Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 951. (Read 3917058 times)

Is friendcat (I know the first guy made a typo with the 'n', but I'm sticking with it) making an announcement tomorrow? Or is that just an overall suggestion?

Ok I am too tired and I really hope it makes sense. I will try to briefly explain how this should work and why it would make things easier.


Public information that the scripts would use:
TxID of latest dividends, List of output addresses and amounts, BTC per share on the last div

Viewing the orderbook:
   well.... you VIEW the orderbook!

Making an ASK:
   Straight forward. Form asking for: Number of shares, Price per share, AddressOfShares, Signed randomly generated message. If message
   signature verifies and available number of shares are checked (Automatically deduced from public info) , ASK if posted (to be verified), Otherwise ignored

Verification of valid asks by friedcat:
   Since the orderbook is public, A script can fetch the current asks, verifies them and send the site a signed message with the (verified) ASKS (The address signing this can be another address that friedcat declares official for himself other than wallet address for security purposes)

Cancelling an ASK:
   Again straight forward. User picks an ASK, selects "Cancel ASK request", signs a randomly generated string with the ASK address. Verified are deleted, non-verified signatures are ignored  

Making a bid:
  On each profile here there is a "Bitcoin address" associated with the account. So a bidder would fill: forumuserID, Number of shares, buying at price. And signs a randomly generated text using his profile associated BTC address. Scripts fetch the address and verifies the message, post the Bid, otherwise ignores

Cancelling a Bid:
  Tired of repetitions, Basically same as cancelling an ASK

Again I am so very not on my best shape and cognitive abilities right now. Will make sure this makes any sense when I wake up. (if ever the coffee effect would go away and I would get to have some sleep :S)

It's been done, more or less (just not a separate website).

https://bitcointalksearch.org/topic/unified-asicminer-orderbook-148282

I think I confused here a bit my friend. It is not a dedicated exchange and more like a public orderbook where it would be programmed to automatically verify the validity of ASKS as well as BIDS and a few other features. But the actual exchanging would be through friedcat. The benefit here is a cleaner solution and a more organized and easy to deal with stream of transaction requests for friedcat

I think ASICMINER did have it one their to-do list, but they have more important things to do.

To be honest, I think the current system works pretty well, a choice of buying direct shares at auctions here or pass-through shares at btco etc.  A dedicated exchange isn't really necessary. It would be nice, but not necessary.

You will never take mine alive!!!!!! (Unless you would take them for 12BTC each  )

This can be solved but I am awake for 72 hours now and can't really think straight to suggest a solution now.

Many here and hopefully myself could create such exchange but I wanted if not a full solution to at least provide something that would reduce redundancy and repetitions in the process. Imagine instead of friedcat going through several pms to verify and execute exchanges he could just create a script for that.

I mean for example for verification he is often asked "Please verify that address X owns Y number of shares", That would return true or false. For exchange what happens all the time is  the owner sends friedcat a signed message from his address with text "Please move x number of shares from this address to y address which is owned by this user ID", He verifies the signature and complete the transfer, and sends a pm confirming that to the buyer.

All this could be automated, I can do it, Just seeking your advice oh good people if I should do this or enjoy spending my dividends lying on a beach somewhere in the philippines , I assure you that for the kind of geek I am, Both are quite the satisfying feelings

Don't bother, I will buy ALL TEH SHAREZ eventually! 

I suggest you do it if noone else is planning the same. Is a similar market place on asicminer to-do list?

Wasted effort.

We wouldn't know for sure which transactions were completed, unless I'm missing something. I'd much rather sales are done in the open forum.

EDIT: create the exchange for friedcat instead (if he's interested)? Sounds like you have the skills.

Get the backing of some big-time shareholders and go for it. Also offer escrow service.

I am seriously thinking of making a small website for an order book for direct shares that any user can post bid or ask. Of course the trades would be done via pms afterwards and through fried cat but I would spare the forums tons of new auctions and threads always containing the same old story, Numbers of shares to sell, Price, TXID to proof ownership, signed message.... I believe this would be helpful.

Do you suggest I go for it or it would be wasted effort?

It would also be open to hackers and attackers.  Some people feel safer knowing that Friedcat has a list of shareholders in a cold, dark and unreachable place that's not even connected to the internet.  If you want your shares to be on an online exchange, there are already options to buy those type of shares.  

So that's where the "fried" comes from.
Good thing cats have more than one life.

I think if the asset is issued by FC ,than it will be same as direct shares since you do not rely on any third persons.

The idea is in the air, it should come one day.

Or may be he could set-up a exchange by hims self that only sell and buy direct shares ,let the system helps him transfer it.

I have no ideal some one bought one direct shares and ask him to transfer, I think this just ridiculous and will really bother him
He need to focus on some big issue ,rather than dealing with those bothering transaction.

We don't mention his name here. That is a 5k btc taboo

That's true. Friedcat was burned last time GLBSE imploded - I'm sure that there's still coins owed by Nefario with him.

I like my direct shares.