The Medici Project (Counterparty Protocol and Overstock)

General Counterparty
1

The Medici Project is a new stock market platform to be built on top of the Counterparty Protocol.

Sources:

[1] http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market/

[2] http://insidebitcoins.com/news/breaking-bitcoinconf-patrick-byrne-ceo-of-overstock-announces-stock-market-based-on-bitcoin-block-chain/25275

[3] http://www.coindesk.com/overstock-hires-counterparty-developers-build-cryptosecurity-stock-exchange/

[4] https://www.cryptocoinsnews.com/overstock-chooses-counterparty-decentralized-stock-exchange-xcp-price-rises/

[5] http://bitcoinmagazine.com/17110/overstock-com-seeks-build-new-stock-market/

Discuss.

2

Awesome. I’d say more but words aren’t coming yet.

3

That’s fantastic and IMO it’s so great that thanks to the cryptoledger technologies free market alternatives to Wall Street are gradually taking shape.

4

Here is the correct data format.  It is called a “transaction stack”:


My initial offer $10,000
My terms 100 IBM
Your value 100 IBM
(this is a contract)
I deliver $10,000
You deliver 100 IBM
End transaction

Each step has a time stamp.

Contact me for details.  It solves the problems.

5

Awesome, I have purchased some CPX, good luck guys!

6

Be careful, I have no idea what CPX is. Hopefully you actually purchased XCP. :slight_smile:

7
Here is the correct data format.  It is called a "transaction stack":

My initial offer $10,000
My terms 100 IBM
Your value 100 IBM
(this is a contract)
I deliver $10,000
You deliver 100 IBM
End transaction

Each step has a time stamp.

Contact me for details.  It solves the problems.

This is pretty much what the distirbuted exchange does, though it cannot handle $ natively and some of those steps are combined, while the last one is atomic with the previous payment one.

8
This is pretty much what the distirbuted exchange does, though it cannot handle $ natively and some of those steps are combined, while the last one is atomic with the previous payment one.

I spent about 8 years studying money.  15 years of software development.  10 years trading.


One table with 5 columns is the solution.

Transaction ID
Commerce ID
Item/entry type
Description
Time stamp

It will work for any contract on earth.  http://promiselanguage.blogspot.com describes more.

Let me know if you’d like some assistance.

9

Some nice Medici information here - http://letstalkbitcoin.com/blog/post/lets-talk-bitcoin-153-medici-and-the-pretense-of-law

Is this only going to be a U.S. offering? If the code for the Medici platform is open source, different groups may be able to interface with regulators in different jurisdictions.

10

Medici Project is hiring…

https://www.reddit.com/r/Bitcoin/comments/2jmfhy/senior_backend_or_frontend_developer_overstocks/