MasterCoin Buyer/Seller Thread

[jeroenn13]

1. Someone succeeded in exploiting a vulnerability in a MSC exchange site? or a feature of MSC itself? please explain

No, nobody succeeded to exploit the MSC exchange site. Not in MSC or anything.

[DarkEmi]

I had a few phones call today with inbox which gave us a 100% verified identity, ID & proof of residency, which of course we will not disclose with anyone.

We have unfrozen his 262.71142052 MSC and put them in a new account of his choice.

There is enought reasonnable doubt that inbox was indeed good willed to trust that all this was a huge misunderstanding.

We thank him for his good willingness in the resolution of this issue and hope he will not have hard feelings.

[inbox]

I had a few phones call today with inbox which gave us a 100% verified identity, ID & proof of residency, which of course we will not disclose with anyone.

We have unfrozen his 262.71142052 MSC and put them in a new account of his choice.

There is enought reasonnable doubt that inbox was indeed good willed to trust that all this was a huge misunderstanding.

We thank him for his good willingness in the resolution of this issue and hope he will not have hard feelings.

Thank you Emilien for the resolution. No hard feelings, I hope this will not hinder the reputation I had/have here. Many users were quick to jump to conclusions.
In the future I will try to do a better job with the disclosure.

Big thanks to Eldido/Adrien also.

[DarkEmi]

I think we painted you as a thief a bit too fast

Thank for collaborating towards a resolution. Now you are identified somewhere so that should be reassuring to people trading with you.

Emilien

[crazy_rabbit]

Who the heck is moderating this thread? All this name calling sucks: crime-in-progress or not. Also for timelines, accusations, etc.. make a new freaking thread and just link to it. Not only will it help Mastercoin by filling more of the 'noise-space' of alt-coin land, it will keep threads like this clear for others.

I'm not sure how long many of the people in this thread have been around in bitcoin talk land, but lots of great projects were permanently derailed because of people getting worked up. Take it to your own thread if it has to be said, but don't pollute the main mastercoin threads so that all anyone see's when they come to check out mastercoin is name calling.

[Chainsaw]

Who the heck is moderating this thread? All this name calling sucks: crime-in-progress or not. Also for timelines, accusations, etc.. make a new freaking thread and just link to it. Not only will it help Mastercoin by filling more of the 'noise-space' of alt-coin land, it will keep threads like this clear for others.

I'm not sure how long many of the people in this thread have been around in bitcoin talk land, but lots of great projects were permanently derailed because of people getting worked up. Take it to your own thread if it has to be said, but don't pollute the main mastercoin threads so that all anyone see's when they come to check out mastercoin is name calling.

100% agreed. When I evaluated Mastercoin, it beat the competition for the following reasons:
-Internal support within the Bitcoin community.
-Massive funding advantage.
-The right features, done the right way.

In my view, the problem called out above overrides all those reasons, and puts the entire project at risk.
In the months since I have been invested, I have found myself less motivated and enthused day by day. That has nothing to do with the benefits above, and everything to do with the toxic culture permeating the project.  Projects do not, cannot succeed amidst such dysfunction.

[crazy_rabbit]

Who the heck is moderating this thread? All this name calling sucks: crime-in-progress or not. Also for timelines, accusations, etc.. make a new freaking thread and just link to it. Not only will it help Mastercoin by filling more of the 'noise-space' of alt-coin land, it will keep threads like this clear for others.

I'm not sure how long many of the people in this thread have been around in bitcoin talk land, but lots of great projects were permanently derailed because of people getting worked up. Take it to your own thread if it has to be said, but don't pollute the main mastercoin threads so that all anyone see's when they come to check out mastercoin is name calling.

100% agreed. When I evaluated Mastercoin, it beat the competition for the following reasons:
-Internal support within the Bitcoin community.
-Massive funding advantage.
-The right features, done the right way.

In my view, the problem called out above overrides all those reasons, and puts the entire project at risk.
In the months since I have been invested, I have found myself less motivated and enthused day by day. That has nothing to do with the benefits above, and everything to do with the toxic culture permeating the project.  Projects do not, cannot succeed amidst such dysfunction.

Well fortunately this is a fairly easy problem to fix. Heavily moderate "official looking" threads. People are free to make as many threads as they like and talk about what ever nonsense the subforum mod lets them do. But I think it's important that 'official looking' threads are kept on topic and clear of the bickering.

[ofer]

Few words to the sellers:

Few days ago the price at masterxchange.com was 0.26. The total amount of buy orders was about 40 MSC.
Then someone posted 200 MSC at a lower price and another posted 100 in a lower price again and so on.

I mean, come on...
It is a free world of cause and anyone can do whatever they want, but people! think before you do stupid things...

Unless you need the money for some urgent stuff, please, sell 10/20 at a time.
You will get much more and you will only need to wait one or two weeks.

MSC still doesn't have the sufficient eco system. It is like a new company that just raised its money.
Companies at this phase are not traded on stock exchanges in the old economy.
Shareholders are expected to be responsible and reasonable.

What do you think will happen if JR Willet for example will decide to sell all his MSC at once?

If you look for quick money - go play with dogecoins or nxt.

[hennessyhemp]

Who the heck is moderating this thread? All this name calling sucks: crime-in-progress or not. Also for timelines, accusations, etc.. make a new freaking thread and just link to it. Not only will it help Mastercoin by filling more of the 'noise-space' of alt-coin land, it will keep threads like this clear for others.

I'm not sure how long many of the people in this thread have been around in bitcoin talk land, but lots of great projects were permanently derailed because of people getting worked up. Take it to your own thread if it has to be said, but don't pollute the main mastercoin threads so that all anyone see's when they come to check out mastercoin is name calling.

100% agreed. When I evaluated Mastercoin, it beat the competition for the following reasons:
-Internal support within the Bitcoin community.
-Massive funding advantage.
-The right features, done the right way.

In my view, the problem called out above overrides all those reasons, and puts the entire project at risk.
In the months since I have been invested, I have found myself less motivated and enthused day by day. That has nothing to do with the benefits above, and everything to do with the toxic culture permeating the project.  Projects do not, cannot succeed amidst such dysfunction.

Well fortunately this is a fairly easy problem to fix. Heavily moderate "official looking" threads. People are free to make as many threads as they like and talk about what ever nonsense the subforum mod lets them do. But I think it's important that 'official looking' threads are kept on topic and clear of the bickering.

Couldn't agree more...now can we get back to discussing the features of Mastercoin?  I really wish the discussion was surrounding how to issue/broadcast user currencies and smart properties.  This is the true goldmine underlying Mastercoin, trading Mastercoins will eventually seem royally stupid, much like Bitcoin I operate from a "Gotta catch 'em all" mentality...or at least the more I have today the better off I'll be tomorrow.

Have any user currencies or smart properties been issued already?  If so, are they live on the network, or are they tests?  I'm really interested in playing with the protocol layer and helping in whatever way I can on this project.  Hopefully it helps me profit enough to own and operate a hemp farm in America, and if there's a way to add commodities like hemp as an option, I would love to get in on that now.

[watuba]

Few words to the sellers:

Few days ago the price at masterxchange.com was 0.26. The total amount of buy orders was about 40 MSC.
Then someone posted 200 MSC at a lower price and another posted 100 in a lower price again and so on.

I mean, come on...
It is a free world of cause and anyone can do whatever they want, but people! think before you do stupid things...

Unless you need the money for some urgent stuff, please, sell 10/20 at a time.
You will get much more and you will only need to wait one or two weeks.

MSC still doesn't have the sufficient eco system. It is like a new company that just raised its money.
Companies at this phase are not traded on stock exchanges in the old economy.
Shareholders are expected to be responsible and reasonable.

What do you think will happen if JR Willet for example will decide to sell all his MSC at once?

If you look for quick money - go play with dogecoins or nxt.

+1

+2
And don't compete like crazy for the best selling price just because your order hasn't gotten filled in the last day or so.  Think about what they're actually worth.  It's not like your order is going to get bought any quicker because the lowest price is .2 or .26.  There is a limited supply of buyers and sellers, so don't be retarded and compete for the lowest price.  Just relax until a buyer comes along.

[td services]

I suspect some players are trying to deliberately manipulate the market since it is thinly traded compared to other crypto assets with the same order of market cap - Ripple and Mastercoin have about 1/10 or less of the trading volume of NXT, Bitcoin, Litecoin, etc.

It seems market cap is not a very good indicator of the total value of the asset in circulation since it doesn't account for the ability of the market to absorb a sell-off. I suspect NXT is actually a lot less resistant to a sell-off than Litecoin, so it's actual total value is a lot less than what simple market cap indicates.

[utopianfuture]

Few words to the sellers:

Few days ago the price at masterxchange.com was 0.26. The total amount of buy orders was about 40 MSC.
Then someone posted 200 MSC at a lower price and another posted 100 in a lower price again and so on.

I mean, come on...
It is a free world of cause and anyone can do whatever they want, but people! think before you do stupid things...

Unless you need the money for some urgent stuff, please, sell 10/20 at a time.
You will get much more and you will only need to wait one or two weeks.

MSC still doesn't have the sufficient eco system. It is like a new company that just raised its money.
Companies at this phase are not traded on stock exchanges in the old economy.
Shareholders are expected to be responsible and reasonable.

What do you think will happen if JR Willet for example will decide to sell all his MSC at once?

If you look for quick money - go play with dogecoins or nxt.

+1

+2

+3

Sound like a Titanic scene.

[td services]

Did the NXT source code get released today? I couldn't find any mention of it anywhere, checked download site for client as well as Bitcointalk threads.

[littleblue]

Did the NXT source code get released today? I couldn't find any mention of it anywhere, checked download site for client as well as Bitcointalk threads.

This is  MSC, Who care of nxt. give a damn to nxt.

[TKeenan]

Did the NXT source code get released today? I couldn't find any mention of it anywhere, checked download site for client as well as Bitcointalk threads.

This is  MSC, Who care of nxt. give a damn to nxt.

I heard NXT is a scam - no?  What is the story on that project?

[peled1986]

"The promotion is ended and we now charges our regular 0.9% fee upon trades".

Trade volume is really low. I don’t think the higher fee is the cause but it sure does not help.

DarkEmi i still hope you will reconsider.

[jeroenn13]

"The promotion is ended and we now charges our regular 0.9% fee upon trades".

Trade volume is really low. I don’t think the higher fee is the cause but it sure does not help.

DarkEmi i still hope you will reconsider.

Exactly, trading volume is extremely low again.
Reconsider to change it.

[ElDido]

The volume has been low for a few days now and didn't get lower when the promotion ended so it appears it doesn't have much influence for now.

[peled1986]

The volume has been low for a few days now and didn't get lower when the promotion ended so it appears it doesn't have much influence for now.

Is it possible that the fee will change automatically based on trading volume? – Just an idea.
I think it is very important to incentives trading. When the volume is so low the exchange losses its main advantage.


Selling 60 MSC @ 0.2 (small amounts are ok)

Maxmint as escrow - pm me if interested.

no withdraw time, No fees    

[TKeenan]

Exactly, trading volume is extremely low again.
Reconsider to change it.

Why bother pissing people off now?  Why not run the exchange with no fees until there is raging volume and EVERTONE always trades on that exchange - and then sock it to them?  I for one won't be posting any more orders there. 

What about the orders already posted?  Do those orders escape the increased fees?  Does the new fee schedule apply to orders posted - or just to the newly posted orders?