[Bitcoin-development] Feedback request: colored coins protocol

Jean-Pierre Rupp root at haskoin.com
Thu Apr 10 14:28:29 UTC 2014


By deciding to use a decentralized network to hold your assets, it may
make more sense to emit less shares. Two billion shares backed by
coloured coins makes less sense than a more conservative number, like
10,000. That costs a negligible amount of money, at least until the day
when Bitcoin takes over the world and a satoshi becomes very expensive.
But it is irrelevant now.

If you have already created a massive amount of shares for your company,
then the only reasonable solution is for a coloured coin to represent a
bundle of shares as Flavien suggested. Some shareholder could emit
another coloured coin instrument with a genesis block based on a smaller
set of shares to trade among smaller investors unwilling to deal in
terms of the bundled shares.

We need to understand that coloured coins provide benefits, but also has
constraints that are not difficult to live with.

On 10/04/14 13:19, Flavien Charlon wrote:
> By the way, padding doesn't solve the issue entirely (issuing 10 billion
> shares sill takes you 100 BTC, even with padding and 1 satoshi = 1
> share), so I am going for the solution where the asset quantity of every
> output is explicitly encoded in the OP_RETURN output. That way, whether
> you are issuing 1 share or 100 trillions, you never need to pay more
> than 540 satoshis.

-- 
haskoin.com
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