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Board Announcements (Altcoins)
Re: The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread
by
Alias
on 18/11/2014, 11:52:38 UTC
Mastercoin Newsletter: http://www.reddit.com/r/mastercoin/comments/2mkdys/mastercoin_newsletter_monday_november_17th_2014/

Please note this thread will be closing soon.

I suspect I will be one of the few that will miss it.....

Is the mastercoin foundation going to hold a "death of mastercoin" final bash? Surely there needs to be a celebration.

Maybe we can set up a burn address to send our msc to.



You should start right away and send your msc here -->          


                                                                                       

To burn your Mastercoin, this address would be more apt: 1CounterpartyXXXXXXXXXXXXXXXUWLpVr
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Topic
Board Announcements (Altcoins)
Re: The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread
by
Alias
on 22/04/2014, 11:27:05 UTC
Here is the Maidsafe Mastercoin address: 1ARjWDkZ7kT9fwjPrjcQyvbXDkEySzKHwu

https://masterchain.info/Address.html?addr=1ARjWDkZ7kT9fwjPrjcQyvbXDkEySzKHwu¤cy=MSC

Post
Topic
Board Announcements (Altcoins)
Re: The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread
by
Alias
on 22/04/2014, 11:18:02 UTC
This is a joke right?

Nope. That's what it looks like. We await confirmation however. It might appear here - https://twitter.com/maidsafe/status/458559544881586176.
Post
Topic
Board Announcements (Altcoins)
Re: The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread
by
Alias
on 22/04/2014, 10:44:09 UTC
It looks like they pulled the Mastercoin buy-in option. http://www.buysafecoins.com/

I had noticed some huge discrepancies across the Mastercoin explorers.

They'll probably raise their goal with Bitcoin alone shortly.
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official
by
Alias
on 20/03/2014, 17:45:07 UTC
I think you misunderstood what jgarzik is saying. The idea is that we store the data in a second blockchain, and put hashes of that timestamped data in Bitcoin, which hashes would also be less than 40 bytes. The reason we did not do something like that is not a matter of "intellectual laziness", but rather of implementation complexity. Counterparty is not a project in computer science; it is designed to be a simple as possible, for the benefits in development speed. Even if we have to store our data in multi-sig outputs rather than the too-small OP_RETURN outputs. Worse is definitely better in this space.

In any case, we appreciate the suggestion, jgarzik, and if you think we're still missing anything here, specifically w.r.t. the space of technical possibilities, please let us know. Thanks.

Also, with the second blockchain, you have a second blockchain to secure, and due to this, Counterparty could not fully leverage the unparalleled PoW security that Bitcoin offers end-to-end. Moreover, unless I am overlooking something here, we would still need to parse out the data from the blocks in that second blockchain (assuming it's a Bitcoin or Bitcoin derivative implementation, at least) to get our stored data. So:
* it would not enable SPV-type Counterparty clients for what Counterparty offers over Colored Coin functionality (i.e. DEx, Betting, asset callbacks, dividends, CFDs, etc)
* it would lessen security of Counterparty transactions
* it would greatly increase the complexity of the implementation (i.e. increasing the chance of bugs and vulnerabilities)

The only dubious benefit would be the *slight* lessening our storage requirements on the block chain (i.e. maybe 20-40 bytes less per transaction?). I just don't see how this would make any sense here.

One more point: Counterparty can bring immense benefits to Bitcoin, and this will especially become more apparent if/as Ethereum (and other similar non-Bitcoin-meta "2.0" type coins) enter the picture. My personal feeling here at least is that Bitcoin may very well need offerings in the ecosystem with this kind of functionality to effectively compete with Ethereum and (future) crowd's feature list and draws -- or risk becoming obsoleted, at least among investors and financial market operators, which offer the ability to bring billions and even trillions into the Bitcoin ecosystem as it gains more recognition, trust, and mindshare with them. This process is, of course, only beginning, but we feel that the clear benefits that the blockchain can offer to finance (for not only Bitcoin payment operations, but for the more advanced finance operations that the technology can enable) will set off the next great phase of Bitcoin's growth, IF allowed to unfold organically.


+1 for Common Sense

When you really think about it in a global way, storing data in a second blockchain is even more wasteful.

Imagine these two future cases:
Scenario 1: Bitcoin + Counterparty
Scenario 2: Bitcoin + BitcoinLikeSecondChain + Counterparty

Scenario #2 will always use up more data globally than #1 because we have to add in the second chain + its overheads.
Scenario #2 makes all parties (Bitcoin, BitcoindSecondChain, and Counterparty) a little less secured.

Why have Counterparty/metaprotocols running on top of a second chain when it's even simpler to integrate directly into the chain like some of the Bitcoin competitors?  Why even have OP_RETURN?  Why even have script if we really want to save every bit of space?

Counterparty is just tiny writings in the margins of the Bitcoin book.  Reducing the margin to 40 bytes and advocating that all metaprotocols write to more books is just encouraging more wasted resources for everyone on the planet -- just so we might save up a few bytes in one book.

Allowing just enough room in OP_RETURN for a hash is like leaving enough room for Fermat to write down one last equation when that one equation could have led to another, and another in a chain of discoveries.  It makes sense that a little more room for writing in the margin will make the Bitcoin book more valuable for everyone NOW before the new competitions come.

Please allow some room in the margins instead of encouraging metaprotocols to waste more trees by starting more useless books.

While I mostly agree with your points, I feel that you have made one slight oversight in your consideration. The additional "books" that you refer to needn't be full-blown cryptocurrencies. They could simply be Distributed Autonomous Organisations utilising lite-blockchains that get overwritten or heavily pruned when their balance of outputs are written to the Bitcoin blockchain every 10 minutes.

Also, in this way, Counterparty could deploy a DAO add-on for high(er)-frequency (of the order of single millisecond latency or better) trading. This could be included with Leonardo for example.
Post
Topic
Board Project Development
Re: The Fate of Satoshi, a Bitcoin graphic adventure [BUY thread] [CrowdF + Equity]
by
Alias
on 14/03/2014, 18:21:18 UTC
Hello everyone,

I'm extremely sorry. We've had some pretty heavy family health issues and a housing problem come all at once down here. These last couple weeks have been rather bad for us. I've been knee deep and haven't been able to pay close to any attention to the project in the last few days. Fortunately things are starting to clear up for us now, and yesterday we signed a lease for a new place. That said, days flew by, we reached our due date and I have to talk about where we stand.

We intend to keep going and move ahead, but realistically we need and will re-launch the full campaign with a more all-around exposition in either Indiegogo or Crowdtilt or StartJoin, more material and removing the BTC only payment limitation (which was one of our original goals of having it exclusively funded in BTC, but it ain't happening). I'm still working on the details on how we'll be moving forward and will finish thinking and deciding through the weekend and post the plan on Monday.

As of now however, those of you who wanna opt-out (if you're patient please bare with me till Monday) are free to do so. Please clearly state so here and Gweedo will proceed to refund you. We'll understand and thank you anyway for your support thus far, for real. We'll also be very happy to move forward with those of you who still feel comfortable and believe in the idea.
 

Again, I'm really really sorry for keeping you in the dark these last few days. You have all been great and we're very very grateful for your support. I feel like I've let you down; all I can say is sometimes life just gets hard and out of control. We hope at least some of you will still accompany us looking forward.

I'll work out the details ahead and post again on Monday, or hopefully sooner.

Thanks,
Santiago.

Can I just say that I totally forgive you. Life can get a little bit messy sometimes. It's perfectly understandable, particularly with such a small team working on this project. I wish you and your family well (and more than simply wishing, I will continue to work hard at the cutting edge of genomics research to help everyone avoid preventable and treatable ill-health).

For me this was always a long-term investment so I'm not affected negatively by these developments. I am slightly disappointed that you feel the need to remove the BTC only limitation however. There is seriously no reason why you can't raise 20+ BTC in the next week or two. All it requires is a little bit more exposure on the appropriate media channels - e.g. coindesk, bitcoin magazine, bitcoin reddit etc. This is real news!

I would be willing to invest even more money (2+ BTC) if you consider using the Counterparty Protocol again. They have made some incredible progress in the last month and this recent blog post is particularly relevant - https://www.counterparty.co/pay-dividends-with-bitcoin/. Adam B Levine of Lets Talk Bitcoin (http://letstalkbitcoin.com/) is launching LTBcoin on Counterparty shortly. (In fact he already has - http://ltbcoin.com/discussion/52/someone-issued-ltbcoin-on-counterparty). This is the ideal way to re-launch the fund-raiser.

Please take the time to consider what you would be achieving by bootstrapping your own project into existence and sharing ownership of the project with investors all within the Bitcoin ecosystem. That is an amazing idea.

The timing of all of this is too perfect to miss out on this opportunity!

If you need any assistance please feel free to ask me any questions or start a "Fate of Satoshi" thread at the Counterparty forums - https://forums.counterparty.co/.

Don't give up! Smiley
Post
Topic
Board Announcements (Altcoins)
Re: Which alt coin you think should be added to markets most?
by
Alias
on 05/03/2014, 20:42:30 UTC
NXT for the win.
Post
Topic
Board Announcements (Altcoins)
Re: XBTC <--> BTC Gateway
by
Alias
on 19/02/2014, 14:27:03 UTC
Here's an option to reduce the risk of a single entity controlling all of XBTC causing systemic risk. How about I transfer XBTC to the developers and they by enrolment allocate portions of the XBTC to entities who wish to underwrite the value of XBTC to BTC. The more the better. That way, if any single entitty was to do a 'runner' it would have a reduced impact to the value of XBTC.

In such case, we need 100+ underwriters, I think.

In a situation like this each underwriter/backer can accept and exchange each others XBTC and BTC. There could still be room for Poloniex or another one or two larger more liquid underwriters to act as clearing houses for all the smaller underwriters.

I think there is only 1 way to perfectly implement this pegged value idea. Create a DAC (Distributed Autonomous Community) whose sole function is to take an amount of BTC as an input and return the same amount of XBTC to you in return. This DAC will run on at least all the underwriters computers. This keeps it as simple as possible. The DAC is trust-less and starts with the 21 Million XBTC. To get the XBTC you have to feed it with BTC. All the accounts would be transparent and really simple - only 1 address is needed for both the BTC and XCP.

This would work for any other crypto-currency too. The only caveat being that the members of the DAC community would have to run the blockchains of each cryptocurrency involved.

It certainly would be possible to code up a simple function as you described. The question I have though is how would the DAC essentially 'advertise' the directory of the addresses that serve up this function vs rogue nodes which would just eat up BTC?

If I'm understanding your question correctly then the answer looks to be quite simple - the blockchain. Anyone can send BTC to the DAC and the DAC sends the XBTC back in return. Once you know the DAC's public key you can see all of these transactions and individuals can sign messages with their private keys to prove they were involved in transactions.
Post
Topic
Board Announcements (Altcoins)
Re: XBTC <--> BTC Gateway
by
Alias
on 19/02/2014, 13:12:03 UTC
Here's an option to reduce the risk of a single entity controlling all of XBTC causing systemic risk. How about I transfer XBTC to the developers and they by enrolment allocate portions of the XBTC to entities who wish to underwrite the value of XBTC to BTC. The more the better. That way, if any single entitty was to do a 'runner' it would have a reduced impact to the value of XBTC.

In such case, we need 100+ underwriters, I think.

In a situation like this each underwriter/backer can accept and exchange each others XBTC and BTC. There could still be room for Poloniex or another one or two larger more liquid underwriters to act as clearing houses for all the smaller underwriters.

I think there is only 1 way to perfectly implement this pegged value idea. Create a DAC (Distributed Autonomous Community) whose sole function is to take an amount of BTC as an input and return the same amount of XBTC to you in return. This DAC will run on at least all the underwriters computers. This keeps it as simple as possible. The DAC is trust-less and starts with the 21 Million XBTC. To get the XBTC you have to feed it with BTC. All the accounts would be transparent and really simple - only 1 address is needed for both the BTC and XCP.

This would work for any other crypto-currency too. The only caveat being that the members of the DAC community would have to run the blockchains of each cryptocurrency involved.
Post
Topic
Board Announcements (Altcoins)
Re: XBTC <--> BTC Gateway
by
Alias
on 19/02/2014, 12:04:27 UTC
All,

I've been discussing with busoni who operates Poloniex the possibility of Poloniex basically issuing and underwriting the value of 1 XBTC = 1 BTC.

I have already issued 21M XBTC (divisible, non callable). It isn't locked because I'm getting an error locking it but this will be done prior to any sale of XBTC.

The idea is that Poloniex will create an service which will buy and sell XBTC to BTC at a fixed value of 1:1. The fee will be kept low + tx fees.

Pros
* Frictionless trading against XBTC
* More choice in the way the DEX is utilized

Cons
* Further centralized risk on Poloniex

If the idea goes forward, I'll transfer the asset to himself so there will be no more XBTC in circulation than what he sells.

How does everyone feel about this?

I'm going to attempt to instigate more feedback on this.

I'll explain one big advantage of the above. If Poloniex proves to be trustworthy, then a XBTC will have and maintain the same buying power as a BTC.

This means you can trade XCP for XBTC without using btcpay. You can totally avoid the troll orders because XCP and XBTC can be both held in escrow.

This will hold true for any Counterparty asset vs BTC.

While this is a good idea overall, I don't think that Poloniex should be the only backer. This should be decentralised as much as possible. And Poloniex should be 100% transparent about their balances and reserves of XBTC and BTC for their own sake.

Is there not an issue with the fact that there are 21 Million XBTC and just over 12.4 Million BTC (including all the burned and lost coins!)?
Post
Topic
Board Announcements (Altcoins)
Re: NXT :: descendant of Bitcoin - Updated Information
by
Alias
on 18/02/2014, 23:23:45 UTC
Excellent, with a 29,500 NXT sale on DGEX I have helped us to cross the 500,000,000 NXT mark on DGEX alone! =D

We have traded far more than half of the entire currency in the past few months. Well done everyone!
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Topic
Board Project Development
Re: The Fate of Satoshi, a Bitcoin graphic adventure [BUY thread] [CrowdF + Equity]
by
Alias
on 14/02/2014, 11:46:06 UTC
I was trying to share it among some of my friends , but most of them have the same doubt as me :-

I am pretty sure that the game will be funded and even if it is not funded , we shall get refunds.
I am not scared of being scammed , because you seem trustworthy enough and have a reputed member escrowing too.
But the problem is , what if the game does not sell much after being made ?
How can our investments be considered a "risk free Bitcoin investment" , when there is a high risk that the game will not gain enough popularity after being released ?

PS : Any estimate for end of the worlds becoming a full game ? So far it is awesome ( and addiciting ) Cheesy


You need to break things down to the fundamentals. Forget about Bitcoin for a second. The guys here have all the elements to make a very enjoyable and thoroughly engrossing game. Go do some research on the "point and click"/"graphical adventure" game genre. Notice the emphasis that these games put on quality. Quality art, engaging story. Good games get played by a lot of people. There is also a lot of longevity to games like this. People today still play graphical adventure games from the the 80's and 90's.

Now back to Bitcoin. The story of Bitcoin is one of the most interesting in the history of humanity. From it's conception to it's adolescence to it's ongoing maturity and it's continually changing future possibilities, the Bitcoin story is one of incredible mystery and confusion.

TLDR: What Voodah and his team are doing is using one of the best story telling mediums ever to tell one of the best stories ever. If that won't be popular, I don't know what will.
Post
Topic
Board Announcements (Altcoins)
Re: NXT :: descendant of Bitcoin - Updated Information
by
Alias
on 13/02/2014, 13:15:07 UTC
The client war is heating up, we have Offspring, Solaris, Freerider, NXTExplorer, DotNXT & many more on the way.


GREAT WORK PEOPLE   Wink

I agree. This is incredible. Bravo.
Post
Topic
Board Exchanges
Re: [ANN] KRAKEN.COM - Exchange Now Open with USD, EUR, BTC, LTC, XRP, NMC
by
Alias
on 12/02/2014, 09:51:03 UTC
I just want to say that Kraken has been the best exchange for me. With Justcoin a close second. Kraken have been extremely professional and they obviously have put a bit of thought into their in-house technology. The speed of SEPA withdrawals has been next-day for me every time. Incredible stuff.

Keep up the great work guys.

Regards,
Al

It would be cool to see a chart of the daily Kraken volume since its launch. Anybody has this data?

Try these:

http://www.cryptocoincharts.info/period-charts.php?period=alltime&resolution=day&pair=btc-usd&market=kraken
https://bitcoinity.org/markets/kraken/EUR
http://www.cryptocoincharts.info/v2/pair/btc/usd/kraken/alltime
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official
by
Alias
on 10/02/2014, 13:27:00 UTC
Quote
Ok.So running xcp on top of an altcoin is possible. But is it possible to run xcp on an own blockchain and if so is that an option / planned?  

And would the GUI client allow an easy installation?

I don't mean to sound flippant but the answer to both of those questions is obvious.  Of course XCP could run on it's own blockchain if it can run any blockchain. Just fork the Bitcoin code to create Countercoin and you're halfway there. Of course a GUI frontend will come with an "easy installation" if you just have some patience. It is a natural progression.

Edit: Are you talking about this instance of Counterparty or a new instance of it?
Post
Topic
Board Announcements (Altcoins)
Re: [ANN][XCP] Counterparty Protocol, Client and Coin (built on Bitcoin) - Official
by
Alias
on 10/02/2014, 11:33:26 UTC
When can the GUI client roughly be expected (dont want a guarantee just a rough estimate)? Would that GUI client go along with an easy installation?


Two other questions I have:
How many developers are working on counterparty right now and are they full time?
I assume counterparty is working on the bitcoin blockchain which means that transactions/contracts are facilitated by bitcoin miners. Correct? Would it be possible to migrate to an own/different blockchainl with counterparty? Any plans here?

  

The community has multiple desktop clients in the works.

Regarding a web-wallet, I have posted a written tech preview of "Counterwallet", which is the upcoming deterministic web wallet the Counterparty team is hard at work on. Check it out on the counterparty forums at: https://forums.counterparty.co/index.php?topic=79

As I stated in that thread, screenshots should be coming by the end of the week. Things are moving along very well.

As far as your other question goes, currently Phantom and I are working on Counterparty (pretty much) full-time. We have future plans for additional full-time devs.


Thanks for the answer!

What about the very last question:
Quote
I assume counterparty is working on the bitcoin blockchain which means that transactions/contracts are facilitated by bitcoin miners. Correct? Would it be possible to migrate to an own/different blockchainl with counterparty? Any plans here?

and

Quote
Would the GUI client go along with an easy installation?


How flexible is the Counterparty Protocol in terms of it being run atop other alt-coins instead of just Bitcoin?

Has anyone got any opinions about which alt-coin might be the optimal base for Counterparty?

Most alt-coins are nearly identical to Bitcoin, and Counterparty will run fine on any one that is. It would need a little tweaking for something like Namecoin or Peercoin, but not much, I think.

By which you mean support for OP_RETURN feature of Bitcoin? I think I read something on that before, i.e. that it is used to store data on the XCP transaction taking place.

I was reading an article on one of the bitcoin magzine websites and they mention that apart from the obvious external dependency (i.e. btc blockchain) the other problem is that it could be sluggish or time consuming searching the block chain for specific transactions that have stored XCP data. Is this a concern for you at this stage.

As far as I know, most alt-coins support multi-sig, which does suffice.

It's not a problem, as all of the transactions only need to be found once, in order, and then they are stored in their own (much smaller) database. And we have ten minutes between blocks, so there's plenty of time to parse new transactions as they appear on the network. The main disadvantage of the 'meta-coin' approach is that there can't be any SPV clients (someone needs to store the whole blockchain, as it were), but there are plenty of ways around that.
Post
Topic
Board Service Announcements (Altcoins)
Re: [BlockScan] New CounterParty (XCP) Block Explorer
by
Alias
on 07/02/2014, 14:07:44 UTC
Sorry to bring this up again, but if you could add the "Last DEX Matched Price" which you are already displaying on the home page to your JSON API list -  http://blockscan.com/api.aspx - then we could get Counpterparty listed on coinmarketcap.com which would greatly increase it's exposure to the wider cryptocurrency community.

Please consider this.

Al
Post
Topic
Board Project Development
Re: The Fate of Satoshi, a Bitcoin graphic adventure [BUY thread] [CrowdF + Equity]
by
Alias
on 05/02/2014, 21:36:26 UTC
I love this concept. The art looks really slick. I just sent 1.223 BTC to https://blockchain.info/address/1Hm89NoTN9MZ1Sy4H944f37AapWrtyypmy for 20 Shares (@ 0.06115 BTC per share). I also included the following - Public Note: BTT Alias: The Fate Of Satoshi, 20 Share Purchase. Transaction ID: 70a8a0d1c706dab1c1d72519d753979381e4f91682134a638d2977d079e9873f.

If you don't get the full 20% stake sold, I might buy the difference. E.g. if you have sold 17% by the end of the 45 days, I would buy the remaining 3%. I want to see this game and this funding/equity model succeed.

I would encourage you to distribute the shares via the Counterparty Protocol. It is simply a higher level protocol that lives on top of the Bitcoin network. It would automate the dividend process and allow for shareholders to trade shares. Likewise, if you guys wanted to liquidate some of your shares at a later date that would be possible. I'd be willing to donate some XCP to the project if required.

Thanks,
Al

Please sign transaction id 70a8a0d1c706dab1c1d72519d753979381e4f91682134a638d2977d079e9873f and address refund address with 1Mux2AUABpwoN9cWrbTiKA3tqmfEJjeBQp.

Thank you.

Done. Signature:

HIqn1GK0qnCTyTnAU6rx/pGa59nGpbFPS4/sd2ji+n+3fsjAFe8p4YCXW3Iqaq30G3rULcAJnC7GDyQgP2kRE50=

I just need the message that was signed with that address, since I can't verify the signature without the message and the signature.

Whoops! Sorry. Message (excluding quotes):

"Transaction ID: 70a8a0d1c706dab1c1d72519d753979381e4f91682134a638d2977d079e9873f; Refund Address: 12JaJ7o2dait3zfWS8UDnZzhbLSJEjR771; Public Note: BTT Alias: The Fate Of Satoshi, 20 Share Purchase"
Post
Topic
Board Project Development
Re: The Fate of Satoshi, a Bitcoin graphic adventure [BUY thread] [CrowdF + Equity]
by
Alias
on 05/02/2014, 21:26:18 UTC
I love this concept. The art looks really slick. I just sent 1.223 BTC to https://blockchain.info/address/1Hm89NoTN9MZ1Sy4H944f37AapWrtyypmy for 20 Shares (@ 0.06115 BTC per share). I also included the following - Public Note: BTT Alias: The Fate Of Satoshi, 20 Share Purchase. Transaction ID: 70a8a0d1c706dab1c1d72519d753979381e4f91682134a638d2977d079e9873f.

If you don't get the full 20% stake sold, I might buy the difference. E.g. if you have sold 17% by the end of the 45 days, I would buy the remaining 3%. I want to see this game and this funding/equity model succeed.

I would encourage you to distribute the shares via the Counterparty Protocol. It is simply a higher level protocol that lives on top of the Bitcoin network. It would automate the dividend process and allow for shareholders to trade shares. Likewise, if you guys wanted to liquidate some of your shares at a later date that would be possible. I'd be willing to donate some XCP to the project if required.

Thanks,
Al

Please sign transaction id 70a8a0d1c706dab1c1d72519d753979381e4f91682134a638d2977d079e9873f and address refund address with 1Mux2AUABpwoN9cWrbTiKA3tqmfEJjeBQp.

Thank you.

Done. Signature:

HIqn1GK0qnCTyTnAU6rx/pGa59nGpbFPS4/sd2ji+n+3fsjAFe8p4YCXW3Iqaq30G3rULcAJnC7GDyQgP2kRE50=
Post
Topic
Board Project Development
Re: The Fate of Satoshi, a Bitcoin graphic adventure [CrowdF + Equity]
by
Alias
on 05/02/2014, 20:05:33 UTC
This is a really cool idea. I just bought my shares. Would it be possible for investors to get their names included in the game credits somewhere? =D

I would also like to highlight the utility of the Counterparty Protocol here - it would simplify and automate the dividend process and allow for shareholders to trade shares. Check it out! - https://bitcointalk.org/index.php?topic=395761.0.

Thanks,
Al