Colored coins VS Mastercoins - Which one is better?

[Paleus]

...Microsoft - and today that is where the richest man in the world is from. 

Carlos Slim is from Microsoft?

The Rothschild families work at Microsoft?

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[HammerFist]

Colored VS Master.. sounds a bit racist eh?

It does indeed.  But the Master wins every time in that scenario too.

[Luckybit]

Colored VS Master.. sounds a bit racist eh?

It does indeed.  But the Master wins every time in that scenario too.

There are going to be all sorts of jokes and memes about this if JR becomes the richest man in the world for inventing Mastercoin.

It's definitely a possibility. Whether or not he goes to jail? I don't think he will, but Kim Dot Com didn't seem to be breaking the law and they went after him. I think as long as JR has good lawyers and can live where he has to live he will avoid going to jail.

The US might not be the most friendly place to live if the laws become bad for Bitcoin. JR will have enough money to move if the time comes and insulate himself from all that. Also if Mastercoin is a success it is unstoppable. Nothing can stop the protocol if it actually works, and even if they started jailing people it wouldn't stop anything but just delay it.

Eventually whatever the laws were which put people in jail on political charges could be changed. In fact that is what will have to happen, the laws will have to be adapted to be favorable for innovation.
http://www.wired.com/threatlevel/2013/09/dotcom-lawsuit/

[HammerFist]

but Kim Dot Com didn't seem to be breaking the law and they went after him.

How could anyone possibly believe Kim Dotcom didn't break the law?  Copyright infringement is against the law.  So is 'contributory infringement'.  Just because you devise a clever little scheme to pretend you are not contributing to copyright infringement doesn't mean that you aren't.  The courts are not fooled by clever little schemes.  Kim Dotcom was the king of contributing to copyright infringement.  You can't hide behind schemes.  Actually, Kim Dotcom can't hide behind nearly anything as he is rather large.

[BitcoinEXpress]

The only thing Coloredcoin or Mastercoin have in common is that they both will die as failed experiments.

Gotta love them fanboys running around all over the forum creating threads promoting both in effort to either either pump the coin or convince themselves it's a great idea.

Both are fun to watch...


~BCX~

[dillpicklechips]

The only thing Coloredcoin or Mastercoin have in common is that they both will die as failed experiments.

~BCX~

You don't think using CC for stocks or bonds will work or be successful?

[Inkvor]

mastercoin at least it got a price

[BitcoinEXpress]

The only thing Coloredcoin or Mastercoin have in common is that they both will die as failed experiments.

~BCX~

You don't think using CC for stocks or bonds will work or be successful?

No I don't, but admittedly that in itself, doe not make me correct.


~BCX~

[dillpicklechips]

mastercoin at least it got a price

So does CC. It's the smallest 0-fee bitcoin transaction that can be sent through the bitcoin network.

[dillpicklechips]

mastercoin at least it got a price

So does CC. It's the smallest 0-fee bitcoin transaction that can be sent through the bitcoin network.

He clearly meant that the format is conducive to speculation, direct value, etc. Whether that's a +, the future will decide. This does in a sense give it momentum, and at the least grabs attention.

Which is why I'm wondering if MC is all speculation for the price. CC biggest advantage is that it will be cheap for everyone to use forever. For MC to be valuable it has to do something CC can't.

[Luckybit]

but Kim Dot Com didn't seem to be breaking the law and they went after him.

How could anyone possibly believe Kim Dotcom didn't break the law?  Copyright infringement is against the law.  So is 'contributory infringement'.  Just because you devise a clever little scheme to pretend you are not contributing to copyright infringement doesn't mean that you aren't.  The courts are not fooled by clever little schemes.  Kim Dotcom was the king of contributing to copyright infringement.  You can't hide behind schemes.  Actually, Kim Dotcom can't hide behind nearly anything as he is rather large.

Megaupload doesn't infringe copyright. The users may have done so but how is that any different from the users of Bitcoin or anything else?

[Luckybit]

mastercoin at least it got a price

So does CC. It's the smallest 0-fee bitcoin transaction that can be sent through the bitcoin network.

He clearly meant that the format is conducive to speculation, direct value, etc. Whether that's a +, the future will decide. This does in a sense give it momentum, and at the least grabs attention.

Which is why I'm wondering if MC is all speculation for the price. CC biggest advantage is that it will be cheap for everyone to use forever. For MC to be valuable it has to do something CC can't.

And it does do things CC can't. You'll find out in 3-6 months.

[prophetx]

mastercoin at least it got a price

So does CC. It's the smallest 0-fee bitcoin transaction that can be sent through the bitcoin network.

He clearly meant that the format is conducive to speculation, direct value, etc. Whether that's a +, the future will decide. This does in a sense give it momentum, and at the least grabs attention.

Which is why I'm wondering if MC is all speculation for the price. CC biggest advantage is that it will be cheap for everyone to use forever. For MC to be valuable it has to do something CC can't.

And it does do things CC can't. You'll find out in 3-6 months.

Perhaps both can live, and others.  The market place doesn't need 1 solution for all problems.

[dillpicklechips]

And it does do things CC can't. You'll find out in 3-6 months.

Dang. I'm impatient and I want to know now! 

[HammerFist]

Megaupload doesn't infringe copyright.

After very careful legal analysis, this is the conclusion you came to.  However, Federal District Court Judges who have been deciding intellectual property cases for 25 or more years came to a different conclusion.  Maybe your ability to parse copyright law is special, but I am thinking you may have missed something these judges can see. 

In other words, you don't have a clue as to what you are talking about.

[dillpicklechips]

Thanks for all the replies. I've looked into it more.

I see another potential problem for mastercoin: it is easily duplicated with little work. Unlike alt coins a new mastercoin clone doesn't need to build up an army of miners. This makes a clone have the same security as the original. All the security comes for free from bitcoin. Someone could come along and clone the project, rename it, and have all the same features with the added benefit of not having to purchase mastercoins. Is that scenario likely?

[alp]

Thanks for all the replies. I've looked into it more.

I see another potential problem for mastercoin: it is easily duplicated with little work. Unlike alt coins a new mastercoin clone doesn't need to build up an army of miners. This makes a clone have the same security as the original. All the security comes for free from bitcoin. Someone could come along and clone the project, rename it, and have all the same features with the added benefit of not having to purchase mastercoins. Is that scenario likely?

It's unlikely mainly because Mastercoin will prove itself to be an idea that isn't worth copying.  If I am somehow wrong on that, the clones are not far behind.

[alp]

mastercoin at least it got a price

So does CC. It's the smallest 0-fee bitcoin transaction that can be sent through the bitcoin network.

He clearly meant that the format is conducive to speculation, direct value, etc. Whether that's a +, the future will decide. This does in a sense give it momentum, and at the least grabs attention.

Which is why I'm wondering if MC is all speculation for the price. CC biggest advantage is that it will be cheap for everyone to use forever. For MC to be valuable it has to do something CC can't.

I had typed out a good two paragraphs of my thoughts on this and accidentally hit the back button, so decided to just summarize. From my understanding CC (potentially) accomplishes a small list of important features but is ultimately limited in what it can achieve. Mastercoin can (potentially) solve these problems also, and beyond, having broad implications in ways that we don't even know yet because of the way it is implemented. And consider Bitcoin. Although it's purpose was not to function as a speculative device, that's what nurtured it into legitimization (if you consider BTC legitimate at this point). There's no lack of talent looking to be involved in the bitcoin world. Provided the technical hurdles can be overcome, I think the fact that it can be directly monetized and the approx 3/4 of a million dollars of funding puts Mastercoin in the lead. The amount the project has accomplished in one month is quite impressive.

Mastercoin being more ambitious is actually a good reason to be very careful of it.  It has to get nearly everything right it tries to do, or falls apart.  It's much easier to build small components are correct than a complete functioning system that tries to do everything.  Colored coins tries to solve one problem, and solve it very well.  MC tries to solve a ton of different problems all using the same solution.  While Mastercoin has the edge of getting a lot of people to try to get rich quick dumping tons of Bitcoins into it, that doesn't make it better.  It just means that they will get to the point of failure faster.

[Peter Todd]

The only thing Coloredcoin or Mastercoin have in common is that they both will die as failed experiments.

If colored coins don't pan out they won't take ~5,000BTC of investor money down with them; on a technical level both are decent ideas where a good implementation could be useful.

[Loozik]

Out of curiosity: does any of the two projects offer (partial) answers to this idea? https://bitcointalk.org/index.php?topic=313151.0