Coming up: Namecoin Stock Control

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phelix
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Coming up: Namecoin Stock Control

Post by phelix » Mon Nov 05, 2012 8:25 am

https://github.com/phelixbtc/ncsc

testing is not finished...

let me know and I will send you a couple of test stocks
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virtual_master
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Re: Coming up: Namecoin Stock Control

Post by virtual_master » Mon Oct 14, 2013 12:50 pm

phelix wrote:https://github.com/phelixbtc/ncsc

testing is not finished...

let me know and I will send you a couple of test stocks
Interesting.
Stock trading sites must be convinced also to use it.
The same system could be used eventually for fiat currency vouchers in fixed amounts.
For ex. 10,000; 1,000 and 100 vouchers which could be traded more easily with cryptocurrencies without implications of the traditional bank system.
http://namecoinia.org/
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phelix
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Re: Coming up: Namecoin Stock Control

Post by phelix » Mon Oct 14, 2013 1:18 pm

virtual_master wrote:
phelix wrote:https://github.com/phelixbtc/ncsc

testing is not finished...

let me know and I will send you a couple of test stocks
Interesting.
Stock trading sites must be convinced also to use it.
The same system could be used eventually for fiat currency vouchers in fixed amounts.
For ex. 10,000; 1,000 and 100 vouchers which could be traded more easily with cryptocurrencies without implications of the traditional bank system.
In blockchain ("atomic") tx: NMC <----> Namecoin-Fiat-Bonds

But you still need trusted companies to guarantee for the bonds....
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virtual_master
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Re: Coming up: Namecoin Stock Control

Post by virtual_master » Mon Oct 14, 2013 3:39 pm

It will be not easy to convince exchanges to issue and recognize fiat bonds.

'KNOWN ISSUES
Stock holders will have to update their names every 36000 blocks (~~eight months) or they will expire. It is possible to tell the address that held the name when it expired.'

and this is another problem.
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virtual_master
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Re: Coming up: Namecoin Stock Control

Post by virtual_master » Tue Oct 15, 2013 10:35 am

Another idea in this connection.
We could make a Namecoin Foundation which could issue Namecoin blockchain based and Namecoin backed fiat bonds(eventually Namecoin+Bitcoin backed) .
To avoid any complications:
- we could start with Euro only because the American government is very possessive to everything connected to USD
Euro is already a community of states currency and no specific country can claim ownership over it.
- at the beginning we could issue only small Namecoin Euro Bonds of 5 Euro, then 10, 20, 50 and 100
- the issuing wouldn't be connected to any exchange and any bank only backed with Namecoins and guaranteed a change back to Namecoins at any time
- the backing Namecoin reserve could be reduced over time(especially if Namecoin value rise) and used for development bounties
- users would have something which have constant fiat value (many wish something like this)
They could recognize each other for payment the Namecoin bonds and local traders also. Later may be exchanges would adopt it also.
If it is running well with Euro then we could begin the same way with $ bonds beginning with small notes.
http://namecoinia.org/
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cassini
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Re: Coming up: Namecoin Stock Control

Post by cassini » Sun Oct 20, 2013 12:24 pm

virtual_master wrote: 'KNOWN ISSUES
Stock holders will have to update their names every 36000 blocks (~~eight months) or they will expire. It is possible to tell the address that held the name when it expired.'

and this is another problem.
The meaning of the expiry field is mostly a matter of concensus. All the data stays in the blockchain forever.

We agree that a DNS server should refuse a domain name with a negative expiration date.
We also agree that any nameID software should refuse id names with a negative exp. date.
But for Namecoin stocks/bonds/fonds (ncs) we may agree that the expiry field is simply irrelevant. Only the first name_new/name_firstupdate for a ncs name is valid. Any later name_update/name_new/name_firstupdate transaction will be ignored.

virtual_master
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Re: Coming up: Namecoin Stock Control

Post by virtual_master » Sun Oct 20, 2013 1:00 pm

cassini wrote:
virtual_master wrote: 'KNOWN ISSUES
Stock holders will have to update their names every 36000 blocks (~~eight months) or they will expire. It is possible to tell the address that held the name when it expired.'

and this is another problem.
The meaning of the expiry field is mostly a matter of concensus. All the data stays in the blockchain forever.

We agree that a DNS server should refuse a domain name with a negative expiration date.
We also agree that any nameID software should refuse id names with a negative exp. date.
But for Namecoin stocks/bonds/fonds (ncs) we may agree that the expiry field is simply irrelevant. Only the first name_new/name_firstupdate for a ncs name is valid. Any later name_update/name_new/name_firstupdate transaction will be ignored.
This is true. But if the Namecoin client is showing that the bond in his wallet is expiring then he will be worried.
This namespace should have an attribute like 'never expires' which must be recognized by all supporting software.

Another possibility would be that we let to have an expiring date as it is now - it would be not so much a bond but more a voucher, or a development bond. (they have an expiry date) So long it is not expired it can be changed back to namecoins after the actual exchange price. This bond cannot be renewed. If the owner let him expire without changing back it is considered as donation for the Namecoin development.
It could be called like : Namecoin Development Bond.
Who is buying NDBs will help the Namecoin network and development even if he will change back before expires.
We could make a ranking with awards who has the most NDBs but they would be usable as online fiat equivalent.
Eventually some online stores could be even convinced to accept it and make a 10%-20% discount if paying with NDBs.
If somebody let his NDBs expire than we suppose that it was his wish to help the Namecoin development with it.
http://namecoinia.org/
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phelix
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Re: Coming up: Namecoin Stock Control

Post by phelix » Mon Oct 21, 2013 1:18 pm

Never expiring names certainly would be nice. The problem is that they would make it much more difficult to prune old transactions and name_ops thus greatly increasing the necessary blockchain size to store in a future system.

It should be possible to create names that can not be cloned but can always be renewed after expiry like this:

b/zombobond100eurix_nr12323_123blockheight234_NJdvoooMasterkeyoooo81jmQYR1b/sajfldjsfaooooSignatureooooasdfadfsasdfasdf
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virtual_master
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Re: Coming up: Namecoin Stock Control

Post by virtual_master » Tue Oct 22, 2013 2:59 pm

A new name came to my mind:
Liberty Bonds - issued in Namecoin namespace and backed with the deposited Bitcoins and Namecoins.
http://namecoinia.org/
Calendars for free to print: 2014 Calendar in JPG | 2014 Calendar in PDF Protect the Environment with Namecoin: 2014 Calendar in JPG | 2014 Calendar in PDF
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