The Official Mastercoin Foundation, Master Protocol & Mastercoin Thread

[littleblue]

http://blog.mastercoin.org/2014/06/03/upcoming-crowd-sales-worth-tens-of-millions-of-dollars/

UPCOMING CROWD-SALES WORTH TENS OF MILLIONS OF DOLLARS!

I am so SO excited to share with you our list of all crowd-sales we know of coming up.

I am proud to announce not one, not two, but NINE more crowd-sales planned for the next few months, all of which we expect to be HUGE – some on the order of the Maidsafe crowd-sale:

http://wiki.mastercoin.org/index.php/Upcoming_Crowdsales

The source of this list is David Johnston of BitAngels, and he of course has MORE crowd-sales in various stages of commitments to our protocol.

Folks, this is the benefit of having a major group of bitcoin angel investors backing your project and evangelizing it at conferences. The available VC money in our system attracts more projects!!

Our goal is to become the default choice for issuances of this sort, and as more issuers use our system, more issuers will WANT to use our system, because that is where the money and liquidity will be.

If you are planning a major crowd-sale using the Master Protocol, add your project to the wiki page above – this is the official list, and investors will be looking at it. Don’t get left out!

The best part is, all these new tokens will be tradeable against Mastercoin on our “meta” distributed exchange (look for a major announcement about the dEX soon!)

Most “bitcoin 2.0″ efforts have seen long-term price declines for awhile now, but IMHO the declines make no sense. We all know that one or more of these next gen efforts will eventually blast off through the stratosphere, and of course we intend to be that project!

If you are an investor interested in next-gen protocols, now is the time to choose your horse. Next-gen market caps have never been lower, and these are the technologies that will fulfill the “to the moon” potential of bitcoin (and of course Mastercoin expects to take bitcoin up with us).

See you on the moon, Master-minds!

really really well said！实干兴邦， 空谈误国。 希望msc有个美好的明天！加油，MSC!

[Bitoy]

https://archive.today/KWn2i

Thanks dexx.  

There are already 2 x  Genercoin (# 6 and #7) registered as a fixed token property, not as crowd sale.  
http://www.genercoin.org

This will probably use the latest crowd funding version that allows both btc and msc.

Edit
If this is the same genercoin in the upcoming crowd funding
http://www.genercoin.org/#!genercoin/c1g22

0.09 / Gener Coin
@660 usd / btc = 7333 Gener coins per btc.
@ 0.02 btc / msc = 147 Gener coins per msc

[freedomno1]

It's kind of cool to see a variety of crowdfunding efforts using the Mastercoin protocol

I guess we will see you on the moon  

http://blog.mastercoin.org/2014/06/03/upcoming-crowd-sales-worth-tens-of-millions-of-dollars/

I am proud to announce not one, not two, but NINE more crowd-sales planned for the next few months, all of which we expect to be HUGE – some on the order of the Maidsafe crowd-sale:

http://wiki.mastercoin.org/index.php/Upcoming_Crowdsales

See you on the moon, Master-minds!

[mishax1]

https://archive.today/KWn2i

Thanks dexx.   

There are already 2 x  Genercoin (# 6 and #7) registered as a fixed token property, not as crowd sale.   
http://www.genercoin.org

This will probably use the latest crowd funding version that allows both btc and msc.

Edit
If this is the same genercoin in the upcoming crowd funding
http://www.genercoin.org/#!genercoin/c1g22

0.09 / Gener Coin
@660 usd / btc = 7333 Gener coins per btc.
@ 0.02 btc / msc = 147 Gener coins per msc

A minimum purchase valued at 3 BTC is requested.   oh really ?

[Bitoy]

A minimum purchase valued at 3 BTC is requested.   oh really ?

I don't think they can enforce that.  (Crowd sale will allow any btc or msc amount.)

[littleblue]

Why is prophetx10 (Dominik Zynis) http://www.reddit.com/r/counterparty/ working for Counterparty as a moderator?

 

[littleblue]

Why is prophetx10 (Dominik Zynis) http://www.reddit.com/r/counterparty/ working for Counterparty as a moderator?

 

http://nl.reddit.com/r/mastercoin/comments/278sua/why_is_prophetx10_dominik_zynis/

[TraderTimm]

In light of the pending pump-and-dumps being planned for MSC, maybe a few quotes from the Forbes article is in order.

Source: http://www.forbes.com/sites/kashmirhill/2014/06/03/mastercoin-maidsafe-crowdsale/

Its full of interesting quotes, showing what a disaster MSC really is.

[Maidsafe] wound up with less than half that amount in usable money because the majority of its take was in an illiquid alternative crypto-coin, disastercoin, with a trading market so anemic it can’t be cashed out.

Oh? Well maybe things worked out then, right? Not really.

And its trading volume has been one of the lowest of the altcoins. It’s hard to sell it. “With $23,000, the price of a Honda Civic, you could crash the Mastercoin market to $0,” says Dan Held, founder of Bitcoin market information app ZeroBlock, and director of product for Blockchain, a Bitcoin wallet service. “Owners of Mastercoin are stuck holding an absolutely illiquid currency.”

That doesn't sound good... so Maidsafe is stuck with a bunch of coins it can't move? How "innovative". Did anyone see the danger of using an illiquid "currency"?

At least one person interested in the MaidSafe project tried to sound an alarm bell on a company forum before the sale. John Kypri, who is based in Thailand, warned that it was a huge business mistake, given Mastercoin the currency’s lack of liquidity and Mastercoin the company’s struggles as competitors like Ethereum enter the space. His criticisms were dismissed; MaidSafe employees said the majority of the sale would be for Bitcoin and David Johnston chimed in to defend Mastercoin and assured Kypri that trading volume would be increasing.

Ah, that is familiar, anyone who protests, much like I have about MSC in general - get dismissed and hand-waved away... seems like a pattern with the MSC devs and "frontmen".

So, any concluding thoughts? Lets hear from economist Daniel Krawisz, who summed up MSC's problems succinctly:

Appcoins are just copies of Bitcoin and make things more inconvenient because to use them, there are more transaction costs. You have to go through more barriers to be able to spend them,” says Krawisz by phone. “I can’t tell if the altcoin people are trying to deliberately scam people or just not thinking ahead to the logical conclusions of these schemes. They’re trying to hit another bubble. They regret not buying Bitcoin when they could have. So they want to replay it. It’s like replaying a childhood trauma to overcome it but you just make it worse.

And the final kicker:

Mastercoin has nine more crowd sales planned in coming months. Caveat crypto-emptor.

Yes, you'll end up holding an illiquid trading vehicle for a coin nearing its 1-year anniversary with very little to show for it.

[TKeenan]

Yes, you'll end up holding an illiquid trading vehicle for a coin nearing its 1-year anniversary with very little to show for it.

That's pretty funny.  I bought MSC at .01 last year and today they are worth .03.  That is 300% appreciation.  Can you please give me another investment so good as MSC? 

MSC is working hard on a kick-ass protocol.  They don't care one bit about the exchange and liquidity.  Those are private markets having nothing to do with protocol development.  If people buy and sell there, it has nothing to do with the money held by the foundation to hire programmers to continue their work to advance the protocol.  The foundation does indeed hope BTC price goes up so they have more money to pay others, but only the day traders give a flying fuck about the very meager trade activity in MasterXChange.  MasterXChange is no reflection whatever true value of the MastercoinProtocol.  Only a very tiny percentage of MSC holders participate in MasterXChange activity - and nearly all of those are kooks. 

MasterXChange doesn't reflect any true consensus of value - only those holding appreciable amounts of MSC could tell you that. 

TraderTimm - you sure spew out tons of shit.  Did you lose your wife's ring in this deal?

[crypto era]

Yes, you'll end up holding an illiquid trading vehicle for a coin nearing its 1-year anniversary with very little to show for it.

That's pretty funny.  I bought MSC at .01 last year and today they are worth .03.  That is 300% appreciation.  Can you please give me another investment so good as MSC? 

MSC is working hard on a kick-ass protocol.  They don't care one bit about the exchange and liquidity.  Those are private markets having nothing to do with protocol development.  If people buy and sell there, it has nothing to do with the money held by the foundation to hire programmers to continue their work to advance the protocol.  The foundation does indeed hope BTC price goes up so they have more money to pay others, but only the day traders give a flying fuck about the very meager trade activity in MasterXChange.  MasterXChange is no reflection whatever true value of the MastercoinProtocol.  Only a very tiny percentage of MSC holders participate in MasterXChange activity - and nearly all of those are kooks. 

MasterXChange doesn't reflect any true consensus of value - only those holding appreciable amounts of MSC could tell you that. 

TraderTimm - you sure spew out tons of shit.  Did you lose your wife's ring in this deal?

You took what TraderTimm said completely out of context. You nitpicked on one small thing he said and went off on a tangent. What he was doing was just commentating on sections of an article posted by Forbes. I guess they "spew out tons of shit" too. Having meager trade of your coin can show that a lot of people arn't coming into the project and getting there own coin. That being said it somewhat reflects true value. You really didn't say anything in your post.

[littleblue]

Yes, you'll end up holding an illiquid trading vehicle for a coin nearing its 1-year anniversary with very little to show for it.

That's pretty funny.  I bought MSC at .01 last year and today they are worth .03.  That is 300% appreciation.  Can you please give me another investment so good as MSC? 

I bought MSC at .18 a few days ago and today they are worth .03.    Can you please give me another investment so bad as MSC?  ！

[hmmmstrange]

I bought MSC at .18 a few days ago and today they are worth .03.    Can you please give me another investment so bad as MSC?  ！

Purchasing MSC from Ron via buymastercoins (Ron's friend) for 0.5 btc each.

[DGulari]

I bought MSC at .18 a few days ago and today they are worth .03.    Can you please give me another investment so bad as MSC?  ！

Purchasing MSC from Ron via buymastercoins (Ron's friend) for 0.5 btc each.

Nobody is that dumb. 

[DGulari]

Yes, you'll end up holding an illiquid trading vehicle for a coin nearing its 1-year anniversary with very little to show for it.

That's pretty funny.  I bought MSC at .01 last year and today they are worth .03.  That is 300% appreciation.  Can you please give me another investment so good as MSC? 

I bought MSC at .18 a few days ago and today they are worth .03.    Can you please give me another investment so bad as MSC?  ！

C'mon little blue: it works like this: buy low, sell high.  Today you need to buy tons of MSC.  Then, when it is at .18 again, you can resell.  Don't buy when it is high.  Buy now.

[hmmmstrange]

I bought MSC at .18 a few days ago and today they are worth .03.    Can you please give me another investment so bad as MSC?  ！

Purchasing MSC from Ron via buymastercoins (Ron's friend) for 0.5 btc each.

Nobody is that dumb. 

Might want to ask Ron how many coins he sold through buymastercoins, but that really is none of our business.

Trying to decide which is a more hilarious price, 0.02 or 0.5. We already know JR thinks 0.04 is hilarious.

[ejinte]

I bought MSC at .18 a few days ago and today they are worth .03.    Can you please give me another investment so bad as MSC?  ！

Purchasing MSC from Ron via buymastercoins (Ron's friend) for 0.5 btc each.

Nobody is that dumb. 

People are dumb they've been selling coins at 0.419.

[crazy_rabbit]

Um, looking at the upcoming crowdsales- some look good, but projects like "Genercoin" are not very inspiring- what with the lack of text formatting and the 'breaking bad' layout for their video. Ouch.

The other projects look better, but it begs the question- isn't crowdfunding with mastercoin itself a bit dangerous for a startup if the market is so thin? The whole point is to get money they can spend right now to fund development. But if you're funding development with an illiquid asset (which to be fair may be worth a a ginormous sum of money one day) and it's not worth much TODAY, aren't you kind of shooting yourself in the foot? Don't you really just need Bitcoin?

[vokain]

Um, looking at the upcoming crowdsales- some look good, but projects like "Genercoin" are not very inspiring- what with the lack of text formatting and the 'breaking bad' layout for their video. Ouch.

The other projects look better, but it begs the question- isn't crowdfunding with mastercoin itself a bit dangerous for a startup if the market is so thin? The whole point is to get money they can spend right now to fund development. But if you're funding development with an illiquid asset (which to be fair may be worth a a ginormous sum of money one day) and it's not worth much TODAY, aren't you kind of shooting yourself in the foot? Don't you really just need Bitcoin?

Hence the capability of the protocol managing bitcoin-direct fundraisers as well

[crazy_rabbit]

Um, looking at the upcoming crowdsales- some look good, but projects like "Genercoin" are not very inspiring- what with the lack of text formatting and the 'breaking bad' layout for their video. Ouch.

The other projects look better, but it begs the question- isn't crowdfunding with mastercoin itself a bit dangerous for a startup if the market is so thin? The whole point is to get money they can spend right now to fund development. But if you're funding development with an illiquid asset (which to be fair may be worth a a ginormous sum of money one day) and it's not worth much TODAY, aren't you kind of shooting yourself in the foot? Don't you really just need Bitcoin?

Hence the capability of the protocol managing bitcoin-direct fundraisers as well

How so? (serious question)

[vokain]

Um, looking at the upcoming crowdsales- some look good, but projects like "Genercoin" are not very inspiring- what with the lack of text formatting and the 'breaking bad' layout for their video. Ouch.

The other projects look better, but it begs the question- isn't crowdfunding with mastercoin itself a bit dangerous for a startup if the market is so thin? The whole point is to get money they can spend right now to fund development. But if you're funding development with an illiquid asset (which to be fair may be worth a a ginormous sum of money one day) and it's not worth much TODAY, aren't you kind of shooting yourself in the foot? Don't you really just need Bitcoin?

Hence the capability of the protocol managing bitcoin-direct fundraisers as well

How so? (serious question)

I'm trying to comb through my emails on zathras's (or was it Dexx's?? or Bitoy? no idea) github proposal on this...but I cannot find it amidst all the others. It was first brought up like a month ago though. IIRC it was a simple matter of doing so. I will reserve commenting on your question too much as I can't answer it without that text, so I apologize for that. I emailed zathras to make him aware of your question, though I'm sure he'd eventually see it anyway.

anyway, that was what the open request for feedback a few posts back was all about. We got it to pass with the board so that bitcoins can be raised directly.