[Ann] Safecoin maidsafecoin

[drawingthesun]

It's hard to believe they've been looking at crypto currencies for 3 months as they don't seem to understand even the most basic things about them! looks like people are still buying them but not sure what will happen when the two 3rds of the market who got their coins for free join in the fun.

Sorry, what 2/3 of the market got MaidSafecoin for free?

[Chang Hum]

It's hard to believe they've been looking at crypto currencies for 3 months as they don't seem to understand even the most basic things about them! looks like people are still buying them but not sure what will happen when the two 3rds of the market who got their coins for free join in the fun.

Sorry, what 2/3 of the market got MaidSafecoin for free?

No worries, I'm implying Mastercoin were given 2 thirds of the market therefore I'm also implying Mastercoins are worthless (because they've just committed a serious fraud! among additional reasons )

I'll check the two thirds maths as was approx and off the top of my head:

456016401 Maidsafe were issued in exchange for 95801 Mastercoins (around 20%% of all existing!)

Maidsafe Received 7339 bitcoin which they exchanged for 174668200 maidsafecoins  

174668200/456016401 = .38   pretty close for a guess!!

[Djinou94]

Why is so expensive?

[18602981897]

Ripple does operate on the same thesis of Safecoin, in that they would 'release' coins but that never happened.

It's extremely unlikely Safecoin will release much of any of their 75% premine to the "farmers".  It's a real world corporation which has operating expenses and is looking for quick money, it makes no sense to pay 'farmers' anything beyond market rate for decentralized servers

[prophetx]

Ripple does operate on the same thesis of Safecoin, in that they would 'release' coins but that never happened.

It's extremely unlikely Safecoin will release much of any of their 75% premine to the "farmers".  It's a real world corporation which has operating expenses and is looking for quick money, it makes no sense to pay 'farmers' anything beyond market rate for decentralized servers

i suggest you read their whitepaper so that you may have the privilege of analysis rooted in actual facts

[sepehr]

Compairing the price paid by BTC and MSC Backers of Maidsafe IPO I find Out this:




I think MaidSafe team should take action and Pay to BTC Backers more Bonus to cover this unfair IPO, Period.

[Chang Hum]

Compairing the price paid by BTC and MSC Backers of Maidsafe IPO I find Out this:




I think MaidSafe team should take action and Pay to BTC Backers more Bonus to cover this unfair IPO, Period.

That image is actually out by a bit or a lot depending on how you look at it, you're damn right about one thing it wasn't a fair distribution it was a scandal!

Mastercoin traded at .06 before they started fiddling the price. Also the market depth (entire buyside of masterxchange) before their involvement on masterxchange was very small like $25k-$30k it's only  $46k now I just checked! Daily volume was around $500-$2k.

----------------------------------------------------------------------------------------------------------

The Mastercoin side of the crowdsource raised 281348201 in maidsafe coins
The Bitcoin side of the crowdsource raised 174668200 in maidsafe coins

38% of All maidsafes went to people who paid by Bitcoin directly in exchange for contributing Bitcoins that can be sold immediately for around $2.9 million usd  7339(raised bitcoin)*$400 (achievable bitcoin price for this kind of volume)

62% of all maidsafes went to people who paid by Mastercoin in exchange for contributing Mastercoins that can be sold immediately for around $46 Thousand Dollars (the entire current order book for mastercoins)

The contribution of technology is a null point as this is freely available using a system that would only accept Bitcoin.

Based on the above I think a much fairer valuation of Mastercoin taking into account market depth would be: 107 (That's the $46k in bitcoin)/281348201 (mastercoins raised -bitcoin bitcoin contribution). Unfortunately this figure is so minute, my google calculator can't put that many 0's after the decimal so I'll leave it for someone else to calculate! I can't be bothered as I can easily argue why Mastercoin is worthless.

If David needed to raise around $10 million originally and he's only ended up with $2.9million Investors should ask to see what he needed the money for, if he's got enough to proceed and if he's really got the intelligence to carry on with such an ambitious plan. To me it looks like the only thing they've got right is the marketing bullshit which is very impressive.

[richwang]

Compairing the price paid by BTC and MSC Backers of Maidsafe IPO I find Out this:




I think MaidSafe team should take action and Pay to BTC Backers more Bonus to cover this unfair IPO, Period.

You are right, MaidSafe team should pay more attention on this.

[Chang Hum]

Compairing the price paid by BTC and MSC Backers of Maidsafe IPO I find Out this:




I think MaidSafe team should take action and Pay to BTC Backers more Bonus to cover this unfair IPO, Period.

You are right, MaidSafe team should pay more attention on this.

Fucking brilliant, I understand now!! If you want people to understand simple concepts you have to draw them a fucking picture!

[voluntarist500]

is this on the free market yet? Fuck 25k btc ipo. Are you crazy? Bring it on exchange and let market decide what a good price is. Unbelievable 25k just for a video and a website. Ipo-investors must not be in their right mind.  25k for promises - wtf? Nobody learned?

an [ann] consisting of two links. wtf is going on?

[Chang Hum]

is this on the free market yet? Fuck 25k btc ipo. Are you crazy? Bring it on exchange and let market decide what a good price is. Unbelievable 25k just for a video and a website. Ipo-investors must not be in their right mind.  25k for promises - wtf? Nobody learned?

an [ann] consisting of two links. wtf is going on?

Which brings me on to my next point... Don't smoke crack!!

[Vandalay23]

Meanwhile, maidsafecoin entered coimarketcup listing at #10.

[fragout]

Compairing the price paid by BTC and MSC Backers of Maidsafe IPO I find Out this:




I think MaidSafe team should take action and Pay to BTC Backers more Bonus to cover this unfair IPO, Period.

You are right, MaidSafe team should pay more attention on this.

Fucking brilliant, I understand now!! If you want people to understand simple concepts you have to draw them a fucking picture!

I like pictures but I dont like what it shows. They should definatly reimburse BTC backers

[Rampion]

Why is so expensive?

Greed.

[Rampion]

I like pictures but I dont like what it shows. They should definatly reimburse BTC backers

If they had some decence, they definitely should. That said, it was pretty clear BTC backers were going to be ass-raped, so why investing BTC?

[dexX7]

I think MaidSafe team should take action and Pay to BTC Backers more Bonus to cover this unfair IPO, Period.

If you present data, please present it in a way it is comprehensible. What "average" price? The price of the dex or masterxchange? Weighted average or median? Over what timeframe? I outlined earlier that the amount of people who wanted to arbitrage BTC <> MSC <> MaidSafeCoin and may have failed was quite low compared to the overall volume and the harsh spike of the Mastercoin price also shows that the price of MSC "was not simply 0.08".  Furthermore the few Mastercoin users who were cought pants down, because they were not fast enough to buy MaifSafeCoins were offered via multiple channels from multiple people to buy MaidSafeCoins via MSC OTC.

If they had some decence, they definitely should. That said, it was pretty clear BTC backers were going to be ass-raped, so why investing BTC?

This. I would have put it into another phrasing, but since the terms were known before you could have tried to invest via MSC, too. - A lot of people appearingly did which lead to a complete sellout in less than six hours of the crowdsale. Blame the free market for this.

Could you please repeat why this was unfair, so I can follow your opinion? Please don't take my post as an offence, I'm trying to evaluate the situation and find weak spots which could be optimized.

Edit:


Questions about the crowdsale are currently gathered:

https://docs.google.com/document/d/1Oo8bYKRarkG7S0YUJgP_-8Izkks9EZ1j_0bQ8dz6ahM/edit

Please post in the linked threads or here and I'll forward the comment, so it can be attached.

[Jacqul]

I appreciate the effort to answer questions on google documents.
Watching people type is kind of soothing...

[Djinou94]

It's interesting to know that a scam

[richwang]

Compairing the price paid by BTC and MSC Backers of Maidsafe IPO I find Out this:




I think MaidSafe team should take action and Pay to BTC Backers more Bonus to cover this unfair IPO, Period.

[awrelll]

It's out of coinmarketcap... i wonder why...

Meanwhile, maidsafecoin entered coimarketcup listing at #10.