Topic: [Ann] Safecoin maidsafecoin - page 22. (Read 76678 times)

they are still in "preparation mode"...
Until they begin we will have lost all of our money/coins...
Next step to take is ... shitcoin loans... 

+1

Wow,
Mastercoin deserves a big standing O for getting MaidSafe caught up in this.  Bravo!

And now MaidSafe is forced to talk them up and thank them. Hahaha because MaidSafe is the biggest MSC holder.  What can they say without shooting themselves even more?  I'm impressed MasterCoin people pulled this off and no one will really do anything about it.

To any bag holders who lost money, be sure to thank the geniuses at the MasterCoin protocol who came up with this IPO scheme but don't expect them to be called out by MaidSafe (their new biggest shareholder) without A LOT of pressure.

Took a part this gamble, let see what's coming

Can anyone confirm what block or block time the sale ended? thanks

Hello,

Where should my safecoins be right now?
I sent some BTC and i don't know if my coins are related to the Mastercoin wallet linked to my bitcoin wallet.
Can someone help me out?

Thank you!

Moral of the story: Don`t be greedy!

You tried to make a quick buck thinking you`re clever and look where it got you.
However, the devs do carry some blame since they didn`t plan for something
like this. Take this as a lesson and leave poor old David alone. And to all the people shouting
"SCAM", to you naysayers I say Nay! Trust in MSC + MaidSafe. Nuff said.

-Al

No it costs the market dropping to nothing first

calm down. those MSC sent after the closure will be refunded to you. it just costs some time.
thanks for your patience.

I still haven't received my Mastercoins back (sent after the closure) is anyone else in the same boat? I know I said I wasn't going to sell them because that would make a bigger cunt as them but I just said that because I was emotional after waking up to losing 50k, having second thoughts I'd quite like to sell any Mastercoin I have remaining!

My bad then.

Yes worst burn price was 0.001 so it's still +300%

to all of them seems logical and the sum of maidsafe coins would be the same as if the BTCs would go out from one address... don't expect more  

Are you sure about that? Acc. to Poloniex, the price in February was 0.15 BTC/XPC, now it's around 0.003.

Counterparty is still +300% above IPO prices.

best strategy is to wait until the price in the secondary market drops by 90-95% after some weeks as with counterparty.

what if the  wallet that we sent the BTC payment shows many BTC adresses as sending?
mine shows 4 BTC addresses as sending , in which address the safecoins will be sent to?
i see others as well

from   https://groups.google.com/forum/#!topic/maidsafe-development/vkr5mty4k4s


[email protected]    
6:56 PM (17 minutes ago)


I think you guys should offer an official apology to the people on the wrong end of this decision you made. I understand you had your reasons, but this really screwed me and many other people over. On your site you said that the sale would run for a month, and that BTC and MSC would be accepted for that time.

Knowing that the MSC -> MaidSafeCoin conversion ratio allowed us to get a sort of discount on the sale, I and many others converted BTC to MSC in the past couple days, getting ready for the sale. Most of us paid at a ratio of around 0.15 BTC/MSC, thinking that we'd buy MaidSafeCoin at 0.2 BTC/MSC (as per your stated rules). Now, I go to check the safecoin sale THE DAY OF THE SALE, and Mastercoin transactions have been closed, and MSC is back to 0.1 BTC/MSC. I could convert back to BTC and buy MaidSafeCoin, but I've just lost a 3rd of my money in this price fluctuation, which was caused by your decision to shut down MSC sales.

I think you owe SOMETHING to people who had been excited and intending to invest in your company, and who you [inadvertently] jipped out of 1/3rd of their investment.

I would expect a company dependent on the kind of public goodwill which makes this kind of thing possible, to return the favor in some form.

On Tuesday, April 22, 2014 8:01:13 AM UTC-6, David Irvine wrote:
- show quoted text -


John Kypri    
7:09 PM (4 minutes ago)


If you expect to get anything for your mastercoin change them fast the current price doesn't reflect liquidity. I don't give a fuck about mine, I know they've got no inherrent value so why be a cunt like these scum and sell them on. Hard lesson in greed! Samsung laptop stuck on ins.. really annoying pressed ins doesn't do anything, possible shit windows 8? any suggestions would be appreciated.
- show quoted text -
 


[email protected]    
7:09 PM (3 minutes ago)


The easiest thing your organization could do to fix this is to simply follow your originally stated plan for the crowdsale, and accept MSC for the amount of MaidSafeCoins previously stated. Or do you want to be known as an organization that so easily can go against your word (which heavily affects your investors financially)?
If you get more MSC than you bargained for, why not just sell the extra you have for BTC? That is the fairest way to run this funding project, by sticking to your previous agreement with previous investors.

If you hope to ever have another crowdfunding event like this, it's going to be hard for future investors not to hear about this first.

What's a bit strange about this is that the Mastercoin donations "exploded" thanks to several huge donations from what I suppose are Mastercoin founders. Someone donated 9176 MSC for example, another one 8624. Those guys are working closely with Maidsafe to enable this fundraiser, you might think they would warn them that their assumption of 10% of donations via MSC was likely to be way off, especially considering the steep discount on Safecoins via MSC compared to BTC.

10 adresses donated 83% of the total 93892. There's a donation of 25000 in there, maybe that's Maidsafe themselves buying up the rest of the coins as explained by David Irvine? If not that's one big whale.. It happened 1.5 hours before the final donation though.

I'm not quite sure what to make of this mess.

Hope David Irvine will take at least some advices from Dan Larimer (bitshares founder).It is never to late...
Investors would have more confidence if in some way they cooperate to  bailout their IPO in a succesfull way.
At least I would personaly believe more on the safecoin project, knowing that some real experts, that understand economics better, are behind it.

Still in fast mode so forgive typo's and grammar

Well what a morning! I cannot think of any other with so much drama and excitement. We started a little late as we had to wait on a certain block appearing on the blockchain to start the whole thing off. That was bad enough. Then we got the block and pushed go on the websites. 

We were all in the office ready to get involved and as soon as the site showed up some got in, others were stunned at the immediate influx of bitcoins. It was incredible, I had to go home to transfer mine, but was distracted for ages looking at the screen and wondering how all these people knew and how much belief there was. This seemed to hit home more than all the praise and good comments we get on line. This was peoples total belief and right there in front of me, surreal and very humbling.

We then seen the Mastercoin blockchain explode and this will initially amazing, then it was very fast. A mastercoin block explorer site showed the sale as sold out and that was then delight into shock.

This was due to the fact MSC holders just send to an issue address and MSAFE are automatically returned. BTC hodler though had to send to a BTC address where they are collected in the background and manually xferred to MSAFE. I was in shock, all those BTC inputs had not been processed, we are all shut out (all in the office to). That was not great.

I then was straight on to the Master protocol guys (also all nighter for them) and said is this all true, have we sold out in a couple of hours? We had not, in fact it was less than 50% (Still a huge amount).

Then I was outside thinking and thinking, what is happening this is too fast, the MSC holders are at great advantage and BTC supporters are going to be disadvantaged a lot. We cannot type quickly enough for this to even out. At this rate no BTC person will get in and they will miss out. We never seen this level of support coming.

I quite quickly decided that we would use all of the MSC loan fund we had been given for the sale and buy all the remaining MSAFE. Rather than manually doing a few steps in the background we would simply transfer the MSAFE to BTC holder on confirmation of any deposit. This removed a few steps. 

We debated, is this fair, is everyone included etc. and realised, what about the bonus, the 40% sliding bonus for everyone, we cannot manually calculate that, it would be a nightmare. Then it came together, we buy all remaining MSAFE with the loan fund and everyone gets the bonus, regardless of when they get in. Then we are all in the same boat, the faster MSC people and the BTC people. It means we raise less, but more importantly for us it means the system level out and we are all on the same playing field. People know me and me search for equilibrium the whole time.

This is what we have done, it reduces the back office steps, ensures BTC backers are looked after and not squeezed out. MSC backers got in at almost equal footing as BTC (almost 50% / 50%) and we all win. The BTC goes ahead and the MSC people got in fast and made their purchase.

This is now amazing as BTC is pushing along nicely and people can be assured the panic is over and the sale is as fair as it can be. Many would argue MSC is not 50% of the coin base etc. but I think none of us realised how fast and furious this sale would be. It is unbelievable.

It means SAFE can go on strongly now, we can fund core dev, create Builders (the 10% dev pool part is unlikely to be allocated, instead the network will allocate these safecoin to Builders who produce apps people use etc.). The developer pods across the world who will compete with MaidSafe on core dev can be established and the network seeded. This is a pivotal moment for us all.

I hope all of you were as taken aback as we were, but not as shocked at trying to figure out a mechanism to include everyone. 

So please bitcoin backers, take comfort, your orders are being processed and will be fine now. We did panic with the false reporting of a site etc. but it was a good warning, we need to make sure everyone is equally treated and looked after. So now we all get to become involved, we all get the ~40% bonus and many many more people and supporters are part of this project.

Thanks everyone and sorry for the frantic start, I hope it is calmer now and continues on it's strong footing.

We will publish the number of MSAFE remaining on safecoin.io and you will see this one the blockchain in our backers holding account (address to be published) on the blockchain. This will be simpler now and I must say again thanks to the Master Protocol team, they were just amazing and Craig Sellars in particular is a guy you want beside you when things move at this speed.

So BTC all the way now, until we post the sale is over on safecoin.io, at that time any BTC will be refunded back to the sending address.

Thanks again everyone, it's a pleasure to be part of this community, I cannot wait to get back to work though and get the network up and testnet 1 running.

David Irvine