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Its time to stop mining. This coin is not profitable to mine.
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Do you have a better link we can look at? As Americans that asks us for a login and we cannot read Chinese. |
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I would like a Mastercoin..I use blockchain, will that work?
19pZns1QaapoqoqtcGbrLwYJAUTFEeXk1N
Blockchain does not work. You must use electrum, or QT, or Armory. Some people have managed to get blockchain to work through some kind of hack but I have no experience with that. Hi,
I´d love to see some Mastercoins fly to me ^^
19YnGfADyDQpzVHTjR5Zh1uL8uhSfiofU7
Keep up the good work!
Kind regards,
Stewie G
Okay, all you have to do is put a message about Mastercoin in your signature. Great work.
1GK6Q2xo5zYnaZgcYVQrtyLvUjYoCZW6Hq
-ne1
Okay I believe I sent you coins already haven't I? |
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It seems a lot of really smart people are labeling Protoshares a scam. Why?
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Bitfunder.com is going to exclude US residents from trading on their platform. This could be the first step of shutting down their site (as seen with btct.co). This would cause a huge vacuum in the bitcoin stock world and would create an even greater opportunity for Mastercoin's smart property feature. I'm calling for a dedicated development team and / or dedicated smart property contest.
Your prophecy was correct. |
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The data feed decides who wins and who loses and it's independent from both betters. |
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Thanks in adance.
Ppidp8PqBB1x8fBFUskWnNxnMe6xQW9nTR
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The next round of payouts will begin in a few days when JR returns. Please have patience.
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Great work. Please listen to the the interview I did on Let's talk bitcoin episode 49. I didn't mention mastercoin explicitly, but it seems to be exactly what I'm looking for. I did, however, reference on my "coming soon" page at openalcohol.org. I am moving forward with my project and have a feeling mastercoin will be a big part of it. I have yet announce via thread on bitcointalk, but will be soon as well as other outlets. Just waiting on a couple things. Thank you. I too generated a vanity addy  1mcnhXcfYi5zyKtGdX3Y52WqQbEkwYCLB -ne1 Here you go: https://masterchest.info/lookupadd.aspx?address=1mcnhXcfYi5zyKtGdX3Y52WqQbEkwYCLBI post the promotion information at http://bitell.sinaapp.com/show.php?tid=456 This is a new website in China for people who love bitcoins. I believe more and more people begin to know MSC in China and I believe Mastercoin will have a bright future. I also change my signature supporting Mastercoin my wallet is: 1Q6hC8ewg51w2JFRNRo4t51LbNCk1XZGvh Thanks. You're all set: https://masterchest.info/lookupadd.aspx?address=1Q6hC8ewg51w2JFRNRo4t51LbNCk1XZGvh |
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So, with no btct and no bitfunder what other options we have?
Havelock, of course mpex.co and hope we have Colored Coins soon The prototype is already running in the form of a decentralized order book. |
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What was the point of asking users to become verified then?? I finally got around to submitting my documents today, please ignore the files uploaded and have them destroyed.
Thank-you
Not a surprise to anyone. But the alternative is the decentralized exchange, so perhaps its time to look at alternatives. |
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Heck yes. Doing CFDs as a MasterCoin feature is a fantastic idea. The user experience is (probably) not as simple as it would be for escrow-backed currencies, but unlike those currencies, there isn't any doubt about whether this would work, or for how long.
BTW you could even have meta features based on it: I could basically entrust a certain amount of mastercoins to "any CFD that meets certain criterias". This way, even if the duration of the contract runs out, and my counterparty can withdraw their funds ... my CFD will automatically pop up to find the next counterparty, and I won't have to manually find another one. These are some excellent ideas. Mastercoin could very well trigger a financial singularity and that is why I'm invested. What is a list of features we could build on top of CFDs? The feature you mention about any CFD which meets certain criteria, reminds me of something Mike Hearn was talking about with contracts. I endorse that idea, care to explore it further? Dacoinminster you might want to take a look at this. Sahai-Waters CPE ABEhttp://www.youtube.com/watch?v=mD4L7xDNCmA#t=1311http://eprint.iacr.org/2008/290.pdf |
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You're paying 18k for 3 months of an agency handling your social networking?
Man, I'm not charging enough for sponsoring Let's Talk Bitcoin.
Yes, the board was unanimous on pushing for this, and won me over. We're essentially paying for SocialRadius to use their large rolodex to contact tech writers who might be interested in introducing the masses to our project. We're trying to reach beyond the bitcoin community, which is why it is so expensive. Reiterating Luckybit's suggestion two pages ago, can we leverage the first article or two and submit a good summary and direction piece to Slashdot as well? I also suggest translations. It's currently being translated into a few languages but we need videos and the whitepaper translated into at least half a dozen languages. Marketing should be global. Slashdot is a good start I think Adam has a point here. People consistently ask for easy to understand "ELI5" info on Mastercoin, yet there's next to nothing available. I'm confident that SocialRadius will do a good job in getting the word out - but what exactly will be the word?
Yeah, they are writing our "facts sheet", which we will then review and correct as needed. Is that like an infographic? We need some of them too. |
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I was wondering, would it be possible to build upon the same mechanism for BTC-MSC exchange and add support for LTC/other alt-chain exchanging? I don't use LTC or have any but I do know a decent segment would find it useful to be able to trade back and forth between alt currencies. It could be a good, quick, and easy proof-of-concept and validation for Mastercoin to be used to trade other cryptocurrencies around for each other if there was a way to parse/manipulate two blockchains at once.
Actually thinking about it, it probably would be trivial. If you can do it with BTC I don't see why LTC would be difficult but I'm not an expert. I think once MSC to BTC is working then LTC and the other altcoins ought to be next. |
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And all that funding can easily be used by the copy cat. OK - then you should start now. You be the copy cat. You easily use that funding. Start now. Wait. Not so easy is it? Why don't you just go make MastercoinCopy? It's not so easy - is it? If it were easy, you'd be doing it now. The total market value of Mastercoin at today's price ((.09BTC/MSC)*600K*(220$/BTC)) is $12Million. If you could copy MSC to make MSC2 - you'd have 12 million!!. Better start today! There's no rush. It would be better to wait for MSC to mature and develop more. Then when a company wants to do an IPO integrate a web interface into their website and use their own copied MSC. They can then use all of MSC features and have a fully functional and secure IPO with very little cost. Or I guess they could spend more BTC on getting original MSC and do the exact same thing. And struggle all your life to beat the No1, like LTC tries to do with BTC. Good luck with that.. What's to beat? They get the functionality they need for free. They don't have to be more valuable than MSC. They just need to use coins to transfer assets. They don't care if their version of MSC is valuable or not. Dream on.. They don't NEED to have a following. The MSC protocol can be used by anyone. My point is that they can use their own copy and it will function exactly the same. IF MSC is expensive, then why not? Especially if all they need to use it for is an IPO? Because the clone will quickly become more expensive than BTC and be just a cheaper MSC. MSC2 will never be cheap because escrows are never supposed to be cheaper than the currencies they back. Gold isn't going to be cheaper than bank notes they back. What is so difficult to understand here? When I say the price of MSC will settle around 3-4 BTC a piece it's under the assumption that there will be stiff competition which can include clones. If I assumed there would be no competition at all then it would settle at around 20-30 BTC a piece in my opinion. There is Bitshares, ColoredCoin and Hops all which can offer competition. But if you make a clone and the clone were half the price of MSC then it would take twice as many clone coins to back a user currency as it would take Mastercoins but nothing else would change. The only thing that would change is the proportions. Instead of having to back Bitcoin 300% with 100 MSC, now it will take 200 clone coins. It's impossible to back Bitcoin with blanks. It's impossible to back any currency with a blank, the math simply doesn't support it. So whatever ultimately is in the escrow must have more value (people say around *3 more value) than whatever is being issued or else there is no way to redeem. If you're backing some user currency with a completely worthless clone no one is going to trust that. If the clone is just half the price of MSC then you'll have to use twice as many to reach the same value which solves absolutely nothing. The cheaper it is the more you'll have to use to back the same stuff, so please take out your spreadsheets and do the math. The main reason Mastercoin will be important which David Johnston alluded to is the fact that startups who want to offer a new service to the community will be able to benefit by issuing their own coin. Initially their coin will have to be backed by something with value while they build their capacity to redeem their coins. What I'm saying is that Mastercoin being valuable will be as essential as having a gold standard. If the startup doesn't perform so well then people can get their Mastercoins back and take value back from the escrow in response to their currency going down in value. If everything goes well then you'll be able to redeem with them by giving them their currency back in exchange for the service they offer. So let's say for instance it's a VPN service and it's promising to protect your privacy and IP address. At the IPO anyone can buy some of their newly minted VPN credit coins with Mastercoins. Those Mastercoins are held in escrow while they build the VPN. When the VPN is built then you'll pay them in VPN credit coins, or you can trade those coins with anyone else who wants VPN service, or sell them for Bitcoins if the price goes up or down, or redeem them for Mastercoins. This gives the user a lot of flexibility which does not exist anywhere but in the Mastercoin protocol. Here is something else, Colored Coin can be implemented on top of the Mastercoin protocol. So if ColoredCoin were truly superior then nothing stops the Mastercoin protocol from innovating with some Colored approach, but in any case the escrow is crucial to issuing new currencies. No one is going to trust a new currency which isn't backed by anything at all but the promises of the issuer to offer some goods or services at some future date. That just wont work out too well as we don't want to have to trust the issuer. If it's backed by Mastercoins held in escrow it solves our trust problem somewhat, we still have to believe the issuer will offer VPN service and that the VPN service will work but it's a different kind of risk you'll be taking. |
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I think that Ripple is a powerful idea that has been badly mismanaged, and yes, it competes with MSC. Their focus on Peter owes Paul owes Sam owes Jake debt chains causes their true killer features to get lost in the noise. Nobody cares about collapsing debt chains, but distributed exchange is incredibly important. Perhaps they have fixed this marketing snafu (I haven't checked lately). I also disagree with their XRP distribution model, and I am doubtful about the case for long-term appreciation of that currency. (Trivia: the MasterCoin giveaway thread was funded with MSC purchased with BTC I got for selling XRP I received from an early Ripple giveaway) Finally, I think their system is way too complex, not sufficiently decentralized, not sufficiently open source (this may have changed since last I looked), and not flexible enough for other cool things people want to do with distributed currencies. Other than that, I love Ripple. You should check it again. Totally open-source since a month . I agree they are not good at communicating but their main aim is not bitcoin community but exchange platform like zipzap and future gateways. With more gateways and nodes the ripple network will be distributed enough to be fair and honest. New features are coming with "contracts". I don't think it's too complex, it can easily be integrated and someone could use a ripple wallet without even know about it. About flexibility I couldn't really tell I'm not competent enough to say. XRP distribution model is particular but you don't need xrp to use ripple network (mm ok actually you need less than 1$ to fund a wallet...). About long-term appreciation I think it may appreciate if the network find more gateways and plateforms that use ripple. Otherwise it may also disappear (just like bitcoin or mastercoin actually since there's not real economy backing them). I've been reading a lot about MSC, and my concern is that communication-wise we're repeating the same mistakes Ripple is blamed for in the quote above. Perhaps the concept is clear to everyone deeply involved, but I'm willing to bet there's heaps of people like me on the forum and Reddit who, even with their best efforts, just can't find a simple explanation about what MSC is, why do we need it and what are the practical, real-life use cases. How do we expect people to get excited about weekly newsletters if these basic things are not explained anywhere? Either MSC can't be explained in a simple way, in which case I'll become even more concerned about its feasibility, or people who truly get it are not trying hard enough to explain what's it about. As an example, I tried to find a ELI5 for Mastercoin. There's two requests for that I found ( here and here). To me neither explains much; they only demonstrate how bad the situation with common-sense introduction material is. If the mindset is that ELI5 request can be answered with a link to the whitepaper (read: technical system specifications) then we really, really need someone on board who understands communication. It was good to read that a PR company will start working with MSC. Perhaps that will solve this issue in a month or two. In the mean time I would like to hear do you people agree what I say about the lack of ELI5-like material, or haven't I just been able to find it? I have some posts with some thoughts on what a finished Mastercoin protocol could do. Honestly I think we need a series of videos just as there is with Bitcoin. Text can only explain so much. https://bitcointalk.org/index.php?topic=265488.msg3429661#msg3429661https://bitcointalk.org/index.php?topic=318610.msg3436731#msg3436731https://bitcointalk.org/index.php?topic=265488.msg3435101#msg3435101If you don't want to read all those different overly wordy use cases. The main categories of users will be traditional users and issuers. Traditional use cases:If you're a traditional user then you'll want to do stuff you already can do but in a decentralized way. Maybe you want to do decentralized betting. Maybe you want to trade Bitcoins for Litecoins on a decentralized exchange built into the Bitcoin blockchain. Maybe you want to buy crypto-equity/stocks or bonds without having to worry about whether or not Burnside will shut the site down. Issuers:If you're an issuer then perhaps you're a business owner and you're issuing virtual stocks. If you're an issuer you might offer bonds or somethings similar. Or you might offer your own currency, voucher, credits, backed by your goods and services or backed by another currency. So for example if you issue a currency you can back it by another issuers currency called goldcoins to back your currency by gold. This allows for redeemable cryptocurrencies and that is a game changer. Currently when people ask what Bitcoin is backed by we have to say it's not backed by anything. New currencies will actually be redeemable and backed by the goods and services of the issuer. This will provide long term stability. I hope my explanation was of some help but I know it probably does not help. A visual illustration is needed and this will mean videos showing how it all can work. Thanks for the links and the short summary, Luckybit. There's material that I'm sure helps people understand MSC's capabilities better, though some of the examples are a tad abstract. I like the idea about video. That'll take time though, even if that idea goes forward. Perhaps as a first step the summary you wrote could be elaborated and copied to a suitable place where it's easy to find? Currently when someone would like to learn about Mastercoin his options are limited to reading this 85+ pages of MSC discussions, and try to pick out all the right comments among the questions, answers, suggestions, criticism, decisions, and changes to previous decisions made 6 pages ago. That's ironic as dacoinminster said Ripple is "way too complex". I wonder what people's first impression about Mastercoin is? I'm going through the same process myself. It took me a while to understand the inner workings of Mastercoin enough to send them and because it's constantly changing I haven't been able to even find a specification to even consider helping with development. I intend to wait until after the dust settles and there is a basic foundation to see what can be built on top of it. It is a protocol and nothing stops anyone from building on top of it once it's complete. |
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because ppl who cashed-in are promoting it so that their investment won't be under water. I bought some, just in case, and let the good times roll.
I think you completely misunderstand the point. Mastercoin isn't just a pump and dump scheme. It's about what it will enable. If you don't find value in a completely decentralized derivatives market, betting, stocks, futures, where any community can issue its own currency, then nothing I can say will convince you. But if you do find value in these things then the protocol is immensely valuable because of what you'll be able to do which you couldn't do prior to it. There will be plenty of money to be made when you're free to invest or trade in what will seem like a virtually unlimited prediction market. The value will be there but the real question will be what will the people do with it? 0.1 BTC is really nothing compared to what the Mastercoin protocol may be worth. |
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If I were you, I'd buy tons of Mastercoin right now. Please do not delay as this will cost you an insane amount of money in the long run.
btw - its not 'hype'; it is genuine excitement which is fully warranted.
Have you read any of my threads on coloreded coins vs mastercoins or mastercoin 2? The 'hype' is actually 'hype'. Expect copy cats. Mastercoin is a protocol that's easily duplicated. Bitcoin is not easily duplicated because of the miners. Yes please read the thread. You'll learn a lot about Mastercoin and ColoredCoin. Unlike DillPickleChips, I believe with over a 180 trillion dollar market cap for derivatives in the US alone there is plenty of room for both Mastercoin and ColoredCoin. My reason for preferring Mastercoin is that it does not depend on Bitcoin being stable and isn't backed by Bitcoin, you don't have to worry about Bitcoin or even know what Bitcoin is. Mastercoin is high level enough and can be built in such a way that you don't have to directly interact with Bitcoin to play with it. Perhaps ColoredCoin will reach that state too but ColoredCoin has a lot less development funding, a lot less momentum, and my opinion is you should hedge your bets on this. Get some Mastercoins while they are "a steal" cheap and if you see a clone which is even better than buy the cloneCoin and you'll probably profit from them both as the market is big enough for many players. Bitcoin has around a 2.5 billion dollar market cap. So to put this into perspective we are talking about a market cap in the trillions of dollars for Mastercoin, the clone, Bitshares and ColoredCoin. 100 Mastercoins could easily be worth over a million dollars and right now it's at a price of around 10 Bitcoins so that is a very cheap gamble. It has a similar amount of risk to buying Bitcoins at the current price and if you think it will go up to $1000 then perhaps buying it at $200 isn't much of a risk. The good news is if you do buy Bitcoins and Mastercoins only you'll probably watch the price of both go up because they are in synergy, in symbiosis. Mastercoin is what will help drive the price of Bitcoin into the $100,000 range so that 10 Bitcoins is a million dollars. So when I say 100 Mastercoins is a million dollars I'm assuming the price of Mastercoins will stay exactly as it is right now forever at 0.1 BTC. But if you want my true opinion, I believe it will be at least 3-4 BTC per Mastercoin even if there were half a dozen clones, Bitshares, etc. The reason is you have to consider the amount of marketshare Mastercoin will have when compared to the clones, to Bitshares, and to ColoredCoin. Even if it has a very small amount of market share in a 100+ trillion dollar market cap it's a ridiculous amount of money so I advise you to take out your spread sheet and do the math for yourself and if you decide to take the risk only risk what you can afford to lose. To move beyond speculation, I have personally tested the decentralized Mastercoin exchange prototype and it was a smooth sail. The fact that it's only early November and the prototype is working indicates to me that a nice polished client can be available sometime in December. Mastercoin as far as I know is the first of the decentralized exchanges to be successfully tested but I hear rumors that ColoredCoin had something working in 2012. References Size of global derivatives market How can the derivatives market be worth more than the world's total financial assets?http://www.slate.com/articles/news_and_politics/explainer/2008/10/596_trillion.htmlHow can the derivatives market be larger than the entire world's financial wealth?
Because the same assets might be involved in several different derivatives. A derivative is a financial instrument whose value depends on something else—a share of stock, an interest rate, a foreign currency, or a barrel of oil, for example. One kind of derivative might be a contract that allows you to buy oil at a given price six months from now. But since we don't yet know how the price of oil will change, the value of that contract can be very hard to estimate.
The Global Derivatives Markethttp://www.math.nyu.edu/faculty/avellane/global_derivatives_market.pdf |
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Why do you perceive mastercoin as great idea? The internet is a brilliant invention. But standing alone, it is actually a rather boring object. The internet is actually a mere protocol (ruleset) - called TCP-IP. It doesn't actually have much function at all. On 'top of' TCI-IP is email (smtp); webpages(http); and file transfer (ftp) - among others. This is where the real functionality that makes the Internet so useful lies. These are three ' higher level protocols' which give exciting new function to the internet (TCP-IP). Bitcoin and more precisely the blockchain and its administration - give rise to a nice digital currency. But that is not where the excitement lies. The real excitement comes in all the great functionality which can be supported with the blockchain. All this functionality will be embodied in Mastercoin - a higher level protocol which operates in conjunction with bitcoin . Just as http (webpages) operates on top of TCP-IP (internet), Mastercoin is a protocol which operates on top of the bitcoin protocol. However, Mastercoin will bring all the high level functionality. Bitcoin is just a boring old currency. If I were you, I'd buy tons of Mastercoin right now. Please do not delay as this will cost you an insane amount of money in the long run. btw - its not 'hype'; it is genuine excitement which is fully warranted. Brilliant response. |
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