Craig,
-Your reply clarifies a major point I've overlooked, that I'm surprised wasn't answered when David Irvine was pressed for questions on his thread.
Since its easier and more straightforward to particpate in the Crowdsale using BTC, its a reasonable assumption that the majority of particpants will be using BTC to participate. Your statement over inflated launch price seems to imply your bias in this case, anyway. The market sets these prices, even at the launch.
Quote from: Chang Hum on Today at 04:47:50 PM
Bold part 2 again confirming the bizarre claim about issuance in the first quote
Since the protocol uses MSC to decide how many MSAFE to generate, this should be obvious.
Wow that is mind blowing you've confirmed that mastercoin really does work in this way I assumed it must have been a mistake by David Irvine.
-Your reply clarifies a major point I've overlooked, that I'm surprised wasn't answered when David Irvine was pressed for questions on his thread.
Since its easier and more straightforward to particpate in the Crowdsale using BTC, its a reasonable assumption that the majority of particpants will be using BTC to participate. Your statement over inflated launch price seems to imply your bias in this case, anyway. The market sets these prices, even at the launch.
Quote from: Chang Hum on Today at 04:47:50 PM
Bold part 2 again confirming the bizarre claim about issuance in the first quote
Since the protocol uses MSC to decide how many MSAFE to generate, this should be obvious.
Wow that is mind blowing you've confirmed that mastercoin really does work in this way I assumed it must have been a mistake by David Irvine.
Wait, can anyone who is familiar with MSC confirm this? Is this how MSC works?
So everytime there is a large asset issuance on MSC, an ungodly amount of MSC needs to be acquired? And I guess I didn't catch this part but where does the MSC that is used to create MSAFE go? I assume it doesn't disappear, and it can't be going back to the maidsafe guys because why then why would they even need a large MSC loan? They can just keep reusing the same MSC.
Off to the mastercoin forums to read up on how it handles asset issuance until someone can explain this to me like I am a 5 year old.
The more I know about MSC, the more I become a believer that XCP will overtake it one day. It may not have the marketing and funds that MSC has, but the fundamentals seem way more solid. But I am not trying to turn this into a discussion on XCP. Not that that should stop you from immediately running out to buy a few hundred, or thousand, whatever floats your boat
