Quote from: dacoinminster on July 31, 2013, 08:40:33 PM

Quote from: adamstgBit on July 31, 2013, 08:31:11 PM

is there a windows client i can download?

i am eager to generate myself 100oz of non existent GOLD and sell it on this crazy system! Tongue

Heh. Even once the protocol is fully implemented, you won't be able to do that. Funds used to purchase a new currency go into an escrow fund which is used to maintain the target value of that currency.

Okay, I can see that your serious.

The "gold" is those early adopters who fund the project (become early share holders in the virtue company).

Did I get that right?

---

Here are two very real questions:

PREFACE: The United States has accumulated over $70 trillion in unreported debt, an amount nearly six times the declared figure, according to a new study by University of California-San Diego economics Professor James Hamilton.

Here is question #1: What will prevent Master-Coin from being revalued?

One day we might read a headline like this:
"Master-Coin ownership just jumped from its starting value of 1 trillion to 70 trillion overnight."

And as we read into the story find this:
"Today 69 new bitcoins that funded MasterCion prior to it's official launch were discovered thus undermining the value of the original investors thought they held."

Here is question #2: What will insure Master-Coin is revalued upward?

Reasonable speaking, what kind of return does an early adopter have to gain?
(... and how might you better insure against any loses with some other alternative ALT.COIN?)

/unSpy

p.s. One more thought, it would seems to me that LiteCoin or FeatherCoin could sell themselves as insurance against a counter-party should bitcoin fail in some way. That if were to happen, your Master-Coin protocol could sit atop their blockchain just as well, or could be switch over to that blockchain should thee need arise. This begs the question, couldn't a future ALT.COIN creator ensure the value of his new virtual currency by linking isn't value to Master-Coin even it his new virtual currency deviated from the Bitcoin standard? If so, how would this be done? What unintended consequences might result?