The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread

[TraderTimm]

Yes, you'll end up holding an illiquid trading vehicle for a coin nearing its 1-year anniversary with very little to show for it.

That's pretty funny.  I bought MSC at .01 last year and today they are worth .03.  That is 300% appreciation.  Can you please give me another investment so good as MSC? 

MSC is working hard on a kick-ass protocol.  They don't care one bit about the exchange and liquidity.  Those are private markets having nothing to do with protocol development.  If people buy and sell there, it has nothing to do with the money held by the foundation to hire programmers to continue their work to advance the protocol.  The foundation does indeed hope BTC price goes up so they have more money to pay others, but only the day traders give a flying fuck about the very meager trade activity in MasterXChange.  MasterXChange is no reflection whatever true value of the MastercoinProtocol.  Only a very tiny percentage of MSC holders participate in MasterXChange activity - and nearly all of those are kooks. 

MasterXChange doesn't reflect any true consensus of value - only those holding appreciable amounts of MSC could tell you that. 

TraderTimm - you sure spew out tons of shit.  Did you lose your wife's ring in this deal?

Oh my, if I was so off-the-point, as you claim, why are you so angry?

The best part of your contradictory post is this one:

"MasterXChange is no reflection whatever true value of the MastercoinProtocol.  Only a very tiny percentage of MSC holders participate in MasterXChange activity - and nearly all of those are kooks."

So, let me get this straight. I "spew out tons of shit", but you claim that the exchange that is made for trading MSC doesn't reflect "true value". Wow, better apply to the ECB to run the Euro, because that is A-Grade level bullshit right there.

If your market can't be used to determine its value, then why is MSC so hell-bent on these offerings? Shouldn't they be focusing on the "core" of MSC instead of these pump-and-dumps?

Ah, that's right... they can't, because the money is all that this project cares about.

Thanks, you just proved my point for me, and made yourself look rather silly at the same time.

[RawDog]

Here is why Mastercoin is 100% fucked forever and never going to amount to anything.

1) The management team is a joke.  Ron has only made one announcement in 6 months and it was just to tell everyone he has a 'personal assistant'.  Apparently he fancies himself as some premium executive too busy for menial tasks suitable for assistants.  Joke.

2) It took them 3 months to solve an forum issue which prevented newcomers from registering.  Therefore, there is NO participation and no energy in the community.  Everyone went to NXT which has a very nice user interface.  

3) To even further block any interested parties in getting to the forum, the mastercoin foundation page http://www.mastercoin.org/ still (been that way since the beginning) has a broken URL which is supposed to point to the forum.  At the bottom of the page, the link to the forum is: https://www.mastercointalk.org/.  Doesn't work.  If one removes the 's', you'll get the correct address.  But how many people have time to tinker with broken URLs to get to the information they are looking for?  None.  They all go to NXT where shit just works.  This is a very effective way to keep forum participation to a minimum.  That is one way to deal with trolls - eh Ron?

People having some interest in the MasterProtocol try to learn more and hit deadends everywhere.  The people responsible for the frontend of the Mastercoin project have failed so miserably it isn't funny.  Ron hired a bunch of fools from TelAviv to run the website - and it has crushed the project.  NXT has a fantastic web presence.  Why doesn't someone fix this?  Time to fire Ron and get a real leader.  

When is the next vote for Exec Director coming up?

[msin]

That's pretty funny.  I bought MSC at .01 last year and today they are worth .03.  That is 300% appreciation.  Can you please give me another investment so good as MSC? 

Nxt, Drk, Doge, BC, etc...

[Bitoy]

Um, looking at the upcoming crowdsales- some look good, but projects like "Genercoin" are not very inspiring- what with the lack of text formatting and the 'breaking bad' layout for their video. Ouch.

The other projects look better, but it begs the question- isn't crowdfunding with mastercoin itself a bit dangerous for a startup if the market is so thin? The whole point is to get money they can spend right now to fund development. But if you're funding development with an illiquid asset (which to be fair may be worth a a ginormous sum of money one day) and it's not worth much TODAY, aren't you kind of shooting yourself in the foot? Don't you really just need Bitcoin?

The next crowd sale will give the issuer a choice either bitcoin or mastercoin.  All will probably choose bitcoin.  this is the best way to move the mastercoin protocol forward.

https://github.com/mastercoin-MSC/spec/pull/185

Btw Crazy_rabbit, do you plan to list your cool project with mp?

[mishax1]

Who brought all the trolls?  eehhh I lost my money after buying msc at a higher price we need to fire ron.   pathetic.

[ejinte]

Who brought all the trolls?  eehhh I lost my money after buying msc at a higher price we need to fire ron.   pathetic.

what happen with the maidsafe was really bad and people should be able to criticizes however if this latest news are true regarding future crowdsales and that the problems been solved then it's really good news. 

[hmmmstrange]

When is the next vote for Exec Director coming up?

It's a 2 year electoral cycle. By my estimates next elections will be 8 months after the foundation is bankrupt.

I just hope the foundation will agree to release the board meeting minutes before then, so we know who to elect.

[mishax1]

Who brought all the trolls?  eehhh I lost my money after buying msc at a higher price we need to fire ron.   pathetic.

what happen with the maidsafe was really bad and people should be able to criticizes however if this latest news are true regarding future crowdsales and that the problems been solved then it's really good news. 

Nothing at the last two pages can be labeled as criticism.

[RawDog]

Who brought all the trolls?  eehhh I lost my money after buying msc at a higher price we need to fire ron.   pathetic.

Can't you fucking read Mishax?  It says fire Ron because links on the front page to the forum are fucked up and the entire face of Mastercoin is mismanaged. 

Besides the fact that when a CEO in the real world doesn't keep the stock price up he does get fired. 

Both arguments say fire Ron - therefore not pathetic.

[RawDog]

what happen with the maidsafe was really bad a totally criminal scam and people should be able to criticizes however if this latest news are true regarding future crowdsales and that the problems been solved then it's really good news.  

Fixed it.

[hmmmstrange]

Now that new ipos have the option to issue their tokens in exchange for btc, what is the purpose of anyone holding msc? Is there a scenario where someone would want msc instead of btc? How is maidsafe going to be compensated for all the msc they raised now?

[dacoinminster]

http://blog.mastercoin.org/2014/06/05/major-improvement-to-crowdsales/

As for what gives MSC value, MSC is used in the distributed exchange. Everything trades against MSC. MSC is used in various ways in the other upcoming features too. In many cases, MSC will be the default currency for a feature, and other currencies can be used in exchange for burning a small amount of MSC.

We have a collaborative paper in progress which outlines the use cases for MSC, and defends the concept of app-coins in general. Look for that soon.

[hmmmstrange]

JR, can you please release the board meeting minutes and possibly get the board to approve a complete budget for the next year.

[dacoinminster]

JR, can you please release the board meeting minutes and possibly get the board to approve a complete budget for the next year.

1) There are no minutes, only notes. We decide what to release later so people feel comfortable speaking freely.
2) We don't have a budget, we have a burn rate, which is regularly reviewed by the board.

[hmmmstrange]

JR, can you please release the board meeting minutes and possibly get the board to approve a complete budget for the next year.

1) There are no minutes, only notes. We decide what to release later so people feel comfortable speaking freely.
2) We don't have a budget, we have a burn rate, which is regularly reviewed by the board.

Unfortunatly, the foundation is a public charity, 501c. You have no choice but to comply. Who do I contact to provide me with the minutes? You can if you want charge me for photocopying the documents. Do you take msc for payment?

edit: You do have a choice, but you do not get to keep your 501c if you do not comply. You may want to look at the costs of retroactively loosing the 501c, before making a decision.

The capital gains on those $120 bitcoins.......

[RawDog]

The capital gains on those $120 bitcoins.......

Asshole==hmmmstrange

However, the minutes can be extremely brief.  There is no requirement regarding the level of detail of those. 


So here is your fucking minutes hmmmstrange:

Minute 1: Opened discussion.
Minute 2: Discussed shit.
Minute 3: Discussed how fucking annoying people like hmmmstrange are.
Minute 4: Closed discussion. 

Put that in your pipe and smoke it HmmmerDick.

[littleblue]

JR, whatever，thank your  REPLY. I think this is good.

[mishax1]

Who brought all the trolls?  eehhh I lost my money after buying msc at a higher price we need to fire ron.   pathetic.

Can't you fucking read Mishax?  It says fire Ron because links on the front page to the forum are fucked up and the entire face of Mastercoin is mismanaged. 

Besides the fact that when a CEO in the real world doesn't keep the stock price up he does get fired. 

Both arguments say fire Ron - therefore not pathetic.

You don't have to repeat yourself, troll.

No body is going to fire anyone over a broken link on a webpage.  and your opinion about the management is irrelevant.

And since MSC are not "real world stocks" (which are 270%-440% now higher than the IPO) the foundation still acts on keeping price up no matter what you say.

So quit being an ass and troll this thread with these nonsense. thanks. 

[littleblue]

   WHO IS mastercoin CEO？
JR? or RON? or Dominik？

[littleblue]

  WHO IS mastercoin CEO？
JR? or RON? or Dominik？

or David A. Johnston？