Quote from: bpd on August 31, 2013, 03:03:03 AM

Quote from: retep on August 31, 2013, 01:33:31 AM

Quote from: dacoinminster on August 30, 2013, 10:27:45 PM

Being a good block-chain citizen is a matter of survival for MasterCoin. If we don't, we'll face competition from a clone that says "We're like MasterCoin, but with less impact on the blockchain"

With any luck you'll face competition from clones that realize the entire idea is just dumb. (...)

Frankly the only clever thing you've done is you've taken the same colored coins/side-chains ideas everyone else has and found a way to get Bitcoin users to shovel money at you for it. Too bad really - I guess the rest of us couldn't imagine how you didn't even need to write any code to separate $300k worth of Bitcoins from the idiots who used to own them. (We forgot about The Pirate already!) Hopefully that's not actually true, and it's actually your own money and not many people are getting scammed here.

Anyway, I have better things to do than waste my time talking about ideas sufficiently stupid to be indistinguishable from scams for free, so don't bother replying unless you've got a paying contract. (1.5BTC/hr, escrow required for you)

I will say though, you're so close to doing something useful for me: showing the world how little protection we actually have against the UTXO set being bloated other than the blocksize limit. Do me a favor and keep your stupid protocol just the way it is.

Thanks for saying what many are thinking. Even if it isn't a scam, the system simply can't work. It shows complete lack of understanding about how markets and asset pricing actually work. Gold assets not backed by gold, but by MasterCoins (which will clearly appreciate faster than dumb old gold)... It's so obvious... Why didn't the people who started GLD think of that? They'd be so much richer!

I hear you. I have read the specs for this ponzi coin and it just does not add up. People who sent their BTC to the Exodus ~~node~~ address will not see those BTCs ever again (perfect name BTW) - this meta-coin is parasitic and scammy.

As a full blockchain node operator I really want to see some kind of solution to the blockchain bloat problem, preferably with some fees so I can turn this into a business rather than a non-profit. Miners verify transactions and get compensation for it, but nobody pays for the transaction's storage once it gets verified and this will eventually shrink full-nodes numbers and further strengthen the oligopoly of Bitcoin miners.