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maxmint
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October 19, 2013, 01:02:59 PM |
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zathras
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October 19, 2013, 01:45:53 PM |
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It looks like a valid transaction. 19ejn7TuHM1MhjuhfT99T7125yHikznf4H sequence number 94 (5E) is the change address 115eZwFLjHS2NWS1feH55LU7bKG45QsbBU sequence number 0 (00) is the reference address 1QFKJvAyJ1EBJ1iFDjgAzMULpGWLaivP7c sequence number 255 (FF) is the data address The reference address sequence number should be data address sequence number+1, but since the data address sequence number is 255 the next sequence number for the ref address is 0 (ie 256=0, 255+1=0). From the spec: Note that sequence number 255 is followed by 0.
I've coded for this scenario (as had mastercoin advisor) which is why the transaction looks OK in masterchest.info. Probably just that Tachikoma hasn't had time to code for this case yet in mastercoin-explorer. |
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jgarzik
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Activity: 1596
Merit: 1091
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October 19, 2013, 03:08:01 PM |
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I don't think we should use invalid ECDSA points if at all possible though as we'd be making it blindingly easy to censor mastercoin; the bitcoin devs could simply enforce ECDSA point validity checking on multisig pubkeys and we'd be in trouble.
This is already being implemented, in fact. Nothing to do with mastercoin. |
Jeff Garzik, Bloq CEO, former bitcoin core dev team; opinions are my own.
Visit bloq.com / metronome.io
Donations / tip jar: 1BrufViLKnSWtuWGkryPsKsxonV2NQ7Tcj
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HammerFist
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October 19, 2013, 03:12:07 PM |
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This is already being implemented, in fact. Nothing to do with mastercoin.
Good to have you in our thread Jeff. Thanks for checking in. |
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maxmint
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October 19, 2013, 04:16:26 PM |
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It looks like a valid transaction. 19ejn7TuHM1MhjuhfT99T7125yHikznf4H sequence number 94 (5E) is the change address 115eZwFLjHS2NWS1feH55LU7bKG45QsbBU sequence number 0 (00) is the reference address 1QFKJvAyJ1EBJ1iFDjgAzMULpGWLaivP7c sequence number 255 (FF) is the data address The reference address sequence number should be data address sequence number+1, but since the data address sequence number is 255 the next sequence number for the ref address is 0 (ie 256=0, 255+1=0). From the spec: Note that sequence number 255 is followed by 0.
I've coded for this scenario (as had mastercoin advisor) which is why the transaction looks OK in masterchest.info. Probably just that Tachikoma hasn't had time to code for this case yet in mastercoin-explorer. Thanks for the explanation, that makes sense. |
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Paleus
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www.diginomics.com
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October 20, 2013, 03:24:00 AM |
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Hello Guys,
I've been following mastercoin since the start of September and I am fascinated by the idea of using it to convert items to smart property which can exchange stocks/bonds/real estate/ect.
Is there an opportunity for a programmer with experience in Ruby and JavaScript to get involved?
I have alot of spare time lately but not alot of money and I'm looking for a project to pour my energy and expertise into.
Looking to join the Mastercoin team,
Please feel free to PM me or comment here.
Paleus
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HammerFist
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October 20, 2013, 06:36:12 AM |
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I have alot of spare time lately but not alot of money and I'm looking for a project to pour my energy and expertise into.
Don't worry about the money, you'll have plenty if you hang out here for long. But, I've got to warn you the competition is good. You'll have to program some slick stuff if you want to take an MSC bounty. The last contest just ended - a new is about to begin. Mastercoin project has over $800,000 in the bank so plenty to give away. |
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Paleus
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www.diginomics.com
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October 20, 2013, 09:18:14 AM |
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I have alot of spare time lately but not alot of money and I'm looking for a project to pour my energy and expertise into.
Don't worry about the money, you'll have plenty if you hang out here for long. But, I've got to warn you the competition is good. You'll have to program some slick stuff if you want to take an MSC bounty. The last contest just ended - a new is about to begin. Mastercoin project has over $800,000 in the bank so plenty to give away. Hammer, are you part of the team developing Mastercoin or are you working on Colored Coins? Do you have a link to the new contest or is it not open to the public yet? |
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Paleus
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www.diginomics.com
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October 20, 2013, 11:17:18 AM |
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Thanks Max, I'll check it out! PS, I enjoyed your song. Perhaps in time you'll get the chance to make a sequel, this time on Mastercoin. |
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prophetx
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he who has the gold makes the rules
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October 20, 2013, 11:44:27 AM
Last edit: October 20, 2013, 11:55:26 AM by prophetx |
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I'd use the word symbiotic rather than parasitic, since I believe we'll be good for bitcoin in the long run. I had a similar thought as I read it. "epiphytic" - is more accurate in my view. See: http://en.wikipedia.org/wiki/Epiphyte Mastercoin doesn't take nutrients from or otherwise 'feed' off the blockchain - it merely hangs thereon and takes nothing away therefrom. A true 'parasite' feeds off its host and takes essence therefrom. But this cannot be a surprise. Both Peter and Meni jump at every chance to play Mastercoin into poor light - even when that includes using terms which are not accurate. Indeed it is symbiotic at the network level. Because while msc tx are made up of btc tx which use resources, the btc network needs more tx to build maintain a monopoly/leader position in the market which is the true goal of any economic organism in a free market. Thus msc by bringing tx to the btc network is exchanging one thing of value (btc network security) for another thing of value (more users, more tx). On a side not I have notcied I the btc tx per block record that it has not increased lately. If we can move at least some stocks over to MSC, the number of tx per block will increase dramatically and you can bet that you will be a 10x or more growth I the price of btc. Msc as well, but I dont understand it's capitalization dynamics enough to make an educated guess yet. |
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NewLiberty
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Gresham's Lawyer
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October 20, 2013, 12:07:14 PM |
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Some questions that may help close the distance between the forks:
If this hostile fork is treated as, well, hostile; could the bitcoin network impose a minimum charge for carrying a Msc tx that be acceptable to everyone? Or alternatively not accept Msc transactions if it were not? (with the cost of choice being an imposed cost to the network)
Is developing the facility to recognize Msc transactions and account for them a cost imposed on the Bitcoin network for which it is compensated to their satisfaction?
Is that cost freely negotiated or simply imposed and the compensation chosen by msc?
Msc may be a net benefit for the Bitcoin network, but how knowable/agreeable is this at this time?
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NewLiberty
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Gresham's Lawyer
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October 20, 2013, 12:14:19 PM |
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I don't think we should use invalid ECDSA points if at all possible though as we'd be making it blindingly easy to censor mastercoin; the bitcoin devs could simply enforce ECDSA point validity checking on multisig pubkeys and we'd be in trouble.
This is already being implemented, in fact. Nothing to do with mastercoin. Why wouldn't making it "blindingly easy" to discriminate between transactions considered a feature? If msc is a net benefit for the Bitcoin network, this feature would assist in verifying that, yes? Not arguing for this method, just suggesting that this reason for avoiding it doesn't speak well of msc. |
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prophetx
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he who has the gold makes the rules
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October 20, 2013, 12:45:07 PM |
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I don't think we should use invalid ECDSA points if at all possible though as we'd be making it blindingly easy to censor mastercoin; the bitcoin devs could simply enforce ECDSA point validity checking on multisig pubkeys and we'd be in trouble.
This is already being implemented, in fact. Nothing to do with mastercoin. Why wouldn't making it "blindingly easy" to discriminate between transactions considered a feature? If msc is a net benefit for the Bitcoin network, this feature would assist in verifying that, yes? Not arguing for this method, just suggesting that this reason for avoiding it doesn't speak well of msc. I dont get it. What you are saying is... yes lets not conform to the standard and if people think our message is valuable enough they also will break away from the standard to accommodate us... |
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NewLiberty
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Activity: 1204
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Gresham's Lawyer
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October 20, 2013, 12:49:21 PM |
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I don't think we should use invalid ECDSA points if at all possible though as we'd be making it blindingly easy to censor mastercoin; the bitcoin devs could simply enforce ECDSA point validity checking on multisig pubkeys and we'd be in trouble.
This is already being implemented, in fact. Nothing to do with mastercoin. Why wouldn't making it "blindingly easy" to discriminate between transactions considered a feature? If msc is a net benefit for the Bitcoin network, this feature would assist in verifying that, yes? Not arguing for this method, just suggesting that this reason for avoiding it doesn't speak well of msc. I dont get it. What you are saying is... yes lets not conform to the standard and if people think our message is valuable enough they also will break away from the standard to accommodate us... You misread. Or perhaps I was unclear. I am not arguing for this method. I am suggesting this reason stated for avoiding it is not a good reason. The method may be bad for many other reasons as you rightly point out. It was offered as an example of how msc can do better at "playing well with others" and be better accepted. It ought not have to hide or avoid censorship.  It ought be welcomed and celebrated and invited. |
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really
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October 20, 2013, 12:57:16 PM |
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Reward MasterCoins
For every 10 MasterCoins sold, an additional “reward MasterCoin” will also be created, which will be
awarded to the Exodus Address slowly over the following years.
As you have said above，the Reward MasterCoins distribution is Centralized. every 10 MasterCoins sold the Reward MasterCoins will be awarded to the Exodus Address,that means Reward MasterCoins will all be yours. Why not consider Reward the traders in a reasonable percent?
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prophetx
Legendary
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Activity: 1666
Merit: 1010
he who has the gold makes the rules
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October 20, 2013, 01:42:46 PM |
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Reward MasterCoins
For every 10 MasterCoins sold, an additional “reward MasterCoin” will also be created, which will be
awarded to the Exodus Address slowly over the following years.
As you have said above，the Reward MasterCoins distribution is Centralized. every 10 MasterCoins sold the Reward MasterCoins will be awarded to the Exodus Address,that means Reward MasterCoins will all be yours. Why not consider Reward the traders in a reasonable percent?
As I understand it the reward goes to the Mastercoin Foundation and can be used for further accelerating MSC development. Trading is economically rewarding in and of itself, if one is rational and lucky, therefore it should not require a subsidy. Such a subsidy would reward unnecessary trading. |
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HammerFist
Newbie
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October 20, 2013, 02:47:32 PM |
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Reward MasterCoins
For every 10 MasterCoins sold, an additional “reward MasterCoin” will also be created, which will be
awarded to the Exodus Address slowly over the following years.
As you have said above，the Reward MasterCoins distribution is Centralized. every 10 MasterCoins sold the Reward MasterCoins will be awarded to the Exodus Address,that means Reward MasterCoins will all be yours. Why not consider Reward the traders in a reasonable percent?
Apparently, Silk Road's closure has done little to reduce the consumption of drugs. |
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ASICSRUS
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Expert Computer Geek
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October 20, 2013, 05:40:37 PM |
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I have alot of spare time lately but not alot of money and I'm looking for a project to pour my energy and expertise into.
Don't worry about the money, you'll have plenty if you hang out here for long. But, I've got to warn you the competition is good. You'll have to program some slick stuff if you want to take an MSC bounty. The last contest just ended - a new is about to begin. Mastercoin project has over $800,000 in the bank so plenty to give away. wow nice is there anything I could do to promote for you guys i've been dropping hints on the options desk!  thank you! looking good/\ |
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dillpicklechips
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October 20, 2013, 09:49:02 PM |
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I'm cross posting a question here for more visibility and further discussion. I like Mastercoins and colored coins and think they are the next frontier for crypto-currencies. I hope they both succeed. My main confusion seems to be one of value. Colored coins are essentially priced to be lowest BTC value that the network will confirm. They are just clever movements of BTC. Mastercoins on the other hand have scarcity built in from the exodus address and are traded.
Alt-mastercoins are a real possibility. Traditional alt-currencies needed miner support to thrive. The larger the miner support, the stronger the security. Coins like Mastercoins get their security for free from the BTC network. Because the project is open source anyone can alter the project and create alt-mastercoins. They don't need any miner support at all and instantly will get the same security and features.
Could an Alt-Mastercoin exist that doesn't doesn't need scarcity? One that uses a "generation address" and to enter the alt-mastercoin ecosystem you just send BTC to it? It would make using all of Mastercoin's features dirt cheap with all the advantages of a tradition Mastercoin. Almost a colored coin/mastercoin hybrid.
I'm just wondering if the scarcity is unenforceable as a more free alternative will just take away market share after all the development is done? Although the exodus address was useful for funding development, I'm skeptical it will behave like a traditional crypto-currency and grow to extreme values.
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