Should have been there...

[luckybit]

The technology failure was basically using Mastercoin in the first place. As it doesn't have the market cap or especially the liquidity needed to perform this kind of fund-raiser, while at the same time requiring all donations to be made in Mastercoin. I suppose it's not really a technology failure, more of a platform failure.

I'm not sure BitShares is the solution though as I'm not quite sure how it works. I suppose BitShares also will accept only it's own token as donations, as it's more of a limitation of the blockchain technology itself. Will BitShares be popular enough and thus have enough liquidity and market cap to allow this kind of fund-raising? Only time will tell..

In my view AGS is already miles above the Maidsafe fund-raiser in terms of fairness, but it's also advantaged by the fact that it's not a one-off thing, it will be used for several projects over a longer time period.

This question of how to fairly distribute coins or shares through a fund-raiser is one that the crypto industry will need to resolve. I'm not sure what the solution is, but one suggestion I'd like to make is set a cap for donations per adress and per IP. This will limit the kind of problems Maidsafe saw, where someone (the Mastercoin founders?) unloaded lots of illiquid MSC onto the poor people of Maidsafe. Probably around 10 people bought >80% of the Safecoins available via Mastercoin..

It was a failure of planning. I actually went to their mailing list and cautioned them to make some changes. Other people also tried to tell them to do it differently.

Why was there a cap on the amount of donations they would receive? If not for that stupid cap we wouldn't have any issues at all in my opinion. The cap was a terrible idea.

When Dacoinminster and Bytemaster did their fundraiser there wasn't any cap. Also it was quite sneaky to hide in the fine print that Mastercoins would be worth more than Bitcoins.

That part could be tolerated but not when combined with a funding cap.

[svk]

The technology failure was basically using Mastercoin in the first place. As it doesn't have the market cap or especially the liquidity needed to perform this kind of fund-raiser, while at the same time requiring all donations to be made in Mastercoin. I suppose it's not really a technology failure, more of a platform failure.

I'm not sure BitShares is the solution though as I'm not quite sure how it works. I suppose BitShares also will accept only it's own token as donations, as it's more of a limitation of the blockchain technology itself. Will BitShares be popular enough and thus have enough liquidity and market cap to allow this kind of fund-raising? Only time will tell..

In my view AGS is already miles above the Maidsafe fund-raiser in terms of fairness, but it's also advantaged by the fact that it's not a one-off thing, it will be used for several projects over a longer time period.

This question of how to fairly distribute coins or shares through a fund-raiser is one that the crypto industry will need to resolve. I'm not sure what the solution is, but one suggestion I'd like to make is set a cap for donations per adress and per IP. This will limit the kind of problems Maidsafe saw, where someone (the Mastercoin founders?) unloaded lots of illiquid MSC onto the poor people of Maidsafe. Probably around 10 people bought >80% of the Safecoins available via Mastercoin..

[tonyk]

Can somebody enlighten where the technology failure in this matter was???
I do not see how the technology of Bitshares could have prevented this for happening… Maybe BM is a better guy and would have advised against price fixing but believing bitShares have some inherent qualities that could prevent the today’s fiasco from happening  is wishful thinking…

[donkeypong]

Wish I could have shorted Mastercoin. It came back down even quicker than I guessed. What a tangled web. Companies like Maidsafe will do a lot better using Bitshares to raise money in the future.

[jwiz168]

As I have mentioned, I have moved on. He really opens the window  A window of opportunity for bitshare. Collaborating with maidsafe is very strategic in the realm of decentralized products and services.

[sumantso]

I think its a great lesson for all those are getting twitchy with the delays. Its better to get it right than to be in a position where general investors lose money (think of all those who bought MSCs at just below 0.2 and now find the IPO is forcibly closed).

[biophil]

Meh, you're good. The IPO was botched and now Mastercoin is back down to $40.

[jwiz168]

Recent IPO of Maidsafe via Safecoin triggers a huge jump for Mastercoin . I am thinking lately, Bitshare should have been there. Still it is in its developing stage. Further enhancing the security of its software and being tested from network attacks. With the price of Mastercoin today it will soon reach its debut price @around $150. It will really make those early Mastercoin  investors happy and satisfied with their technology and investment. But who knows what Bitshare in store for its investors such as me. May be it will surpass the expectations Mastercoin is having right now. Just my own opinion, the opportunity was there but somehow bitshare wasn't there yet. It is such a waste to let the opportunity went by. But the bus must stop here. There is nothing else to do.  I will not think this anymore and just move on . There goes a saying... when God closes the door, He opens a window .