Mastercoin
-
[url=http://www.mastercoin.org/#features]http://www.mastercoin.org/#features[/url]
I was wondering if anyone more knowledgeable than myself could fill me in on Mastercoin.
I was having a read and it sounds similar to what we’re attempting or have talked about attempting, with Feathercoin.
Zero or Kevlar or any other devs / admins… What are your thoughts?
[i]edit[/i]
Thought I’d chuck this in too.
[url=https://github.com/mastercoin-MSC/spec]https://github.com/mastercoin-MSC/spec[/url]
[quote]Initial distribution of Mastercoins was essentially a kickstarter style period to provide funding to pay developers to write the software which fully implements the protocol. The distribution was very simple, and proceeded as follows:Anyone who sent bitcoins to the Exodus Address before August 31st, 2013 was recognized by the protocol as owning 100x that number of Mastercoins. For instance, if I sent 100 bitcoins to the Exodus Address before August 31st, my bitcoin address owns 10,000 Mastercoins after August 31st.
Early buyers got additional Mastercoins. In order to encourage adoption momentum, buyers got an additional 10% bonus Mastercoins if they made their purchase a week before the deadline, 20% extra if they purchased two weeks early, and so on, including partial weeks. Thus, if I sent 100 bitcoins to the exodus address 1.5 weeks before August 31st, the protocol recognized my bitcoin address as owning 11,500 Mastercoins (10000 + 15% bonus).
Attempts to send funds to the Exodus Address on or after September 1st 2013 (after block #255365) were not considered Mastercoin purchases, and were refunded to the sender.
[/quote] -
So far looks like very off-topic to me…is this new Ripple?
-
[quote name=“mirrax” post=“47624” timestamp=“1388047889”]
So far looks like very off-topic to me…is this new Ripple?
[/quote]Off-topic? It could be moved to the off-topic category if an admin would like to do so.
No, I [i]don’t think[/i] it’s like Ripple. Not sure…
It’s built onto the bitcoin blockchain but that’s about as far as I understand it… It’s also been sold for $170 a piece according to [url=http://coinmarketcap.com/]http://coinmarketcap.com/[/url]
It also uses a distributed order book [url=http://mastercoin-explorer.com/order_books]http://mastercoin-explorer.com/order_books[/url]
From what I understand, I just seems to be remarkably similar to some of the stuff Kevlar and Zerodrama have been talking about.
Or I could be totally wrong…
-
Mastercoin tries to do what we are doing. Our approach is cleaner and invites everyone to participate. Mastercoin is still infected with top-down producer consumer ideology. No thanks.
-
[quote name=“zerodrama” post=“47628” timestamp=“1388050393”]
Mastercoin tries to do what we are doing. Our approach is cleaner and invites everyone to participate. Mastercoin is still infected with top-down producer consumer ideology. No thanks.
[/quote]I thought so.
-
[quote name=“Calem” post=“47626” timestamp=“1388050028”]
It’s built onto the bitcoin blockchain but that’s about as far as I understand it… It’s also been sold for $170 a piece according to [url=http://coinmarketcap.com/]http://coinmarketcap.com/[/url]
[/quote]
The markets are being falsely and fraudulently manipulated.
-
[quote name=“hilariousandco” post=“47662” timestamp=“1388070437”]
[quote author=Calem link=topic=6387.msg47626#msg47626 date=1388050028]It’s built onto the bitcoin blockchain but that’s about as far as I understand it… It’s also been sold for $170 a piece according to [url=http://coinmarketcap.com/]http://coinmarketcap.com/[/url]
[/quote]
The markets are being falsely and fraudulently manipulated.
[/quote]They’re doing that by trying to force a value of 0.01 Mastercoin to 1 BTC. So dump a BTC, get a tinier value in MC.Hahaha no thanks.
-
[quote name=“Calem” post=“47623” timestamp=“1388047691”]
[url=http://www.mastercoin.org/#features]http://www.mastercoin.org/#features[/url]I was wondering if anyone more knowledgeable than myself could fill me in on Mastercoin.
I was having a read and it sounds similar to what we’re attempting or have talked about attempting, with Feathercoin.
Zero or Kevlar or any other devs / admins… What are your thoughts?
[i]edit[/i]
Thought I’d chuck this in too.
[url=https://github.com/mastercoin-MSC/spec]https://github.com/mastercoin-MSC/spec[/url]
[quote]Initial distribution of Mastercoins was essentially a kickstarter style period to provide funding to pay developers to write the software which fully implements the protocol. The distribution was very simple, and proceeded as follows:Anyone who sent bitcoins to the Exodus Address before August 31st, 2013 was recognized by the protocol as owning 100x that number of Mastercoins. For instance, if I sent 100 bitcoins to the Exodus Address before August 31st, my bitcoin address owns 10,000 Mastercoins after August 31st.
Early buyers got additional Mastercoins. In order to encourage adoption momentum, buyers got an additional 10% bonus Mastercoins if they made their purchase a week before the deadline, 20% extra if they purchased two weeks early, and so on, including partial weeks. Thus, if I sent 100 bitcoins to the exodus address 1.5 weeks before August 31st, the protocol recognized my bitcoin address as owning 11,500 Mastercoins (10000 + 15% bonus).
Attempts to send funds to the Exodus Address on or after September 1st 2013 (after block #255365) were not considered Mastercoin purchases, and were refunded to the sender.
[/quote]
[/quote]Master coin was the inspiration for the design of Link. I borrowed wholesale the idea of encoding a protocol into the blockchain using opcodes after my first draft clued me in to how much space a block based encoding scheme wastes.
Where Link and Mastercoin differ is that mastercoin is a protocol for recording a specific set of transactions which are endorced by the Mastercoin foundation on the premise that arbitrary protocols can be enforced though prescribed convention, while Link is a protocol for recording arbitrary data with no expectation of enforcing anything.
FLUX, as I have understood it, is Mastercoin for Link, but aims to eliminate centralization and prescribed convention in favor of distributed consensus and open standards.
The flaw (and key component which makes it all work) in the Mastercoin protocol is the exodus address. How FLUX will address this is still an unsolved problem, which is why I’m not writing code for it yet: I don’t yet know how to make it work.
Both these ideas remain good ideas, but until some fundamental issues are worked out, neither of them provide a complete solution to the stated problem they’re trying to solve. I remain hopeful for FLUX though, and will put my stamp of approval on it all and start writing code when I see the Ah-Ha moment. Mastercoin on the other hand is great design built on top of a terribly flawed premise from which I do not believe it can recover. That’s why I took all it’s good ideas (stream based encoding, layered blockchain protocol) and ditched its bad or unnecessary ones (exodus address, colored coins) to form a new protocol, Link. What ZD is proposing is to bring back those transactional messages, but do it without centralization and prescription. It’s a tall order though, and the solution is still being pondered. For now, Link remains the only fully tested and proven technology, but it lays the groundwork for a lot of other technologies to layer on top of it. ZD says he’s still thinking about it, so let’s see what he produces. So far the ideas have been good but an end to end solution remains elusive.
-
Just to clarify, is Link being applied to FTC or this a new protocol for another coin? Thanks
-
[quote name=“Horizon” post=“47703” timestamp=“1388091957”]
Just to clarify, is Link being applied to FTC or this a new protocol for another coin? Thanks
[/quote]Link is coin agnostic. It works with all crypto-currencies which use the Satoshi-style blockchain.
The website I’m still working on that beta testers are using uses the FTC blockchain, but in the near future, you’ll be able to choose which blockchain you want to publish on, and search accross blockchains seamlessly.
-
There is no exodus address in FLUX. FLUX tokens are rewards for failed hashes which have the same difficulty as a winning hash but are rotated. We might have an argument for any arrangement of 0s which has an equal number of 0s. But for now they are simply blah00000000blahblah where they needed to be 00000000blahblahblah.
Kevlar, since you like Quantum Mechanics, I’m going to use a metaphor for the pilot wave theory (even if it’s not true the concept is still useful).
Miners, upon finding exchange announcements, will trade their failed hash rewards which have a value related to the difficulty to produce. Once pathways for exchange have been stored, “real coins” can only be sent over those pathways. That gives us a verification scheme that is distributed, self-moderating (I’ll explain this soon), and very difficult to fake.
I’m considering some features where FLUX tokens can be upgraded to real coins but I imagine most coins will resist this and will simply prefer to put the FLUX tokens on a traditional exchange.
Another Quantum Mechanics metaphor (limited context): Communities are hadrons. Real coins are quarks. FLUX tokens are gluons.
We are going to cause mind quakes.
-
[quote name=“Kevlar” post=“47704” timestamp=“1388092237”]
The website I’m still working on that beta testers are using uses the FTC blockchain, but in the near future, you’ll be able to choose which blockchain you want to publish on, and search accross blockchains seamlessly.
[/quote]DogeLink, much doge, many link.
-
[quote name=“zerodrama” post=“47707” timestamp=“1388092866”]
We are going to cause mind quakes.
[/quote]In quantum physics the future effects the past. You’ve already caused those mind quakes ZeroDrama. ;)
-
[quote name=“Kevlar” post=“47704” timestamp=“1388092237”]
Link is coin agnostic. It works with all crypto-currencies which use the Satoshi-style blockchain.The website I’m still working on that beta testers are using uses the FTC blockchain, but in the near future, you’ll be able to choose which blockchain you want to publish on, and search accross blockchains seamlessly.
[/quote]Link sounds like a really cool technology of consolidation Kevlar, looking forward to it. So if I understand this right, there is currently an FTC ‘homepage block-chain’ equivalent before the user can search across any and all? Does this work the same way we are sent to Google’s homepage search engine first before having access to the ‘network’? And if not, would this be advantageous to have the user have to always first publish on FTC before moving on to the blockchain of their choosing? Also, is there a way to quantify traffic/analytics to a certain blockchain to FTC’s advantage?
-
[quote name=“Horizon” post=“47729” timestamp=“1388100465”]
[quote author=zerodrama link=topic=6387.msg47707#msg47707 date=1388092866]
We are going to cause mind quakes.
[/quote]In quantum physics the future effects the past. You’ve already caused those mind quakes ZeroDrama. ;)
[/quote]That’s… Not how retro causality works. But no worries. The future is still bright.
-
[quote name=“Horizon” post=“47730” timestamp=“1388100904”]
[quote author=Kevlar link=topic=6387.msg47704#msg47704 date=1388092237]
Link is coin agnostic. It works with all crypto-currencies which use the Satoshi-style blockchain.The website I’m still working on that beta testers are using uses the FTC blockchain, but in the near future, you’ll be able to choose which blockchain you want to publish on, and search accross blockchains seamlessly.
[/quote]Link sounds like a really cool technology of consolidation Kevlar, looking forward to it. So if I understand this right, there is currently an FTC ‘homepage block-chain’ equivalent before the user can search across any and all? Does this work the same way we are sent to Google’s homepage search engine first before having access to the ‘network’? And if not, would this be advantageous to have the user have to always first publish on FTC before moving on to the blockchain of their choosing? Also, is there a way to quantify traffic/analytics to a certain blockchain to FTC’s advantage?
[/quote]I’ve not decided on the user interface details for multiple blockchains. I figure search should be by default accords all block chains, with the option to check/uncheck coins. Publishing will likely just present the user with buttons for all available coins.
I’m not sure what you mean about the analytics.
-
[quote name=“Kevlar” post=“47731” timestamp=“1388101615”]
[quote author=Horizon link=topic=6387.msg47729#msg47729 date=1388100465]
[quote author=zerodrama link=topic=6387.msg47707#msg47707 date=1388092866]
We are going to cause mind quakes.
[/quote]In quantum physics the future effects the past. You’ve already caused those mind quakes ZeroDrama. ;)
[/quote]That’s… Not how retro causality works. But no worries. The future is still bright.
[/quote]I thought recent science is slowly proving this is how backward causality likely operates if you carried out enough repeat experiments to produce a meaningful pattern. Existence could be the ultimate blockchain Kevlar.
-
[quote name=“Horizon” post=“47740” timestamp=“1388103833”]
[quote author=Kevlar link=topic=6387.msg47731#msg47731 date=1388101615]
[quote author=Horizon link=topic=6387.msg47729#msg47729 date=1388100465]
[quote author=zerodrama link=topic=6387.msg47707#msg47707 date=1388092866]
We are going to cause mind quakes.
[/quote]In quantum physics the future effects the past. You’ve already caused those mind quakes ZeroDrama. ;)
[/quote]That’s… Not how retro causality works. But no worries. The future is still bright.
[/quote]I thought recent science is slowly proving this is how backward causality likely operates if you carried out enough repeat experiments to produce a meaningful pattern. Existence could be the ultimate blockchain Kevlar.
[/quote]While retro causality is one of those mind bending phenomena in quantum mechanics, no matter how hard you try, you can’t communicate retroactively. If the accepted equations of relativistic quantum field theory are correct, it should never be possible to experimentally violate causality using quantum effects.
But they keep trying anyway.
-
[quote name=“Kevlar” post=“47734” timestamp=“1388102340”]
[quote author=Horizon link=topic=6387.msg47730#msg47730 date=1388100904]
[quote author=Kevlar link=topic=6387.msg47704#msg47704 date=1388092237]
Link is coin agnostic. It works with all crypto-currencies which use the Satoshi-style blockchain.The website I’m still working on that beta testers are using uses the FTC blockchain, but in the near future, you’ll be able to choose which blockchain you want to publish on, and search accross blockchains seamlessly.
[/quote]Link sounds like a really cool technology of consolidation Kevlar, looking forward to it. So if I understand this right, there is currently an FTC ‘homepage block-chain’ equivalent before the user can search across any and all? Does this work the same way we are sent to Google’s homepage search engine first before having access to the ‘network’? And if not, would this be advantageous to have the user have to always first publish on FTC before moving on to the blockchain of their choosing? Also, is there a way to quantify traffic/analytics to a certain blockchain to FTC’s advantage?
[/quote]I’ve not decided on the user interface details for multiple blockchains. I figure search should be by default accords all block chains, with the option to check/uncheck coins. Publishing will likely just present the user with buttons for all available coins.
[b]I’m not sure what you mean about the analytics.[/b]
[/quote]I just was just wondering if Link has the ability to operate as a blockchain search engine if there’d be a feature akin to Google Analytics, tracking visitors and potentially making profit off pay-per-click equivalents, etc. I realize this is based off ad space but what if there was a way to create the same effect in encrypted terms - the ads in this case would be faux-addresses that led to the intended target?
-
[quote name=“Horizon” post=“47743” timestamp=“1388104426”]
[quote author=Kevlar link=topic=6387.msg47734#msg47734 date=1388102340]
[quote author=Horizon link=topic=6387.msg47730#msg47730 date=1388100904]
[quote author=Kevlar link=topic=6387.msg47704#msg47704 date=1388092237]
Link is coin agnostic. It works with all crypto-currencies which use the Satoshi-style blockchain.The website I’m still working on that beta testers are using uses the FTC blockchain, but in the near future, you’ll be able to choose which blockchain you want to publish on, and search accross blockchains seamlessly.
[/quote]Link sounds like a really cool technology of consolidation Kevlar, looking forward to it. So if I understand this right, there is currently an FTC ‘homepage block-chain’ equivalent before the user can search across any and all? Does this work the same way we are sent to Google’s homepage search engine first before having access to the ‘network’? And if not, would this be advantageous to have the user have to always first publish on FTC before moving on to the blockchain of their choosing? Also, is there a way to quantify traffic/analytics to a certain blockchain to FTC’s advantage?
[/quote]I’ve not decided on the user interface details for multiple blockchains. I figure search should be by default accords all block chains, with the option to check/uncheck coins. Publishing will likely just present the user with buttons for all available coins.
[b]I’m not sure what you mean about the analytics.[/b]
[/quote]I just was just wondering if Link has the ability to operate as a blockchain search engine if there’d be a feature akin to Google Analytics, tracking visitors and potentially making profit off pay-per-click equivalents, etc. I realize this is based off ad space but what if there was a way to create the same effect in encrypted terms - the ads in this case would be faux-addresses that led to the intended target?
[/quote]Link itself, the open source protocol, doesn’t cover that with its scope. But it’s entirely possible to do, and I suspect enterprising users who set up their own interface will do exactly that (hint hint).
