[Ann] Safecoin maidsafecoin

[Chang Hum]

I´ve sent some BTC to the BTc ipo address. How can I see how many maidsafecoins are on the address now?

It's listed here just search for your bitcoin address http://www.mymastercoins.com/Investors.aspx?CurrencyID=3

My bitcoin address is not on the (short) list. 

Me neither.  Does this mean I didn't get any or it just hasn't been posted yet?

I have no idea what is going on. The list provided in the link above says that 455,948,702.00 have been accounted for. Yet the safecoin.io website says there was only 429,496,729 available for the IPO.

here is one address on that list:

1NpScs5QhqmSeV6FZUdGUFvVVfQGbuBV3Y    159681477

159681477 / 17000 = 9393.02 BTC

9393.02 BTC worth of MaidSafeCoin to one address ?? That is roughly US$4,600,000

WTF?

I haven't done the full maths because it's too complicated, but the bonus was on a sliding scale from 40% to 30% over the course of 7 days moving per block count. 20 million definitely seems like too much too account for in this way though, very worrying for holders at the top

Okay - either I am missing something or you are not understanding my point.

The IPO details on safecoin.io state that 429,496,729 maidsafecoins will be available for the IPO period.

The list of Mastcoin investors (http://www.mymastercoins.com/Investors.aspx?CurrencyID=3) indicates that 455,948,702 have already been distributed.

This means that already, just taking into account Mastercoin investment, they have distributed 26,451,973 MORE than the IPO stated were available.

Sorry see what you mean, I assumed you'd done the maths yourselves, no Idea about that fucking complicated to check too. Would like to know if that list is in order though in case some of us are up for the chop

[Chang Hum]

I missed the IPO announcement, and I am glad I did. I probably would have tried to buy MSC below 0.02 BTC and gotten screwed.

Not sure whether these guys are incompetent or scammers. Its clear though that MSC whales have made a killing.

I'd say a good 80% of the value of the IPO is in their pockets. You do have to question why david would pay an $8million fee for something that is available freely.

I'm confused - do you mean David Johnston of Mastercoin/Bitangels or David Irvine of MaidSafe/Safecoin?

David Irvine I suspect David Johnston is opening Champagne on his Yacht

[ethought]

As I understand, they had to create all safecoins before shutting down MSC acceptance (because of the way mastercoin protocol works). So, 1NpScs5QhqmSeV6FZUdGUFvVVfQGbuBV3Y (balance 159681477) is probably their own address. Now they will have to send safecoins from that address to BTC donors manually.

I repeat:

The list provided in the link above says that 455,948,702.00 have been accounted for. Yet the safecoin.io website says there was only 429,496,729 available for the IPO.

Does this mean there are no more MaidSafeCoins available for BTC investors?

Okay I had wondered if that was a possibility.

That does make more sense.

[Chang Hum]

As I understand, they had to create all safecoins before shutting down MSC acceptance (because of the way mastercoin protocol works). So, 1NpScs5QhqmSeV6FZUdGUFvVVfQGbuBV3Y (balance 159681477) is probably their own address. Now they will have to send safecoins from that address to BTC donors manually.

I repeat:

The list provided in the link above says that 455,948,702.00 have been accounted for. Yet the safecoin.io website says there was only 429,496,729 available for the IPO.

Does this mean there are no more MaidSafeCoins available for BTC investors?

Ah what you're saying is the final order placed can't be divided up by the auto issuance system. Because the protocol itself can't divide up the funds received so there's a spillover?

[liondani]

This is what we have done, it reduces the back office steps, ensures BTC backers are looked after and not squeezed out. MSC backers got in at almost equal footing as BTC (almost 50% / 50%) and we all win.

Yeah right, i don't think those buing MSC above 0.069 (current price of posting), which is almost EVERYONE, and didn't have time to get in as you slammed the door in their face share your thinking.

Then I was outside thinking and thinking, what is happening this is too fast, the MSC holders are at great advantage and BTC supporters are going to be disadvantaged a lot

One should do his "thinking and thinking" before taking action.
You provided a MSC rate above market price and were surprised most buys came through MSC? Giving automated buys for MSC and not for BTC was an extra bonus.I am afraid that your team is just incompetent and couldn't foresee the obvious. Best of luck. You'll need it.

I can't believe that people with zero knowledge about economics are making decisions for so much money involved!
I mean I hope they have no clue... because if they do, it is obvious it was aggreed under the table with the MasterCoins people....

So we have right now three scenarios:
1)maidsafe has no clue about economics so Mastershit Holders have take the advantage over all involved...
2)both have no clue about economics (so how the hell mastercoin holders managed to have so a huge advantage over others?)
3)both are experts so that means they are scammers and made an agreement under the table on how they play best each role without anybody can officialy claim it was organized/designed...

I want to vote scenario 1)
I don't even want to think about scenario 3)  

[davidpbrown]

A bit behind and trying to make sense of this..

Why don't they just release the 10% cap and honour the exchange for BTC and MSC suggested?.. or otherwise honour the commitment and do the math from timing of payments and lock out those that were too late??.. If MSC holders put the effort in and were quicker to transfer, why not go with that???... Some BTC transfers will have been OK relative to meeting the 10% limit. Disappointing for those that were late but this is a great offering by what has been detailed so far.. Still I don't understand the cap needs to be hard10% if there is already such strong demand.. Sell it all why not?

[Chang Hum]

A bit behind and trying to make sense of this..

Why don't they just release the 10% cap and honour the exchange for BTC and MSC suggested?.. or otherwise honour the commitment and do the math from timing of payments and lock out those that were too late??.. If MSC holders put the effort in and were quicker to transfer, why not go with that???... Some BTC transfers will have been OK relative to meeting the 10% limit. Disappointing for those that were late but this is a great offering by what has been detailed so far.. Still I don't understand the cap needs to be hard10% if there is already such strong demand.. Sell it all why not?

Then every single holder of mastercoin would make a claim, and value in the funds raised would be diluted to the point of being worthless. There's strong demand to dump mastercoin, and a lot of pre-arranged investment in bitcoin.

[evershawn]

So, the entire amount of crowd sale maidsafe coins (25k BTC worth), sold out within a few hours instead of 30 days.

I'm guessing if you were one of the lucky people that got a piece of that, you're about to have your money quadrupled instantly... holly smokes... never seen that much sell so fast...

[Chang Hum]

I just meant to say that they had to "buyout" safecoins for BTC donors by themselves before closing the IPO on mastercoin protocol. Why there are 455,948,702 instead of 429,496,729 safecoins I don't know. Probably every IPO purchase that gets in the same block as the transaction signifying the end of IPO is valid, so there is no way cut it at an exact amount of coins and there is always some "spillover".

As I understand, they had to create all safecoins before shutting down MSC acceptance (because of the way mastercoin protocol works). So, 1NpScs5QhqmSeV6FZUdGUFvVVfQGbuBV3Y (balance 159681477) is probably their own address. Now they will have to send safecoins from that address to BTC donors manually.

I repeat:

The list provided in the link above says that 455,948,702.00 have been accounted for. Yet the safecoin.io website says there was only 429,496,729 available for the IPO.

Does this mean there are no more MaidSafeCoins available for BTC investors?

Ah what you're saying is the final order placed can't be divided up by the auto issuance system. Because the protocol itself can't divide up the funds received so there's a spillover?

It's easy to give change on spillover with the simple manual system of exodus address, I just mean Mastercoin claim to have an automated system, and no way for an.... nah forget this line of convo I might well be talking shit here!

[Patel]

I think this MaidSafe pump is the last time in a while that people will be able to get out of MSC at these higher prices. MSC is going nowhere. It was flawed from the start by its distribution as well.

called it, lol price now in the 0.06ish

the question is, what are they going to do with the MSC they received for the IPO? MSC has no liquidity, and if they want to use it to pay for expenses, they are going to have to sell MSC for BTC/USD..

[FrictionlessCoin]

So, the entire amount of crowd sale maidsafe coins (25k BTC worth), sold out within a few hours instead of 30 days.

I'm guessing if you were one of the lucky people that got a piece of that, you're about to have your money quadrupled instantly... holly smokes... never seen that much sell so fast...

Is the sale already over?  The only way to buy maidsafecoin was to buy MSC?

[Chang Hum]

So, the entire amount of crowd sale maidsafe coins (25k BTC worth), sold out within a few hours instead of 30 days.

I'm guessing if you were one of the lucky people that got a piece of that, you're about to have your money quadrupled instantly... holly smokes... never seen that much sell so fast...

Earlier I was dying for a reason to have faith in humanity, now for a short while at least I hope there's not.   big profit maybe but would be happy to turn back time tbh feel like scum.

[davidpbrown]

Then every single holder of mastercoin would make a claim, and value in the funds raised would be diluted to the point of being worthless. There's strong demand to dump mastercoin, and a lot of pre-arranged investment in bitcoin.

Disclaimer: drunk
I don't understand that .. What claim?.. the timing of MSC relative to BTC is known..first come first served.

[Chang Hum]

I think this MaidSafe pump is the last time in a while that people will be able to get out of MSC at these higher prices. MSC is going nowhere. It was flawed from the start by its distribution as well.

called it, lol price now in the 0.06ish

the question is, what are they going to do with the MSC they received for the IPO?

They can get about 20k for them still on masterxchange bit of an odd swop for god knows how many million but each to their own.

[davidpbrown]

Safecoin website still inviting BTC .. They should really close that off, if it is over.. or open up MSC again if they want to sell more than just 10%.

I think some of this is a forgivable error, few of us expected such a rush. A bit off putting that there are some heavy hitters in with 1000's of coins and they should have anticipated the differential getting BTC converted manually but still its a big positive that so many people are seeing the value of what they are offering. Hopefully they will honour the commitment relative to the 10% or not ..no difference from the 10% limit I think.

[Chang Hum]

It says a lot about the people behind the project.

It's why I refer to them and the greedy mastercoin peole as cunts, people think I'm trolling when I'm just giving them the disrespect they deserve.
I'm a cunt too I started this thread to create interest to sell onto so I could warn people what was going on, but I knew that full well before my first round of greed fueled buying. The problem is when David said he was moving the price from .08 to .2 it was like saying if you stop trolling I'll buy you a house in 24 hours!

[danonthehill]

Safecoin website still inviting BTC .. They should really close that off, if it is over.. or open up MSC again if they want to sell more than just 10%.

I think some of this is a forgivable error, few of us expected such a rush. A bit off putting that there are some heavy hitters in with 1000's of coins and they should have anticipated the differential getting BTC converted manually but still its a big positive that so many people are seeing the value of what they are offering. Hopefully they will honour the commitment relative to the 10% or not ..no difference from the 10% limit I think.

Yeah, is this over or not?

[davidpbrown]

@ Chang Hum et al.. You can be sore at MSC holders if you want but Mastercoin worked.. too well as it happened. So they went the route offered, so what..why not. If you missed out or were unable to contribute, being envious of those that did the bleeding obvious won't change reality.

[uhoh]

So, the entire amount of crowd sale maidsafe coins (25k BTC worth), sold out within a few hours instead of 30 days.

I'm guessing if you were one of the lucky people that got a piece of that, you're about to have your money quadrupled instantly... holly smokes... never seen that much sell so fast...

Earlier I was dying for a reason to have faith in humanity, now for a short while at least I hope there's not.   big profit maybe but would be happy to turn back time tbh feel like scum.

There's 4000+BTC in the address, where does it say anywhere that the sale is over?

[evershawn]

Are you able to buy some? People been saying it's sold out.