Quote from: klee on November 23, 2013, 09:53:49 AM

Quote from: jajansen on November 23, 2013, 03:45:51 AM

I want to make a post about the "stock buy back" proposal from dacoinminster, where msc foundation would sell most of its BTC for MSC at this early stage.
It kind of makes no sense, in the beginning the project needed BTC funding to get started, and now all that BTC could "dissapear" for MSC, which is a project still in development, then the whole funding kind of wasnt needed in the first place, if MSC is worth already so much. (it would have merely be a way of distributing them)

The foundation buying MSC for its bitcoins, though, would be a good opportunity for MSC holders to get rid of mastercoins for a very good price, and thus specially dacoinminster could get rid of large quantities of MSC for a very good price. Something not possible in current market, as simply there are not enough mastercoin buyers to be able to sell large quantities at current market price.

So already only for this reason I absolutely disagree with foundation buying MSC. Why doesnt the foundation own some MSC anyway from the start?
(couldnt have the rule been in august, for each BTC you send to exodus, you receive 99MSC; and 1 MSC goes to foundation?)
Then foundation would currently own 5000BTC and 5000MSC, instead of now having to buy MSC for some kind of reason.

The foundation should certainly not be allowed to drive up the price of MSC.

Also if MSC for whatever reason is going down in price afterwards, the foundation holds no funds anymore if they only have MSC, and it might be game over for MasterCoin, in the sense that no funds are left for development.

Current BTC holdings mount to close to 5 million dollars, and so we should have no complaints about.

On the other hand, for the foundation to own a couple of MSC, could be, but then just a couple of hundred BTC..not 80% of its holdings...some diversification is ok...

Do you own MSC?

Certain, else I would never bother such a post..though I own so few that as for that, my opinion doesnt matter as for any voting power!