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Topic: MasterCoin: New Protocol Layer Starting From “The Exodus Address” - page 40. (Read 448462 times)

legendary
Activity: 1321
Merit: 1007
legendary
Activity: 1666
Merit: 1010
he who has the gold makes the rules

thanks for posting this, i was wondering how long bitcointalk would be down for

the post has a lot of info in it, but if i missed something (esp due to this forum being down) let me know
hero member
Activity: 714
Merit: 510
Regarding hiring without consulting the community, there is a reason that companies hire a CEO to make all the decisions, rather than having all stakeholders weigh in on every hire. We are giving Ron room as Executive Director to do his job, and even if he makes mistakes on the way (and he undoubtedly will) I vastly prefer that to decision-by-committee.

Ron and David both told me two days ago that their goal is to dissolve the foundation and have *all* decisions determined by proof-of-stake voting. They are trying to put the governance of the protocol into the protocol itself.

Proof-of-stake voting will almost certainly not ask every person to weigh in on every decision (that would be horribly inefficient). Instead, we'll elect someone to be in charge of a block of money for a block of time. At the end of that time, we'll elect someone else (or the same person, if we like how they ran things) for the next block of money and block of time. The size of the blocks of money and blocks of time will also be decided by proof-of-stake voting.

For instance, we might vote to give Ron authorization to spend 5% of the project funds over the following three months. If Ron does a terrible job, we might elect somebody else after that. If we like how Ron spent the money, we might elect him again.
Couldn't we use multisig transactions for this?
member
Activity: 205
Merit: 10
member
Activity: 205
Merit: 10
At Bitcoin conference, two 'gurus' draw a crowd

http://www.usatoday.com/story/tech/2013/12/11/the-bitcoin-world-has-its-own-brand-of-gurus/3987573/

Mastercoin Foundation, Bitshares and ColoredCoins Form Self-Regulatory Organization to Ensure Continued Free Operation of New Bitcoin Applications and Protocols

http://sg.finance.yahoo.com/news/mastercoin-foundation-bitshares-coloredcoins-form-160000194.html
member
Activity: 61
Merit: 10
the faucet works great!

I tried it out yesterday and the process was easy to use and understand.
legendary
Activity: 882
Merit: 1000
How many MCs were given for every BTC donated to the Exodus address?
100
One more question... how do I get a MC wallet, or do I need one?
MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.
OK. I sent my MCs to a bitcoin address but it just says that they are bitcoins. How is anyone supposed to tell the difference between MC and bitcoins if they aren't distinguished?
You can check your MSC balance with http://mymastercoins.com/,   http://mastercoin-explorer.com/, and http://masterchest.info

To a normal BTC client, what you received are just a very small amount of BTC, but according to the MSC protocol, you received certain amount of MSC and the amount was encoded in the blockchain and has nothing to do with the amount of BTC you received. That small number of BTC is just there to satisfy the anti-dust requirement.
OK, I think I get it. The MCs are basically piggy-backed on that negligible amount of BTC to my address and the BC...
If you look at the transaction detail, you will find it is a send-to-many transactions. One transaction to The Exodus Address to indicate it's a MSC transaction, one transaction to your address to indicate the recipient, and a transaction to another address and that address is made up to include the amount and other informations.
sr. member
Activity: 378
Merit: 250
How many MCs were given for every BTC donated to the Exodus address?
100
One more question... how do I get a MC wallet, or do I need one?
MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.
OK. I sent my MCs to a bitcoin address but it just says that they are bitcoins. How is anyone supposed to tell the difference between MC and bitcoins if they aren't distinguished?
You can check your MSC balance with http://mymastercoins.com/,   http://mastercoin-explorer.com/, and http://masterchest.info

To a normal BTC client, what you received are just a very small amount of BTC, but according to the MSC protocol, you received certain amount of MSC and the amount was encoded in the blockchain and has nothing to do with the amount of BTC you received. That small number of BTC is just there to satisfy the anti-dust requirement.
OK, I think I get it. The MCs are basically piggy-backed on that negligible amount of BTC to my address and the BC...
legendary
Activity: 882
Merit: 1000
How many MCs were given for every BTC donated to the Exodus address?
100
One more question... how do I get a MC wallet, or do I need one?
MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.
OK. I sent my MCs to a bitcoin address but it just says that they are bitcoins. How is anyone supposed to tell the difference between MC and bitcoins if they aren't distinguished?
You can check your MSC balance with http://mymastercoins.com/,   http://mastercoin-explorer.com/, and http://masterchest.info

To a normal BTC client, what you received are just a very small amount of BTC, but according to the MSC protocol, you received certain amount of MSC and the amount was encoded in the blockchain and has nothing to do with the amount of BTC you received. That small number of BTC is just there to satisfy the anti-dust requirement.
sr. member
Activity: 378
Merit: 250
How many MCs were given for every BTC donated to the Exodus address?
100
One more question... how do I get a MC wallet, or do I need one?
MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.
OK. I sent my MCs to a bitcoin address but it just says that they are bitcoins. How is anyone supposed to tell the difference between MC and bitcoins if they aren't distinguished?
legendary
Activity: 882
Merit: 1000
How many MCs were given for every BTC donated to the Exodus address?
100
One more question... how do I get a MC wallet, or do I need one?
MC wallet is just a bitcoin wallet completely controlled by yourself (not something like the address in the exchange), but it's better to use a client you can specify the sending address.

For example, if you have address A, B, and C in a wallet and A address have some MSC in it. When you want to send someone MSC, you have to send a small amount of BTC from A, and not all clients allow you to specify A as the sending address.
sr. member
Activity: 378
Merit: 250
How many MCs were given for every BTC donated to the Exodus address?
100
One more question... how do I get a MC wallet, or do I need one?
legendary
Activity: 882
Merit: 1000
How many MCs were given for every BTC donated to the Exodus address?
100
sr. member
Activity: 378
Merit: 250
How many MCs were given for every BTC donated to the Exodus address?
legendary
Activity: 1666
Merit: 1010
he who has the gold makes the rules
The Mastercoin Faucet is now live and there is a bunch of Mastercoin to give out.

Go here and follow the instructions:

http://mastercoin-faucet.com/

Or if you are feeling generous to help your fellow, you may also insert this code into your signature:

Code:
[size=14pt][url=http://mastercoin-faucet.com/][glow=purple,12][color=yellow]Mastercoin Faucet - Give Away [/color][/glow] [/url][/size]

Big UP to dexX7 for completing the bounty

help upvote this if you are on reddit

http://www.reddit.com/r/Bitcoin/comments/1sll2o/use_your_reddit_karma_points_and_bitcoin_address/
sr. member
Activity: 266
Merit: 250
Mastercoin-explorer is lagging behind because of a piece of recursive validation code I added. I think I must have a loop somewhere because I found the code eating up 7GB of ram and still validating transactions this morning. Looking into it now Smiley  
How is that for timing?  Hehe.  Masterchest.info scanning engine is offline, should have it back up in a couple of hours.

Thanks! Smiley

EDIT:  All back online & up to date now, apologies for the delay in displaying new transactions.
legendary
Activity: 1260
Merit: 1031
Rational Exuberance
Notice of proposed expenditure ($900 worth of BTC to yuval):

Quote
On Sun, Dec 8, 2013 at 10:37 PM, yuval wrote:

    Payment address:
    19stRngXs2m1LZf48ievFTEyrUwSjwqGKf

    I understand. Smiley Keep up the fantastic work guys.

Quote
    On Mon, Dec 9, 2013 at 6:22 AM, Ron  wrote:

        J.R - Yuval did about 30 hours of work for us, on various tasks including website design, business cards, blog templates changes, conference calls etc.
        Yuval - please send J.R a payment address for receiving $900 (in BTC).
        J.R - please include Yuval in the next payment batch.

All project expenditures are publicly tracked here: https://docs.google.com/spreadsheet/ccc?key=0AtCyUJvk_IyNdGpVcnpBN2tOczFmbVRnck5TWjZuRFE&usp=sharing#gid=0
legendary
Activity: 1498
Merit: 1000
By the way, is there any further word on the 'share buyback' proposal?  If it has been cancelled, I'd like to adopt one position.  If it is forthcoming, I'd like to adopt another position.  If it is still being debated, I'd like to adopt another.  Part of 'full disclosure' is mentioning the state of this proposal.  Can we have a word on this please?

It is on hold for now. I still want to do it though. We'll probably be debating it for a long time, but I'll wear the opposition down eventually Smiley
I have my catapult ready to bring down their walls!
legendary
Activity: 1260
Merit: 1031
Rational Exuberance
By the way, is there any further word on the 'share buyback' proposal?  If it has been cancelled, I'd like to adopt one position.  If it is forthcoming, I'd like to adopt another position.  If it is still being debated, I'd like to adopt another.  Part of 'full disclosure' is mentioning the state of this proposal.  Can we have a word on this please?

It is on hold for now. I still want to do it though. We'll probably be debating it for a long time, but I'll wear the opposition down eventually Smiley
sr. member
Activity: 449
Merit: 250
Recently, a user did the following MSC tx:

Qty: 30 MSC   
MSC Receiving: 1Mp1Wy6g5F8STm67LvvmGNTJpSdhuTufL2
MSC sending: 1K7ebt2PamR7Q7qD75v7HMj5EmSPWrmcLQ

Bitcoin tx:
https://blockchain.info/tx/80a087558fa95e105dcde0935c1994906d2a1b16e34ca70aecf12e3c04d10c70

Result:

The transaction showed up in MyMastercoin.com
http://mymastercoins.com/default.aspx?XID=4713 with a tx id of
80a087558fa95e105dcde0935c1994906d2a1b16e34ca70aecf12e3c04d10c70
but both Mastercoin-explorer.com and Masterchest.info could not find this transaction id.
Transaction is valid.
http://mymastercoins.com/default.aspx?addr=1Mp1Wy6g5F8STm67LvvmGNTJpSdhuTufL2
http://mymastercoins.com/default.aspx?addr=1K7ebt2PamR7Q7qD75v7HMj5EmSPWrmcLQ
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