Quote from: dacoinminster on January 13, 2014, 08:27:18 PM

Quote from: DarkEmi on January 13, 2014, 06:35:16 PM

Here is what I feel will happens roughly :

if (JRprice == x)
{
masterXchangePrice = x - 10%;
}

In my humble opinion, trading OTC will impact the market more than trading quietly on an exchange.

First, all trades impact the quantities available in the same way, if you sell 1000 MSC OTC, that will always be 1000 MSC that wont be bought on the market. There is no "if you dont trade on the exchange the price will not be impacted !".
Thats an economical fallacy; the price converges to the same value everywhere and the exchange is a part of the market in the same way that the OTC is.

Second, saying that you have X quantities to sell at Y prices is much worse than trading them little by little : As long as the market expect a bigger quantity to be traded, the price will correct itself until the price discovery process is finished. Thats like bill gates announcing that he will sell 1% of MSFT the next week. What huge holders are doing is that they pay brokers to liquidate the quantities as quietly as possible on the marketplaces.

Having said all that, I will add that this is only an opinion and that its really great that JR is commiting himself to Mastercoin full time

This is all fascinating to follow in term of economic theory

Yeah, by doing this so publicly, I'm basically ensuring that the price drop happens BEFORE I sell, rather than my sell causing the price to drop. If I had sold privately, the price would have still gone down, and nobody would have known why until somebody noticed in the block chain that J.R.'s coins were being sold, potentially causing a HUGE panic.

It seems clear that I would have done a LOT better doing this privately, without telling anybody what I was doing until somebody noticed my coins being sold, but this way seems more ethical to me.

JR, I'm sorry to point this out, but when you made the announcement 5 days ago, you wrote:
"I hope to sell 3-6% of my total MSC holdings (5000-10000 MSC). If I haven't sold them by August 1st 2014, I'll sell more aggressively.".
First, it would appear you didn't run the announcement by the Board. Ripper had to immediately start speaking on your behalf to clarify the message. It appears you ran solo, without analyzing what kind of message your announcement sends. This shows questionable judgement on your part.

Second, could you please explain why, when you just caused a panic sell 5 days ago, you cause another drop by forgetting your promise of keeping the prices you announced until August? Kindly explain your thought process, because I'm really at a loss. The founder should act in a predictable, altruistic way.

I would also suggest you do a session similar to Reddit's AMA, where the community can send you questions, and you actually answer them. This is the only ICT project I've ever been involved in where the leader is the least visible and most unavailable person in the project. It should be the other way around.

My apologies for the harsh words, J.R., but I think we deserve answers.

nanobit

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