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

[amgil]

When i use MastercoinAdvisor
The consol shut down right after enter the receving address
i have to make a quick screenshoot for save the information needed
I'm alone with this problem ?
Thanks
Also how to copy/past in the console ?

It depends how you launch it; Double clicking the script file simply executes it and returns to the (Windows) shell. Either use a command prompt to launch the advisor script (py or python [path to MastercoinAdvisor], assuming python is in your PATH) or open the GUI IDLE python shell and load to advisor there to execute.

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[bitcool]

What about a network of Mastercoin super-nodes gateways, not for Fiat but for adjoining the currently Bitcoin situated Mastercoin protocol, with other crypto-currency block-chains? This would facilitate distributed any-coin <-> any-coin trades, as currently roughly implemented for BTC <-> MSC. With this type of gateway, Bitcoin can continue its main lead as a store of value, even if other alts eventually prove better as means of exchange.

While this is probably technically feasible, it won't be high on the priority list for MSC implementation.

One of the main reason it was decided to implement MSC on top of BTC instead of a separate blockchain, was the snubness toward altcoins the btc elite had.

[dacoinminster]

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now. 

[marcelus]

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now. 

[marcelus]

I just had an interesting idea for Mastercoin Gateways.

You might be familiar with the concept of Ripple Gateways.
The primary function of a Ripple Gateway is accepting Fiat from customers, and "converting" it to "Fiat IOUs" which are then sent to clients.
You can come into this Gateway, wire it USD, and get USD IOUs in return.

Well, we can easily translate that idea into trust-less Mastercoin Gateways.

A Mastercoin Gateway would be a business or entity that accepts fiat and sends back the same fiat in the form of a CFD or backed currency.
I call it "trust-less" because once the deal is finished, you no longer need to have any trust or relation with the Gateweay, unlike Ripple Gateways which require the Gateway to keep functioning because it owes you money.

Real world Mastercoin exchanges could double as Gateways - regulation for these might vary, or might be the same, per state and regulatory environment.

This seems eminently sensible. It's silly to rely on bitcoin alone as the sole way to attain mastercoins or mastercoin-derived currencies.

[bitcool]

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now. 

Those boxes may not be as safe as you think:

http://www.marketwatch.com/story/a-safe-deposit-box-is-not-the-safest-place-to-stash-your-cash

http://www.heraldtribune.com/article/20130527/ARTICLE/305279995

http://deadlyclear.wordpress.com/2012/08/12/bank-of-america-drills-open-customer-safe-deposit-box-and-removes-contents/

http://www.gainesville.com/article/20130201/ARTICLES/130209959

[StewartJ]

I have code ready which can send MasterCoins. Here is what it looks like in action (ignore the first line which is from a previous run):



Source code is here: https://github.com/dacoinminster/MasterCoin-Adviser/blob/master/MasterCoinAdvisor.py
And here: https://github.com/dacoinminster/MasterCoin-Adviser/blob/master/base58_found.py

In order to use this source code, you will need to install python 2.7 and also pycrypto for python 2.7, which I got here: http://www.voidspace.org.uk/python/modules.shtml#pycrypto

On one PC I had to mess with my PATH environment variable to find python and the pycrypto libraries, but when I tried it again on a different PC, I didn't have to mess with the PATH variable at all. Your mileage may vary.

If you wish to avoid compiling, and you are a trusting sort of person, you can use the executable I made using py2exe: https://github.com/dacoinminster/MasterCoin-Adviser/raw/master/MasterCoinAdvisorExecutable.zip - I think the executable will only work if you have the right version of Microsoft's C Runtime DLL: http://www.microsoft.com/downloads/en/details.aspx?FamilyID=9b2da534-3e03-4391-8a4d-074b9f2bc1bf&displaylang=en

Those of you who are affected by the Android wallet security problem should try this out right away. Let me know if you see anything weird.

Please note that I still have some testing to do of this code - I just wanted to make sure you guys got hold of this functionality as soon as possible! If something isn't right in this code, I'll try to make sure that nothing you do gets lost. Still, sending MasterCoins from one address to another to another to another might not be a good idea yet!

There are some debug outputs commented out in the code right now, but you might want to turn them back on if you are playing with this code.

This code does NOT parse the block chain to see if you actually have MasterCoins to send, or track MasterCoins which have been sent. That is the next milestone after the giveaway thread.

I am attempting to use your software to send MSC to someone who paid me for them.

I downloaded your py2exe executable and this does not work.... when I get to the 3rd prompt after pasting the BTC address and hittingenter...the whole executable just disappears. Using Windows 7 here.

So now I am trying to figure out the python thing with the source code, but this is just getting very complicated and frustrating. IM not a programmer.

I need help to get this to someone...can you please help me???

Thanks
StewartJ

[W2014]

^ you need to open the program via "Command Prompt," navigate to the correct directory and then run the program by typing "MastercoinAdvisor.exe." I hope that helps.

[StewartJ]

^ you need to open the program via "Command Prompt," navigate to the correct directory and then run the program by typing "MastercoinAdvisor.exe." I hope that helps.

that did the trick...thanks!!!

MSC sent!

[superfluouso]

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now. 

Mind sharing what your preferred cold-storage wallet of choice is?  Planning to do the same and am also wondering how much BTC, if any, I should keep on the same wallets..

[ripper234]

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now. 

Do you have backup in case the bank burns or decides not to allow you access?
I assume you are referring to your MSC and not the Foundation's.

[zathras]

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now.  

In the interests of transparency, please post the bank name, address, safe deposit box numbers & closing time - you know - for the record </cough>.

[ripper234]

I just had this idea of a timing attack against the distributed exchange.
I don't remember if this was discussed before (maybe in the spec? no time to re-read it now).

What do you think/

http://qr.ae/GsmxZ

Is there a risk of a race condition in the Mastercoin distributed exchange?

Alice posts a bid, which Bob attempts to match by sending her the required currency.

Alice can try to "listen in" to the network, detect Bob's send transaction, and withdraw her bid at the very last millisecond before Bob's transaction is finalized in a block. If she succeeds in this timing attack, Bob just sent Alice some coins, but Alice's bid is no longer active, and so her coins are sent back to her, instead of to Bob.

Is this a real risk? How can we mitigate it? Perhaps we can make sure any operation that cancels an outstanding bid only take affect if it is at least N seconds (or 1 block) ahead of an operation that attempts to match that bid?

[W2014]

How about posting some of the jobs/bounties on some of the websites in this link?

http://bitcoinexaminer.org/looking-to-work-and-get-paid-in-bitcoin-here-are-six-websites-that-can-help-you/

I noticed several jobs developing for Ripple Labs, Inc. and Coinbase at Coinality:

http://coinality.com/

https://coinality.com/jobs/

Can you help us by doing this yourself?

I will email our PR company directly and ask them whether they can help advertising our specific jobs / bounties and not just the project in general.

I will look into it and report back here.

[zathras]

I just had this idea of a timing attack against the distributed exchange.
I don't remember if this was discussed before (maybe in the spec? no time to re-read it now).

What do you think/

http://qr.ae/GsmxZ

Is there a risk of a race condition in the Mastercoin distributed exchange?

Alice posts a bid, which Bob attempts to match by sending her the required currency.

Alice can try to "listen in" to the network, detect Bob's send transaction, and withdraw her bid at the very last millisecond before Bob's transaction is finalized in a block. If she succeeds in this timing attack, Bob just sent Alice some coins, but Alice's bid is no longer active, and so her coins are sent back to her, instead of to Bob.

Is this a real risk? How can we mitigate it? Perhaps we can make sure any operation that cancels an outstanding bid only take affect if it is at least N seconds (or 1 block) ahead of an operation that attempts to match that bid?

This is only a risk if Bob sends his currency payment before his 'accept offer' transaction was confirmed as valid in the blockchain (which our respective software should never do).  Once the 'accept offer' is confirmed in the blockchain her coins are effectively reserved & Alice can only cancel her sell once the payment time limit has expired.

[GCInc.]

Could someone point us to information on how to receive / send Mastercoins at this point in time?

We would like to obtain MSC but with ambigous info on what kind of Bitcoin addresses can even receive them, cannot risk losing the precious BTC for using a wrong type of BTC wallet.

- can Mastercoins be received to an Electrum address with its private key known to the owner?
- does Mastercoin receiving address need to be brand new ie. never seen in the network?

Thanks.

[Tachikoma]

Could someone point us to information on how to receive / send Mastercoins at this point in time?

We would like to obtain MSC but with ambigous info on what kind of Bitcoin addresses can even receive them, cannot risk losing the precious BTC for using a wrong type of BTC wallet.

- can Mastercoins be received to an Electrum address with its private key known to the owner?

Yes. As long as you have access to the private key it should work.

- does Mastercoin receiving address need to be brand new ie. never seen in the network?

It doesn't need to be but it would be good practice.

You can use the original Mastercoin advisor by J.R. to send coins. If you are on OS X or Linux you can try my wallet software. And soon you will be able to use Zathras's wallet on Windows.

[ripper234]

I just had this idea of a timing attack against the distributed exchange.
I don't remember if this was discussed before (maybe in the spec? no time to re-read it now).

What do you think/

http://qr.ae/GsmxZ

Is there a risk of a race condition in the Mastercoin distributed exchange?

Alice posts a bid, which Bob attempts to match by sending her the required currency.

Alice can try to "listen in" to the network, detect Bob's send transaction, and withdraw her bid at the very last millisecond before Bob's transaction is finalized in a block. If she succeeds in this timing attack, Bob just sent Alice some coins, but Alice's bid is no longer active, and so her coins are sent back to her, instead of to Bob.

Is this a real risk? How can we mitigate it? Perhaps we can make sure any operation that cancels an outstanding bid only take affect if it is at least N seconds (or 1 block) ahead of an operation that attempts to match that bid?

This is only a risk if Bob sends his currency payment before his 'accept offer' transaction was confirmed as valid in the blockchain (which our respective software should never do).  Once the 'accept offer' is confirmed in the blockchain her coins are effectively reserved & Alice can only cancel her sell once the payment time limit has expired.

Thanks. It's been a while since I reviewed the spec, I forgot about the "Accept Offer" transaction - for some reason I assumed you accept the offer by sending out coins.

Sorry to be so ignorant of important parts of the spec, thanks for educating me!

[littleblue]

Could someone point us to information on how to receive / send Mastercoins at this point in time?

We would like to obtain MSC but with ambigous info on what kind of Bitcoin addresses can even receive them, cannot risk losing the precious BTC for using a wrong type of BTC wallet.

- can Mastercoins be received to an Electrum address with its private key known to the owner?

Yes. As long as you have access to the private key it should work.

- does Mastercoin receiving address need to be brand new ie. never seen in the network?

It doesn't need to be but it would be good practice.

You can use the original Mastercoin advisor by J.R. to send coins. If you are on OS X or Linux you can try my wallet software. And soon you will be able to use Zathras's wallet on Windows.

  “ Zathras's wallet on Windows.”   I can not wait...

[GCInc.]

Yes. As long as you have access to the private key it should work.

Ok. What is the private key needed for? Is it needed for sending out the Mastercoins from my Electrum wallet through Mastercoin Advisor?