ripper234



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Ron Gross







LegendaryActivity: 1358Merit: 1002Ron Gross Mastercoin Faucet: New Bounty ($500-$850) October 30, 2013, 02:13:24 PM

Last edit: October 31, 2013, 04:59:24 PM by ripper234 #1



I discussed with the board and approved a small allocation of funds for a bounty for building a Mastercoin Faucet.

While this part of the ecosystem isn't strictly required, because soon everybody will be able to buy mastercoins directly off the distributed exchange, I still think that giving small amounts of mastercoins to new users is a cool additional service we can provide.



Bounty size: $500+$50 per authentication method beyond the first, from the ones listed below. You can start by implementing just a few authentication methods, but at least one premium authentication method has to be supported.



Acceptance criteria:



Create a webpage that sends a small amount of mastercoins to anyone that passes certains qualifications, in order to prevent abuse. Qualifications we can start with:



Premium authentication

Anyone who's had a github account with either (at least 3 public repositories) or (stared one of the mastercoin github repositories listed here) and (account created before date Aug 1st 2013).

Anyone with a reddit account with karma above 100.

Anyone who had a bitcointalk account with activity score > 10, at least 10 posts, accounts created prior to Aug 1 2013. This one would be more difficult to implement given the lack of API, and so this feature is awarded $150 instead of $50.

Basic authentication

Anyone with a Google/Facebook account (amount given here should be smaller, this criteria might be easier to spam)



Security

The service should be "hard to hack". We will delay awarding the bounty until 30 days pass from the site's launch without a serious security incident.



Funding

The site will display available funds at time of access. The Mastercoin Foundation will award:



$0.5 worth of mastercoins for the first 1,000 people that authenticate via premium authentication.

$0.1 worth of mastercoins for the next 10,000 people, or to people that authenticate via basic authentication.



In other words, we will allocate a total of $1,500 for the faucet's visitors. The faucet will award visitors based on their chosen authentication method. When the $500 allocated to premium authentication runs out, these users will be served by the $1,000 pool dedicated to basic authentication.



The worth of each mastercoin in USD can be hardcoded at first (updated at least weekly).



Bonus $50 - find the value of MSC in USD by first finding the value of MSC-BTC via the distributed exchange, and then multiplying by the value of BTC-USD via bitstamp or another exchange.



The website should be open source, with the code hosted on github.



Maintenance

The site is expected to be maintained even beyond the 30-day "hack test" period.

We are not yet committed to additional funds as rewards beyond the initial $1,500 - we will consider this when the funds run out. Hi all,I discussed with the board and approved a small allocation of funds for a bounty for building a Mastercoin Faucet.While this part of the ecosystem isn't strictly required, because soon everybody will be able to buy mastercoins directly off the distributed exchange, I still think that giving small amounts of mastercoins to new users is a cool additional service we can provide.: $500+$50 per authentication method beyond the first, from the ones listed below. You can start by implementing just a few authentication methods, but at least one premium authentication method has to be supported.Create a webpage that sends a small amount of mastercoins to anyone that passes certains qualifications, in order to prevent abuse. Qualifications we can start with:Anyone with a Google/Facebook account (amount given here should be smaller, this criteria might be easier to spam)The service should be "hard to hack". We will delay awarding the bounty until 30 days pass from the site's launch without a serious security incident.The site will display available funds at time of access. The Mastercoin Foundation will award:$0.5 worth of mastercoins for the first 1,000 people that authenticate via premium authentication.$0.1 worth of mastercoins for the next 10,000 people, or to people that authenticate via basic authentication.In other words, we will allocate a total of $1,500 for the faucet's visitors. The faucet will award visitors based on their chosen authentication method. When the $500 allocated to premium authentication runs out, these users will be served by the $1,000 pool dedicated to basic authentication.The worth of each mastercoin in USD can be hardcoded at first (updated at least weekly).Bonus $50 - find the value of MSC in USD by first finding the value of MSC-BTC via the distributed exchange, and then multiplying by the value of BTC-USD via bitstamp or another exchange.The website should be open source, with the code hosted on github.The site is expected to be maintained even beyond the 30-day "hack test" period.We are not yet committed to additional funds as rewards beyond the initial $1,500 - we will consider this when the funds run out.

Executive Director

Co-founder of the Israeli Bitcoin Association Please do not pm me, use ron@bitcoin.org.il instead Mastercoin Executive DirectorCo-founder of the Israeli Bitcoin Association

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prophetx



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he who has the gold makes the rules







LegendaryActivity: 1624Merit: 1002he who has the gold makes the rules Re: Mastercoin Faucet: New Bounty ($500-$850) October 31, 2013, 01:07:11 AM #6



https://ripple.com/forum/viewtopic.php?t=3800&p=18691 be careful with the bitcointalk accounts, it turned out that whoever hacked this site last month created a ton of bogus accounts in order to take advantage of the script that ran for the XRP giveaway

ripper234



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Ron Gross







LegendaryActivity: 1358Merit: 1002Ron Gross Re: Mastercoin Faucet: New Bounty ($500-$850) October 31, 2013, 04:56:59 PM #7 Quote from: prophetx on October 31, 2013, 01:07:11 AM



https://ripple.com/forum/viewtopic.php?t=3800&p=18691

be careful with the bitcointalk accounts, it turned out that whoever hacked this site last month created a ton of bogus accounts in order to take advantage of the script that ran for the XRP giveaway

Quote

I would like to confirm that my fears are now reality, every single one of the BitcoinTalk accounts in the Ripple Giveaway thread, which was new (registered few days ago) and only had 1-3 posts, is edited and is now registered before February 19, 2013, 18:45 UTC and is eligible for Ripple Giveaway. I hope that someone listened

Let's modify the criteria to require 10 posts per bitcointalk account, I assume that it's hard to make 10 bot posts and not get flagged.



This authentication method is optional, whoever implements this bounty - you can skip it for now if you want. Let's modify the criteria to require 10 posts per bitcointalk account, I assume that it's hard to make 10 bot posts and not get flagged.This authentication method is optional, whoever implements this bounty - you can skip it for now if you want.

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Co-founder of the Israeli Bitcoin Association Please do not pm me, use ron@bitcoin.org.il instead Mastercoin Executive DirectorCo-founder of the Israeli Bitcoin Association

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Hero MemberActivity: 874Merit: 1000 Re: Mastercoin Faucet: New Bounty ($500-$850) November 04, 2013, 01:48:13 AM #13 Quote from: ripper234 on November 03, 2013, 11:11:56 AM We feel that this feature is of low priority, Faucets are mere gimmicks. Mastercoin doesn't need a gimmick to attract attention because the quality of the spec speaks for itself. Why waste even one more second making a gimmick to attract freeloaders?



This is a legitimate project - not a pump and dump scam. Pump and dump scams love things like faucets. Time to give up on this stupid effort and get back to contributing to the real function of the Mastercoin core. Faucets are mere gimmicks. Mastercoin doesn't need a gimmick to attract attention because the quality of the spec speaks for itself. Why waste even one more second making a gimmick to attract freeloaders?This is a legitimate project - not a pump and dump scam. Pump and dump scams love things like faucets. Time to give up on this stupid effort and get back to contributing to the real function of the Mastercoin core.

ripper234



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Ron Gross







LegendaryActivity: 1358Merit: 1002Ron Gross Re: Mastercoin Faucet: New Bounty ($500-$850) November 04, 2013, 12:03:14 PM #14 Gavin ran a faucet for Bitcoin for a long time ...



As I said, it's a low priority feature, so we won't concentrate a lot of effort into it, but if someone wants to pick this up and create the first Mastercoin faucet, he'll get a token reward for his effort.



We're focusing most of our energy on other projects, don't worry.

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Co-founder of the Israeli Bitcoin Association Please do not pm me, use ron@bitcoin.org.il instead Mastercoin Executive DirectorCo-founder of the Israeli Bitcoin Association

prophetx



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he who has the gold makes the rules







LegendaryActivity: 1624Merit: 1002he who has the gold makes the rules Re: Mastercoin Faucet: New Bounty ($500-$850) November 04, 2013, 01:12:23 PM #15 Quote from: TKeenan on November 04, 2013, 01:48:13 AM Quote from: ripper234 on November 03, 2013, 11:11:56 AM We feel that this feature is of low priority, Faucets are mere gimmicks. Mastercoin doesn't need a gimmick to attract attention because the quality of the spec speaks for itself. Why waste even one more second making a gimmick to attract freeloaders?



This is a legitimate project - not a pump and dump scam. Pump and dump scams love things like faucets. Time to give up on this stupid effort and get back to contributing to the real function of the Mastercoin core.

Faucets are mere gimmicks. Mastercoin doesn't need a gimmick to attract attention because the quality of the spec speaks for itself. Why waste even one more second making a gimmick to attract freeloaders?This is a legitimate project - not a pump and dump scam. Pump and dump scams love things like faucets. Time to give up on this stupid effort and get back to contributing to the real function of the Mastercoin core.

That is a matter of opinion, and there are plenty of people who do not get it or learn by doing rather than reading a spec. The give away portion is almost nothing, and I doubt anyone is going to go after it as a serious source of income.



Mastercoin is a new concept on top of a new concept and giving these away allows newbies to have some small incentive to play with it in order to learn how to use the various tools and software involved.



For example, some people might want to try a few test transactions in order to be confident in the inner workings of mastercoin before they throw down serious btc.

That is a matter of opinion, and there are plenty of people who do not get it or learn by doing rather than reading a spec. The give away portion is almost nothing, and I doubt anyone is going to go after it as a serious source of income.Mastercoin is a new concept on top of a new concept and giving these away allows newbies to have some small incentive to play with it in order to learn how to use the various tools and software involved.For example, some people might want to try a few test transactions in order to be confident in the inner workings of mastercoin before they throw down serious btc.

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Hero MemberActivity: 874Merit: 1000 Re: Mastercoin Faucet: New Bounty ($500-$850) November 04, 2013, 04:35:50 PM #16 Quote from: prophetx on November 04, 2013, 01:12:23 PM Mastercoin is a new concept on top of a new concept and giving these away allows newbies to have some small incentive to play with it in order to learn how to use the various tools and software involved. Mastercoin cannot benefit from those kinds of people who are motivated by a few pennies to learn to use some tools and software. We need to attract a different sort of thinker. People who are attracted by faucets for free pennies are not the type of people who will materially effect the protocol in the long run. Drop the faucet - it is dumb. Mastercoin cannot benefit from those kinds of people who are motivated by a few pennies to learn to use some tools and software. We need to attract a different sort of thinker. People who are attracted by faucets for free pennies are not the type of people who will materially effect the protocol in the long run. Drop the faucet - it is dumb.

prophetx



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he who has the gold makes the rules







LegendaryActivity: 1624Merit: 1002he who has the gold makes the rules Re: Mastercoin Faucet: New Bounty ($500-$850) November 04, 2013, 04:44:44 PM #17 Quote from: TKeenan on November 04, 2013, 04:35:50 PM Quote from: prophetx on November 04, 2013, 01:12:23 PM Mastercoin is a new concept on top of a new concept and giving these away allows newbies to have some small incentive to play with it in order to learn how to use the various tools and software involved. Mastercoin cannot benefit from those kinds of people who are motivated by a few pennies to learn to use some tools and software. We need to attract a different sort of thinker. People who are attracted by faucets for free pennies are not the type of people who will materially effect the protocol in the long run. Drop the faucet - it is dumb.

Mastercoin cannot benefit from those kinds of people who are motivated by a few pennies to learn to use some tools and software. We need to attract a different sort of thinker. People who are attracted by faucets for free pennies are not the type of people who will materially effect the protocol in the long run. Drop the faucet - it is dumb.

People are motivated by not losing real money, that is why a faucet allows them to test a system and gain confidence that their money is not going into some black hole.



For example, just the other day when I was writing a tutorial I overlooked the transaction fee portion and had an unconfirmed tx that locked all of the funds in my wallet even though I was only spending about 1% of the total. I had to spend 1 hour to download and set up pywallet to clean up my wallet.dat and do a rescan. Now, I am not a technical wizard, but certainly there are people out there who will use these technologies and do stupid things, it is better that they make errors with insignificant amounts rather than doing something with larger amounts. People are motivated by not losing real money, that is why a faucet allows them to test a system and gain confidence that their money is not going into some black hole.For example, just the other day when I was writing a tutorial I overlooked the transaction fee portion and had an unconfirmed tx that locked all of the funds in my wallet even though I was only spending about 1% of the total. I had to spend 1 hour to download and set up pywallet to clean up my wallet.dat and do a rescan. Now, I am not a technical wizard, but certainly there are people out there who will use these technologies and do stupid things, it is better that they make errors with insignificant amounts rather than doing something with larger amounts.