Topic: The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread - page 55. (Read 165286 times)

Since this is something that will affect all MasterProtocol users, past, present and future, this is an open request for feedback regarding which direction we have to choose on whether or not to accept BTC directly in fundraisers. The tradeoff with directly allowing Bitcoin concerns decoupling the utility of the MSC token for open walls that would probably increase utility of the actual protocol by allowing BTC-direct fundraisers.


Here's a quote on the [email protected] mailing list from Jeremy Kandeh that for the most part mirrors my own personal views:

And here's a quote from Sam Yilmaz, who is addressing the other long-term end game of the two decisions:

Thought exercises GO

You are a moron of very high order.  Your writing is complete bullshit. 

On thinly traded markets....

Mastercoin is traded on MasterXChange.com.  The volume is very, very low - a thinly traded market.  
Sellers
   Some traders there are selling Mastercoin they received as developers for the protocol.  They need money to pay their bills.  Lately, the price of MSC has been significantly driven lower.  There are plenty of 'coins' available for sale as several people counted on selling MSC to pay for their daily expenses (supply).  
Buyers
   There are very few new buyers.  In part, this is due to the fact that the Mastercoin team is fully engaged with development and totally uninterested about 'pump and dump' marketing schemes.  Mastercoin has not made any real attempt to 'attract' new participants to use the protocol but rather have concentrated on getting the protocol ready for some more serious use.  There are almost no new 'investors' (demand).  

   Because of this 'supply/demand' mismatch in this thinly traded market, the price is wildly out-of-line with the true value of Mastercoin.  Nearly all original investors remain bullish about the potential for success in this system.  People who hold Mastercoin remain very optimistic and still value their MSC quite high.  After just a few successes, the price will snap back up to a point which more closely reflects what the true believers of MasterProtocol estimate the value to be.  

   Basically, anyone selling today is selling VERY cheap Mastercoin.  They are likely getting 1/10th what 95% of MSC holders actually value the coin for.  This is due to the fact that this isn't the stock market with hundreds of thousands of participants, but rather, we are in a very thinly traded market.  People who sell at this point are getting ripped-off big time.  They are giving their MSC away cheap.  

   Those who cried when the coin was at .25 about having 'missed the boat' should remember this moment.  When MSC returns to sky high values, we are going to say you had your chance to pick them up cheap.  

   MSC is extremely cheap now.

Oh sweet tap-dancing satoshi on a pile of Bitcoin, this really takes the cake.

Talk about misunderstanding market dynamics, sigmoid-function of adoption, not  to mention the characteristics of such "volatile" trading eventually re-distributing Bitcoin to an even wider audience as it progresses, much like the diffusion of molecules in a closed environment.

A deflationary currency == volatility? Are you absolutely bonkers? That's something a misinformed Economist would spew. I'm honestly surprised its coming out of your mouth.

If that were true, then Bitcoin should be SO volatile that nobody would want to use it, even for speculation. But I suppose I shouldn't be surprised someone who is trying to bootstrap their own personal wealth pile off of Bitcoin's success has trouble connecting the dots, you're a bit too close to your own retirement nest egg, as it were.

Keep up the posts, I'm running out of popcorn, and the obvious lack of understanding by JR of anything other than an IDE is absolutely hilarious.

I am particularly worried about Ethereum as they look seriously organized (as well as MaidSafe). So far I think none of the technologies out there: Mastercoin, NXT, Counterparty have hit any sort of network effect so the playing field is quickly becoming a marathon. So I guess we see....

Mastercoin was the first horse out the gate (bitcoin 2 race).  But other horses have caught up and gaining But it's still a long way to go.

You know, honestly, why not just pay for a forum service, so that people who should be doing real mastercoin work aren't drawn into running web applications needlessly. Get something that plugs into facebook/social media, has all the bells and whisles, and then pay a snappy graphic designer to do the design and viola. Even if it's $50 a month, JR, it's totally worth it. Honestly- you should just do it and set all this bickering between people here about not getting signup emails (Still havent' received one) etc....... Good leaders know how to delegate and know when to outsource. :-)

+1 on listing OF upcoming major projects releasing MSC Tokens.

 metadex order matching looks very exiting.  Looking forward to see it work in omni wallet and master wallet.

Exactly what I'm talking about! Lets see some of these demo's- even if it's just an Adobe Voice presentation from an Ipad. Keep us hyped! :-)


Yeah. That's what people have been saying about bitcoin for years. Not saying it couldn't happen, but there are a huge number of regulatory barriers for a bank or other conventional finance instrument to do this. If they DO, they almost certainly lose the decentralization, which is losing the whole point.