npl



Offline



Activity: 158

Merit: 100









Full MemberActivity: 158Merit: 100

Re: MasterCoin: New Protocol Layer Starting From The Exodus Address November 14, 2013, 12:06:31 PM #1899 Quote from: Luckybit on November 14, 2013, 06:24:05 AM Quote from: ripper234 on November 14, 2013, 06:11:09 AM Quote from: prophetx on November 14, 2013, 03:04:15 AM Quote from: npl on November 14, 2013, 12:06:52 AM Quote from: Luckybit on November 13, 2013, 11:55:14 PM



Absolutely, but it's going to take some time to develop. Please follow the development of the user currencies feature in particular as it might be the feature you're looking for.



Thanks. Is there a centralized location where I can follow updates? Is a rough timeframe available?

In the MasterCoin Spec doc user-created currencies are described as the most important feature- so is this a priority on the dev timeline?

Thanks. Is there a centralized location where I can follow updates? Is a rough timeframe available?In the MasterCoin Spec doc user-created currencies are described as the most important feature- so is this a priority on the dev timeline?

You project sounds great!



As far as updates:



Try out blog.mastercoin.org we have updates there and also links to groups on facebook, google or linkedin, so whichever you prefer. I will be adding quora, twitter and others soon.



Right now the devs are working on p2p exchange.



I believe currencies and smart property come after that.

You project sounds great!As far as updates:Try out blog.mastercoin.org we have updates there and also links to groups on facebook, google or linkedin, so whichever you prefer. I will be adding quora, twitter and others soon.Right now the devs are working on p2p exchange.I believe currencies and smart property come after that.

Yeah. Although note that "currencies" will be first implemented as CFDs and not the original "backed currencies" concept, which may follow later on.

Yeah. Although note that "currencies" will be first implemented as CFDs and not the original "backed currencies" concept, which may follow later on.

In this case it seems they are requesting the backed currencies feature. CFDs seem to be more for reproducing USD because it can provide absolute stability in the price 1:1 with the USD.



I think CFD is probably easier to implement and less controversial so I do not blame the foundation for choosing to implement it first.



In this case it seems they are requesting the backed currencies feature. CFDs seem to be more for reproducing USD because it can provide absolute stability in the price 1:1 with the USD.I think CFD is probably easier to implement and less controversial so I do not blame the foundation for choosing to implement it first.

I think I understand what you mean, though in this particular implementation (my project) I do not require a 'backed currency,' since commodity pegging would only be done once, at the point of issue of the shares - it would not need to keep on tracking the price of the commodity after that. The price of the share would subsequently be determined through supply and demand - what it trades for on the exchange. I suppose the feature I am therefore seeking is really the 'smart property' capability.



While the CFD may be easier to implement as you say, it is in my opinion far less innovative and doesn't showcase the potential MC compared to the user issued currency/commodity possibilities. Of course, given what I am seeking to do I am biased towards that option - but it seems to me that J.R. at least recognized the same in his whitepaper.







I think I understand what you mean, though in this particular implementation (my project) I do not require a 'backed currency,' since commodity pegging would only be done once, at the point of issue of the shares - it would not need to keep on tracking the price of the commodity after that. The price of the share would subsequently be determined through supply and demand - what it trades for on the exchange. I suppose the feature I am therefore seeking is really the 'smart property' capability.While the CFD may be easier to implement as you say, it is in my opinion far less innovative and doesn't showcase the potential MC compared to the user issued currency/commodity possibilities. Of course, given what I am seeking to do I am biased towards that option - but it seems to me that J.R. at least recognized the same in his whitepaper.