Mcoin.io – self service Mastercoin order book

[maxmint]

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.

[milkyman]

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 :/

more questions:

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

- Why can't I make a pre-funded MSC buy-order?

[maxmint]

milkyman, thanks for your interest and your questions / comments.

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?

Your receiving Mastercoin address is required, this should be enough info to complete a trade. Mastercoins then can be sent to this address and the deal is done – no need to contact you.
I know that many people do have privacy concerns so I made the email field optional.

- 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.

I was thinking about this as well. The problem is that most people don't know how to send from just one specific address. It's more than likely that multiple addresses / outputs get involved when sending Bitcoins and this could cause confusion.

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

No, currently you can only buy the whole lot of Mastercoins from a prefunded order. I might change that in the future but for now it would be too complicated.

Or do these things appear later after I would have pressed the "Buy Now" butten? I didn't dare to press it :/

No fear, just press the button It will send you to a BitPay payment page where you can re-check all data before making a payment.

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

There's a 1% success fee for prefunded orders. Everything else (including my escrow service) is free of charge.

- Why can't I make a pre-funded MSC buy-order?

You might be able to do so in the future, but as the site is quite new I want to focus on some important features at first.

[StarenseN]

Following

[bitlo]

It would be cool if the buyer/seller forum name linked to the PM screen for that username

[maxmint]

It would be cool if the buyer/seller forum name linked to the PM screen for that username

Yes, that would be helpful - thanks for the suggestion.
The problem is that the "Send message" page at bitcointalk is not linked to the actual username but to a user number.
E.g. your's looks like this: https://bitcointalk.org/index.php?action=pm;sa=send;u=167171
So when creating a new order users would have to enter their user id number as well.
I might make this an optional field in the form.

[maxmint]

Important update: I was using Bitpay as payment processor for "Buy now" orders on the site. Unfortunately, they don't want me to use their service, I just received this email:

We are a payment gateway not intended for the use of exchanging cash or cash equivalents. The sale/exchange of currencies using our services is not permitted.

So I have to modify the site and switch to another payment system. I took all prefunded ("Buy now") orders offline for now and will put them online again as soon as the new payment system is in place. If you currently have a prefunded order you can of course request your Mastercoins to be sent back, just send me a PM.

[nanobit]

Important update: I was using Bitpay as payment processor for "Buy now" orders on the site. Unfortunately, they don't want me to use their service, I just received this email:

We are a payment gateway not intended for the use of exchanging cash or cash equivalents. The sale/exchange of currencies using our services is not permitted.

So I have to modify the site and switch to another payment system. I took all prefunded ("Buy now") orders offline for now and will put them online again as soon as the new payment system is in place. If you currently have a prefunded order you can of course request your Mastercoins to be sent back, just send me a PM.

If user A sends (prefunds) MSC, and user B sends BTC, what part of the trade requires the use of Bitpay?

[maxmint]

Important update: I was using Bitpay as payment processor for "Buy now" orders on the site. Unfortunately, they don't want me to use their service, I just received this email:

We are a payment gateway not intended for the use of exchanging cash or cash equivalents. The sale/exchange of currencies using our services is not permitted.

So I have to modify the site and switch to another payment system. I took all prefunded ("Buy now") orders offline for now and will put them online again as soon as the new payment system is in place. If you currently have a prefunded order you can of course request your Mastercoins to be sent back, just send me a PM.

If user A sends (prefunds) MSC, and user B sends BTC, what part of the trade requires the use of Bitpay?

Bitpay is not necessarily required. But it was nice to use since it sent a callback to the website after a successful payment. Then the order was automatically removed from the order book. This took away some work I would have to do manually otherwise.

[nastybit]

Thank you, I will give it a try thanks
Hopefully they will come out with a Distributed Exchange soon

[nanobit]

Important update: I was using Bitpay as payment processor for "Buy now" orders on the site. Unfortunately, they don't want me to use their service, I just received this email:

We are a payment gateway not intended for the use of exchanging cash or cash equivalents. The sale/exchange of currencies using our services is not permitted.

So I have to modify the site and switch to another payment system. I took all prefunded ("Buy now") orders offline for now and will put them online again as soon as the new payment system is in place. If you currently have a prefunded order you can of course request your Mastercoins to be sent back, just send me a PM.

If user A sends (prefunds) MSC, and user B sends BTC, what part of the trade requires the use of Bitpay?

Bitpay is not necessarily required. But it was nice to use since it sent a callback to the website after a successful payment. Then the order was automatically removed from the order book. This took away some work I would have to do manually otherwise.

Instead of just taking prefunded orders offline, wouldn't it be more fair to add them manually to the list at least as normal, non-prefunded quotes? Isn't the current setup really unfair to the people who used prefunding?

[maxmint]

Prefunded orders are now online again, everything should be working again.