Money on Chain - Bitcoin-Collateralized Stablecoin

[jillscarbrough]

Are newbie allowed for ask here?

 Nah ^(*jk) 

 Maybe they're quite busy at the moment, as they told before, they on Testnet preparation. But yes, it can't be a reason to ignore us here.
 So, where's the team?

[Harold Finch]

thanks for the explanation. but, how about to make some illustration graphic on the whitepaper, it will make it more easy to understand.

waiting for the whitepaper

Yes, info-graphic is a good idea to explain it in a simple way (even though max said that the process is kinda complex). The message will be sent to the team though so maybe, they'll create one for the public.

The project is very nice, if understand correct you are part of the team or have any connection with them?

[Bowtiesarecool]

BTC collateralized and calling it a stablecoin? The logical inference would be BTC = Stablecoin.
Does not compute
BTC is a very volatile asset. How is an asset collateralized on it anyway remotely stable, unless you're using another asset to hedge against the volatility or you've got a perfectly, functional crystal ball

You're absolutely right! I super agree with you on that point.

So, this is what 'em say on their web:
-I'm just quoting the explanation on their web related to your above post-

To solve Bitcoin’s volatility problem, we will provide a Bitcoin-collateralized stablecoin using a three-party system:

We strip Bitcoin’s volatility into two separate tokens:

The Dollar on Chain (DOC), is pegged to us Dollar for risk-averse individuals

The BitPRO, a token for risk-propense Bitcoin holders seeking a passive income in BTC

The DOC tokens will be stable and pegged to the US dollar, such that each DOC token will have a value of USD 1. As these tokens will be entirely stable, they are a volatility-free asset that will perform the three functions of money mentioned above: a medium of exchange, unit of account, and a store of value.
................................................and so on

Source: https://moneyonchain.com/solution/

Sounds like another Rube Goldberg contraption.
So, for the risk-averse, they have the option to peg this BTC-collaterized stablecoin to another stable coin called DOC, while the adventurous are just sticking to BTC by another name, Bitpro. There are numerous stable coins to chose from already, what makes DOC any different?

The difference is that it is the first stablecoin with bitcoin as collateral with focus on decentralization and with every transaction made through smart contracts.

And therein lies the problem.
Focused on decentralization? What stablecoin is not focused on decentralization after all, they are issued on decentralized protocols.
Yes, you can argue that they are issued by centralized authorities/entities, but are you not just the same?
And smart contracts? I can't boldly argue all stablecoins have smart contracts, but I can certainly argue all stablecoins issued on Ethereum protocol do - USDC, PAX, TUSD... can even toss BUSD too despite being BEP2

[jillscarbrough]

The difference is that it is the first stablecoin with bitcoin as collateral with focus on decentralization and with every transaction made through smart contracts.

And therein lies the problem.
Focused on decentralization? What stablecoin is not focused on decentralization after all, they are issued on decentralized protocols.
Yes, you can argue that they are issued by centralized authorities/entities, but are you not just the same?
And smart contracts? I can't boldly argue all stablecoins have smart contracts, but I can certainly argue all stablecoins issued on Ethereum protocol do - USDC, PAX, TUSD... can even toss BUSD too despite being BEP2

 I'm with you.... 

[Bowtiesarecool]

The difference is that it is the first stablecoin with bitcoin as collateral with focus on decentralization and with every transaction made through smart contracts.

And therein lies the problem.
Focused on decentralization? What stablecoin is not focused on decentralization after all, they are issued on decentralized protocols.
Yes, you can argue that they are issued by centralized authorities/entities, but are you not just the same?
And smart contracts? I can't boldly argue all stablecoins have smart contracts, but I can certainly argue all stablecoins issued on Ethereum protocol do - USDC, PAX, TUSD... can even toss BUSD too despite being BEP2

 I'm with you.... 

Hoping their next response will clarify these contradictions... not holding out hopes based on previous history though. I do know it's difficult to come up with new products in the blockchain industry that will turn heads. However, if it ain't broken and you're not improving on the existing, it sure does beg the question "why?".

[maxcarjuzaa]

thanks for the explanation. but, how about to make some illustration graphic on the whitepaper, it will make it more easy to understand.

waiting for the whitepaper

Yes, info-graphic is a good idea to explain it in a simple way (even though max said that the process is kinda complex). The message will be sent to the team though so maybe, they'll create one for the public.

Yes sir yes 
Ye ye ye, please create it one for us to make this complex thing more understandable.

Is there any updated info for the test-net, by the way?
Then, do we have the full model on the test-net?

Yes and no, we are have deployed the stable coin platform (functional) on the testnet but we are going to deploy the decentralized token exchange (probably) on november. The stable coin platform has the first version of our mathematical model but the governcance is still missing, moreover we have a lot of new exciting features that we are plannig to deploy next year.

The difference is that it is the first stablecoin with bitcoin as collateral with focus on decentralization and with every transaction made through smart contracts.

And therein lies the problem.
Focused on decentralization? What stablecoin is not focused on decentralization after all, they are issued on decentralized protocols.
Yes, you can argue that they are issued by centralized authorities/entities, but are you not just the same?
And smart contracts? I can't boldly argue all stablecoins have smart contracts, but I can certainly argue all stablecoins issued on Ethereum protocol do - USDC, PAX, TUSD... can even toss BUSD too despite being BEP2

 I'm with you.... 

Today we are fully centralized but as soon as we launch, the road to descentralization begins, our protocol eliminates the 3rd party risk asociated with UDSC, PAX, TUSD, DAI etc.

We are working to transfer The power to upgrade the smart contracts to the community not the fundation. As far as we know we are going to be the first DeFi with this characterist.

The difference is that it is the first stablecoin with bitcoin as collateral with focus on decentralization and with every transaction made through smart contracts.

And therein lies the problem.
Focused on decentralization? What stablecoin is not focused on decentralization after all, they are issued on decentralized protocols.
Yes, you can argue that they are issued by centralized authorities/entities, but are you not just the same?
And smart contracts? I can't boldly argue all stablecoins have smart contracts, but I can certainly argue all stablecoins issued on Ethereum protocol do - USDC, PAX, TUSD... can even toss BUSD too despite being BEP2

 I'm with you.... 

Hoping their next response will clarify these contradictions... not holding out hopes based on previous history though. I do know it's difficult to come up with new products in the blockchain industry that will turn heads. However, if it ain't broken and you're not improving on the existing, it sure does beg the question "why?".

Why? because we are bitcoiners, and we need a stable coin that inherit BTC propeties like no counterparty risk and censorship resistance.


 We are glad to share access to MoneyOnChain platform in
@RSKsmart
 Testnet! 

 Check out what Money On Chain is https://youtu.be/3UrVZHh-L4w 

✅ Test our platform here https://moc-testnet.moneyonchain.com

Here are some instructions to access Money On Chain Testnet
https://drive.google.com/file/d/1lflkp7A0ExXpL5Ch-uM-TUeeaCOSq3a6/view

If in doubt, join our community on Telegram and ask: https://t.co/gsqvbpYnrO?amp=1

Whitepaper: https://t.co/m6yAY2gYtR?amp=1

Follow us on twitter! @moneyonchainok

[jillscarbrough]

 As I thought,

✅ Test our platform here https://moc-testnet.moneyonchain.com

👉Here are some instructions to access Money On Chain Testnet
https://drive.google.com/file/d/1lflkp7A0ExXpL5Ch-uM-TUeeaCOSq3a6/view

 I'll try to test it later today (I wish I have time for doing this)

Whitepaper: https://t.co/m6yAY2gYtR?amp=1

 Finally.....

We are working to transfer The power to upgrade the smart contracts to the community not the fundation. As far as we know we are going to be the first DeFi with this characterist.

 Pretty good statement.

 So, let's see!
 Will MoC be "the real" decentralized finance platform?

[ning_aric]

Lots of stablecoin startup projects around. Mostly by big exchanges or blockchain projects. I kinda want to suggest the Mods create a sub grouo for stable coin discussions.
Btw I’ll like OP to post a lot more information about Money On Chain. That should be the reason for this sub. I’ll like to read your white paper, find out how different you really are.

[sapta]

Lots of stablecoin startup projects around. Mostly by big exchanges or blockchain projects. I kinda want to suggest the Mods create a sub grouo for stable coin discussions.
Btw I’ll like OP to post a lot more information about Money On Chain. That should be the reason for this sub. I’ll like to read your white paper, find out how different you really are.

More information will be added, of course, once its available. And I'm sure that the team will ask me to update it sometimes in the future.

[Rozita]

Btw I’ll like OP to post a lot more information about Money On Chain. That should be the reason for this sub. I’ll like to read your white paper, find out how different you really are.

According to their website, the whitepaper will be published before main net release on 2019 Q4.
There is a form on the website which you can fill it to receive the whitepaper immediately after it is published. 

[jillscarbrough]

- -

According to their website, the whitepaper will be published before main net release on 2019 Q4.
There is a form on the website which you can fill it to receive the whitepaper immediately after it is published. 

 You're so lucky, White-paper been posted here by the CEO....   👇

Whitepaper: https://t.co/m6yAY2gYtR?amp=1

[Rozita]

You're so lucky, White-paper been posted here by the CEO....  👇

So, why the website says that the whitepaper has not published yet?
Here is what is written on Moneychain official website.
"We will publish the project whitepaper closer to the main-net release estimated for 2019Q4."

Whenever the official whitepaper is published they will likely ask Sapta to add that to the OP.

[jillscarbrough]

You're so lucky, White-paper been posted here by the CEO....  👇

So, why the website says that the whitepaper has not published yet?
Here is what is written on Moneychain official website.
"We will publish the project whitepaper closer to the main-net release estimated for 2019Q4."
 

 Tha's why I said you (-we-) are lucky enough to be here, while even their web doesn't update yet...

Whenever the official whitepaper is published they will likely ask Sapta to add that to the OP.

 The link above is: [Technical whitepaper — release 2 — revision 4] September 19, 2019
 (Written by Maximiliano Carjuzaa and Alejandro Bokser with the collaboration of Javier García Sanchez)

 And the one who posts the link here on this forum is one of its writer [Maximiliano Carjuzaa / maxcarjuzaa - MoneyOnChain's Co-Founder]

 I'm not saying this is the official one, but it's enough for us to know more about the project...Isn't it?

[xafzw]

keep

[jillscarbrough]

keep

 What you've been keeping?  


 So, today I look around MoC's Testnet (I'm not doing in-depth test yet),  
 here's a few MoC's platform view:



 We'll need Metamask for login to the platform,
 but don't forget to check the instruction (how to do it) - this one! (Read it! - Trust Me!)  

Here are some instructions to access Money On Chain Testnet
https://drive.google.com/file/d/1lflkp7A0ExXpL5Ch-uM-TUeeaCOSq3a6/view

[gomeZLTC]

i try to login using metamask, but there is something error appear, no connection, what am missing here?

[jillscarbrough]

i try to login using metamask, but there is something error appear, no connection, what am missing here?

 I told you...

 We'll need Metamask for login to the platform,
 but don't forget to check the instruction (how to do it) - this one! (Read it! - Trust Me!) 

Here are some instructions to access Money On Chain Testnet
https://drive.google.com/file/d/1lflkp7A0ExXpL5Ch-uM-TUeeaCOSq3a6/view

 You'll need to create custom RPC on your Metamask...
 Read the instructions!!!

[sukoyomi]

i try to login using metamask, but there is something error appear, no connection, what am missing here?

 I told you...

 We'll need Metamask for login to the platform,
 but don't forget to check the instruction (how to do it) - this one! (Read it! - Trust Me!) 

Here are some instructions to access Money On Chain Testnet
https://drive.google.com/file/d/1lflkp7A0ExXpL5Ch-uM-TUeeaCOSq3a6/view

 You'll need to create custom RPC on your Metamask...
 Read the instructions!!!

The way is looks so long down, it does cause a little laziness, but the instructions are made very easy to understand. And also that picture are really help and motivates.

[jillscarbrough]

-
 You'll need to create custom RPC on your Metamask...
 Read the instructions!!!

The way is looks so long down, it does cause a little laziness, but the instructions are made very easy to understand. And also that picture are really help and motivates.

 Yeah, indeed... 
 It's 15 pages only, and 87.54% of the contents are instructions in the form of images,
 I think it'll be so much different from 15-pages textual-instructions.

[HodlerKing101]

When will the team publish the whitepaper? That's one of the things that people look for tbh