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
yes, however you can set any of the master protocol currencies as the base currency. you have to do this, because these meta protocols cannot control btc they can only control coins that are protocol native.
so for example, once maidsafecoin is out, one could theoretically do a a new issuance where the base currency is maidsafecoin.
the MSC that is used to create MaidSafecoin will be used to return the amount loaned. This is how they are able to offer a fixed rate.
Obviously a bit hackish and it would be better if it worked more fluidly but this is what we get to work with at this stage.
Even when we were writing the json libraries we had to do a bunch of hacky stuff to get it to work in Netscape 4.0.x versions. People can complain about it, and most will not understand it, but these things just don't look pretty in the early days.
now look at json, everyone uses it, but 13 years ago I had to spend almost 6 months convincing a CTO at Amazon to just pay us $20k for support and a free license for the libraries.