Thank you for your detail explanation. Many Korean investors are already worrying about the delisting because Bittrex is linked to Upbit which is the largest crypto exchange here. I hope to pass on some good news to them before long.
IMHO This is a large step towards asking projects to be at the behest of the SEC’s mood. Many questions from these type of people are rather open to interpretation. To me this is a serious issue that almost asks projects to be in a position where the SEC could hang them at any time by taking the answers out of context. A good legal advisor would warn against giving information to a potential threatening body who could use that info in a very bad way and effectively change a law slightly to then drown all the responders.
There is also the point of a USA body taking control over (by using cash as a weapon, not for the first time ) a global system like bitcoin and related projects. The USA has so so much to offer and so many smart dedicated people and projects that will change the world, they already have in many ways, but this is over reach.
I think some projects could be in real trouble or have to give up users etc. in these kinds of moves. For us it is best we stay steady and realise our vision for the worlds people to decide on how they want to regulate/work/co-operate and not have dictates or influence by potentially competing world governments and agencies in each jurisdiction. Do not get me wrong, I am happy when I see some scam projects closed down and I hope that continues, but because they are scams, not because an agency wants to give its own projects any favour.
I would love to see the scammers stopped, but it is a price we have to pay right now, I agree the price is too high and there is a definite evil part of the world that will con money from people and they are to be stopped. However using that to cast a net across every decentralised project and taking control of their actions a little at a time, means none of those projects will change the world as they thought, they will just fit where the status quo lets them and that will never be SAFE if I can help it and it certainly will never be MaidSafe while I have a say in it.
If the coin goes down a bit then we just need to work harder to launch, there is a lot happening in the background to let me believe that will be quicker than we think, however giving up our vision or not fulfilling our promise is not a road we will even look at. The short term cash of those who comply and surrender to the authorities is not really a gain, its a sad loss and a sell out in my opinion. So stay strong , stay steady and most of all stay honest and determined we leave this world in the hands of the people to communicate, collaborate, find peace and get on with evolving. This project is way to powerful a proposition to give up on for short term gains or losses, In the long run those issues just have no bearing on true value, people decide on that, not agencies.
MaidSafeCoin (MAID) - Price & Trading topic
This is why I believe in you, the team and the project. I got into crypto because it aligned with my attitude towards liberty and freedom.
It is both reassuring and humbling that Maidsafe and SAFENetwork continue to walk this path, despite the head winds. Keep up the great work!
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This is enough to calm me down. Thanks David.
If we end up in Hong Kong. for example (not speculating here), would feel kind of right for a Scottish project. It was a Scot, who, rather than create an overbearing bureaucracy … left law abiding people alone! And that seems to have been a wise thing looking at how dynamic the place is, now. Not perfect, but we do not need perfect.
while spending money on marketing, why not put some efforts into switching from Omni to ERC20, that will bring liquidity and publicity and a 50x PR boost. (Storj gained 10x reddit registrations and probably 30x liquidity boost after switching from Omni to ERC and only took about one month)
Believing Omni is not the problem is just delusional.
Because the focus is on delivering the product, and when that is done it won’t matter. See this big post, just published:
David, you’r humbleness and and down to earth spirit resonates very well with the nordic way of thinking which I value very high. The trust for you, the team and the community is if you all are family.
I’am not so worried as I know that Maidsafe have porbably set up enough capital for a medium term because I know that you guys know the same thing as me, that the market can be hevaly volatile for a short to medium term time frame.
When knowing the reach of the US regulation and how they handle interests in the past I want to take the oportunity raise security awareness, air-gap, property surveilence with cameras and staff and so on, even though I know you and the team probably know and think about this questions alot. Dont want a public discussion about security, I think it should be in a close group within the company, just want to raise the awareness. The swedish inventor of positioning system and color displays, Håkan Lans, got his invention stolen despite patents. “
In 1995, a representative of the Delphi & Co Law Firm contacted the inventor and explained that the agency would help him to raise money from a number of computer companies. The representative said he had a connection with a reputable patent lawyer who could convey contacts in the United States.
This lawyer had earlier been a senior official in the Pentagon”. Long story short, Håkan Lans got screwed big time.
Laws and regulationions dont seem to apply for those that makes them, if there is a strong interest I believe there is a risk that they will hack or do whatever it takes to get a hold of or controll of what they want. Everything will probably go well but better to be SAFE then sorry.
Totally supported. For Safe’s case I would expect a similar stance from Google or other big corporations. It is better to be cautious than sorry.
curious to know how low it will go.
I would agree to move on ERC20, and take this occasion to rebrand MAID to name a little more sexy.
Also take this opportunity to give the new token a utility value on the future safenetwork, to reward us, early adopters who have been holding in spite of headwinds.
Their token removal policy makes it sound like the it is partly a scam designed to steal the coins of users who either do not have high enough withdrawal limits or who didn’t check their website for a couple weeks. They may have legitimate reasons from the SEC, but is there anything that suggests they’re not planning to steal the coins of those who can’t withdraw quickly enough?
We generally seek to provide up to 14 days for users to withdraw their tokens after the date that a market or token is delisted. Please withdraw your token from the Exchange prior to the withdrawal deadline. After this date, we will be unable to help effectuate withdrawals from the exchange. As such, users should withdraw any delisted tokens that they have before the withdrawal deadline.
Woah I actually got a really quick response from Bittrex on my question regarding the delisting:
Bittrex looks at various criteria when deciding to list or delist a coin.
These include but are not limited to: ongoing developments, technical innovation, blockchain network health, social media, community engagement, market cap, volume, coin distribution.
If you feel strongly about a particular coin, you may contact the developers. Feel free to discuss the coin’s merits in Bittrex Slack (http://slack.bittrex.com).
If a coin is marked for removal please finish any trades you would like on this coin and make sure to remove the coins by clicking Wallets, searching for the coin, and clicking the - to bring up the withdraw page.
Titan @ Bittrex
Off to slack to fight our case or hear what their devs have to say on reasoning.
can we just launch safecoin network in minimum MVP form (i.e only support wallet functionality, no farming, no storage) and at least give it some utility and we dont need to rely on Omni and dont need to deal with ERC migration debate.
We all agree.
The focus unquestionably should be on delivering, and when delivering is on the horizon, a transition would indeed, be waste.
But when will the product be delivered?
With the speed of development we’ve witnessed I will be pleasantly surprised if it took two years, and if I am right, then why not enjoy two years of all the advantages an ERC-20 token has to offer?!
This is not possible, so this suggestion makes no sense.
Hcash, Qtum and several other coins employ the same strategies, launch the network first with minimum functionality (basically just a wallet feature). make it look like they are functional network
It is tedious answering you in two topics. Your suggestion is not possible no matter how many places you make it. Please keep this to one topic.
ok, easy solution, let’s fork Omni into Safecoin and use their wallet feature and with all safecoin codebase frozen, we are still safenetwork functional with added-on Omni wallet feature. We can naturally migrate the whole maidsafecoin ledger to safecoin-with-Omni-wallet network. Once the safecoin code fully ready, we then cut off the Omni code base.
This way, we basically launch the safenetwork with a Omni wallet embed.