2013-08-25 MasterCoin to create new altcoins in Bitcoin’s block chain

Lethn

legendary

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Quote

Programmers stuffing data into the blockchain without anyone able to opt-out is complete and utter bullshit. Stop doing this, you fucking fucks.

That comment was priceless, I do agree though, the concept by itself sounds a lot like god awful DRM and as we all know that kind of thing is just legalised spyware designed to fuck with your PC, I'm getting increasingly suspicious of these coins coming out that are trying to latch onto Bitcoins' wallet.

KFR

hero member

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Per ardua ad luna

Quote from: TraderTimm on August 26, 2013, 04:42:46 PM

Also known as "Blockchain Bloat Squared" if it actually takes off.

Step 1. Exploit the existing hashing power of the Bitcoin network

Step 2. Contribute... nah, just make something you can profit off of, contributing is for idiots

Step 3. Profit at the expense of all the Bitcoin miners and full nodes

Hard Forks? Oops!, we'll be counting our money over here while you nerds go fix something we fucked up for everyone.

Programmers stuffing data into the blockchain without anyone able to opt-out is complete and utter bullshit. Stop doing this, you fucking fucks.

Bang on. Agree 100%.

It's ballz. Cool

TraderTimm

legendary

Activity: 2408

Merit: 1121

Also known as "Blockchain Bloat Squared" if it actually takes off.

Step 1. Exploit the existing hashing power of the Bitcoin network

Step 2. Contribute... nah, just make something you can profit off of, contributing is for idiots

Step 3. Profit at the expense of all the Bitcoin miners and full nodes

Hard Forks? Oops!, we'll be counting our money over here while you nerds go fix something we fucked up for everyone.

Programmers stuffing data into the blockchain without anyone able to opt-out is complete and utter bullshit. Stop doing this, you fucking fucks.

Rygon

hero member

Activity: 520

Merit: 500

Just seems like another centralized altcoin where the developer stands to gain the most. There is also over 2000 BTC raised for the project on the implied promise of future gains. That's enough reason to be suspicious and wonder if it's a scam.

zeroday

donator

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Quote

This is a MasterCoin feature that adds an extra layer of protection to those storing their wealth in digital currency. With savings addresses, MasterCoin has the ability to reverse transactions

Quote

When the value of the “commodity coin” goes too high, the currency’s escrow fund will start creating new commodity coins in exchange for MasterCoins. When the value is too low, it will trade MasterCoins in exchange for commodity coins, then destroy those coins. Through this control of supply and demand, a MasterCoin derived currency can sustain a balanced value.

What idiots! They are just re-inventing fiat. Regulated shitcoin "backed" by bitcoin, the same way as USD was "backed" by gold.

LiteCoinGuy

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In Satoshi I Trust

another scam coin....i have so sell my feathercoins now Tongue

patricktim

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http://www.coindesk.com/mastercoin-to-create-new-altcoins-in-bitcoins-block-chain/

Topic: 2013-08-25 MasterCoin to create new altcoins in Bitcoin’s block chain (Read 1673 times)