Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 504. (Read 3917531 times)

Is  there anybody do some simple mathematics about total dividend we can expect in 2014 ?

+1

The current setup for a lot of investors is:

Asicminer -> TAT (centralized, requires trust) -> Havelock (centralized, requires trust) -> Investor


With Counterparty the setup would look like this:

Asicminer -> Counterparty (de-centralized, trustless, open-source) -> Investor


TAT really does sound like he's afraid Asicminer will list on a decentralized exchange like Counterparty and eliminate the middle-men (TAT, Havelock)

https://i.imgur.com/W8Go0ko.png

Why not just embrace the newer, better system?  Centralized exchanges have been a massive problem for Crypto securities.

It is blockchain-based, therefore it comes with inconveniences not present in an off-chain exchange.

I do not know the current status of the project, nor whether it is active.

Lol what are you so butthurt about?

Your comment says something about who really needs to grow up.

I am here to have a serious discussion about this topic and if you cant handle someone having an opinion you don't agree with be you shouldn't be on a discussion board.

Do you disagree with my opinion that colored coins would make it extremely convenient to move shares to and from an exchange? I would love to hear your opinion as you are clearly a much more intellectual and mature "adult"

Interesting talk about decenteralized exchanges, you guys should check out NXT, The decenteralized exchange is already written and being tested at the moment, full network release on April, might start an ASICMINER-PT there or something

According to the leaked info (it they are true) in chinese forum, AM's exchange, although based on blockchain, is centralized and has severe flaws in the design.

For example, all the assets have to be assigned a buying address and a selling address, and these addresses are assigned by the central authority. Moreover, if you want to sell some shares at 100 BTC, you need to send 100+ BTC to the selling address and trust that address will send them back immediately. It also means you have to own 100 BTC first before you can sell you shares for 100 BTC.

Done. My bad to quote a donkey.

Wait a second... besides announcing that he was working on one, I have yet to see any details on any AM exchange system.  Although you feel it would not work, what is it that FC has in the works?  Is this board member information?  Or did I miss a post somewhere...

Also.. to ignore jimmothy, simply ignore him.  Stop quoting his posts, it gives him visibility to those who already have him on ignore like myself.

Yes, you are right. We still need to wait until it matures and passes more extensive tests.

No, TAT is running a pass through and his profit relies on the commission. Listing on a decentralized exchange removes any need for the middle man, so it just needs Friedcat and all the investors.

Your reasons (if any) seem not so convincing to me. Let's put general case aside, and just focus on AM shares. If AM is listed on a decentralized exchange such as Counterparty, is it helpful?

1) trust. We just need to trust a) the issurer (of course we trust) b) the protocol and the client (it's open source). No need to trust any buyer/seller or operator. The trades and dividends are all guaranteed by the protocol. There's no one running the exchange. The system is there as long as everyone has the client and BTC blockchain is there.

2) convenience. The issurer just issue an asset and put an initial order with IPO price, then sending dividend is just one command. For existing stocks like AM, just transfer shares to existing holders with a simple script. No need to keep all the holder list, it's embedded in the blockchain and will never be lost.

3) latency. Yes, you may need 10 minutes to match an order and waiting longer to confirm. That's acceptable to most investors, even day traders. How many people flip more than once per hour?

At last, as a main fund manager, telling others to just hold bitcoins seems interesting. If everyone just holds the bitcoin, there will be no stocks, funds, and bonds. What's the difference between burning some bitcoin to get some shares of a decentralized exchange and sending some BTC to you to get some shares of certain stocks?

The future will be free of trusted escrow services,
Chris Odom describes how it will work
http://www.youtube.com/watch?v=teNzIFu5L70

Nobody cares about your opinion. You have proven to be not to be taken seriously many times. Please leave this thread for the adults, kiddo.

I agree that for trading purposes something like colored coins would be a huge hassle and require escrow.

But it would be extremely useful if we could send shares to and from an exchange with ease just like withdrawing bitcoins.

Wow. Sb. with brains and balls to speak up. Thanks TAT. Made my day.

yup, fair enough, i hear you sir

and what about holding our AM shares?

In case any of you missed it in my old rants, I don't actually believe decentralized exchanges are a good thing. Even AM's own exchange, which they began creating last year, has many inconveniences, and, is ultimately centralized anyway.

I don't even believe decentralized exchanges are sustainable in any way that provides valuable purpose. Most amount to moving trust from one place to another, or breaking trust into a few parts. Trust is always required, efficiency is always required, resources are always required. These things all converge as order in chaos. That order is centralization.

I'm not a part of the "decentralize everything!" parade, but I do believe in the concept of "empires to ashes". Eventually a thing becomes so central and powerful it collapses, whether it be by its own lack of agility, or by a paradigm shift. For many people, Bitcoin is the first time they experienced a paradigm shift in a very long time. It's exciting to have your world rocked, but Bitcoin is not a casting call for paradigm-shifters. Way too many people think we now have the power to break apart anything we can get our hands on, and turn into little pieces that somehow work better. Decentralization is not your hammer, and stock exchanges are not your nail.

I can appreciate people trying new things, but an economy is more than protocol, sorry. I'm not saying the theory of a Colored Coin exchange is impossible, I'm saying the usefulness of it is. Any fruits of Colored Coin, Master Coin, etc, will do nothing more than appear decentralized in concept, and behave centralized in practice.

Even Bitcoin itself only thrives through where it is efficiently "centralized": mining pools, exchanges, venture capital, this forum, etc, etc, etc.

Having to trust 3 people instead of 1 is not decentralization. Having to trust that system instead of this one, is not decentralization. Do you REALLY want every business under the sun "IPO"ing? Is every random business truly qualified to run its own security? So what if you can trust the decentralized exchange, none of the issuers will be easy to trust, now will they? How do you trust what you are buying and whom you buy it from?

If you really want to mitigate trust issues in this world, why aren't you all fighting to get people to use a/the Web of Trust (http://bitcoin-otc.com/trust.php)? Why are people finding ways to pervert bitcoin with burns, when they should be making a decentralized web of trust that is more friendly and easy to use? Doesn't anyone realize how big "digital identity" will be going forward?

We don't need more tinkering with reinventing Bitcoin, we need an agile identity/trust service. Think about it. Sure we have the current WoT, sure we have +Trust in this forum. But the WoT is not easy to use for beginners, nor is it a convenient means of auth/trust for online services. And, the forum's +Trust feature is much too centralized, weak, and narrow in focus.

Finally, everyone, please don't be an idiot and go "burning" coins, or locking them into some silly meta protocol forever. Anyone that's been around for more than a couple months should know by now to just hold onto your damn bitcoins. That's all you have to do.

I am for colored coins as well.

Did you read this bit?

Counterparty Announcement

The code being released here is alpha-quality and under heavy development. Expect to encounter major bugs, including loss of funds. (Please report them when you do!)

The Counterparty protocol has not yet been finalized! You may lose your money if it changes!

This is true.  It would be awesome to see an Asicminer-direct-share-backed asset issued on Counterparty.

Maybe ThickasThieves would be up for the task?

This would be the first "Bitcoin blue chip" asset on a decentralized exchange.  One small step for TAT, one giant leap for Bitcoin securities.