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Author Topic: MasterCoin: New Protocol Layer Starting From “The Exodus Address”  (Read 446771 times)
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jeroenn13
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December 24, 2013, 11:41:21 PM
 #2601

Mastercoin launched on http://coinmarketcap.com/
Great to see.
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December 25, 2013, 12:04:11 AM
 #2602

Mastercoin launched on http://coinmarketcap.com/
Great to see.

yeah, it's on sale


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December 25, 2013, 12:10:14 AM
 #2603



How does one invest (buy ixcoin) instead of donate? Also, it looks more like just an alt coin, no mention of p2p exchange, smart contracts, or other features MSC, PTS, or eMunie will have.

iXcoin will be taking the colored coin approach.  To enable the p2p exchanges, smart contracts etc, we will be using Open Transactions ( read: http://bitcoin.stackexchange.com/questions/2708/how-can-open-transactions-benefit-bitcoin )  These are both more conservative and robust approaches that these new code from MSC, PTS or eMunie.

In short, we use only mature technology to secure your investments.

If you want to gamble with untested and unproven technology, then certainly you can gamble with MSC, PTC or eMunie.

In terms of investments, you can either acquire some coin for yourself and at the same time donate to the development of the coin.   It is a much fairer approach than these other coins.

In general, iXcoin aims to be the number one platform for creating smart property.

iXcoin already is #3 in terms of total network hash rate, so there is without a doubt, a lot of potential.

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December 25, 2013, 12:27:01 AM
 #2604

Could someone explain how Mastercoin prevents double spending?

Killerstorm's reply is absolutely correct.

I also wrote a longer paper talking about why mining doesn't need to be verification as well: Disentangling Crypto-Coin Mining: Timestamping, Proof-of-Publication, and Validation

Very nice read!   Thanks!

I stand corrected that MasterCoin may in fact be a workable solution.

However,  just like Colored Coins,  what prevents a competing system from creating their own 'exodus address'?
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December 25, 2013, 01:31:32 AM
 #2605

I have to say I don't understand alot about this master coin

chief among these is any asset class, you create, or putting say usd into master coin, how can their be any advantage over any other coin/xrp

in the end you still have to trust a gateway somewhere.

unless it is possible to build a distributed exchange that can interface with any bank account, without your banks consent eg, you can pay to the blockchain/mastercoin through bank transfer either way?

also when sending a mastercoin transaction where does it grab the btc fee from  and how? eg picks an adress in your qt randomly?


any pointers on this would be appreciated

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December 25, 2013, 07:16:34 PM
 #2606

-

Energycoin - Save Energy, Pure POS (Free IPO).  eP14cFcoFzszt3CiiBMyir8kjKLFRqMqJ5
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December 25, 2013, 07:29:49 PM
 #2607



Hello,

After speaking with MSC developers, I am going to post it here. I am currently working on an exchange website, just as localbitcoins.com but for a specific alt-coin.
Everything started as a project for the QRK community but I have finally decided to launch it for 2-3 alt-coins. You can check on the QRK or DOGE official posts it has had great support.

I have thought about making a specific website where everyone could buy and sell MSC directly with USD/EUR. That would make this coin much more accessible for everyone. I have the coding part for QRK and other alt-coins but MSC needs more work as it's a layer on top of Bitcoin and it doesn't work the same. Website will be translated in english, spanish and french and by the weekend I will have a .po file to help translate it in more languages. In a couple of days I should receive the design from the graphic designer I hired for the project.

I you want to support this initiative, I accept any kind of donations. No matter how much you send, it will help cover expenses and give me some motivation.

My address for MSC or BTC is: 1EcPG7m4Rn4Md7auVNRtzrrqHfCD5ATd18

Here is a screenshot of what I have until now (the localbitcoins clone for QRK):



The idea is to code it to work with MSC too!

Thank you in advance!


I dont think anyone should donate before you launched it and its fully working. There is nothing to donate for.
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December 25, 2013, 08:17:39 PM
 #2608

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Energycoin - Save Energy, Pure POS (Free IPO).  eP14cFcoFzszt3CiiBMyir8kjKLFRqMqJ5
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December 25, 2013, 08:38:31 PM
 #2609



Hello,

After speaking with MSC developers, I am going to post it here. I am currently working on an exchange website, just as localbitcoins.com but for a specific alt-coin.
Everything started as a project for the QRK community but I have finally decided to launch it for 2-3 alt-coins. You can check on the QRK or DOGE official posts it has had great support.

I have thought about making a specific website where everyone could buy and sell MSC directly with USD/EUR. That would make this coin much more accessible for everyone. I have the coding part for QRK and other alt-coins but MSC needs more work as it's a layer on top of Bitcoin and it doesn't work the same. Website will be translated in english, spanish and french and by the weekend I will have a .po file to help translate it in more languages. In a couple of days I should receive the design from the graphic designer I hired for the project.

I you want to support this initiative, I accept any kind of donations. No matter how much you send, it will help cover expenses and give me some motivation.

My address for MSC or BTC is: 1EcPG7m4Rn4Md7auVNRtzrrqHfCD5ATd18

Here is a screenshot of what I have until now (the localbitcoins clone for QRK):



The idea is to code it to work with MSC too!

Thank you in advance!


I dont think anyone should donate before you launched it and its fully working. There is nothing to donate for.

Donations are always optional. In my opinion it makes more sense giving donations to developers who try to help the community than opening 30.000 threads with giveaways for first xx posters on the thread.
Thanks for your opinion.
Thats true but you haven't done anything yet for Mastercoin.
Anyways good luck with the exchange.
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December 26, 2013, 07:49:22 AM
 #2610

Could someone explain how Mastercoin prevents double spending?

Killerstorm's reply is absolutely correct.

I also wrote a longer paper talking about why mining doesn't need to be verification as well: Disentangling Crypto-Coin Mining: Timestamping, Proof-of-Publication, and Validation

Very interesting read. Thanks for that.
Yes. +1, subscribed, liked, friended, etc.

It sounds like MSC could do what I think Nxt could do, except that it builds off BTC instead of replacing it. I like it.
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December 26, 2013, 01:19:24 PM
 #2611

Could someone explain how Mastercoin prevents double spending?

Killerstorm's reply is absolutely correct.

I also wrote a longer paper talking about why mining doesn't need to be verification as well: Disentangling Crypto-Coin Mining: Timestamping, Proof-of-Publication, and Validation

Very interesting read. Thanks for that.
Yes. +1, subscribed, liked, friended, etc.

It sounds like MSC could do what I think Nxt could do, except that it builds off BTC instead of replacing it. I like it.

NXT is a completely different system then Mastercoin. NXT isnt that special, it is using there own transaction system when we already have Bitcoin which does exactly the same.
Mastercoin allows users to have more features with the use of Bitcoin.
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December 26, 2013, 03:16:09 PM
 #2612

I just posted a proposal for a Mastercoin protocol extension to allow MSC to be transferred across different blockchains.
https://bitcointalk.org/index.php?topic=385457.0

In essence, we can treat Mastercoin as if it were floating atop any blockchain, not bound to Bitcoin or others.

Looking for feedback and comments.

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December 26, 2013, 05:57:48 PM
 #2613

Just wanted to see if you guys were aware of WeTube. It is basically a DAC or decentralized application that will aim to be a replacement for YouTube. Is this something that could be built on top of Mastercoin? It's rather unique because the people who generate the Mediacoins (currency for the WeTube DAC) are going to be the people who are offering bandwidth for all of the videos hosted in WeTube. You can read more about some of the ideas for the DAC at https://github.com/wetube/wetube-web

There is also an IRC channel on freenode for it at #wetube

Does anyone know of a similar application that is already being built on top of Mastercoin?
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December 26, 2013, 06:13:27 PM
 #2614

this thing is fog.
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December 26, 2013, 06:52:40 PM
 #2615

this thing is fog.

What do you mean. Read the FAQ in my signature.
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December 27, 2013, 05:51:12 AM
 #2616

this thing is fog.

What do you mean. Read the FAQ in my signature.

Had to look up fog in the urban dictionary. Still not positive what he means but I don't think it's "Fuckable Old Guys".
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December 28, 2013, 09:23:46 AM
 #2617


I just started paying attention to mastercoin because Peter Todd, someone who seems to have some serious skills, got involved. I don't know a lot about J.R. or David Johnston, but it looks like they both try really hard to look important in ways that make me question their judgment and would make me worry about being involved in any project where they have leadership roles.

Example #1: J.R. titled his whitepaper "The Second Bitcoin Whitepaper", as if trying to put himself on a similar level to Satoshi.

Example #2: David's github account is "DavidJohnstonCEO", which is kind of like the people who put "PhD" in their email signatures, but about 5x worse (especially on a site like github).

Have J.R. or David ever explained these actions publicly?


 
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December 28, 2013, 10:11:45 AM
 #2618


I just started paying attention to mastercoin because Peter Todd, someone who seems to have some serious skills, got involved. I don't know a lot about J.R. or David Johnston, but it looks like they both try really hard to look important in ways that make me question their judgment and would make me worry about being involved in any project where they have leadership roles.

Example #1: J.R. titled his whitepaper "The Second Bitcoin Whitepaper", as if trying to put himself on a similar level to Satoshi.

Example #2: David's github account is "DavidJohnstonCEO", which is kind of like the people who put "PhD" in their email signatures, but about 5x worse (especially on a site like github).

Have J.R. or David ever explained these actions publicly?

Example 1: There was a time when Satoshi was not yet revered as a god. Back in the day he was just another programmer talking some cool ideas. Although Bitcoin was his idea, the current implementation is not just his work. A bit like the bible, Jesus too was once a regular guy the disciples hung out with. But other guys, like peter, did a great deal of work before the religion would be able to take off.

So, it's not unreasonable for him to have put himself 'on the same level of Satoshi', he's just talking in the same way the developers and Satoshi used to talk.

Example 2: I know very few PhD's that DONT put "PhD" in their title every time they use it. Sorry, but if you put that much money and that much of your life into something so ridiculously hard and exhausting, you've earned the right to put "PhD" in your text messages for all I care. I'm still impressed.


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December 28, 2013, 10:31:49 AM
 #2619

Example #2: David's github account is "DavidJohnstonCEO", which is kind of like the people who put "PhD" in their email signatures, but about 5x worse (especially on a site like github).

"David Johnston" isn't an unique name, I guess he added "CEO" just to disambiguate. It's informative.

As for "The Second Bitcoin Whitepaper", it is as cheesy as it sounds... I don't know what kind of an explanation you're looking for.

FYI J.R. also created this: https://sites.google.com/site/2ndbtcwpaper/using-memes-to-explain-bitcoin#!

And this: http://lifeboat.com/blog/2013/04/bitcoins-dystopian-future#!

colored coins proof-of-concept: private currencies, stock/bond p2p exchange

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December 29, 2013, 02:11:48 AM
 #2620

Example 1: There was a time when Satoshi was not yet revered as a god. Back in the day he was just another programmer talking some cool ideas. Although Bitcoin was his idea, the current implementation is not just his work.[...snip...]

So, it's not unreasonable for him to have put himself 'on the same level of Satoshi', he's just talking in the same way the developers and Satoshi used to talk.

J.R. published his paper in January of 2012, well after lots of people realized the huge significance of Satoshi's work. The original paper already had a somewhat legendary status at that time.

Even if J.R.'s paper is as brilliant as he apparently thinks it is, a normal person in his shoes would publish it with a less tacky title and let people realize its worth on their own.

Example 2: I know very few PhD's that DONT put "PhD" in their title every time they use it. Sorry, but if you put that much money and that much of your life into something so ridiculously hard and exhausting, you've earned the right to put "PhD" in your text messages for all I care. I'm still impressed.

It sounds like you know some very try-hard PhDs. In general it's considered socially awkward to do that.

"David Johnston" isn't an unique name, I guess he added "CEO" just to disambiguate. It's informative.

There are so many other ways to disambiguate though. How many other people feel the need to insert 'CEO' in their github handle? You know github is a developer community and devs are famously skeptical of titles and primarily care about what you've actually created right? What if he had put "VIP" in his handle to disambiguate? Totally normal?

As for "The Second Bitcoin Whitepaper", it is as cheesy as it sounds... I don't know what kind of an explanation you're looking for.

Just some acknowledgement from these people showing that they're somewhat self-aware, like "Yeah, I know it was pretty douchey of me, but I was just really excited about the concept when I released that paper. I'm kind of embarrassed about that now."





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