Topic: MasterCoin: New Protocol Layer Starting From “The Exodus Address” - page 30. (Read 448480 times)

MSC is infinitely divisible like bitcoin is. There can be decent demand for small amounts

Who here can articulate anything regarding MSC? Who should I message in private chat?

But you do require some MSC to create some things. I know there are some that don't require MSC to create but depends on which one.

Lots of things can be created on top of it as third layer, even a decentralized social network.

Back to previous point; say you want to buy some Google shares that trade in USD and you need to own USD pegged currency for that. You could probably convert MSC to MastercoinUSD (usd pegged currency) in order to buy Google stock but should cost you zero mastercoins to participate after that.

The white paper indicates that to create a security as a 'smart property' no MSC are required.
I assume the 'smart property' would then be traded on the distributed exchange for MSC.

There will be plenty of demand for MSC. The devs believe it's very undervalued at this point and for good reason, I think. We don't know yet how many MSCs will be required but expect to see some decent MSC demand.

so if it turns out people only need .0001 MSC to sign securities or something then the demand for MSC falls through the floor

Guess remains to be seen after the smart property features are implemented. Don't think anyone knows such specifics at this point, but I may be wrong.

interesting, so how many Mastercoin would the issuer need to issue a new security with X number of shares at Y price? is there a formula? any predictable measure?

You would need zero Mastercoins to do that.  Only the issuer of the asset might need Mastercoins.

Say I want to place an order for 100 AsicMiner shares at 5btc each, how many Mastercoin will I need?


This hypothetical scenario will require 500 bitcoin and fill multiple asks on the mastercoin exchange

The purpose is that I need a frame of reference for how many Mastercoin I would actually need if I planned to participate in the capital markets



I posted a thread about this here https://bitcointalksearch.org/topic/wtb-100-asicminer-shares-at-5-btc-each-how-many-mastercoin-will-i-need-400781

If someone wanted to help out with testing and bug reporting, how would they go about it? Is there a specific thread for testing? Is there a list of what needs testing and/or how to go about it?

I don't understand Mastercoin much and I've wondered that too.
But what if Mastercoin is used as a medium to exchange Cryptos as a part of a decentralized exchange.
Not sure if it would be needed, but the properties it has beyond BTC and the value it would carry, could
be quite valuable in these situations.
Feel free to mock me if I am way off!
IAS

They are working on it. Please read before posting.

Important update on the coding contest: We'll be paying out half of this bounty early (on 1/22/2014). Details here: https://bitcointalksearch.org/topic/m.4398023

Also, I'm selling a tiny fraction of my MSC, mostly off the exchanges. Details here: https://bitcointalksearch.org/topic/m.4376270

The announcement caused some panic selling before people realized that I'm selling because I believe in Mastercoin and want to devote myself to it full time, then the price came right back up. Silly volatility!

can someone explain what is the difference between 2 MSC, 5 MSC, or .1 MSC?

ie. if MSC is not a currency, but access to the MSC protocol, what do people do with different amounts of MSC?

eg. What can I do with 100 MSC that is different than what I can do with 0.1?

Is there some set limit to what 1 MSC can do, say, I can create one currency with every 1 MSC? So with 100 MSC I can create 100 currencies?

have MSC a wallet-Qt for Windows ?

there's a new blog post covering some of the main issues and developments over the last 6 weeks.

STARTING OFF 2014: MASTERCOIN’S TOP 10 YOU WANT TO KNOW ABOUT
http://blog.mastercoin.org/2014/01/08/what-weve-been-up-to/

a new development update should go out tomorrow are as well.

regarding to the trading speed, I don't think decentralized can match centralized, but it could be semi-decentralized for example AM-coin backed by AM-share created in mastercoin is to be traded in crypsy, btc-e and litecoin-global, off the chain of mastercoin, and the deposit/withdraw are done in mastercoin chain. This shifts the complication of legal issue in execution part to decentralized and gets the speed of centralized, best of both worlds.

dacoinminster, can you explain in a bit more detail how a decentralized exchange running through MC can realistically operate, in particular with regards to speed (ie, orderbook matching, allowing for HFT, etc). Or are we talking about smart property / security and other financial instrument trading?

Thank you!

Part of the original Master Protocol concept was the ability for anyone to easily create a currency on top of the BTC blockchain. 

A simple proof-of-concept, even if that’s all it was, is enough technical justification for Mastercoins (MSC) to exist.  Create the means to create a currency by creating a currency.

MSC provide an example of what can live on top of a cryptocurrency blockchain.  If it has similar but separate utility to the underlying coin as well, it will have its own value, more if its utility is higher. 

Is it a technical necessity?  No. 

Tim Berners-Lee didn’t just publish a whitepaper, and he didn’t just write a protocol, he made this: http://info.cern.ch/hypertext/WWW/TheProject.html
Which doesn’t look anything like this: http://bitcoinwisdom.com/markets/btcchina/btccny

…but they are delivered via the same technological mechanism.  Applied genius with renumerated development resources. 

Satoshi didn’t just publish a whitepaper, either.  He made real BTC.  And has a million of them.  And a massive community of developers and enthusiasts, all building an economy from scratch, making MasterCoin, counterparty, ColoredCoins, etc feasible to conceive.  Four years ago, few understood why he made “bit" coins.

So, if the Master Protocol lives atop the BTC blockchain, and Mastercoins live on top of the Master Protocol….

Who’s going to figure out what else can live on top of the Master Protocol?  The few who understand what else might.  And look: dedicated resources to do just that.

The ability to push the boundaries of what could live on top of Mastercoins is a huge benefit on the technical side.  Having that ability makes phrases
much less of a pipe dream, and more like your dream.

Yeah, I deleted the offending message. Any time you guys see a message that is off topic, feel free to let me know. This already IS a self-moderated thread