MasterCoin Buyer/Seller Thread

[Voodah]

I try to register Admin accounts on many services as a novelty thing.

That's a funny one. Do you take us all for idiots?

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[inbox]

I try to register Admin accounts on many services as a novelty thing.

That's a funny one. Do you take us all for idiots?

I honestly don't see what wrong with this. A username is a username, doesn't give me extra powers. People like premium domain names, I enjoy having premium usernames.
In fact I was complimented by the masterxchange about it. "Cool user name by the way." -A

[BitThink]

My 2 cents on this issue.

No matter what inbox did on that exchange was proper or not, the point is do we think the exchange has the right to forfeit his 262 MSC.

Now from the transaction history, http://mastercoin-explorer.com/addresses/1GBB5KeN4z1Tu9tUgPLQS5z9zdpqvNKjPb, we could clearly see that inbox did send 262 MSC to the exchange and not get credited to his account. Maybe he did something not proper later, but I still don't think the exchange has the right to keep that 262 MSC to themselves. Maybe they can delete his account or even ban his IP, but they have to refund the 262 MSC, which equals to more than $40K now.

Disclaimer: I personally bought 20 MSC from inbox before without escrow. He sent me 8 MSC first and I sent him the BTC later. I appreciated his trust on me so I want to say something for him on this issue.

[peled1986]

Now from the transaction history, http://mastercoin-explorer.com/addresses/1GBB5KeN4z1Tu9tUgPLQS5z9zdpqvNKjPb, we could clearly see that inbox did send 262 MSC to the exchange and not get credited to his account. Maybe he did something not proper later, but I still don't think the exchange has the right to keep that 262 MSC to themselves. Maybe they can delete his account or even ban his IP, but they have to refund the 262 MSC, which equals to more than $40K now.

I am not taking side (its hard to know/prove what was inbox "intent") but in general based on your logic, if a thief succeeds and "steals" 212 MSC he should return them all. Do you think a thief will return stolen MSC? Do you think your advice deters future theft attempts?

Criminal Law: An attempt is committed when someone intends to commit a crime and takes some steps toward committing it, but ultimately fails to commit the crime.  The defendant must therefore have both the necessary mental state of intent to commit the crime, and must do some overt act.  

If the perpetrator has taken a direct step, and stops or is stopped by someone or something from carrying out the crime, he or she is still guilty of attempt.  If, however, the person decides to abandon his or her plans before taking a direct step, that person is not guilty of an attempt.

[peled1986]

Selling 75 MSC @ 0.24
Pre-funded sell offers listed here (MSC already with maxmint): https://mcoin.io/#/

[peled1986]

I am not sure if they should keep it for themselves.  

DarkEmi already clarified:

Also, if we ever get to "confiscate" your mastercoins, we will find a way to give them back to the community.

[killerstorm]

while your criminal law analysis is worth considering, there is more.  If he were successful and managed to exploit a Mastercoin weakness at this early stage - he could have easily cause the value of Msc to plummet thus causing everyone serious loss of value.  far more than the $40K he is being penalized today.

Or, depending on how you look at it, he is a hero who warns people of the Mastercoin's weakness and prevents much bigger losses.

[shakezula]

Is anyone buying Test Mastercoin? If so I have 50 at .02 or 1 BTC total. PM or public thread trade fine, will escrow via maxmint if he's OK with that.

[jeroenn13]

while your criminal law analysis is worth considering, there is more.  If he were successful and managed to exploit a Mastercoin weakness at this early stage - he could have easily cause the value of Msc to plummet thus causing everyone serious loss of value.  far more than the $40K he is being penalized today.

Or, depending on how you look at it, he is a hero who warns people of the Mastercoin's weakness and prevents much bigger losses.

Do you really think he would have reported if he actually managed to get duped MSC? Im 99% he didn't.
You lost your money. You took a risk to use your MSC while checking for exploits and you lost it, great lesson.

[jeroenn13]

Is anyone buying Test Mastercoin? If so I have 50 at .02 or 1 BTC total. PM or public thread trade fine, will escrow via maxmint if he's OK with that.

There are lots of developers who gives these for free since it helps testing the system. TMSC are worthless.

[zathras]

while your criminal law analysis is worth considering, there is more.  If he were successful and managed to exploit a Mastercoin weakness at this early stage - he could have easily cause the value of Msc to plummet thus causing everyone serious loss of value.  far more than the $40K he is being penalized today.

Or, depending on how you look at it, he is a hero who warns people of the Mastercoin's weakness and prevents much bigger losses.

Killerstorm, I always appreciate your views on Mastercoin (specific critique only helps us improve - and we do take it onboard for example we're now enabling features at specific block numbers) but in this case I think it's only fair to point out this really was not a weakness in Mastercoin, it was a bug in one specific software implementation of it. 

Just as a bug in Armory is not a weakness in Bitcoin, I don't think it's fair to label this case as a weakness in Mastercoin.

For the community as a whole, I would recommend against relying on a single site at this early stage.  There are four completely independent implementations and if any disagree (as they did in this case) then you should seek clarification from the dev community and file appropriate bug reports (we're looking into making this easier).  We are of course all working hard to make sure there are no differences, but bugs do occur so be sure to check your transactions on multiple implementations.

You can also check your address here https://masterchest.info/consensus.aspx.  Select 'Show listing of ALL addresses' and do a find-on-page for your address.  You can see your address balance from all four implementations here and whether there is consensus across all implementations.  This is a tool we are using to collaboratively identify and eliminate any differences in interpretation between the various implementations (our next dev con call is upcoming to work on the last few edge cases).

Thanks
Zathras 

[DGulari]

while your criminal law analysis is worth considering, there is more.  If he were successful and managed to exploit a Mastercoin weakness at this early stage - he could have easily cause the value of Msc to plummet thus causing everyone serious loss of value.  far more than the $40K he is being penalized today.

Or, depending on how you look at it, he is a hero who warns people of the Mastercoin's weakness and prevents much bigger losses.

Killerstorm, I always appreciate your views on Mastercoin ...

Zathras,
I am begging you please: don't engage this guy.  Go back to work.  You are awesome and we need you 100% working on code.  I'll handle the assholes.  You need to ignore guys like KillerShitStorm and others naysayers and just keep building good stuff.  Thanks for the comment, but we really need you to go back to work and stop looking at the disinformation. 

[klee]

What is this clown saying? I may unignore him so I have a good laugh 

[Voodah]

What is this clown saying? I may unignore him so I have a good laugh 

Just typical fanatic sock ramblings.

[klee]

Hehe I miss him!

[o3u]

while your criminal law analysis is worth considering, there is more.  If he were successful and managed to exploit a Mastercoin weakness at this early stage - he could have easily cause the value of Msc to plummet thus causing everyone serious loss of value.  far more than the $40K he is being penalized today.

Or, depending on how you look at it, he is a hero who warns people of the Mastercoin's weakness and prevents much bigger losses.

Killerstorm, I always appreciate your views on Mastercoin (specific critique only helps us improve - and we do take it onboard for example we're now enabling features at specific block numbers) but in this case I think it's only fair to point out this really was not a weakness in Mastercoin, it was a bug in one specific software implementation of it.  

Just as a bug in Armory is not a weakness in Bitcoin, I don't think it's fair to label this case as a weakness in Mastercoin.

For the community as a whole, I would recommend against relying on a single site at this early stage.  There are four completely independent implementations and if any disagree (as they did in this case) then you should seek clarification from the dev community and file appropriate bug reports (we're looking into making this easier).  We are of course all working hard to make sure there are no differences, but bugs do occur so be sure to check your transactions on multiple implementations.

You can also check your address here https://masterchest.info/consensus.aspx.  Select 'Show listing of ALL addresses' and do a find-on-page for your address.  You can see your address balance from all four implementations here and whether there is consensus across all implementations.  This is a tool we are using to collaboratively identify and eliminate any differences in interpretation between the various implementations (our next dev con call is upcoming to work on the last few edge cases).

Zathras is a fucking genius.  KillerShitStorm is a asshole who tries so hard to discredit Mastercoin at every turn.  

Zathras is correct.  Mastercoin is fine.  sometimes one of the four implimentations has a different conclustion than others.  This is actually what makes Mastercoin very strong.  different interpretations of the protocol are encoded into rules and final clarification is reached where any ambiguity is discovered.  Zathras is right in the middle of this process.  KillerShitStorm is totally, wickedly conflicted as he wishes so much that Colored Coins could get the attention that Mastercoins got.  Colored Coins is a shit dead project. So Killershitstorm comes here at every opportunity to throw shit around.  

Some dumb fuck named 'Inbox' tried a fast one to gain profits for himself.  But MastercoinXchange and Zathras and othes worked together to fix the discrepancy and get to a very much stronger mastercoin.  Inbox is a fucking cheat and paid for it with 216 MSC.  I hope the next guy who tries to steal from our good service providers at MastercoinXchange suffer the same fate.  When someone screws with an exchange service, I always hope they paid hell.  These exchanges are hard to set up so they can't be manipulated by assholes.
        KillerShitstorm is trying to leverage the situation to put more disrepute on Mastercoin in the stupid notion that somehow Colored Coins will catch up.  Colored Coins is a dumb-ass fucking idea without funding and no matter how much shit KillershitStorm throws around won't be affected.  KillerShitStorm is dying to find a way to push down Master and prop up his failed piece of garbage.  
        But don't get me wrond.  KillerShitStorm is actually intelligent.  Not only that, he will soon be on the Mastercoin team.  As soon as he decides to back the correct horse, he will be on tract.  He needs to take his talents and join Mastercoin community.  If I were JR, and I am not, I'd pay (with MSC) guys like KillerStorm to quit his failed mission with Colored and bring his talents over to Mastercoin.  Killer fucked up by not getting right with the Exodus fund raising event.  But it is not too late.  If Killer gets his head right today and gets in with the MSC devo team then we all benefit.  C'mon JR, give Killer a reasonable position in this deal and get him on board.  We all know he loves Mastercoin because he watches it so closely.   If JR doesn't move on this, then I would encourage the board to set up a program to bring killer in.  I'd personally set aside some of my MSC holdings to but his participation.  Until that happens, Killer is just going to look for every reason to throw mud at MSC.
      Unfortunate, but tolerable.  MSC will also be fine without him.  If he abandons ColoredBullshit and joins MSC we'd get the benefit of another talented guy in the project.  Either way, MSC is fine - but Killer is only going to come out ahead if he quits ColoredBullshit and joins a real project with good funding and serious team to develop a higher layer on Bitcoin.   

Saw MSC price fall, panicked, got here and my eyes can't process this much text.

Please someone TL;DR for people who just got here seeing the price dip ?

1. Someone succeeded in exploiting a vulnerability in a MSC exchange site? or a feature of MSC itself? please explain

2. That person was "punished" by having his MSC banned? the same way a government, bank, or other centralized entity would block money used for criminal activities? Now... don't get me wrong, it seems like the right thing to do if this money was stolen obviously. But the point of decentralization is to not do these kinds of things.

3. Is this fixed yet?  or can i hope to pick up some MSC at an even lower price.. How will this affect MSC going forward..?

[Patel]

DGulari, this is for you.



From: Bitcointalk.org Members

[DGulari]

2. That person was "punished" by having his MSC banned? the same way a government, bank, or other centralized entity would block money used for criminal activities?

yep, crime and anarchy rules in bitcoin and mastercoin.  fuck the world!  steal all you can.  No order, no regulation, just fuck everyone.

[DGulari]

What is this clown saying? I may unignore him so I have a good laugh 

Who are you kidding dumbass?  You read every word I write.  Twice.  At least.  Dumbass.  You fucking love my shit and you can't miss a single thing.  You have never been able to ignore me. 

Do you know that many intelligent people actually do ignore me.  They just don't care for the extreme position.  They use their minds to ignore me.  They don't need some mechanical blocking means.  They just don't pay attention.

Then we have you.  You read every word I write.  You put me on 'ignore' with the mechanical system, but you just cant resist clicking unignore just to read my every post.  You love me.  I do too.    I love you klee.   

[o3u]

Timeline of events, and explanation  cleared up by inbox' link:

http://www.reddit.com/r/mastercoin/comments/1u7ku8/masterxchangecom_update_events_timeline/