Proposal to Fork Mastercoin and Burn a portion of JR's immense stash. - page 3.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: JohnnyBTCSeed on December 01, 2014, 02:30:54 AM

CIYAM.org

Atomic Cross-Chain Transfer
-------------------------------------

An AT that enables an atomic cross-chain transfer to be executed by creating two separate instances of itself
on two seperate blockchains

I think it's a great idea, but I just can't wrap my head around how it works. :-)

JohnnyBTCSeed

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CIYAM.org

Atomic Cross-Chain Transfer
-------------------------------------

An AT that enables an atomic cross-chain transfer to be executed by creating two separate instances of itself
on two seperate blockchains

dexX7

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Quote

Here's another question then- if something like maidsafe choose not to move over to counterparty, could we still use Vennd to port the tokens over to Counterparty so we could more easily buy/sell/whatever with them on counterparty, and then 'cashout' to move them back to mastercoin?

A gateway that allows to move between both protocols? This is interesting. Politics aside, like erasing JR's stash, I'm more interested in the technical side of things.

Because there is no fixed conversion rate of MSC/XCP and XCP/MSC, proxy tokens on each side would have to be created.

So how are tokens transfered between both protocols? I guess the easy way is to use a third party (e.g. Vennd) that has knowledge about both sides and acts as mediator, but I'm wondering, if there is an alternative without a centralized, single point of failure.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: led_lcd on November 30, 2014, 05:24:14 PM

Quote from: hmmmstrange on November 30, 2014, 04:47:30 PM

Quote

Hi, this is Jeremy from Vennd. I'll stay out of the political talk and let you guys make the decisions that you need to make.

If there are any asset issuers out there who would like to move over to Counterparty, I'd be happy to assist (for free). There are a few ways in which a migration of assets from MSC could work. We could set up a vending machine which detects a burn of a MSC asset - a send to a provably unspendable address and then send the Counterparty equivalent to the burner. This is an opt-in burn. This burn period could be run for a while to allow people to withdraw funds from exchanges, etc.

Is there any reason why the burn period would have to be of limited time?

Technically, there is no reason. It's just impractical to keep it going forever.

Scotcoin moved from their own blockchain to Counterparty in a similar burn. They decided on a similar mechanism to remove inactive holders of their coin. Note: They didn't use Vennd.

edit: 'supporters' to 'holders'

I just checked out Vennd and I'm pretty impressed, very cool! Here's another question then- if something like maidsafe choose not to move over to counterparty, could we still use Vennd to port the tokens over to Counterparty so we could more easily buy/sell/whatever with them on counterparty, and then 'cashout' to move them back to mastercoin? It might be a nice way to 'introduce' token issuers to the idea of moving to counterparty.

led_lcd

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Quote from: hmmmstrange on November 30, 2014, 04:47:30 PM

Quote

Hi, this is Jeremy from Vennd. I'll stay out of the political talk and let you guys make the decisions that you need to make.

If there are any asset issuers out there who would like to move over to Counterparty, I'd be happy to assist (for free). There are a few ways in which a migration of assets from MSC could work. We could set up a vending machine which detects a burn of a MSC asset - a send to a provably unspendable address and then send the Counterparty equivalent to the burner. This is an opt-in burn. This burn period could be run for a while to allow people to withdraw funds from exchanges, etc.

Is there any reason why the burn period would have to be of limited time?

Technically, there is no reason. It's just impractical to keep it going forever.

Scotcoin moved from their own blockchain to Counterparty in a similar burn. They decided on a similar mechanism to remove inactive holders of their coin. Note: They didn't use Vennd.

edit: 'supporters' to 'holders'

hmmmstrange

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I just want to point out that it's been 5 days with zero activity on github.

hmmmstrange

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Quote

Hi, this is Jeremy from Vennd. I'll stay out of the political talk and let you guys make the decisions that you need to make.

If there are any asset issuers out there who would like to move over to Counterparty, I'd be happy to assist (for free). There are a few ways in which a migration of assets from MSC could work. We could set up a vending machine which detects a burn of a MSC asset - a send to a provably unspendable address and then send the Counterparty equivalent to the burner. This is an opt-in burn. This burn period could be run for a while to allow people to withdraw funds from exchanges, etc.

Is there any reason why the burn period would have to be of limited time?

JohnnyBTCSeed

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@ JR and Mr. Johnston

You guys would be wise to make a public appearance before this mastercoup (tm) goes any farther.

NOW is your chance to rebrand. I hope you make your first act to deal with the whale issue.

led_lcd

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Quote from: crazy_rabbit on November 30, 2014, 04:04:02 PM

Quote from: mishax1 on November 30, 2014, 03:29:05 PM

Quote from: PhantomPhreak on November 30, 2014, 02:29:30 PM

Quote from: crazy_rabbit on November 30, 2014, 01:08:17 PM

Quote

3. We burn to a counterparty clone.

It would be interesting to know if Counterparty would have us. They added the Ethereum code, why not mastercoin?

There isn't any Mastercoin code/features that could be useful to Counterparty.

You just shot msc holders in the knee. Cheesy

I don't think that's what crazy_rabbit meant when he said "Do you think you could contribute over in the thread?" Grin

(although, I have to admit, this was a great contribution to where this thread is going...)

Well if it's true, it's true. We might as well know it out loud. It certianly makes me think harder about the porting our tokens over to Counterparty idea.

Hi, this is Jeremy from Vennd. I'll stay out of the political talk and let you guys make the decisions that you need to make.

If there are any asset issuers out there who would like to move over to Counterparty, I'd be happy to assist (for free). There are a few ways in which a migration of assets from MSC could work. We could set up a vending machine which detects a burn of a MSC asset - a send to a provably unspendable address and then send the Counterparty equivalent to the burner. This is an opt-in burn. This burn period could be run for a while to allow people to withdraw funds from exchanges, etc.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: mishax1 on November 30, 2014, 03:29:05 PM

Quote from: PhantomPhreak on November 30, 2014, 02:29:30 PM

Quote from: crazy_rabbit on November 30, 2014, 01:08:17 PM

Quote

3. We burn to a counterparty clone.

It would be interesting to know if Counterparty would have us. They added the Ethereum code, why not mastercoin?

There isn't any Mastercoin code/features that could be useful to Counterparty.

You just shot msc holders in the knee. Cheesy

I don't think that's what crazy_rabbit meant when he said "Do you think you could contribute over in the thread?" Grin

(although, I have to admit, this was a great contribution to where this thread is going...)

Well if it's true, it's true. We might as well know it out loud. It certianly makes me think harder about the porting our tokens over to Counterparty idea.

hmmmstrange

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As to forking and deleting JR's remaining coins:
(these numbers are rough)

He purchased 140,000 coins, of which 40k were bonus coins. After he stated he would not invest at the beginning to not take a large bonus. So I make the conclusion he should have only 100k.

He has sold 35k coins. So he should have 65k left.

Any fork, at the very least, should delete the equivalent of his bonus coins.

mishax1

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Quote from: PhantomPhreak on November 30, 2014, 02:29:30 PM

Quote from: crazy_rabbit on November 30, 2014, 01:08:17 PM

Quote

3. We burn to a counterparty clone.

It would be interesting to know if Counterparty would have us. They added the Ethereum code, why not mastercoin?

There isn't any Mastercoin code/features that could be useful to Counterparty.

You just shot msc holders in the knee. Cheesy

I don't think that's what crazy_rabbit meant when he said "Do you think you could contribute over in the thread?" Grin

(although, I have to admit, this was a great contribution to where this thread is going...)

hmmmstrange

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Quote from: crazy_rabbit on November 30, 2014, 02:56:21 PM

Quote from: hmmmstrange on November 30, 2014, 02:48:17 PM

It would be very beneficial to the mastercoin community, if a board member would spill the beans on the real status of the foundation. I suspect that things are a lot worse than anyone could imagine.

Are there still board members?

If there is a foundation, there are board members.

Dissolving the "non profit" foundation is going to be a pain in the ass, particularity with the issue of the exodus private key. You can't just transfer the asset to a private entity, it has to be transferred to another non profit, from my understanding. The exodus key has future value due to the dev msc it controls and the dust it collects on each transaction. To compensate an individual with the exodus private key would be asking for a lawsuit.

They could always make the exodus key public.

edit: I'm pretty sure JR is the only one holding the private key. This almost guarantees the end of the exodus address as no new foundation would have JR on the board. A new foundation sharing the private key with JR is not going to happen. I'm convinced a fork is going to happen no matter what. It's just a question of who's fork is going to win.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: hmmmstrange on November 30, 2014, 02:48:17 PM

It would be very beneficial to the mastercoin community, if a board member would spill the beans on the real status of the foundation. I suspect that things are a lot worse than anyone could imagine.

Are there still board members?

hmmmstrange

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It would be very beneficial to the mastercoin community, if a board member would spill the beans on the real status of the foundation. I suspect that things are a lot worse than anyone could imagine.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: Cablez on November 30, 2014, 02:30:49 PM

Quote from: crazy_rabbit on November 30, 2014, 01:34:56 PM

That's probably true, they probably won't want to be involved with us, because- why would they? The only thing we have to offer is Maidsafe, which could be quite convincing for them. Of course if it was as easy as porting MaidSafe tokens as a counterpary asset they might just convince Maidsafe to port to Counterparty and leave Mastercoin in the dust.

This is how I see it going. Why would CP need anything from Master, what does Master bring?...nothing. I hate to admit it but the resuscitation of master will require much skill and funding and even then its not a guarantee.

Cloning Master onto CP may be interesting though.....

In which case- i

Quote from: PhantomPhreak on November 30, 2014, 02:29:30 PM

Quote from: crazy_rabbit on November 30, 2014, 01:08:17 PM

Quote

3. We burn to a counterparty clone.

It would be interesting to know if Counterparty would have us. They added the Ethereum code, why not mastercoin?

There isn't any Mastercoin code/features that could be useful to Counterparty.

Well I guess that's our answer about that then. I think porting to Counterparty could be very interesting, although I'm more interested in porting our tokens from things like Maidsafe over to counterparty. It would be terrible to let the failures of Mastercoin impact projects like Maidsafe.

Cablez

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I owe my soul to the Bitcoin code...

Quote from: crazy_rabbit on November 30, 2014, 01:34:56 PM

That's probably true, they probably won't want to be involved with us, because- why would they? The only thing we have to offer is Maidsafe, which could be quite convincing for them. Of course if it was as easy as porting MaidSafe tokens as a counterpary asset they might just convince Maidsafe to port to Counterparty and leave Mastercoin in the dust.

This is how I see it going. Why would CP need anything from Master, what does Master bring?...nothing. I hate to admit it but the resuscitation of master will require much skill and funding and even then its not a guarantee.

Cloning Master onto CP may be interesting though.....

PhantomPhreak

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Counterparty Chief Scientist and Co-Founder

Quote from: crazy_rabbit on November 30, 2014, 01:08:17 PM

Quote

3. We burn to a counterparty clone.

It would be interesting to know if Counterparty would have us. They added the Ethereum code, why not mastercoin?

There isn't any Mastercoin code/features that could be useful to Counterparty.

crazy_rabbit

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RUM AND CARROTS: A PIRATE LIFE FOR ME

Quote from: JohnnyBTCSeed on November 30, 2014, 01:22:05 PM

By this I mean, we make a copy of counterparty and call it something else and burn to this. As I doubt counterparty wants us muddling their party.

That's probably true, they probably won't want to be involved with us, because- why would they? The only thing we have to offer is Maidsafe, which could be quite convincing for them. Of course if it was as easy as porting MaidSafe tokens as a counterpary asset they might just convince Maidsafe to port to Counterparty and leave Mastercoin in the dust.

It's an interesting idea to maybe just clone Counterparty, but then of course all we have done is clone an already working project....

JohnnyBTCSeed

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By this I mean, we make a copy of counterparty and call it something else and burn to this. As I doubt counterparty wants us muddling their party.

Quote

3. We burn to a counterparty clone.

It would be interesting to know if Counterparty would have us. They added the Ethereum code, why not mastercoin?

Topic: Proposal to Fork Mastercoin and Burn a portion of JR's immense stash. - page 3. (Read 9965 times)