This whole ideas so floored it's satirical, The IPO will be cancelled before 1 day and 17 hours or I'll lose all faith in human nature.
So everytime there is a large asset issuance on MSC, an ungodly amount of MSC needs to be acquired?
and the price fixing will work so well with two assets at the same time
And I guess I didn't catch this part but where does the MSC that is used to create MSAFE go?
It gets stripped of all value by the lucky mastercoin holders who can sell into the over-inflated and fixed fundraiser
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.
Good point I presume it was a part of the con to trick him into this stupid arrangement, and to convince him he was likely to raise more Bitcoin than value stripped Mastercoin.
So everytime there is a large asset issuance on MSC, an ungodly amount of MSC needs to be acquired?
and the price fixing will work so well with two assets at the same time
And I guess I didn't catch this part but where does the MSC that is used to create MSAFE go?
It gets stripped of all value by the lucky mastercoin holders who can sell into the over-inflated and fixed fundraiser
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.
Good point I presume it was a part of the con to trick him into this stupid arrangement, and to convince him he was likely to raise more Bitcoin than value stripped Mastercoin.
Chang, I hate to say it, but youre missing an important point. You are assuming malintent by at least one of the parties, when there is none. No one is trying to out-game the market or anything of the sort. MaidSafe wishes to raise money in a crowdsale of their tokens. They have a target amount they wish to raise. Mastercoin has a method to generate tokens based on the amount contributed. Combine these two and you have a simple mechanism to do so. No malintent.
If we wanted to make the price of MSC go to the moon, the loan wouldnt have happened and all BTC buyers wouldve had to buy MSC at the market price. Which wouldve kept going up and up (way beyond the 0.2 ratio). This wouldve allowed for all of the nefarious actions you portend. The current method *avoids* that.
Were trying to be good guys doing good things, and people keep claiming were doing the opposite. If you dont understand something, ask. Everything we do is public and open-source. If you dont like a method, come in and provide a better one - well take it. Start believing that people are working to do the right thing with the tools available and the world becomes a much nicer place.
Craig
OK, well I guess I'm just betting the outcome of this is a disaster for Maidsafe and Very good for master coin holders. Let's hope I'm wrong I've argued my points more than enough already let's just wait and see.