Meme.exchange

Haven't heard from the project lead since this past Saturday; we were discussing ideas for HFT accommodations. I'll shoot him an email that there's a thread up.

Now that that's done, here are some informational (You)s

>Where the HELL is this meme exchange thing? It seems OP fell off the face of the earth, which sucks because it seemed like a cool idea.
I'd assume that OP has a life and has been tending that.
>Is it still in development?
Slowly, but from my point of view, yes. More API specifications have been written, more research has been done, more plans have been made. Work continues on, but there are periods of disconcertingly long radio silence.

Images are currently unsupported, but we're looking at options to add it in. It may have to wait until after the initial launch. Machine vision is pretty costly when it comes to computer power.

Yeah, that's the gist of it. There's a bot that scrapes all boards for text content. After the scrape is done, an algorithm is applied based on properties of posts containing a meme, and a price is generated from that. This process happens once every hour, but there may be cases when we want to speed it up (Happenings, etc.). The list of officially recognized and traded memes is maintained by the SEC (Shitposting and Expletives Commission). Members of the SEC propose memes to be added, and these propositions are then put up for a public vote after clearing the commission's internal vote. The public votes would be scheduled to happen regularly (probably monthly), and the winners are promoted to the live exchange.

considering it's text based, one could easily manipulate the market...

The algorithm used to evaluate the posts isn't that naïve. It considers a great many data points about the posts, and each posts only counts towards a given meme once. A post containing

>bane? big guy for you u u u u

only counts toward the BANE stock's value once. Various types of flooding and meme-forcing are accounted for as well.

Now that that's said, we're not omniscient; we can't catch 100% of the manipulations. However, even if we could, where would the fun be if you couldn't game the system a little?

Are you a dev for memex? If not, what's your connection to the project lead?

I'm the dev from Meme Market, your competition :^)

mememarketbeta.weebly.com/

I'm the somewhat official ops guy, which doesn't mean much without any operations to operate. I also do the API design and a smidge of graphic design.

I've offered to do dev work, but the project lead is pretty adamant about being the only developer right now. I'm not great at Node or JS in general (Go is my language of choice), so I can't do much on the main codebase anyway.

I'm creating a real money meme trading website. We're going to take wall street by storm, meme derivatives are the future of finance.

What I'm thinking is each meme starts out with a predefined amount of shares. The price is controlled by the laws of supply and demand, by people placing limit orders and driving the price either up or down.

Ops guy huh? Cool.

>API design
API? For algo trading or what?

So the main dev is using a lot of JS? Huh, interesting. When do you think it will be released?

>API? For algo trading or what?
Yes, along with most of the site's interactions.

>When do you think it will be released?
I don't think we have a real schedule worked out yet.

you know this all is regulated right? they will shut your ass down so fast. plus you will become a target for every russian hacker out there, as well as anyone who knows how to manipulate stock. since you have no controls in place, expect people to be cornering markets and all sorts of bullshit that will slap you right in the middle of an SEC lawsuit.

We will need to be regulated by the SEC, just like Coinbase. And it's only a matter of time before the site gets hacked, hopefully we can control the situation when that happens. There a tiny bit more security, in that we're not using bitcoins or any outside blockchain, just bank accounts. I'm sure every russian hacker out there is trying to hack Robinhood, Tradeking, Meryll Edge, etc but you raise a good point.

Security is my #1 concern and we will spare no expense. It is going to be a long and hard road filled with lots of stress, but in the end you WILL be able to buy and sell memes, and you WILL be able to profit off of happenings.

That's cool man, keep me posted on your progress.
Hey come to think of it, how can you have High Frequency Trading if the price only updates once an hour?

Holy fuck this idea is brilliant! Honestly ashamed I didn't think of it first.

>Hey come to think of it, how can you have High Frequency Trading if the price only updates once an hour?
The exchange decides generally how much a meme is worth only once an hour, but other factors influence the exact quote, and quotes can change as the result of a single trade. You'll only see major price jumps on the hourly update, but fluctuations can absolutely happen.

We may eventually roll out user-to-user trading as well, at which point we'd really rather have an official way to automate trading, rather than force people to scrape HTML and fake form interactions.

Hey man here's my email just so you have it. You might need to message me one day: [email protected]