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Author Topic: MasterCoin Buyer/Seller Thread  (Read 225165 times)
freebird
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November 27, 2013, 11:02:41 PM
 #1801

when i want to show MSC trades on cryptocoincharts.info
is this a good starting point? http://mastercoin-explorer.com/api_docs
Trading is still done manually until the decentralized exchange is working, so you won't get a meaningful price from the API yet.
The first row of the order book shows the last traded price, maybe you can read that data somehow?

Is there any website with a chart of mastercoin prices since inception of this currency? Thanks.

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
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November 27, 2013, 11:23:04 PM
 #1802

when i want to show MSC trades on cryptocoincharts.info
is this a good starting point? http://mastercoin-explorer.com/api_docs
Trading is still done manually until the decentralized exchange is working, so you won't get a meaningful price from the API yet.
The first row of the order book shows the last traded price, maybe you can read that data somehow?

Is there any website with a chart of mastercoin prices since inception of this currency? Thanks.

There are no automated exchanges trading Mastercoins yet. The closest chart of historical trades is the ones compiled by escrow agents doing manual trading. You can see the chart here, and the trading history here

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freebird
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November 27, 2013, 11:28:51 PM
 #1803

when i want to show MSC trades on cryptocoincharts.info
is this a good starting point? http://mastercoin-explorer.com/api_docs
Trading is still done manually until the decentralized exchange is working, so you won't get a meaningful price from the API yet.
The first row of the order book shows the last traded price, maybe you can read that data somehow?

Is there any website with a chart of mastercoin prices since inception of this currency? Thanks.

There are no automated exchanges trading Mastercoins yet. The closest chart of historical trades is the ones compiled by escrow agents doing manual trading. You can see the chart here, and the trading history here

Thanks. The thing that perplexes me about Mastercoin is that its price is so high relative to other altcoins, yet it's not even traded on exchanges yet. Doesn't seem to have much room to grow, unless people expect it to become worth 1 BTC or above. Thoughts?

Edit: I'm not trying to criticize Mastercoin, just to understand it. Is the intention that Mastercoin will become the new standard version of Bitcoin, i.e. that its features will be incorporated into Bitcoin itself? And if so, would the price of 1 MSC and 1 BTC be expected to equalize when that happens? Sorry if my questions sound dumb, but the Mastercoin concept seems a lot more complex than altcoins and I'm genuinely trying to learn. Thanks!

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
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November 27, 2013, 11:34:24 PM
 #1804


Ain't he though? Maxmint + Pouncer is faster than Gox's trading engine. Do we even need a DEx?

Not an Alt-Coin: Mastercoin! A new protocol layer on top of bitcoin.
TomHirsch
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November 28, 2013, 12:07:48 AM
 #1805

The thing that perplexes me about Mastercoin....
You are certainly perplexed.

its price is so high relative to other altcoins,
this is the reason you are perplexed.  

Doesn't seem to have much room to grow, unless people expect it to become worth 1 BTC or above.
Mastercoin IS bitcoin - but on steroids.  It is not an alternative coin.  

Is the intention that Mastercoin will become the new standard version of Bitcoin
No.  That implies that Mastercoin should 'replace' bitcoin.  Mastercoin does not.  Mastercoin simply operates in conjunction with bitcion.  It doesn't replace or 'better' bitcoin at all.  Bitcoin stands alone.  Mastercoin helps it be better.

1 MSC and 1 BTC be expected to equalize when that happens?
Probably not.  MSC will be a better more versatile vehicle than bitcoin which is merely a currency with an impenetrable ledger.  Mastercoin is many things - with the same impenetrable ledger.  Many things includes: securities; bets; contracts; smart properties; and a bunch of stuff we haven't fully put forth yet.

but the Mastercoin concept seems a lot more complex than altcoins
I don't think it is 'more complex' - but it is much more interesting, powerful and versatile.  Probably a many other things too.

For these reasons, among others, look for MSC to be greater than BTC in value in about 3 months.


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November 28, 2013, 12:11:57 AM
 #1806

when i want to show MSC trades on cryptocoincharts.info
is this a good starting point? http://mastercoin-explorer.com/api_docs
Trading is still done manually until the decentralized exchange is working, so you won't get a meaningful price from the API yet.
The first row of the order book shows the last traded price, maybe you can read that data somehow?

Is there any website with a chart of mastercoin prices since inception of this currency? Thanks.

There are no automated exchanges trading Mastercoins yet. The closest chart of historical trades is the ones compiled by escrow agents doing manual trading. You can see the chart here, and the trading history here

Thanks. The thing that perplexes me about Mastercoin is that its price is so high relative to other altcoins, yet it's not even traded on exchanges yet. Doesn't seem to have much room to grow, unless people expect it to become worth 1 BTC or above. Thoughts?

Edit: I'm not trying to criticize Mastercoin, just to understand it. Is the intention that Mastercoin will become the new standard version of Bitcoin, i.e. that its features will be incorporated into Bitcoin itself? And if so, would the price of 1 MSC and 1 BTC be expected to equalize when that happens? Sorry if my questions sound dumb, but the Mastercoin concept seems a lot more complex than altcoins and I'm genuinely trying to learn. Thanks!

Looking at the price of an individual coin is a silly way to look at things. Look at the overall market capitalisation vs bitcoin and you will see the room for growth.
TomHirsch
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November 28, 2013, 12:12:00 AM
 #1807

Ain't he though? Maxmint + Pouncer is faster than Gox's trading engine. Do we even need a DEx?
True fact.
TomHirsch
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November 28, 2013, 12:14:04 AM
 #1808

Looking at the price of an individual coin is a silly way to look at things. Look at the overall market capitalisation vs bitcoin and you will see the room for growth.
That would be true if they were direct competitors like Litecoin.  They are not.  They work together.  However, Mastercoin will carry far more functionality than bitcoin.  Mastercoin will finally far exceed bitcoin in value.  Although bitcoin will always operate as the 'currency' portion of the system.  Mastercoin will serve other parts = many other parts.


'overall market cap' could be compared if these two served the same purpose.  They don't.  Mastercoin will perform a different function than bitcoin.  It won't replace it as a currency.  If it were a currency replacement (as Litecoin is) then this comparison might be interesting.  Mastercoin operates to enhance bitcoin - not replace it.  Litecoin attempts to replace it with some added differentiating features (not very interesting).  Mastercoin is not an altcoin.

Mastercoin is not an altcoin.   Mastercoin is not an altcoin.  Mastercoin is not an altcoin.
Say it a few times if it makes you more comfortable.
freebird
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November 28, 2013, 12:15:13 AM
 #1809

when i want to show MSC trades on cryptocoincharts.info
is this a good starting point? http://mastercoin-explorer.com/api_docs
Trading is still done manually until the decentralized exchange is working, so you won't get a meaningful price from the API yet.
The first row of the order book shows the last traded price, maybe you can read that data somehow?

Is there any website with a chart of mastercoin prices since inception of this currency? Thanks.

There are no automated exchanges trading Mastercoins yet. The closest chart of historical trades is the ones compiled by escrow agents doing manual trading. You can see the chart here, and the trading history here

Thanks. The thing that perplexes me about Mastercoin is that its price is so high relative to other altcoins, yet it's not even traded on exchanges yet. Doesn't seem to have much room to grow, unless people expect it to become worth 1 BTC or above. Thoughts?

Edit: I'm not trying to criticize Mastercoin, just to understand it. Is the intention that Mastercoin will become the new standard version of Bitcoin, i.e. that its features will be incorporated into Bitcoin itself? And if so, would the price of 1 MSC and 1 BTC be expected to equalize when that happens? Sorry if my questions sound dumb, but the Mastercoin concept seems a lot more complex than altcoins and I'm genuinely trying to learn. Thanks!

Looking at the price of an individual coin is a silly way to look at things. Look at the overall market capitalisation vs bitcoin and you will see the room for growth.

What's the current market cap of Mastercoin? How many Mastercoins have been created, and how many can be created total?

If there's a thread or post where these questions have already been answered, please direct me to it. Thanks!

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
nanobit
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November 28, 2013, 12:33:31 AM
 #1810

What's the current market cap of Mastercoin? How many Mastercoins have been created, and how many can be created total?

If there's a thread or post where these questions have already been answered, please direct me to it. Thanks!

The (somewhat overwhelming) main thread is:
MasterCoin: New Protocol Layer Starting From “The Exodus Address”
https://bitcointalk.org/index.php?topic=265488.new

Regarding the amount of coins: All original Mastercoins (MSC) were generated between August 1st and August 31st by all those that sent funds to the "Exodus Address", these total 563,162. In addition the Mastercoin protocol generated 10% additional Dev MSC (originally termed Reward MSC) which total 56,316 Dev MSC. Combined you get all the Mastercoins that will ever exist 619,478.
https://bitcointalk.org/index.php?topic=342431.0;all
marcelus
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November 28, 2013, 12:37:49 AM
 #1811

Looking at the price of an individual coin is a silly way to look at things. Look at the overall market capitalisation vs bitcoin and you will see the room for growth.
That would be true if they were direct competitors like Litecoin.  They are not.  They work together.  However, Mastercoin will carry far more functionality than bitcoin.  Mastercoin will finally far exceed bitcoin in value.  Although bitcoin will always operate as the 'currency' portion of the system.  Mastercoin will serve other parts = many other parts.

The protocols are not competitors but the coin parts of the bitcoin and mastercoin could easily be. BUT, that still doesn't matter too much, just think of what bitcoin can do, what value it has been given by the market for its abilities, think of what mastercoin can do that bitcoin can't and think of what value it could have if bitcoin already has a market cap of $12b.

Basically, what value does a protocol that offers trustless transactions of smart property, currencies, betting, issuance of shares and dividends, etc have if a virtual currency has a market cap of $12b?
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November 28, 2013, 12:40:12 AM
 #1812

Looking at the price of an individual coin is a silly way to look at things. Look at the overall market capitalisation vs bitcoin and you will see the room for growth.
That would be true if they were direct competitors like Litecoin.  They are not.  They work together.  However, Mastercoin will carry far more functionality than bitcoin.  Mastercoin will finally far exceed bitcoin in value.  Although bitcoin will always operate as the 'currency' portion of the system.  Mastercoin will serve other parts = many other parts.

The protocols are not competitors but the coin parts of the bitcoin and mastercoin could easily be. BUT, that still doesn't matter too much, just think of what bitcoin can do, what value it has been given by the market for its abilities, think of what mastercoin can do that bitcoin can't and think of what value it could have if bitcoin already has a market cap of $12b.

Basically, what value does a protocol that offers trustless transactions of smart property, currencies, betting, issuance of shares and dividends, etc have if a virtual currency has a market cap of $12b?

That's my way of saying I agree with you Smiley
freebird
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November 28, 2013, 01:54:00 AM
 #1813

Thank you TomHirsch, marcelus, and nanobit for your replies.

I do have a few more questions:

1. What is the best wallet for storing Mastercoins?

2. Do the members here who provide escrow verify that real Mastercoins are being traded in each transaction? If not, does mastercoin-explorer.com provide reliable evidence that real Mastercoins were traded? If this is unreliable, what method is recommended for a recipient of Mastercoins traded through this forum to verify that they received real Mastercoins?

3. When is the first online exchange for MSC/BTC expected to launch?

4. Is there a goal to get MSC/BTC listed as a trading pair on major exchanges such as BTC-E?

Thanks.

Grantcoin: Currency with a Conscience. Distributed as charitable grants by a 501(c)(3) tax-exempt nonprofit organization. Learn more at Grantcoin.org
hengheng
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November 28, 2013, 02:03:00 AM
 #1814

buy 5 msc @0.17, thanks.
Pouncer
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November 28, 2013, 02:46:29 AM
 #1815

Order book updated.

buy 5 msc @0.17, thanks.

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November 28, 2013, 06:11:18 AM
 #1816

Would someone please remove my sell order from the order book (80 MSC @ 0.18 BTC each)? Thanks.
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November 28, 2013, 06:15:05 AM
 #1817

Would someone please remove my sell order from the order book (80 MSC @ 0.18 BTC each)? Thanks.

Order book updated.

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November 28, 2013, 10:19:35 AM
 #1818

Thank you TomHirsch, marcelus, and nanobit for your replies.

I do have a few more questions:

1. What is the best wallet for storing Mastercoins?

2. Do the members here who provide escrow verify that real Mastercoins are being traded in each transaction? If not, does mastercoin-explorer.com provide reliable evidence that real Mastercoins were traded? If this is unreliable, what method is recommended for a recipient of Mastercoins traded through this forum to verify that they received real Mastercoins?

3. When is the first online exchange for MSC/BTC expected to launch?

4. Is there a goal to get MSC/BTC listed as a trading pair on major exchanges such as BTC-E?

Thanks.

New interest in Mastercoin is always a good thing, but I think these kind of posts should probably be elsewhere (the main Mastercoin thread: https://bitcointalk.org/index.php?topic=265488) and this topic reserved for buying and selling discussion.  Wink
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November 28, 2013, 10:26:40 AM
 #1819

I have a question regarding MSC in a BTC wallet. I bought some MSC a while ago and kept them in my BTC wallet (togehter with some BTC). unfortunately i used that wallet recently for transactions and spent nearly all the balance there to tx to exchanges. What does that mean now to my MSC? did i lost them? the exchanges are prob. not even aware that they received MSC.

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November 28, 2013, 10:36:44 AM
 #1820

I have a question regarding MSC in a BTC wallet. I bought some MSC a while ago and kept them in my BTC wallet (togehter with some BTC). unfortunately i used that wallet recently for transactions and spent nearly all the balance there to tx to exchanges. What does that mean now to my MSC? did i lost them? the exchanges are prob. not even aware that they received MSC.

Nope - you didn't lose them. They should still be there and you can check to confirm at mastercoin-explorer  Just plug in your btc address to check.  Keep in mind you will need a small amount of btc when/if you want to move your msc anywhere.
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