The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread

[hmmmstrange]

You know, in light of whats happening with Ripple, I think it would be a good time to make some rules/clarifications regarding JR's stash. I've said it before and I'll say it again- I'm totally happy with JR having a crap load of Mastercoins. Nothing makes me happier then a) him having incentive to keep working b) it being build on Bitcoin so thus not being a distraction. Maybe I've love to have more Mastercoins myself, but he did PAY for them with over 1K of BTC which would have had him riding pretty high in the real world had he not invested them. (Can he get them back out?)

That said, maybe just clarify for everyone your intentions for the future? So we don't have to deal with a Ripple-esque shit storm some point in the future?

thanks!

"Judge people by their actions not by their words"

JR's actions went against his words. I do not blame him for this but it does shed light on his true nature. You just can't trust him. It doesn't mean he's a bad guy. Anyone investing in mastercoins has to consider the real possibility that JR will announce he'll dump all his coins at any given moment.

Until there is a means of him time locking his coins, we just have to keep, in the back of our minds, his previous actions.

P.S.

I seem to remember JR mentioning before the IPO, he would not be buying in during the beginning of the IPO, but towards the end, as to not accept a large bonus. He also went against his words and bought in on the second or third day.

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[mr_random]

What % of MSC does JR own?

[hmmmstrange]

What % of MSC does JR own?

31.08%

Plus the board controls an additional 10%

[Kalkuuuta]

What % of MSC does JR own?

31.08%

Plus the board controls an additional 10%

So this mean in theory that he can (and) keep price up when real price is like $6-$12, if look how development and mastercoin project go forward..

[jeroenn13]

What % of MSC does JR own?

31.08%

Plus the board controls an additional 10%

So this mean in theory that he can (and) keep price up when real price is like $6-$12, if look how development and mastercoin project go forward..

Probably, but also means satoshi can do this with Bitcoin.
Not a big deal. Dacoin paid for it.

[dexX7]

So this mean in theory that he can (and) keep price up

How? I mean.. wouldn't he require lots of fiat instead of coins to buy the price up?

[hmmmstrange]

So this mean in theory that he can (and) keep price up

How? I mean.. wouldn't he require lots of fiat instead of coins to buy the price up?

In theory he keeps the price inflated by not selling.

Satoshi, at most, owns 8% of the bitcoin in circulation. Jed owns/owned 9% of the xrp. You can now appreciate the position JR is in, owning 31% of msc.

Personally I think JR should burn his 40% bonus coins, but in reality, it doesnt make much of a difference overall. He'll never be able to sell a majority of his coins.

[atengzt]

Any news from MSC foundation and omniwallet?

[mikewirth]

Any news from MSC foundation and omniwallet?

While Ron announces his 'personal assistant' - the project is now dead.  MSC is finished.  Killed by incompetence.

[editor499]

It takes 7 guys 3 months to fix email?  Mastercoiner form is dead.  No wonder there is no interest in this stupid coin.

Nothing but total silence for so long.  The MSC project is over.  Dead.

While Ron announces his 'personal assistant' - the project is now dead.  MSC is finished.  Killed by incompetence.

Hey, mikewirth, what's wrong with you?

[mikewirth]

It takes 7 guys 3 months to fix email?  Mastercoiner form is dead.  No wonder there is no interest in this stupid coin.

Nothing but total silence for so long.  The MSC project is over.  Dead.

While Ron announces his 'personal assistant' - the project is now dead.  MSC is finished.  Killed by incompetence.

Hey, mikewirth, what's wrong with you?

Tired of hoping something would come of MSC project.  Damn thing is nothing but disappointment.  What is wrong with you?

[editor499]

It takes 7 guys 3 months to fix email?  Mastercoiner form is dead.  No wonder there is no interest in this stupid coin.

Nothing but total silence for so long.  The MSC project is over.  Dead.

While Ron announces his 'personal assistant' - the project is now dead.  MSC is finished.  Killed by incompetence.

Hey, mikewirth, what's wrong with you?

Tired of hoping something would come of MSC project.  Damn thing is nothing but disappointment.  What is wrong with you?

Please stop screaming.

We can do something good to the MSC project, not just waiting.

For example, vote for Mastercoin ( https://hitbtc.com/vote ) or take part in the projects testing.

[mikewirth]

It takes 7 guys 3 months to fix email?  Mastercoiner form is dead.  No wonder there is no interest in this stupid coin.

Nothing but total silence for so long.  The MSC project is over.  Dead.

While Ron announces his 'personal assistant' - the project is now dead.  MSC is finished.  Killed by incompetence.

Hey, mikewirth, what's wrong with you?

Tired of hoping something would come of MSC project.  Damn thing is nothing but disappointment.  What is wrong with you?

Please stop screaming.

We can do something good to the MSC project, not just waiting.

For example, vote for Mastercoin ( https://hitbtc.com/vote ) or take part in the projects testing.

THIS IS SCREAMING - ASSHOLE!   I wasn't screaming.  I am just trying to say MSC has died a miserable death.  No activity visible anywhere.  mastercoin.org is a desert.

[TraderTimm]

And finally, the realization sinks in...

Raised money does not equal instant success.

(Unless you've been drawing your pay from the pile of funds, I guess.)

[littleblue]

It takes 7 guys 3 months to fix email?  Mastercoiner form is dead.  No wonder there is no interest in this stupid coin.

Nothing but total silence for so long.  The MSC project is over.  Dead.

While Ron announces his 'personal assistant' - the project is now dead.  MSC is finished.  Killed by incompetence.

Hey, mikewirth, what's wrong with you?

Tired of hoping something would come of MSC project.  Damn thing is nothing but disappointment.  What is wrong with you?

Please stop screaming.

We can do something good to the MSC project, not just waiting.

For example, vote for Mastercoin ( https://hitbtc.com/vote ) or take part in the projects testing.

THIS IS SCREAMING - ASSHOLE!   I wasn't screaming.  I am just trying to say MSC has died a miserable death.  No activity visible anywhere.  mastercoin.org is a desert.

I think that  you are right！

[atengzt]

What a pity mastercoin, your guys just ruined a promising project due to your limited ability! Even though I just lost 80% of my savings and half of years, I can't image a team can't win a guy! Two weeks of omniwallet is just a joke! Goodbye, mastercoin, you are born on a irresponsible team who made a sadness to mastercoiners, who ... are ... son of b...

[littleblue]

What a pity mastercoin, your guys just ruined a promising project due to your limited ability! Even though I just lost 80% of my savings and half of years, I can't image a team can't win a guy! Two weeks of omniwallet is just a joke! Goodbye, mastercoin, you are born on a irresponsible team who made a sadness to mastercoiners, who ... are ... son of b...

i agree you，you are right！

[indiguy]

We have also added MasterCoin in our wiki. And now has it's own page on http://coinwik.org. A wikipedia listing all the alt coins to help everyone to quickly find facts and links about their favorite coin.

http://coinwik.org/MasterCoin

If you know of other facts and links that can be added to the page, please feel free to update the page.

[dacoinminster]

I see people here assuming I am selling. I AM NOT. I HAVE NOT. My last sale was in February to a private individual. I have NEVER sold on the open market.

I'm sticking with my plan which I announced in January: http://blog.mastercoin.org/2014/01/24/j-r-coming-full-time/

My only deviation from that plan is that I have NOT been using MSC to pay my expenses, because I haven't liked the price since then.

Our loose cannon, whom I mentioned earlier, had sold only 20% of his holdings the last time I checked in with him. I don't know if he caused this most recent drop, but it wouldn't surprise me. We had a rather acrimonious clash over this issue recently, and I don't plan to raise the issue again - it's outside my control.

We're working on improving Omniwallet, we have a cross-platform wallet proof-of-concept, and we have a dozen major projects releasing MSC tokens over the coming months (I heard David Johnston say he'll post the list soon). Our next major MSC feature will be distributed exchange between MSC and these tokens, which will have a double-sided order book and an inherently better user experience than BTC/MSC distributed exchange.

The current MSC price is just silly, IMHO, but I thought the same thing about bitcoin when it sunk from $30 to $5 in 2011, but it didn't bottom out until $2, so I obviously can't call a bottom precisely. I CAN say I feel sorry for people selling here. I consider them in the same light as the people who gave up on bitcoin in 2011.

[hmmmstrange]

I see people here assuming I am selling. I AM NOT. I HAVE NOT. My last sale was in February to a private individual. I have NEVER sold on the open market.

I'm sticking with my plan which I announced in January: http://blog.mastercoin.org/2014/01/24/j-r-coming-full-time/

My only deviation from that plan is that I have NOT been using MSC to pay my expenses, because I haven't liked the price since then.

Our loose cannon, whom I mentioned earlier, had sold only 20% of his holdings the last time I checked in with him. I don't know if he caused this most recent drop, but it wouldn't surprise me. We had a rather acrimonious clash over this issue recently, and I don't plan to raise the issue again - it's outside my control.

We're working on improving Omniwallet, we have a cross-platform wallet proof-of-concept, and we have a dozen major projects releasing MSC tokens over the coming months (I heard David Johnston say he'll post the list soon). Our next major MSC feature will be distributed exchange between MSC and these tokens, which will have a double-sided order book and an inherently better user experience than BTC/MSC distributed exchange.

The current MSC price is just silly, IMHO, but I thought the same thing about bitcoin when it sunk from $30 to $5 in 2011, but it didn't bottom out until $2, so I obviously can't call a bottom precisely. I CAN say I feel sorry for people selling here. I consider them in the same light as the people who gave up on bitcoin in 2011.

At what point will the foundation liquidate their assets and return them to the investors?