Why so much hype around mastercoin?

[TKeenan]

Finally, I got tired of waiting for somebody else to do it.
Now, after years of waiting, it's finally happening.

For anyone who hasn't see the video where this actually plays out, I highly recommend it. Look at this: http://www.youtube.com/watch?v=_qdr_Z3hrqQ

Willet tells everyone: go do it.  I'll give you money.  But nobody did it.  So Willet did it himself.  Please watch this.  You'll learn that Willet and MSC have very honest roots and foundation.  Very cool.

[romerun]

I started the MasterCoin project, and I'm the biggest investor. I invested every last BTC I had in MasterCoin. Since then, I haven't sold one single MasterCoin. Not one. I know I'll have to eventually, but that will be very painful for me.

meh, since you control the exodus address, you are in the better position than everyone else to put every coin into it.

[dacoinminster]

I started the MasterCoin project, and I'm the biggest investor. I invested every last BTC I had in MasterCoin. Since then, I haven't sold one single MasterCoin. Not one. I know I'll have to eventually, but that will be very painful for me.

meh, since you control the exodus address, you are in the better position than everyone else to put every coin into it.

Obviously. The point I was trying to emphasize is that I haven't sold any.

[TKeenan]

Obviously. The point I was trying to emphasize is that I haven't sold any.

Those who don't understand the project might be selling - but I seriously doubt you'll find any sellers lower than 1:1 where the seller is educated.

[imrer]

Thank all of you for great insights. It helped me to understand this idea. It's amazing how evolution works - in almost same time several similar projects occur. I believe we're heading in right direction although we can only bet on ship which will take us to final destination. At the moment I'd say mastercoin has the bigges momentum and it'll be great to see where it ends.

[marcelus]

Congratulations JR on what is a brilliant, elegant protocol that opens up mindblowing possibilities. I'd like you to talk to us more about trust issues though. What can you offer the sceptic that thinks you will mint more MSC when it suits you?

[dacoinminster]

Congratulations JR on what is a brilliant, elegant protocol that opens up mindblowing possibilities. I'd like you to talk to us more about trust issues though. What can you offer the sceptic that thinks you will mint more MSC when it suits you?

Thanks!

Trying to issue more MSC would fork the protocol - it would be just as hard as trying to change bitcoin to have more than 21M bitcoins. You can say you are doing that, but really all you have done is forked bitcoin, and anybody who doesn't like your idea will stay on the original branch. Same with Mastercoin.

[marcelus]

What are the total amount of MSC that were minted?

[prophetx]

What are the total amount of MSC that were minted?

the total is here (about 560k), plus about another 10% or so that vests over some period of time

http://mastercoin-explorer.com/

[bluemeanie1]

I've read some basic info about mastercoin and ripple but I can see similarities. Could somebody tell me why is mastercoin so great if we for example has to trust creator, that he doesn't issue more mastercoins?

Why do you perceive mastercoin as great idea?

it's a bunch of guys in Israel trying to make a quick buck.

there's another guy in the Ukraine who is also shilling for them.

It's certainly showing how degraded that particular community has become.  They've poured money into Color Coins, nothing happened, mainly due to the failures of one, or perhaps two people.  I just want to make clear I have nothing to do with these people, because I have posted to some of the lists they appear to be stinking up.

you must realize that some of the people who have been posting here for YEARS are doing so under a false name from some unknown village in Eastern Europe where $500 USD is enough to pay for an entire years living expenses and your daughters dowry.  The fact that Bitcoin based payments are untraceable and irreversable empowers these types considerably so they are far more tenacious and numerous on boards like this.

[marcelus]

I've read some basic info about mastercoin and ripple but I can see similarities. Could somebody tell me why is mastercoin so great if we for example has to trust creator, that he doesn't issue more mastercoins?

Why do you perceive mastercoin as great idea?

it's a bunch of guys in Israel trying to make a quick buck.

there's another guy in the Ukraine who is also shilling for them.

It's certainly showing how degraded that particular community has become.  They've poured money into Color Coins, nothing happened, mainly due to the failures of one, or perhaps two people.  I just want to make clear I have nothing to do with these people, because I have posted to some of the lists they appear to be stinking up.

you must realize that some of the people who have been posting here for YEARS are doing so under a false name from some unknown village in Eastern Europe where $500 USD is enough to pay for an entire years living expenses and your daughters dowry.  The fact that Bitcoin based payments are untraceable and irreversable empowers these types considerably so they are far more tenacious and numerous on boards like this.

I'm very confused as to what you're talking about.

[bluemeanie1]

I've read some basic info about mastercoin and ripple but I can see similarities. Could somebody tell me why is mastercoin so great if we for example has to trust creator, that he doesn't issue more mastercoins?

Why do you perceive mastercoin as great idea?

it's a bunch of guys in Israel trying to make a quick buck.

there's another guy in the Ukraine who is also shilling for them.

It's certainly showing how degraded that particular community has become.  They've poured money into Color Coins, nothing happened, mainly due to the failures of one, or perhaps two people.  I just want to make clear I have nothing to do with these people, because I have posted to some of the lists they appear to be stinking up.

you must realize that some of the people who have been posting here for YEARS are doing so under a false name from some unknown village in Eastern Europe where $500 USD is enough to pay for an entire years living expenses and your daughters dowry.  The fact that Bitcoin based payments are untraceable and irreversable empowers these types considerably so they are far more tenacious and numerous on boards like this.

I'm very confused as to what you're talking about.

being confused is expected if you take this forum seriously.

[bluemeanie1]

The fact is, this group has been churning out LOADS of unreliable statements.  I've already pointed out a number of things that don't line up about what they're saying.  The sheer amount of just garbage they keep spamming every Bitcoin channel with is far too much for any single person to manage.  They are kicking up dust and making this thing look as though it's gigantic, oh and guess what?  you need to purchase Mastercoins right now if you want to be a part of it.  Get them while supplies last.

I know that some legitimate VC companies have declared involvement with this, and I've confirmed that through personal contacts.  This may indicate that 1) they don't know whats actually going [1] on 2) they believe this project will bear some profit.  In the case of #2, not sure how or why a VC would want to throw 2 million dollars at an open source project?  Obviously there is something else going on here, not exactly sure what and given the level of BS these guys are churning out, I don't care at this point.  It appears to be a pump and dump scheme for this crypto-asset, Mastercoin.  All the technical claims about this thing are just poor aping of various ideas floating around these boards and lists(such as the fabled Decentralized Exchange which I have written a detailed explanation of how to build).  At one point the technical claims started to look so contradictory and sloppy that Ron Gross[2[ declared that Mastercoin 'is not really a technology'.

The logo looks like something they stole from Legend Of Zelda.  The whole thing is just hilarious in my view.

The problem is that this space is just infested with Investment Pick Up Artists, who do have developed talents in attracting and convincing people with money.  They tend to gravitate into any area where there are people with money.  Like regular Pick Up Artists their home is dark sleazy places where people can't easily determine their identity.


[1] and this is remarkably common right now in the VC world.  There are many people desperate to buy a piece of the Bitcoin action and they don't know how to do it and they need get it on the shelf.

[2] whose name is on the DNS record for http://Mastercoin.org

[TKeenan]

I'm very confused as to what you're talking about.

He is also confused as to what he is talking about.  Right after the anti-jewish bit - he stops making sense.

the fabled Decentralized Exchange which I have written a detailed explanation of how to build

Oh, I see.  Now I get it.  You are the original and you are upset that JR funded a project to 'get 'er done' while you kept playing pong on your Atari for the last 6 months.  Too late to cry now. You wrote about it; JR did it.

[bluemeanie1]

I'm very confused as to what you're talking about.

He is also confused as to what he is talking about.  Right after the anti-jewish bit - he stops making sense.

a list of TKeenans threads plugging/shilling for Mastercoin.

https://bitcointalk.org/index.php?action=profile;u=154254;sa=showPosts

also,

אני יהודי

nice try though.

[TKeenan]

shilling for Mastercoin.

Presently, there are about 86.4 shilling per dollar and about 80 dollar per Mastercoin.  So if you want to buy a Mastercoin for shilling, it'll be about 6400.

[bluemeanie1]

the fabled Decentralized Exchange which I have written a detailed explanation of how to build

Oh, I see.  Now I get it.  You are the original and you are upset that JR funded a project to 'get 'er done' while you kept playing pong on your Atari for the last 6 months.  Too late to cry now. You wrote about it; JR did it.

I was the first person to suggest this idea, which created quite a buzz.  As it stands I am also the only one with a verifiable solution to this problem.

The Color Coins crew, especially Alex routinely imitates my statements while simultaneously deriding and denouncing my works.

Obnoxious to the say the least.

Here's a tip, and honestly I'm not sure exactly what your involvement is with this group.  When you involve serious VC- let's just say they don't like to be made a fool of.  The Bitangles guy who posted here a few days ago seems to not quite understand what the Mastercoin project actually has, which makes me think that someone is playing someone else. 

I just want to make 100% clear that Im not involved with this.

[marcelus]

I was the first person to suggest this idea, which created quite a buzz.  As it stands I am also the only one with a verifiable solution to this problem.

The Color Coins crew, especially Alex routinely imitates my statements while simultaneously deriding and denouncing my works.

Obnoxious to the say the least.

Would it be fair to say you have a small chip on your shoulder??

Here's a tip, and honestly I'm not sure exactly what your involvement is with this group.  When you involve serious VC- let's just say they don't like to be made a fool of.  The Bitangles guy who posted here a few days ago seems to not quite understand what the Mastercoin project actually has, which makes me think that someone is playing someone else.  

I just want to make 100% clear that Im not involved with this.

The ignorance of a VC says very little about the actual health of the project.

[bluemeanie1]

I was the first person to suggest this idea, which created quite a buzz.  As it stands I am also the only one with a verifiable solution to this problem.

The Color Coins crew, especially Alex routinely imitates my statements while simultaneously deriding and denouncing my works.

Obnoxious to the say the least.

Would it be fair to say you have a small chip on your shoulder??

http://www.urbandictionary.com/define.php?term=vaporware

nice try, but no.

criticising someone's poor behavior isn't jealousy or resentment, it's called indignation.

this stuff happened widely during the dot com era, and every time a company would issue stock options suddenly a gaggle of tech heads with edgy fashion sense would be waddling around talking about technologies that didn't exist.  I guess you think this is some kind of contest to see who can fool investors into giving them money?  and that Im butthurt because I lost the contest?  because that's what you're suggesting.  Most people don't know this, but a large disproportional number of these dot com scams came from Israel.

[klee]