[ANN] IPO of MaidSafe: Entering the Future of the Decentralized Internet - page 162.

btler420

full member

Activity: 128

Merit: 100

Quote from: maidsafe on April 22, 2014, 07:44:35 AM

Quote from: btler420 on April 22, 2014, 07:39:45 AM

Quote from: ?? on ??

Quote from: BldSwtTrs on April 22, 2014, 07:21:15 AM

It's a beautiful demonstration of the Gresham Law= At fixed rate, bad money chase good money.

That's why fixed rate sucks. They made a big mistake by pumping a bad money.

Well bad money or not, Mastercoin investors are giving this project a huge start, the momentum. Lets face it, a lot of people act on peer pressure. A lot of money pouring in (Mastercoins) are making this project look "legit" (whether this is good or bad is not up for debate right now). In the bitcoin world if the IPO doesn't sell out fast it will dwindle and not reach its goal. A lot of money gets thrown in because of emotional momentum very early in the process.

If the IPO sells out fast, then the safecoins will seemingly be worth more than the IPO price. This will probably widen it's spead even more and give it good publicity. This is exactly what this project need.

But if this is a huge scam, RIP 8k BTC

anyone who said it is a scam should see what we did in the past 8 years: https://github.com/maidsafe
and http://www.coindesk.com/decentralized-internet-project-maidsafe-raise-funds-via-safecoin-sale/

When will it start then? How do you generate the other 90% of the coins? Only with POR?

klee

legendary

Activity: 1498

Merit: 1000

Quote from: maxmint on April 22, 2014, 07:46:53 AM

Apparently the MSC investment address (1ARjWDkZ7kT9fwjPrjcQyvbXDkEySzKHwu) was removed from safecoin.io.
MaidSafe really should put up an official statement and explain:
- why the MSC address was removed
- if it's still possible to invest via MSC

I have high respect for the Mastercoin people and for the MaidSafe project but I'm missing transparency here. Not communicating about this puts an otherwise interesting project in a bad light.

(My guess is that the amount of coins on the MSC side is much bigger than expected and that they would like to push the BTC side of investments.)

Transparency transparency transparency
Red flag

superresistant

legendary

Activity: 2156

Merit: 1131

Quote from: ?? on ??

Quote from: maidsafe on April 22, 2014, 07:44:35 AM

anyone who said it is a scam should see what we did in the past 8 years: https://github.com/maidsafe
and http://www.coindesk.com/decentralized-internet-project-maidsafe-raise-funds-via-safecoin-sale/

Your second link is literally an advertisement for this fundraiser.
So half of what you've done in 8 years is run this fundraiser. Right.
When is the network launching?

Lol he is basically monetising open source content.

BldSwtTrs

legendary

Activity: 861

Merit: 1010

Quote from: maxmint on April 22, 2014, 07:46:53 AM

(My guess is that the amount of coins on the MSC side is much bigger than expected and that they would like to push the BTC side of investments.)

Yes it's probably that. They were saying to expect MSC funding to be marginal be in the first hours it appears to be 4/5 of the investment

maxmint

hero member

Activity: 700

Merit: 500

Apparently the MSC investment address (1ARjWDkZ7kT9fwjPrjcQyvbXDkEySzKHwu) was removed from safecoin.io.
MaidSafe really should put up an official statement and explain:
- why the MSC address was removed
- if it's still possible to invest via MSC

I have high respect for the Mastercoin people and for the MaidSafe project but I'm missing transparency here. Not communicating about this puts an otherwise interesting project in a bad light.

(My guess is that the amount of coins on the MSC side is much bigger than expected and that they would like to push the BTC side of investments.)

maidsafe

jr. member

Activity: 49

Merit: 1

Quote from: btler420 on April 22, 2014, 07:39:45 AM

Quote from: ?? on ??

Quote from: BldSwtTrs on April 22, 2014, 07:21:15 AM

It's a beautiful demonstration of the Gresham Law= At fixed rate, bad money chase good money.

That's why fixed rate sucks. They made a big mistake by pumping a bad money.

Well bad money or not, Mastercoin investors are giving this project a huge start, the momentum. Lets face it, a lot of people act on peer pressure. A lot of money pouring in (Mastercoins) are making this project look "legit" (whether this is good or bad is not up for debate right now). In the bitcoin world if the IPO doesn't sell out fast it will dwindle and not reach its goal. A lot of money gets thrown in because of emotional momentum very early in the process.

If the IPO sells out fast, then the safecoins will seemingly be worth more than the IPO price. This will probably widen it's spead even more and give it good publicity. This is exactly what this project need.

But if this is a huge scam, RIP 8k BTC

anyone who said it is a scam should see what we did in the past 8 years: https://github.com/maidsafe
and http://www.coindesk.com/decentralized-internet-project-maidsafe-raise-funds-via-safecoin-sale/

btler420

full member

Activity: 128

Merit: 100

Quote from: ?? on ??

Quote from: BldSwtTrs on April 22, 2014, 07:21:15 AM

It's a beautiful demonstration of the Gresham Law= At fixed rate, bad money chase good money.

That's why fixed rate sucks. They made a big mistake by pumping a bad money.

Well bad money or not, Mastercoin investors are giving this project a huge start, the momentum. Lets face it, a lot of people act on peer pressure. A lot of money pouring in (Mastercoins) are making this project look "legit" (whether this is good or bad is not up for debate right now). In the bitcoin world if the IPO doesn't sell out fast it will dwindle and not reach its goal. A lot of money gets thrown in because of emotional momentum very early in the process.

If the IPO sells out fast, then the safecoins will seemingly be worth more than the IPO price. This will probably widen it's spead even more and give it good publicity. This is exactly what this project need.

But if this is a huge scam, RIP 8k BTC

zlezsls

newbie

Activity: 12

Merit: 0

i like it,and buy ...

TheMightyX

sr. member

Activity: 350

Merit: 250

Vires in Numeris

Quote from: btler420 on April 22, 2014, 07:27:46 AM

Quote from: ?? on ??

Quote from: TheMightyX on April 22, 2014, 07:14:50 AM

Would have been nice if they at least tried to impose some sort of investment limit so the whales didn't take all the available safecoins.
Considering there is a set limit of them.

Pretty weak actually. quite the oversight.
Seems like they are more interested in the money-grab than a fair distribution.

BTC side - ~68 mil. safecoins
MSC side - ~235 mil. safecoins

So there are about ~130mil safecoins still available.

More than 50% gone in the first day - I bet alot of ppl are not able to invest into this coin because they do not have BTC or funds on exchanges in order to buy some to invest into the IPO.

Bank -> Exchange (2days~) but in 2 days those coins are gone.

Yes, that is the problem with a fixed rate.
They also underestimated the demand and gave too much per btc.
Should have been 1/10th that with this kind of demand.
At this rate it will run out before the morning.

btler420

full member

Activity: 128

Merit: 100

Quote from: ?? on ??

Quote from: TheMightyX on April 22, 2014, 07:14:50 AM

Would have been nice if they at least tried to impose some sort of investment limit so the whales didn't take all the available safecoins.
Considering there is a set limit of them.

Pretty weak actually. quite the oversight.
Seems like they are more interested in the money-grab than a fair distribution.

BTC side - ~68 mil. safecoins
MSC side - ~235 mil. safecoins

So there are about ~130mil safecoins still available.

More than 50% gone in the first day - I bet alot of ppl are not able to invest into this coin because they do not have BTC or funds on exchanges in order to buy some to invest into the IPO.

Bank -> Exchange (2days~) but in 2 days those coins are gone.

TheMightyX

sr. member

Activity: 350

Merit: 250

Vires in Numeris

Quote from: maidsafe on April 22, 2014, 07:25:17 AM

Quote from: TheMightyX on April 22, 2014, 07:23:02 AM

Quote from: Bimmerhead on April 22, 2014, 07:10:58 AM

Largest single transaction so far is for 902.30406 BTC. Don't know the largest on the Mastercoin side.

Grrrreeaaattt.

So one person owns 3.5% of all safecoins?

Quote

902.30406 x 17,000 = 15,339,169.02

Total Safecoins = 429,496,729

no, the total safecoins is 4,294,967,290. just 10% for IPO.

ohh awesome, thats much better.

maidsafe

jr. member

Activity: 49

Merit: 1

Quote from: TheMightyX on April 22, 2014, 07:23:02 AM

Quote from: Bimmerhead on April 22, 2014, 07:10:58 AM

Largest single transaction so far is for 902.30406 BTC. Don't know the largest on the Mastercoin side.

Grrrreeaaattt.

So one person owns 3.5% of all safecoins?

Quote

902.30406 x 17,000 = 15,339,169.02

Total Safecoins = 429,496,729

no, the total safecoins is 4,294,967,290. just 10% for IPO.

TheMightyX

sr. member

Activity: 350

Merit: 250

Vires in Numeris

Quote from: Bimmerhead on April 22, 2014, 07:10:58 AM

Largest single transaction so far is for 902.30406 BTC. Don't know the largest on the Mastercoin side.

Grrrreeaaattt.

So one person owns 3.5% of all safecoins?

Quote

902.30406 x 17,000 = 15,339,169.02

Total Safecoins = 429,496,729

BldSwtTrs

legendary

Activity: 861

Merit: 1010

Quote from: ?? on ??

Quote from: TheMightyX on April 22, 2014, 07:14:50 AM

Would have been nice if they at least tried to impose some sort of investment limit so the whales didn't take all the available safecoins.
Considering there is a set limit of them.

Pretty weak actually. quite the oversight.
Seems like they are more interested in the money-grab than a fair distribution.

BTC side - ~68 mil. safecoins
MSC side - ~235 mil. safecoins

So there are about ~130mil safecoins still available.

It's a beautiful demonstration of the Gresham Law= At fixed rate, bad money chase good money.

That's why fixed rate sucks. They made a big mistake by pumping a bad money.

TheMightyX

sr. member

Activity: 350

Merit: 250

Vires in Numeris

Would have been nice if they at least tried to impose some sort of investment limit so the whales didn't take all the available safecoins.
Considering there is a set limit of them.

Pretty weak actually. quite the oversight.
Seems like they are more interested in the money-grab than a fair distribution.

btler420

full member

Activity: 128

Merit: 100