Author Topic: Assetification.tk is now updated  (Read 4564 times)

Lunero on: October 04, 2014, 02:30:08 AM

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http://fimkassetification.tk/

- Euro asset exchange added

I all so uploaded a youtube how-to video.

Now let's see if this community can use fimk as the great trading tool it was designed to be.

I'm all so taking in requests on any alt coin trading, like doge or whatnot.

iscy #1 on: October 04, 2014, 03:53:42 AM

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Ranuala #2 on: October 04, 2014, 10:48:55 AM

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Good, but why you made this UI? It looks home made, suitable for kids?

simakki #3 on: October 04, 2014, 11:58:57 AM

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Good, but why you made this UI? It looks home made, suitable for kids?

Hard to say but with that UI and complexity it will be hard to get many users.

Eliphaz Fimk #4 on: October 04, 2014, 12:04:43 PM

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http://fimkassetification.tk/ is Lunero's personal project diving into the asset trading and redemption of assets. Although functional it should be considered experimental. Parts of his work, as agreed separately, may be used later by the community, association, or a third party to facilitate FIMK trading related services.

Lunero #5 on: October 04, 2014, 12:19:47 PM

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Hard to say but with that UI and complexity it will be hard to get many users.
Complexity comes from the use of wallet's own asset exchange, the site, as you can see, is very simple.
Simplicity is key when designing new systems, quick.
The How To video below shows how to use the system, and the wallet's asset exchange.

I'm sorry if I offend anyone's intelligence with simplicity, its a working system, if it doesn't fit your style, use something else.

We need a basic asset trade activity within the wallet's AE, so I can develop it further. Right now I get people emailing me through the bot about 3 times a day sending null assetification requests.

And yes, it is home made.

Ranuala #6 on: October 04, 2014, 12:32:27 PM

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I'm sorry if I offend anyone's intelligence with simplicity, its a working system, if it doesn't fit your style, use something else.

In these days working system is not enough to get new users, you will learn that for sure. And not need to mention that we don't need to use that. Good luck with your great attitude to get feedback and improvements suggestions. 


Lunero #7 on: October 04, 2014, 01:28:29 PM

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In these days working system is not enough to get new users, you will learn that for sure. And not need to mention that we don't need to use that. Good luck with your great attitude to get feedback and improvements suggestions.

I don't take improvement suggestions from community members, unless they pay me, witch is very welcome.

I do take altcoin support requests though.

Ranuala #8 on: October 04, 2014, 01:58:19 PM

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I don't take improvement suggestions from community members, unless they pay me, witch is very welcome.

Is this policy of FIM Krypto ry too as you are member of staff?

Eliphaz Fimk #9 on: October 04, 2014, 03:13:36 PM

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Is this policy of FIM Krypto ry too as you are member of staff?
No it's not. Lunero is steering his personal projects at the same time as technically helping the association, a situation which is unfortunately causing confusion at the moment here.

Krypto FIN ry is happy to take community suggestions by design and aims to implement them as necessary. Such suggestions would preferably be directed at myself and Dirk, who are in charge of the development projects, their direction, and decisions concerning end user experience.

id-entti-tentti #10 on: October 05, 2014, 10:24:09 PM

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This is still mostly/totally manual 3rd party gateway, right?

Stupid question (to keep it simple): If I send Euro's to Konsta's bank account, I will receive some sort of asset in my FIMK accout, but what am I supposed to do with that asset? Can it be exchanged to FIMKs? If so, how and when and how is the exchange rate decided?  Is the asset backed up by actual FIMKs, or will it be? How much, and is there/will there be upper limit for a transaction, how much FIMKs can you buy this way? How much of this mechanism can be made fully automated and trustless, and which features will by necessity remain 3rd party and depending from the good will and presence of Konsta?
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Lunero #11 on: October 05, 2014, 10:47:51 PM

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This is still mostly/totally manual 3rd party gateway, right?

Stupid question (to keep it simple): If I send Euro's to Konsta's bank account, I will receive some sort of asset in my FIMK accout, but what am I supposed to do with that asset? Can it be exchanged to FIMKs? If so, how and when and how is the exchange rate decided?  Is the asset backed up by actual FIMKs, or will it be? How much, and is there/will there be upper limit for a transaction, how much FIMKs can you buy this way? How much of this mechanism can be made fully automated and trustless, and which features will by necessity remain 3rd party and depending from the good will and presence of Konsta?

Good question. The main confusion around this is that people do not know that fimk wallet has a build in asset exchange, or what it actually is.
Once you receive the Euro assets, you sell them at asset exchange, and wait for someone to buy them. Usually there are all so bids to buy euros for fimk in the asset exchange, so if your in a hurry, you can accept that price fimk is being sold at.

Lunero #12 on: October 05, 2014, 10:49:19 PM

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The main focus right now is to get p2p asset trading going fluidly.

dance #13 on: October 05, 2014, 10:55:30 PM

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This is still mostly/totally manual 3rd party gateway, right?

Stupid question (to keep it simple): If I send Euro's to Konsta's bank account, I will receive some sort of asset in my FIMK accout, but what am I supposed to do with that asset? Can it be exchanged to FIMKs? If so, how and when and how is the exchange rate decided?  Is the asset backed up by actual FIMKs, or will it be? How much, and is there/will there be upper limit for a transaction, how much FIMKs can you buy this way? How much of this mechanism can be made fully automated and trustless, and which features will by necessity remain 3rd party and depending from the good will and presence of Konsta?
Assets trading is indeed confusing after using exchanges. In your example you are buying EUR assets for real Euros. It will be the only 'moment of trust' for you.
After that you are creating a sell order, so someone will buy your Euro assets for FIM (or your will sell your EUR assets to someone's buy order).

The guy who will buy your Euro assets is have to trust issuer that he will redeem these assets back to Euros. But this is not your 'problem' already, you got your FIM for these assets.

So Euro assets are not backed up by FIM, they are backed up by Euros from people who bought them for Euros, and which are stored by issuer.

And exchange rates are determined by people who want to sell euro assets for fimks, and by people who want to buy euro assets for fimks.

In all this scenario if something happens with issuer Konsta (hope God will not allow it) there could be problems with redeeming eur assets to euros if he is the only one who has an access to bank account or whatever.
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id-entti-tentti #14 on: October 05, 2014, 11:14:11 PM

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Yes, anything can happen to a single person, which is the main trust issue here. How about FIMK association functioning as the backer? Registered association could and should do that non-profit (for legal purposes), any other legal issues? Do the rules of the FIMK association allow this? If no problems for the association, or users of the service provided by association (AFAIK there shouldn't be, as reporting rise of value of "investment" in cryptocurrency is the responsibility of the trader), as member of the association I would support this idea. Association would, if I'm not mistaken, also have the means ("war chest" and FIMKs and some euros from membership fees etc.) to back up the assets and it could solve the hen and egg problem by putting up both initial buy and and sell orders at days rate.

Which of all needed various currency accounts does the association have now at it's disposal?

Using AE for exchange is good idea, I have no problem with it - except that we need the service also in Finnish language, to begin with. Most importantly we need good and easy enough system to exchange Euro and FIMK ASAP. All other currencies are less important at this point of evolution.

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