Quote from: professorhandsome on October 26, 2013, 04:41:48 PM

Quote from: HammerFist on October 26, 2013, 04:35:13 PM

Quote from: ASICSRUS on October 26, 2013, 04:03:10 PM

re:619,478 Mastercoins exist !- a fixed cap (no new Mastercoins will ever be created).

WOW this is awesome if its true! Cool

Not true. Not good and not true.

A system as big as Mastercoin is pretty hard to build well. It's going to take tons more money than we have in the bank today to perfect everything. There will be a 'B'-round of financing. Oh, I know JR doesn't want to - but it will be very good for everyone when it comes time to raise that second round and press on with development vigorously. This is going to take some serious coin.

Probably, everyone will be asked to kick in a percentage of their holding in new cash. Then, nobody gets diluted. If you decide not to up your investment - then you get pushed down with a dilution. This could be done without creating more coins. But, it will probably be easier to just issue some new coins. That is not a nightmare. It is good for everyone involved to bring in additional development funds. No big deal. Let bitcoin keep their weird idealisms regarding a deflationary currency. We can and should have an administration who can apply reason and method to fund the next stage.

If I am remembering correctly, there is a coin generation method designed into the protocol that makes 1 extra MSC for every 10 MSC created in the original funding. These "extra" mastercoins are released to the exodus address over a period of time and will be used for future funding. This is calculated into the unit total of 620kish MSC, I believe. I've seen this pop up a few times. J.R., could you confirm/clarify this and post the link to where it is explained?

Exactly 619478.59338440 MSC were created and no more will ever be created. That's not going to change, just as Bitcoin's 21 million is not going to change.

This total is broken down into 563,162.35762218 MSC held in user balances and 56,316.23576222 MSC created as reward Mastercoins. The Exodus address can spend these reward Mastercoins at a specific rate defined in the spec, though support for this is not yet included in the various dev implementations.

Quote from: markm on October 26, 2013, 03:32:44 PM

two: s/tread/thread/

-MarkM-

Fixed.

Thanks guys!