Topic: [Ann] Safecoin maidsafecoin - page 18. (Read 76477 times)

Some observations:

 - All MaidSafeCoins are Master protocol tokens.

 - All MaidSafeCoins were sold in a crowdsale which started at blockheight 297115 and ended at blockheight 297148.

 - A timeframe of 30 days was estimated to finish the crowdsale. It took only 5 hours, 28 minutes and 40 seconds until all 450 million tokens were sold.

 - Approximately 450 million tokens were created and sold for about 94 thousand MSC. This is sligthly above the target of 429,496,729 tokens.

 - The additional 20 million tokens were probably created because the crowdsale was closed manually and a few purchase transactions confirmed before the close order became valid.

 - About 75 MSC confirmed after the crowdsale was closed. As far as I know they are going to be returned.
 
 - MaidSafeCoins sold for Bitcoin were actually bought for Mastercoin, too.

 - There seems to be a party with many MaidSafeCoins. A very wild guess: those are the tokens which are going to be distributed to BTC buyers.

 - It's unclear for me, if those tokens were already sold for BTC or if they are used to fill upcoming BTC purchases.

 - Closing the MSC crowdsale was required to cap the amount of all MaidSafeCoins and not to punish MSC holders.

 - One may argue, if it was unfortunate for MSC holders when one party buys up large amount of MaidSafeCoins. Maybe it was necessary to serve the already sold tokens to BTC buyers, maybe not.


The crowdsale was fair in the sense that anyone who wanted could have bought all MaidSafeCoins and since the crowdsale was closed due to the total amount of sold tokens, I think it's actually unfair to say "the rules and promises were broken".

Nevertheless: I'm not yet sure, if I should be happy or sad about today.

Yup and that's what proof of work is - a distribution mechanism along with nifty confirmations.

I still don't know if that's a good value for what Safecoin represents though - I don't imagine any of us do until a product is released and we get a chance to see it work as well as the market dynamics for how useful it is. I'm hoping that 8 years in development means that they really do have some brilliant work done.

Well you are correct there,  if you calculate mined coins up to their max # of coins and treat mining as just some kind of distribution.

They said it would take approximately 24 hours for BTC addresses to be credited if I am not mistaken...

That's not quite accurate. Total market cap for Litecoin for all coins in existence (mined) is $337m. If you're going to compare market caps, there are only ~ 450m Safecoins in existence today. Many bought with MSC but using the higher price of 17000 Safecoins / BTC you get a market cap of around $13m.

Litecoin market cap: $337m
Safecoin market cap: $13m

Future market cap with all coins to come into existence based upon today's prices:

Litecoin market cap: ~ $1bn
Safecoin market cap: ~ $130m

I sent a bitcoin about 2 hours ago, the website says nothing about being sold out. What happens now?

I am by no means saying rules were changed, I think I am just confused here so don't take my statements as that please.

Changing the rules in the middle of the game smells a little bit fishy.

Is there somewhere an official response/apology to all MSC buyers that were left with an investment non-option and 50% loss?

i am wondering the same thing, in the other post, it appears the amount of safecoin that has been distributed to just the mastercoin donations exceeds the total amount of IPO coins. not even including any bitcoin deposits yet

so there seems to be a lot of confusion going around , hopefully will be explained soon enough

Ya, I've heard some mixed rumors about some things being converted and reselling at .2 - it's a bit confusing but I was told they are not taking anymore orders (I could be wrong) but I'm not able to buy any.

Maybe I'm missing something?

the only math that needs changing is the 227,998,535/23,800 which is 9579.77 so still just over half way to the total

Total market cap for safecoin is at $120m,  that's 1/2 of litecoin valuation.   So, there is some level of risk buying this.

However, I considered that these guys have been working on this for 5-6 years,  they have several papers that are quite impressive.  So, they've got the technical wherewhithal to make this work.   Now,  as far as monetization,  well,  that's always an open question.

Yes!..and given the manual input to action BTC purchases, it's a wonder they didn't see this up front.

Yes, you're missing something. There was a 40% early buy in bonus. So you can't just say, "Let's forget bonuses". Redo all your math, take all the purchases so far and add 40%

so I buy Mastercoins. Announce an IPO. People buy Mastercoin and raise the price. Then they give me more Mastercoins. I dump mine and the raised ones and make awesome money. Additionally a couple of BTC. With the 12M$ IPO and the Msc pump and dump, I am fucking rich.

Oh my god, I hope for you this will not happen. Cruel shit.

Sorry I meant Mastercoins, but that's a lot. Good to hear you're ok though.

They said it was going to be 50/50 mastercoin / BTC for the crowd purchase which if you look at the addresses and factor in the bonuses, it's done already, sold out.

Yeah, I am alright.  I didn't 'lose 1000 bitcoins'.  It was only 720.  And it was mastercoins - not bitcoins.  I wanted to invest 720 Mastercoins - but they closed us out very early this morning.  

If they closed because they were sold out before I woke up, then tough shit for me.  But if they rigged the buying against Mastercoin holders after people were buying them during the two previous days, then I think MaidSafe should do some serious explaining and recompense.  You can't change the rules.  

MaidSafe will have a serious unpleasant stank hanging around for a long time if they don't fix that little defect to the satisfaction of participants.  

My MSAFE are showing up here:
http://www.mymastercoins.com/default.aspx?Addr=1GdGbQWvnPLzGBT8SL5YhPhvPwz12A3vZN&CurrencyID=3

but not on Masterchest.info, my transaction there is 1 minute later than the latest MSAFE distribution.  I'm hoping it will update and they will appear...

Also, how do we see them in the web wallet at masterchain.info?  I don't see anything there about Maidsafecoins.

Are they selling?.. Obviously that would be odd but perhaps the market needs to be fed?