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

[theFork]

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.

That’s an opinion, in my opinion, not an obvious “flaw” that can be logically argued.  For your premise, that “Bitcoin’s main capability” is in its “ability to prevent double spending,” you are correct, MSC does not leverage this capability yet.  But that doesn’t mean that it won’t in the future.

We’re just beginning to scratch the surface of what effects “conditionality” can have on trustless transactions on an open, secure ledger.  Time will tell, but more will come.

If you’ve got any ideas, let us know.  We strongly believe that our critics will be our strongest influence in making the Master Protocol become more advanced with more useful features.  The more masterminds the better, so please continue providing your feedback, and consider contributing to the effort by offering your criticisms in an actionable way.

Thanks,
Craig

pay me btc and I will give you the most valuable criticism.

[theFork]

IIRC - the 10% IPO means the capitalization at launch will be $160 million.  That's a risky investment for people who poured BTC into this.   It's easier said than done to hit $1 billion or $10 billion.  

You have to factor in the farmers, like miners, who'll be dumping to meet their overhead.  I'm pretty certain this IPO was never determined to be a good investment.

why is $1 Billion needed 1~ 200 Mill is fine?

Drop Box is 1 1~2 Mill add on all the rest media fire etc, or at least a percentage of it and you have quite a good proposition.

[Acidyo]

Guys. Check the big btc amount investments, most addresses can only be traceable 1 or 2 steps back.

This is a whale, sending his own coins to that address, making it look as if many are investing, just to steal your coins in the process.

Please don't fall for it, skip this one and thank me after you see the same thing happen here as it did with Edgecoin.

Any proof?

I'll requote this once it happens.

[udecker]

We’re just beginning to scratch the surface of what effects “conditionality” can have on trustless transactions on an open, secure ledger.  Time will tell, but more will come.

If you’ve got any ideas, let us know.  We strongly believe that our critics will be our strongest influence in making the Master Protocol become more advanced with more useful features.  The more masterminds the better, so please continue providing your feedback, and consider contributing to the effort by offering your criticisms in an actionable way.

Thanks,
Craig

pay me btc and I will give you the most valuable criticism.

https://github.com/mastercoin-MSC/spec/blob/master/RoleBasedBounties.md

The Foundation pays masterminds in BTC and MSC.

Craig

[jibble]

IIRC - the 10% IPO means the capitalization at launch will be $160 million.  That's a risky investment for people who poured BTC into this.   It's easier said than done to hit $1 billion or $10 billion.  

You have to factor in the farmers, like miners, who'll be dumping to meet their overhead.  I'm pretty certain this IPO was never determined to be a good investment.

If you are quoting $160 million dollar marketcap at launch then its a real good investment, but i highly doubt that number is anywhere near accurate considering it looks like you factored in coins that wont exist for 1-10 years and longer.

lets say 1 billion coins are mined within first few weeks and market cap is 60 million dollars lower than you said. so 100 million dollars. you are still looking at a 240% return of investment. that doesn't include the 40% bonus given out to everyone who bought in. 370% + including the 40% bonus coins.

your maths clearly doesnt add up with what you are saying

[jibble]

White Coin is a very active new coin, extremely strong buying pressure in the face of multipool dumps, totaling about 300 BTC invested per day.

It makes ZERO sense that this IPO is getting more investment than White Coin. I simply don't believe it.

Rofl are you really serious?

[RawDog]

White Coin is a very active new coin, extremely strong buying pressure in the face of multipool dumps, totaling about 300 BTC invested per day.

It makes ZERO sense that this IPO is getting more investment than White Coin. I simply don't believe it.

Yep.  People who cannot distinguish between a real project with an underlying technology and a silly little pump and dump bullshit coin never believe these kind of things. 

[bakedrice]

White Coin is a very active new coin, extremely strong buying pressure in the face of multipool dumps, totaling about 300 BTC invested per day.

It makes ZERO sense that this IPO is getting more investment than White Coin. I simply don't believe it.

Rofl are you really serious?

Yes I am, maidsafe is getting orders of magnitude more investments than white coin which doesn't make sense. White Coin is one of the most active new coins.

It smells really fishy is all I'm saying. We know nothing about this guy running maidsafe, and suddenly he has an extreme amount of investments. I don't think people in this community would fork over much BTC to an unknown like this.

At this point all we know is he got a PO box and a $50 word press template, and perhaps has alot of BTC to throw around (maybe from a previous hacking).

Lol you are a funny man.

[Jocuserious]

So what are you all going to say when he runs away with your coins? This scam is so obvious. I'm guessing the actual investments are somewhere around 100 BTC, which will make it worth his while.

I'll say, "Forflaggern shorfuentifn...sdhuewiudjkn!!!"

Because that is what English sounds like in the alternate universe you seem to be proposing...

DIrvine is stout...little effort to verify and Maidsafe is way more than a BC clone which is what WC is and seemingly the basis of your expertise.  Cheers!

[Gaman]

I would like to join this IPO... tried to setup mastercoin but failed.  I get packet decryption error. Hmmm....

[poornamelessme]

So what are you all going to say when he runs away with your coins? This scam is so obvious. I'm guessing the actual investments are somewhere around 100 BTC, which will make it worth his while.

I'll say, "Forflaggern shorfuentifn...sdhuewiudjkn!!!"

Because that is what English sounds like in the alternate universe you seem to be proposing...

DIrvine is stout...little effort to verify and Maidsafe is way more than a BC clone which is what WC is and seemingly the basis of your expertise.  Cheers!

I thought you were quoting the father in A Christmas Story there for a moment.

Anyway, although MaidSafe does appear real, and they have all the devs/employees listed upon their website, the way the IPO was carried out does seem very peculiar. A LOT of money was put into this IPO, with very little (like no) pre-announcement, little fanfare and very little in the way of buildup. It did feel almost like someone put up a random IPO post, and cash just flew their way.

Unlike something like Ethereum, which most here have heard of, I am not sure if many heard of MaidSafe before. When I first saw the thread title, I thought... oh no... a coin for hiring cleaning workers...

It'll be interesting to see where this goes.  I'm too poor and skeptical to invest, but I really hope it's not a scam, as it's not like we need more of those.

[Jocuserious]

So you joined  Bitcointalk a few hours after this IPO started? lol

Long time lurker.  Lots to be said for Lurking MOAR...

Because reading and stuff...


Apologies to the thread - I am off topic and will not continue it.  Thank you.

[jibble]

White Coin is a very active new coin, extremely strong buying pressure in the face of multipool dumps, totaling about 300 BTC invested per day.

It makes ZERO sense that this IPO is getting more investment than White Coin. I simply don't believe it.

Rofl are you really serious?

Yes I am, maidsafe is getting orders of magnitude more investments than white coin which doesn't make sense. White Coin is one of the most active new coins.

It smells really fishy is all I'm saying. We know nothing about this guy running maidsafe, and suddenly he has an extreme amount of investments. I don't think people in this community would fork over much BTC to an unknown like this.

At this point all we know is he got a PO box and a $50 word press template, and perhaps has alot of BTC to throw around (maybe from a previous hacking).

here is a little information about them if you wish to read http://maidsafe.net/article-forbes-beyond-bitcoin posted on the 8th of april . there are many more news stories from reputable news sites, all giving information about who they are and what they do. if you spent more than 5 minutes you might of found them yourself.

Just because you personally don't know who they are , that doesnt equate to "everyone doesnt know who they are"

They have github developments that are at least 10 months old. So if it is a scam. its a very impressive scam in the making with well over 10 months of serious developments into the software and how it will run. With constant updates and new articles being written and their true identities being exposed for everyone to see, and where they live.

[Jocuserious]

I thought you were quoting the father in A Christmas Story there for a moment.

More Fraggle Rock meets the Renaissance Faire...

Anyway, although MaidSafe does appear real, and they have all the devs/employees listed upon their website, the way the IPO was carried out does seem very peculiar. A LOT of money was put into this IPO, with very little (like no) pre-announcement, little fanfare and very little in the way of buildup. It did feel almost like someone put up a random IPO post, and cash just flew their way.

Unlike something like Ethereum, which most here have heard of, I am not sure if many heard of MaidSafe before. When I first saw the thread title, I thought... oh no... a coin for hiring cleaning workers...

I was aware of Maidsafe months before this and heard of them at about the same time as Ethereum.  It should be noted that Ethereum postponed there IPO in January because of community concerns and that this particular IPO happened so fast that it is reasonable to say that there was little to done to anticipate this amount of demand.  Ethereum is likely watching this very closely to see what worked and what didn't and as well a gauging point for demand.  

This isn't something new that just happened; many have been waiting months for this.  For the record...since I don't want this to be any more about Ethereum...I like what Maidsafe is doing better and that is why I am here saying what I am.

If people don't put the effort out to do the research then I can't really defend the logic behind reactionary posts.  That isn't intended to be derogatory...just a statement of fact.

[poornamelessme]

I was aware of Maidsafe months before this and heard of them at about the same time as Ethereum.  It should be noted that Ethereum postponed there IPO in January because of community concerns and that this particular IPO happened so fast that it is reasonable to say that there was little to done to anticipate this amount of demand.  Ethereum is likely watching this very closely to see what worked and what didn't and as well a gauging point for demand. 

This isn't something new that just happened; many have been waiting months for this.  For the record...since I don't want this to be any more about Ethereum...I like what Maidsafe is doing better and that is why I am here saying what I am.

If people don't put the effort out to do the research then I can't really defend the logic behind it.  That isn't intended to be derogatory...just a statement of fact.

Since they evidently have been around a while, I assume some people knew of them. I just find the amount that the IPO has taken in, at this speed, really somewhat odd.

Maybe a lot of their IPO money came from outsiders, which would explain things better. I just prefer more clarity (and time) before making investments. And yeah, I expect the Ethereum people are watching and drooling at the numbers...

[Jocuserious]

Since they evidently have been around a while, I assume some people knew of them. I just find the amount that the IPO has taken in, at this speed, really somewhat odd.

I don't. Decentralized internet is a huge step.

I didn't think they would be accepting any more BTC when I woke up in my timezone.  And apparently the only reason they were is because of the decision to buy out the remaining MSC in order to allow for continued BTC purchases...so technically they sold out before I woke up.

[filipehdbr]

They didnt compute one of my transactions and they didnt reply my email. Praying not to be a scam..

Transaction id: 8dd1e98f519e0c52d96f6b1ff4ec5f30132fbf6b2d538b09c6585d2d7446e054

[stormia]

They didnt compute one of my transactions and they didnt reply my email. Praying not to be a scam..

Transaction id: 8dd1e98f519e0c52d96f6b1ff4ec5f30132fbf6b2d538b09c6585d2d7446e054

Good luck. A company with such an intense IPO would be on top of things like this if they were legit.

Turtle, please go back to your copy-and-paste P&D scam coin. Even if anything you say had any truth to it, people are not going to listen to the same guy that is in here promoting whitecoin. 

[BitzMD]

Im not at home near my pc where I can search through this thread, but I would appreciate a quick link to where I can actually check my maidsafecoins

[niner]

Im not at home near my pc where I can search through this thread, but I would appreciate a quick link to where I can actually check my maidsafecoins

https://masterchest.info

If you paid with MSC then they should show up.

If you paid BTC then they are working on transferring the MaidSafeCoins but only a small fraction have been done so far.