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Offline bytemaster

Questions for Mastercoin / Ethereum / BitShares Panel
« on: January 23, 2014, 05:55:54 AM »

Friday night I get to ask the Mastercoin / Ethereum guys some questions about their metalayers and I would like to know what you all think is the most compelling argument  for or against their solutions.  What questions can I ask them that will 'stump' them?   What do you think the Let's Talk Bitcoin audience would like me to challenge them on?



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Offline Pocket Sand

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #1 on: January 23, 2014, 08:11:15 AM »
Definitely the founder premine is a major concern that should be addressed. The group is doing a fundraiser and after that they are taking a significant premine of ether as well for themselves. Along with the premine strictly for the founders, they are taking another cut of ether to pay for a "long-term reserve pool to pay expenses, salaries and rewards". What confuses me the most is, shouldn't the initial fundraiser be ample to pay for the expenses, salaries, and rewards?? This is a ridiculous amount of privilege for these "founders", my two most major concerns with the issuance is that 1.) The fundraiser alone should be enough to pay for the rewards/network/salaries and 2.)If they really believed in their project then they would be well compensated alone by being the "early adopters" of the currency. The idea of how much privilege is being issued is really one of their most significant downfalls.

Offline bitcoinba

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #2 on: January 23, 2014, 12:28:45 PM »
Is this a live event that can be attended? 

Offline bytemaster

Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #3 on: January 23, 2014, 01:17:32 PM »
Is this a live event that can be attended?

Seating is limited to about 30 people and it is already filled up.
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Offline bitcoinba

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #4 on: January 23, 2014, 01:47:10 PM »
Is this a live event that can be attended?

Seating is limited to about 30 people and it is already filled up.

If at all possible, I would love to attend. I am pretty good at standing as well, seat not necessary. lol

Offline bytemaster

Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #5 on: January 23, 2014, 01:50:14 PM »
Is this a live event that can be attended?

Seating is limited to about 30 people and it is already filled up.

If at all possible, I would love to attend. I am pretty good at standing as well, seat not necessary. lol

I am afraid it isn't my call to invite more people as not even my full team can attend.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline CLains

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #6 on: January 23, 2014, 01:53:57 PM »
It is strategic to bring up if their allocation is unfair and wasteful. It is also strategic to bring up the extent to which their funding and development has been done in secret. In general you should try to imagine a few responses they might make to each question and think of a rebuttal to each.

The biggest concern you have for them is with scalability. Now here the important point is partly to get the average person to understand what the problem is. If you provide a technical analysis of a flaw, and they provide a technical rebuttal, then the audience will think of it as a "controversy" beyond their powers of assessment. However, if you are right and can lift the discussion  into common sense, then you will have the upper hand.
« Last Edit: January 23, 2014, 02:00:37 PM by CLains »
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Offline 70231f697a2b3c2b

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #7 on: January 23, 2014, 02:02:20 PM »
I'm really curious to find out if it is possible / straightforward to launch a DAC on the Etherium network with a certain % of equity reserved for Protoshares owners.

Offline bytemaster

Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #8 on: January 23, 2014, 03:15:55 PM »
I'm really curious to find out if it is possible / straightforward to launch a DAC on the Ethereum network with a certain % of equity reserved for Protoshares owners.

That would require about 10+ MB in genesis block initialization to be loaded into the Ethereum blockchain... assuming they support transactions that large ;)

I have some doozies for them to answer :) 
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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline bitcoinba

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #9 on: January 23, 2014, 03:34:46 PM »
Is this a live event that can be attended?

Seating is limited to about 30 people and it is already filled up.

If at all possible, I would love to attend. I am pretty good at standing as well, seat not necessary. lol

I am afraid it isn't my call to invite more people as not even my full team can attend.

Understood. Thanks anyway.

I think a topic that you could exploit is the market application of these technologies, and sustainable business models that can built on top of each platform. One reason I am intrigued by Bitshares and Invictus, is the development of industry specific DACs directly by Invictus, which displays a focus on real business applications of the underlying technologies and dedication to develop working applications of the theory.

Do the others do this? If so, are their business models and what industries are they focused on? What is their revenue generation plan? Do they benefit early adopters in some fashion (like PTS/AGS does)?

Offline johncitizen

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #10 on: January 23, 2014, 04:10:11 PM »
NXT are also presenting a speaker

Offline bytemaster

Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #11 on: January 23, 2014, 04:14:26 PM »
Nice.  I look forward to talking with them. 


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Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline jae208

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #12 on: January 23, 2014, 04:59:02 PM »
Definitely the founder premine is a major concern that should be addressed. The group is doing a fundraiser and after that they are taking a significant premine of ether as well for themselves. Along with the premine strictly for the founders, they are taking another cut of ether to pay for a "long-term reserve pool to pay expenses, salaries and rewards". What confuses me the most is, shouldn't the initial fundraiser be ample to pay for the expenses, salaries, and rewards?? This is a ridiculous amount of privilege for these "founders", my two most major concerns with the issuance is that 1.) The fundraiser alone should be enough to pay for the rewards/network/salaries and 2.)If they really believed in their project then they would be well compensated alone by being the "early adopters" of the currency. The idea of how much privilege is being issued is really one of their most significant downfalls.

+1

I understand the profit motive and understand that people need to make money for living expenses etc. However, when these "founders" want to be paid in advance for work yet to be done it creates greater skepticism in peoples minds. As a result there isn't as much enthusiasm and the project is doomed. AKA Invictus Innovations wins because of peoples perception of them. (more fair, open, transparent, with no premine of Protoshares.)
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Offline jae208

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #13 on: January 23, 2014, 05:04:56 PM »
Friday night I get to ask the Mastercoin / Ethereum guys some questions about their metalayers and I would like to know what you all think is the most compelling argument  for or against their solutions.  What questions can I ask them that will 'stump' them?   What do you think the Let's Talk Bitcoin audience would like me to challenge them on?

Ask the Mastercoin group why they chose to create Mastercoin on top of Bitcoin and talk about how Bitcoin has risk of centralized mining because of the ASIC miners. Why didn't they build Mastercoin on something a little bit better like Litecoin? Also, where is JR Willet? Why is progress with Mastercoin so slow?

I like Ethereum's idea for decentralized data storage and how people can earn money by renting out their hard drives. However, based on the whole premine and the fact that they want to get paid in advance for work they haven't done I would argue that while they have good ideas they aren't committed and thus may not succeed.
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Offline AdamBLevine

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Re: Questions for Mastercoin / Ethereum / BitShares Panel
« Reply #14 on: January 24, 2014, 01:11:51 AM »
NXT are also presenting a speaker

NXT was invited but they don't have a development team that is comfortable appearing at trade shows on their behalf.  They have one community member going to the conference but he isn't comfortable with the depth we're going into tomorrow.
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