Quote from: markm on September 02, 2019, 09:18:29 PM

Quote from: kickback on September 02, 2019, 01:41:59 PM

-I managed to set up a stellar account but after adding DVC and some other assets manually that were not listed it doesn't show any deposit addresses like a normal exchange for each currency/asset so am wondering how you deposit DVC onto it?

-Also which pairs do you recommend for trading apart from GMC/DVC and GRF/DVC and how do you withdraw assets/currencies if nescessary later or does withdrawls have to be XLM,I mean is it possible to withdraw DVC directly from the platform?

Thanks

Deposits are a bad word, thus so is withdrawals.

So think of it as buying and selling tokens.

Accepting customer deposits is a whole "thing" in some jurisdictions.

Plus, I do not create tokens "on the fly" representing coins that customers send in.

I created tokens already, representing coins I already have.

I like to only create tokens representing half my coins, if possible, so that I still have coins left over with which to buy back those tokens without having to disturb the "frozen" coins the tokens represent, coins which ideally have stayed in the same address for so long that the coin daemons (wallets) have hard-coded blockchain-checkpoints coded into them that prevents their ever recognising a chain that tries to go back in time and change the fact that those coins are in that "cold storage" address.

Heck ideally the keys for the cold storage addresses are split into umpteen parts and buried on treasure islands and/or safety-deposit boxes so it would be impractical to try to go dig them up again every time someone wants to trade tokens for on-blockchain coins.

Thus logically third-party (in this case me wearing a different hat) in/out exchange businesses take care of getting people onto and off of the platform, by buying on-blockchain coins from them with tokens and buying tokens from them with on-blockchain coins.

Once I have bought a bunch more coins that way I can go ahead and make a new checkpoint in a new copy of the client and issue tokens representing half of the new coins I have acquired.

So a bottleneck of this whole approach is that I cannot handle folks who suddenly want to convert more actual coins onto the platform than have already been represented on the platform by tokens.

But an advantage of this approach is the tokens are in effect better than 100-percent reserve; the coins the tokens represent hopefully never move on the blockchain, being traded back and forth of other coins than those that were frozen to be represented by tokens.

Depending on the blockchain it can make sense that after receiving coins on the blockchain one will want to wait quite a number of blocks before sending whatever they were to be traded for, especially with low-difficulty chains. So another advantage of using tokens on a platform can be greater speed of transactions since all the tokens benefit from what equivalent of "difficulty" a given platform has.

So basically you send me actual DeVCoins to some DeVCoin address I specify, then we wait for a bunch of blocks to go by. probably at least 6 I would think, then I send you DVC tokens on STELLAR to some STELLAR address you specify. Only so many DVC tokens exist so far so we have to start within that amount. My desktop's hard-drive dies yesterday so I am process of setting up my desktop apps and haven't set up STELAR again yet so offhand I do not even now how many DVC tokens I have handy.

Of course anyone else who has some can also handle this for you.

Getting back off the platform is similar, you find someone who has actual coins on blockchain to trade for tokens send them the tokens and they send you the actual coins.

I happen to know that I do have coins enough on hand to cover all the tokens anyone could send me, thanks to my "only tokenise half the coins" tradition.

Someday hopefully there will be production-ready free open-source code for making websites that accept coins and give tokens for them (out of a stock of tokens, not by issuing new tokens) and accept tokens and send coins for them. But no such code exists yet as far as I am aware.

-MarkM-

EDIT: I got a Stellar wallet installed again. Turns out I have 50 million or so DeVCoin tokens on hand (that aren't tied up in offers nor off in separate accounts I made in order to track offers for buying and selling various other things using DeVCoins).

That sounds a lot like Ethereum's first few addresses to be honest.

https://etherscan.io/address/0x0000000000000000000000000000000000000001

or even the last?

https://etherscan.io/address/0x1000000000000000000000000000000000000000

Integers overflowing and all the endian swaps in the world make it paint a bigger picture. Maybe wearing a different hat (red/white) you'd understand what I'm getting at.

How exciting blockchains make things. I hope for your vision to come true in the future as well. Maybe IBM being a believer in STELLAR, this will be good for your future pursuits:

https://www.zdnet.com/article/ibms-power-ful-open-source-gift-big-winner-is-china-losers-include-you-know-who/