MasterCoin: New Protocol Layer Starting From “The Exodus Address”

[td services]

Does the minor fee have to be 0.005? I added only 0.001 (which happened automatically).

My client, Bitcoin QT .8.3 required 0.0001 BTC after upgrade from .8.21, which wanted .0005.

[alexout]

So I just sent 5 btc to Exodus.

Does this look right to you guys?

Anything else I need to do?

http://blockchain.info/tx/0c1d774d553b03343f38ca51624d9bb08068c6de074f6319947617631726b0e3

[td services]

So I just sent 5 btc to Exodus.

Does this look right to you guys?

Anything else I need to do?

http://blockchain.info/tx/0c1d774d553b03343f38ca51624d9bb08068c6de074f6319947617631726b0e3

+1

[Pale Phoenix]

Over 1000 coins donated in the past 24 hours alone. Wow.

[caveden]

Just realized today was the last day to "get in", and decided I should read the document.

I'm having a hard time understanding your currency board thing (that you name "escrow").

If I'm to make a "goldcoin", the asset I should base my currency board on should be gold. If it's USDCoin, it should be USD, and so on. It should not be MasterCoin.
You cannot peg the price of something to two different assets...

Did I just read you document too fast and missed something?

EDIT: I think I got it. The reserves of your currency board are in MasterCoin, but the price you're tracking is that of a third asset. You buy/sell reserves in order to push the price your user coin to your target. Interesting.

Sounds risky... I'm not really sure it's doable. I've never heard of any currency board operating this way. That green clock up there kinda tells me I don't have the time to fully understand the economics behind it... guess I'll just have to buy after the deadline if I realize it's doable.

[panoss]

Does the  last  legit-intime transaction get in the Hall of Fame?   

[ripper234]

Passed 4000 - we're now at 4,049.61050358 BTC

[Super T]

Was the specific timezone of the deadline confirmed by J.R?  what will happen to transactions posted after the deadline?  what constitutes a confirmed transaction?

[ripper234]

Was the specific timezone of the deadline confirmed by J.R?  what will happen to transactions posted after the deadline?  what constitutes a confirmed transaction?

The timezone is GMT/UTC, confirmed, as measured by the blockchain.
TX posted after the deadline ... that's a good question. There is no general way to return them to their owner. I think the Mastercoin foundation will just claim them without an MSC reward.

Regarding specific transactions accidentally sent after the deadline - you can always ask for a refund if you can prove you own the address, and I believe we will grant it in such a case. Please be aware that this is all manual labor for us, so we are making no guarantees that any tx posted after the deadline will be refunded.

(I'm saying we because I'm now (unofficially yet) a board member of the Mastercoin foundation).

[yantis]

Just sent another 180 BTC for a total of 280

https://blockchain.info/tx/73fb62ccc15101ffbe44c6b79b1110e7bf2dd503aeecbd8b2fcdd69aee14514d

[TomHirsch]

Just sent another 180 BTC for a total of 280

Sweet.  I just noticed that.  That is some legit support.  Thanks for joining us.

[onecent]

few mins to go...almost BTC5000 donations . Very Impressive!

[Wagner2014]

Times up!! 

[Zephir]

Congratulations to dacoinminster and this project.

More than 4710 coins in just a month.

[Wagner2014]

No. Transactions    551    
Total Received    4,727.31317033 BTC    
Final Balance    4,727.31317033 BTC

And someone has already sent 11 BTCs after the deadline, so the final number could be:

4,716.31317033 BTC

http://blockchain.info/address/1EXoDusjGwvnjZUyKkxZ4UHEf77z6A5S4P

Here's the copy/paste:

Summary
Address    1EXoDusjGwvnjZUyKkxZ4UHEf77z6A5S4P
Hash 160    946cb2e08075bcbaf157e47bcb67eb2b2339d242
Short Link    http://blockchain.info/fb/1exodu
Tools    Taint Analysis - Related Tags - Unspent Outputs
Transactions
No. Transactions    551    
Total Received    4,727.31317033 BTC    
Final Balance    4,727.31317033 BTC    
Transactions (Newest First)
Filter
4c097244046e1b1fa23edc7ad8efd10babbe7c0caa13925c33097b84dae57af7 2013-09-01 00:00:10
1KDCt8VoY45ya3QnExwtZEdugAnRAncr1Z
1EXoDusjGwvnjZUyKkxZ4UHEf77z6A5S4P 11 BTC

[Patel]

Due to the DDOS attacks on Blockchain and Bitstamp today, is there any way you can extend the deadline one more day? The past 4 hours I have been scrambling to get my funds ready, and then Blockchain wallet was down.

If you could extend it one more day that would be awesome

Edit: I really hope the donators and developers would be kind enough to extend this for one more day. It seems Coinbase, blockchain.info and bitstamp were all under DDOS attacks. I just found out about Mastercoin today and I really wanted to be a part of the early bird special. Please take this into consideration to extend for 24 hours would be awesome.

Thank you, - Patel

[TomHirsch]

I really wanted to be a part of the early bird special.
Thank you, - Patel

Patel,
Don't worry, just like any other currency/security there are soon to be open markets.  You can buy mastercoin on buymastercoin.com  and other exchanges set up to trade mastercoin.   Of course, at a premium in view of the fact that early investors were more diligent than you and bought into a great project before the deadline.  There is a premium for everything - I guess.

[td services]

I really wanted to be a part of the early bird special.
Thank you, - Patel

Patel,
Don't worry, just like any other currency/security there are soon to be open markets.  You can buy mastercoin on buymastercoin.com  and other exchanges set up to trade mastercoin.   Of course, at a premium in view of the fact that early investors were more diligent than you and bought into a great project before the deadline.  There is a premium for everything - I guess.

How will sellers transfer Mastercoin to buyers? Will there be a new or modified wallet based on bitcoin-qt?

[really]

Maybe I am the first one who translated your paper into Chinese.

I found a mistake in your paper ,as" If the aggression factor is 100%, the escrow fund will take the maximum possible
action (buying every GoldCoin for sale above the target price, or selling new GoldCoins to every buyer
below the target price"

I think that if you want to make the price down,you should increase the money supply;and if you want to make the price rise ,you should decrease the money supply.
so am I right?

Thanks for your paper,it Let me learn a lot of things.

Anybody want the Chinese version of the paper you can download from the links below.


http://kuai.xunlei.com/d/Kt4gDJ9whbQiUgQAc1a

[ripper234]

Yo dawg, I heard you like nested layers of security, so we centralized your decentralized currency so you can be less paranoid about being more paranoid about your decentralized transaction... that's now centralized... just in case you think your privacy is more expensive than the illegal purchase you've made.

Legit question:
What is the exchange rate for Mastercoins and how is this determined?

No known real exchange rate at this point - nobody is selling.
I bet there will be a functional exchange pretty soon. Not going to speculate on the price though.

I want to say again congrats to Willet, I'll copy paste my reddit post.

Wow.

A huge congrats to Willet for his vision and execution thus far, you've managed to raise quite a hefty war-chest. David Johnston from BitAngels recently joined the effort, and together we raised a nice sum of money.

Everyone, please be just a bit patient regarding the timing of implementing the client and featureset - we want to get this right, there is no rush. Our first step will be the formal construction of a non-profit Mastercoin Foundation to hold the funds raised in 1Exodus. Any contribution of time and effort (e.g. editing the wiki) is always welcome.

I encourage all to read and expand the small FAQ I prepared. I will not necessarily answer all questions here, I'm rather busy these days. Please add any relevant questions to the FAQ and feel free to add your answers as well. Also, please subscribe to /r/mastercoin for more updates.