Looks like we just got moved to the alt-coin board.  I sent badbear a respectful PM about it: This makes me sad. Those of us in the MasterCoin community do not consider ourselves an "alt-coin" since we are not an alternative to bitcoin - we're building on top of it! Sounds like you disagree? |
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It's quite a busy day regarding Mastercoin trades.
Just letting all of you know that I'll be offline for a couple of hours now. Once I get back online I will reply to PMs and release escrow funds.
I expect I will be unresponsive for long periods of time today as well. Just FYI. Once I get enough MSC sale agreements, we'll proceed. I want to make sure I give enough time for everyone to make an offer who wants to sell around this price. |
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I have a PM from one seller so far, offering "Up to 500 MSC @ .029BTC/MSC"
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Hey JR, there's this guy who bought like 175,000 mastercoins at a really good price and owns like a third of all mastercoins in existance, you should contact him as he might be able to offer the market some liquidity  Who is this mysterious character? lol. I've heard that he will only part with his MasterCoins at a MUCH higher price, or when they are pried from his cold, dead fingers  |
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So, the coding contest ended, and I have a couple MSC sends to do as part of the payout. Can you guys think of any way I can use multi-sig with offline armory? (Not sure I'm ready to trust this much money to our native MasterCoin PC wallets yet).
I figure I'll probably have to use the old method, but it would be cool to use the new one if I could figure out a way.
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Time to buy some MSC: Our first coding contest is complete, and two of our winners want some MasterCoins in the mix. (The other two said they want to buy MasterCoins on their own terms).
Consequently, I have 20.88 BTC to spend on MasterCoins, at the best price(s) I can get. (This is essentially a "market order")
Looking at the spreadsheet, it appears that I need to talk to: thehun, MidwestMiner, StarenseN, Wink, and lishbtc in order to put together an order this big. If anybody can beat their prices (which are listed up to 0.03 BTC/MSC), please PM me ASAP.
I'm happy to use MaxMint if desired. I'll be sending the MasterCoins to the Exodus Address first, then splitting them up from there to the two contestants (I want to make sure they both get the same price)
Thanks!
-J.R.
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Our first coding contest is complete, and two of our winners want some MasterCoins in the mix. (The other two said they want to buy MasterCoins on their own terms).
Consequently, I have 20.88 BTC to spend on MasterCoins, at the best price(s) I can get. (This is essentially a "market order")
Looking at the spreadsheet, it appears that I need to talk to: thehun, MidwestMiner, StarenseN, Wink, and lishbtc in order to put together an order this big. If anybody can beat their prices (which are listed up to 0.03 BTC/MSC), please PM me ASAP.
I'm happy to use MaxMint if desired. I'll be sending the MasterCoins to the Exodus Address first, then splitting them up from there to the two contestants (I want to make sure they both get the same price)
Thanks!
-J.R.
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I now have the requested info from the three main participants, which I plugged into my spreadsheet which already had my own opinion. After my magic math, the following numbers came out:
Tachikoma: 48%
Grazcoin: 26%
Zathras: 24%
Bitoy: 2%
Zathras included maraoz in his payouts distribution suggestion (maraoz withdrew from the contest), but that didn't actually affect the outcome because I was actually looking at the ratios between contestants rather than the total percentages (i.e. person X thinks person Y deserves twice as much as person Z . . . and that's all I'll say about the magic formulas!).
My heartfelt thanks to each of you. Payment will be sent once I give the board the opportunity to exercise their veto power.
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Pretty cool summary of everything so far in MasterCoin posted by David Johnston to the bitangels mailing list: BitAngels, I think a good update on Mastercoin is in order since I know many of you have jumped on board and are supporting the open source MSC protocol development. Too Long Didn't Read: Funds Raised, First Coding Competition a Success, 3 Mastercoin Blockchain Explorers Launched, Mastercoin Clients / Wallets In Development, MSC to BTC Exchange Launched ( http://www.buymastercoin.com/#what-is-it), Price of MSC More Than Doubled, Subreddit Launched ( http://www.reddit.com/r/mastercoin/), Mastercoin Foundation Incorporated as Non Profit, and Mastercoin.org website launched ( http://www.mastercoin.org/). Details: 1. As you know we raised 4,740 BTC ($600,000+ USD) as part of the 30 day funding effort for Mastercoin completed August 31st 2013. 2. First coding Competition for $25,000 USD in BTC and Mastercoins Launched (Complete Today October 15th 2013): Bitcoin Talk Thread with tons of details on the coding done: https://bitcointalk.org/index.php?topic=292628.0Github Repos: https://github.com/maraoz/pymastercoinhttps://github.com/maran/mastercoin-rubyhttps://github.com/maran/mastercoin-wallethttps://github.com/grazcoin/mastercoin-tools3. Blockchain Explorers and Mastercoin Exchange Launched (1,200 Mastercoin Transactions Already more every day): http://mastercoin-explorer.com/https://masterchest.info/http://www.buymastercoin.com/Mastercoin-ruby: A ruby library to parse MasterCoin data. Source: https://github.com/maran/mastercoin-ruby Decoda a Mastercoin data-address Decode a Mastercoin data-public key Encode data to an address Encode data to a public key Advise how to create a 'old school' transaction using sendmany Get the amount of coins bought via Exodus for a given Bitcoin address Get the amount of coins bought via Exodus for a given Bitcoin transaction-id Decode a Mastercoin transaction based on given Bitcoin transaction-id Create and relay a Mastercoin multisig transaction through Bitcoind Mastercoin-explorer.com: A Ruby on Rails application to index all Mastercoin transactions and show other data. Source: https://github.com/maran/mastercoin-explorer Index all Mastercoin related transactions both Exodus payments and simple send transactions. Offer a public JSON API so others can easily parse this data without having to index everything themselves. Documentation here: http://mastercoin-explorer.com/api_docs Multi-currency support currently has real and test Mastercoins Mastercoin-wallet: A (QT-based) Mastercoin thin-client implementation. Source: https://github.com/maran/mastercoin-wallet Uses the forementioned Mastercoin-explorer API to communicatie balance data. Only requires a private key with an existing Mastercoin balance to use. Saves keys encoded in config files. Does not require local Bitcoind/QT. Uses multisig approach. 4. Mastercoin White Paper Updated To Version 1.1 https://sites.google.com/site/2ndbtcwpaper/5. The Mastercoin Foundation has been Incorporated and 7 Board Members Volunteered. All in all its been a busy 45 days and the next coding bounty is coming up soon with a focus on the decentralized peer to peer exchanged using the Bitcoin Blockchain. A big thanks to Ron, JR, Brock, Jonathan, Sam Yilmaz, Anthony and Mich for helping the project progress so quickly. Best Regards, David A. Johnston BitAngels.co I think this would make a great starting point for the first post for our new blog: http://blog.mastercoin.org/Although we should probably use a more complete list of github repos: https://github.com/maraoz/pymastercoin https://github.com/maran/mastercoin-ruby https://github.com/maran/mastercoin-explorer https://github.com/maran/mastercoin-wallet https://github.com/grazcoin/mastercoin-tools https://github.com/zathras-crypto/masterchest-library https://github.com/zathras-crypto/masterchest-wallet https://github.com/zathras-crypto/masterchest-engine https://github.com/zathras-crypto/masterchest.info https://github.com/Bitoy88/BMX-2/tree/master https://github.com/dacoinminster/MasterCoin-Adviser/ (Did I miss any?) Plus we'd need to add a bit more about MasterChest and MasterChain (since he was mostly highlighting Tachikoma's work), or just cut down section 3 to the three links. |
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I hope that someone uses this opportunity to create a decentralized DNS network that's actually good. Namecoin always had a lot of flaws which probably would have prevented any real success. In particular, DNS does not require its own currency.
Could DNS be implemented as smart property on top of something like Mastercoin? Yes it could: https://bitcointalk.org/index.php?topic=265488.msg3343620#msg3343620 |
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Should MasterCoin do DNS? I just noticed that NameCoin is having some serious problems: https://bitcointalk.org/index.php?topic=310954.0Obviously MasterCoin could do DNS. We'd just need a message for "name=IP address" to register a domain name (probably add a fee to discourage squatting), and the sending address would be authorized to rebroadcast with the same name and a different IP address as needed. Might as well support IPV6 while we're at it . . . I would consider this feature low priority though, since my feature priority ordering is based on what will raise the price of MasterCoins the most, and this doesn't seem like a huge economic value to me . . . |
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Sent to tachikoma, grazcoin, zathras, and bitoy just now: Hey guys, I need each of you to do the following: - Update your final list of accomplishments on the contest thread, if you haven't already
- Refresh your memory by reading each others' accomplishments, and the official contest rules: https://bitcointalk.org/index.php?topic=292628.0
- Send me your address for payment, and let me know what % you want in MasterCoins (I'll purchase them on the open market)
- Tell me how you would distribute the money if you weren't participating. I need a % for each of the other three contestants
I know you guys will be uncomfortable giving each other numerical ratings. I am too! But it has to be done, so I'm spreading the pain around. I promise to keep your evaluations private (just don't reply-all!) Based on the current coinbase price ($139) it looks like the contest will pay out 180 BTC. I may change that number if the price changes drastically before the end of the day. It is likely you will each feel some disappointment when you see the final numbers, given how hard you have each worked. I hope you all own MasterCoins and will be participating in future contests, so that this is just the start of your compensation. By the way, if someone forks your code in a future contest, you'll get some money at the end, even if you do nothing This project is truly world-changing, and it is an incredible privilege for me to be a part of it alongside you. I believe that the benefits we'll get in the long run from owning MasterCoin will make this contest payout seem pretty trivial in comparison Thanks! -J.R. |
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P.S. I added masterchain.info links to the OP and to our reddit side-bar Also, added "MasterCoin" to the title of this thread. (Thanks for the suggestion Ron) |
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The coding contest ends tomorrow, and we're in fantastic shape! BMX is a bit of a last-minute entry (and the rules in the OP are biased against last-minute entries), but I'm excited to see where it goes. Tomorrow I will officially request that each of you post your FINAL list of accomplishments, if you haven't already. I will also ask each of you to evaluate the other contestants (in a private PM to me), according to the official rules. Your opinions matter a lot to me! You'll also need to let me know what percentage of your prize you want to be MasterCoins vs bitcoins, and what address to send the money to. Once I've got that info, I'll make a recommendation to the board for payouts, and once I have their approval, we'll send the money! Please don't delay in getting back to me with the info above, as that will delay payment, and annoy your fellow competitors -J.R. |
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Wow, I'm finding it hard to keep up with my own dang project!  I support proof-of-stake voting for MasterCoin features, to remove me as the (mostly benevolent) dictator of the protocol, and I posted in Ripper's thread to that effect. I'm even willing to abstain from voting with my 28% if that makes everyone feel better However, I've been thinking a lot about distributed e-commerce, and I've decided that there ARE some really good things about having such a system in the world, despite the obvious drawbacks. I plan to update the spec soon with: - Description of message for paying dividends
- Description of message for suggesting/supporting new protocol features
- Description of messages for implementing distributed e-commerce
- Several other minor fixes and updates I've mentioned on this thread
killerstorm raised some valid points on reddit about how MasterCoin will be affected by blockchain re-organizations: http://www.reddit.com/r/coloredcoin/comments/1o6yke/colored_coins_or_mastercoin/Basically, whenever orphaned blocks happen, he argues that MasterCoin has less protection against double-spending than bitcoin. At the very least, our various implementations need to give some thought to detecting reorganizations and re-scanning for MasterCoin transactions in case something changed due to the re-org. As we get bigger, we'll need to get more sophisticated about this. Certainly, no merchant should ever accept 0-confirmation MasterCoin transactions (since you can't prove the money hasn't been spent elsewhere until you see the transaction in the block chain and have high confidence it won't be orphaned). Please forgive Alex's tone in those posts. Since he runs a competing initiative, you can maybe see why he'd be a bit biased. Despite that, I have a lot of respect for his intelligence, and he's obviously put a lot of thought into this area. I'm unbelievably pleased to see that we now have THREE websites parsing simple-send transactions. Thanks for your hard work on this grazcoin. I think we're all agreed that your multi-sig approach is superior, we just can't use it yet! Don't throw away that code, but we need to all consolidate on the less-pretty-but-harder-to-block multi-sig method previously described. This is a great place to be at the end of our coding contest (ends tomorrow). Tomorrow I'll kick off collecting the data I need from each of you to do the payouts Seeing distributed exchange and smart property get implemented is going to be so exciting - I can't wait! -J.R. |
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Proof of stake is the way to go, and I'm not saying that because I have the largest stake! If the goal is to increase MasterCoin value by choosing the best features, you want people who own MasterCoins to do the voting. I've said before that if we set up feature voting I'd be willing to abstain, in order to avoid accusations that I'm some kind of protocol dictator. Right now I'm making protocol decisions because we can't all go in different directions, but I'd be happy to get out of the way if the community had voting set up. It would be trivial to add a MasterCoin message for "suggest/support feature". We could then parse those messages to display the features with the highest number of MasterCoins supporting them As Ron said on our main thread, it might be best if I don't personally make the decision to proceed with distributed e-commerce, given it's many potential uses for illegal goods and services! Although, actually, I've been giving a lot of thought to distributed e-commerce, and I think I see the potential for great good in it as well. For that reason, I'll probably rev the spec with a proposed set of message formats for that feature at some point. |
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Although one thing that I am missing is a weekly update thread by Willet.
There's so much going on, and so I think that summarizing last week's progress in a short post that only Willet can update to would be terrific for communications.
I agree a weekly update would be nice. I just haven't been able to make time for it yet. This would be an interesting way for someone to contribute though (starting a thread, and summarizing events in the MasterCoin world once a week). My dad follows www.reddit.com/r/mastercoin to keep up with things. That's another option for people overwhelmed by the volume of posts on this thread. |
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Deleted some flames. Sorry guys - please take it offline.
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I just noticed this question on reddit: http://www.reddit.com/r/Bitcoin/comments/1o5cfb/investments_similar_to_bitcoin/What other odd, lucrative, volatile, and outside the box investments are out there that are similar to bitcoin? Not necessarily just crypto currency either. Just curious. Of course I went to suggest MasterCoin in the comments, except I found that TWO other comments beat me to the punch. That suggests to me that we don't need to do ANY marketing. People know about us. We just need to execute on our plan! |
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The talent we have attracted has far exceeded my expectations, and the progress they are making is way more than I had hoped for. I'm not looking for new talent at all (although more are welcome to join if they are interested in participating).
I figured it would take us maybe three or four months to get as far as we have gotten in one month. I couldn't be happier. Our guys are absolutely rocking this project, and I think everyone invested in MasterCoin should be glad we have them.
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