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Topic: Questions related to MasterCoin thread (Read 411 times)
Unfortunately, I can only write here in the newbies section. These questions should be addressed to dacoinminister in this thread:
https://bitcointalksearch.org/topic/mastercoin-new-protocol-layer-starting-from-the-exodus-address-265488
I have a few fundamental questions that might not have been addressed in the thread or in the white paper clearly enough, or you should prove me otherwise.
1.) If a user generates a new currency, let's call it new_coin, what is the total number of new_coins?
2.) Who owns them initially? Is it the user who invented the currency or is it the escrow fund?
3.) What real-life 'objects' can be made a new currency out of? 1oz of gold is obvious. But, can I make a currency out of a company share (company XYZ), called XYZ_coin, or can I make a currency being worth one gnome in my own garden, called MyGnome_coin? What are the rules?
I think these are crucial things to be clarified, thanks!
https://bitcointalksearch.org/topic/mastercoin-new-protocol-layer-starting-from-the-exodus-address-265488
I have a few fundamental questions that might not have been addressed in the thread or in the white paper clearly enough, or you should prove me otherwise.
1.) If a user generates a new currency, let's call it new_coin, what is the total number of new_coins?
2.) Who owns them initially? Is it the user who invented the currency or is it the escrow fund?
3.) What real-life 'objects' can be made a new currency out of? 1oz of gold is obvious. But, can I make a currency out of a company share (company XYZ), called XYZ_coin, or can I make a currency being worth one gnome in my own garden, called MyGnome_coin? What are the rules?
I think these are crucial things to be clarified, thanks!
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