Topic: MasterCoin: New Protocol Layer Starting From “The Exodus Address” - page 59. (Read 448462 times)

How can I get my hands on a few of these Mastercoin? 

Ok. What is the private key needed for? Is it needed for sending out the Mastercoins from my Electrum wallet through Mastercoin Advisor?

Yes. As long as you have access to the private key it should work.

Yes. As long as you have access to the private key it should work.


It doesn't need to be but it would be good practice.

You can use the original Mastercoin advisor by J.R. to send coins. If you are on OS X or Linux you can try my wallet software. And soon you will be able to use Zathras's wallet on Windows.

This is only a risk if Bob sends his currency payment before his 'accept offer' transaction was confirmed as valid in the blockchain (which our respective software should never do).  Once the 'accept offer' is confirmed in the blockchain her coins are effectively reserved & Alice can only cancel her sell once the payment time limit has expired.

Could someone point us to information on how to receive / send Mastercoins at this point in time?

We would like to obtain MSC but with ambigous info on what kind of Bitcoin addresses can even receive them, cannot risk losing the precious BTC for using a wrong type of BTC wallet.

- can Mastercoins be received to an Electrum address with its private key known to the owner?

- does Mastercoin receiving address need to be brand new ie. never seen in the network?

I just had this idea of a timing attack against the distributed exchange.
I don't remember if this was discussed before (maybe in the spec? no time to re-read it now).

What do you think/

http://qr.ae/GsmxZ

Is there a risk of a race condition in the Mastercoin distributed exchange?

Can you help us by doing this yourself?

I will email our PR company directly and ask them whether they can help advertising our specific jobs / bounties and not just the project in general.

Alice posts a bid, which Bob attempts to match by sending her the required currency.

Alice can try to "listen in" to the network, detect Bob's send transaction, and withdraw her bid at the very last millisecond before Bob's transaction is finalized in a block. If she succeeds in this timing attack, Bob just sent Alice some coins, but Alice's bid is no longer active, and so her coins are sent back to her, instead of to Bob.

Is this a real risk? How can we mitigate it? Perhaps we can make sure any operation that cancels an outstanding bid only take affect if it is at least N seconds (or 1 block) ahead of an operation that attempts to match that bid?

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now.  

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now. 

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now. 

^ you need to open the program via "Command Prompt," navigate to the correct directory and then run the program by typing "MastercoinAdvisor.exe." I hope that helps.

I have code ready which can send MasterCoins. Here is what it looks like in action (ignore the first line which is from a previous run):



Source code is here: https://github.com/dacoinminster/MasterCoin-Adviser/blob/master/MasterCoinAdvisor.py
And here: https://github.com/dacoinminster/MasterCoin-Adviser/blob/master/base58_found.py

In order to use this source code, you will need to install python 2.7 and also pycrypto for python 2.7, which I got here: http://www.voidspace.org.uk/python/modules.shtml#pycrypto

On one PC I had to mess with my PATH environment variable to find python and the pycrypto libraries, but when I tried it again on a different PC, I didn't have to mess with the PATH variable at all. Your mileage may vary.

If you wish to avoid compiling, and you are a trusting sort of person, you can use the executable I made using py2exe: https://github.com/dacoinminster/MasterCoin-Adviser/raw/master/MasterCoinAdvisorExecutable.zip - I think the executable will only work if you have the right version of Microsoft's C Runtime DLL: http://www.microsoft.com/downloads/en/details.aspx?FamilyID=9b2da534-3e03-4391-8a4d-074b9f2bc1bf&displaylang=en

Those of you who are affected by the Android wallet security problem should try this out right away. Let me know if you see anything weird.

Please note that I still have some testing to do of this code - I just wanted to make sure you guys got hold of this functionality as soon as possible! If something isn't right in this code, I'll try to make sure that nothing you do gets lost. Still, sending MasterCoins from one address to another to another to another might not be a good idea yet!

There are some debug outputs commented out in the code right now, but you might want to turn them back on if you are playing with this code.

This code does NOT parse the block chain to see if you actually have MasterCoins to send, or track MasterCoins which have been sent. That is the next milestone after the giveaway thread.

97% of my MSC are now split between 10 offline cold-storage wallets which are in a safe deposit box at the bank, where I expect to keep them for a long, long time.

I'll sleep so much better at night now. 

I just had an interesting idea for Mastercoin Gateways.

You might be familiar with the concept of Ripple Gateways.
The primary function of a Ripple Gateway is accepting Fiat from customers, and "converting" it to "Fiat IOUs" which are then sent to clients.
You can come into this Gateway, wire it USD, and get USD IOUs in return.

Well, we can easily translate that idea into trust-less Mastercoin Gateways.

A Mastercoin Gateway would be a business or entity that accepts fiat and sends back the same fiat in the form of a CFD or backed currency.
I call it "trust-less" because once the deal is finished, you no longer need to have any trust or relation with the Gateweay, unlike Ripple Gateways which require the Gateway to keep functioning because it owes you money.

Real world Mastercoin exchanges could double as Gateways - regulation for these might vary, or might be the same, per state and regulatory environment.