Topic: ChromaWallet (colored coins): issue and trade private currencies/stocks/bonds/.. - page 19. (Read 96893 times)
March 11, 2013, 05:11:19 AM
Crap. I really didn't anticipate that they can just change rules like that and nobody cares.
March 11, 2013, 04:47:48 AM
This might affect colored coins:
https://bitcointalksearch.org/topic/blocking-the-creation-of-outputs-that-dont-make-economic-sense-to-spend-151329 [Blocking the creation of outputs that don't make economic sense to spend]
https://bitcointalksearch.org/topic/blocking-the-creation-of-outputs-that-dont-make-economic-sense-to-spend-151329 [Blocking the creation of outputs that don't make economic sense to spend]
March 10, 2013, 07:25:55 PM
However, recently a different thing came to my mind: namecoin can be used simply to associate a public key with some name, while colored coins will exist on Bitcoin chain. In theory it is possible to verify this association without downloading whole namecoin blockchain.
If this is true, namecoin can be used to register ticker, colordef and whatnot, but we'll still trade on bitcoin chain.
I think that would be cool, but it's fairly complex software-wise.
If this is true, namecoin can be used to register ticker, colordef and whatnot, but we'll still trade on bitcoin chain.
I think that would be cool, but it's fairly complex software-wise.
Yes, namecoin can perfectly be used to "certify" color definitions. I fear you would need the whole chain after the output that gives the issuer the ownership of the name-key, to be sure it hasn't moved.
But haven't really thought much about it from the requirements point of view.
March 08, 2013, 11:00:03 PM
awesome. thanks
March 08, 2013, 08:54:33 PM
did you ever consider namecoin based colored coins? namecoin has it's issues but it might make an interesting combination. a connection to the real world.
Yes, considered this combination, but I don't see where it can be really useful (i.e. interest in it), and I don't have resources to implement things at random.
However, recently a different thing came to my mind: namecoin can be used simply to associate a public key with some name, while colored coins will exist on Bitcoin chain. In theory it is possible to verify this association without downloading whole namecoin blockchain.
If this is true, namecoin can be used to register ticker, colordef and whatnot, but we'll still trade on bitcoin chain.
I think that would be cool, but it's fairly complex software-wise.
March 08, 2013, 08:47:14 PM
@killerstorm i've been working on bitcoinjs for a while now with the specific intention of making it compatible with colored coins. i'm actually heading up to ny this weekend to start testing with some buddies of mine to see how this will be applied in a real-world environment.
Have you seen "the best way to implement coloring on a server" discussion on bitcoinX mailing list? It might be relevant to what you're doing.
I've reposted it here: http://wiki.bitcoinx.org/index.php/ServerImplementationDiscussion
Also "development priorities" thread is kinda relevant too.
the thing is that i'd really like to see a colored coin spec (not sample code) that "completely and clearly" explains how it all works.
Coloring itself is described here: https://github.com/bitcoinx/colored-coin-tools/blob/master/colors.md
It isn't a complete spec, but I think it's good enough for the start...
It doesn't cover color definitions, but I'd say code which "does" color definition IS the spec for now: https://github.com/bitcoinx/colored-coin-tools/blob/master/colordefs.py
p2ptrade protocol isn't documented anywhere, but general overview was posted several times on bitcoinX mailing list, I can dig it up if you want.
i'm working on completing my own spec at the moment and will be happy to share it with you when its done. however, it is specific to my purposes (which will be used mainly in a "controlled" environment) and i'd really like to make it 100% compatible with what may become the "official" colored coin standard.
Well, you can either send me your spec for review, or outline parts which you think might be problematic and we will try to improve specs.
March 08, 2013, 08:23:39 PM
@killerstorm i've been working on bitcoinjs for a while now with the specific intention of making it compatible with colored coins. i'm actually heading up to ny this weekend to start testing with some buddies of mine to see how this will be applied in a real-world environment.
the thing is that i'd really like to see a colored coin spec (not sample code) that "completely and clearly" explains how it all works. does this exists (i haven't seen anything on bitcoinx)? i'm working on completing my own spec at the moment and will be happy to share it with you when its done. however, it is specific to my purposes (which will be used mainly in a "controlled" environment) and i'd really like to make it 100% compatible with what may become the "official" colored coin standard.
fyi - my project (a bitcoinjs fork) is called bitcoindb and will be open-sourced on github when its done.
the thing is that i'd really like to see a colored coin spec (not sample code) that "completely and clearly" explains how it all works. does this exists (i haven't seen anything on bitcoinx)? i'm working on completing my own spec at the moment and will be happy to share it with you when its done. however, it is specific to my purposes (which will be used mainly in a "controlled" environment) and i'd really like to make it 100% compatible with what may become the "official" colored coin standard.
fyi - my project (a bitcoinjs fork) is called bitcoindb and will be open-sourced on github when its done.
March 08, 2013, 06:48:32 AM
Note that ArmoryX development is sort of discontinued, we are currently focusing on thin clients.
There might be maintenance release if there is demand for it.
There might be maintenance release if there is demand for it.
March 08, 2013, 06:47:31 AM
This is p2ptrade GUI: http://i.imgur.com/qPaXcpS.png
The rest is fairly boring: combo which selects current color (after you select one you can see balance and send them as usual), and a menu to issue new coins/view existing definitions/download new ones.
The rest is fairly boring: combo which selects current color (after you select one you can see balance and send them as usual), and a menu to issue new coins/view existing definitions/download new ones.
March 08, 2013, 05:17:25 AM
are there screenshots that show what it can do currently?
February 18, 2013, 06:05:49 PM
There is a 200 BTC bounty to build a light client that can read and send colored coins, is anyone looking into it ?
February 11, 2013, 04:20:35 PM
I think a separate blockchain would serve the distributed stock exchange idea better. Wrote a thread about it to alternate cryptocurrencies:
This was proposed many times, I even provided links to some of such proposal in the first post of this thread: https://bitcointalksearch.org/topic/rfc-distributed-bitcoin-stock-exchange-dbse-54033 , https://bitcointalksearch.org/topic/on-a-decentralized-bitcoin-based-stock-market-52494 , https://bitcointalksearch.org/topic/idea-arbitrary-bonds-fiat-gold-options-shares-votes-via-cryptocurrency-66868
Quote
However, I find the colored bitcoins concept not very smart way to do it, mostly because bitcoin isn't meant for this kind of trade.
If you'll think more about this, you'll see that colored bitcoins is actually a smart way to do this:
- it's possible to implement all desired features
- it is automatically as secure as bitcoin, there is no need for any mining just for colored coins
- most importantly: you can buy and sell things for Bitcoins
Quote
That said, a separate blockchain could be nice. But the problem is that it is hard to even make a list of features it should have.
If you'll lurk more you'll find ripplecoin proposal
did you ever consider namecoin based colored coins? namecoin has it's issues but it might make an interesting combination. a connection to the real world.If you'll lurk more you'll find ripplecoin proposal
February 11, 2013, 12:42:22 PM
No, all Transactions are in the blockchain, same as normal Bitcointransaction, but this colored bitcoins got an sticker Saying: 1/100000 of a company...so they may be more valuable than ordianry bitcoins
To be even more clear, the sticker property isn't actually built into bitcoin or the blockchain. The list of which bitcoins have the sticker and what the sticker means is created and maintained *outside* of bitcoin and by anyone, so it's entirely possible if you want to set up a secret currency between your trusted friends, then no-one outside of the group will even know that the currency exists, let alone who owns how much of it, or what it can be exchanged for. All that is maintained (that we care about) by the blockchain is who owns which coins.*it is actually a transaction input that gets the sticker, not a 'coin'. These can be traced through the blockchain, and this is what enables us to know where the sticker is at any point. So for stickers representing shares in a company, the company would be able to find out which bitcoin address to pay the dividends to.
February 11, 2013, 11:25:15 AM
No, all Transactions are in the blockchain, same as normal Bitcointransaction, but this colored bitcoins got an sticker Saying: 1/100000 of a company...so they may be more valuable than ordianry bitcoins
February 11, 2013, 06:58:52 AM
do i understand this concept at all:
1.. a bitcoin is set aside
2.. it is used as the basis for a number of micro-transactions
3.. said micro-transactions don't get recorded to the blockchain?
?
1.. a bitcoin is set aside
2.. it is used as the basis for a number of micro-transactions
3.. said micro-transactions don't get recorded to the blockchain?
?
February 03, 2013, 05:09:22 PM
I think a separate blockchain would serve the distributed stock exchange idea better. Wrote a thread about it to alternate cryptocurrencies:
This was proposed many times, I even provided links to some of such proposal in the first post of this thread: https://bitcointalksearch.org/topic/rfc-distributed-bitcoin-stock-exchange-dbse-54033 , https://bitcointalksearch.org/topic/on-a-decentralized-bitcoin-based-stock-market-52494 , https://bitcointalksearch.org/topic/idea-arbitrary-bonds-fiat-gold-options-shares-votes-via-cryptocurrency-66868
Quote
However, I find the colored bitcoins concept not very smart way to do it, mostly because bitcoin isn't meant for this kind of trade.
If you'll think more about this, you'll see that colored bitcoins is actually a smart way to do this:
- it's possible to implement all desired features
- it is automatically as secure as bitcoin, there is no need for any mining just for colored coins
- most importantly: you can buy and sell things for Bitcoins
That said, a separate blockchain could be nice. But the problem is that it is hard to even make a list of features it should have.
If you'll lurk more you'll find ripplecoin proposal
February 03, 2013, 02:52:17 PM
I think a separate blockchain would serve the distributed stock exchange idea better. Wrote a thread about it to alternate cryptocurrencies:
https://bitcointalksearch.org/topic/cryptocurrency-working-as-a-distributed-stock-exchange-140973
https://bitcointalksearch.org/topic/cryptocurrency-working-as-a-distributed-stock-exchange-140973
January 23, 2013, 05:02:16 AM
Killerstorm, I created a virtual asset with the specific purpose of sending 90% of the profits to you in order to facilitate continued development efforts and perhaps expand the colored coins project, let me know if this was ok, otherwise I will remove it from the list, also could you link to your public PGP key if you have one.
January 20, 2013, 04:29:33 PM
Zero-trust decentralized asset tracking and trading is an awesome idea, definitely in the spirit of Bitcoin itself.
Thank you Killestorm, Jeff Garzik, Meni, and anyone else contributing.
Thank you Killestorm, Jeff Garzik, Meni, and anyone else contributing.
January 20, 2013, 08:10:54 AM
I can't wait! It's more than a dream, and it will be a nightmare for someone else 
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