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Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 951. (Read 3917568 times)

hero member
Activity: 924
Merit: 1003
Unlimited Free Crypto
Do you suggest I go for it or it would be wasted effort?
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.

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 Smiley, I assure you that for the kind of geek I am, Both are quite the satisfying feelings
hero member
Activity: 518
Merit: 500
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?

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

Don't bother, I will buy ALL TEH SHAREZ eventually!  Cool
legendary
Activity: 1064
Merit: 1000
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?

I suggest you do it if noone else is planning the same. Is a similar market place on asicminer to-do list?
legendary
Activity: 1092
Merit: 1001
Touchdown
Do you suggest I go for it or it would be wasted effort?
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.
full member
Activity: 294
Merit: 100
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?

Get the backing of some big-time shareholders and go for it. Also offer escrow service.
hero member
Activity: 924
Merit: 1003
Unlimited Free Crypto
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?
sr. member
Activity: 392
Merit: 250
Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
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.

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.  
sr. member
Activity: 364
Merit: 250
That's true. Friedcat was burned last time GLBSE imploded - I'm sure that there's still coins owed by Nefario with him.

So that's where the "fried" comes from.
Good thing cats have more than one life.
sr. member
Activity: 378
Merit: 250
Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
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.
legendary
Activity: 1512
Merit: 1012
Still wild and free
Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
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.

The idea is in the air, it should come one day.
sr. member
Activity: 378
Merit: 250
Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
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.
hero member
Activity: 924
Merit: 1003
Unlimited Free Crypto
Nefario

We don't mention his name here. That is a 5k btc taboo
legendary
Activity: 1288
Merit: 1227
Away on an extended break
Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...

That's true. Friedcat was burned last time GLBSE imploded - I'm sure that there's still coins owed by Nefario with him.
newbie
Activity: 16
Merit: 0
Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

I like my direct shares.
sr. member
Activity: 392
Merit: 250
Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!

But if he did that, they would no longer be direct!  The point of the direct shares is to remove that 2nd layer of insecurity...
sr. member
Activity: 378
Merit: 250
Seriously suggesting FriedCat moving all direct share to a online exchange ,this will largely increase the liquidity and also release work for FriedCat!
hero member
Activity: 784
Merit: 501
With direct shares you only have to trust Friedcat.

With PT-shares you have to trust Friedcat, the owner(s) of the exchange and the owner of the PT.

You can sell your shares faster than you can sell direct shares plus you can day trade if that's your game.

So there are benefits despite there being more people you have to trust.
legendary
Activity: 1806
Merit: 1003
Less liquid but also less CP risk, and faster dividends. You can also store your ASICMINER shares in a brainwallet.

CP?

counterparty risk. In layman's terms, the risk of the guy holding your BTC running away with it

How risky is that on btct.co? Is the owner trustworthy?

The owner of btct.co(burnside) runs a medium sized real world hosting business (kattare.com), plus he has lots of good reputation here, so he's pretty reliable.
full member
Activity: 134
Merit: 100
How risky is that on btct.co? Is the owner trustworthy?

Yeah Burnside seems pretty trustworthy.

I've never had any issues with either btct or the asicminer-PT on there (which he runs).
sr. member
Activity: 476
Merit: 250
That's a sexy hash rate!

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