The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread

[mishax1]

What does this mean?

"Overall Balance   139.991883068635   <- Does not include some funds moved to RBB tab (yet)   "


Can we please get the status on the last cold wallet of 1000 btc?

This is a top secret information, you are not allowed to know it.

[1714786969]

1714786969

[crazy_rabbit]

What does this mean?

"Overall Balance   139.991883068635   <- Does not include some funds moved to RBB tab (yet)   "


Can we please get the status on the last cold wallet of 1000 btc?

This is a top secret information, you are not allowed to know it.

What is with the fascination about how much money is left? You already basically know the answer: Not much. And at todays BTC prices whats left doesn't last very long. So........

[Cablez]

What does this mean?

"Overall Balance   139.991883068635   <- Does not include some funds moved to RBB tab (yet)   "


Can we please get the status on the last cold wallet of 1000 btc?

This is a top secret information, you are not allowed to know it.

What is with the fascination about how much money is left? You already basically know the answer: Not much. And at todays BTC prices whats left doesn't last very long. So........

Yeah, so they go funding again.  Maybe they can get farther and talk a little less game this time.  sheesh

Real question:  Does JR even code for pulling a salary?

[dacoinminster]

Remaining BTC has been sent to David Johnston, for paying the people working on the protocol. The RBB tab is out-of-date though and does not show these funds yet.

Future funding is coming from our sponsors, as David described in the blog post.

[hmmmstrange]

Remaining BTC has been sent to David Johnston, for paying the people working on the protocol. The RBB tab is out-of-date though and does not show these funds yet.

Future funding is coming from our sponsors, as David described in the blog post.

To the tune of $200k per month, to maintain current burn rate?


edit: "refactoring" is a nice fuzzy term for abandoning code and writing it again. Essentially omni is so buggy, it requires a full rewrite. Just another mastercoin foundation product to add to the list of crap code.

edit2: As far as I can see, the remaining BTC have not been sent. They are still sitting in the cold wallets created by this transaction. When are you guys going to tell the truth?

https://blockchain.info/tx/41bf29ec81143c3c50b464e10487abba36aab07591792ddebe2a22458d15847a

“When it becomes serious, you have to lie." -Jean Claude Juncker JR

[crazy_rabbit]

Remaining BTC has been sent to David Johnston, for paying the people working on the protocol. The RBB tab is out-of-date though and does not show these funds yet.

Future funding is coming from our sponsors, as David described in the blog post.

To the tune of $200k per month, to maintain current burn rate?


edit: "refactoring" is a nice fuzzy term for abandoning code and writing it again. Essentially omni is so buggy, it requires a full rewrite. Just another mastercoin foundation product to add to the list of crap code.

edit2: As far as I can see, the remaining BTC have not been sent. They are still sitting in the cold wallets created by this transaction. When are you guys going to tell the truth?

https://blockchain.info/tx/41bf29ec81143c3c50b464e10487abba36aab07591792ddebe2a22458d15847a

“When it becomes serious, you have to lie." -Jean Claude Juncker JR

Strange- what exactly is it that you want from the mastercoin project? You seem permanently dissatisfied, yet considering MSC is nearly worthless at this point, I don't get what is exactly motivating you forward. I can't imagine the price could dunked farther then it already has gone as for people still holding its worthless to try and sell now, so you can't be playing a 'scoop it up cheap' game. So whats your angle? You don't have any suggestions of how to move forward, and all the other trolls have long since moved on. So whats the point?

[hmmmstrange]

Strange- what exactly is it that you want from the mastercoin project? You seem permanently dissatisfied, yet considering MSC is nearly worthless at this point, I don't get what is exactly motivating you forward. I can't imagine the price could dunked farther then it already has gone as for people still holding its worthless to try and sell now, so you can't be playing a 'scoop it up cheap' game. So whats your angle? You don't have any suggestions of how to move forward, and all the other trolls have long since moved on. So whats the point?

Fair question. It has come to the point where there is no more point.

As one of the first investors, my incentive to fund this project was not to enrich JR but to encourage new technologies to experiment on the block chain. In this regard, mastercoin has exceeded my expectations with the new round of bitcoin 2.0 projects.

Unfortunately, some very questionable people got involved with the mastercoin foundation and just had one thing on their minds. Get rich quick. This mindset drove mastercoin into the ground. JR and Ron spent the first 6 months popping champagne bottles instead of actually organizing the development of the project. This lead to countless missed opportunities. Very capable developers were rejected by the foundation to actually produce a daemon because JR was so high on his horse, claiming that project for himself. Personal issues aside, JR is not a leader.

Now a year later, a lot has changed. The devs are on the right track but they have no organizational skills. There is no project leader. And most of all there is no money left. There is no incentive to rewrite the omni and the msc daemon as funds are month to month now. The current devs have very little investment in mastercoins, or their success. There are other projects that are well funded and head hunters are hounding them.

Now for why i spout so much crap. NO ONE ELSE WAS!

If you listened to anyone from the foundation, everything was rosy. Always on schedule, making huge progress every day. Huge investors and startups were moments away from announcing they were going to adopt and build on mastercoin. All wishful thinking and some outright lies.

The foundation, though claiming to be open, were far from it. They hid all the infighting from the investors. They hid all the financial problems and still to this day are hiding their problems.

Couple last words: I, like most investors, put capital towards this idea and not the people behind it(which in my book, the #1 rule, which i broke). This is one rare occasion where overlooking the people felt worth the risk as it just needed to be done. I am not sore I invested as I believe in the evolution of projects mastercoin has spawned.

[crazy_rabbit]

Strange- what exactly is it that you want from the mastercoin project? You seem permanently dissatisfied, yet considering MSC is nearly worthless at this point, I don't get what is exactly motivating you forward. I can't imagine the price could dunked farther then it already has gone as for people still holding its worthless to try and sell now, so you can't be playing a 'scoop it up cheap' game. So whats your angle? You don't have any suggestions of how to move forward, and all the other trolls have long since moved on. So whats the point?

Fair question. It has come to the point where there is no more point.

As one of the first investors, my incentive to fund this project was not to enrich JR but to encourage new technologies to experiment on the block chain. In this regard, mastercoin has exceeded my expectations with the new round of bitcoin 2.0 projects.

Unfortunately, some very questionable people got involved with the mastercoin foundation and just had one thing on their minds. Get rich quick. This mindset drove mastercoin into the ground. JR and Ron spent the first 6 months popping champagne bottles instead of actually organizing the development of the project. This lead to countless missed opportunities. Very capable developers were rejected by the foundation to actually produce a daemon because JR was so high on his horse, claiming that project for himself. Personal issues aside, JR is not a leader.

Now a year later, a lot has changed. The devs are on the right track but they have no organizational skills. There is no project leader. And most of all there is no money left. There is no incentive to rewrite the omni and the msc daemon as funds are month to month now. The current devs have very little investment in mastercoins, or their success. There are other projects that are well funded and head hunters are hounding them.

Now for why i spout so much crap. NO ONE ELSE WAS!

If you listened to anyone from the foundation, everything was rosy. Always on schedule, making huge progress every day. Huge investors and startups were moments away from announcing they were going to adopt and build on mastercoin. All wishful thinking and some outright lies.

The foundation, though claiming to be open, were far from it. They hid all the infighting from the investors. They hid all the financial problems and still to this day are hiding their problems.

Couple last words: I, like most investors, put capital towards this idea and not the people behind it(which in my book, the #1 rule, which i broke). This is one rare occasion where overlooking the people felt worth the risk as it just needed to be done. I am not sore I invested as I believe in the evolution of projects mastercoin has spawned.

Fair enough- I actually feel much the same about the project and when the counterparty guys were making their offer to develop I was kicking my shoes to give them a chance. Ces't la vie.

I've come to believe that the original coin holders, in particular JR are over invested- as much as I appreciate what JR has done at the birth of his idea, it's just not fairly distributed enough. No matter how many coins you hold one can't help but feel like you're working to make JR rich.

Here's a radical idea- and this post might get deleted for just mentioning it: what if someone were to fork Mastercoin, reduce JR's share of coins, by diving up his share and fund raise by selling them to new investors? Sort of like a Mastercoin 2.0. We could raise new funds, or vest the existing devs to motivate them. Counterparty's momentum is only getting stronger, and to be honest- at some point people are just going to use counterparty for the sheer liquidity their rising volume is bringing. It won't matter how much better mastercoin is at that point- no volume, no liquidity, no point.

I'm just thinking out loud here at the moment, trying to open the debate. JR- would be nice to hear from you as well.

[dacoinminster]

I don't think such an idea would get much traction. At least, I hope not. I paid for my coins like everybody else.

Regardless, I seriously doubt a divided camp would be more effective than a united one.

[hmmmstrange]

I don't think such an idea would get much traction. At least, I hope not. I paid for my coins like everybody else.

Regardless, I seriously doubt a divided camp would be more effective than a united one.

JR, remember when you said you would buy your coins at the end of the crowdsale as not to collect a huge bonus? You can correct your greedy mistake by burning 30% of your coins now.

[crazy_rabbit]

I don't think such an idea would get much traction. At least, I hope not. I paid for my coins like everybody else.

Regardless, I seriously doubt a divided camp would be more effective than a united one.

I absolutely agree- you did pay for them fair and square, but don't you think at this point that perhaps it's too many? As the coins aren't worth much these days, and the volume is negligible, if coins represent a sense of ownership and commitment- then the enthusiasm is rather centralized in your wallet. I know the foundation continues to labor forth, but so much of the community has left.  If the project really is the future, even a fraction of what you hold is a future fortune. But if holding onto every last coin means there is no future for the project- then whats the point? Counterparty is winning this the same way bitcoin is winning this: every single day the distance between the front runner and the runner up widens. If you were to half your holdings- perhaps do a crowd sale with those coins  to raise more funds, I'm not sure. Don't get me wrong, I appreciate all that's been done here, and I certainly appreciate the timely updates on the blog- but unless there is a secret mailing list I don't know about that is alive and buzzing, the community here is gone. No matter how fantastic the software is- we won't go anywhere if no one uses it.

[bitwhizz]

[Cablez]

[]http://a.gifb.in/052011/1304618376_tumbleweed-gif.gif[/img]

Exactly.

[crazy_rabbit]

Yes, well- maybe even I am beating a dead horse here.......

[NOjust]

is MSC still have a clear and solid plan to develop?
look at xcp.

[Aterna]

It would appear that XCP has dranken Mastercoin's milkshake.

[CIYAM]

Not sure if there are any Mastercoin devs left but if there are then there is AT (http://ciyam.org/at) and also a 20 BTC bounty to get it implemented here: https://bitcointalk.org/index.php?topic=826263.0.

[jrmg]

Not sure if there are any Mastercoin devs left but if there are then there is AT (http://ciyam.org/at) and also a 20 BTC bounty to get it implemented here: https://bitcointalk.org/index.php?topic=826263.0.

There are. And if someone complete this in lets say 1 year, then they do that better in 5 year. (if you donate first 2000 BTC for development work.)

[hmmmstrange]

Actually - it is about as simple as that - but it must be a mainnet that isn't so weak it just gets destroyed due to an ASIC attack or the like overnight (just because that would simply not look good and I do reserve the right to decide who gets the bounty).

Understand that the "atomic cross-chain transfer" needs to be done *using AT* (so you can't use any other method to do it) and also that the AT and AT-API source code created to accomplish this must be made open source (the rest of the coin's source code isn't really of any concern to me).

The point of the bounty is basically to get open source code that can be "easily dropped into any existing Bitcoin clone" for using AT (thus providing an easy to implement alternative to Ethereum or Codius).

If you want to do it with a complete crap coin then perhaps discuss it with me via PM (as maybe I can link things up with a better coin and the reward could be shared as I have been approached by some clones that have a decent rep but their devs are not likely to work on this until next year).

What would the bounty be to implement it in mastercoin?

[crazy_rabbit]

Actually - it is about as simple as that - but it must be a mainnet that isn't so weak it just gets destroyed due to an ASIC attack or the like overnight (just because that would simply not look good and I do reserve the right to decide who gets the bounty).

Understand that the "atomic cross-chain transfer" needs to be done *using AT* (so you can't use any other method to do it) and also that the AT and AT-API source code created to accomplish this must be made open source (the rest of the coin's source code isn't really of any concern to me).

The point of the bounty is basically to get open source code that can be "easily dropped into any existing Bitcoin clone" for using AT (thus providing an easy to implement alternative to Ethereum or Codius).

If you want to do it with a complete crap coin then perhaps discuss it with me via PM (as maybe I can link things up with a better coin and the reward could be shared as I have been approached by some clones that have a decent rep but their devs are not likely to work on this until next year).

What would the bounty be to implement it in mastercoin?

As long as you meet the bounties requirement- you get 20BTC so far. Write OP on that thread to ask if Mastercoin Counts, but I don't see why not. Mastercoin desperately needs an honest-to-god purpose to make it worthwhile to keep going.