Topic: MasterCoin: New Protocol Layer Starting From “The Exodus Address” - page 28. (Read 448462 times)

thank you

To receive MSC, you just need to ensure you have the private key of the address. To send MSC, you need to download specific software (Jr's MSc advisor?) and better test on test net first.

I don't think there are any special requirements for bitcoin.conf. txindex merely allows one to get transactions by their hash, it cannot be harmful in any way. (Well, aside from eating some space on your disk and making processing a bit slower.)


No, it reindexes blockchain you already have on disk... Which takes time, yes.

Hi all,

I have 2 questions regarding the handling of MSC in windows, using bitcoin-qt:

1) I want to be able to send and receive MSC. My bitcoin.conf has the following:

rpcuser=XXXX
rpcpassword=XXXXXX
server=1
daemon=1
txindex=1

Can I send/receive MSC without modifying the above conf? I want the above conf due to counterparty. If I change the txindex then the whole blockchain will download again.


2) What steps are needed to be able to send/receive MSC? I mean I'd like a simple how to (eg wallet setup).


Thanks in advance

The smallest amount of MSC would be sufficient.

I think the problem with MSC is that software developers are too embroiled with layering protocol layers but forgetting that economics is just as important.

Bitcoin is a protocol for ensuring that there are no double spends, plain and simple.  Sure you can embed messaging and maybe facebook likes or what ever you can think of,  but what is the point if it does not tie back to the currency?

I might as well go back to HTTP, at least its instantaneous and not like 1 message every 10 minutes!

Anyway,  with iXcoin's implementation,  if you want 1 million shares, then you create maybe 10,000 IXC to hold them.   The price of each of that shares is defined by the company that it represents,  all that IXC does is ensure you can trade these shares in distributed exchanges.    Is there a price relationship between the user issued shares and IXC,  yes there is,  the user issued shares price doesn't go below 1/10,000 of an IXC.  In short, they should be worth more than the paper that its printed on!

Why use iXcoin versus Bitcoin?   Well it's like printing stock certificates on paper versys printing on gold.   

Why iXcoin instead of any other alt coin?   iXcoin is secured by almost 6 peta hash per second (Bitcoin is at 12 peta has per second).   So you are pretty much assured that exchanges of your user defined coin is extremely secure.

Why haven't I heard of iXcoin?   The user defined currencies are in the works right now and plan on releasing it with the 0.8.7 version of the client.   Previous work was to update the old version to be on par with Bitcoin at 0.8.6.

Jeezus Christ Man!  That's fucking creepy.  But I am pretty happy about this too.  Obviously the project is much better off with Zath going full speed and fully committed. 

I am going to send three Thai ladies to his house to do his laundry, clean the house, and any other 'chores' he might need taken care of. 

Not sure if we can accurately assess at this point the demand for such services. How strong will demand be for a decentralized stock exchange? Will it be strong enough to gather enough liquidity? I don't see why not. People don't like very much the current offerings and they might flock en masse to mastercoin exchanges.

It is a drawback, it introduces additional layers of LIQUIDITY that simply won't be there

You need base currency liquidity (just assume bitcoin), you need mastercoin liquidity, then you'll need your Masterbitcoin liquidity, then you need liquidity in the ASICMiner stock

god forbid you were trying to trade options on that stock!

Here's the latest dev update:

Master Protocol & #Mastercoin: Development Update 2 http://ow.ly/srmwa

This is extraordinarily good news!  Congrats, Zathras!

I'm so happy I . . .

 . . . I think I just wet myself.

Hey guys,

Having just finished up with our weekly dev sync con-call, I'm now pleased to publicly announce that I will be joining the project full-time!

The foundation has been working tremendously hard to attract quality talent to drastically speed up development and I can't express enough how excited I am to have the opportunity to dedicate significantly more time to Mastercoin.  We have a great team working on the project and with a significant number of new hires coming on board too and getting involved the next few months should be an exciting time!

I will be ceasing my current role and transitioning to working full time on development on 24 Feb.

Thanks to the community for all your support to date
Zathras

https://bitcointalk.org/index.php?topic=400290.0;all

Disastercoin is dead in the water.

http://boombustblog.com/blog/item/9188-the-future-of-money-is-here-boombust-zero-trust-digital-currency-contracts

Made by a guy who understands financial markets as well, and has been on CNBC as a subject expert on various matters.

Have fun with the 5,000 BTC you collected.

No, because these are the terms of the bounty https://trello.com/c/jE5MdzpW/60-10000-first-existing-exchange-that-supports-mastercoin

that bounty should have gone to masterxchange then

I believe there was an ETA of 2 months given back in November, so launch date is drawing near.

In the meantime, people can use the https://masterxchange.com centralized exchange to buy and sell Mastercoins (MSC). Works quite well. They have also increased the bounty to $10k for the first existing exchange that accepts Mastercoin.

If there is a MSC exchange currently I have to apologize. However, afaik there are only being test msc traded currently. Is there already a release date when there will be real MSC being traded?



This quote is taken from the official github spec. (https://github.com/mastercoin-MSC/spec). This is handled currently by the master coin foundation. So they hold all dev coins currently. Nobody knows when the master coin foundation actually "trusts" their Master Protocol Distributed Bounty System. Maybe in a year after release? Would be a good estiminate if you ask me, but would mean the master coin foundation holds 1-0.5^1 devMSC until then easily. Meaning they have created an additional 5% instead of 10% margin for them. (formula taken from their github spec), deciding who to actually give those devMSC to. This is something I learned the hard way. Yet waiting for a 3k+ Nxt Bounty which won't be payed in the long run I believe.

I asked precisely the same question several days back.  The answer is that there's no difference between 1 MSC and .1 MSC in terms of functionality.

That is why the iXcoin "Smart Currency" implementation ties a user defined coin back to an actual IXC amount.   So say you create 1,000,000 shares of a corporation. If each share consumes 1/1,000 of an IXC, then you need to purchase 1,000 IXC to release your shares through the IXC network.  Mastercoin does not have this behavior,  iXcoin and colored coins do have this behavior.

@proinside

There is a decentralized MSC exchange in Alpha stage at the moment, which will go live soon.

Master dev coins are meant is incentive for those who are interested in building mastercoin apps and sevices. Will be given as bounties to help develop the infrastructure. These Dev mastercoins don't belong to the founders.