MasterCoin Buyer/Seller Thread

[Herp]

Something isn't right. Because saying you need 1500btc to cover your taxes sounds fishy.

Either he lost faith in his project, and he wants to get his initial investment back.

Or

He was to get his initial investment back, so even if Mastercoin completely fails, or it succeeds, he won't have lost anything.

But the tax reason sounds fishy, unless he owes more than $1 million in taxes. Which could be true, but I highly doubt.

He also said before that he wasn't going to sell a single MSC until 0.7, and that was a couple months ago.

He obviously has a day coder job that pays well atm. He needs to sell these coins so that he can support himself and family for a year or two as he won't get paid. He will only sell 3-6% of his Mastercoin holdings.

Also you might wanna check this reddit posted today http://www.reddit.com/r/mastercoin/comments/1upjln/the_mastercoin_foundation_is_looking_for_a_cto/
They are looking to hire a CTO. Project is very much alive and kicking, so very much the very opposite of what you're implying.

[dacoinminster]

J.R.,

I just noticed this. I think it is the chance to me. I heard Mastercoin in Oct., 2013, but the wallet was not ready yet, so I gave up at that time. I think I have to grab the chance this time. So I want to buy  1000 MSC at 0.1 BTC price from you. If you want to make the deal, let me know. Thank you.

That's a big order! But the price would have to stay around 0.1 for a long time before I would sell that low. You can see other quotes I have made people in the thread. I quoted somebody else 0.17 for 1000 MSC. Thanks!

[Herp]

They have also upped the bounty to $10k for the first established exchange that supports Mastercoin.

[TKeenan]

Something isn't right. Because saying you need 1500btc to cover your taxes sounds fishy.
But the tax reason sounds fishy, unless he owes more than $1 million in taxes. Which could be true, but I highly doubt.
He also said before that he wasn't going to sell a single MSC until 0.7, and that was a couple months ago.

Yeah, to me too.  Nobody who has a real job actually gets paid enough to have a $1million tax bill.  Maybe his rich uncle just died and left a shitload of capital gains in his lap.  Who knows.  Either way, Exodus buyers should have been forced into a 'lock-out' scheme to prevent this kind of market crash.  

For example the top 20 buyers should have been limited to MSC sales of no more than 2% of their holdings.  Founders who take early profits on project excitement - completely destroy the project.  In this thinly traded market - the problem of large founder dumps is multiplied by a large number.  

Can we retroactively enforce some 'lock-out' plan?  In view of JR's biased position, can we have the board consider this?

[Herp]

Still, it makes no sense for the founder of Mastercoin to announce publicly he wants to sell his coins.

It's such a dumb move, if you want to do something like that, do it silently across all the exchanges little at a time. He pretty much set a price ceiling of 0.2

Yeah he did but as soon as he sells off the desired amount that ceiling will quickly vanish.

[dacoinminster]

Something isn't right. Because saying you need 1500btc to cover your taxes sounds fishy.

Either he lost faith in his project, and he wants to get his initial investment back.

Or

He was to get his initial investment back, so even if Mastercoin completely fails, or it succeeds, he won't have lost anything.

But the tax reason sounds fishy, unless he owes more than $1 million in taxes. Which could be true, but I highly doubt.

He also said before that he wasn't going to sell a single MSC until 0.7, and that was less than 2 months ago. So a tax bill of 1million+ just suddenly appeared? Yeah right. This is a slap in the face to any investors of MSC who bought after the exodus investment opportunity, people were buying at 0.15+ the whole time, now the bids are barely at 0.15.

There are actually a lot of reasons, but the biggest is my wife. I would have been full-time on MSC a LONG time ago, but she is very risk adverse. I've posted about this many times before. I need to show her this is REAL and not just "magic internet money"

[TKeenan]

Still, it makes no sense for the founder of Mastercoin to announce publicly he wants to sell his coins.
It's such a dumb move

Precisely why 'lock out' agreements are made.  

[dacoinminster]

I ever purchased MSC by The Exodus Address. Now I have interest to purchase your MSC outside Macket.

The trade volume is about 100 to 500 MSCs,depending on the price.

If you start it, let me know.

In line with other quotes I've been giving people, that would be 0.2 BTC/MSC for 100 MSC or 0.18 BTC/MSC for 500 MSC. Thanks!

[TKeenan]

There are actually a lot of reasons, but the biggest is my wife. I would have been full-time on MSC a LONG time ago, but she is very risk adverse. I've posted about this many times before. I need to show her this is REAL and not just "magic internet money"

You need to be the man and sort her out.  She'll thank you later when she is filthy rich.  We all know the MSC concept is pure gold.  Now go build the god-damned thing with confidence.  

"Honey, I don't want you to go Bison hunting today - it is too dangerous"
"But if I don't go hunting for Bison, we'll spend the rest of our lives like the French eating snails"

Man up JR.  She'll be happy later.

We all took a risk on MSC - now put on man pants and go build it.  

[dacoinminster]

OK. That's all the PMs for now. Most of these people were probably hoping for a better deal, but if these all go through, I may be done selling for a long time.

It is entirely possible that I won't even get a chance to post any of these on the exchanges. How weird is that . . .

Thanks guys. I'll communicate with these buyers, and let you know if I start quoting different prices.

[DarkEmi]

DarkEmi i like the change you made to masterxchange
keep up the good work!

Thanks for the kind words We are trying to do everything users ask for, and what we think makes the GUI better.

There is still a ton of little things that we got to do !

[realdos]

Something isn't right. Because saying you need 1500btc to cover your taxes sounds fishy.
But the tax reason sounds fishy, unless he owes more than $1 million in taxes. Which could be true, but I highly doubt.
He also said before that he wasn't going to sell a single MSC until 0.7, and that was a couple months ago.

Yeah, to me too.  Nobody who has a real job actually gets paid enough to have a $1million tax bill.  Maybe his rich uncle just died and left a shitload of capital gains in his lap.  Who knows.  Either way, Exodus buyers should have been forced into a 'lock-out' scheme to prevent this kind of market crash.  

For example the top 20 buyers should have been limited to MSC sales of no more than 2% of their holdings.  Founders who take early profits on project excitement - completely destroy the project.  In this thinly traded market - the problem of large founder dumps is multiplied by a large number.  

Can we retroactively enforce some 'lock-out' plan?  In view of JR's biased position, can we have the board consider this?

I don't think the lock-out plan would be fair to anyone who invested some of their real money into a high-risky project. The project was first only a paper and we sent our money to the exodus address, believing it would someday bring us much more profit than we could imagine. We also understood that the investment could fail and we could not get our money back. Given all the risks we took, it is unfair as well as illegitimate now to set up any plan to keep us from doing anything we want with our investment.

[AlexNeto]

I'm not checking this tread often, but I see now that a bubble is about to burst. I am still interested to invest 300+ btc in the project as a long term investment. So let me know when price will drop bellow 0.08 btc.

[TKeenan]

I'm not checking this tread often, but I see now that a bubble is about to burst. I am still interested to invest 300+ btc in the project as a long term investment. So let me know when price will drop bellow 0.08 btc.

Not gonna happen until probably tomorrow or Friday.  Be patient.

[FTWbitcoinFTW]

There are actually a lot of reasons, but the biggest is my wife. I would have been full-time on MSC a LONG time ago, but she is very risk adverse. I've posted about this many times before. I need to show her this is REAL and not just "magic internet money"

why she did not buy like 100BTC for 1000$ last year and got his own wallet ?
Let me guess, because she didnt believed on this thing named bitsomthing ?

But now you're a millionaire, it's ok to jeopardise a nice project ?
Honestly, how many bitcoin you'd have if you had listened her

NEVER listen a women about money and risk.

C'mon tell me i'm wrong, please

Remember me Eric dumping 100K satoshiDice shares...

[dacoinminster]

David sent another potential large buyer my way:

On Wed, Jan 8, 2014 at 11:35 AM, David Johnston <> wrote:

    J.R.,

    Let me introduce you to --------- an investor I want you to connect with who has an interest in purchasing MSC from you.

    ----------,

    This email is a good way to connect with J.R.

    I'll let you two take it from here.

    Best Regards,

       David A. Johnston Entrepreneur / Angel Investor

Thanks David, and hi ------!

I personally use the armory wallet to store my mastercoins, but that is less user-friendly (you have to do some extra work to send mastercoins from a regular bitcoin wallet). However, I feel it is more secure than any other client at the moment for very large quantities of bitcoin (or bitcoin-derived currency like Mastercoin)

I'm currently quoting these prices:

    0.2 BTC/MSC for most orders under 100 BTC (0.19 for one guy who was close to 100 BTC)
    0.18 BTC/MSC for a couple orders right at 100 BTC
    0.17 BTC/MSC for a couple orders around 1000 MSC

I'll probably stick to those prices unless the price moves significantly away from 0.2 BTC/MSC and stays there for awhile. You can also buy mastercoin on the exchanges, but volume isn't very high there and anything but a tiny order moves the price a lot.

Let me know

Thanks!

-J.R.

[peled1986]

J.R - i think we got the point.
you are honorable and trustworthy that's why we are all invested in this project.
we believe that you will chose your buyers wisely.
Just update at the end when it's all good and done.
Good Luck.
(that's my opinion at list)

[TKeenan]

Man, you guys are all just one big jittery lot!  Crazy price swings in two days.  Who are the guys with NO confidence?  One negative word and then SELL!!!

I guess that is a result of cyrptocurrency Pump and Dump mentality.  So much pump and dump game going on.  Everyone tries to rush the exit faster than the others.  First indicator of a dump coming and everyone goes nuts.  Hilarious. 

Didn't anyone bother to think the protocol is still good and the coders are still working hard?  That doesn't matter - only thing that matters is beating your neighbor out the exit!!!  Run!!!! 

Fucking awesome discounts - I'll take them.

[dacoinminster]

On Wed, Jan 8, 2014 at 2:38 PM, <major bitcoin entrepreneur> wrote:

    Hi guys,

    Heard there is a block out there, any price target ?

    ------

Hey ------!

Here's my post about this: http://www.reddit.com/r/mastercoin/comments/1uo0ft/buy_mastercoins_directly_from_jr_founder_of/

Current prices:

    0.2 BTC/MSC for most orders under 100 BTC (0.19 for one guy who was close to 100 BTC)
    0.18 BTC/MSC for a couple orders right at 100 BTC
    0.17 BTC/MSC for a couple orders around 1000 MSC


Buyers are lining up. Thanks!

[tantanbit]

Sorry to send the market bouncing around guys! Most of you seem to get what is going on here, but for those who have any question about my commitment to the project, here is a clarification I just posted on reddit:

Edit:

I'm sorry that the post above did not adequately convey my excitement to get a chance to work on Mastercoin full-time! Ripper is completely correct in his posts below. I have taken a lot of criticisim for not diversifying in the past, and now I am finally doing so, with the added benefit of getting to work on my passion full-time.

As for the concern that people would dump coins on the market and then try to buy them back cheaply from me, I will not sell in such a situation. The price would have to stay down for a long time before I would accept it as a new market equilibrium. I'm very sensitive to the lack of volume on our exchanges, so I'm prepared to wait a long time for the right buyer(s) to come along. There will be no "dumping".

Please keep in mind that this is only a tiny fraction of the Mastercoins I have, and the ONLY reason I'm selling them is to pay pressing bills and get more time in on Mastercoin. I am so excited to be a part of this, and I MUST get more involved!

Thanks!

if you set the price 0.17 ,then the market price will never be higher than 0.17 ,peopel will buy from the market not from you. and selling Behavior also make some  people to keep away from msc .what you should do is giving good news ,attract more people in msc. when the markt is large enough , you can easily sell your msc on the market .