Backed by $5M, Mastercoin is building new layer on Bitcoin(marketwired.com)
marketwired.com
Backed by $5M, Mastercoin is building new layer on Bitcoin
http://www.marketwired.com/press-release/backed-5-million-funding-4700-btc-mastercoin-is-building-flexible-new-layer-money-on-1859067.htm
1 comments
Couldn't agree more, the moment I looked at the FAQ and the fifth one down is "Is it fair that Mastercoin early investors are richly rewarded, considering the short issuing period of one month?", I was like seriously? If Mastercoin is such a big improvement on bitcoin, why did you choose to address that of all things right away. Also all of the currency is pre-mined over the course of a single month? Wat?
The balls that these business folk have, and the soul-less programmers who fulfill their dirty visions..Eh, I'll try not to dwell on it too much.
Mastercoin's done the same thing with no real benefits over Bitcoin itself. Seriously getting tired of these fiat fiascos. I guess creating derivative cryptocurrencies is the new version of the classic pyramid scheme.
Some people call Bitcoin a pyramid scheme because of the speculative bubble, fair enough. But these currencies, Ripple and Mastercoin, are true pyramid schemes. Founders plan to get mega-rich based on the illicit adoption of their scamware.