Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 158. (Read 452290 times)

My dumb suggestion:

Start a private altcoin and premine 100%. "LRMcoin"  100,000 units, divisible by a factor to be set in the future (like 10 for example, to yield 1,000,000 fractions).

Assign LRMcoins to users in proportion to the # of bonds they hold then delete the bond concept.  Divs paid to each LRMcoin not held by LRM.  I don't exactly understand how coloured coins work, but my guess would be that a BTC address could be encoded into each LRMcoin, and changed as ownership changes.

Also of interest see https://bitsharestalk.org/index.php?topic=1310.0;all for some ideas.

Lets just wait for open-transactions/moneychanger (aka holy grail)

https://bitcointalksearch.org/topic/holy-grail-bounty-225954

Once OT is out there, the market will be as free as money/commodity is with Bitcoin.

Trading as i know but fully customisable (friends use it with customs stocks...)

Just some ideas 

Is that a trading platform or an exchange platform? Looks like a traders platform.

Maybe something based on Eclipse Trader ?

With custom stock (LRM) ?

http://sourceforge.net/projects/eclipsetrader/

Or if you have some money (they can provide developpers) ==>

http://www.m4platform.com/brokerage.aspx

Pretty well explain here : http://www.youtube.com/watch_popup?v=cyvaAiP9OtQ&vq=hd720

Very interesting at 7:10

I'll bet you it isn't as easy as it looks. My pseudo-code was incomplete. Also, there are issues I noted...and some I didn't... for example, a bad seller could click other sellers links to remove them from view on the market page. So, this system, as written, would rely on an honor system among buyers and sellers to not disrupt the harmony of the market.

Also, in either case, buyer or bad seller clicks a sell order, it would be risky to re-post a sell order. You never know if a buyer actually sent bitcoin. Sometimes it takes a while to show up on the blockchain.

I really hope you have a good deal with us because right now Dave put H-cards at insulting price...
I don't trust Bitfury anymore...they act like ASICminer.

Once they had theirs mines up, they now don't care about miners(=rivals).

I hope you have more Hardware seller alternative...

So basically what Orbir said, with some particularities, maybe a chat with you, a coder and couple of thinkers, I can assure you that this is only few hours to make it works, then maybe someone can make  a little css, this is not my strong.

edited

Can you quote the Orbit post you're referring to?

Woohoo!

Orbit that is the method I was looking into, I'm still verifying the legality of that before implementing it.

Vitruvio, I can't have an escrow wallet involved or it makes LRM a money transmitter.

I'm coder and was thinking to the simplest way to do that, and thought about a system in which the user was the btc address, address that LRM have with amount of shares owned. All can be public no login needed, a simple form to sell or buy, to sell a form with quantity, price and address, then the system genate a string with the operation, the same as we sign when operate with grnbrg, you must sign with your btc client and paste the signature, if signature is correct the operation is saved and this number of shares blocked (scrow).

I haven't thought too much the whole procedure, but must control how to add new users (addresses) , the buy offer procedure the same as sale, but how to control the payment? If the system is connected to a bitcoin client and wallet it can generate new addresses to receive the payment and then change the shares owner in system and retransfer the amount of sale to seller. If no btc client, maybe can monitorize blockchain to watch if seller's address receives an incoming transfer with same amount of sale (less secure).

To be simple you must buy or sell full offers, click a ask or bid and make the process, if you want to make a real stock exchange system with portions is more complicated.  

There is no such volume and market speed that you can't contact the seller to modify his amount of ask, or maybe you can make a bid and the seller delete his ask and click in your  bid.

This way is more anonymous and faster, no login, no mail account.

 Regards

Just wanted to clear things up... The 2 weeks of mining is not "funding the ASIC project" only a small portion of it is being used in such sense.  LRM is not funding this entire project, but a small percentage in return for HW at a far lower cost than is possible elsewhere.

The bulk of it is going toward a deal with BitFury that is in the works, and this is going to provide many many many multiples of the current in hand hashrate.

A simple automated script, hosted with LR's website could be made that isn't terribly complicated. One possible algorithm is to do this:

1. Website server receives seller messages from LR webpage (basic input text boxes that get submitted to server side script).
2. Script verifies messages from seller.
3. If verified, script verifies seller actually has bonds and sufficient quantity per some official copy of the ledger.
4. If verified, website market page is updated to reflect sellers quantity and ask price for market to see. *
5. Buyer see's price and clicks seller price. Immediately, that sell order is removed from the cue to avoid duplicate orders. Anyone subsequently clicking with a then stale webpage will simply get no record found.
6. Buyer is presented input options and submits message to purchase (including wallet address which the verified message depends upon - that is his account number - and also an optional wallet address for receiving dividends).
7. Script verifies buyer sent sufficient btc as per the blockchain (within say 1 hours and maybe at least 3 confirmations). If not received, then there is a problem on how to clear this...this could cause problems.
8. If verified, deduct quantity from seller account and add to buyers account (if that account already exists) on bond ledger. If buyers account does not yet exist, create one now and add to ledger with bought quantity.

* A couple other aspects need to be included. Such as allowing seller to cancel order. And making sure old messages are deleted to avoid an order being executed twice.

Note: Because there is no online buyers wallet involved that a seller can tap into without further buyer action,  this is a seller's market page.

...

The problem with setting up a trading platform is that it is illegal. The SEC will not sanction a
trading platform for securities that are not regulated unless LRM goes through the trouble
of proving that all the players are qualified investors. Most of us are likely not in that category.

As I see it, the only long term solution is a decentralized exchange (like mastercoin or colored
coins or some equivalent). Has anyone kept up with the dev status on any of the decentralized
exchange solutions?

If it's the bond holders problem, a enterpreneuring bondholder can setup a trading platform and take a 0.x% cut on each trade

Takers?

The sad fact is that this hasn't happened yet because its not Zach's problem. He sold the shares once, and that's all he needs for the business to continue. He continues to sell shares without an automated platform in place. See, what's all the fuss?

Its the bondholders who are stuck holding the bag. When you buy LRM bonds, you're essentially committing to holding them for the (roughly) 3 years it will take for dividends to pay out 100% of your investment OR you can sell them slowly, over a forum, at a loss. Will LRM be around in 3 years? I guess I'll find out.

grnbrg, I think the best thing you could do for bondholders, bond price, and the long-term viability of LRM is to stop facilitating sales of new bonds. Then it would be Zach's problem and he'd make time to address it. Not that I'm telling you what to do! Just a friendly suggestion.

Think of the price bump this mystery ASIC nonsense would've caused. The more skeptical among us could've sold our bonds to the dreamers without taking a bath. I'd love to have that option right now.

Very true. That's a lesson I learned the hard way...

I'll quote myself... 'nuff said with regards to an ASIC -- it's the *only* way forward.