Topic: stock coins? p2p virtual stock & debt equity / cryptostocks - page 3. (Read 9425 times)

When you wrote this it made me think about that crowd funding legislation that the SEC has yet to implement the regulations for (they are almost a year late I think).  Just think how huge that would be.  There is NO WAY that any regular stock exchange could expeditiously implement stocks for thousands+++ ideas that could get crowd funded, nor would they want to as the money involved would be too low for them to profit from the operational costs.

Nor should one exchange have a monopoly, so the obvious (to me) answer is a bitcoin style cryptostock, and of course using bitcoins as a medium of exchange.  

all those asics could potentially be put to use for trading and maintaining such stock networks.

and as a side benefit we would get TX fees for the miners, and ideally control for the crazy high frequency trading that happens on wall street

I also hope that this will soon be implemented. And hopefully the exchange will be incorporated into the P2P system. So that trustless trading of bitcoins against stocks is easily possible. That would be the ultimate breakthrough for large scale bitcoin adoption.

generally yes you can still have them, however this allows you to take your stock offline.

also, i wonder if if there is a way to create a dual confirmation system, so that the stock p2p network only confirms a stock transaction once a bitcoin tx to a specified address has been confirmed by the btc network?   

It's an okay idea but you still need exchanges.

this is something similar conceptually but for assets like currency and commodities

http://www.coindesk.com/bitshares-p2p-trading-platform-to-offer-dividends-on-bitcoins/

Like many people I have thought of the virtual companies who had recently in the last year or so created shares on centralized exchanges, and thought why were not these shares created using a peer-to-peer system like bitcoin?

WHY

Right now our weakest point are a few stock exchanges and/or manual tracking of shareholders- it posses a single point of failure, which can be easily brought down by any government.  We already have an example a few weeks after this thread was initiated:

News 23-09-13:  BTC-TC a leading exchange has announced that they will shut down http://thegenesisblock.com/btc-trading-corp-shutters-operations-cites-regulatory-environment/
News 08-10-13:BitFunder No Longer Available to US entities https://bitcointalksearch.org/topic/m.3316080


WHAT

A system where people can transfer shares using the same technology we use to transfer virtual currency eliminates that issue.  It also makes it easy for companies to track ownership, and for all crypto exchanges to implement a new stock so that we can trade it for BTC, LTC, etc.

There are a few options available right now: colored coins, bitcoin or alt clones, ripple, Mastercoin as well as developments like bitshares and OT.  

HOW

That's to be determined by the survey and research at this point.  We want to keep it as simple as possible, at least in the beginning.

Most likely in this type of system, the miners would only get paid tx fees for changes in ownership, and possibly distribution of shares of dividends.  


INTERESTED?

I would suggest the thread is used to evaluate the viability of these options.  Then organize a test IPO to document the processes involved, test assumptions, document problems and deliver something that can be used by entrepreneurs to raise funds for their ventures without consuming their time in managing relationships with online exchanges, etc.

Working Document: P2P Digital Debt & Stock Equity System Based on Bitcoin, this includes a link to Trello account

I have tried to separate out different efforts so that people from different backgrounds (technical/development, business/marketing, regulatory/legal) can contribute.

https://docs.google.com/document/d/10YdUCKQ8MLOrjpxZtuQc6PhBVfThX6XU-stTOfGSOQE

CURRENT STATUS:

researching direction of technology effort.

CONTACTS:

jordan.dev https://bitcointalksearch.org/user/jordandev-85784
Prophetx https://bitcointalksearch.org/user/prophetx-90917

If you like your named added here PM me, or just start getting involved all the documents are open


If you want to help promote:

The thread to get your CryptoEquity shares when we launch the proof of concept is here, this will be used as part of a crowdfunding campaign to support the development team involved as well as to get user feedback, so make sure you make a post.¨

https://bitcointalksearch.org/topic/make-your-mark-cryptoequity-shares-307417