MaidSafeCoin now listed in the top ten at http://coinmarketcap.com/

Congrats Graz!

I've been using the masterchain.info wallet to do simple sends and I'm happy with the results.

I'm confused about these new currencies though.  Are they implemented as master protocol user-currencies or
something else?   I have no idea what a meta-chain or a nested chain is.

Also, do you have any plans to support trading of MaidSafe coins now that the crowdsale has finished?

They were offering 23,800 per bitcoin during the crowdsale.  (17,000 + 40% bonus)

Actually, it looks like masterchain.info is beyond beta now.
So can we not get them to add maidsafe?
They're already handling a bunch of master protocol currencies.
https://masterchain.info/Currencies.html

Yes. Your Maidsafe will be tansfered to the address you sent from in your Bitcoin QT wallet.

http://www.safecoin.io/ gives you 2 places to look to see your balance.

They've processed 512 out of about 1800 total transfers.

I wonder if masterchain.info (web wallet) will be implementing MaidSafe support soon.
Their wallet works fine for simple sends with Mastercoin.  Would it not be trivial to add MaidSafe to it?
They are in beta at least.

https://masterchest.info

If you paid with MSC then they should show up.

If you paid BTC then they are working on transferring the MaidSafeCoins but only a small fraction have been done so far.

Omniwallet is still in alpha testing.  They only do MSC/TSMC/BTC at the moment from what I can see.

https://test.omniwallet.org/

This just in ..appears to be an official press release from MaidSafe

http://launch.it/launch/maidsafe-sells-6-million-of-bitcoin-20-software-in-five-hours

https://masterchest.info/ is working now.

If you sent MSC then your MaidSafe balance should show up.

If you sent BTC then it may take a while to show up.
I think they said 24-48 hours for the BTC to be converted.

Looking at MaidSafe exodus address on blockchain.info

https://blockchain.info/address/1ARjWDkZ7kT9fwjPrjcQyvbXDkEySzKHwu

It shows the folowing warning:

"Warning! this bitcoin address contains transactions which may be double spends. You should be extremely careful when trusting any transactions to or from this address."

What's up with that?

edit:  I just refreshed the page, now the warning is gone.

The MaidSafe Foundation would be in charge of distributing the 15% according to the white paper ...
https://github.com/maidsafe/Whitepapers/blob/master/Project-Safe.md

I'm not clear if the 15% is taken out of farmers' earnings.
It could be created separately based on the total amount farmed on the network. ??

edit: typo

If only half are sold the other half will be burned.
That would still be a successful sale I think.

My incorrect assumption is quoted in the previous post but JR has already cleared this up.


So the SafeCoins (or MaidSafeCoins) will arrive back at the address from which you sent the bitcoin.
You will then be able to see your balance with any of the Mastercoin wallets. This assumes the wallet handles currency ID other than Mastercoin.

edit: clarity/grammar

Whether there's bitcoin in them or not, everybody is going to want one of these!

Dev update regarding safecoin etc.:

http://blog.mastercoin.org/2014/04/11/dev-update-13-first-user-currencies-scheduled/#more-677

Side chains could be merge-mined with Bitcoin according to the Coindesk article...
http://www.coindesk.com/bitcoin-core-developers-bitcoin-side-chains/


If there is a competitive advantage to using a side chain then Mastercoin could always switch from the Bitcoin
blockchain to a side chain.
 
Actually it wouldn't have to be a side-chain.  It could be an alt-coin chain or some other 2.0 chain.

http://wiki.mastercoin.org/index.php/FAQ#Does_the_Master_Protocol_need_the_Bitcoin_network_to_operate.3F

Ah, I see.  I didn't know user currency was so close to being released.
The first Mastercoin-derived currency being worth millions of dollars would be huge!

They say in the white paper that they are aiming to raise about 8 million USD.
There is no mention of 100 million or a billion but each to his own math.

Below is an excerpt from https://github.com/maidsafe/Whitepapers/blob/master/Project-Safe.md

7. SAFE Crowd Sale

The crowd sale will be operated as follows:

A fixed number of MaidSafeCoin will be issued during the crowd sale

The sale will last until all coins have been purchased (circa $8million) or 30 days has passed, whatever happens first

Within that period, public funds in the form of bitcoin and mastercoin can be sent to exodus bitcoin address via www.BuySafeCoins.com

Each participant will purchase an intermediary coin, MaidSafeCoin

A quantity of 429,496,729 coins will be available for purchase, this equates to 10% of all safecoins

Early buyer incentives are in place to reward early participation (see chart below)

It is estimated that participants will purchase 17,000 MaidSafeCoins for 1 bitcoin

All purchases and transctions will be recorded on the Bitcoin block chain via the Mastercoin protocol

The deposit of funds in the exodus address will auto generate the appropriate level of MaidSafeCoins, they will be reciepted in the participants mastercoin wallet

Once the full network is launched these will be traded on a 1:1 basis for safecoin

Each participants safecoin wallet will be credited as the full network is launched and they create their SAFE network accounts

In the event that not all coins are sold, the remaining coins will be burned

All details are available at www.safecoin.io

</excerpt>

How could the MaidSafeCoin be recorded via the Mastercoin protocol?  There is no 'user currency' feature yet.
Instead they are using a Mastercoin-style fundraiser.  They are going to announce their 'exodus address' on 22-April.
There will apparently be a separate 'exodus address' if you wish to send Mastercoin instead of bitcoin.