[ANN] MaskCoin and MaskNetwork

[themasknetwork]

You guys realize that the way the exchange "determines" the prize that it is a pyramid scheme right?

"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public....In a pyramid scheme, an organization compels individuals to make a payment and join. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit."


- We don't pay old investors using the money from new investors. We pay them from their own money.
- We don't ask you to enroll other people into the scheme.
- We do sale something in exchange for USD.


A market like maskexchange.com has huge advantages :

- The liquidity is guaranteed. There is always a buyer. There is always a seller.
- Transactions are instantly executed at the right price.
- Price gaps are not possible. In a regular market like Bitstamp, if the buyers get out of the market for a short period of time, the price collapses.

and so on...

[themasknetwork]

Two words: too expensive

The wallet has o ton of cool features....Only time can tell if it's too expensive or dirt cheap.

Anyway, bitcoins where very expensive at $5 / coin, 2 years ago.

What features, can you list them, there is P2P market so far as I know, but many coins has this feature, oh, it has embedded ads too, any others?

Let me say it this way, Ethereum is very fantastic and very innovative but now the presale raised only 15M dollars, if all MSK sold out, I suppose it will raise 10M dollars, but can you compare MSK with Ethereum?!

I have just read the Ethereum TOS, and i think you were scammed. Ethereum is an inflationary currency, with zero value. The inflation rate is huge (26%), but it could be changed anytime soon.

"....for technical reasons EthSuisse may need to change the annual rate of new creation to a value lower than 26% to account for changes to the Ethereum mining algorithm or to address other issues that may arise. There is no guarantee that this percentage will be accurate or that this rate will continue at the same level....."

Right now, comparing Ethereum with MaskCoin or any other shitcoin is a nonsense... Ethereum is not a coin. Ethereum is fuel.

For more details check this thread https://bitcointalk.org/index.php?topic=737234.0

[NxtChg]

Right now, comparing Ethereum with MaskCoin or any other shitcoin is a nonsense...

I guess English is not your native tongue? Or is it a Freudian slip?

[themasknetwork]

Right now, comparing Ethereum with MaskCoin or any other shitcoin is a nonsense...

I guess English is not your native tongue? Or is it a Freudian slip?

No, it's not. And when i type fast, i make a lot of spelling mistakes...)

[Ola]

Two words: too expensive

The wallet has o ton of cool features....Only time can tell if it's too expensive or dirt cheap.

Anyway, bitcoins where very expensive at $5 / coin, 2 years ago.

Your pricing is greedy and too expensive, furthermore you will earn most of the interest because of your 5% stake...It will be impossible for most to compete against your stake in leveling out distribution because of your structure of increasing pricing points...whats more you will almost be obsolete and scratching for marketshare by the time you are ready to launch because you are alienating most of your market with your greedy pricing...wanna know why? there are at least 4 to 5 projects or more in the same space launching in days and weeks I will point you to a few, word of advise: listen to your potential patrons, Goodluck.


Syscoin:

launching in ~2days aug 16th :

anouncement
https://bitcointalk.org/index.php?topic=587080.0   

https://bitcointalk.org/index.php?topic=587080.msg8359016#msg8359016  Syscoin launch details


Saffroncoin
https://bitcointalk.org/index.php?topic=586320.msg8357855#msg8357855

their are at least 3 more making solid progress

[butany]

You guys realize that the way the exchange "determines" the prize that it is a pyramid scheme right?

"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public....In a pyramid scheme, an organization compels individuals to make a payment and join. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit."


- We don't pay old investors using the money from new investors. We pay them from their own money.
- We don't ask you to enroll other people into the scheme.
- We do sale something in exchange for USD.


A market like maskexchange.com has huge advantages :

- The liquidity is guaranteed. There is always a buyer. There is always a seller.
- Transactions are instantly executed at the right price.
- Price gaps are not possible. In a regular market like Bitstamp, if the buyers get out of the market for a short period of time, the price collapses.

and so on...

really different.

A market like maskexchange.com has huge advantages :

- The liquidity is guaranteed. There is always a buyer. There is always a seller.
- Transactions are instantly executed at the right price.
- Price gaps are not possible. In a regular market like Bitstamp, if the buyers get out of the market for a short period of time, the price collapses.

.....

[TwinWinNerD]

You guys realize that the way the exchange "determines" the prize that it is a pyramid scheme right?

"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public....In a pyramid scheme, an organization compels individuals to make a payment and join. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit."


- We don't pay old investors using the money from new investors. We pay them from their own money.
- We don't ask you to enroll other people into the scheme.
- We do sale something in exchange for USD.


A market like maskexchange.com has huge advantages :

- The liquidity is guaranteed. There is always a buyer. There is always a seller.
- Transactions are instantly executed at the right price.
- Price gaps are not possible. In a regular market like Bitstamp, if the buyers get out of the market for a short period of time, the price collapses.

and so on...

really different.

A market like maskexchange.com has huge advantages :

- The liquidity is guaranteed. There is always a buyer. There is always a seller.
- Transactions are instantly executed at the right price.
- Price gaps are not possible. In a regular market like Bitstamp, if the buyers get out of the market for a short period of time, the price collapses.

.....

And huge disadvantages. The site is always the counterparty and because of their system the site can never lose money, but only. Now because the site can never lose money, the customers will always have a net loss. Sure their "Balance" might say they have a "gain" because the price is now higher, but once some people cashout the price plummets to where it was before those  guys bought.

That is not a free market. That is a ponzi.

[themasknetwork]

You guys realize that the way the exchange "determines" the prize that it is a pyramid scheme right?

"A pyramid scheme is an unsustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products or services to the public....In a pyramid scheme, an organization compels individuals to make a payment and join. In exchange, the organization promises its new members a share of the money taken from every additional member that they recruit."


- We don't pay old investors using the money from new investors. We pay them from their own money.
- We don't ask you to enroll other people into the scheme.
- We do sale something in exchange for USD.


A market like maskexchange.com has huge advantages :

- The liquidity is guaranteed. There is always a buyer. There is always a seller.
- Transactions are instantly executed at the right price.
- Price gaps are not possible. In a regular market like Bitstamp, if the buyers get out of the market for a short period of time, the price collapses.

and so on...

really different.

A market like maskexchange.com has huge advantages :

- The liquidity is guaranteed. There is always a buyer. There is always a seller.
- Transactions are instantly executed at the right price.
- Price gaps are not possible. In a regular market like Bitstamp, if the buyers get out of the market for a short period of time, the price collapses.

.....

And huge disadvantages. The site is always the counterparty and because of their system the site can never lose money, but only. Now because the site can never lose money, the customers will always have a net loss. Sure their "Balance" might say they have a "gain" because the price is now higher, but once some people cashout the price plummets to where it was before those  guys bought.

That is not a free market. That is a ponzi.

Bitstamp case

1. 5 investors buy 1 BTC.
2. I login on bitstamp and buy 1000 BTC. The price will go up.
3. The 5 investors's balance from point 1 will show a "gain".
4. I come back and sell 1000 BTC. God knows where the price will stop from falling...
5. The 5 investors's balance from point 1 will show a "loss".

Bitstamp "can never lose money". They move the coins from left to right and get a fee. Because i have sold 1000 BTC, "the price plummets". The investors from point 1 will loose money. The website always make money. Only traders lose.

Bitstamp is not a free market. That is a ponzi.

[TwinWinNerD]

Are you kidding? Are you limited on selling BTC only on bitstamp? Can you cash out from bitstamp? Can you sell BTC on bitstamp only directly to bitstamp?

[TwinWinNerD]

Or NXT marketplace in 3 days.

[Ola]

Or NXT marketplace in 3 days.

@TwinWinNerD 3 days !!! go nxt 

[themasknetwork]

Or NXT marketplace in 3 days.

@TwinWinNerD 3 days !!! go nxt  

NXT digital goods store....Smiley)) Let's talk about it :

Day 1 (August, 12, 2014) - NXT price 0.029 USD
--------------------------------------------------------------------------------
- I'm a merchant and i want to sell Amazon Gift cards on NXT digital store. It would great for NXT users to buy anything they want from amazon, using NXT. Everybody is happy.

-  I am selling $100 gifts cards. I open NXT client and post a new offer at the price of 3448 NXT for 1 card.  I pay a fee for posting the offer. I sell 2-3 gyft cards. I'm happy.

Day 2 (August, 13, 2014) - NXT price 0.037 USD
--------------------------------------------------------------------------------

- I didn’t received any order. Wonder why.
- I open the market. 1 NXT is 0.038 USD, So, i'm selling a $100 gyft card for $122. That’s why nobody is buying. They could also buy amazon gift cards using a visa card in 2 minutes for $100.
- I reopen the client and readjust the price to 2701 NXT. I pay the update fee. Thanks god i don't have 1000 items for sale.


Day 3 (August, 14, 2014) - NXT price 0.036 USD
————————————————————————————————————————————
- I get some orders. I'm happy. No losses.


Day 4 (August, 15, 2014) - NXT Market price 0.032 USD
———————————————————————————————
- I have receive tons orders.
- I open the market. 1 NXT is 0.032 USD, So, i'm selling a $100 gyft card for $86. I panic. I just lost around $180 in a single day.
- I reopen the client and readjust the price again to 3125 NXT. I pay the update fee. Again, thanks god i don't have 1000 items for sale.

Day 5 (August, 16, 2014) - NXT Market price 0.026 USD
--------------------------------------------------------------------------------
- The whole inventory is gone.
- I open the market. 1 NXT is 0.026 USD, I have just sold tens of $100 gift cards for just $81. I’m shocked.
- I stop selling over NXT digital asset store.


For this example i have used REAL market data. Some NXT lovers will come and tell me that i'm a troller and retarded. But there is no escape from this scenario.

This scenario will repeat day after day for hundreads of merchants until everyone of them will stop selling.

It's easy over a website where you can display the REAL market price, but over a p2p marketplace it's not possible using a volatile currency. NXT digital goods store is not functional. Period.

Same for open bazaar. Even worse. This is why we have ZERO functional p2p markets. VOLATILITY

Go NXT !!!!

[TwinWinNerD]

You are a tard...

Also you will be able to set prices in USD and people pay with the actual exchangerate.

[TwinWinNerD]

PS: Because people still not get why this is a ponzi.

Lets think about a situation where this currency takes off. Do you know where all the "market cap" will be? In the pockets of the exchange. Sure they promise to always payout. But it wouldn't be the first exchange to run with >5 M usd.

[killam]

in theory ALL exchangers/merchants can run with money. That is why a solid background of a guy who paid over 500k euros to players in last 2 years does say something. I can not say i am an expert in cryptocurrencies/exchanges, etc. However i do play the games the team made for over 5 years. From my knowledge there isn't a SINGLE complaint on the fact that they do not pay. from my point of view this project has 2 benefits:
1) the reputation of the maker
2) the fact that it does bring some unique features on the table.
it is definitely something to be monitored closely.
Peace all

[butany]

you can see it is a very big project from the maskcoin wallet.

[themasknetwork]

you can see it is a very big project from the maskcoin wallet.

You don't understand. People like TwinWinNerD, are not here to discuss features or to test products. They are stakeholders in NXT or other shitcoins and they try to protect that stake. They don't care about innovation / client operation or other details. They just call you are a scammer / troller / retard, with zero evidence, and then move to another thread where they do the same thing.

This is what they do 3-4 hours / day. Each day. Thanks god we have the "Ignore button"...

[TwinWinNerD]

If thinking that helps you sleep at night, so be it.

You can check my post history, I only hate on a few "shitcoins". THis coin and bitcoin-trader are one of the most cancerous on this forum. That is why I post here.

Give your users the option to trade on a "normal" market and I will shut up. I don't think your concept sucks, just your exchange is designed in a ponzi scheme setup.

[themasknetwork]

You are a tard...

Also you will be able to set prices in USD and people pay with the actual exchangerate.

- There is no way to specify the price in USD (i will explain in a future post why this is not an option and will never be implemented). Here is the proof : http://wiki.nxtcrypto.org/wiki/File:DGS_list_product_for_sale.png

- You can't even post 2 items in the same block using the official client. That makes the above scenario a nightmare if you have over 500-600 items for sale. Here is the proof : https://nxtforum.org/marketplace/test-report/

- DGS has no rating system. A rating system is essential over a trustless p2p network. You can rate a seller but only the seller can see the "rating". This could be no. 1 the most stupid feature in an altcoin wallet. We should  vote. Here is the proof : http://wiki.nxtcrypto.org/wiki/Digital_Goods_Store ("You now have the option of leaving feedback to the seller (it is private, i.e. only the seller will be able to see it). Press the “give feedback” button, enter your feedback and your passphrase and hit ‘submit feedback’ and you’re all done! ")

Stop lying about NXT features. You are hurting the NXT community !!!

[TwinWinNerD]

You are a tard...

Also you will be able to set prices in USD and people pay with the actual exchangerate.

- There is no way to specify the price in USD (i will explain in a future post why this is not an option and will never be implemented). Here is the proof : http://wiki.nxtcrypto.org/wiki/File:DGS_list_product_for_sale.png

- You can't even post 2 items in the same block using the official client. That makes the above scenario a nightmare if you have over 500-600 items for sale. Here is the proof : https://nxtforum.org/marketplace/test-report/

- DGS has no rating system. A rating system is essential over a trustless p2p network. You can rate a seller but only the seller can see the "rating". This could be no. 1 the most stupid feature in an altcoin wallet. We should  vote. Here is the proof : http://wiki.nxtcrypto.org/wiki/Digital_Goods_Store ("You now have the option of leaving feedback to the seller (it is private, i.e. only the seller will be able to see it). Press the “give feedback” button, enter your feedback and your passphrase and hit ‘submit feedback’ and you’re all done! ")

Stop lying about NXT features. You are hurting the NXT community !!!

I said you "Will" be able. As in the future. Just because the release doesn't have all features yet doesn't mean it never will.