Topic: MasterCoin Buyer/Seller Thread - page 137. (Read 226689 times)

In fact, I DID do a giveaway thread during the month of August when MSC was first on sale: https://bitcointalksearch.org/topic/paused-giveaway-for-mastercoins-the-new-protocol-layer-built-on-bitcoin-272577

I actually have some left over from that giveaway, which I previously said I would split up among the top promoters. I'd still like to give some money to the top promoters from the first giveaway, but the value of MSC has risen a lot since then, so I think it's fair to reserve most of it for another giveaway.

There's still 394.84328263 MSC earmarked for giveaway here: http://mastercoin-explorer.com/addresses/15og4WXZPwkMnnsb3dj6HqgTUfcRLx4J9b

Running the giveaway took a LOT of my time, but if someone trustworthy wants to get it running again, I can turn over that 394 MSC. I gave bits of MSC out for people who wrote blog posts, changed their forum signature, or otherwise made some good-faith effort to promote the project. I would suggest continuing the model where you have to at least tweet about MSC to qualify for some.

Given how much time it took me to run the giveaway, I think it would be fair to have the person running it take a bit off the top for themselves. Maybe 10%?

If someone wants to run this, let me know. I'm a little paranoid about trusting someone with that much money. I'd probably not give it all to you at once, no matter how trustworthy you are

Any volunteers?

Once again, who is we? All 100 of us? I want it to be 5000 of us at least.

What good is it when we have a decentralized exchange if it's only 100 of us using it? We want thousands of people with MSC trying it out making trades because that is where long term value comes from.

I can turn over that 394 MSC. I gave bits of MSC out for people who wrote blog posts, changed their forum signature, or otherwise made some good-faith effort to promote the project. I would suggest continuing the model where you have to at least tweet about MSC to qualify for some.

I would volunteer but I don't even know how to send Mastercoins out yet.

In fact, I DID do a giveaway thread during the month of August when MSC was first on sale: https://bitcointalksearch.org/topic/paused-giveaway-for-mastercoins-the-new-protocol-layer-built-on-bitcoin-272577

I actually have some left over from that giveaway, which I previously said I would split up among the top promoters. I'd still like to give some money to the top promoters from the first giveaway, but the value of MSC has risen a lot since then, so I think it's fair to reserve most of it for another giveaway.

There's still 394.84328263 MSC earmarked for giveaway here: http://mastercoin-explorer.com/addresses/15og4WXZPwkMnnsb3dj6HqgTUfcRLx4J9b

Running the giveaway took a LOT of my time, but if someone trustworthy wants to get it running again, I can turn over that 394 MSC. I gave bits of MSC out for people who wrote blog posts, changed their forum signature, or otherwise made some good-faith effort to promote the project. I would suggest continuing the model where you have to at least tweet about MSC to qualify for some.

Given how much time it took me to run the giveaway, I think it would be fair to have the person running it take a bit off the top for themselves. Maybe 10%?

If someone wants to run this, let me know. I'm a little paranoid about trusting someone with that much money. I'd probably not give it all to you at once, no matter how trustworthy you are

Any volunteers?

That's not what a MSC faucet would do. The purpose of an MSC faucet would be to preserve the long term value of MSC

Don't dampen the effect.  Let the effect play out.  If the dump and the true value is high, we all get a discount.  Buying BTC at 110 after Silk Road got busted was cool.  Selling today might be cool.  It's for the buyers and sellers to decide - not some moderator.  Why do people oppose swings?  They are needed and important.  Let free markets run and stop trying to control them.  Free trading is good, not bad.

At some point they are probably going to dump their stash. The way to dampen the effect is to distribute the coins more widely.

Oh God - why can't people just leave free markets alone?  Why do you feel the need to control and decide what other people perceive the value to be?  Free markets take care of themselves.  Idiots should get burned.  That is the way it works.  

Don't mess with free trading to make rules that artificially control the price movements.  Let the movements go as the information is processed by the masses - rather than on the information you (or one single guy) thinks is important.  

Another solution, instead of selling MSC it might be a good idea to start up a MSC faucet and give out small quantities like (random lottery amounts .1 , .2 , .3  ->.9 ) of MSC for free to people. This way the people who already purchased MSC wont suffer as much but MSC would also be distributed a bit more.

A faucet would be a great thing. I think the current price spike is mostly because more and more people are learning about Mastercoin and are afraid they could miss the boat. So it would be great if they could get their hands on a small amount of Mastercoins.

JR could set up a giveaway thread, similar to the Ripple giveaway thread. This would bring Mastecoins to the masses and would bring more attention to the project at the same time. I'd be willing to donate some of my Mastercoins to this.

the only way the price will drop is when those guys start selling their stash..

https://masterchest.info/lookupadd.aspx?address=15WrQhYhHts7jTMoGJ9rDCD12JuCTKy7MM
https://masterchest.info/lookupadd.aspx?address=196V2uB471HoMHwbkQRQRiwd3aYpU6RtWg
https://masterchest.info/lookupadd.aspx?address=1D11zSkRGnn6VMgaipqNeD2rtQfN5ywos3
https://masterchest.info/lookupadd.aspx?address=17VP7dV8dxn3pDVxrjtgPiKhs37FLBBX7u

I keep thinking that I need to find a way to throw some water on this fire before someone gets hurt, but the only way I can really do that is to sell some MSC, which I don't want to do at these prices

I hope everybody isn't buying now with the intention of selling when the distributed exchange opens. If so, that very positive news for MSC could actually be correlated with a price drop!

Be careful folks.

Is there a way to encourage a diverse group of people to buy smaller proportions of MSC? I saw Realsolid do a thing where he limited the amount of Feeshares that anyone could buy at one time. I think that is something maxmint could do to put the fire out a bit.

Another solution, instead of selling MSC it might be a good idea to start up an MSC faucet and give out small quantities like .1 or .2 or .5 MSC for free to people. This way the people who already purchased MSC wont suffer as much but MSC would also be distributed a bit more.

I keep thinking that I need to find a way to throw some water on this fire before someone gets hurt, but the only way I can really do that is to sell some MSC, which I don't want to do at these prices

I hope everybody isn't buying now with the intention of selling when the distributed exchange opens. If so, that very positive news for MSC could actually be correlated with a price drop!

Be careful folks.

I keep thinking that I need to find a way to throw some water on this fire before someone gets hurt, but the only way I can really do that is to sell some MSC, which I don't want to do at these prices

I hope everybody isn't buying now with the intention of selling when the distributed exchange opens. If so, that very positive news for MSC could actually be correlated with a price drop!

Be careful folks.

See above:

Open markets are good.  Market manipulation almost never goes well or produces the intended result.  

We don't need no water, let the mother F-er burn.  

the only way I can really do that is to sell some MSC, which I don't want to do at these prices

That was a very big mistake.  Might as well just throw 100 Euro notes in the toilet.

Now you see where I got my 2 BTC per Mastercoin price from. I calculated the total number of Mastercoins which will ever exist against the total number of Bitcoins. I also considered factors such as the chance of Bitcoins being confiscated. I think Bitcoins will be confiscated far more often than Mastercoins. There are unknown variables of course and this is still the speculation phase. Until we have a working exchange and until we see progress on the protocol itself the price I have in the sell order is based on what I believe Mastercoin will be worth just prior to a completed decentralized exchange. I'd be willing to sell for a range between 1.5 and 2 BTC per Mastercoin. Any less and I'll just wait until it the decentralized exchange is working.

Mastercoins are divisible so we can sell cheaper if we sell in smaller portions of 0.1 for instance. I don't think there will be a problem with demand if it works. I do agree right now it's in demand because a lot of people need a decentralized exchange, and a lot of people are looking at factors like the amount of development/contest resources, the level of marketing (the fact that Mastercoin has websites already says a lot about it), the particular people involved with it and their level of talent, all of that goes into setting the price.

But the value isn't the same as the price. Right now it's got no value yet because we cannot do anything with it so the price is based on a prediction of what we expect the value to be once completed. We are basically buying at these prices because we believe in the developers and in JR to follow through and meet our expectations.


After Mastercoin has value we will need a speculation thread. Right now it's too soon to create one. The time to create a speculation thread is when the first working Mastercoin client is released. Until we have a wallet which works, there is no way to predict the demand until we can figure out how many people are downloading that wallet.

The next thing to do would be to see what happens once we have a decentralized exchange with smart property. I think that will be the big coming out event.

Quick question - how the heck are MSC anonymous? In 2 words if you know (not to hijack here).
Can't understand it though I tried...