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

[npl]

Absolutely, but it's going to take some time to develop. Please follow the development of the user currencies feature in particular as it might be the feature you're looking for.

Thanks. Is there a centralized location where I can follow updates? Is a rough timeframe available?
In the MasterCoin Spec doc user-created currencies are described as the most important feature- so is this a priority on the dev timeline?

[prophetx]

Absolutely, but it's going to take some time to develop. Please follow the development of the user currencies feature in particular as it might be the feature you're looking for.

Thanks. Is there a centralized location where I can follow updates? Is a rough timeframe available?
In the MasterCoin Spec doc user-created currencies are described as the most important feature- so is this a priority on the dev timeline?

You project sounds great!

As far as updates:

Try out blog.mastercoin.org  we have updates there and also links to groups on facebook, google or linkedin, so whichever you prefer.  I will be adding quora, twitter and others soon.

Right now the devs are working on p2p exchange.

I believe currencies and smart property come after that.

[ripper234]

Absolutely, but it's going to take some time to develop. Please follow the development of the user currencies feature in particular as it might be the feature you're looking for.

Thanks. Is there a centralized location where I can follow updates? Is a rough timeframe available?
In the MasterCoin Spec doc user-created currencies are described as the most important feature- so is this a priority on the dev timeline?

You project sounds great!

As far as updates:

Try out blog.mastercoin.org  we have updates there and also links to groups on facebook, google or linkedin, so whichever you prefer.  I will be adding quora, twitter and others soon.

Right now the devs are working on p2p exchange.

I believe currencies and smart property come after that.

Yeah. Although note that "currencies" will be first implemented as CFDs and not the original "backed currencies" concept, which may follow later on.

[Luckybit]

Absolutely, but it's going to take some time to develop. Please follow the development of the user currencies feature in particular as it might be the feature you're looking for.

Thanks. Is there a centralized location where I can follow updates? Is a rough timeframe available?
In the MasterCoin Spec doc user-created currencies are described as the most important feature- so is this a priority on the dev timeline?

You project sounds great!

As far as updates:

Try out blog.mastercoin.org  we have updates there and also links to groups on facebook, google or linkedin, so whichever you prefer.  I will be adding quora, twitter and others soon.

Right now the devs are working on p2p exchange.

I believe currencies and smart property come after that.

Yeah. Although note that "currencies" will be first implemented as CFDs and not the original "backed currencies" concept, which may follow later on.

In this case it seems they are requesting the backed currencies feature. CFDs seem to be more for reproducing USD because it can provide absolute stability in the price 1:1 with the USD.

I think CFD is probably easier to implement and less controversial so I do not blame the foundation for choosing to implement it first.

[npl]

Absolutely, but it's going to take some time to develop. Please follow the development of the user currencies feature in particular as it might be the feature you're looking for.

Thanks. Is there a centralized location where I can follow updates? Is a rough timeframe available?
In the MasterCoin Spec doc user-created currencies are described as the most important feature- so is this a priority on the dev timeline?

You project sounds great!

As far as updates:

Try out blog.mastercoin.org  we have updates there and also links to groups on facebook, google or linkedin, so whichever you prefer.  I will be adding quora, twitter and others soon.

Right now the devs are working on p2p exchange.

I believe currencies and smart property come after that.

Yeah. Although note that "currencies" will be first implemented as CFDs and not the original "backed currencies" concept, which may follow later on.

In this case it seems they are requesting the backed currencies feature. CFDs seem to be more for reproducing USD because it can provide absolute stability in the price 1:1 with the USD.

I think CFD is probably easier to implement and less controversial so I do not blame the foundation for choosing to implement it first.

I think I understand what you mean, though in this particular implementation (my project) I do not require a 'backed currency,' since commodity pegging would only be done once, at the point of issue of the shares - it would not need to keep on tracking the price of the commodity after that. The price of the share would subsequently be determined through supply and demand - what it trades for on the exchange.  I suppose the feature I am therefore seeking is really the 'smart property' capability.

While the CFD may be easier to implement as you say, it is in my opinion far less innovative and doesn't showcase the potential MC compared to the user issued currency/commodity possibilities. Of course, given what I am seeking to do I am biased towards that option - but it seems to me that J.R. at least recognized the same in his whitepaper.



 

[seleme]

Could anyone explain me please in average Joe words how can I purchase MC, does it have it's own client, where my MCs would be stored etc,e tc as I don't understand a shit about this but would test my luck investing few satoshis.

[Tachikoma]

Could anyone explain me please in average Joe words how can I purchase MC, does it have it's own client, where my MCs would be stored etc,e tc as I don't understand a shit about this but would test my luck investing few satoshis.

Right now you can do OTC purchases via this order book. In a few days there will be a distributed exchange build in to at least two wallets so that you can buy Mastercoins using zero trust. This also answers your other question; yes there are wallets (under heavy development). Your Mastercoins are stored on a normal Bitcoin address that you pick choose using a normal client.

For more info check the wiki.

[ripper234]

Could anyone explain me please in average Joe words how can I purchase MC, does it have it's own client, where my MCs would be stored etc,e tc as I don't understand a shit about this but would test my luck investing few satoshis.

Right now you can do OTC purchases via this order book. In a few days there will be a distributed exchange build in to at least two wallets so that you can buy Mastercoins using zero trust. This also answers your other question; yes there are wallets (under heavy development). Your Mastercoins are stored on a normal Bitcoin address that you pick choose using a normal client.

For more info check the wiki.

Unfortunately as far as I know the only real way to do orders right now is buymastercoin.com/
From what I hear it's very hard to get liquidity otherwise.

HUGE DISCLAIMER: The owner of buymastercoin is a friend of mine, and most of my information about the market is from him. So buyer beware, do your homework. If you manage to buy via OTC in a cheaper price, power to you!

[Tachikoma]

I've just put the online 'Simple Send' generator online for those who want to do the the occasional 'Simple Send' without a separate Mastercoin wallet and who have an option to sign a raw transaction. As always I recommend a few test payments before you go crazy

Could anyone explain me please in average Joe words how can I purchase MC, does it have it's own client, where my MCs would be stored etc,e tc as I don't understand a shit about this but would test my luck investing few satoshis.

Right now you can do OTC purchases via this order book. In a few days there will be a distributed exchange build in to at least two wallets so that you can buy Mastercoins using zero trust. This also answers your other question; yes there are wallets (under heavy development). Your Mastercoins are stored on a normal Bitcoin address that you pick choose using a normal client.

For more info check the wiki.

Unfortunately as far as I know the only real way to do orders right now is buymastercoin.com/
From what I hear it's very hard to get liquidity otherwise.

HUGE DISCLAIMER: The owner of buymastercoin is a friend of mine, and most of my information about the market is from him. So buyer beware, do your homework. If you manage to buy via OTC in a cheaper price, power to you!

This is a good alternative but do consider you are paying twice the amount as you would if you would use OTC.

[Tachikoma]

x-post from my Mastercoin software thread but I've just released an update to my wallet software for Linux/OS X. I've enabled sending real Mastercoins through for Simple Send transactions. Distributed exchange will stay on Test Mastercoins only for now since the spec is still not finished on this topic.

[vokain]

Could anyone explain me please in average Joe words how can I purchase MC, does it have it's own client, where my MCs would be stored etc,e tc as I don't understand a shit about this but would test my luck investing few satoshis.

for relevancy

[Tachikoma]

 

[dacoinminster]

Our public ledger now computes the vested "dev Mastercoin" balance available for spending on bounties: https://docs.google.com/spreadsheet/ccc?key=0AtCyUJvk_IyNdGpVcnpBN2tOczFmbVRnck5TWjZuRFE#gid=1

Note that I assumed a year is 365.25 days when computing time since Exodus. This may not be the exact formula we use in the code, but it should be pretty close.

[ripper234]

I want to invite everyone to this thread about Bitcoin scalability:

I predict a lot of strain on the Bitcoin network soon due to Mastercoin

[klee]

I want to hear dacoinminster et al opinion on blacklists, redlists, whitelists etc
How does this may interact with Mastercoin platform?

[seleme]

Could anyone explain me please in average Joe words how can I purchase MC, does it have it's own client, where my MCs would be stored etc,e tc as I don't understand a shit about this but would test my luck investing few satoshis.

Right now you can do OTC purchases via this order book. In a few days there will be a distributed exchange build in to at least two wallets so that you can buy Mastercoins using zero trust. This also answers your other question; yes there are wallets (under heavy development). Your Mastercoins are stored on a normal Bitcoin address that you pick choose using a normal client.

For more info check the wiki.

Thanks. I'm utter tech noob and barely understand anything about MC so I'll wait those wallets and exchanges to be developed, don't want to screw something and stay without both btc and mc

[BitThink]

What're your thinking about this post: https://bitcointalk.org/index.php?topic=334316.0

If address reusing is restricted by miners, what will happen to mastercoin?

[Tachikoma]

Our public ledger now computes the vested "dev Mastercoin" balance available for spending on bounties: https://docs.google.com/spreadsheet/ccc?key=0AtCyUJvk_IyNdGpVcnpBN2tOczFmbVRnck5TWjZuRFE#gid=1

Note that I assumed a year is 365.25 days when computing time since Exodus. This may not be the exact formula we use in the code, but it should be pretty close.

I have a slightly different amount on Mastercoin-explorer for the Dev coins. Although the current balance will always be an approximation since we locked it to block-time. I will check with the other devs my calculations is still ok.

[dillpicklechips]

What're your thinking about this post: https://bitcointalk.org/index.php?topic=334316.0

If address reusing is restricted by miners, what will happen to mastercoin?

Not restricted, but MSC transactions could become a low priority transaction potentially taking longer to complete.

[BitThink]

What're your thinking about this post: https://bitcointalk.org/index.php?topic=334316.0

If address reusing is restricted by miners, what will happen to mastercoin?

Not restricted, but MSC transactions could become a low priority transaction potentially taking longer to complete.

Every transaction will send something to the "The Exodus Address" (correct me please if I am wrong). Therefore, all transactions will be given lower priority by those miners. The current patch they are proposing includes only one transaction in one block, that already will make MSC transactions become super slow. If they take more aggressive method, things will be worse.