Well in my opinion it is the most "efficient" marketplace currently for mastercoin (ie with the most liquidity since it is basically the only one)

So its possible to buy lower or higher if you trade elsewhere, but unless you are a professionnal you'll probably end up getting a better deal on an exchange.

Here is what I feel will happens roughly :

if (JRprice == x)
{
     masterXchangePrice = x - 10%;
}

In my humble opinion, trading OTC will impact the market more than trading quietly on an exchange.

First, all trades impact the quantities available in the same way, if you sell 1000 MSC OTC, that will always be 1000 MSC that wont be bought on the market. There is no "if you dont trade on the exchange the price will not be impacted !".
Thats an economical fallacy; the price converges to the same value everywhere and the exchange is a part of the market in the same way that the OTC is.

Second, saying that you have X quantities to sell at Y prices is much worse than trading them little by little : As long as the market expect a bigger quantity to be traded, the price will correct itself until the price discovery process is finished. Thats like bill gates announcing that he will sell 1% of MSFT the next week. What huge holders are doing is that they pay brokers to liquidate the quantities as quietly as possible on the marketplaces.

Having said all that, I will add that this is only an opinion and that its really great that JR is commiting himself to Mastercoin full time

This is all fascinating to follow in term of economic theory

Sounds not too hard, both should be done in the next release. Thanks for your feedback !

Thanks We took a lot of your previous suggestions .

For (1) : You want the pending orders at the top of the page so its easier to see the order book while setting a price right ? Seems like a good idea

(2) - Not sure what you mean by that. You want an option for an email or something when there is a trade on one of your orders ?

Hello guys,

We just want to let you know we did a couple change on the trading interface of https://masterxchange.com/

As always we welcome all feedback

Regards,

Emilien

We totally agree. Right now I was working on this screen already, adding a few things to make it clearer. I already added the order book and a few additionnals information in the development environment (how much is already pending in open orders etc.)

Thanks for the very precise description of what you would like ! We will try to do it as you requested, all your suggestions here are very good.

The color idea is very good I did not think of that

Thanks for the kind words We are trying to do everything users ask for, and what we think makes the GUI better.

There is still a ton of little things that we got to do !

Not at all. We were not awarded any bounty for creating the exchange, as there was none at this time. But hey, I still like the foundation

The foundation did however hand us a 400$ bounty for reporting an issue with the simple send, thanks to ron & his team.

I have seen Dominik do a lot of awesome communication as well, so there's that also.

Meanwhile, the price has been going from 0.2 to 0.08 back to 0.16 during the same day. Exciting times

Hello peled,

Yes thats absolutly something we are considering.

I think we painted you as a thief a bit too fast

Thank for collaborating towards a resolution. Now you are identified somewhere so that should be reassuring to people trading with you.

Emilien

I had a few phones call today with inbox which gave us a 100% verified identity, ID & proof of residency, which of course we will not disclose with anyone.

We have unfrozen his 262.71142052 MSC and put them in a new account of his choice.

There is enought reasonnable doubt that inbox was indeed good willed to trust that all this was a huge misunderstanding.

We thank him for his good willingness in the resolution of this issue and hope he will not have hard feelings.

Hello inbox,

I have trouble believing you did not knew this transaction was showing valid / invalid on different implementation :

http://mastercoin-explorer.com/transactions/75d9753917c9e1c31bf9c4151675724e62bc977e6b832edbd3f8c6c04d2eab08

You did it from yourself to yourself, were you not aware it could be an issue ?

You made the first deposit into our exchange 1 hour later.

You knew about all the different implementation, you know who is in charge of mastercoin-explorer, yet you purposedly deposited hundreds of potentially problematic mastercoins. Only after we did not credit your account since we were relying on mastercoin-explorer (which you would have no way of knowing at this point), did you warned Maran about the bug.

Also,

"they were notified that I did indeed create the fake account" => You never notified us, someone else did and after we froze this second account we discovered it was you as well (since the IP was the same).

Only after we did the first batch of withdrawals where we froze yours & your second account did you actually told us that you are "glad that we found about the duped 300 msc"

This could still a misunderstanding after all. We just do not want to rush anything, and we will maybe ask a third party for resolution once we have reconstructed the whole timeframe.

We ask for your personnal identification. We wont share it. (ID card, proof of residency, and some kind of proof that those are indeed yours)

Had we not both caught onto you and having manual withdrawals, you could have withdrawned hundreds of fake MSC, if of course you were having ill intentions.

Regarding your act of goodwill of warning Maran about the bug, I would be tempted to say that someone malicious & smart that wanted to have a good backstory would have done exactly as you did. Then again, the only way to have definite proof that you wanted to steal from us would have been to let you steal mastercoins.

Had you simply use a couple mastercoins for the second "test", or not use a second account, or not have an anonymous identity, we would never have thought that you could had ill intents. If you indeed were good willed, then I'll suggest in the future you act in a more straightforward way since it can be easilly confused with tentative of theft.

Also, if we ever get to "confiscate" your mastercoins, we will find a way to give them back to the community.

And saying all that, I am not even starting on the fact that you created an "admin" account and searched for a hypothetical admin page.

We are not insolvent and have all customers funds - including yours.

Hello,

I am the co founder of masterxchange.com . I wont comment about mastercoin itself, just about the concerns about the exchange :

- Mastercoin is very hard to integrate since it is fondamentally different than most alt coin. There is not a simple "modified bitcoind" that you just have to launch and everything is done. Its probably why there is no exchange other than us right now integrating it.

If someone is making the 4324th altcoin which is just another bitcoind recompiled, of course it can be pretty instant to integrate for any exchange already handling bitcoins.

- We have no links with the mastercoins fondation whatsoever. In fact, we did not even get a bounty for it or any award. We just decided on our own it would be a cool project and maybe a good way to start into the exchange business.

As for myself, I do not even own any mastercoin except the 0.xx I got from trading fees on the exchange.

I dont see why there is a particular focus on Mastercoin and NXT. There are lots of coins which were mined within a few days (If i am correct, I even think that the very sucessfull dogecoin has a very very fast mining algorithm).

All the values of all the coins derives also because people are hoarding them, hence only a very small subset of the coins is actively traded and this can create huge values without the corresponding fiat amounts in the system. But keep in mind this is true for ANY asset. Gold is so expensive for example because so many people store it as a mean of value.

Finally, there is others means of trading mastercoins (self service exchange, forum trades, direct reseller) and the price we have is reflecting the previous price, slightly higher maybe because of the current buzz.

Our exchange is public, anyone can verify the trading data for himself.

Regards,

Emilien

Great ! Keep up the good work !

Oh thats awesome

Thanks Patel I could say myself we are legit but since I am one of the founders ;p

We launched ~3 days ago, and manual trading systems are still quite active with mastercoins.

Right now there is really few trade the order book is still just building up.

Hello,

We are the first exchange for Mastercoin (the "on top of bitcoin" altcoin), www.masterxchange.com, which by capitalisation is currently around the 5th coin

We have made a JSON API that retrieves prices & trades :

https://masterxchange.com/api/trades.php returns the 500 last trades
https://masterxchange.com/api/orderbook.php returns the 500 best ask orders and the 500 best bid orders
https://masterxchange.com/api/supply.php return the total number of mastercoins in existence

Hope this is enough for you to include us on your site. If you need additional data or options please let me know.

Regards,

Emilien

Yes, this is a real transaction. The market is really illiquid however so it does not mean much.