Quote from: sixteendigits on April 20, 2014, 07:56:05 PM

Quote from: udecker on April 20, 2014, 07:35:54 PM

Quote from: sixteendigits on April 20, 2014, 07:28:51 PM

Quote from: udecker on April 20, 2014, 07:01:42 PM

Do you have something against an automated token generation mechanism that takes one token as input and spits out another token(s) in return? That seems like a genuinely simple way to perform a Crowdsale of a new token, which is what we have implemented.

Craig

I'm not really hating, just trying to understand. Just gotta use any opportunity to mention XCP, as I am one of the first burners, gotta root for the home team!

Ok, I get that the MSC is gonna be returned to the loaners. I get that a MSC generates so many of an asset at a fixed rate.

What I am not understanding, is what happens to the MSC used to create MSAFE after it is sent off to the exodus address, and before the crowdsale ends and it is returned to the loaner? Does the blockchain just give it a warm hug and hold onto it for a fixed period of time?

I'm asking, if I wanted to sell 1000 DRAGON DILDOS using the MSC protocol, I can create an asset called DRAGON DILDOS, set the rate at 1 MSC=1000 DRAGON DILDOS and limit the asset to a total of 1000 DRAGON DILDOS, send 1 MSC to the DRAGON DILDO exodus address, receive my 1000 DRAGON DILDOS, and then my 1 MSC...........take it from here, what happens to that 1 MSC after this point? I guess I am asking where does the MSC go, how long is it there, who has it, and where does it eventually end up.

This is a serious question but I did abuse this opportunity to type DRAGON DILDOS in all caps as many times as I could.

In this example, you are the one holding the crowdsale. You wish to sell 1000 DRAGON DILDOS for each 1 MSC you recieve in your crowdsale. Youd announce these terms to the blockchain (using MP tx51) with those attriubtes. A buyer would send 1MSC to the DILDOEXODUS address. The buyer would receive 1000 DILDO and the Crowdsale address would receive 1 MSC.

You get to keep that 1 MSC, since youre the one who sold the DRAGON DILDOS.

Craig

Ahhhhhhhh........................ok, now I get it. So yes, if this were just an excuse to just pump MSC, the maidsafe guys wouldn't allow use of BTC at all. They hold the BTC donations, they get to use the loaned MSC to create MSAFE, and get the MSC returned to them so they can return it to the foundation.

Ok, this sounds alot less scammy now. Maybe you MSC guys are okay after all.

Feeling really good I was able to scoop up a whole lot of MSC at 0.1 about 12 hours ago now!

As long as maidsafe don't agree with me that the whole thing makes no sense I may as well buy back in myself!