The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread

[Spekulatius]

POS based voting could be useful for voting on assets, like the upcoming la'ZooZ' asset for example (or any other company for that matter). If the vote is up for paying its holders a larger dividend or for relocating the incorporation to another jurisdiction, those holders that have the largest stake in it, will be affected (maybe more then anyone else) and may vote for a responsible outcome. This alone is no assurance for responsible voting though, because the largest holder could simply have short term gains in mind and may try to dump his stake after the vote.

[vokain]

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

Since Ron asked me if I could act as correspondent between these meetings and the public, here are the meeting notes. Unfortunately I was out with the flu the week the meeting occurred so forgive me for not getting this out sooner, I realize it wouldn’t have taken too much time.

https://docs.google.com/document/d/14xGC1dp2nMrmsijsruDvng6cFzM2DAg-io5Ki06SJNM

In summary, because of their point-man roles in bizdev and dev, Ron asked us if it was okay that they join us on board meetings for their perspectives and any quick clarification board members may need during our conference calls. On May 24 we all agreed it was prudent to give them access to the board@ mailing list so they are able to give immediate feedback on anything as they see it, but they of course will not have voting rights.

Raising bitcoins through fundraising was discussed; long story short it was decided that it’d be much more useful to everyone to accept them directly

David Irvine of MaidSafe was recently voted in to our board for the unique (and I have to say extremely valuable) perspective on operations he has offered, in addition to of course, being the caretaker of a hefty chunk of MSCs. After he was voted in, as CEO of MaidSafe he was concerned of the attention he could or could not afford in helping lead the Mastercoin Foundation so he has suggested that Nick Lambert, their COO, take his stead. Temporarily or for good we do not yet know, but from what I've observed Nick is one of those guys willing us to give us the unvarnished truth and I very much support either one to be able to offer their perspectives in addition to injecting some fresh blood into the board. Personally I hope we can piggyback off his ongoing responsibility with MaidSafe finances as I personally think we could use some more attention there...

As a dev has hinted recently, we’re developing a voting token. On the dev-side I do not know too much but I’m sure our git-hub might have something, you’re also free to follow/ask our dev@ mailing list about it. Apparently David Johnston will follow up with a proposal to switch over to it when the time comes.

Our first priority dev-wise however will be the meta distributed exchange first. Seems to be the logical next step after crowdfunding, to be able to exchange those smart property tokens for other currencies. Craig and the rest of dev@ are planning on a July 31 Omniwallet release for this and shortly thereafter in Mastercore—very exciting.  

We’re also working to raise more money from VCs to fund ongoing development as you guys are well aware that our funds will not last into perpetuity. David Johnston (david@mastercoin.org) is our point-man for that.

Some discussion about spinning off for-profit MSC companies. I imagine that the Foundation possibly would invest in an equity stake in these developments when they’re publicly crowdfunded, and in addition to those efforts directly raising the utility of MSC/the MP, having a stake in these spinoffs could also be a lucrative investment for the Foundation, offering another source of capital and installing a positive feedback loop on development. Details in the link.

Budgeting unfortunately was not discussed too much at this meeting, maybe because Brock and I couldn’t make it (though I do not actually know why). We have a meeting on the 17th so we’ll be sure to address it officially then.

No idea who could take over for Ron and do his job if he left. Apparently this is something Ron, JR and David are currently in discussion about to figure out details for a plan-B.

JR offers a perspective on Bitcoin prices. I personally believe in cycles of the financial market too;  while we have stressed it’s not something to depend on when talking about Foundation finances, speaking outside of that I am inclined to believe that this summer will incur another set of conditions that would incite another bull run due to the undervalued utility of bitcoins and the overwhelming room there is to grow as people realize the safe haven for preserving wealth that bitcoin provides amidst financial uncertainties like the ongoing ECB talks of negative interest rate policies and Obama lowering student loan interest rates (though personally this helps me short term as a student), global unrest and conflict, etc.


===
This should sum up everything. Please, the community, feel free to ask for clarification or give us some feedback and any help whether through your perspectives or contacts etc. that you deem you might be able to offer here and we’d graciously receive it. Again, sorry for not getting this out earlier.

[vokain]

POS based voting could be useful for voting on assets, like the upcoming la'ZooZ' asset for example (or any other company for that matter). If the vote is up for paying its holders a larger dividend or for relocating the incorporation to another jurisdiction, those holders that have the largest stake in it, will be affected (maybe more then anyone else) and may vote for a responsible outcome. This alone is no assurance for responsible voting though, because the largest holder could simply have short term gains in mind and may try to dump his stake after the vote.

I'd imagine the largest holder would be the proprietor of the company and I'd hope that they'd have enough long-term self-incentive to act in the shares' best long-term interests. David Johnston et al.'s notion of a Distributed Autonomous Corporation (https://github.com/DavidJohnstonCEO/DecentralizedApplications) I think is relevant to this kind of organizational framework.

[ripper234]

No idea who could take over for Ron and do his job if he left. Apparently this is something Ron, JR and David are currently in discussion about to figure out details for a plan-B.

To clarify:

Being a CEO, especially for the first time, is very challenging.
I have had some talks over the last 8 months where I asked for feedback and explored the possibility of finding a replacement.
David, Craig and J.R kept telling me I'm doing a good job.
I kept not believing them.

Lately (few months and especially few weeks), I think I've improved considerably.
The last week I was so active with productive creation it's amazing.
I get so much good stuff done. The results will be evident to you soon if they're not already.

When Craig told me this morning that I was doing a good job ... I actually believed him!

So to summarize:

1. I do not plan to quit any time soon.
2. If I quit, I will find someone else who will take my place.
3. I do not plan to quit any time soon.

Thanks Antony for acting on the important role of mediator.

P.S
You may have asked me to review this text, and I gave it only a glimpse. I certainly didn't realize you were talking off-hand about me quitting.
Such talk without the proper context can create panic / troll fests ... please alert me next time there's anything sensitive you want me to review with extra caution.

Thanks for your great work!

P.S.S
If you want to be our "plan B" in case I do leave some time in the future - left me know! I'm always happy to meet qualified people and discuss possibilities.

Cheers!
Ron
Chief Ninja Officer*
Executive Director
Chief Executive Officer
Mastercoin Foundation



* Even if I leave sometime, I will remain Chief Ninja Officer for life.

[mishax1]

^ Good post!   

[vokain]

Let's imagine for a second there is going to be some kind of proof-of-stake based voting mechanism in Mastercoin, would you like to have the ability to transfer voting rights or should this be prohibited by all means? An implication of the transfer of voting rights is that votes may be traded which may, or may not be something to aim for.

If transferring voting rights are allowed, would it be easy for the owner of the Mastercoin stake to call back those voting rights at any time?

IMO it should be allowed since you anyway could bribe the owner of the vote to vote in their awy.

Hmm..better question then: How private can votes be?

[xibeijan]

MasterCoin talks a lot but hasn't delivered anything significant.  If you want a real decentralized exchange then get Nxt http://nxt.org

[mishax1]

MasterCoin talks a lot but hasn't delivered anything significant.  If you want a real decentralized exchange then get Nxt http://nxt.org

LOL     NXT?   get real..  Your developer abandoned the project shortly after he made his profit and went to the next one now called Qora.. (rumors right ?)  which was distributed only to 135 users who made up to X100 profit and keep the price ultra high..   nah thanks.

[JPage]

It appears that mastercoin has been delisted from coinmarketcap.com.  What gives?

[jeroenn13]

Low trading volume.

[dexX7]

Click on "all", it's actually still there, being #1 of "low-volume" with a cap of ~$13M - this would be #9 in the normal view.

[littleblue]

why cant use msc to buy genercoin？
msc is over or close？

[W2014]

Why isn't MSC on a widely used exchange? XCP is on Bter and Poloniex. Is there a technical difference between XCP and MSC that limits MSC to MasterXchange? What is the Mastercoin Foundation and CEO doing to promote wider participation and trading in MSC? 

[mishax1]

关于为什么msc不在普通的交易所交易这个问题，好多人已经问了很多遍了。为什么msc基金会一直没有答复呢？推广、营销msc不是你们应该做的吗？

Could you stop using Chinese on this thread ? thanks.

Why isn't MSC on a widely used exchange? XCP is on Bter and Poloniex. Is there a technical difference between XCP and MSC that limits MSC to MasterXchange? What is the Mastercoin Foundation and CEO doing to promote wider participation and trading in MSC?  

Top dev priority right now is the RPC interface for MasterCore (cross-platform implementation) which exchanges have been asking for. Also, there's the distributed exchange for people who don't like trusting a website with their money.

[ejinte]

关于为什么msc不在普通的交易所交易这个问题，好多人已经问了很多遍了。为什么msc基金会一直没有答复呢？推广、营销msc不是你们应该做的吗？

Could you stop using Chinese on this thread ? thanks.

Why isn't MSC on a widely used exchange? XCP is on Bter and Poloniex. Is there a technical difference between XCP and MSC that limits MSC to MasterXchange? What is the Mastercoin Foundation and CEO doing to promote wider participation and trading in MSC?  

Top dev priority right now is the RPC interface for MasterCore (cross-platform implementation) which exchanges have been asking for. Also, there's the distributed exchange for people who don't like trusting a website with their money.

Will this make it possible to put other coins created on the mastercoin protocol into exchanges as well? Like maidsafecoin.

[littleblue]

Why isn't MSC on a widely used exchange? XCP is on Bter and Poloniex. Is there a technical difference between XCP and MSC that limits MSC to MasterXchange? What is the Mastercoin Foundation and CEO doing to promote wider participation and trading in MSC? 

why？why not？anybody know？

[littleblue]

why cant use msc to buy genercoin？
msc is over or close？

why？

[dexX7]

why cant use msc to buy genercoin？
msc is over or close？

why？

There was never a crowdsale. They simply created tokens. Who knows what they do with them. Watch here:

https://masterchest.info/lookupsp.aspx?sp=7
https://masterchest.info/lookupsp.aspx?sp=6

[mishax1]

关于为什么msc不在普通的交易所交易这个问题，好多人已经问了很多遍了。为什么msc基金会一直没有答复呢？推广、营销msc不是你们应该做的吗？

Could you stop using Chinese on this thread ? thanks.

Why isn't MSC on a widely used exchange? XCP is on Bter and Poloniex. Is there a technical difference between XCP and MSC that limits MSC to MasterXchange? What is the Mastercoin Foundation and CEO doing to promote wider participation and trading in MSC?  

Top dev priority right now is the RPC interface for MasterCore (cross-platform implementation) which exchanges have been asking for. Also, there's the distributed exchange for people who don't like trusting a website with their money.

Will this make it possible to put other coins created on the mastercoin protocol into exchanges as well? Like maidsafecoin.

" yes, in fact it will be even easier for exchanges to implement new coins since they will only need to flip a switch in the mastercoin daemon without needing to set up new software, test it, integrate it, security audit, etc."

[littleblue]

why cant use msc to buy genercoin？
msc is over or close？

why？

There was never a crowdsale. They simply created tokens. Who knows what they do with them. Watch here:

https://masterchest.info/lookupsp.aspx?sp=7
https://masterchest.info/lookupsp.aspx?sp=6

whatever，thank  your reply very much . one world  one dream!