Dacoinminster can you verify for me the following two transactions I did in the Exodus address? I used 0.0001btc fee. In http://mastercoin.bysh.me:3000/ I get an error! 407b1385e8a3c332b559a50fad0956c8f853a939e86f4662beed43d5ada8efa6-000 03efb950f6165f5191e93a7817a9a799a512f40454832a3bfe3f68c6745af3ac-000 Aha!! Nevermind I used the addresses instead!!! These appear to be Exodus Address purchases. That website will (incorrectly) tell you that all input addresses own MasterCoins (only the address with the biggest contribution owns MasterCoins), and it will double-count if the same address shows up as multiple inputs . . . You should all bug him to fix these issues, then you can actually use that website for the purpose you guys are trying to use it for  |
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Update: The deadline for getting in on this giveaway is past. I still have a number of sends to do, which I plan to do this week sometime (sorry for the delay).
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Again, please be careful using http://mastercoin.bysh.me:3000/ (it currently mis-reports the balances of some addresses!) I know it's a ghetto-looking command-line program, but if you aren't using MasterCoinAdvisor (and manually checking everything at blockchain.info or blockexplorer), you're doing it wrong! |
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I just checked the MasterCoinAdvisor to get a first deal started. I think I know how to send some mastercoins, but I'm not sure how I can check if the transaction was successful.
Any suggestion on this?
You and the seller should both agree on what the transaction should look like in the block chain. Once you see it show up (and assuming they didn't send the coins to someone else first!), you own the coins. There is a website for checking these transactions, but I'm told it doesn't handle valid transactions which have bitcoin change coming back to the sender. You can try that here: http://mastercoin.bysh.me:3000/Can you confirm that there were mastercoins transferred in this transaction? How much? http://blockchain.info/de/tx/4cad027f03f984d7745c077820617318c7553a90ca64be56e78217fc18cf4ea5Put the sender address ( 1Eo6FGPytuYvuA3ZS6ToXqP8sScWWtKhWN ) into the first field on that page: http://mastercoin.bysh.me:3000/There are 5000 MSC Please be careful using http://mastercoin.bysh.me:3000/ (it currently mis-reports the balances of some addresses!) |
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I just checked the MasterCoinAdvisor to get a first deal started. I think I know how to send some mastercoins, but I'm not sure how I can check if the transaction was successful.
Any suggestion on this?
You and the seller should both agree on what the transaction should look like in the block chain. Once you see it show up (and assuming they didn't send the coins to someone else first!), you own the coins. There is a website for checking these transactions, but I'm told it doesn't handle valid transactions which have bitcoin change coming back to the sender. You can try that here: http://mastercoin.bysh.me:3000/Edit: The link above often incorrectly reports MasterCoin balances (it has a bug which greatly inflates purchases for some addresses when they use multiple inputs) - using it for determining if somebody actually owns MasterCoins is not advised! |
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Is there gonna be some kind of exchange set up for this coin? Seems like a hassle to start trading....
Not just an exchange - a distributed exchange, as specified in the whitepaper The hassle is temporary! |
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I think it's time to close down this thread now that our own forum is getting some good traffic. Please move any discussion of Mastercoin price and trading here: http://mastercointalk.org/index.php?board=3.0Thanks! This thread is now locked. I'm getting lots of PMs from people who missed the deadline to buy MasterCoins from the Exodus Address (MasterCoin is not an alt-chain - it is a new protocol layer being built on top of bitcoin - read about it here: https://bitcointalk.org/index.php?topic=265488.0). If you missed the deadline, or you are an early adopter looking to sell, this is the place for you! MasterCoin/Bitcoin exchange will happen on a distributed exchange (hopefully soon), but in the meantime, I'd like to provide a meeting place for buyers and sellers, and a bit of guidance about how to go about buying and selling MasterCoins. Some sellers are trying to get 100x-200x returns overnight, which might be a bit premature, but whatever MasterCoins are worth over the next few days, we will find out on this thread. To buy OR sell MasterCoins, you need this software in order to make sure the transaction sending MasterCoins is properly formatted: https://bitcointalk.org/index.php?topic=265488.msg2919863#msg2919863 New: You can also try this website, which has the same functionality: http://mastercoin-explorer.com (note the disclaimers on this site - it has limitations, and may still have some bugs) If you are curious what the software is doing, you can read a complete breakdown of a send transaction here: https://bitcointalk.org/index.php?topic=265488.msg2940318#msg2940318Also, buyers will need to do some due diligence to make sure the seller actually has the MasterCoins they claim to have. Just seeing a correctly formatted transaction doesn't mean anything if the seller doesn't actually have MasterCoins to sell! If the seller got the MasterCoins via the Exodus Address, this is a bit easier, since you can check to make sure the address actually owns MasterCoins here: http://blockchain.info/address/1EXoDusjGwvnjZUyKkxZ4UHEf77z6A5S4P?offset=0&filter=0Note that if a MasterCoin purchase has multiple input addresses, ONLY the largest input actually owns the MasterCoins! If a seller received their MasterCoins on the giveaway thread, or purchased them from an early adopter, the due diligence gets harder. You have to check the validity of the transaction that sent them MasterCoins AND check that the address which sent them actually owned MasterCoins. Once MasterCoins have been sent a few times, this will be a very burdensome, manual process. Also, you must check to make sure the owner hasn't already sent their coins to someone else. This is also manual. Update: MasterCoin-Explorer.com now traces the history of MasterCoins which have been bought and then sent through the block-chain! However, this code has not been widely tested, so you should still double-check everything the best you can. Yes, this will become considerably easier in the future, especially once we have the distributed exchange running. At that point, I expect MasterCoins will be considerably more expensive. If you're willing to do some learning now, you might still get a good deal. Obviously there is no escrow currently for MasterCoins, so if escrow is used (I'd recommend it), the bitcoins will have to be the ones held in escrow. User MaxMint set up an self-service order book to keep track of the current bids and asks: http://mcoin.io/#/The above system is intended to replace the old google spreadsheet order book: https://docs.google.com/spreadsheet/ccc?key=0ApGPLGUd5ZCzdHFxbnhHQjBDSDVKamY5UHlWdkNMNWc#gid=0Happy trading! Warning: We've had some reports of scammers operating on this thread: |
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I agree, great tool. FYI, there are still some issues with certain addresses (especially those that have a change address in the transaction). I have reported these to Tachikoma and he's confirmed them and will be fixing the code when he can. Just wanted to put this out there for other's benefit in the meantime.
Yeah, I just noticed a problem with purchases using multiple inputs, and edited my reply above to mention that Still, this is way better looking (and way easier to use) than the code I have written! |
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I've been working on some proof of concept code for Mastercoin since there is not much around yet. I decided to put my work to some practical purpose and made a quick page that uses the Mastercoin libraries to run through the blockchain and count how much coins were bought by a specific address. A huge disclaimer: This is not the official code and things are often guestimated. For instance the whitepaper does not mention which time to use as basis for the extra coins for early adopters. I've opted in to use the time your transaction got added to a block but the reference spec might change this, although I'm not sure how. You can check how many Mastercoins you bought here. Full transparency; IPs for visits site are currently logged by the webserver software. If you don't want your ip in combination with your bitcoin address logged don't use it. Hey Tachikoma, I just checked this out. SO COOL!! It appears to work correctly with the addresses which purchased with only one input, and for the simple-send transactions I have tested. It breaks on multi-input transactions (for instance: http://blockchain.info/tx/4eb12949ed57e8ba3495ef4c51c5b8675c780f7586c59fa62c3bf18246f8d52d which should have purchased a little over 500 MasterCoins for the input address contributing the most funds. It appears that multiple inputs are each being credited with the purchase.) It appears that blockexplorer timestamps agree with your method. Can you confirm this? I wonder if blockchain.info timestamps are based on when their client first saw the transaction broadcast (i.e. data not stored in the blockchain). If so, then we can't use that timestamp (and my greasemonkey script is slightly wrong!) It appears that some payments were sent in good faith before the deadline, but not included in the block chain until Block 255365 (four minutes after the deadline). If we have to use the timestamps of the block itself, I think it makes sense to include transactions up through that block, and refund ones which came after that. What you have here is already a great entry into our programming contest (thread coming soon), and could earn you thousands of dollars worth of prize money (depending on how much further you develop it and what cool stuff other people come up with) |
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OK, so when I said I'd be back today, I forgot about the Labor Day holiday. I'll officially be back tomorrow. I have a couple minutes online, so I'll say a few things as quick as I can type them: - I'm unbelievably excited about the money that has been raised. We actually crossed the seemingly impossible threshold I set earlier to be comfortable quitting my job. However, I'm not quitting my job, since my investors and I agree that a huge salary for J.R. is not the most efficient use of project funds.
- Whoever is behind buymastercoin.com thinks that MasterCoin values have doubled since the fundraiser. I don't know if the site is legit, but that's pretty cool. Hopefully we'll have that distributed exchange soon, but in the meantime we need a thread for buyers and sellers to find each other, with instructions on how to do it correctly. I'll try to set that up soon.
- The first transactions spending money from the Exodus Address will be refunds for those silly people who invested after the deadline (not counting advertisements), plus a couple bounties I have promised: bytemaster, d'aniel, and I'd like to give 2 BTC to our awesome logo designer (or the equivalent value in MasterCoins if that is what he wants)
- I've already gotten a couple inquiries from people interested in being our first hire. If you are interested in the job of lead software developer (and MasterCoin Evangelist, and project administrator), you should start coding now, because . . .
- Our next major initiative is going to be a BIG month-long coding contest: "Show us what you can do with MasterCoin". I plan on putting significant funds into the contest (need to get approval from the oversight board, but I'm hoping in the neighborhood of $25,000), and ALL serious entrants will earn a prize. There is already at least one coder making progress on a project which could be entered (as seen on this thread). This contest will have its own thread, and I'll give you lots of ideas of things to try (like demonstrating better methods of hiding our data in the blockchain, demonstrating retrieving and parsing data stored in such new ways, implementing more of the spec, porting MasterCoinAdvisor to greasemonkey and integrating it with the blockchain.info web wallet, parsing MasterCoin transactions in the block chain, building websites which parse MasterCoin transactions, etc). We'll be treating this coding contest as a job candidate search too (winning the top prize won't guarantee you the job, but participating in the contest would sure help your chances!)
That's it for today. More tomorrow! -J.R. |
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I have reason to believe there will be significant activity on the Exodus Address over the next 24 hours. Also, I WILL BE OFFLINE FOR THE ENTIRETY OF THAT TIME, STARTING IN ONE HOURI spend my weekends 100% focused on my family. No exceptions. If a bajillion dollars come in, I WON'T EVEN KNOW until I get online - possibly very briefly Sunday, or possibly not even until Monday. If that doesn't make me a strange person (especially considering I am a software dev) I don't know what does. But there you have it. I'm a fanatical family man. I've been getting tons of emails lately with last-minute questions. Starting very soon, those emails will go unanswered (until Monday, when it is too late). This is of course why I need to hire someone Nobody ever believes me when I tell them this, so let me reiterate: this is not a joke. I'm headed offline right now, and will be unreachable (well, except by telephone for those of you who know me that well) for the next 24 hours while last-minute investors are scrambling to get their MasterCoin ducks in a row. If you are having problems, post here, and please help each other. See you guys on Monday! |
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dacoinminster, Will you at least agree to look at this suggestion which would seems to allay much of the blockchain bloat fears... Or prefix the data output with OP_RETURN, which is guaranteed to be prunable. If the output is never meant to be spent, then it is irresponsible not to do this.
Yeah that might work, or as Gavin said, there are presumably a bunch of other ways to encode the data. It's already being discussed on that other thread: https://bitcointalk.org/index.php?topic=284178.0 |
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Very interested in this.
@dacoinminster: Can I send you my BTC during August 31st (today)? I was going to send them yesterday, but I have to download the whole blockchain in the qt wallet.
See my note about the deadline a few posts back. The deadline is the turn of the month, UTC. Right now that's just over 24 hours away. I have reason to believe there will be significant activity on the Exodus Address over the next 24 hours. Also, I WILL BE OFFLINE FOR THE ENTIRETY OF THAT TIME, STARTING IN ONE HOURI spend my weekends 100% focused on my family. No exceptions. If a bajillion dollars come in, I WON'T EVEN KNOW until I get online - possibly very briefly Sunday, or possibly not even until Monday. If that doesn't make me a strange person (especially considering I am a software dev) I don't know what does. But there you have it. I'm a fanatical family man. I've been getting tons of emails lately with last-minute questions. Starting very soon, those emails will go unanswered (until Monday, when it is too late). This is of course why I need to hire someone |
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Given how much money you've raised it'd be quite easy to pay someone to add support for OP_RETURN to those clients, among other things.
Hey Peter! Thanks for checking out the project! (Peter and I met at the conference in San Jose, and had some interesting discussions there, and he is a tireless advocate for keeping bitcoin awesome, as you can see from his sig) I completely agree. We seem to have a rather formidable war-chest Being a good block-chain citizen is a matter of survival for MasterCoin. If we don't, we'll face competition from a clone that says "We're like MasterCoin, but with less impact on the blockchain" |
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I'm a little worried that some of our last-minute investors may get bit by time zones. Please be aware that the fundraiser ends at midnight tomorrow as determined by the block chain timestamp (UTC). If you send an investment when it is still August in your local time, it may not be August anymore on the block chain.
Bitcoins sent to the Exodus Address after that date will not purchase MasterCoins! Inevitably somebody will make this mistake, and I'll have to issue a refund. Please don't be that person.
To be a bit more specific, for people in the U.S., here are your deadlines: Pacific Time: 5PM 8/31/2013 Mountain Time: 6PM 8/31/2013 Central Time: 7PM 8/31/2013 Eastern Time: 8PM 8/31/2013 A couple other cities: London: 1AM 9/1/2013 Moscow: 4AM 9/1/2013 Tokyo: 9AM 9/1/2013 |
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JR, put OP_RETURN in front of the data script. That can't take more than a few seconds to change, and a few minutes to communicate. You may even be able to use dust/empty outputs in this case (you should, but not sure if the client supports it yet).
I think you are assuming that we have code which directly sends MasterCoin transactions, which we do not. Sends are currently accomplished using standard unmodified bitcoin clients (bitcoin-qt, blockchain.info, etc) |
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Ron started a wiki for us! I don't have the time and I imagine you too, but the wiki is live. Do you want to fill it out with content first? My approach would be to just post a message like: " Hey guys, we have a <still ugly> wiki at http://wiki.mastercoin.org, feel free to start documenting if you'd like. Right now we need to work on the wiki's homepage, and on an FAQ page, but any contribution you'd like to make is welcome " I don't believe in "wait till it's really polished and only then publish it", but rather in "release early even if it's butt ugly, and iterate" There's almost nothing there now. Anyone who would like to contribute to the project can start editing now. I expect Ron and I will contribute mostly by removing the "MasterCoin is a filthy scam that rapes the blockchain!!" posts, although I hope you guys will help with that too |
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