Saturday, 13 October 2012

We have put up a bounty for services

I've put this bounty up

As long as the shareholders don't massively disagree I'm going to offer out a 0.5% ownership of the former GLBSE mining stock/asset RSM - ( - That works out currently as ownership of 0.9(GH/s) of BFL-SC-Singles although we will be saving 50% of profits towards buying more ASIC's to increase the (MH/s) per share ratio.  For you to implement this idea and maintain it.  You wont receive the coloured coins relating to that 0.5% that will be held in a separate account managed by me but you will receive all profits made from 0.5% ownership as long as you maintain the code.  I've also offered this bounty to this coloured coins project too - ( - so the first/best implementation will win the bounty.  We don't need to use the coloured coins for about another month yet when we receive our first BFL-SC-Single.

So we have a way to manage our shares and pay dividends.  You will also be able to issue your own assets on Open-Transaction servers valued against your coloured coins(shares).  I hope everyone is with me on this as its very important for us to be able to operate and move forward.

1 comment:

  1. I received a couple of good questions by email and tried to answer them to the best of my knowledge on the subjects.

    Not sure I understand coloured coin enough, or OT yet, only touched on the subject, would u issue coloured coins as our shares to us?

    Your ownership of your shares would be proven by your holding of the coloured coins. You could then trade your coloured coins (shares) with anyone else just by sending them the coloured coins. Tho you/they will have to be careful not to spend there coloured coins by mistake. So it'd be best for the coloured coins to have there own wallet. You could also create your own asset on a Open-Transaction server valued against your coloured coins (shares).

    What ties the coloured coins to proof of share?

    When the coloured coins are created in the new altered bitcoin wallet the creation is recorded in the blockchain it has downloaded. Every transaction of coloured coins is then recorded in that new marked blockchain. Yes the coloured coins can be stored on the online wallet but I think it's best before sending them there for as many people as possible to download the new altered standard bitcoin client to receive the coloured coins. So the blockchain saved with that wallet is marked with the coloured coins. As if a copy of the new colour marked blockchain is not kept then everyone could loose proof there coins are coloured. The new altered standard bitcoin client will know the coins it receives are coloured. Although I'd imagine the genesis block with the newly created coloured coins is very important be kept and I still haven't figured out how more than one copy of this is distrubuted. That is still something I need to figure out but what I think it will mean is each shareholder should run and update a copy of the new altered standard bitcoin wallet to keep a copy of the new colour marked blockchain to prove ownership. Like I said the colured coins them selfs could be kept in online wallet but the new altered standard bitcoin wallets blockchain needs to be distributed and kept updated or we loose a copy of the colour marking in the blockchain.