Post
Topic
Board Announcements (Altcoins)
Re: [Ann] Safecoin maidsafecoin
by
svk31
on 22/04/2014, 15:59:50 UTC
dirvine’s reply:

Just an FYI for anyone looking for reliable info;
I messaged David Irvine about a concern I had and he's responded in this thread:  https://bitcointalk.org/index.php?topic=577149.msg6338462#msg6338462


....

We then seen the Mastercoin blockchain explode and this will initially amazing, then it was very fast. A mastercoin block explorer site showed the sale as sold out and that was then delight into shock.

This was due to the fact MSC holders just send to an issue address and MSAFE are automatically returned. BTC hodler though had to send to a BTC address where they are collected in the background and manually xferred to MSAFE. I was in shock, all those BTC inputs had not been processed, we are all shut out (all in the office to). That was not great.

I then was straight on to the Master protocol guys (also all nighter for them) and said is this all true, have we sold out in a couple of hours? We had not, in fact it was less than 50% (Still a huge amount).

....

What's a bit strange about this is that the Mastercoin donations "exploded" thanks to several huge donations from what I suppose are Mastercoin founders. Someone donated 9176 MSC for example, another one 8624. Those guys are working closely with Maidsafe to enable this fundraiser, you might think they would warn them that their assumption of 10% of donations via MSC was likely to be way off, especially considering the steep discount on Safecoins via MSC compared to BTC.

10 adresses donated 83% of the total 93892. There's a donation of 25000 in there, maybe that's Maidsafe themselves buying up the rest of the coins as explained by David Irvine? If not that's one big whale.. It happened 1.5 hours before the final donation though.

I'm not quite sure what to make of this mess.