Bitcoin Forum
October 20, 2017, 12:21:39 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: « 1 ... 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 [83] 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 ... 167 »
  Print  
Author Topic: MasterCoin Buyer/Seller Thread  (Read 222056 times)
zbx
Member
**
Offline Offline

Activity: 64


View Profile
November 22, 2013, 04:49:14 PM
 #1641

Please include my bid in the order book:
Will buy 8 MSC for .68 BTC (.085 each)

Order book updated.

Want to buy 100 MSC for 0.16
please add to the order book
Please change my sell offer in the order book to 100 MSC @ .16 BTC each.

Added to the order book – could you two please try to close a deal.

Sorry, I might have said, but bitthedust told me that he found another seller.
The block chain is the main innovation of Bitcoin. It is the first distributed timestamping system.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Tomatocage
Legendary
*
Offline Offline

Activity: 1526

brb keeping up with the Kardashians


View Profile
November 22, 2013, 05:24:41 PM
 #1642

Lot of brand-new users suddenly trading this thing. As always, use escrow!

THIS SPOT FOR RENT* | GPG ID: 4880D85C | 1% Escrow | 8% IPO/ICO Escrow services Temporarily Closed | Bitcointalk is the ONLY place where I use this name (No Skype/IRC/YIM/AIM/etc) | 13CsmTqGNwvFXb7tD9yFvJcEYCDTB8wQTS | Beware of these SCAM sites! | *Sponsored Link
littleblue
Sr. Member
****
Offline Offline

Activity: 286


View Profile
November 22, 2013, 05:37:49 PM
 #1643

Lot of brand-new users suddenly trading this thing. As always, use escrow!
+1
dacoinminster
Legendary
*
Offline Offline

Activity: 1162


Rational Exuberance


View Profile WWW
November 22, 2013, 06:06:51 PM
 #1644

All you crazy speculators should pay close attention to this idea I just posted:

I think perhaps it is time to convert more of our BTC to MSC. I'd rather have MSC in a rainy day fund than BTC anyway. As you say, giving away BTC attacts people more interested in BTC, and I'd rather the foundation hold MSC than BTC.

Here's my crazy proposal:

1) Keep only the 1000 BTC we've already moved into offline wallets
2) Use the remainder of our BTC to purchase MSC over the next few months on the distributed exchange
3) Pay all future bounties exclusively in MSC
4) Keep half of our MSC money for a rainy day and/or future distributed bounty system
5) If our rainy day fund becomes excessive, we can always vote to lower the ratio later

I realize that this would potentially make all of our existing investors absurdly wealthy, but, well, the stated purpose of the Mastercoin Foundation is to serve the holders of Mastercoins, and I'm having a hard time seeing this course of action as anything but a huge positive for them, as long as we do it transparently and over a long enough period of time that nobody who wants to sell to us is left out.

Also, MSC prices would probably go up to the point where I'd sell 1% and quit my job to work on MSC, which I hope would also be in the best interests of our investors. Smiley



No promises Smiley

littleblue
Sr. Member
****
Offline Offline

Activity: 286


View Profile
November 22, 2013, 06:30:51 PM
 #1645

All you crazy speculators should pay close attention to this idea I just posted:

I think perhaps it is time to convert more of our BTC to MSC. I'd rather have MSC in a rainy day fund than BTC anyway. As you say, giving away BTC attacts people more interested in BTC, and I'd rather the foundation hold MSC than BTC.

Here's my crazy proposal:

1) Keep only the 1000 BTC we've already moved into offline wallets
2) Use the remainder of our BTC to purchase MSC over the next few months on the distributed exchange
3) Pay all future bounties exclusively in MSC
4) Keep half of our MSC money for a rainy day and/or future distributed bounty system
5) If our rainy day fund becomes excessive, we can always vote to lower the ratio later

I realize that this would potentially make all of our existing investors absurdly wealthy, but, well, the stated purpose of the Mastercoin Foundation is to serve the holders of Mastercoins, and I'm having a hard time seeing this course of action as anything but a huge positive for them, as long as we do it transparently and over a long enough period of time that nobody who wants to sell to us is left out.

Also, MSC prices would probably go up to the point where I'd sell 1% and quit my job to work on MSC, which I hope would also be in the best interests of our investors. Smiley



No promises Smiley
OMG!
dacoinminster
Legendary
*
Offline Offline

Activity: 1162


Rational Exuberance


View Profile WWW
November 22, 2013, 06:48:23 PM
 #1646

Whenever I correspond with people about what I plan to do with my MSC, I like to post my comments here for transparency. I've removed the name and email address of the person who emailed me below:

Quote
Hi ----,

Wow, thanks for the very long and detailed email! I'm glad you are concerned about the health of the project.

I'm happy with my stake in MSC, and have no plans to significantly reduce that stake in the near future. It is only with great pain and out of necessity that I contemplate selling a tiny amount at 0.7.

As you say, I could potentially dump a huge chunk of MSC on the market and crash the price to zero, but that would not be in my self-interest, and I don't think anybody need worry about my behaving irrationally in that way. 30% is actually not a very large stake for the founder of a startup, and I consider my stake a very, very long term investment.

If my stake was over 50%, I would agree that it wasn't healthy, especially considering that we are moving towards proof-of-stake voting for important decisions.

I eventually will be forced to sell more and more MSC for diversification and physical security and living expenses, but I plan to do so only out of necessity for those purposes. The success of Mastercoin has been a dream come true for me, and I intend ride it out. Frankly, even if MSC became a failing project somehow, I'd have a hard time abandoning it. I'd probably just go down with the ship Smiley

Sorry if that's not what you were hoping to hear!

Thanks,

-J.R.



Quote
On Thu, Nov 21, 2013 at 11:13 PM, ----<----------@gmail.com> wrote:

    Hi J.R.,

    I am an investor in Mastercoin, and have been following the Mastercoin
    threads and developments on Bitcointalk closely. The following post,
    by user zbx, on the Buyer/Seller thread expressed a concern that I too
    have:

    "If and only if you think that the price is too high right now, you
    should sell some of your Mastercoins (and undercut our asks). And
    though it would be bad for the price in the short term, it's very bad
    for the MSC economy, in the long term, for one person to hold so many.
    Kill two birds with one stone."

    You never responded to zbx's post, and as a result, I am writing to
    encourage you to start selling your Mastercoins.

    Your current Mastercoin holdings, amounting to 30% of all Mastercoins,
    will harm the Mastercoin project for both pyschological and strictly
    economic reasons. Regarding the latter, the most obvious problem is
    that you control the price of Mastercoin. As long as you hold
    approximately one-third of all Mastercoins, you are distorting the
    supply-and-demand of the latter. Your plan to sell 1% of your total
    holdings when the exchange rate is .7BTC/MSC will not necessarily help
    matters. First of all, 1% is not enough. Second, the price of
    Mastercoin and its value as a financial platform are not necessarily
    correlated. It is possible, for example, that the price will rise to
    .7 during a speculative bubble, and that you will either feed the
    bubble or pop it by adding your Mastercoins to the economy at such a
    point. Even if you perceived the bubble, you couldn't tell the
    community, as you could easily induce a panic and make the crash more
    severe than it would have been otherwise, and you would be forced to
    sell, as you have already made a public statement saying you would do
    so. It is irresponsible to let the *price* of Mastercoin determine
    when and how much you start selling; rather, you must carefully
    consider the total state of the project, and must do so dynamically,
    not once and for all.

    Within Mastercoin, then, you are almost a benevolent dictator, which
    is a precarious position, especially within the Bitcoin community. I
    am worried that you may have lost sight of the precariousness of your
    position because the current tenor on the Mastercoin threads is much
    less skeptical than it was in August. From what I've read on the forum
    threads, it seems that at this stage of Mastercoin's adoption, the
    initial nay-sayers have already decided not to invest, while those who
    are now showing interest in Mastercoin are manifestly less skeptical
    both of your position within the project and the project itself. It is
    important to recgonize that this constituency is unrepresentative of
    the future Mastercoin adopters; we are at a unique point in
    Mastercoin's history. People will continue to take issue with the
    amount of power you have within the Mastercoin community, and that
    just because you and I believe in your trustworthiness, that doesn't
    mean everyone will - nor should they! They are investors, not friends.
    You will have to prove your trustworthiness over and over again. Such
    a state of affairs is unacceptable and moreover unsustainable; your
    power within the Mastercoin cannot constantly hover as a specter
    around the Mastercoin community.

    It will only be a matter of time before investors realize there is no
    reason for you to have so much power over Mastercoin, and I believe
    you will continually be asked, for the good of the project, to lessen
    your stake. This will not only be a request, but a challenge; the
    community will be testing you to see whether you are willing to put
    Mastercoin's needs ahead of your own. The more successful Mastercoin
    is, the more you will be asked to sell many of your Mastercoins. If
    you start selling your Mastercoins before there is general pressure
    from the community to do so, it will be clear that you are willing to
    sacrifice significant personal gains to the success of the project,
    without being pressured to do so. And if you lay out your reasons for
    selling your shares, emphasizing and explaining the positive effect it
    will have on the economy, investors will be reassured of your
    understanding of financial systems.

    You repeatedly say in your forum posts that the biggest threat to
    Mastercoin's success is that someone else will create something
    better. Aside from any technical improvements that can be made upon
    the Mastercoin protocol, the creator of another protocol may own a
    much smaller percentage of the currency than you do, which while
    perhaps in itself is not enough to have people switch from Mastercoin
    to another protocol, will not help. In any case, it seems
    irresponsible not to address such a gratuitous problem.

    It seems to me that you are not only overly concerned about the
    symbolic value of selling or continuing to hold your Mastercoins, but
    fundamentally misinterpret how your holdings look to others. Firstly,
    if you refuse to start selling you Mastercoins, and hurt the project
    thereby, other Mastercoin investors will not thank you for your
    symbolic act of commitment. Secondly, your unwillingness to start
    selling your Mastercoins does not, in my view, betray your commitment
    to the project, but rather makes you seem greedy. At the time that I
    am writing this, the total valuation of Mastercoin is over $70
    million, which makes your holdings worth over $20 million. You have
    recently written that you will sell 1% of your Mastercoin at
    .7BTC/MSC, at which point your holdings will be worth over $90
    million. It may well be asked, who needs so much money for reasons
    other than greed? It is true that what you do with your money is not
    other people's business, but since you have consistently published
    details of your personal life and wealth, the question will arise, and
    will become more and more pressing as the value of Mastercoin
    increases.

    It was a mistake to have bought so many Mastercoins initially, and it
    will be quite difficult for you to backtrack effectively.

    As an investor, I am very anxious to hear your response.

    Thanks,
    ----

klee
Legendary
*
Offline Offline

Activity: 1470



View Profile
November 22, 2013, 07:16:24 PM
 #1647

Why now? WHY NOW??? I wanted to buy!!!
Damn...

 Cheesy Grin Cheesy
 Tongue Roll Eyes Tongue

Rampion
Legendary
*
Offline Offline

Activity: 1106


View Profile
November 22, 2013, 07:27:51 PM
 #1648

All you crazy speculators should pay close attention to this idea I just posted:

I think perhaps it is time to convert more of our BTC to MSC. I'd rather have MSC in a rainy day fund than BTC anyway. As you say, giving away BTC attacts people more interested in BTC, and I'd rather the foundation hold MSC than BTC.

Here's my crazy proposal:

1) Keep only the 1000 BTC we've already moved into offline wallets
2) Use the remainder of our BTC to purchase MSC over the next few months on the distributed exchange
3) Pay all future bounties exclusively in MSC
4) Keep half of our MSC money for a rainy day and/or future distributed bounty system
5) If our rainy day fund becomes excessive, we can always vote to lower the ratio later

I realize that this would potentially make all of our existing investors absurdly wealthy, but, well, the stated purpose of the Mastercoin Foundation is to serve the holders of Mastercoins, and I'm having a hard time seeing this course of action as anything but a huge positive for them, as long as we do it transparently and over a long enough period of time that nobody who wants to sell to us is left out.

Also, MSC prices would probably go up to the point where I'd sell 1% and quit my job to work on MSC, which I hope would also be in the best interests of our investors. Smiley



No promises Smiley

That's a hell of a "pump"

dacoinminster
Legendary
*
Offline Offline

Activity: 1162


Rational Exuberance


View Profile WWW
November 22, 2013, 07:39:24 PM
 #1649

That's a hell of a "pump"

Well, Mastercoin is more useful to the Mastercoin Foundation than bitcoin is. This is exactly like a company doing a stock buy-back rather than paying dividends. Plenty of precedent.

zbx
Member
**
Offline Offline

Activity: 64


View Profile
November 22, 2013, 07:40:22 PM
 #1650

Please remove my sell offer from the order book. Thank you.
Rampion
Legendary
*
Offline Offline

Activity: 1106


View Profile
November 22, 2013, 07:46:28 PM
 #1651

That's a hell of a "pump"

Well, Mastercoin is more useful to the Mastercoin Foundation than bitcoin is. This is exactly like a company doing a stock buy-back rather than paying dividends. Plenty of precedent.

I won't argue that, keep it coming Wink

If that can take you to be full-time to MSC I'm happy with it.

dacoinminster
Legendary
*
Offline Offline

Activity: 1162


Rational Exuberance


View Profile WWW
November 22, 2013, 07:50:26 PM
 #1652

I won't argue that, keep it coming Wink

If that can take you to be full-time to MSC I'm happy with it.

Again, no promises. The board would have to agree, and I'm not sure I can convince them. I'll do my best, because I really think this is best for our investors.

klee
Legendary
*
Offline Offline

Activity: 1470



View Profile
November 22, 2013, 07:54:17 PM
 #1653

I won't argue that, keep it coming Wink

If that can take you to be full-time to MSC I'm happy with it.

Again, no promises. The board would have to agree, and I'm not sure I can convince them. I'll do my best, because I really think this is best for our investors.
Start +1's

dacoinminster
Legendary
*
Offline Offline

Activity: 1162


Rational Exuberance


View Profile WWW
November 22, 2013, 07:57:47 PM
 #1654

I won't argue that, keep it coming Wink

If that can take you to be full-time to MSC I'm happy with it.

Again, no promises. The board would have to agree, and I'm not sure I can convince them. I'll do my best, because I really think this is best for our investors.
Start +1's

Please put your +1s on this thread: https://bitcointalk.org/index.php?topic=342431.msg3676971#msg3676971

That's the thread David started, and I know he's watching it closely. We need to convince the board that:

1) It's not market manipulation, it's a stock buy-back over a long period of time, with complete transparency
2) It doesn't make MSC more centralized, because we'll be giving this money away in bounties rather quickly

hookercookerman
Newbie
*
Offline Offline

Activity: 9


View Profile
November 22, 2013, 08:35:13 PM
 #1655

Please remove my sell offer 114 @ 0.15 thanks again Smiley
Pouncer
Sr. Member
****
Offline Offline

Activity: 252



View Profile
November 22, 2013, 10:01:12 PM
 #1656

Order book updated.

Please remove my sell offer 114 @ 0.15 thanks again Smiley

Please remove my sell offer from the order book. Thank you.

NXTtechdevfund  GPG Key ID: 0x903BC112
hmmmstrange
Hero Member
*****
Offline Offline

Activity: 669


View Profile
November 23, 2013, 12:17:58 AM
 #1657

Quote
 It was a mistake to have bought so many Mastercoins initially, and it will be quite difficult for you to backtrack effectively

This. And frankly, you shouldn't have had the multiplier/early adopter bonus applied to your MSC. There are some major questions of ethics that will arise as this project progresses. This deserves deep thought by anyone considering investing and J.R. in particular. I say this as an initial and current investor of MSC.

I disagree with professorhandsome completely.
dacoinminster
Legendary
*
Offline Offline

Activity: 1162


Rational Exuberance


View Profile WWW
November 23, 2013, 01:21:34 AM
 #1658

I would never have started this project if I couldn't also invest in it. Maybe somebody else would have, but not me. I invested early both to collect a bigger share of the pie from the early adopter bonus, and to show that I was serious. (Note that the early adopter bonus was NOT about risk, it was about momentum).

In 2011, right after bitcoin exploded up to $5 each, and everybody was having heart attacks saying it couldn't last, I predicted that the world's first trillionaire would come out of something like bitcoin ("Bitcoin price increases are just getting started": https://bitcointalk.org/?topic=7985.0), and because of that fervent belief I never sold a single bitcoin (except to pay my mining expenses), despite 90% drops along the way. I would be incredibly wealthy right now, but I only ever invested $200 in my bitcoin mining scheme. I really wanted to go all in, but I didn't, because my wife thought I was crazy (she still does, actually).

I think something like Mastercoin has a pretty good shot at reaching a market cap well in the trillions of dollars. I don't particularly want to be a trillionaire, but if it isn't me it will be somebody else, and I'm frankly afraid of what somebody else would do with all that money, so I'm not stepping back from the opportunity either.

Trillions of dollars for MSC is still a long LONG ways off, and it is certainly possible that one of our competitors will crush us, but I have my eyes on the horizon. I'm playing a VERY long game here, as I have since 2011. Are you guys?

codyave
Newbie
*
Offline Offline

Activity: 29


View Profile
November 23, 2013, 02:41:47 AM
 #1659

Quote
I invested early both to collect a bigger share of the pie from the early adopter bonus,

well, you have mentioned in this thread or another that you aren't one to pass up a good deal. Wink

i do agree about the adopter bonus, though. someone's gotta be the first to jump off the bridge to make sure it's safe.
thebtcthe
Newbie
*
Offline Offline

Activity: 8


View Profile
November 23, 2013, 03:16:21 AM
 #1660

Hi, I am interested in getting some Mastercoins. Contact me if you are selling with your price.
Pages: « 1 ... 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 [83] 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 ... 167 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!