Tag Archives: Bitshares

protoshares

Protoshares is an Ecoin that is directly tied to the value of the work being performed by the computers in the peer to peer network.  Computers that are mining for the Ecoin and processing transactions for the Ecoin are entitled to a proportional amount of the value derived from these activities.  Protoshares are actually the precursor to Bitshares which will be the ‘stock’ in a Distributed Autonomous Corporation (DAC).  The DAC is a peer to peer cloud computing company that in a sense is for hire.  The owners of the DAC are the holders of the Ecoin associated with the DAC.  For this initial DAC, the company that is launching it, is trading Protoshares for other Ecoins to provide seed capital to build the DAC.  The initial DAC is being developed by a company called Invictus Innovations Incorporated.

The DAC is conceived to be be a flexible peer to peer network for hire. For most other Ecoins, the mining computers only mine for the Ecoin and/or process transfers of the Ecoin.  The vision of the DAC is compensate the holders of the Ecoin proportionally to their coin holding for the mining, processing and other tasks being performed by the network.  Anyone may acquire shares in the DAC by mining or trading for Photoshares now and Bitshares later.

Once the company launches the DAC, the Protoshare holders will exchange their Protoshares for shares of the DAC called Bitshares.  The value of the Bishares is backed by the processing work of the DAC network computers.  Some of these services could include payment processing, asset trading, domain name services (DomainShares), and in the future any service that benefits from peer to peer network computing.  It is possible that in the future a DAC could operate like a cloud computing solution like Amazon Web Services and become a very strong wealth generator.

EcoinClub (1)While the bears hug BTC and LTC today, some Altcoins are getting hooked by the Bull and going for a ride. Here are the most popular Altcoins RIGHT NOW in Ecoin Club community.  Please note that the coin exchange rates fluctuate quickly.  Click the Coin name to see the most updated information and charts. 

11/16/2013 – Popular Altcoins

Devcoins:  Devcoin has been trending up since the 12th.  After a quick retreat earlier today and yesterday the Decoin shows some bounce back.  They are up as much as 8% in the last 24 hours.
Goldcoins: Goldcoin trade against BTC and have had a stable ascend since last November.  They are up as much as 18% in the last 24 hours.
Worldcoins: Worldcoin started rising in late November and have continued to stay up.  They are up as much as 35% in the last 24 hours.
Diamondcoins: Diamondcoin has been around since July.  As recently as November they were at about zero.  The market seems to have picked up steam.  while it is still well off its highs, they are up as much as 40% in the last 24 hours.

Tomorrow’s Altcoins?

Nobody can predict the future but these Ecoins are showing something that makes us want to get a few.

AmericanCoin:  This coin was introduced back in June and it had a very slow and steady decline until a little past Thanksgiving.  Then it started to show signs of life and a heartbeat. Since the 8th of December that heartbeat has been getting stronger.

Stablecoin: The name is kind of ironic because in the exchanges, this Ecoin is anything but stable.  It has had some big pumps and big dumps.  It is exchanging near its 10 day lows and  no where near its highs.  This Ecoin may still have some dump to go, but we are keeping our eye on it, just in case dump goes to pump.

Protoshares:  This Ecoin is the precursor to a Distributed Autonomous Corporation (DAC) which is basically a peer to peer network for hire.  Most Ecoins mining computers only mine for the Ecoin and/or process transfers of the Ecoin.  The vision of the DAC is to put that computing power to ‘better’ use.  Anyone may acquire shares in the DAC by mining or trading for Photoshares.  The initial DAC is being developed by a company called Invictus Innovations Incorporated.

Once the company launches the DAC, the Protoshare holders will be able to exchange their Protoshares for shares of the DAC called Bitshares.  The value of the Bishares is backed by the processing work of the DAC network computers.  Some of these services could include payment processing, asset trading, domain name services (DomainShares), or really any service that benefits from peer to peer network computing – which is just about anything.  For example, it is possible that i the future a DAC could operate like a cloud computing solution like Amazon Web Services.  As a Bitshare holder, the Bitshare owner is entitled to a dividend for the value of the work performed by the DAC.  Most other ecoins are only backed by the Ecoin’s value as a form of wealth representation and transferability.  Photoshares aim be be valued by the work being performed by the network running the Photoshare.

 

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Mastercoin is an open source Ecoin being developed by the Bitcoin community. Mastercoin is not your typical new ecoin. It is different than Litecoin, Infintecoin etc. It does not have its own blockchain. Instead it leverages the existing Bitcoin block chain and adds new services on top of  Bitcoin. Mastercoin is still very much in the initial development stage. Once fully implemented, Mastercoins will allow for extremely small transactions at no or little transaction costs, allow user to create their own coins, and create a tools for refunds and cancellations.

Mastercoin allows for extremely small transactions

Right now, Bitcoin transaction costs $.10 at a $1000 Bitcoin value.  This makes small purchases almost impossible with Bitcoins.  Mastercoin is designed to piggyback on the Bitcoin blockchain and allow small transaction to process for free or a very small fee.

Mastercoin is a long tail Ecoin platform

The Mastercoin software will allow anyone – neighborhoods, business, charities, schools etc.  to create their own ecoins that use the Bitcoin protocol and are tied to Bitcoin value. The software implementing Mastercoins will contain simple tools which will allow anyone to design and release their own currency with their own rules (without doing software development).  Mastercoin could do for currency, what WordPress did for websites.

Mastercoin has a special features to secure your Ecoins.

Mastercoin has a special feature referred to as the savings/guardian model.  This is basically a saving wallet and a guardian key.  If your Mastercoin wallet gets hacked, or the key to your guardian address gets lost or destroyed, the coins can still be recovered.  Right now, if your Bitcoin wallet gets hacked or if you lose access to the wallet, your Bitcoins are lost.  Mastercoin allows for reversible transactions.  Transfers can be reversed for one year.  One scenario where this could become valuable is for estate planning.  You simply give your heir(s) a paper copy to the private key of your savings address, but you keep the guardian address key to yourself. If you die, your heirs can transfer the funds out of your savings (they will have to wait for the reversibility period to pass), but they can’t steal from you while you are alive since you are the only one with the key to the guardian address and can reverse their transaction if they try.

Mastercoin has an extremely active community which has pointed out and corrected flaws in the currency.  Mastercoin, Coloredcoin and Bitshares recently formed a industry foundation to advocate for the continued free operation of Ecoin protocols.  Mastercoin has a current market cap of about $50,000,000 and is currently only available through private transactions. For additional information about acquiring Mastercoins submit your email below.