If we had 100 more guys like you with energy and good attitude - and each started building a very cool tool - there'd still be 9,900 more things to be built. There are loads of things to make. Don't get discouraged that you managed to stir nothing but backlash in the beginning. That just made you WAY smarter for your next project. Now, quit fucking around on the internet and get back to work.
Thanks sir  |
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Can't you please go work on one of these? The community loves your participation - but you'll be slaughtered in an instant if you prove your system is valuable before announcing how much money you'll be taking from people.
I suppose you meant it the other way  |
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There is a bounty for an exchange, which we did not even get. We did all this work without touching one of the numerous bounties.
You did 'all this work' - because you see a profit from fees. And here you speak as if you did it from an altruistic point of view. WTF? If you fee based business model doesn't pan out, you aren't going to get credit for 'helping' us out. Your exorbitant fee model wasn't found to be appealing to users. That is all. Exactly. I meant that since we were not awarded a bounty, it felt legitimate to reward ourselves with fee. Thanks for your suggestions. |
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Hello professor handsome.
We discovered mastercoins 4 weeks ago, fell in love with the concept decided to do something with it and try to participate in the community. We saw a need for an exchange that only felt logical to fill.
The trading volume on mastercoin right now is almost non existent, either on our exchange or outside of it. Still, we'll now offer a fee that is only slighty higher than mtgox or other exchanges, for a currency where we do not have any competitor in the space, but for a volume almost non existent.
There is a bounty for an exchange, which we did not even get. We did all this work without touching one of the numerous bounties.
On top of that, the main feature that will be developed is a distributed exchange which if working as expected, will almost be the end of our business.
There is no official client, so we risk missing a transaction at any time or having a bug on the transaction. We were sick to see the users comments and tried to do our best to answer them.
And we'll keep doing that.
Maybe we were completly inexperienced in setting up fees, we corrected that in 48h. We worked very very hard for weeks putting our experience and our sweat in this project.
Now if you still feel we are asshole money grabber, fine. I am not gonna argue more than that, but at least I would have tried once.
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Besides - What the hell is this column? "Sum (msc)" I can't figure how that adds up. Your order book doesn't even make sense to me. For sure I would not attempt a trade on that site. Here is a proper order book: http://mcoin.io/#/ Note the column headers. Note the data actually adds up to the amounts cited in common rows. Thanks, we'll change it. The way we list our order book actually is the same as : http://bitcoin.clarkmoody.com/ |
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Regarding the payment without miner fee, this is done automatically by the official client. This is not something we designed on purpose - we just send the payment and if the coin age is enough, there is no fee.
Then add a fee to your client settings, but sending payments without fees is ridiculous. Its been like 5 or 6 blocks already and its still unconfirmed. Duly noted |
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Hello Patel,
Thanks for your constructive feedback, all your inputs will be taken into accounts. This is really great that you are taking the time to explicity point all the things you are disatisfied with.
We agree there is a lot of stuff we must be working on. We released it maybe too early but it allowed us to get all this user feedback, and we thank everyone who commented. We take negative feedback as a way to improve our service and we will discuss them as soon as we get a chance. I cant make any decision on my own so you can understand that I wont annonce anything specific.
We did not have time to discuss all the concerns within our team as I am away from the office.
Most of the points you were disapointed with are issues we can work on so we'll keep you updated if we manage to resolve them in the upcoming days.
Regarding the payment without miner fee, this is done automatically by the official client. This is not something we designed on purpose - we just send the payment and if the coin age is enough, there is no fee.
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I joined the group but I do not see how I can post my link Edit : Ok I have to wait for approval FB always making life easy, no way to turn that feature off... So btw there is an open bounty for an exchange https://trello.com/c/jE5MdzpWtechnically it was for an existing exchange, but go ahead and email info(a]mastercoin.org and maybe Ron can reconsider the terms of that bounty, or ask you to do some more stuff to get this bounty. I know it's not a huge amount but perhaps it will pay for free hosting for a year. Thanks, we will give it a try ! |
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I joined the group but I do not see how I can post my link Edit : Ok I have to wait for approval |
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Thank you sir Patel ! Congrats on creating the first sell order There is still a lot of work to do on the user interface and there is still probably a few bugs and glitche in the interface, but the trading engine should be really stable i want to write about you guys on the blog, but as there is no information about who you are or any type of legal entity behind this I am hesitant, especially after the drama with buymastercoins. no disrespect is intended, i am just a very careful person and that care extends to my communications, which is why i replaced the link to buymastercoin last week on the website to go to the wiki instead. as an aside i was very skeptical of sheep marketplace, told my friends to avoid it and was proven right... would you be willing to publish some kind of information? i think it is only fair if you are asking for people's business and collecting fees.  glad to see the site up!! Sure, we could give you our facebook linked to our real life indentities, proof that we own btcoracle.com, etc. etc. Just ask. Well I can state it my name is Emilien Dutang / 33 / France. There might be some stuff on me around on the internet, not sure if much of it is relevant thought. If someone has any doubt that its me I can facebook share or whatever. Anybody that has gone to a bitcoin meetup in Paris might have seen me. I was also at amsterdam, londres.. I am very willing to meet any mastercoin users that comes into Paris around a meal. Legal is a grey aera, lets just say if the business gets really sucessfull we will do whatever is needed to be legally protected from any authority. We're not there yet. We are actually working with legal authority for some other business but france legislation is very very conservative |
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Thank you sir Patel ! Congrats on creating the first sell order There is still a lot of work to do on the user interface and there is still probably a few bugs and glitche in the interface, but the trading engine should be really stable |
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I would recommend changing the logo to link to the homepage and not the mastercoin.org site.
Done. |
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We worked very hard for several weeks to launch in beta the first mastercoin real exchange : https://masterxchange.com/We are open to all suggestions and remarks ! 2% trade fee and 0.01 to 0.02 withdrawal fee? Exhorbitant much. Our exchange is a temporary solution waiting for the distributed exchange. As such, we don't know how long our service will be used. Also, we will probably do lower fees for frequent traders. We might lower fees at a later time anyway |
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We worked very hard for several weeks to launch in beta the first mastercoin real exchange : https://masterxchange.com/We are open to all suggestions and remarks ! Hmm it looks good. Trust is the main factor here. 0.01btc/0.02btc to withdraw? don't you think its a little too high? Yes it might be. - Mastercoins transactions are done manually since there is no official mastercoin client. As such, they are highly risky and time consuming. Since we don't want to be flooded with small withdrawals, we need this limit to be able to process all withdrawals. Once everything will be automated and we are confident our system is 100% secure we will be able to lower this limitation. So far it is also a security issue : We store most of the funds offline so it take times to withdraw them. We are really obsessively paranoid in our security mesures but of course nobody should trust us blindly. There is not even any exploitable wallet on the production environement. We don't really have a proof except that we have computer security background and that no ones has managed to steal any amounts of coins from our previous business btcoracle.com |
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We worked very hard for several weeks to launch in beta the first mastercoin real exchange : https://masterxchange.com/We are open to all suggestions and remarks ! |
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That's great DarkEmi, let me know if I might help you in any way.
Thanks, everything is roughly done so we are in heavy testing mode right now. We hope to release tomorrow but you never know ;-) |
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I think one of the root of the problem is that they are advertisted by the official mastercoin.org website, and thus seems like they are the "official" solution to buy mastercoins.
Personnally I have been pretty shocked when first studying mastercoin to see that the official ressources were advertising for a website that was selling at *4 the price, and it gave me a bad first perspective on mastercoin.
I am really excited on the state of mastercoin development and all the upcoming feature, but this does not shine very well.
Disclaimer, I will be launching a concurrent business. But my insatisfaction with the existing one is part of the reason we are doing it.
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I suppose you've already done some Mastercoin transaction yourself. As it is somehow experimental right now, we do not want to rush a tool for automated transactions in mastercoins and would rather wait for an official command line tool instead.
regarding bitcoins, we will try & automate once we are 100% confident in the robustness of our product. thanks for your suggestions.
Deposit should be pretty fast however as this pose absolutly no security issue. Deposits should be registered as soon as they are confirmed in the blockchain.
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Well we'll evolve the website after the launch. We'll probably automate small bitcoin withdrawals at a later date.
I do not really see what we could do with the user funds, even if we wanted.
The "rehypothecation" opportunity does not seem like an opportunity to us, why would we ever want to use customers funds ? It is not ours in the first place and the fee should already provide us with an income.
But in any case, your suggestion is noted and we will try to do it once we get the chance.
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