[ANN] Masterchain.info - Kickstarter on the blockchain with distributed exchange

[grazcoin]

There is fully distributed way to crowdfund using the blockchain and a distributed exchange:






Given you have a good idea which can interest the crowds - mint your distributed kickstarter coin (infos on Masterchain.info), publish on your site the list of benefits there are for donors (rebate, free products, wall of fame, shares, whatever), and fire your campaign.

To collect the funds just create sell offers of your tokens like: https://masterchain.info/index.html?filter=sell&currency=GRZ
Any donor could buy your campaign tokens directly on the blockchain, and even continue trading them after the campaign is over using the distributed exchange.

The whole crowdfunding procedure is totally distributed on the blockchain and using a mastercoin based protocol (Mint2B protocol), where you hold the exodus address, so you depend on no one. Bitcoins are exchanged against your tokens.

Donors that want to claim later the benefits will be required to send those tokens to an address of yours.
Otherwise, they can keep selling those token on the free market with distributed exchange, and potentially make gains.

In the following example (which is not crowdfunding, but could be used as one):
https://masterchain.info/index.html?filter=sell&currency=GRZ

there are few sell offers:
4000 coin for 0.02 BTC/coin
2000 coin for 0.03 BTC/coin
4000 coin for 0.04 BTC/coin
0.1 coin for 0.07 BTC/coin

Donors that paid 0.02 BTC could already make gains selling their tokens once the first batch is sold.
If your product/service is cool enough - this can become a hot market!
This dynamic live method may attract more donors than the static existing ones.

So what do you guys think about it?

[Remark: the original purpose of masterchain.info was a more general one, but I was contacted by few entrepreneurs asking about usage of masterchain.info for crowd-funding, and I thought it could be good to publish it here as a service]

[1715422231]

1715422231

[1715422231]

1715422231

[RawDog]

There is fully distributed way to crowdfund using the blockchain and a distributed exchange:






Given you have a good idea which can interest the crowds - mint your distributed kickstarter coin (infos on Masterchain.info), publish on your site the list of benefits there are for donors (rebate, free products, wall of fame, shares, whatever), and fire your campaign.

To collect the funds just create sell offers of your tokens like: https://masterchain.info/index.html?filter=sell&currency=GRZ
Any donor could buy your campaign tokens directly on the blockchain, and even continue trading them after the campaign is over using the distributed exchange.

The whole crowdfunding procedure is totally distributed on the blockchain and using a mastercoin based protocol (Mint2B protocol), where you hold the exodus address, so you depend on no one. Bitcoins are exchanged against your tokens.

Donors that want to claim later the benefits will be required to send those tokens to an address of yours.
Otherwise, they can keep selling those token on the free market with distributed exchange, and potentially make gains.

In the following example (which is not crowdfunding, but could be used as one):
https://masterchain.info/index.html?filter=sell&currency=GRZ

there are few sell offers:
4000 coin for 0.02 BTC/coin
2000 coin for 0.03 BTC/coin
4000 coin for 0.04 BTC/coin
0.1 coin for 0.07 BTC/coin

Donors that paid 0.02 BTC could already make gains selling their tokens once the first batch is sold.
If your product/service is cool enough - this can become a hot market!
This dynamic live method may attract more donors than the static existing ones.

So what do you guys think about it?

[Remark: the original purpose of masterchain.info was a more general one, but I was contacted by few entrepreneurs asking about usage of masterchain.info for crowd-funding, and I thought it could be good to publish it here as a service]

Cloning Mastercoin and leaving all your colleagues behind to run your own program is going to fall very flat.  Mastercoin Foundation may be imperfect today, but it is an army of hard working guys trying to get a complex system running well.  They are almost there.  Your system is cool - but a one or two man show will be DEAD in no time as you don't have a support staff to do all the other things necessary.  Good code isn't enough.  Good luck, but I think you should have stayed and continued to help MSC grow organically instead of thinking you have the key component and starting a parallel effort. 

By the popularity and response in your threads alone - you should be dead in two more weeks.  I wonder if Mastercoin would welcome you back to their dev team?  Doubt it. It is hard to work with a guy who wants to do everything himself in his own way.  What a shame to waste good talent.

[grazcoin]

Cloning Mastercoin and leaving all your colleagues behind to run your own program is going to fall very flat.  Mastercoin Foundation may be imperfect today, but it is an army of hard working guys trying to get a complex system running well.  They are almost there.  Your system is cool - but a one or two man show will be DEAD in no time as you don't have a support staff to do all the other things necessary.  Good code isn't enough.  Good luck, but I think you should have stayed and continued to help MSC grow organically instead of thinking you have the key component and starting a parallel effort.  

By the popularity and response in your threads alone - you should be dead in two more weeks.  I wonder if Mastercoin would welcome you back to their dev team?  Doubt it. It is hard to work with a guy who wants to do everything himself in his own way.  What a shame to waste good talent.

I understand how you may see the situation, so let me give some essential insights here.

• I clone/fork my own code - nothing else.
• The foundation didn't want my code (wallet). I preferred to continue developing without any support until it is usable (now). The foundation just took the parser as their official implementation, forked the parser, forked the wallet and went to another direction.  That's fine according the open source rules, but I don't have to continue this way. It was not easy to work with the foundation, as internal politics can be sometimes tiring and I am not the first mastercoin core dev that stepped down.
  
• My aims for the project are freedom, decentralization, philanthropy and charity - not getting rich and load private pockets.
  
  • freedom and decentralization - Masterchain.info project enables an alternative way to enjoy bitcoin 2.0 freely for everyone with full control over the exodus address, without being forced to purchase other people tokens. The payment that I do ask is to cover server and code maintenance, but anyone could simply fork my code and run it totally freely. It is just a present for the community.
  • philanthropy and charity - the project promotes donation to charity as part of the mint2b protocol. Creating value for token is also done through those donations. If a new donation is given as part of this project - I am more than satisfied.
    
• An open source project *without* a fork is a bad project. Creating the fork shows that I do think the protocol and coin have value. It shows that there are many other possibilities to use the protocol, and indirectly it increases the valuation of the original project.
  
• This project should live side by side with mastercoin, and even promote mastercoin technology. It is not aimed to replace it or compete it. I truly wish the foundation success. I think mastercoin is a good project, and I will keep holding mastercoins and help with an advice when needed. I also intend to voluntarily keep maintaining critical bugfixes - as long as mastercoin-tools is the official parsing/validating code base for mastercoin.

I hope the background is clearer now.
Grazcoin