On Wed, Jun 18, 2008 at 11:10 AM, Chester Mealer <[EMAIL PROTECTED]> wrote: > another idea, clearly not a proposal yet > > Agoran Stock Market > > 1. This contract is known as the Agoran Stock Market. > > 2. This contract creates a currency known as SMDs which are fungible. > > 3. This contract creates a currency known as shares which contain a stock > symbol. > > 4. A stock symbol is a string of one to five alphanumeric characters. > > 5. Shares with the same stock symbol are fungible. > > 6. Shares with different stock symbols are not fungible. > > 7. Shares, and SMDs may only be created, destroyed, and echanged, according > to the terms of this contract. > > 8. There shall be five offices, under this contract, known as SEC Members. > These offices shall be imposed > upon the first five players to join this contract. > > 9. Any player may join this contract by announcing eir intent to do so. > > 10. SEC support means a vote in which at least 3 of the SEC members voted > FOR the proposal. > > 11. Any SEC member may change this contract with SEC support. > > 12. No player who is not holding an office of SEC member may change this > contract. > > 13. The first player to join the SEC also holds the office of SEC President. > > 14. The SEC President shall vacate the office if e is not able to be a > contest master for this contract should it become > a contest. > > 15. Upon 10 players joining this contract the SEC President shall change > this contract into a contest with emself as > contest master. > > 16. If the office of SEC President is vacant the set of players who hold the > office of SEC member shall elect from emselves > a player to be SEC President who is capable of serving as contestmaster. > > 17. If no SEC member is capable of serving as constestmaster, the player who > has been an SEC member the longest SHALL AND MUST > vacate eir office. > > 18. If an office of SEC member is vacant the players who have joined this > contract shall elect from emselves a player to > that office who is capable of serving as contest master. > > 19. The SEC President shall serve as record keeper of shares, SMDs, and > Companies. > > 20. A company may be formed by three members of this contract with SEC > support by announcing eir intention to form the > company, the company name, and the company stock symbol. > > 21. A company may only have one stock symbol, and may not use a stock symbol > already owned by another company. > > 22. When a company is formed, the SEC President shall destroy a number of > SMDs in the possession of each player forming > the company equal to the number of SMDs they own multiplied by 0.5. E > shall then create in eir possession a number > of shares with the stock symbol ofthe company they formed such that the > total number of shares with that symbol is 100 > and one member owns no more than 1 more than another member (33 + 33 + > 34 = 100). The three members who created the > company become known as its board of directors. Thereafer the board of > directors for the company are the three members > who own the most shares. In the event of two or more players owning the > same number of shares the player with the > first player name in alphabetical order who owns that number of shares > with that symbol is deemed to hold more shares. > > 23. A Board of Directors may request a stock split with SEC support, by > announcing eir intention to do so and specifying > a multiple of 0.1 between 0 and 2. The SEC President shall then create > in the possession of each member to this contract > a number of shares equal to X times the multiple specified by the > company's board of Directors, where X is the number > of shares that have the companies stock symbol which that player already > owned. > > 24. A board of directors may request a distribution of dividents with SEC > support by announcing eir intention to do so. > The President shall then specify a Random integer between 0 and 100 and > shall create in the possession of each member > of this contract a number of SMDs equal to X * Y / 100 where Y is the > number specified by the President. The SEC > President shall specify the random number exactly once per approved > request. > > 25. A player may request a conversion between then SMDs and points with SEC > approval by announcing eir intent to convert > a certain number of points or a certain number of SMDs. The SEC > President shall then destroy that number of points or > SMDs and create or award a number of points or SMDs according to the > ratio specified in this contract. > > 26. The ratio of points to SMDs is 2:100. > > 27. A player may announce a desire to exchange a number of SMDs for shares > with a given symbol by posting a message > containing eir name the word "BUY" in capital letters, the symbol they > want the shares to have, and the amount > of SMDs they are willing to exchange. The player posting the message > shall be the recordkeepor of eir own desire > to exchange SMDs for shares. > > 28. A player may announce a desire to exhcnage a number of shares with a > given symbol for SMDs by posting a message > containing eir name the word "SELL" in capital letters, the symbol of > shares they wish to exchange, and the number > of shares they wish to exchange. The player posting the message shall be > the recordkeepor of eir own desire to > exchange SMDs for shares. > > 29. Two players may exchange SMDs for shares with SEC approval by announcing > eir intent to do so. The SEC President shall > then effect the exchange and record its occurance. > > 30. Negotiation between players for rate of exchange between shares with a > certain symbol and SMDs is unregulated except > neither player may offer any consideration other than a number of shares > or SMDs. > > > > -- > Chester Mealer > [EMAIL PROTECTED]
Get out of my head! I was actually just thinking yesterday, "Hmm. . . Wouldn't a stock market be neat for Agora?" avpx
