ok maybe i am missing something here but how do we know that someone does not have the privkey for this address? https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVrAlso, why not just use an address that goes to the Red Cross or Shawns Outpost or whatever random charity. Since you are just using this as way to limit coin generation why not at least have the BTC go toward something that benefits people, planet, something. I know it is too late for that obviously. Counterparty aims at maximizing trustlessness, i.e. not sending Bitcoins to any address for which someone has the prviate key; even though you have suggested donating to good causes, Bitcoins could only be sent to their addresses at the expense of trustlessness and decentralization. EDIT: Regarding the unspendability of the Bitcoins in at CounterpartyXXXXXXXXXXXXXXXUWLpVr please see this post: https://bitcointalk.org/index.php?topic=395761.msg4317890#msg4317890yes one would have to be incredibly lucky to generate that address, however we all still have to trust that you do not own a quantum computer or that you did not come here from the future where you have the key to this address. i do not see the causality between using a charity address at the expense of decentralization, as being fundamentally different than your current state. this is using 1 address to gen coins so whether that address belongs to God or the Devil, or no one it makes little difference since coin minting is centralized to that address during the genesis blocks. i would love to see a real logical argument about why an address that is highly unlikely to be generated put out by a nontransparent group of people is better than a btc address that is publicly published by any well known NGO or nonprofit that puts out corporate responsibility reports and is transparent about who they are. essentially i think if someone does this again it would much better if the coins at least went to something productive, rather than accruing to the rest of btc holders (thanks btw  since obviously even the developers of this coin will not see any of this btc. otherwise looks like a good project. |
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So do I have this right? We paid a fancy 'PR' agency 18 thousand dollars - and all they got was one article in Forbes with mostly incorrect information and the other information was wildly ambiguous.
Boy, oh boy, I sure hope the Foundation doesn't pull that trick again. That 'giv-a-way' was worse than the faucet. Can we have a report on the activity taken up by our 'PR' firm? Is there some documentation of the work they did for this money? An accounting on this topic might be nice.
Thank you.
they had the article in Vice that came out a couple days ago, set up a panel at Inside Bitcoins LV last month which led to a few video interviews with Ron, there are a few other conferences they are working on, they did a couple press releases as well. there is probably a few other things but that is what I recall at the moment Was it worth $18K? Probably. It's a start you know- you pay a PR firm to seed the ground. You still have to make it grow. the 18k was for 3 months so they have another month of work to do. I do hope to see them get more traction from known bloggers and analysts in the future as the wallets and distributed exchange become usable with real MSC. there is still a lot of development work to do |
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ok maybe i am missing something here but how do we know that someone does not have the privkey for this address? https://blockchain.info/address/1CounterpartyXXXXXXXXXXXXXXXUWLpVrAlso, why not just use an address that goes to the Red Cross or Shawns Outpost or whatever random charity. Since you are just using this as way to limit coin generation why not at least have the BTC go toward something that benefits people, planet, something. I know it is too late for that obviously. |
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So do I have this right? We paid a fancy 'PR' agency 18 thousand dollars - and all they got was one article in Forbes with mostly incorrect information and the other information was wildly ambiguous.
Boy, oh boy, I sure hope the Foundation doesn't pull that trick again. That 'giv-a-way' was worse than the faucet. Can we have a report on the activity taken up by our 'PR' firm? Is there some documentation of the work they did for this money? An accounting on this topic might be nice.
Thank you.
they had the article in Vice that came out a couple days ago, set up a panel at Inside Bitcoins LV last month which led to a few video interviews with Ron, there are a few other conferences they are working on, they did a couple press releases as well. there is probably a few other things but that is what I recall at the moment |
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thats from the Aug 8, 2013.
Using similar logic, I expect eventually all non-open source services/products that could potentially steal a users funds will be regulated in a way similar to MSBs. Even something like the Trezor (if purchased as a complete device, not as hardware to which you load open-source firmware) I could see regulated in the USA because it's possible that the Trezor has hidden code that eventually steals peoples coins. but why isn't the NSAs hidden code on every machine regulated??!? |
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Someday food will need to be purchased in the black market. I think gasoline will be first. guns and explosives black market already exists |
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When will the drawing take place? You said that it will happen at 1/1/14 and it is 1/1/14
btw crazy coincidence ... you are the winner... email me at dom at mastercoin.org locking this thread |
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so the winning number is 33 i need to wait for JR to send the dev MSC to me, so as soon as I get it I will do the transfer. likely sometime next week as we changed how we are doing the distribution of dev MSC (tied to milestones) and JR is on vacation. here is a screen shot of the number gen  http://s27.postimg.org/riibi9wlv/msc_random_prize.pngwinning post: Just any old btc address? 18dHbkJbvmkqjtPMxukU6NQ8cuumRsDxXd
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I think that you're trying to say that user-defined currencies do not create additional demand for Mastercoin, and thus do not increase its value.
It is true, to a certain extent. (They make Mastercoin more useful no more than they make Bitcoin more useful.)
Yes, this is precisely what I am getting at. SatoshiDice used Bitcoin to spam messages. Mastercoin appears to also exploit Bitcoin with no benefit to the transport currency.
However, you're missing that demand for mastercoins can come from other directions: mastercoin provides features which work only for mastercoin-based currencies, and mastercoin is probably the biggest mastercoin-based currency, so people will use it.
Particularly, escrow-based currencies and CFDs: when/if these features will be in use, you'll need some mastercoins to use as an escrow/collateral for CFD. If there is a large CFD market, (e.g. suppose it requires $1B of value in collateral), mastercoin "market cap" will also be large.
However this is no different from someone issuing his own currency using an Open Transaction (OT) server. I can get the kind of escrow functionality mastercoin can dream of today. You seem to be missing the fact that mastercoin itself will be used as a currency. Would you rather use Mastercoin which has $200M market cap, or some shoddy "user defined coins"?
"User defined coins" is not the only feature.
That is not the point of "user defined coins", these could be company stock, bonds or other instruments that back real world assets like gold. They derive their value from the entity that issued them. Furthermore, the Mastercoin market cap is at present not based on an efficient market. Let's see how it reacts when placed into a real exchange. Let's see how Mastercoin survives in the real world where people are always trying to game the system. This could go all crumbling down via a double spending attack. Let's see if any exchange with a lot of BTC to lose will trust this coin in their exchange. bitcoin is not an efficient market either... and it could all come tumbling down tomorrow as real researchers with phd's have pointed out. but it hasn't; at least not yet. people are already trying to game the system... this was discussed a while back I believe it was someone who calculated that confirmation power of 3 bitcoin confirms equals 2.5 for mastercoin. (i'm recalling this from memory so someone feel free to look it up and correct me) anyway so one simply needs to wait 7 or 8 blocks, the role of the protocol does not include enabling high frequency crack trading. user currencies are separate in the spec from smart properties which could be stocks, bonds, etc. the benefit to bitcoin miners is that as more tx happen on the blockchain, they will get more fees for higher value economic transactions. for example me trading a stock is a lot more important to me than gambling away some money, therefore i am willing to pay a price premium. assuming of course that i am a rational market actor and not an irrational compulsive gambler. |
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Thank god I can finally get rid of those clowns who spout "Bitcoin is a scam the government has banned it" bullshit, just tell them "what the hell are you smoking, Lee Ka-shing has invested in a Bitcoin firm" will be enough to shut them up, this maybe the most meaningful thing coming out of this investment, LOL.
nah let them sell their btc so i can get some for cheap ... |
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innocent until proven guilty... but you all don't care about that do you.
i mean this could all be some cover for the real DPR, maybe poor, young Ross was just given 200k coins to stand trial and if he makes it out alive he is set, otherwise he still gets a movie.
you just need one or two hard headed potheads on the jury to do some good ole jury nullification and get a hung jury.
i would never hire any of you for my legal defense were I an alleged internet traffic godfather, just sad giving up before the fight has even gotten started!
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The first CB sponsored cryptocurrency will be 51% attacked to death in its first few weeks.
This will be a huge embarrassment, and will also reinforce how strong the Bitcoin network is.
It won't be very easy to commit a 51% attack, if the Bank of America is behind it. They have vast computing resources, and they can easily add a lot more from their allies. reason why people are flocking to btc is because people like real cheese as opposed to government cheese... if you get my drift. anyway by the end of 2014 or 15 a few key internet apps will have crypto embedded in their business model... that is so huge i can't even imagine how huge that will be |
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Since the mastercoin project is a protocol that can be run on any underlying blockchain, maybe the solution to the name problem is to grab their code and set it up as a layer on this coin instead of on bitcoin?
The bitcoin devs might even be grateful to you for that.
-MarkM-
great idea, let me know if you want to take on the time commitment to implement it so i can invest in the MST MSC exodus address.  +++++ PUblic Service Announcement: if you are tradin make sure that you know the difference between MSC and MST, they are NOT the same+++++
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usually it is a one way deal.
if zynga accepts bitcoins it will only be to buy zynga poker chips etc, they cant go the other way otherwise they become a gambling website.
who knows it might happen sooner or later...
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Mastercoin is not 100% premine, there is a 10% allocation on top of that what was created in August 2013 that vests at 50% of the remaining dev MSC amount per year.  Right now that is being distributed manually however there is a mechanism for proof of stake voting that will automate this so that stakeholders can vote on how to allocate the amounts that vest. http://wiki.mastercoin.org/index.php/Dev_MSC |
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interesting idea, following
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this is a really great idea. eventually this would allow for connections to robotic satellites in space to build and manage data centers, and so on... As an aside one can see in this diagram of Cloud City that mining is integrated into the purpose of the city.  |
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funny a year ago I was joking with some students in sweden that i want to build a data center in the sky. let me know how i can help. |
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send doges D5uEgPZAKHNvgo1LQ9hM2ybXHoYKDQh6wV biscuits give much |
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