MasterCoin Buyer/Seller Thread

[Herp]

The mastercoin destributed exchange in testing phase (which is basically open BETA now) beats the hell out of that crappy alpha implementation.

You tried them both and speak based on knowledge? -i guess not

until March you can test and learn a lot using the counterparty protocol.
I hope too that the mastercoin destributed exchange will be great to use.

Watch this please https://masterchest.info/walletdemo/ and tell me if that early pre-Alpha stuff they've got going comes close? Mastercoin has big early lead versus most of these other projects. So few people can see that for some reason and buy into hype and BS promises. Talk is cheap you know.

What you can see is just a UI. UI is the simplest part of a distributed exchange. Whether there's bugs or security issues needs to be tested extensively. Buying into a UI is not much different from buying into hypes and words. Counterparty is in early alpha, but at least we can see all the codes and everyone can contribute their efforts to improve it.

Everyone can contribute to Mastercoin also. They have plenty of MSC and Bitcoin bounties.

Be sure it's not just the UI. We'll find out soon enough this March.

[1714109986]

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[1714109986]

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[Herp]

Days left until the exchange goes live:

http://mastercointalk.org/index.php?topic=108.msg131#new

[Mk2vr6]

Not sure whether to invest or not... 

I've seen price fluctuate from $75 to $140 a couple of times in the past month or so.

[jeroenn13]

Not sure whether to invest or not...  

I've seen price fluctuate from $75 to $140 a couple of times in the past month or so.

Fluctuate between 75$ and 210$ you mean. They were 0.35 at masterxchange before.

[Mk2vr6]

Not sure whether to invest or not...  

I've seen price fluctuate from $75 to $140 a couple of times in the past month or so.

Fluctuate between 75$ and 210$ you mean. They were 0.35 at masterxchange before.

Never seen it hit $210!!??

Yeah, They went as low as 0.55 within the last 7 days.

Edit/ When did it hit $210?

[StarenseN]

Not sure whether to invest or not...  

I've seen price fluctuate from $75 to $140 a couple of times in the past month or so.

Fluctuate between 75$ and 210$ you mean. They were 0.35 at masterxchange before.

Never seen it hit $210!!??

Yeah, They went as low as 0.55 within the last 7 days.

Edit/ When did it hit $210?

0.3485 btc the 25th December. I'm the lucky one with the log

[BitThink]

The mastercoin destributed exchange in testing phase (which is basically open BETA now) beats the hell out of that crappy alpha implementation.

You tried them both and speak based on knowledge? -i guess not

until March you can test and learn a lot using the counterparty protocol.
I hope too that the mastercoin destributed exchange will be great to use.

Watch this please https://masterchest.info/walletdemo/ and tell me if that early pre-Alpha stuff they've got going comes close? Mastercoin has big early lead versus most of these other projects. So few people can see that for some reason and buy into hype and BS promises. Talk is cheap you know.

What you can see is just a UI. UI is the simplest part of a distributed exchange. Whether there's bugs or security issues needs to be tested extensively. Buying into a UI is not much different from buying into hypes and words. Counterparty is in early alpha, but at least we can see all the codes and everyone can contribute their efforts to improve it.

Everyone can contribute to Mastercoin also. They have plenty of MSC and Bitcoin bounties.

Be sure it's not just the UI. We'll find out soon enough this March.

I'm not saying it's just UI. I mean we can only see the UI, but not the code. We cannot judge the quality of this exchange by only looking at its UI. We have to know whether there are bugs and security issues, but we cannot know until the exchange is tested extensively.

Moreover, the reference implementation of Mastercoind will not be available soon, so we don't even know how accurate the core function, parsing the blockchain, is. I know there will be two developers work on the Mastercoind full time, but they will not be full time until April and only by then we can know when the Mastercoind will be ready.

The current low price is not just because of the massive selling of JR. The slow progress is the main reason. JR sold his holding because he did not have confidence to sell them at 1.7 in near future any more due to the competitions. This is said by himself in his first post about his selling and I believe that one more than the reasons he stated in later posts.

My Mastercoin friends,

Given all the competition we've seen in this field lately, I no longer feel I can afford to wait for a sky-high price I like before selling some Mastercoins and jumping into the fray full-time. (As you all know, I've never sold a single one of my own Mastercoins, and I've been persistently disdainful of the market price so far).

[Herp]

@BitThink

That's not what he said. He actually said exactly the opposite of how you interpreted it. The reason he didn't sell any until now was because he wanted higher price, more in line with Mastercoin's potential, but his presence was strongly required by the project, thus he had to sell now at this very low price so that he could quit his job.

You will find many other posts by him enforcing my point.

[BitThink]

@BitThink

That's not what he said. He actually said exactly the opposite of how you interpreted it. The reason he didn't sell any until now was because he wanted higher price, more in line with Mastercoin potential, but his presence was strongly required by the project, thus he had to sell now at this very low price so that he could quit his job.

You will find many other posts by him enforcing my point.

Ok, my understanding may be not accurate. Now I realized that JR is not satisfying with the slow progress himself and he want to become full time to improve it as soon as possible. Therefore, anyway my point is that the progress of Mastercoin is too slow and that is the main reason of current low price.

I invested more on MSC than XCP, so actually I really want to see the success of Mastercoin too. The current situation, however, disappointed me a lot. Think about how long the white paper has been published, how long the fund collection has been finished, and how many real solid codes have been done? Now look at the progress of XCP, which has no fund (at least no fund from the investors) at all and is just announced for 1 month. If only two developers can do so much in such a short period, is it reasonable for us to expect much more from the Mastercoin project?

[Herp]

@BitThink

That's not what he said. He actually said exactly the opposite of how you interpreted it. The reason he didn't sell any until now was because he wanted higher price, more in line with Mastercoin potential, but his presence was strongly required by the project, thus he had to sell now at this very low price so that he could quit his job.

You will find many other posts by him enforcing my point.

Ok, my interpretive may be not accurate. Now I realized that JR is not satisfying with the slow progress himself and he want to become full time to improve it as soon as possible.

Don't know how slow the project was versus others. The team did have quite some decent media presence, Ron Gross and David Johnston. Several appearances during Bitcoin conferences and Let's Talk Bitcoin shows. Of course, this is the visible side of things.

Sure, they could have focused more on the user friendliness and such but in a project such as this you have to prioritize.

Project going slow or fast wasn't the reason for JR, I think. Ron tried to convince him for a while that's worth quitting day job and focus on Mastercoin, since here is the real potential, not some crappy wage slave job, working for others. So he finally did that and project can move full sail ahead.

They just need a full time marketing guy, I'd say and more focus on user friendliness, not linux wallets 'n crap like that. Sure, they are important to have, but that's secondary. Mainstream adoption and getting as many people onboard as possible is more important.

[BitThink]

@BitThink

That's not what he said. He actually said exactly the opposite of how you interpreted it. The reason he didn't sell any until now was because he wanted higher price, more in line with Mastercoin potential, but his presence was strongly required by the project, thus he had to sell now at this very low price so that he could quit his job.

You will find many other posts by him enforcing my point.

Ok, my interpretive may be not accurate. Now I realized that JR is not satisfying with the slow progress himself and he want to become full time to improve it as soon as possible.

Don't know how slow the project was versus others. The team did have quite some decent media presence, Ron Gross and David Johnston. Several appearances during Bitcoin conferences and Let's Talk Bitcoin shows. Of course, this is the visible side of things.

Sure, they could have focused more on the user friendliness and such but in a project such as this you have to prioritize.

Project going slow or fast wasn't the reason for JR, I think. Ron tried to convince him for a while that's worth quitting day job and focus on Mastercoin, since here is the real potential, not some crappy wage slave job, working for others. So he finally did that and project can move full sail ahead.

They just need a full time marketing guy, I'd say and more focus on user friendliness, not linux wallets 'n crap like that. Sure, they are important to have, but that's secondary. Mainstream adoption and getting as many people onboard as possible is more important.

As you already pointed above, they talked too much (media presence, conference talk, ...) but there're much less real work on coding (there's not even official mastercoind) be done. All real codes are come from the community (Mastercoin-explorer, ...). Neither JR nor Ron is a professional programmer, and yet they decided to recruit full time developers only on last December.

[BitThink]

As you already pointed above, they talked too much (media presence, conference talk, ...) but there're much less real work on coding (there's not even official mastercoind) be done. All real codes are come from the community (Mastercoin-explorer, ...). Neither JR nor Ron is a professional programmer, and yet they decided to recruit full time developers only on last December.

Building a solid platform is the goal, not rushing to market to impress the trading community to pump up the price.  If you like the quick buck, go with one of the projects which are all glossy brochures like NXT.  

I am not sure whether you have got me wrong, because what I said was exactly there were too much marketing and too less work on a solid platform for Mastercoin.

Maybe you mean the slow progress is because they want to build a solid platform. Actually there's no code, let alone solid code. There're no one working on an official parsing program until Tachochima published his mastercoin-explorer. Then he and his friend was just recruited as full time developers last month, and they both said they cannot completely leave their current job until this February and the timeline of Mastercoind can only be determined then.

Moreover, the price of mastercoin was pumped from 0.01 to 0.25 when there's nothing solid available, and even a simple sending is troublesome. Do you think this is a good example for you to show 'Building a solid platform is the goal, not rushing to market to impress the trading community to pump up the price.'?

[peled1986]

As you already pointed above, they talked too much (media presence, conference talk, ...) but there're much less real work on coding (there's not even official mastercoind) be done. All real codes are come from the community (Mastercoin-explorer, ...). Neither JR nor Ron is a professional programmer, and yet they decided to recruit full time developers only on last December.

Building a solid platform is the goal, not rushing to market to impress the trading community to pump up the price.  If you like the quick buck, go with one of the projects which are all glossy brochures like NXT.  

I am not sure whether you have got me wrong, because what I said was exactly there were too much marketing and too less work on a solid platform for Mastercoin.

Maybe you mean the slow progress is because they want to build a solid platform. Actually there's no code, let alone solid code. There're no one working on an official parsing program until Tachochima published his mastercoin-explorer. Then he and his friend was just recruited as full time developers last month, and they both said they cannot completely leave their current job until this February and the timeline of Mastercoind can only be determined then.

Moreover, the price of mastercoin was pumped from 0.01 to 0.25 when there's nothing solid available, and even a simple sending is troublesome. Do you think this is a good example for you to show 'Building a solid platform is the goal, not rushing to market to impress the trading community to pump up the price.'?

BitThink i agree with every word. The good news is that J.R and MSC Foundation Team also agree with you and thus they are speeding things up. Competition is healthy for MSC.

[BitThink]

As you already pointed above, they talked too much (media presence, conference talk, ...) but there're much less real work on coding (there's not even official mastercoind) be done. All real codes are come from the community (Mastercoin-explorer, ...). Neither JR nor Ron is a professional programmer, and yet they decided to recruit full time developers only on last December.

Building a solid platform is the goal, not rushing to market to impress the trading community to pump up the price.  If you like the quick buck, go with one of the projects which are all glossy brochures like NXT.  

I am not sure whether you have got me wrong, because what I said was exactly there were too much marketing and too less work on a solid platform for Mastercoin.

Maybe you mean the slow progress is because they want to build a solid platform. Actually there's no code, let alone solid code. There're no one working on an official parsing program until Tachochima published his mastercoin-explorer. Then he and his friend was just recruited as full time developers last month, and they both said they cannot completely leave their current job until this February and the timeline of Mastercoind can only be determined then.

Moreover, the price of mastercoin was pumped from 0.01 to 0.25 when there's nothing solid available, and even a simple sending is troublesome. Do you think this is a good example for you to show 'Building a solid platform is the goal, not rushing to market to impress the trading community to pump up the price.'?

BitThink i agree with every word. The good news is that J.R and MSC Foundation Team also agree with you and thus they are speeding things up. Competition is healthy for MSC.

Thanks peled1986.

Actually I am not blaming anyone. The slow progress was just an unfortunate fact, and fortunately now both J.R and Ron have realized this and have recruited full time developers. Later is always better than never. I wish all the best to Mastercoin project, and actually I am one of the investors (a small one) myself.

[TKeenan]

Actually there's no code, let alone solid code.

Your credibility is zero.  There is code.  This proves your understanding of the situation is totally corrupt and biased towards complaining.  

They built four implementations - to rigorously prove the protocol produces the same result no matter who is interpreting the rule.  This took some time.  They ended up removing shitloads of ambiguities which could become problematic later.  

Now, with their experience getting stung by the bitchy public, they aren't going to release the DEx in such an 'alpha' state.  But rather, they will make the DEx a little more consumer ready on the release date.  This takes time.  

If you say one more time that the coders are not working hard, I am going to personally fly to your city and kick your ass.  They are all working double-overtime to make this thing work and raise the price of your miserable holdings.  You probably only own 3 MSC.  Now shut the fuck up and help by contributing to the project.  Whadda dick.

actually I am one of the investors (a small one) myself.

[stereotype]

Apparently, egocentrism is not the same as narcissism. Just love the thought provoking stuff on these threads sometimes. 

[peled1986]

Your credibility is zero.  There is code.  

I am sure BitThink knows there is code at work. His point was that he thinks progress could have been faster. Do you disagree? I think even J.R will agree to that, he left his job to speed development. From the Master Protocol Developer Updates it does seem that the developers are working double-overtime.

[SyRenity]

As you already pointed above, they talked too much (media presence, conference talk, ...) but there're much less real work on coding (there's not even official mastercoind) be done. All real codes are come from the community (Mastercoin-explorer, ...). Neither JR nor Ron is a professional programmer, and yet they decided to recruit full time developers only on last December.

Just a correction to above, both are professional and experienced developers, holding advanced CS degrees. I don't know J.R. personally, but I can attest that Ron has a rich resume (including position at Google), so it would be incorrect to label them as such.

Management is a bit different animal, and while it indeed took them a little time to get started, I expect that competition with XCP and other 2nd gen's will only be for the benefit of the MSC community.

I prefer to think of MSC as long-term start-up, similar in it's approach to Google, which prefers long term revenues over short-term gains, stably increasing the MSC price over time. Time will tell how well this approach works in the frenzied crypto world.

[romerun]

To be fair XCP was also a hurry launch, counterpartyd code can barely held together. Their approach is to release alpha product and let users test with real xcp. Reference client shouldn't be done in python as library dependency issues, plus it's not type safe, the client has been crashing many times due to runtime exceptions, silly bugs, etc. I hope the community help rebuilding it as something self-contained like a jar package.

[BitThink]

Actually there's no code, let alone solid code.

Your credibility is zero.  There is code.  This proves your understanding of the situation is totally corrupt and biased towards complaining.  

They built four implementations - to rigorously prove the protocol produces the same result no matter who is interpreting the rule.  This took some time.  They ended up removing shitloads of ambiguities which could become problematic later.  

Now, with their experience getting stung by the bitchy public, they aren't going to release the DEx in such an 'alpha' state.  But rather, they will make the DEx a little more consumer ready on the release date.  This takes time.  

If you say one more time that the coders are not working hard, I am going to personally fly to your city and kick your ass.  They are all working double-overtime to make this thing work and raise the price of your miserable holdings.  You probably only own 3 MSC.  Now shut the fuck up and help by contributing to the project.  Whadda dick.

actually I am one of the investors (a small one) myself.

Don't get me wrong. I'm not saying anything like the developers are not working hard. I'm just saying they could be hired full time long ago and then the progress could be much faster. In that case, the Dex would've not been in an 'alpha' state at all.

I respect all the developers of Mastercoin for their hard working, but remember they were doing their hard working within their precious leisure time. They can only have the chance to leave their day jobs now. The four implementations you mentioned were all come from community, not by full time developers. Some of them are even not for bounties. I credit those to the great community, rather than the foundation which has more than enough funds.

When I said there's no code, I mean the reference implementation of Mastercoind (written in Go). I know Tachicoma and his friend will work on it, but since they haven't left their previous jobs yet, so I don't think there're much progress yet. I will be happy if I am wrong.

BTW, I don't like personal attacking like you did. I own significantly more than 3 MSC, but that does not matter. Owning more MSC will not make my statement true, less not make it false. I just try to evaluate the current situation as objective as I can. No hype and no FUD.