[ANN] IPO of MaidSafe: Entering the Future of the Decentralized Internet

[littleblue]

1KHfLixa2idRnZXMUfEisBati1vpywaH6E：

Balance:   5193.73908912 BTC
Sent:   902.3115892 BTC
Received:   6096.05067832 BTC

Sent:   902.3115892 BTC ，

again：-1015.78682142 btc
     Sent:1918.09841062 BTC
what happen？

-1005.0071   
Sent:   2923.10551062 BTC
what happen？ why ？

[mtbitcoin]

I noticed they increased the IPO limit from 6000BTC to 7400BTC just as the funds passed 6000BTC.

I hope they don't do that again...

Actually it was first increased from 6000 to 6700, the new figure now seems to be 7341 ...

What next 8000 ?  

[paulsonnumismatics]

1KHfLixa2idRnZXMUfEisBati1vpywaH6E：

Balance:   5193.73908912 BTC
Sent:   902.3115892 BTC
Received:   6096.05067832 BTC

Sent:   902.3115892 BTC ，what happen？

again：-1015.78682142 btc
     Sent:1918.09841062 BTC
what happen？

And another one, -1005 BTC more....
Im not too scholar on all the blockchain transfer thing, and even less on mastercoin/bitcoin merged stuff so... can anyone explain it? If its the dev, better...

[jztxeno]

1KHfLixa2idRnZXMUfEisBati1vpywaH6E：

Balance:   5193.73908912 BTC
Sent:   902.3115892 BTC
Received:   6096.05067832 BTC

Sent:   902.3115892 BTC ，what happen？

again：-1015.78682142 btc
     Sent:1918.09841062 BTC
what happen？

And another one, -1005 BTC more....
Im not too scholar on all the blockchain transfer thing, and even less on mastercoin/bitcoin merged stuff so... can anyone explain it? If its the dev, better...

It's their money? Whats wrong with you guys, wtf? Even if they would transfer the whole money to an exchange, who the fuck cares? There's no point in holding 5000 BTC on a wallet

[FrictionlessCoin]

It's their money? Whats wrong with you guys, wtf? Even if they would transfer the whole money to an exchange, who the fuck cares? There's no point in holding 5000 BTC on a wallet

Folks, the only thing investors should care about now is if your address is properly recorded in that google docs spreadsheet they have.

[theFork]

yes they are moveing coins, good policy inmho

however what confuses the !!!! out of me is

the BTC buy in was 6K now its upped to about 7K. However MS people say the yar egiving 40% more to BTC holders.

why did they the the 6~7K, this means they have to give a compunded amoutn out eg 40% more or 7K....


Also again this shows BTC is king by far. Regardless of what everyone 'promises' they will always be forced to break those promises by discounting something else to BTC.

Eg give realistic rate to MSC v BTC = MSC pump dump, MSC bag holders. MS want BTC. Ways to get mroe BTC are made.


BTC is the hard currency make no mistake about it, well BTC and Peercoin.

[svk31]

I crunched some numbers on the IPO, assuming 17000+40% for BTC and 3400+40% for MSC, and I'm not getting quite the same limits as announced here.

At this time we have total donations of:

MSC: 94237 = 448 570 425 Safecoins
BTC: 6132.88 = 145 962 544 Safecoins

The Safecoins going to BTC investors will come from the Safecoins bought by Maidsafe using their loaned MSC. The sum of transactions from the Maidsafe address which has so far donated 32 925 MSC=156 722 146 Safecoins.

This means the total remaining Safecoins to be handed out to BTC investors are:

156 722 146 - 145 922 544 = 10 759 602 Safecoins

This is equivalent to another 452 BTC. In other words, the total BTC accepted for investments should be:

BTC total: 6548.96

Another interesting observation: only 35% of the fund-raiser was funded through BTC, the remaining 65% going to MSC investors. Of those 65%, a whopping 85%, or 248 million Safecoins, went to 15 adresses.

[liondani]

1KHfLixa2idRnZXMUfEisBati1vpywaH6E：

Balance:   5193.73908912 BTC
Sent:   902.3115892 BTC
Received:   6096.05067832 BTC

Sent:   902.3115892 BTC ，what happen？

again：-1015.78682142 btc
     Sent:1918.09841062 BTC
what happen？

And another one, -1005 BTC more....
Im not too scholar on all the blockchain transfer thing, and even less on mastercoin/bitcoin merged stuff so... can anyone explain it? If its the dev, better...

I am interrested as well ... can anyone give explanations?

[FrictionlessCoin]

I crunched some numbers on the IPO, assuming 17000+40% for BTC and 3400+40% for MSC, and I'm not getting quite the same limits as announced here.

At this time we have total donations of:

MSC: 94237 = 448 570 425 Safecoins
BTC: 6132.88 = 145 962 544 Safecoins

The Safecoins going to BTC investors will come from the Safecoins bought by Maidsafe using their loaned MSC. The sum of transactions from the Maidsafe address which has so far donated 32 925 MSC=156 722 146 Safecoins.

This means the total remaining Safecoins to be handed out to BTC investors are:

156 722 146 - 145 922 544 = 10 759 602 Safecoins

This is equivalent to another 452 BTC. In other words, the total BTC accepted for investments should be:

BTC total: 6548.96

Another interesting observation: only 35% of the fund-raiser was funded through BTC, the remaining 65% going to MSC investors. Of those 65%, a whopping 85%, or 248 million Safecoins, went to 15 adresses.

Thanks for the calculations. 

As I understand,  Safecoin closed the MSC offering by buying out all the allocated coins.  So I gather that 15% of safecoins acquired via MSC is being resold for BTC.

I am certain there are all kinds of insider dealing going on with MSC and the BitAngels folk.   I however am not too concerned considering that the selling price doesn't appear to be extremely inflated.

What I find pretty cool is that this could start up an arms race to build storage farms rather than ASIC farms.   

[CryptoPanda]

Few important questions I didn't find answer for

• I didn't see anywhere development timeline. When we can expect working version. For what features the money will be used?
• Will the average user (not farmer) be able to visit maidsafe hosted sites without installing any client on his PC?

here is a bump for couple of questions hoping to get answered

another one

[FrictionlessCoin]

Few important questions I didn't find answer for

• I didn't see anywhere development timeline. When we can expect working version. For what features the money will be used?
• Will the average user (not farmer) be able to visit maidsafe hosted sites without installing any client on his PC?

here is a bump for couple of questions hoping to get answered

another one

I'm not from the team, but let me attempt.

-  No dev. timeline.   Of what business is it to you to care how the money is spent?

-  Of course a client will need to be installed.   I am not certain though if safecoins need to be paid to keep storage. 

 

[jztxeno]

Few important questions I didn't find answer for

• I didn't see anywhere development timeline. When we can expect working version. For what features the money will be used?
• Will the average user (not farmer) be able to visit maidsafe hosted sites without installing any client on his PC?

here is a bump for couple of questions hoping to get answered

another one

Q&A

Q 1
Is the MSC funds sent after the IPO closure for MSC qualified for getting safecoins?
No on the CLOSE order all funds are allocated. The protocol works like this, after CLOSE there are no more issues of MSAFE.  

Q 2
what do you mean that "BitAngels have already said they will honour some of the MSC guys who did miss out"?
They have actually sold some people their own MSAFE to appease people very aggrieved. Not to be used as some other sale though, this is  just a decent and very honourable thing they have done.

Q 3
what is the development timeline? When the backers can expect working version.
Test net1 imminent likely to be 5-6 weeks. We may have three of these, depending on test resutls etc. Also depending on number of devs we can get involved in any code fixes etc.    

Q 4
Financially transparent:what features the money will be used?
Not sure what this means, sorry. The moeny is to be used though
1: fund maidsafe 3 years at current burn as long as they provide core dev
2: Fund international developement teams to compete with maidsafe engineers on core dev
Described in more detail in white paper though.

Q 5
what is reason of that there are two Sent transactions from the IPO MSC address https://masterchain.info/Address.html?addr=1ARjWDkZ7kT9fwjPrjcQyvbXDkEySzKHwu&currency=MSC?
We answered this a lot in lots of places. A transaction was sent form the issue address to a loan address by mistake, you can see it moving out again pretty quickly. Otherwise it would have been a system taint as you should never reuse MSC to issue a smart property. You can but it is very much frowned upon and very bad as it would mess up auditing for everyone.  

[danonthehill]

Is that spreadsheet. Up to date?

[paulsonnumismatics]

Is that spreadsheet. Up to date?

I hope is not, and im sure is not.
My small investment from like 4 hours ago is not there. Also, the last line number is the same at least since 2 hours ago.

[theFork]

I crunched some numbers on the IPO, assuming 17000+40% for BTC and 3400+40% for MSC, and I'm not getting quite the same limits as announced here.

At this time we have total donations of:

MSC: 94237 = 448 570 425 Safecoins
BTC: 6132.88 = 145 962 544 Safecoins

The Safecoins going to BTC investors will come from the Safecoins bought by Maidsafe using their loaned MSC. The sum of transactions from the Maidsafe address which has so far donated 32 925 MSC=156 722 146 Safecoins.

This means the total remaining Safecoins to be handed out to BTC investors are:

156 722 146 - 145 922 544 = 10 759 602 Safecoins

This is equivalent to another 452 BTC. In other words, the total BTC accepted for investments should be:

BTC total: 6548.96

Another interesting observation: only 35% of the fund-raiser was funded through BTC, the remaining 65% going to MSC investors. Of those 65%, a whopping 85%, or 248 million Safecoins, went to 15 adresses.

exactly.

The only way to rebalance this is MS will have to a second any maybe third round f giving more to BTC holders from their 3 Billion or dev stash. That way they will get a much better distribution.

Also does any one feel MSC gets a free ride of BTC?

[jztxeno]

Is that spreadsheet. Up to date?

I hope is not, and im sure is not.
My small investment from like 4 hours ago is not there. Also, the last line number is the same at least since 2 hours ago.

Lol they are no robots....

[FrictionlessCoin]

Also does any one feel MSC gets a free ride of BTC?

Yep.  The MSC folks got a free ride.   Meanwhile they continue to gripe that they didn't have the chance to buy up everything.  

SafeCoin looks pretty well thought out and a sound technology platform.

MSC, IMHO is a complete hack and not worth my investment.

Anyway, the reason MSC got a free ride was that Dave Johnston of BitAngels has vested interests in MSC succeeding.   I really don't care for MSC since it obviously is a flawed concept and has no real intrinsic value.

[paulsonnumismatics]

I really don't care for MSC since it obviously is a flawed concept and has no real intrinsic value.

Can you summarize the reasons you think that? not quarreling here, just genuinely interested. i can't see any "obvious" reason.

[udecker]

I really don't care for MSC since it obviously is a flawed concept and has no real intrinsic value.

It just facilitated the biggest/fastest crowdsale in history exactly as it was designed to do, and protocol-wise it performed perfectly.  Your definiton of “flawed” and mine are vastly different.

Craig

[FrictionlessCoin]

I really don't care for MSC since it obviously is a flawed concept and has no real intrinsic value.

Can you summarize the reasons you think that? not quarreling here, just genuinely interested. i can't see any "obvious" reason.

MSC is based on an idea that you can stuff arbitrary information into a bitcoin transaction.   However, it does not leverage Bitcoin's main capability, that is, the ability to prevent double spending.   You can use any protocol (http, smtp) to enable MSC.  The use of Bitcoin's network is more hype than substance.