MasterCoin Buyer/Seller Thread

[dacoinminster]

I gave bits of MSC out for people who wrote blog posts, changed their forum signature, or otherwise made some good-faith effort to promote the project. I would suggest continuing the model where you have to at least tweet about MSC to qualify for some.

High powered tweets are still only worth a fraction of one MSC.  I'd say someone who has the capacity to produce excellent press release bits which attract the attention of journalists.  And still further, for intelligent people to talk to those journalists in a fashion which results in a news story of good quality.  If someone manages to a Wall Street Journal writer to cover MSC it should be worth 10 or 20 MSC.  

Well, the main goal is to get the MSC into lots of hands, but not for completely free. I didn't (for instance) look at how many followers twitter accounts had. I mostly looked at how much effort the person put out, and how well they understood the project. There's a network effect involved when lots of people participate in something like this. Many of them learn about the project then decide to get involved or buy some, so it's usually worth it on average even if nobody ever sees their tweet.

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[Luckybit]

Why are you so against an MSC faucet?

Because I am not a communist who favors redistribution of wealth to the disadvantage of those who diligently invested in good time.

I'm not a communist either. But who am I supposed to trade with on that decentralized exchange if I can't find anyone I know on there?

So everyone has to be on there.

[HammerFist]

Perhaps the best model would be for me to reimburse people who run the giveaway out of their own pockets, plus 10% for their trouble.

I'd suggest that the standard payout be 10x smaller now, since MSC is ~10x more valuable.

JR - this is a very good idea and important task.  But you must not manage it.  Keep your eye on the ball.  Give the ~400MSC to some dedicated guy here with some intelligence and forget it.  Let him administer the promotion the best he can.  Maxmint has won the faith of many - I don't know whether he could operate to serve this task also.  But in any case, you can't do it.  You need to give your energy to the next contest.  

I also think you could leverage these ~400 to make a second contest.  Again, someone else could administer it.  But, when many people are competing for these funds, we'll produce a much bigger overall effect.  Forget tweets - well directed press releases are the way to go.  When those land on the right journalists, we will get plenty of the attention we could use.

[dacoinminster]

I'm not a communist either. But who am I supposed to trade with on that decentralized exchange if I can't find anyone I know on there?

So everyone has to be on there.

You don't have to know people on the distributed exchange to use it. It's trust-free

Well, I guess you have to trust the protocol . . .

[Luckybit]

Perhaps the best model would be for me to reimburse people who run the giveaway out of their own pockets, plus 10% for their trouble.

I'd suggest that the standard payout be 10x smaller now, since MSC is ~10x more valuable.

I think this is the best way to go about it. I have 30 MSC which I could use for this purpose provided I would be reimbursed. I'm sure there are others here who have some too.

I'm not a communist either. But who am I supposed to trade with on that decentralized exchange if I can't find anyone I know on there?

So everyone has to be on there.

You don't have to know people on the distributed exchange to use it. It's trust-free

Well, I guess you have to trust the protocol . . .

Now entirely trust free. If I'm buying stock in something then it's important to know who is running the business. For other things maybe it doesn't matter who is on the other end of the deal.

[HammerFist]

Why are you so against an MSC faucet?

Because I am not a communist who favors redistribution of wealth to the disadvantage of those who diligently invested in good time.

I'm not a communist either. But who am I supposed to trade with on that decentralized exchange if I can't find anyone I know on there?
So everyone has to be on there.

Why is it that you have to find someone you know?  Just buy the next offer at market prices.  Who cares if you know the guy.  The price is the price that one is willing to part with the MSC.  Its called a 'free market'.

[HammerFist]

Perhaps the best model would be for me to reimburse people who run the giveaway out of their own pockets, plus 10% for their trouble.
I'd suggest that the standard payout be 10x smaller now, since MSC is ~10x more valuable.

I think this is the best way to go about it. I have 30 MSC which I could use for this purpose provided I would be reimbursed. I'm sure there are others here who have some too.

lol!  Sure, so now Luckybit gives 30 MSC to his friend for wearing a sandwich board on the streetside for 10 mintues and claims back 33 MSC from JR!!  I am not sure how this model is going to help the quality of the exposure gained. 

[dacoinminster]

JR - this is a very good idea and important task.  But you must not manage it.  Keep your eye on the ball.  Give the ~400MSC to some dedicated guy here with some intelligence and forget it.  Let him administer the promotion the best he can.  Maxmint has won the faith of many - I don't know whether he could operate to serve this task also.  But in any case, you can't do it.  You need to give your energy to the next contest.  

I also think you could leverage these ~400 to make a second contest.  Again, someone else could administer it.  But, when many people are competing for these funds, we'll produce a much bigger overall effect.  Forget tweets - well directed press releases are the way to go.  When those land on the right journalists, we will get plenty of the attention we could use.

I agree about maxmint. I'd like to give him first shot at running this. Having lots of people run it might be . . . chaotic

[Luckybit]

Why are you so against an MSC faucet?

Because I am not a communist who favors redistribution of wealth to the disadvantage of those who diligently invested in good time.

I'm not a communist either. But who am I supposed to trade with on that decentralized exchange if I can't find anyone I know on there?
So everyone has to be on there.

Why is it that you have to find someone you know?  Just buy the next offer at market prices.  Who cares if you know the guy.  The price is the price that one is willing to part with the MSC.  Its called a 'free market'.

Because not everything you buy is something which you can buy without any risk. If you buy stock in something then you probably should know about who the issuer is. Like if you buy Asicminer you should know it's from Friedcat.

[Luckybit]

Perhaps the best model would be for me to reimburse people who run the giveaway out of their own pockets, plus 10% for their trouble.
I'd suggest that the standard payout be 10x smaller now, since MSC is ~10x more valuable.

I think this is the best way to go about it. I have 30 MSC which I could use for this purpose provided I would be reimbursed. I'm sure there are others here who have some too.

lol!  Sure, so now Luckybit gives 30 MSC to his friend for wearing a sandwich board on the streetside for 10 mintues and claims back 33 MSC from JR!!  I am not sure how this model is going to help the quality of the exposure gained. 

Are you really that paranoid? How exactly would I even do that?
If I give out my 30 MSC it will be to random people who post on the thread. You'd be able to see it all on the blockchain.

[HammerFist]

JR - this is a very good idea and important task.  But you must not manage it.  Keep your eye on the ball.  Give the ~400MSC to some dedicated guy here with some intelligence and forget it.  Let him administer the promotion the best he can.  Maxmint has won the faith of many - I don't know whether he could operate to serve this task also.  But in any case, you can't do it.  You need to give your energy to the next contest.  

I also think you could leverage these ~400 to make a second contest.  Again, someone else could administer it.  But, when many people are competing for these funds, we'll produce a much bigger overall effect.  Forget tweets - well directed press releases are the way to go.  When those land on the right journalists, we will get plenty of the attention we could use.

I agree about maxmint. I'd like to give him first shot at running this. Having lots of people run it might be . . . chaotic

Max - I don't know you from Adam and I don't know whether or not you are smart.  But if you are a smart guy, could you please organize this so that JR doesn't have to think about it ever again.  We need him paying attention to functionality and not this damn thread about trading values - and promotional stuff.  We need a smart guy to run a kick-ass promotional campaign for ~400 MSC.  If that is Max, then please stand up.  

[hmmmstrange]

JR - this is a very good idea and important task.  But you must not manage it.  Keep your eye on the ball.  Give the ~400MSC to some dedicated guy here with some intelligence and forget it.  Let him administer the promotion the best he can.  Maxmint has won the faith of many - I don't know whether he could operate to serve this task also.  But in any case, you can't do it.  You need to give your energy to the next contest.  

I also think you could leverage these ~400 to make a second contest.  Again, someone else could administer it.  But, when many people are competing for these funds, we'll produce a much bigger overall effect.  Forget tweets - well directed press releases are the way to go.  When those land on the right journalists, we will get plenty of the attention we could use.

I agree about maxmint. I'd like to give him first shot at running this. Having lots of people run it might be . . . chaotic

Max does not deserve the punishment of running a giveaway.

[yufu571]

Another solution, instead of selling MSC it might be a good idea to start up a MSC faucet and give out small quantities like (random lottery amounts .1 , .2 , .3  ->.9 ) of MSC for free to people. This way the people who already purchased MSC wont suffer as much but MSC would also be distributed a bit more.

Oh God - why can't people just leave free markets alone?  Why do you feel the need to control and decide what other people perceive the value to be?  Free markets take care of themselves.  Idiots should get burned.  That is the way it works. 

Don't mess with free trading to make rules that artificially control the price movements.  Let the movements go as the information is processed by the masses - rather than on the information you (or one single guy) thinks is important. 

agree

[klee]

I vote for Maxmint handling the giveaway!

And his must hire an assistant for the escrow and start charging standard fees.

[dacoinminster]

Poor maxmint. He's already really busy with all your trades. Sorry maxmint - feel free to say no!

If he can't do this, it will be time constraints, not intelligence constraints.

[HammerFist]

JR - this is a very good idea and important task.  But you must not manage it.  Keep your eye on the ball.  Give the ~400MSC to some dedicated guy here with some intelligence and forget it.  Let him administer the promotion the best he can.  Maxmint has won the faith of many - I don't know whether he could operate to serve this task also.  But in any case, you can't do it.  You need to give your energy to the next contest.  

I also think you could leverage these ~400 to make a second contest.  Again, someone else could administer it.  But, when many people are competing for these funds, we'll produce a much bigger overall effect.  Forget tweets - well directed press releases are the way to go.  When those land on the right journalists, we will get plenty of the attention we could use.

I agree about maxmint. I'd like to give him first shot at running this. Having lots of people run it might be . . . chaotic

Max does not deserve the punishment of running a giveaway.

True enough.  But he didn't deserve the punishment of running a manual exchange either and he did a hell of a good job with that.  This guy: buymastercoin.com had big ambition to make a market and produced nothing.  Max now has a track record.  

btw, have you noticed that when max is active, the order book and message flow and completed transactions naturally take off and go crazy - and the minute max leaves, the market dies until tomorrow?  The market is really fun and dynamic, so long as Max is hooking everyone up with transaction help.   Once that guy goes to sleep - nothing gets done.

[Luckybit]

I vote for Maxmint handling the giveaway!

And his must hire an assistant for the escrow and start charging standard fees.

I agree. If one person must do the giveaway then Maxmint is the most trusted person under than JR.
But if Maxmint does not have the time then we can still do the giveaway. For instance we could give out MSC to whoever comes up with the best phrase to describe MSC. We could give out MSC to whomever comes up with a funny meme and so on.

True enough.  But he didn't deserve the punishment of running a manual exchange either and he did a hell of a good job with that.  This guy: buymastercoin.com had big ambition to make a market and produced nothing.  Max now has a track record.  

btw, have you noticed that when max is active, the order book and message flow and completed transactions naturally take off and go crazy - and the minute max leaves, the market dies until tomorrow?  The market is really fun and dynamic, so long as Max is hooking everyone up with transaction help.   Once that guy goes to sleep - nothing gets done.

That is why I said we should have more than one person do it. If its a very time consuming job then when one person goes to sleep or takes a break another can fill in. It might be chaotic but it would work and probably wouldn't be too difficult.

[HammerFist]

Poor maxmint. He's already really busy with all your trades. Sorry maxmint - feel free to say no!
If he can't do this, it will be time constraints, not intelligence constraints.

JR - Max rose up above and beyond to make a market for us all.  Our tips were good, but definitely did not adequately compensate him.  If there is another pool of MSC to be distributed for the good of the project, I'd vote that Max takes a few of those because on his own volition he did make an interesting trading desk which works pretty well.  This is a great benefit to us all until the real exchange is operational.  

Those tips don't come close to what it is worth to us all to have a nice functional market today.  I'd be very disappointed if you didn't agree with me that his effort is worth about 100 - 200 MSC.  I hope the promotional pool isn't the only remaining give-a-way coin you've got.  Is it?

For instance we could give out MSC to whoever comes up with the best phrase to describe MSC. We could give out MSC to whomever comes up with a funny meme and so on.

I am certain you won't be running this campaign. 

[maxmint]

Poor maxmint. He's already really busy with all your trades. Sorry maxmint - feel free to say no!

If he can't do this, it will be time constraints, not intelligence constraints.

Guys, I'm really honoured by the trust you have in me but I'll have to pass on this. Truth is that I just don't have the time to run this.
Handling the order book and escrows is more than enough for me at the moment. Like many others I do have a full time job outside the Mastercoin world as well ...

[Luckybit]

Poor maxmint. He's already really busy with all your trades. Sorry maxmint - feel free to say no!
If he can't do this, it will be time constraints, not intelligence constraints.

JR - Max rose up above and beyond to make a market for us all.  Our tips were good, but definitely did not adequately compensate him.  If there is another pool of MSC to be distributed for the good of the project, I'd vote that Max takes a few of those because on his own volition he did make an interesting trading desk which works pretty well.  This is a great benefit to us all until the real exchange is operational.  

Those tips don't come close to what it is worth to us all to have a nice functional market today.  I'd be very disappointed if you didn't agree with me that his effort is worth about 100 - 200 MSC.  I hope the promotional pool isn't the only remaining give-a-way coin you've got.  Is it?

For instance we could give out MSC to whoever comes up with the best phrase to describe MSC. We could give out MSC to whomever comes up with a funny meme and so on.

I am certain you won't be running this campaign.  

Like I said before, I have 30 MSC and I have some time this week to distribute it. I don't think I should necessarily run the campaign but I'd be willing to contribute to it. Do you want to run it? Or are you just trying to keep me from running it?