Some news:

• We're offering free DGC to those helping to test the trading platform: http://6thstreetradio.org/cms/radioshares
• I'm working on listings in Cryptsy and Bittrex, but odds are long on those.
• I'm giving away 1000s of RDSH to those willing to help with the registration system.  The next piece of the puzzle is to allow holders of RDSH to register them with the company, so that the holders can receive benefits.  Development on this gateway will begin very soon.
  

Trading platform is implement, in a console-based way.  Automated deposits aren't working yet.  PM me if you would like access.

I'll be 100% behind you, or anyone else who can help prove that there was any crime committed here. 

BUT....

The police will still think we're just complaining that someone stole our secret sword in some abstract WoW world.   There is no crime here.  There never was.  The fact is: if BTC is the same as fiat currency, then we have a case.  If it is not, and it is a revolutionary way of holding value and wealth, then the established means of law enforcement is USELESS.  Learn your lesson.  That is all.

-d

Any contract where one of the parties knowingly signed without "good faith" is null and void on its face.  If it can be proven that CoinMarket was grossly negligent in handling of user goods, or perhaps actively intent on stealing them, then the terms and conditions license will not protect them.

However, they can just say "We were hacked!  The coins are gone!" when, in fact, they "accidentally" left the back door open and one of their friends came in and swiped the goods.  In this case, you'd need the force of law to prove anything, and they're probably too busy investigating evil things in Norway like labor law violations and illegal health care providers.  You're basically going to the police and saying "Hey!  These guys stole my Sword of Power and then their Orc's slayed my kingdom!  Arrest them!"  Yeah, that'll fly.

But maybe they will listen...

Do I take this to mean you consider the source to be irreversibly flawed, and trading will never resume?  

Wow.  Deception, intrigue... MURDER*?   This is starting to get good!  Screw Gox.  This is where the real criminals are!

-madlatvian

* OK not really murder, but murderous threats from basement 31337 haxors, which is even better!  Crash and Burn!

What is counterparty?

I'm developing a small but functional RDSH/DGC trading platform using D.  If there's something already available, please let me know.

At this point, there are 600 RDSH blocks.  At 740 apiece, that's about 440k shares.

I would like to purchase 100k RadioShares for 70 DGC.  Send me a private message if you are interested in selling, even if it is at a different ask price.  

Please submit shares to Pe7q1bmSSf35wdx7xnRGfczBXNgsh6UKCy and follow instructions detailed in the first bid in this post: https://bitcointalk.org/index.php?topic=404533.msg4431352#msg4431352

I will update this post when the order is filled.

UPDATE: We'll take care of share sales on another platform. 

RDSH is not intended to be a currency or a payment system.  If that's what you want, mine for BTC or any one of the hundreds of other  useful alt-coins out there with block times on the order of seconds and minutes.  RDSH is intended to be a buy-and-hold way of investing in 6th Street Radio LLC.  Therefore, quick transaction time is not a priority, but rather are stability and predictability.

I've updated the code to hopefully prevent a lot of the normal PTS nodes from connecting.  Please download and build the code from  https://github.com/ddombrowsky/radioshares.git.   It should report client version 0.8.6.1, and have tag RDSH-1. 

This is a temporary fix, since it only checks a minimum protocol version.  I still need to get a version string in there to ensure that it's a node that is supposed to be on the RDSH network.  You will also see 6thStreetRadio in the subver string:

I'm getting a lot of connections from clients running the main protoshares nodes.  This is causing a metric f-ton of orphan blocks on the RadioShares network.  I thought I had put code in there to prevent this, but it is not working as intended.  The networks are mixing and that is causing a lot of DoS-style action on the main block chain.

My client is at block 194.  Running radioshares getpeerinfo will list the connections.  Those at a block height of > 40000 are on the main PTS chain and aren't useful for RadioShares.  I wish there was a way to just ban them until I can get a fix in the code, but I haven't found one yet. 

I received 23,600 shares in transaction bd17daecb512971301e6451aa010010d08643bfb177f8dfe49ce69f337a9f21c, but I don't see any message indicating this was a share sale.  If this is an error, please message me.

I haven't fixed the progress metering in the source code.  There are only 93 blocks so far, so you are up-to-date.

NOTE: This order is filled.

On Sat Jan 11 10:50:04 EST 2014, 6th Street Radio posts the following RadioShares (RDSH) buy order: 20000 RDSH @ 50 DGC

Please submit shares to Pe7q1bmSSf35wdx7xnRGfczBXNgsh6UKCy

To make a transaction. include the txid, the amount RDSH and your DGC payout address in a signed message and send it to me in a private message indicating the sale.  Payments will be made to this address at 0.00250 DGC per RDSH.

Make sure the message is signed with the same address from which came the transaction.  For example:

Please include the transaction hash, the from address, AND this signature in a private message to me.  I can confirm the transaction by taking the public key in the transaction, converting it to an address, and confirming that the message is signed with the same address that send the shares (see also http://bitcoin.stackexchange.com/a/8864).

I don't want to start a fight, but why would I just give shares of my company (6th Street Radio) to people (including myself, personally) who paid money to a completely separate company (Invictus)? 

Yeah, I know, which is why it's rather frustrating talking to the people on the bitshares forums.  I don't think they have any legal standing to enforce such a restriction.  The "license" is in draft.  I heard about it here: https://bitsharestalk.org/index.php?topic=2012.msg24863#msg24863.  It also claims to enforce design restrictions on any forks of the protoshares code (limits total number of shares, for example).

That said, I don't want to tell them to go fly a kite.  I am using their proof-of-work code.  Once I get to actual share distribution, I'll probably try to work something out with Invictus.

There is no "wallet," as this is not to be considered "money."  These are shares in a business.  The code is forked from PTS.  Now, the actual Proto Shares license agreement is in flux, so this might be a false start (supposedly I'm expected to pay 10% of my business in royalties to people who invested in ProtoShares).  However, I never saw this license until after I released the code, as it was not included in the original source.  We'll see what happens.

This is the official announcement that public mining open for RadioShares (symbol: RDSH).  You'll notice there is no icon, no grand bold text, no eye-popping images.  If no one mines this, it will be fine with the RadioShares developers.  This is because the digital "coins" will be used to shell shares in the 6th Street Radio LLC company.  We could have chosen to have a hidden launch and pre-mine everything, but that sends the wrong idea and we just didn't want to go that route.  Some of the details in how this dividend-paying share system will work can be found here: https://bitcointalk.org/index.php?topic=400765.msg4337214#msg4337214.

After a short period of time, I will announce in this thread that 6SR will be buying back a certain number of outstanding shares at a fixed price in DGC.

Some details:

• Proof of work: Momentum
• Total Shares: about 35 million in 5 years
• Block Reward: 740 shares
• Block Time: 30 minutes
• Block Explorer: http://107.170.13.80/block_crawler.php
• Exchanges: NONE
• Games: NONE

Source code: https://github.com/ddombrowsky/radioshares.git

Minimum Version Required: 0.8.6.1, git RDSH-1-0-g87089a4.  Any builds made prior to this commit will probably not connect to the network.

To begin, add the following line to ~/.radioshares/radioshares.conf to connect the root node.

Since the addresses are compatible with ProtoShares addresses, you can use the ProtoShares paper wallet generator to make offline wallets: https://bitsharestalk.org/index.php?topic=2261.0.

Please message me with any questions.  This is a public announcement.  Additional information on dividend payouts and the corresponding details will happen after a certain number of shares have already been mined.

This expands on the idea I first saw in ProtoShares, where the digital "element" is not viewed a currency or a commodity, but rather a something more analogous to a share of stock in a company.  Holders of those shares would be periodically paid a dividend (probably in a digital currency like BTC or DGC) based on the profit of the company for that time period.

As with common stock, this provides two things: a) income for the shareholders in exchange for risking their up-front capital, and b) capital for the business.  Unlike common stock, however, these shares are constantly springing into existence via the normal mining process.  To fix this, my company, 6th Street Radio, will pay dividends based on profit divided by the total shares outstanding.  Shares outstanding include any share not owned directly by the company, which would include any shares mined by outside sources.  The company would also periodically have a buy order for a large number of shares at a set price to provide additional incentive.

Some of my original notes from the idea:

• Fork from protoshares source, use same "momentum" proof of work.
• Since 6th Street Radio is a media company, the total number of shares is based on the shares outstanding for something like Townsquare Media (32 million according to a quick search).
• Total shares would target that number at 1 block per hour in 5 years.  43k hours in 5 years, so 740 shares per hour.
• The initial mining isn't exactly analogous to an IPO in the normal stock market, rather closer to "filing papers" at the SEC or something.  6SR will purchase shares at a fixed price in DGC (starting at 0).  After 6SR has amassed 74,000 shares (100 hrs) or so, we can start selling them as shares in the business, after which all outstanding shares will periodically be paid a dividend in DGC.   This could be considered the "IPO."
• The total number of shares not owned directly by 6SR are the "outstanding shares."  At this point, any new mined shares are also considered outstanding, and 6SR will need to purchase them back at market value to avoid dilution of share value.
• So what happens if/when 6SR is not the primary miner?
  • Let's say all new shares are be created without anything going to 6SR.  I think math will fix this, so long as the total dividend paid is a function of the total amount 6SR has received in sale of shares plus any profit received in that
    time period.
  • For example, IPO sells 100k shares @ 1DGC.  After a week, let's say there are another 100k shares out there due to shares generated by non-6SR mining.  If 6SR agrees to pay 3% per year, paid weekly, then 100k DGC * 0.03 = 3000 DGC / 52 = 57 DGC.  Divide that by total shares outstanding, which is now 200k, and you get your per-share dividend 0.000285 DGC/share.

I'm asking for comments and perhaps help.  I'm a software engineer, and I've already started playing with protoshares' fork of the satoshi code.  I've generated a genesis block and am testing to see if my minor code modifications will work if released into the wild.  I'll post the code publicly as soon as I have something stable to release.

I am curious where the intersection of Ingress and bitcoin will end up being.  The items are non-transferable, so there can't easily be a bitcoin market for it.  Maybe ingress itself will end up with it's own alt-coin (but I hope not).  Perhaps the bitcoin blockchain can be used to transfer items or something like that.

Interesting...