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

[BitThink]

How many MCs were given for every BTC donated to the Exodus address?

100

One more question... how do I get a MC wallet, or do I need one?

MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.

For example, if you have address A, B, and C in a wallet and A address have some MSC in it. When you want to send someone MSC, you have to send a small amount of BTC from A, and not all clients allow you to specify A as the sending address.

[Vigil]

How many MCs were given for every BTC donated to the Exodus address?

100

One more question... how do I get a MC wallet, or do I need one?

MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.

OK. I sent my MCs to a bitcoin address but it just says that they are bitcoins. How is anyone supposed to tell the difference between MC and bitcoins if they aren't distinguished?

[BitThink]

How many MCs were given for every BTC donated to the Exodus address?

100

One more question... how do I get a MC wallet, or do I need one?

MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.

OK. I sent my MCs to a bitcoin address but it just says that they are bitcoins. How is anyone supposed to tell the difference between MC and bitcoins if they aren't distinguished?

You can check your MSC balance with http://mymastercoins.com/,   http://mastercoin-explorer.com/, and http://masterchest.info

To a normal BTC client, what you received are just a very small amount of BTC, but according to the MSC protocol, you received certain amount of MSC and the amount was encoded in the blockchain and has nothing to do with the amount of BTC you received. That small number of BTC is just there to satisfy the anti-dust requirement.

[Vigil]

How many MCs were given for every BTC donated to the Exodus address?

100

One more question... how do I get a MC wallet, or do I need one?

MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.

OK. I sent my MCs to a bitcoin address but it just says that they are bitcoins. How is anyone supposed to tell the difference between MC and bitcoins if they aren't distinguished?

You can check your MSC balance with http://mymastercoins.com/,   http://mastercoin-explorer.com/, and http://masterchest.info

To a normal BTC client, what you received are just a very small amount of BTC, but according to the MSC protocol, you received certain amount of MSC and the amount was encoded in the blockchain and has nothing to do with the amount of BTC you received. That small number of BTC is just there to satisfy the anti-dust requirement.

OK, I think I get it. The MCs are basically piggy-backed on that negligible amount of BTC to my address and the BC...

[BitThink]

How many MCs were given for every BTC donated to the Exodus address?

100

One more question... how do I get a MC wallet, or do I need one?

MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.

OK. I sent my MCs to a bitcoin address but it just says that they are bitcoins. How is anyone supposed to tell the difference between MC and bitcoins if they aren't distinguished?

You can check your MSC balance with http://mymastercoins.com/,   http://mastercoin-explorer.com/, and http://masterchest.info

To a normal BTC client, what you received are just a very small amount of BTC, but according to the MSC protocol, you received certain amount of MSC and the amount was encoded in the blockchain and has nothing to do with the amount of BTC you received. That small number of BTC is just there to satisfy the anti-dust requirement.

OK, I think I get it. The MCs are basically piggy-backed on that negligible amount of BTC to my address and the BC...

If you look at the transaction detail, you will find it is a send-to-many transactions. One transaction to The Exodus Address to indicate it's a MSC transaction, one transaction to your address to indicate the recipient, and a transaction to another address and that address is made up to include the amount and other informations.

[addzz]

the faucet works great!

I tried it out yesterday and the process was easy to use and understand.

[W2014]

At Bitcoin conference, two 'gurus' draw a crowd

http://www.usatoday.com/story/tech/2013/12/11/the-bitcoin-world-has-its-own-brand-of-gurus/3987573/

Mastercoin Foundation, Bitshares and ColoredCoins Form Self-Regulatory Organization to Ensure Continued Free Operation of New Bitcoin Applications and Protocols

http://sg.finance.yahoo.com/news/mastercoin-foundation-bitshares-coloredcoins-form-160000194.html

[W2014]

Viva Mastercoin and Bitcoin Gurus in Las Vegas

http://blog.mastercoin.org/2013/12/12/viva-mastercoin-and-bitcoin-gurus-in-las-vegas/

[Luckybit]

Regarding hiring without consulting the community, there is a reason that companies hire a CEO to make all the decisions, rather than having all stakeholders weigh in on every hire. We are giving Ron room as Executive Director to do his job, and even if he makes mistakes on the way (and he undoubtedly will) I vastly prefer that to decision-by-committee.

Ron and David both told me two days ago that their goal is to dissolve the foundation and have *all* decisions determined by proof-of-stake voting. They are trying to put the governance of the protocol into the protocol itself.

Proof-of-stake voting will almost certainly not ask every person to weigh in on every decision (that would be horribly inefficient). Instead, we'll elect someone to be in charge of a block of money for a block of time. At the end of that time, we'll elect someone else (or the same person, if we like how they ran things) for the next block of money and block of time. The size of the blocks of money and blocks of time will also be decided by proof-of-stake voting.

For instance, we might vote to give Ron authorization to spend 5% of the project funds over the following three months. If Ron does a terrible job, we might elect somebody else after that. If we like how Ron spent the money, we might elect him again.

Couldn't we use multisig transactions for this?

[prophetx]

Viva Mastercoin and Bitcoin Gurus in Las Vegas

http://blog.mastercoin.org/2013/12/12/viva-mastercoin-and-bitcoin-gurus-in-las-vegas/

thanks for posting this, i was wondering how long bitcointalk would be down for

the post has a lot of info in it, but if i missed something (esp due to this forum being down) let me know

[marcelus]

At Bitcoin conference, two 'gurus' draw a crowd

http://www.usatoday.com/story/tech/2013/12/11/the-bitcoin-world-has-its-own-brand-of-gurus/3987573/

Mastercoin Foundation, Bitshares and ColoredCoins Form Self-Regulatory Organization to Ensure Continued Free Operation of New Bitcoin Applications and Protocols

http://sg.finance.yahoo.com/news/mastercoin-foundation-bitshares-coloredcoins-form-160000194.html

Great stuff.

[dacoinminster]

We're currently discussing whether we should change the data feed update frequency. I'm looking for broad community feedback on this. Please vote here: https://bitcointalk.org/index.php?topic=369991.0

[001sonkit]

From what i see at blockchain.info, something very interesting.
1CasperDEhyGD81WNPo9qkaFnWxUSWmrqk 0.0000546 BTC
1EXoDusjGwvnjZUyKkxZ4UHEf77z6A5S4P  0.0000546 BTC
(Escrow 1 of 1GzN8khcB7... 1F9jCeixNb...) 0.0001092 BTC
1F9jCeixNbK6GEkdQFq1ejkbJjAGwVVVqG 0.01958719 BTC

what does the escrow line means. First time I saw

[Tachikoma]

Class B transactions use multisig outputs to encode the Mastercoin data. Blockchain shows this type of output as Escrow.

[romerun]

if msc is to be traded on centralized exchanges, what is the best way to make deposit/withdraw work ? Is it necessary to check if the input does not contain some withholding amounts from saving addresses ?

[pythonista]

I have read that Mastercoin will take in price updates in order to allow decentralized betting on other commodities etc.

Will we also be able to use Mastercoin to gamble on discreet outcomes, eg Intrade style betting on sports / politics etc ? How will Mastercoin get the feed for that?

[junsha]

What unit will be for the coming wallet,   MSC or mMSC ?

[td services]

Could someone please remove buymastercoin.com from the mastercoin.org website? Buymastercoin.com has been a continued source of complaints and is damaging the credibility of Mastercoin, https://bitcointalk.org/index.php?topic=287145.2400 .

[dacoinminster]

if msc is to be traded on centralized exchanges, what is the best way to make deposit/withdraw work ? Is it necessary to check if the input does not contain some withholding amounts from saving addresses ?

Probably, but since savings addresses haven't been implemented yet, that's not really a concern at the moment.

I have read that Mastercoin will take in price updates in order to allow decentralized betting on other commodities etc.

Will we also be able to use Mastercoin to gamble on discreet outcomes, eg Intrade style betting on sports / politics etc ? How will Mastercoin get the feed for that?

Any user can create a data feed about anything, including sports/politics, which people can then bet on (please follow the laws in your local jurisdiction!)

Could someone please remove buymastercoin.com from the mastercoin.org website? Buymastercoin.com has been a continued source of complaints and is damaging the credibility of Mastercoin, https://bitcointalk.org/index.php?topic=287145.2400 .

Strangely enough, we just changed that link to point to a wiki page instead with a list of brokers  (http://wiki.mastercoin.org/index.php/Buying_and_selling_Mastercoin), now that there are two (btc-market.net is the other one). Note that the change to the webpage seems to be propogating slowly across various caches.

[prophetx]

if msc is to be traded on centralized exchanges, what is the best way to make deposit/withdraw work ? Is it necessary to check if the input does not contain some withholding amounts from saving addresses ?

Probably, but since savings addresses haven't been implemented yet, that's not really a concern at the moment.

I have read that Mastercoin will take in price updates in order to allow decentralized betting on other commodities etc.

Will we also be able to use Mastercoin to gamble on discreet outcomes, eg Intrade style betting on sports / politics etc ? How will Mastercoin get the feed for that?

Any user can create a data feed about anything, including sports/politics, which people can then bet on (please follow the laws in your local jurisdiction!)

Could someone please remove buymastercoin.com from the mastercoin.org website? Buymastercoin.com has been a continued source of complaints and is damaging the credibility of Mastercoin, https://bitcointalk.org/index.php?topic=287145.2400 .

Strangely enough, we just changed that link to point to a wiki page instead with a list of brokers  (http://wiki.mastercoin.org/index.php/Buying_and_selling_Mastercoin), now that there are two (btc-market.net is the other one). Note that the change to the webpage seems to be propogating slowly across various caches.

hey all,

there is a growing list of mastercoin community websites from the faucet to the explorers

if you notice anything I may have missed please send an email with a link to info(at)mastercoin.org

thanks!