The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread

[hmmmstrange]

It's official, the foundation has less then 2 more months of funding. 1400 btc as of this moment, they owe 500 btc for September's work leaving 900 btc left. I expect they will hold elections for the end of November when the coffers are empty.


Matt Y, It's actually under 20% of today's market cap.

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[pt7]

It's official, the foundation has less then 2 more months of funding. 1400 btc as of this moment, they owe 500 btc for September's work leaving 900 btc left. I expect they will hold elections for the end of November when the coffers are empty.


Matt Y, It's actually under 20% of today's market cap.

Something does not make sense.  If 900 BTC was raised with most other cryptos in an IPO, it would be considered a highly successful IPO. That would enough for bounties for a long time.  If any elections, it seems like they should they should be held today.

[Matt Y]

Matt Y, It's actually under 20% of today's market cap.

My mistake.

[hmmmstrange]

http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market/

Isn't this the same Robbie that Ron and JR told to piss off?  Looks like Robbie will have more then 50 more days of funding.

[BldSwtTrs]

RIP Master protocol.

[hmmmstrange]

Is it true that 10 of the 14 RBB people got fired or did they voluntarily leave? Are they now working for Robbie? Does this mean the foundation can operate for 4 months now instead of 49 days?

Good thing they all dumped their dev msc when they received them so we shouldnt expect a huge dump of dev coins now.

[dexX7]

Is it true that 10 of the 14 RBB people got fired or did they voluntarily leave? Are they now working for Robbie? Does this mean the foundation can operate for 4 months now instead of 49 days?

Good thing they all dumped their dev msc when they received them so we shouldnt expect a huge dump of dev coins now.

Hm.. mind to share on what basis you think this is the case?

[mishax1]

Is it true that 10 of the 14 RBB people got fired or did they voluntarily leave? Are they now working for Robbie? Does this mean the foundation can operate for 4 months now instead of 49 days?

Good thing they all dumped their dev msc when they received them so we shouldnt expect a huge dump of dev coins now.

Hm.. mind to share on what basis you think this is the case?

Hes trolling because he didn't get rich from MSC.. and xcp just got to the moon..

[hmmmstrange]

Is it true that 10 of the 14 RBB people got fired or did they voluntarily leave? Are they now working for Robbie? Does this mean the foundation can operate for 4 months now instead of 49 days?

Good thing they all dumped their dev msc when they received them so we shouldnt expect a huge dump of dev coins now.

Hm.. mind to share on what basis you think this is the case?

Only 4 people got their RBB payment. It's usually 13 or 14 people. Hard to believe that the 9 people are working for free now. I noticed Judith had her salary cut to 3k last month from 6k. Nice to see how transparent the foundation is. Cant even find someone to rebuild the mastercointalk database in 4 days.

[crazy_rabbit]

http://www.wired.com/2014/10/overstock-com-assembles-coders-build-bitcoin-like-stock-market/

Isn't this the same Robbie that Ron and JR told to piss off?  Looks like Robbie will have more then 50 more days of funding.

Indeed it is. One of the same guys I said "Please work with this guy". Well, congrats to Robbie and woe to us. Not that Mastercoin is finished, just that it's going to have to really look inward and figure out what Mastercoin's future is supposed to be. Coindesk didn't even MENTION mastercoin in it's announcement about Overstock- but it did mention Swarm and Ethereum.

Interestingly, there isn't really any evidence that Overstocks new project will actually use XCP. We assume so, but the way the coindesk article was written it sounded more like maybe they will be building something entirely new. Wallstreet from the ground up. So they might not use XCP at all. (Although XCP people would be pissed!).

Maybe Mastercoin should look at some other 'killer app', or go out and sell the project to some other wallstreet investor. Seriously JR- you've got to let go of holding all those coins. If there was one single major roadblock to this project, I think it's your massive holdings and outsized influence on the project, regardless of leadership style, it just doesn't leave enough room for other talented individuals to feel like they can make a substantial contribution. I mean seriously- counterparty was your idea, and now look where we are.

[Matt Y]

Interestingly, there isn't really any evidence that Overstocks new project will actually use XCP. We assume so, but the way the coindesk article was written it sounded more like maybe they will be building something entirely new. Wallstreet from the ground up. So they might not use XCP at all. (Although XCP people would be pissed!).

This has been confirmed. The system they are building will be built directly on Counterparty.

[funnyking]

Hallo to all.
I really don't undestand why you are so concerd about Counterparty.
I think that in the short period Counterparty Boom will be a very good thing for the Mastecoin price.
Just becuse Mastercoin is so depressed and a lot of interest is getting in all those protocols involved in the alternative use of the bitcoin blockchain.

Ok we are all waiting for something like the Counterparty-Overstock deal (not sure there were a deal, btw)  in the Mastercoin camp. But for now is very probable a price spike for the Mastercoin.

In general any sucsess in the alternative use of the bitcoin blockchain is a good news for Mastercoin.

.....well, hey Mastrcoin Foundation, knock knock

(sorry for my english, I was a lazy student)

[crazy_rabbit]

Interestingly, there isn't really any evidence that Overstocks new project will actually use XCP. We assume so, but the way the coindesk article was written it sounded more like maybe they will be building something entirely new. Wallstreet from the ground up. So they might not use XCP at all. (Although XCP people would be pissed!).

This has been confirmed. The system they are building will be built directly on Counterparty.

Ah! Well this is really great for Counterparty then.

I do have to wonder- is there really any good reason why these particular tokens need to have any more then a nominal value? You only need an extremely tiny amount of XCP or MSC to make a transaction, so why should these coins get sky-high valuations? Also, again pointing at JR: his massive reserves of coins essentially puts a market cap on how high the value of the coin can have, since the price will never rise higher then he is willing to sell at, he kind of acts like a weird central bank. And as the valuation gets higher and higher, he can sell forever smaller amounts of coin so his stash might never get significantly depleted. Kind of an issue.....not to mention it's his public selling of coins that essentially crashed the market backwhen.... and has never really recovered.

[funnyking]

Ah! Well this is really great for Counterparty then.

I do have to wonder- is there really any good reason why these particular tokens need to have any more then a nominal value?

Well. It depends on how MasterProtocol will be implented in such application.
Let's say that we can immagine a system that need some MSC burned to function as a CrowFunder (as an example).
It's all about smart coding and smart ideas.
pr

[romerun]

I do have to wonder- is there really any good reason why these particular tokens need to have any more then a nominal value?

many reasons. Dex-wised, using native Token is way smoother than interacting with BTC. Problem is liquidity, kinda like chicken-egg problem of BTC and fiat. BTC in Ctp/MSC network still has a lot of friction comparing to native token.

Other protocols beyond Dex pry not going to support BTC, for example, bet, scissor hammer paper, more advanced escrow / collateral that may come in the futures.

Dex is the BTC gateway to get native token for other uses.

Also Counterparty does not require any tiny amount of XCP to make transaction, because fundamentally it is not needed otherwise it will look like rent seeking network that nobody is going to use in this free decentralize era.

[crazy_rabbit]

Also Counterparty does not require any tiny amount of XCP to make transaction, because fundamentally it is not needed otherwise it will look like rent seeking network that nobody is going to use in this free decentralize era.

Really? I didn't know that I thought both Counterparty and Mastercoin needed small amounts of their native tokens to make transactions. Does counterparty then work differently then mastercoin in this respect or am I just totally off basis?

[Matt Y]

Also Counterparty does not require any tiny amount of XCP to make transaction, because fundamentally it is not needed otherwise it will look like rent seeking network that nobody is going to use in this free decentralize era.

Really? I didn't know that I thought both Counterparty and Mastercoin needed small amounts of their native tokens to make transactions. Does counterparty then work differently then mastercoin in this respect or am I just totally off basis?

Yes.

Yes, my understanding is the two protocols, while having similar theoretical functionalities, are built very differently.

[udecker]

Is it true that 10 of the 14 RBB people got fired or did they voluntarily leave? Are they now working for Robbie? Does this mean the foundation can operate for 4 months now instead of 49 days?

Good thing they all dumped their dev msc when they received them so we shouldnt expect a huge dump of dev coins now.

Hm.. mind to share on what basis you think this is the case?

Only 4 people got their RBB payment. It's usually 13 or 14 people. Hard to believe that the 9 people are working for free now. I noticed Judith had her salary cut to 3k last month from 6k. Nice to see how transparent the foundation is. Cant even find someone to rebuild the mastercointalk database in 4 days.

This information is entirely inaccurate.  All RBB’s have been paid for September as usual, and non-RBB individual bounties will be paid by the 15th of the month, also as usual.  One RBB had his last month at the end of September, but that is the only change that has occurred.

The past 30 days have been some of the most productive the team has seen, with the 0.0.8.1 milestone release and the rollout of OmniEngine.  The team is excited to be release the experimental Master Core UI shortly as well. 

If anyone has any specific questions about individual bounties, please email me directly.

Craig

[hmmmstrange]

LukeJR managed to get his blacklist code in Gentoo by default

static struct BlacklistEntry BlacklistedPrefixes[] = {
    {0x946cb2e0, 0x946cb2e0, "Mastercoin"},
    {0x06f1b600, 0x06f1b6ff, "SatoshiDice"},
    {0x74db3700, 0x74db59ff, "BetCoin Dice"},
    {0xc4c5d791, 0xc4c5d791, "CHBS"},  // 1JwSSubhmg6iPtRjtyqhUYYH7bZg3Lfy1T
    {0x434e5452, 0x434e5452, "Counterparty"},
    {0x069532d8, 0x069532da, "SatoshiBones"},
    {0xda5dde84, 0xda5dde94, "Lucky Bit"},
};

[mishax1]

LukeJR managed to get his blacklist code in Gentoo by default

static struct BlacklistEntry BlacklistedPrefixes[] = {
    {0x946cb2e0, 0x946cb2e0, "Mastercoin"},
    {0x06f1b600, 0x06f1b6ff, "SatoshiDice"},
    {0x74db3700, 0x74db59ff, "BetCoin Dice"},
    {0xc4c5d791, 0xc4c5d791, "CHBS"},  // 1JwSSubhmg6iPtRjtyqhUYYH7bZg3Lfy1T
    {0x434e5452, 0x434e5452, "Counterparty"},
    {0x069532d8, 0x069532da, "SatoshiBones"},
    {0xda5dde84, 0xda5dde94, "Lucky Bit"},
};

lol bullshit.