-Your reply clarifies a major point I've overlooked, that I'm surprised wasn't answered when David Irvine was pressed for questions on his thread.
Since it’s easier and more straightforward to particpate in the Crowdsale using BTC, it’s a reasonable assumption that the majority of particpants will be using BTC to participate. Your statement “over inflated launch price” seems to imply your bias in this case, anyway. The market sets these prices, even at the launch.
Quote from: Chang Hum on Today at 04:47:50 PM
Bold part 2 again confirming the bizarre claim about issuance in the first quote
Since the protocol uses MSC to decide how many MSAFE to generate, this should be obvious.
Wow that is mind blowing you've confirmed that mastercoin really does work in this way I assumed it must have been a mistake by David Irvine.
Floors I can imediately see:
-sucks 100% of the value out of shares/assets/tokens issued. All funds raised go to Mastercoin holders who sell into this wave.
-You've had to reconfigure the crowdsale price so only 20% of all mastercoins in existence are required rather than the 66% required initially, this will work as long as the market follows such price fixings which in themselves would be criminal in any regulated financial market.
-You've given mastercoin holders a 400% incentive to dump hard to liquidate mastercoins into this project.
Quote from: Chang Hum on Today at 04:47:50 PM
Bold part 3 Someone should mention you're crazy for this as if what you're saying is true you're missing out on 400% profit presale because of price manipulations last week.
If the market responds favorably to this, the conversion rate may end up making it more beneficial to use BTC instead of MSC. We didn’t want to see the price of MSC spike up to insane levels, so a “cap” was instituted to ensure the BTC/MSAFE ratio stayed fixed. If anything, this actually *limits* the profit opportunity for BitAngels and MSC holders, since once the MSC/MSAFE ratio is fixed, it stays at that ratio for the duration of the Crowdsale, regardless of what the market thinks an MSC is worth.
Wow you're a piece of work
![Grin](https://bitcointalk.org/Smileys/default/grin.gif)
Maybe your motivations are about quick and dirty profits, but the Mastercoin Foundation and the MaidSafe Foundation are not looking for a quick profit based on immediate market conditions. This is about building decentralized systems than can be trusted by their algorithmic nature, and leveraging the strengths of projects in the space to do so. We are ecstatic that MaidSafe has decided to use the Master Protocol for their Crowdsale, and we’re working hard to ensure that everything is as fair, open and transparent as possible.
This is about coning a small Scottish tech firm into generating funds for the final days of Mastercoin. Everyone involved should be ashamed. No doubt you're ecstatic... pathetic I hope Kama get's you all.