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Author Topic: The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread  (Read 164809 times)
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RawDog
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April 16, 2014, 10:24:17 AM
 #81

Read the paper? Whoa, whoa, you're expecting a bit much from the people who have opinions about it.
True dat.  Even if I did read the paper, I almost never let fact get in the way of a strong opinion. 

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dirvine
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April 16, 2014, 12:39:31 PM
 #82

A quantity of 429,496,729 coins will be available for purchase, this equates to 10% of all safecoins
When JR did the MasterProtocol 100% of coins were available for purchase.  Even JR bought (with real money: bitcoin) every single share allocated to him.  Now, MaidSafe wants to take 90% of the coins - and decide later how they will distribute those.  What?!  

I was a big proponent with money set aside to do this project.  Now, I am not going to spend one red cent.  

What is this? is it Ripple?  How in the world do you anticipate your project being worth $80 million today?  That is more than 4 times the present value of Mastercoin which has money in the bank and some nice working funcitons.  All you guys have is 'seven years work' (which indicates you are very slow to build anything) and a fancy video.  

I am out.  I recommend to others to consider this outrageous valuation before throwing money into RipOffSafe.  

[MaidSafe employee]
Very possibly our messaging is not clear enough. There are ZERO founders shares here (as I said we intend to eat as the same table all other developers will on this network). This will explain some more of the thoughts   http://metaquestions.me/2014/04/12/safecoin-why-its-safe-and-what-it-means-for-us-all/ There are linked articles to see the whole thing being discussed.

7 years is a while, we were pretty underfunded so long hours and not much support. STL took 15 years to create with the best minds and largest companies. Everything cannot be built like 'there is an app for that'. Some stuff is hard, as I am sure you know, you can see the code clearly from here if it helps. http://maidsafe.net/network-platform-developers

The Master Protocol guys have been amazing and pulled together an excellent system for this participation by all of us. MaidSafe staff are all putting in their bitcoins, because we believe in it and believe in being equal. I hope this helps the understanding a bit.
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April 16, 2014, 12:45:28 PM
 #83

Yeah but Maidsafe if I understand correctly is built on mastercoin? Or traded on mastercoin? (Huh) either way, will make mastercoin more popular, and as an owner of some few mastercoins, I support it. :-)

As far as I understand it, MaidSafe uses Mastercoin only in the beginning - as long as there are no Safecoins available. So what you get when sending BTC or MSC are in fact Safecoin-tokens with the right to be converted to real Safecoins later.

Safecoin is supposed to be an independent cryptocurrency, so there will be no need to use any external protocol like Mastercoin forever.

ya.ya.yo!
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April 16, 2014, 12:46:05 PM
 #84

Yeah but Maidsafe if I understand correctly is built on mastercoin? Or traded on mastercoin? (Huh) either way, will make mastercoin more popular, and as an owner of some few mastercoins, I support it. :-)

As far as I understand it, MaidSafe uses Mastercoin only in the beginning - as long as there are no Safecoins available. So what you get, when sending BTC or MSC are in fact Safecoin-tokens with the right to be converted to real Safecoins later.

Safecoin is supposed to be an independent cryptocurrency, so there will be no need to use any external protocol like Mastercoin forever.

ya.ya.yo!

Sounds complicated....

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April 16, 2014, 12:49:31 PM
 #85

Yeah but Maidsafe if I understand correctly is built on mastercoin? Or traded on mastercoin? (Huh) either way, will make mastercoin more popular, and as an owner of some few mastercoins, I support it. :-)

As far as I understand it, MaidSafe uses Mastercoin only in the beginning - as long as there are no Safecoins available. So what you get when sending BTC or MSC are in fact Safecoin-tokens with the right to be converted to real Safecoins later.

Safecoin is supposed to be an independent cryptocurrency, so there will be no need to use any external protocol like Mastercoin forever.

ya.ya.yo!

Exactly. This allows the network to be seeded, independent dev pods to be seeded (MaidSafe competitors) and the whole thing to kick off for us all. MasterCoin helps the seeding then it converts to safecoin on the network. safecoin is independent of any existing mechanism.

I like it and cannot thank JR Craig and Ron enough for being able to facilitate this. It's a great use of the Master Protocol and I recommend it to others who look to seed independant currencies, or any such service. It is very pleasurable to work with the guys.
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April 16, 2014, 01:03:02 PM
 #86

Hi all,

I created a simple website which allows to lookup any unspent output from every address:

http://redeem.bitwatch.co/

Furthermore a raw transaction can be created which collects and combines unspent outputs whereby outputs from multiple addresses can be used.

The most important feature: standard multi signature outputs are included and it's very easy to redeem Mastercoin or Counterparty dust.



The basis for this was sipa's awesome address indexed Bitcoin branch which received some further additions.

Please note: this is experimental and feedback is appreciated. Smiley

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April 16, 2014, 02:51:56 PM
 #87

Hi all,

I created a simple website which allows to lookup any unspent output from every address:

http://redeem.bitwatch.co/

Furthermore a raw transaction can be created which collects and combines unspent outputs whereby outputs from multiple addresses can be used.

The most important feature: standard multi signature outputs are included and it's very easy to redeem Mastercoin or Counterparty dust.



The basis for this was sipa's awesome address indexed Bitcoin branch which received some further additions.

Please note: this is experimental and feedback is appreciated. Smiley

very cool!

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April 16, 2014, 04:38:30 PM
 #88

Yeah but Maidsafe if I understand correctly is built on mastercoin? Or traded on mastercoin? (Huh) either way, will make mastercoin more popular, and as an owner of some few mastercoins, I support it. :-)

As far as I understand it, MaidSafe uses Mastercoin only in the beginning - as long as there are no Safecoins available. So what you get when sending BTC or MSC are in fact Safecoin-tokens with the right to be converted to real Safecoins later.

Safecoin is supposed to be an independent cryptocurrency, so there will be no need to use any external protocol like Mastercoin forever.

ya.ya.yo!

Exactly. This allows the network to be seeded, independent dev pods to be seeded (MaidSafe competitors) and the whole thing to kick off for us all. MasterCoin helps the seeding then it converts to safecoin on the network. safecoin is independent of any existing mechanism.

I like it and cannot thank JR Craig and Ron enough for being able to facilitate this. It's a great use of the Master Protocol and I recommend it to others who look to seed independant currencies, or any such service. It is very pleasurable to work with the guys.

Does safecoin have its own blockchain then?
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April 16, 2014, 05:39:18 PM
 #89

Exactly. This allows the network to be seeded, independent dev pods to be seeded (MaidSafe competitors) and the whole thing to kick off for us all. MasterCoin helps the seeding then it converts to safecoin on the network. safecoin is independent of any existing mechanism.

I like it and cannot thank JR Craig and Ron enough for being able to facilitate this. It's a great use of the Master Protocol and I recommend it to others who look to seed independant currencies, or any such service. It is very pleasurable to work with the guys.

Do you anticipate this being useful for the MaidSafe network?  http://www.extremetech.com/computing/178757-how-to-build-your-own-180tb-raid6-storage-array-for-9305

I plan to build one or two of these and deploy them with the express purpose of supporting MaidSafe.  Do you anticipate that 100Mbps is a bandwidth bottleneck which could prohibit full use of such a storage facility on MaidSafe?

Advice would be welcome.
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April 16, 2014, 06:29:18 PM
 #90

Yeah but Maidsafe if I understand correctly is built on mastercoin? Or traded on mastercoin? (Huh) either way, will make mastercoin more popular, and as an owner of some few mastercoins, I support it. :-)

As far as I understand it, MaidSafe uses Mastercoin only in the beginning - as long as there are no Safecoins available. So what you get when sending BTC or MSC are in fact Safecoin-tokens with the right to be converted to real Safecoins later.

Safecoin is supposed to be an independent cryptocurrency, so there will be no need to use any external protocol like Mastercoin forever.

ya.ya.yo!

Exactly. This allows the network to be seeded, independent dev pods to be seeded (MaidSafe competitors) and the whole thing to kick off for us all. MasterCoin helps the seeding then it converts to safecoin on the network. safecoin is independent of any existing mechanism.

I like it and cannot thank JR Craig and Ron enough for being able to facilitate this. It's a great use of the Master Protocol and I recommend it to others who look to seed independant currencies, or any such service. It is very pleasurable to work with the guys.

Does safecoin have its own blockchain then?
Yes, but it is not a chain, it is a distributed consensus mechanism. So it is anonymous and not in the raw form, open to audit. Auditing tools may be built in an opt in way, but safecoin is not part of the blockchain.
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April 16, 2014, 07:56:39 PM
 #91

How can I buy MSC?  I'm on masterchain.info but I don't see how to deposit BTC and trade.
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April 16, 2014, 08:06:54 PM
 #92

How can I buy MSC?  I'm on masterchain.info but I don't see how to deposit BTC and trade.
https://masterxchange.com/market.php?currency=msc
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April 16, 2014, 08:09:28 PM
 #93

Isn't there a decentralized exchange working?

Edit: Do I have to download the wallet for that?
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April 16, 2014, 11:14:51 PM
 #94

Isn't there a decentralized exchange working?

Edit: Do I have to download the wallet for that?

Yes! It works nicely as well! (A little slow, but it's decentralized!) You need a full bitcoin installation and then you get the masterchest wallet, you can find it all on the mastercoin homepage.

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April 17, 2014, 12:42:38 AM
 #95

Isn't there a decentralized exchange working?

Edit: Do I have to download the wallet for that?

Maybe you can try to use https://masterchain.info/wallet.html

Here is the Blog about masterchain.info : http://blog.mastercoin.org/2014/04/15/masterchain-wallet-first-beta-release/
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April 17, 2014, 01:02:11 AM
Last edit: April 18, 2014, 03:10:42 AM by BADecker
 #96

I have downloaded the "MasterchestWalletAlpha_Bin.zip" once yesterday, and 3 times today, from the "Windows Wallet" link at http://www.mastercoinwallets.org/. The files extract just fine using either 7-zip or WinZip. But when I try to run the "Masterchest_Wallet.exe" program, my Norton deletes it, and gives me a message that the file contained the "SONAR.Heuristic.120" trojan.

I am still successfully using the "MasterchestWalletAlpha_Bin.zip" that I downloaded mid-March. But I wanted to update it.

Any ideas anyone?

Smiley

EDIT: Okay, the same thing happens when I download the download zip from github at https://github.com/zathras-crypto/masterchest-wallet.


EDIT: I haven't determined what the problem was, so I bypassed Symantec. We'll see. Mastercoin works just fine.
I ran the computer using a Linux OS off a USB Flash drive. It seems to have deleted the anomaly.

Don't be afraid to donate Bitcoin >>> 1JDJotyxZLFF8akGCxHeqMkD4YrrTmEAwz !
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April 17, 2014, 05:50:50 AM
 #97

I have Norton antivirus on my computer and had no problems installing Masterchest.  I also scanned the .exe on virustotal.com (which includes Symantec) with no warnings -- i.e. all clear 0/50.

Maybe check if your Norton is up-to-date.
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April 17, 2014, 08:04:53 AM
Last edit: April 18, 2014, 03:11:16 AM by BADecker
 #98

I have Norton antivirus on my computer and had no problems installing Masterchest.  I also scanned the .exe on virustotal.com (which includes Symantec) with no warnings -- i.e. all clear 0/50.

Maybe check if your Norton is up-to-date.


Thanks. Since others haven't expressed this problem, maybe it's the NSA tracking me. I'll do some checking to see. Thanks again.

Smiley

EDIT: I haven't determined what the problem was, so I bypassed Symantec. We'll see. Mastercoin works just fine.
I ran the computer using a Linux OS off a USB Flash drive. It seems to have deleted the anomaly.

Don't be afraid to donate Bitcoin >>> 1JDJotyxZLFF8akGCxHeqMkD4YrrTmEAwz !
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April 17, 2014, 08:24:31 AM
 #99

Following
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April 18, 2014, 06:05:55 AM
 #100

Who's the lucky person that gets to trade 100's of thousands of Mastercoin for Bitcoin at the current market rate through this IPO??
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