, you can use distributed Asset Exchange.
Some trustworthy member can create a Qora gateway, like bitcoin veteran Noitev has made his BTC gateway.
All trades at Asset Exchange are automatic, and trustless.

If I understand correctly Nxt AE is very similar to the way the ripple network works.
The Asset Exchange is automatic but the Qora gateway issuer is the "point of weakness" because he has to be trusted.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: dzarmush on June 09, 2014, 06:27:46 AM

How about?

"Every of 100 million QORA-I units represents one Qora coin. To withdraw, send your assets to NXT-XXXX-XXXX-XXXX-XXXX and add your Qora address to the comment field. For deposits and other information including current fee, minimum redeemable amounta and maximum redemption time go to xxxxx.org. Remember that asset names are not unique. Always check the issuer and asset ID."

Sure, why not. If you might wish to change redemption rules down the road and publish updated rules on a website, that's fine. Then put the website address in the description. As long as people have all the information on how to proceed, that's all that matters.

Hint: be sure to specify on the website at least a few days in advance that your redemption rules will be changed on xx.xx.xx date.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: dzarmush on June 09, 2014, 06:23:35 AM

Still there's only one person ownes issuing account. It means all deposits goes through this person.

Yes, and I don't see any problem with that. Trusting one person is no harder than trusting a group of people (company, organization). In fact, I prefer to trust an individual. If there are a few competing individuals with their exchange buros, that's only good.

dzarmush

legendary

Activity: 1806

Merit: 1001

How about?

"Every of 100 million QORA-I units represents one Qora coin. To withdraw, send your assets to NXT-XXXX-XXXX-XXXX-XXXX and add your Qora address to the comment field. For deposits and other information including current fee, minimum redeemable amount and maximum redemption time go to xxxxx.org. Remember that asset names are not unique. Always check the issuer and asset ID."

devphp

sr. member

Activity: 336

Merit: 260

Quote from: dzarmush on June 09, 2014, 06:18:42 AM

Isn't it the same scheme I described? Except 2nd point. But since I own the amount of Qora I'm issuing the asset why woudn't I set selling orders.

abctc talks about two-way exchanges and charging a fee for it.

You can start with a one-way exchange for now by issuing tokens against your qoras and selling them. You can buy them too at the same exchange, nobody can stop you from that

dzarmush

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Activity: 1806

Merit: 1001

Quote from: Agestorzrxx on June 09, 2014, 06:22:02 AM

It's absolute a bad idea to use NXT AE.
People sell qora for btc not NXT.
The price of NXT has been overvalued.

No one forces you to trade Qora for Nxt. It's a free market.

dzarmush

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Activity: 1806

Merit: 1001

Quote from: devphp on June 09, 2014, 06:12:06 AM

Quote from: Vrontis on June 09, 2014, 06:07:09 AM

Just a question regarding the asset.

If it made by one person, one qora coins holder, then, when the supply of qoras fulfilled by the users who bought the assets the qoras distribution will stop from the asset issuers.
Should you take a further action in order to request from qora holders to get involved with their coins.
The steps in this scenario are :
1.Create a qora account where you will collect the qoras from all of the involved holders (placing a deadline).
2.Issue the asset
3.Sell assets
4.Exchange nxt to qoras.
5.Distribute nxts to qora holders that they have been involved.

By doing that you will supply more qoras IMO.
You can start by announce it at here and OTC xchg with a deadline, so, in case qora holders want to get involved it will bring a bigger supply to the asset exchange.

Thanks

Every Qora holder can be their own small or big exchange buro on the NXT AE. Someone has to be the first one. All the asset issuers can compete on the exchange rates just like exchange buros compete on them. The first one who starts gets the first mover advantage. Of course, as long as he keeps his obligations. The market will decide the winners. That's capitalism at its best and an interesting experiment, since there are no regulations of any sorts. All you need is trust from users.

Still there's only one person ownes issuing account. It means all deposits goes through this person.

Agestorzrxx

sr. member

Activity: 462

Merit: 250

It's absolute a bad idea to use NXT AE.
People sell qora for btc not NXT.
The price of NXT has been overvalued.

dzarmush

legendary

Activity: 1806

Merit: 1001

Quote from: abctc on June 09, 2014, 06:04:22 AM

Quote from: dzarmush on June 09, 2014, 05:14:07 AM

Let's think this through.
1. I release QORA asset: 10'000'000 units that represent 100'000'000 Qora coins.
2. I set all units on sale at the price I'm comfortable with ...

- it seems you misunderstood the gateway-owner role.

Isn't it the same scheme I described? Except 2nd point. But since I own the amount of Qora I'm issuing the asset why woudn't I set selling orders.

Vrontis

sr. member

Activity: 351

Merit: 250

Quote from: devphp on June 09, 2014, 06:12:06 AM

Quote from: Vrontis on June 09, 2014, 06:07:09 AM

Just a question regarding the asset.

If it made by one person, one qora coins holder, then, when the supply of qoras fulfilled by the users who bought the assets the qoras distribution will stop from the asset issuers.
Should you take a further action in order to request from qora holders to get involved with their coins.
The steps in this scenario are :
1.Create a qora account where you will collect the qoras from all of the involved holders (placing a deadline).
2.Issue the asset
3.Sell assets
4.Exchange nxt to qoras.
5.Distribute nxts to qora holders that they have been involved.

By doing that you will supply more qoras IMO.
You can start by announce it at here and OTC xchg with a deadline, so, in case qora holders want to get involved it will bring a bigger supply to the asset exchange.

Thanks

Every Qora holder can be their own small or big exchange buro on the NXT AE. Someone has to be the first one. All the asset issuers can compete on the exchange rates just like exchange buros compete on them. The first one who starts gets the first mover advantage. Of course, as long as he keeps his obligations. The market will decide the winners. That's capitalism at its best and an interesting experiment, since there are no regulations of any sorts. All you need is trust from users.

Yes, you are totally right about this, i agree.
Well, i might talking about a "Qora movement" into the NXT AE.

devphp

sr. member

Activity: 336

Merit: 260

Quote from: Vrontis on June 09, 2014, 06:07:09 AM

Just a question regarding the asset.

If it made by one person, one qora coins holder, then, when the supply of qoras fulfilled by the users who bought the assets the qoras distribution will stop from the asset issuers.
Should you take a further action in order to request from qora holders to get involved with their coins.
The steps in this scenario are :
1.Create a qora account where you will collect the qoras from all of the involved holders (placing a deadline).
2.Issue the asset
3.Sell assets
4.Exchange nxt to qoras.
5.Distribute nxts to qora holders that they have been involved.

By doing that you will supply more qoras IMO.
You can start by announce it at here and OTC xchg with a deadline, so, in case qora holders want to get involved it will bring a bigger supply to the asset exchange.

Thanks

Every Qora holder can be their own small or big exchange buro on the NXT AE. Someone has to be the first one. All the asset issuers can compete on the exchange rates just like exchange buros compete on them. The first one who starts gets the first mover advantage. Of course, as long as he keeps his obligations. The market will decide the winners. That's capitalism at its best and an interesting experiment, since there are no regulations of any sorts. All you need is trust from users.

Vrontis

sr. member

Activity: 351

Merit: 250

Just a question regarding the asset.

If it made by one person, one qora coins holder, then, when the supply of qoras fulfilled by the users who bought the assets the qoras distribution will stop from the asset issuers.
Should you take a further action in order to request from qora holders to get involved with their coins.
The steps in this scenario are :
1.Create a qora account where you will collect the qoras from all of the involved holders (placing a deadline).
2.Issue the asset
3.Sell assets
4.Exchange nxt to qoras.
5.Distribute nxts to qora holders that they have been involved.

By doing that you will supply more qoras IMO.
You can start by announce it at here and OTC xchg with a deadline, so, in case qora holders want to get involved it will bring a bigger supply to the asset exchange.

Thanks

abctc

legendary

Activity: 1792

Merit: 1038

Quote from: dzarmush on June 09, 2014, 05:14:07 AM

Let's think this through.
1. I release QORA asset: 10'000'000 units that represent 100'000'000 Qora coins.
2. I set all units on sale at the price I'm comfortable with ...

- it seems you misunderstood the gateway-owner role.

May I remind the basic scheme:

1] dzarmush issues, say, 10'000'000 units of "dzQora" asset. Each asset equals 1000 Qora.
2] To get Qora-assets, someon sends any number of Qoras (at least 1000) to dzarmush's Qora address
Qasst9cNf43daLJrjD3FZBALUUyhqHqX........ with a message in the transaction that only contains your NXT address.
3] dzarmush receives Qoras (say, 1'000'000 Qoras), and transfers 990 dzQoras to that NXT address (1% comission).
4] The owner of 990 dzQoras trades them on Asset Exchange at the price of his choice..
5] The new owner of 990 dzQoras decides to convert them to real Qoras, and transfers 990 dzQoras to the issuers (dzarmush) NXT-account, and in the attached message puts Qora address.
6] dzarmush sends 990 * 1000 *0.99 = 980'100 Qoras (1% comissin) to that Qora address.

Quote from: dzarmush on June 09, 2014, 05:44:47 AM

Does anyone know similar assets to look at descriptions?

- https://docs.google.com/document/d/1FOKEtA6lZoLJBA74jYZQpFPFRt5pDhhBmixS9P-hGH4/edit

Djinou94

legendary

Activity: 1036

Merit: 1000

Quote from: flankliu on June 09, 2014, 12:20:09 AM

Quote from: dzarmush on May 06, 2014, 12:07:08 AM

First try. I've got no experience in ui design whatsoever, so it might be lame, but it's a start

love this design,could you use this design in the new wallet,qora.

Nice!!!

devphp

sr. member

Activity: 336

Merit: 260

Quote from: dzarmush on June 09, 2014, 05:44:47 AM

Does anyone know similar assets to look at descriptions?

It can be as easy as:

------------
Qora tokens (each asset token = 1 Qora currency unit), redeemable from Qora wallet address: heregoestheqorawalletaddresswiththebalancetheycanlookontheblockchain.

Redemption rules:
1) Transfer asset units to this NXT account (put your NXT account here), write your Qora wallet in the 'comments' section.
2) We charge a 0.5% fee for redemptions.
3) Minimum redeemable amount is 1000 Qoras. <- change this to any other amount you feel comfortable with.
4) Redemption times can vary, but will not exceed 24 hours. <- change the hours to what you think you can guarantee.
5) In case of emergency, please send us a message through your NXT client.
------------

Topic: [ANN] Qora | Released 16 May | 100% POS | New Source - page 247. (Read 748250 times)