I understand that anyone can list anything, but where can I get a trustworthy answer about an asset when anyone can issue any kind of asset?
Presumably some brief description of the asset would be given by the issuer, for example on bitcointalk or here
the issuer can sign a message with a BTC address proving it is them that created the asset and link to that in the description.
The burden of proof would be something like:
1. Be a trusted member (this takes a long time)
2. Create bitcoin address
3. Issue from new bitcoin address
4. Submit message signed by PGP key (to verify member) and bitcoin address (to verify that member owns address) to offer shares
5. Sell shares.
That doesn’t make the asset “valuable” per se – it depends what the member does with it.
A currently missing feature is the ability to “back” shares of an asset with XCP. This may be forthcoming if the need arises.
Also, don’t forget the new “Asset Description” feature:
[list][li]Assets are now accompanied by up to 42 characters of Unicode text which may serve as a short description of the asset (esp. a link to a website with more information and proof it does what it says).[/li][/list]
It is important not to form too strict of an analogy between Counterparty’s on-chain functionality and a real market. In our opinion, the best use of this ‘description space’ is to provide a link to a website. It would make sense, if, on such a website, there was a list of the addresses one was using to sell assets (and the assets associated with each address), that way the link could be verified. Of course, such verification is not perfect.
I want to emphasize, as well, that this feature does not eliminate trust or the importance of ‘reputation’, nor is that what it is meant to do. On the contrary, we believe that trust has to be a factor in asset sales, and the description space is only meant to help provide as robust a reputation system as possible.
[quote author=cityglut link=topic=35.msg113#msg113 date=1391496960]
Also, don’t forget the new “Asset Description” feature:
[list]
[li]Assets are now accompanied by up to 42 characters of Unicode text which may serve as a short description of the asset (esp. a link to a website with more information and proof it does what it says).[/li]
[/list]
It is important not to form too strict of an analogy between Counterparty’s on-chain functionality and a real market. In our opinion, the best use of this ‘description space’ is to provide a link to a website. It would make sense, if, on such a website, there was a list of the addresses one was using to sell assets (and the assets associated with each address), that way the link could be verified. Of course, such verification is not perfect.
I want to emphasize, as well, that this feature does not eliminate trust or the importance of ‘reputation’, nor is that what it is meant to do. On the contrary, we believe that trust has to be a factor in asset sales, and the description space is only meant to help provide as robust a reputation system as possible.
[/quote]
Agreed and will ponder these thoughts further. Great responses! Thank you!
[quote author=cityglut link=topic=35.msg113#msg113 date=1391496960]
Also, don’t forget the new “Asset Description” feature:
[list]
[li]Assets are now accompanied by up to 42 characters of Unicode text which may serve as a short description of the asset (esp. a link to a website with more information and proof it does what it says).[/li]
[/list]
It is important not to form too strict of an analogy between Counterparty’s on-chain functionality and a real market. In our opinion, the best use of this ‘description space’ is to provide a link to a website. It would make sense, if, on such a website, there was a list of the addresses one was using to sell assets (and the assets associated with each address), that way the link could be verified. Of course, such verification is not perfect.
I want to emphasize, as well, that this feature does not eliminate trust or the importance of ‘reputation’, nor is that what it is meant to do. On the contrary, we believe that trust has to be a factor in asset sales, and the description space is only meant to help provide as robust a reputation system as possible.
[/quote]
What’s the command feature for adding this 42 character include when issuing an asset?