Bitcoin Forum
July 18, 2019, 08:45:01 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: 2013-08-25 MasterCoin to create new altcoins in Bitcoin’s block chain  (Read 1576 times)
patricktim
Sr. Member
****
Offline Offline

Activity: 434
Merit: 250


View Profile
August 26, 2013, 07:44:48 AM
 #1

http://www.coindesk.com/mastercoin-to-create-new-altcoins-in-bitcoins-block-chain/

1563482701
Hero Member
*
Offline Offline

Posts: 1563482701

View Profile Personal Message (Offline)

Ignore
1563482701
Reply with quote  #2

1563482701
Report to moderator
1563482701
Hero Member
*
Offline Offline

Posts: 1563482701

View Profile Personal Message (Offline)

Ignore
1563482701
Reply with quote  #2

1563482701
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
LiteCoinGuy
Legendary
*
Offline Offline

Activity: 1148
Merit: 1001


In Satoshi I Trust


View Profile WWW
August 26, 2013, 09:35:19 AM
 #2

another scam coin....i have so sell my feathercoins now Tongue

zeroday
Donator
Hero Member
*
Offline Offline

Activity: 784
Merit: 1000


EU: Welcome to the world of financial slavery


View Profile
August 26, 2013, 12:01:39 PM
 #3

Quote
This is a MasterCoin feature that adds an extra layer of protection to those storing their wealth in digital currency. With savings addresses, MasterCoin has the ability to reverse transactions

Quote
When the value of the “commodity coin” goes too high, the currency’s escrow fund will start creating new commodity coins in exchange for MasterCoins. When the value is too low, it will trade MasterCoins in exchange for commodity coins, then destroy those coins. Through this control of supply and demand, a MasterCoin derived currency can sustain a balanced value.

What idiots! They are just re-inventing fiat. Regulated shitcoin "backed" by bitcoin, the same way as USD was "backed" by gold.


Rygon
Hero Member
*****
Offline Offline

Activity: 520
Merit: 500


View Profile
August 26, 2013, 03:50:03 PM
 #4

Just seems like another centralized altcoin where the developer stands to gain the most. There is also over 2000 BTC raised for the project on the implied promise of future gains. That's enough reason to be suspicious and wonder if it's a scam.
TraderTimm
Legendary
*
Offline Offline

Activity: 2394
Merit: 1066



View Profile
August 26, 2013, 08:42:46 PM
 #5

Also known as "Blockchain Bloat Squared" if it actually takes off.

Step 1. Exploit the existing hashing power of the Bitcoin network

Step 2. Contribute... nah, just make something you can profit off of, contributing is for idiots

Step 3. Profit at the expense of all the Bitcoin miners and full nodes

Hard Forks? Oops!, we'll be counting our money over here while you nerds go fix something we fucked up for everyone.

Programmers stuffing data into the blockchain without anyone able to opt-out is complete and utter bullshit. Stop doing this, you fucking fucks.

fortitudinem multis - catenum regit omnia
KFR
Hero Member
*****
Offline Offline

Activity: 560
Merit: 500


Per ardua ad luna


View Profile
August 28, 2013, 02:07:52 PM
 #6

Also known as "Blockchain Bloat Squared" if it actually takes off.

Step 1. Exploit the existing hashing power of the Bitcoin network

Step 2. Contribute... nah, just make something you can profit off of, contributing is for idiots

Step 3. Profit at the expense of all the Bitcoin miners and full nodes

Hard Forks? Oops!, we'll be counting our money over here while you nerds go fix something we fucked up for everyone.

Programmers stuffing data into the blockchain without anyone able to opt-out is complete and utter bullshit. Stop doing this, you fucking fucks.


Bang on.  Agree 100%.

It's ballz.  Cool

They're trying to buy all the coins. 
We must not let them.
Lethn
Legendary
*
Offline Offline

Activity: 1540
Merit: 1000



View Profile WWW
August 28, 2013, 03:25:39 PM
 #7

Quote
Programmers stuffing data into the blockchain without anyone able to opt-out is complete and utter bullshit. Stop doing this, you fucking fucks.

That comment was priceless, I do agree though, the concept by itself sounds a lot like god awful DRM and as we all know that kind of thing is just legalised spyware designed to fuck with your PC, I'm getting increasingly suspicious of these coins coming out that are trying to latch onto Bitcoins' wallet.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!