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Showing 20 of 37 results by mughat
you'd have to convince the benevolent holders of MSC to vote somehow or else it'd be a bother and participation would drop off
perhaps have a quorum function as well
The voters would all hold mastercoins and therefore have an incentive to vote to addjust the fees in the overall interest of the mastercoin network to keep all the services competitive,spam free and profitable (create demand for mastercoins). Only rational self interest is required from the voters.
You say that after 5, 10, 20 years having to vote every x interval of time. Too long, you forget about it. Too short and you get sick of it.
Point is that you dont have to vote. Only if you want change. fees stay the same if no votes are cast. lazy smart users could create an auto vote wallet.
The good thing about this system is that we only get the people for whom it actually matters voting consistently. people who don't care don't vote.
Implementation outline suggestion for mastercoin fee-voting system
Each mastercoin service have one or more unique addresses that sets/defines the initial fee(s) and where fee-addjustment-votes are cast to. The initial fee of a mastercoin-service is the amount of MSC in that particular address to begin with.
People who want to vote transfers one willet (0.00000001 MSC) to the addresse with a message up or down. The system then looks at the amount of MSC each of the sending addresses have and adds up the voting power. X MSC = X votes. Addresses with less then 1 whole MSC has no voting power.
If 100% of the votes are up. The fee is doubled.
If 100% of the votes are down. The fee is halved.
anything in between is adjusted according to the ratio of up and down voting power.
Every vote cast are alive untill the next fee adjustment milestone. You can cast your vote at any time (or change it). The system then looks at the number of living votes at any given voting milestone to calculate the minimum fee required to use that particular service. based on the previous calculated fee size and the voting ratio. The new fees are calculated each week (or month).
Please let me know what you think.
mughat
Each mastercoin service have one or more unique addresses that sets/defines the initial fee(s) and where fee-addjustment-votes are cast to. The initial fee of a mastercoin-service is the amount of MSC in that particular address to begin with.
People who want to vote transfers one willet (0.00000001 MSC) to the addresse with a message up or down. The system then looks at the amount of MSC each of the sending addresses have and adds up the voting power. X MSC = X votes. Addresses with less then 1 whole MSC has no voting power.
If 100% of the votes are up. The fee is doubled.
If 100% of the votes are down. The fee is halved.
anything in between is adjusted according to the ratio of up and down voting power.
Every vote cast are alive untill the next fee adjustment milestone. You can cast your vote at any time (or change it). The system then looks at the number of living votes at any given voting milestone to calculate the minimum fee required to use that particular service. based on the previous calculated fee size and the voting ratio. The new fees are calculated each week (or month).
Please let me know what you think.
mughat
you'd have to convince the benevolent holders of MSC to vote somehow or else it'd be a bother and participation would drop off
perhaps have a quorum function as well
The voters would all hold mastercoins and therefore have an incentive to vote to addjust the fees in the overall interest of the mastercoin network to keep all the services competitive,spam free and profitable (create demand for mastercoins). Only rational self interest is required from the voters.
Implementation outline suggestion for mastercoin fee-voting system
Each mastercoin service have one or more unique addresses that sets/defines the initial fee(s) and where fee-addjustment-votes are cast to. The initial fee of a mastercoin-service is the amount of MSC in that particular address to begin with.
People who want to vote transfers one willet (0.00000001 MSC) to the addresse with a message up or down. The system then looks at the amount of MSC each of the sending addresses have and adds up the voting power. X MSC = X votes. Addresses with less then 1 whole MSC has no voting power.
If 100% of the votes are up. The fee is doubled.
If 100% of the votes are down. The fee is halved.
anything in between is adjusted according to the ratio of up and down voting power.
Every vote cast are alive untill the next fee adjustment milestone. You can cast your vote at any time (or change it). The system then looks at the number of living votes at any given voting milestone to calculate the minimum fee required to use that particular service. based on the previous calculated fee size and the voting ratio. The new fees are calculated each week (or month).
Please let me know what you think.
mughat
Each mastercoin service have one or more unique addresses that sets/defines the initial fee(s) and where fee-addjustment-votes are cast to. The initial fee of a mastercoin-service is the amount of MSC in that particular address to begin with.
People who want to vote transfers one willet (0.00000001 MSC) to the addresse with a message up or down. The system then looks at the amount of MSC each of the sending addresses have and adds up the voting power. X MSC = X votes. Addresses with less then 1 whole MSC has no voting power.
If 100% of the votes are up. The fee is doubled.
If 100% of the votes are down. The fee is halved.
anything in between is adjusted according to the ratio of up and down voting power.
Every vote cast are alive untill the next fee adjustment milestone. You can cast your vote at any time (or change it). The system then looks at the number of living votes at any given voting milestone to calculate the minimum fee required to use that particular service. based on the previous calculated fee size and the voting ratio. The new fees are calculated each week (or month).
Please let me know what you think.
mughat
Idea: automatic mastercoin fee-voting system
Mastercoin holders set individual service fee-sizes by a voting system integrated with the mastercoin protocol.
All individual fees on mastercoin services and %fees should be set/addjusted by mastercoin owners on a regular basis (once a week or so). people vote with their mastercoins what fees they want to increase and what fees they want to reduce. the system then adjusts the fees up or down according to the votes-ratio cast by the mastercoin holders. 1 MSC = 1 vote. If no one votes the fees just stay the same.
That way the fees will never have to be hardcoded or updated by the developers and they will addjust to supply and demand. If mastercoin gets a competitor we can quickly lower the fees.
If you want me to write a complete spec for this system I will will do it if you create a nice incentive for me
thanks mughat
Master of science in computer systems engineering.
Mastercoin holders set individual service fee-sizes by a voting system integrated with the mastercoin protocol.
All individual fees on mastercoin services and %fees should be set/addjusted by mastercoin owners on a regular basis (once a week or so). people vote with their mastercoins what fees they want to increase and what fees they want to reduce. the system then adjusts the fees up or down according to the votes-ratio cast by the mastercoin holders. 1 MSC = 1 vote. If no one votes the fees just stay the same.
That way the fees will never have to be hardcoded or updated by the developers and they will addjust to supply and demand. If mastercoin gets a competitor we can quickly lower the fees.
If you want me to write a complete spec for this system I will will do it if you create a nice incentive for me
thanks mughat
Master of science in computer systems engineering.
Re: MasterCoin: New Protocol Layer Starting From “The Exodus Address”
I would love to hear what will drive the demand for the coins of mastercoin.
a) What functions of mastercoin will create a demand for the master-coins?
b) And how many coins will be needed by a normal user using the decentralised exchange functionality?
c) What planned functions if any can be used without actually buying any master-coins?
Thanks
mughat
a) What functions of mastercoin will create a demand for the master-coins?
b) And how many coins will be needed by a normal user using the decentralised exchange functionality?
c) What planned functions if any can be used without actually buying any master-coins?
Thanks
mughat
Re: [POLL] Just-Dice INVESTORS: Do you agree with lowering the max bet?
Thank you guys for understanding me.
That's why if Doog divested everyone by 75% when Nakowa was playing, it would lower his max bet to 80 btc as the total invested amount would drop to 8,000. But this would also leaving 24,000 spread out in player balances.
And then those that want to invest more that .25% of there balance can feel free to do so from their account player balance.
Now investors are at the mercy of Doog's change. It would have been much easy to divest everyone by 75% so it can free up our coins instead of keeping them at cold storage. Now the only way to get back to 1% risk is to buy 3 times the amount of BTC we have invested off of an exchange and invest more, introducing more counterparty risk, and a more cumbersome process.
The best would be set max bet to a flat 2%. And you can invest 1/2 of what you would have invested for 1% risk, or 1/8 of what you want to invest for .25% risk. Thoughts?
(I am an investor with a triple digit amount of BTC in JD)
That's why if Doog divested everyone by 75% when Nakowa was playing, it would lower his max bet to 80 btc as the total invested amount would drop to 8,000. But this would also leaving 24,000 spread out in player balances.
And then those that want to invest more that .25% of there balance can feel free to do so from their account player balance.
Now investors are at the mercy of Doog's change. It would have been much easy to divest everyone by 75% so it can free up our coins instead of keeping them at cold storage. Now the only way to get back to 1% risk is to buy 3 times the amount of BTC we have invested off of an exchange and invest more, introducing more counterparty risk, and a more cumbersome process.
The best would be set max bet to a flat 2%. And you can invest 1/2 of what you would have invested for 1% risk, or 1/8 of what you want to invest for .25% risk. Thoughts?
(I am an investor with a triple digit amount of BTC in JD)
+1
I for one is goin to devest if I only get .25%. The turnower is to small for this.
Hopefully we will get the option to set the risk % individually soon.
Re: [POLL] Just-Dice INVESTORS: Do you agree with lowering the max bet?
The number of people disagreeing with Dooglus outnumbers those agreeing by 2:1.
I hope he reconsiders what he's done. He listened to mechs instead of listening to 30,000BTC in investors who left their money in at 1%.
I hope he reconsiders what he's done. He listened to mechs instead of listening to 30,000BTC in investors who left their money in at 1%.
+1
Setting your own risk % is the solution to this madness.
Re: [POLL] Just-Dice INVESTORS: Do you agree with lowering the max bet?
If you want less risk simply invest less money. Simple as that. Think about it....
There is no good reason to change the max bet.
There is no good reason to change the max bet.
Investing less money doesn't change the risk of ruin (ie. of the site going bust). Whatever you invested, you were risking 1% of it per roll.
I have temporarily set the max profit to 0.25% because with it at 1% nakowa was able to take huge chunks of the bankroll over and over, as he has demonstrated time and time again. To make matters worse, each time he takes a chunk of the bankroll, more investors lose faith and divest, resulting in the bankroll shrinking even faster.
Risking 1% of the bankroll per bet turned out to incur a much greater risk of ruin than I had anticipated, and so I made the change to 0.25% in an attempt to prevent ongoing huge losses. At no point was it intended to be "the solution"; it's a stopgap fix until I can put something better in place. I need to seriously reconsider allowing investors to somehow set their own risk level. If some want to risk 0.25% per bet and others want to risk 1% then I don't see why I shouldn't let them.
If nakowa continues to win, the 1% people risk going bust, while the 0.25% people gain an ever increasing share of the remaining bankroll. Eventually all remaining investors (the cautious ones) will be risking 0.25% and we'll be back where we are now, and the 1% investors will have had the chance they're asking for - risk big to win big.
If nakowa does blow up one day, the 1% people get the lion's share of his losses, which they will deserve for 'keeping the faith'.
Of course, maybe he'll never return whatever happens; who can say? I know he has said many times before that he has quit.
Setting your own risk % would be great! I can't wait for that to be implemented
Re: [POLL] Just-Dice INVESTORS: Do you agree with lowering the max bet?
As many of you know, Just-dice investors lost a lot of BTC to Nakowa. He currently has 13,000BTC of investor money in his hands. As a result, dooglus lowered the max bet to 0.25%
Nakowa has stated that he will never play again since the max bet has been lowered.
As an investor, Are you happy with lowering the max bet?
EDIT: Some things to consider
PROS:
-- Less variance for investors.
CONS:
-- We must assume for now that Nakowa will not play again (this might change, but he said he won'y play again at this bet size). This means there is no way for investors to recover the 13,000BTC losses.
-- As BTC exchange rate rises bet sizes will drop. As time goes on without nakowa, its possible that the site will never hit +6000 profit making it impossible for some investors to recover their losses.
-- Changing bet size without notice wasn't good for gambler confidence.
Nakowa has stated that he will never play again since the max bet has been lowered.
As an investor, Are you happy with lowering the max bet?
EDIT: Some things to consider
PROS:
-- Less variance for investors.
CONS:
-- We must assume for now that Nakowa will not play again (this might change, but he said he won'y play again at this bet size). This means there is no way for investors to recover the 13,000BTC losses.
-- As BTC exchange rate rises bet sizes will drop. As time goes on without nakowa, its possible that the site will never hit +6000 profit making it impossible for some investors to recover their losses.
-- Changing bet size without notice wasn't good for gambler confidence.
If you want less risk simply invest less money. Simple as that. Think about it....
There is no good reason to change the max bet.
Re: OFFICIAL LAUNCH: New Protocol Layer Starting From “The Exodus Address”
Could mastercoin be used to issue/trade shares in IPOs?
Would that mean that a place like btct.co and havelock Investment would be made somewhat redundant?
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
Have Labcoin made any Hasrate roll out forcast?
I am looking for something like this:
Aug 2013: 5 TH
Sep 2013: 50 TH
Okt 2013: 55 TH
Nov 2013: 100 TH
Dec 2013: 100 TH
I am looking for something like this:
Aug 2013: 5 TH
Sep 2013: 50 TH
Okt 2013: 55 TH
Nov 2013: 100 TH
Dec 2013: 100 TH
My goal was only to get the high score.
Idea: weekly (or bi-weekly) high scores, with achievements to unlock.That would be our version of the free appetisers to people gambling a lot.
+1
Hello dooglus. Great work.
What risk am I taking on investing large amount of BTC on your site?
What is done to secure servers, funds and you from hostile governments and accidents?
What if you are accidentally hurt/killed or some government wants to close your business?
Thanks
Mughat
What risk am I taking on investing large amount of BTC on your site?
What is done to secure servers, funds and you from hostile governments and accidents?
What if you are accidentally hurt/killed or some government wants to close your business?
Thanks
Mughat
Re: [BTCT.CO] [IPO] [FAQ]BTCGARDEN MINER---Eyes to the horizon
When can I start buying shares in the IPO?
date and time?
date and time?
Just like every single other fund on BTCT you can't do shit until it's voted on. There is not and never has been a set timeline for when votes have to be in by. So there is no way to answer this, just like every single other fund.
Follow it here: https://btct.co/security/BTCGARDEN
Thanks.
Do you know how many votes it requeres for a fund to be approved?
If we look at the history of other fund approvals are we then talking hours/days/weeks on average for an approval to go through?
Re: The Holy Grail! I wish I could kiss the author of Bitmessage on his face.
* Solution for the Problem with interfacing into the legacy banking system: *
We simply create our own banking system outside of the legacy banking system bypassing old banks all together.
We as individuals create out own mini-p2p-banks with a small or large safe at home to store cash/silver/gold/whatever.
We build trust by having trusted individuals inspect/audit the mini-banks cash holdings and security on a regular basis.
Each mini-p2p-bank builds security and trust scores as independent private trusted auditors inspect their "banks".
It would be smart to store your money at different banks to protect your wealth against a bank crash.
The mini-p2p-banks handle money transports between themselves.
We simply create our own banking system outside of the legacy banking system bypassing old banks all together.
We as individuals create out own mini-p2p-banks with a small or large safe at home to store cash/silver/gold/whatever.
We build trust by having trusted individuals inspect/audit the mini-banks cash holdings and security on a regular basis.
Each mini-p2p-bank builds security and trust scores as independent private trusted auditors inspect their "banks".
It would be smart to store your money at different banks to protect your wealth against a bank crash.
The mini-p2p-banks handle money transports between themselves.
Re: Decentralised crime fighting using private set intersection protocols
I think it is helpfull to think of Gold in this discussion.
Guld used in chrims is still just gold. No reason to blacklist it or burn it in hell.
Chriminals should be delt with in court not in the money transfer system.
Guld used in chrims is still just gold. No reason to blacklist it or burn it in hell.
Chriminals should be delt with in court not in the money transfer system.
Re: Decentralised crime fighting using private set intersection protocols
Please dont regulate bitcoin and destroy it.
"REALLY worries me to see one of the core developers trying to get support for making blacklists a part of Bitcoin! If Mike wants a currency with blacklists he should go back to working on Google Wallet! I support censorship free currency, not one with authorities trying to freeze my funds!" -jedironpaul
"The road to hell is paved with good intentions. He's just trying to make Bitcoin better, but I'm not sure he realises just how flawed and dumb it is.
"He who sacrifices freedom for security deserves neither".
Since time immemorial we have wrestled with what is good and bad, and legal and illegal. It's not fucking black and white like Mike seems to think. If it was we wouldn't need courts, every circumstance is different." -ferretinjapan
from:
http://www.reddit.com/r/Bitcoin/comments/1awu5j/decentralized_crime_fighting_aka_blacklists_for/
"REALLY worries me to see one of the core developers trying to get support for making blacklists a part of Bitcoin! If Mike wants a currency with blacklists he should go back to working on Google Wallet! I support censorship free currency, not one with authorities trying to freeze my funds!" -jedironpaul
"The road to hell is paved with good intentions. He's just trying to make Bitcoin better, but I'm not sure he realises just how flawed and dumb it is.
"He who sacrifices freedom for security deserves neither".
Since time immemorial we have wrestled with what is good and bad, and legal and illegal. It's not fucking black and white like Mike seems to think. If it was we wouldn't need courts, every circumstance is different." -ferretinjapan
from:
http://www.reddit.com/r/Bitcoin/comments/1awu5j/decentralized_crime_fighting_aka_blacklists_for/