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Author Topic: Introducing the CoinRecycler from MastCoin and how it could start something big  (Read 987 times)
vir6
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June 27, 2014, 07:54:48 AM
 #1

I have been following MastCoin and CoinRecycler development for some weeks now and correct me if I'm wrong but I think we can honestly say it will start something big in altcoins.

Here is why :

Right now to buy/sell our coins we all need online accounts on exchanges, with emails, phone numbers for 2FA... we need to wait confirmations for deposits, withdrawals, need to wait for an order to get filled, need to take care of not holding too much money in the exchange...

But what if I tell you all of this will be old history soon ?

CoinRecycler allows you to sell your coins for MAST through a fully anonymous and automatic process, you only need to select the name of the coin you sell, the number of coins, then the coin recycler calcul the number of MAST you will receive, you put your MAST adress where you want to receive the coins, generate an adress to send the other coin and you will receive some MAST in around 30 minutes.

CoinRecycler is available here and support 5 coins http://recycle.mastcoin.org/

In only some days it will be implemented in the wallet, will support some new coins and of course support BTC, maybe in both ways so you can buy and sell also.
An API is also ready for integration in a website.

So I think this is a really good feature, because it will be a lot more anonymous, not any online accounts needed, no exchanges where you put your email adress, phone number...
And of course a lot more secure than using exchanges.

It could also help to bring mass adoption because it's really easy to use (all in one)

Of course this is my own analysis, I think it's worth sharing it here but do your own before investing  Wink
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June 27, 2014, 11:30:07 AM
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I can only agree with you guys. I don't know why MAST stays unnoticed, but when people realize, it will be huge.

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vir6
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June 27, 2014, 07:02:09 PM
 #3

Thanks for your comments

anyone else ?
invall
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June 28, 2014, 07:57:12 AM
 #4

Thanks for your comments

anyone else ?

people will show up once the price will move i guess...
vir6
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June 29, 2014, 08:15:41 AM
 #5

https://bitcointalk.org/index.php?topic=613622.msg7573321#msg7573321
kakp
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June 29, 2014, 08:26:54 PM
 #6

MastCoin looks good, innovating features and something every coins will need in a near future : buying and selling anonymously from your wallet without accounts on exchanges.

It's just a matter of time before this coin goes up at least to 1 million market cap...
TheGift73
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June 30, 2014, 03:27:24 PM
 #7

Agreed. MAST has a ton of great features to it and when people start to realise the true potential of it they will be annoyed they didn't invest earlier.

MAST has a great community behind it and a very active dev and team helping it as more innovative features are added.

Defiantly a coin to hold.
AltxF4
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June 30, 2014, 05:28:58 PM
 #8

As a newer miner I was reluctant to start accounts on several exchanges, but to be able to exchange coins it was necessary. If Mast were fully implemented when I started mining it would have been much easier.
Zer0Sum
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June 30, 2014, 08:30:29 PM
 #9

MastCoin looks good, innovating features and something every coins will need in a near future : buying and selling anonymously from your wallet without accounts on exchanges.

It's just a matter of time before this coin goes up at least to 1 million market cap...

Exchange means BTC, not an illiquid coin like MAST.

Instead of paying about 1% to exchange DOGE to BTC on Mintpal...
You can pay 10% for the "convenience" of using the "CoinRecycler"... and going DOGE to MAST to BTC.

Unless they can find Market Makers...
To get that exchange spread down to low single digits... there is no value here. 
vir6
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July 01, 2014, 02:54:27 PM
 #10

- Right now when you want to sell a coin to buy another coin;
- First you need an account in an exchange (this means personal information like email address, phone number...)
- Then make a deposit for the coin you want to sell
- Then you need to sell the coin for BTC and if you are lucky the other coin you want to buy is on the same exchange and you can buy it.
- And finally you need to withdraw the coin you bought to his wallet.


With the CoinRecycler you will be able to sell your coin at the current market price by generating a deposit address, it will tell you how many MAST you will receive by calculating from the orderbook and after that it's a fully automatic and anonymous process and you will get your MAST in minutes !


What are the advantages of using the CoinRecycler ?

- You will be able to sell or buy from your wallet !
- No need of accounts on exchanges
- A lot more secure than exchanges
- A lot more anonymous
- Easy to use, the human nature is lazy so the more simple it is, the more it's appreciated
- Can easily bring mass adoption, because it's a kind of all in one and easy to understand

- And of course a constant buy support



The CoinRecycler will start with a bonus, for example "recycle your coin get +5%", if someone recycle some coins worth of 1000 MAST he will receive 1050 MAST.

vir6
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July 08, 2014, 11:46:05 AM
 #11

lotosminer
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July 09, 2014, 09:11:17 PM
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Looks very good. I'm quite sure MAST price will go up at least x5 after this integrated coin recycler is released.

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