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Author Topic: MasterCoin Buyer/Seller Thread  (Read 221882 times)
ejinte
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December 17, 2013, 07:08:50 PM
 #2441

Question if i purchased a product and/or service without performing due diligence,  am i not the one to blame?

If i fail to do my own research or homework before i made an important decision then who am i to blame?

If i bought a home at $500,000 usd & the home is only worth 275,000 usd is it rightfully to call
The real estate agent or the home owner a scammer because i  agreed to pay that price & i fail to the proper thing  (due diligence)?

If & when mastercoins is worth $1000 a piece will those who scream scam be saying the same thing by then?

May 2014 be a prosperous year for you

Best regards
Peer2peer360


If they go to $1000 I will only have $5000 and not $15000 or $20000 and I will feel as stupid then as today.

Sure I should have done my research, I've accepted that know. To trust that the offical mastercoin webpage gives good recommendation was WRONG and I won't trust mastercoin.com, the mastercoin fondation or this Ron dude again, and I would like to share my experiance to let other know about this too. Do you think that's wierd?

But if you think this amount of MTC is not a biggy then maybe you or someone else could give me my loses? It would be a nice gesture.

 

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1508293986
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bitexch
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December 17, 2013, 07:18:20 PM
 #2442

Just because someone (very smart I guess) is making money doesn't make him a thief.

+1.
But again, I would contest your claim that buymastercoin is associated with the mastercoin foundation; there is no link to buymastercoin.com on mastercoinfoundation.org, only mastercoin.org

EDIT: Or at least, I would need one of the board members to tell us that the foundation owns the domain name mastercoin.org

Ron Gross owns mastercoin.org.

Mastercoin.org and mastercoinfoundation.org are the property of Mastercoin Foundation, Inc. a Delaware registered non-profit corporation.

Ron has disclosed multiple times that he knows the guy running buymastercoin and therefor stays out of decisions involving that entity. I think he even says it in a video somewhere...


You seem to be missing the point: if a domain owned by the Mastercoin Foundation references a certain exchange, the exchange is implicitly given an objective legitimacy. If it turns out that the owner of that exchange is the friend of a board member and, moreover, the exchange is charging 2-3x the market-rate, then you can surely see how this would  make the board seem less legitimate!?

If newcomers are the ones who are complaining, then the fact that Ron made a post a month ago saying he's friends with buymastercoin, and that he once mentioned it in some video isn't helpful; newcomers who are using buymastercoin are not combing through the archives!

I want to reiterate that I am not criticizing buymastercoin for having a huge profit margin - more power to him! This is directed at Ron and implicitly the rest of the board.
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December 17, 2013, 08:09:48 PM
 #2443

+1

I suggest, to promote goodwill, that buymastercoin.com should offer refunds calculated by subtracting the most recent sale price from the purchase price they charged the customer at the time of transaction to determine a spread, and then adding that spread to the current most recent sell price at the time of refund to the customer. I can see subtracting a few percent from the refund to cover buymastercoin's expenses and time.
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December 17, 2013, 08:18:29 PM
 #2444

+1

I suggest, to promote goodwill, that buymastercoin.com should offer refunds calculated by subtracting the most recent sale price from the purchase price they charged the customer at the time of transaction to determine a spread, and then adding that spread to the current most recent sell price at the time of refund to the customer. I can see subtracting a few percent from the refund to cover buymastercoin's expenses and time.

buymastercoin is not a board member (as far as we know), why should he give refunds?

If buymastercoin wants to regain legitimacy he can give a refund, but this will only be if he feels like it- the community has absolutely no say. As long as buymastercoin has no formal association with the mastercoin foundation, he's not guilty of anything. He surely knew that his exorbitant mark-up could not continue forever. It has however gone on longer than would otherwise have been possible without implicit endorsement from the board.

The board, not buymastercoin, is obviously to blame for the reasons given in my previous post.
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December 17, 2013, 08:21:31 PM
 #2445

Everyone is in this game to make profit. Everyone is in everything to make profit. If people can't do their own research and find the market price, than so be it. They will buy at a higher price if they want, and if they due diligence on the price, they will find the best price.

The sellers set the prices they want to sell at, so stop attacking all these people for selling at higher prices than market. The 0.3 price is cheaper than the 0.7 that dacoinminister (founder) is selling, so everyone should stop busting buymastercoin's balls.

Especially DGulari, this guy is always flipping shit on all mastercoin threads, accusing some people of scammers and such. Because he can't find any buyers for his prefunded order..
Make a profit all you want.  I don't have anything against profit.  Nobody is complaining about that.  Also, charge whatever price you want.  Fine.  

What we are against is deception and trickery.  buymastercoin is a fucking trick because they take advantage of their position on the official site to suck in those not sophisticated enough to find the real market.  The trick actually works!  There is at least one guy here who trusted the official site to put a decent recommendation to honorable sales agent - which turned out to be bullshit and it cost the guy thousands of dollars.  Buymastercoin.com is a dishonest scam agent.  Their prices and marketing tactics are bullshit.  I knew this from the very start when they started spamming the blockchain with adds during the Mastercoin buy-in / Exodus process.  Fuck them.

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DGulari
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December 17, 2013, 08:26:09 PM
 #2446

He is the same guy as TKeenan and probably Tom Hirsch - just hit Ignore..
Look you dumb-ass, you've had me on 'ignore' for ages.  Why the fuck don't you just ignore me then?  Instead, you keep reading my shit and commenting with your dumb ass eye rolls.  Can't your brain figure out how to actually ignore someone?  Dick.  Big bag of dicks for you to munch on.

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DGulari
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December 17, 2013, 08:30:55 PM
 #2447

+1
I suggest, to promote goodwill, that buymastercoin.com should offer refunds
Scammers don't give refunds.  Only when legitimate businesses determine their customers are not satisfied with the transaction do refunds come.  buymastercoins.com is a scam operation with unfair prices preying upon those without complete knowledge.  Too bad some trusting people get tricked.  It is a tough world.  But I object to Mastercoin.org participating in the scam.  That part is bullshit.  If buymastercoin.com wants to charge 10X - I am totally for it.  I just don't think the official organization ought to participate because Ron is friends with the guy.  Clear conflict of interest.

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milkyman
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December 17, 2013, 08:31:26 PM
 #2448

Important update

I'm quoting myself from another thread here:

I just launched mcoin.io, a self-service Mastercoin order book. It will hopefully replace or at least complement the manually managed Google order book.
As soon as the distributed Mastercoin exchange is fully working, mcoin.io most likely will become obsolete. But I hope it helps people to buy and sell Mastercoins in the meantime.

Some features:
- You can add and remove your own sell / buy orders (no need to wait for manual updates)
- Balances of addresses get verified, fake orders can't be created
- You can create prefunded orders and edit prices yourself
- Prefunded orders can be bought directly from the site, no need for direct contact or escrow (as long as you trust me). Sending of Mastercoins will be done manually though, no private keys or funds are stored on the server.
- No need to create an account at the site and no passwords to be lost or stolen. Everything is based on signing messages with your Mastercoin / Bitcoin address.

I don't know how to sign a message with my address
I created a little tutorial to help you get started with this: http://mcoin.io/#/help

What about the manual Google order book?
From now on, I'm asking everyone to submit their orders to the new self-service order book at mcoin.io. The manual Google order book will still be accessible for a while but I'm strongly encouraging everyone to test the new order book.

Bugs and suggestions
The new site is still in beta and I guess there's lots of room for improvements. Please let me know about bugs, typos and suggestions.

As said above, the Google order book will still be around and I might make manual updates when I'm around (although less often than I used too).
But I'm really encouraging everyone to use the new order book. If you have bug reports or suggestions, please post them in the other thread as this buyer / seller thread should be reserved for posting of orders.

Hi maxmint,

that's great news! Great description about how to sign a message - this worked fine for me.
Some critics: Right now, there is somebody selling pre-funded MSC. If I click "Buy now", a window appears into which I can enter my MSC receiving address and optionally an email address. A few things I don't understand:

- Why is a contact address optional? If I don't enter anything, how do you contact me?

- It is a pre-funded order. Isn't it the easiest, if the receiving BTC address of the seller is already displayed? I could just send the BTC to this address immediately. To prove that it was me sending the BTC, you could also here add a field for verifying that I owned the sending BTC address.

- As it is now, it seems like I have to buy ALL the MSC the seller offers. Can't I buy only a few?

edit: Or do these things appear later after I would have pressed the "Buy Now" butten? I didn't dare to press it :/
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December 17, 2013, 09:15:49 PM
 #2449

more questions:

- Is there only a fee for pre-funded orders?

- Why can't I make a pre-funded MSC buy-order?
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December 17, 2013, 10:59:54 PM
 #2450

Selling 107 MSC @ 0.17 each




pm me. thanks
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December 17, 2013, 11:31:00 PM
 #2451

Hi all,

Someone pointed out that my reply to this thread would be appreciated, (thanks) so here it is.
I do not plan to monitor this thread and "convince" every naysayer.

  • I have no personal stake or business relationship with BuyMastercoin or its owner. He is a friend of mine though, as I said multiple times.
  • He was the only one providing any sort of liquidity to the market for a long time. He did a good service to Mastercoin. He did not scam anyone out of their money, and provide a useful service to many (I sold him some MSC at times, and bought MSC at other times).
  • I never put a link to his website on mastercoin.org. David Johnston did that when he setup the website. I never asked David to do this, he did this on his own volition because it was a good thing to do at the time.
  • Going forward, we are linking only to the wiki article and not to a specific seller, because there are multiple options right now.
  • The Mastercoin Foundation is not associated with, nor does it have any business relation, with BuyMastercoin or any MSC exchange.
  • I understand that some people feel cheated because they bought at higher than market prices. This is part of the natural dynamics of a market with such low liquidity ... people who do not do their research or luck out can end up with getting a raw deal. Mastercoin and crypto-currencies are a risky investment, do your homework and risk analysis!
  • You can direct any further complaints or inquiries to BuyMastercoin, this matter does not involve the Foundation or me in any way

Regards,
Ron
Mastercoin Foundation Executive Director

Please do not pm me, use ron@bitcoin.org.il instead
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December 17, 2013, 11:36:55 PM
 #2452

I would like to add that I take great care to avoid any hint of nepotism.
I do have several close friends that are working with the Foundation or Mastercoin, but in these cases I take care to remove myself from the decision process.

E.g. just this morning I asked David Johnston to manage the potential hire/no hire of a designer friend of mine.
I asked him to open a new public job posting, if he agrees the role is justified, and to interview candidates himself.
I will abstain from voting in this case.
Another good friend of mine is interviewing for the role of Global Community Manager / Chapter Planter, and I take no personal involvement in the process as well.

It is natural that friends of mine want to be involved with Mastercoin ... after all, they spend time talking to me, and are thus more likely to be convinced the project is a worthy allocation of their time. They are of course not disqualified from taking part with Mastercoin just due to knowing me. However I do take great care to ensure that no chance for favoritism is given.

Your understanding is appreciated.

Please do not pm me, use ron@bitcoin.org.il instead
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December 18, 2013, 12:28:38 AM
 #2453

Thanks to the folks that pointed me to this discussion and thread.

I can confirm what Ron said. I David Johnston put up the first version of the Mastercoin.org website.

I have no relationship with the guy running Buymastercoin.com, I had never meet him or talked with him before creating the website.

I listed all the relevant web links I could find in the eco-system at the time. Including the Google Order Book, Buymastercoin.com, and the Mastercoin Faucets.

As far as I'm aware Buymastercoin.com has worked with all its customers fairly and added liquidity to the market.

I agree with the suggestion earlier in the thread to simply point community website to the Wiki which has a list of ALL the websites offering MSC liquidity.

I agree we should create a fair and open market and not give anyone an unfair advantage.



 
  

“The state is that great fiction by which everyone tries to live at the expense of everyone else.” ― Frédéric Bastiat
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December 18, 2013, 02:02:29 AM
 #2454

Is there anyway to get test-mastercoins?
Maybe one of the original investors that has no interest in using them is willing to send them? :-)

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December 18, 2013, 02:06:11 AM
 #2455

Selling 107 MSC @ 0.17

PM ME
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December 18, 2013, 02:16:34 AM
 #2456

Is there anyway to get test-mastercoins?
Maybe one of the original investors that has no interest in using them is willing to send them? :-)




You can buy (or sell ) test mastercoins at the distributed exchange using Mymastercoins wallet (I wrote the program Smiley

http://mymastercoins.com/MyMSCWallet.aspx
https://github.com/Bitoy88/MyMastercoinsWalletBeta
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December 18, 2013, 02:19:36 AM
 #2457

Hmmm it would be unfortunate if you would have to pay to get test-mastercoins since they should have no value (they're used for testing after all).

From what I've read in dacoinminster's posts that's how he saw them as well.
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December 18, 2013, 02:22:51 AM
 #2458

Is there anyway to get test-mastercoins?
Maybe one of the original investors that has no interest in using them is willing to send them? :-)




You can buy (or sell ) test mastercoins at the distributed exchange using Mymastercoins wallet (I wrote the program Smiley

http://mymastercoins.com/MyMSCWallet.aspx
https://github.com/Bitoy88/MyMastercoinsWalletBeta


Does it work for real mastercoins?
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December 18, 2013, 03:32:38 AM
 #2459


Does it work for real mastercoins?

The wallet works only in test mastercoins.  (Waiting for the mastercoin foundation to set the starting block for  msc trading)
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December 18, 2013, 04:53:29 AM
 #2460

Question if i purchased a product and/or service without performing due diligence,  am i not the one to blame?

If i fail to do my own research or homework before i made an important decision then who am i to blame?

If i bought a home at $500,000 usd & the home is only worth 275,000 usd is it rightfully to call
The real estate agent or the home owner a scammer because i  agreed to pay that price & i fail to the proper thing  (due diligence)?

If & when mastercoins is worth $1000 a piece will those who scream scam be saying the same thing by then?

May 2014 be a prosperous year for you

Best regards
Peer2peer360


+1.1
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