I think the better question is, does every other coin/token listed on Bittrex pass the Howey Test.
And do you think Bitrex would commit a crime and risk their entire exchange, on a long shot like Maid?
And, if the answer to my previous question is anything but “yes,” why is Bittrex ok risking its neck listing those.
In my opinion, it sounds more like a good business decision on their part. If one coin could shut down their business based on a new securities provision it would not make good sense to continue to list that coin(s). I don’t see any skullduggery going on here without further evidence. The timing of the move along with other similarly-based announcements by other companies leads me to believe it is an act of self-preservation on their part. Now, what they do with those excess Maidsafe coins is a different matter. I would like to see Bittrex address that specific question.
Also, I suspect the decision to zero in on Maid has more to do with the interpretation of the law (ruling) by their attorneys more than anything, and when the weight begins to fall more toward doubt for other coins you will probably see others joining the exodus.
I think we should start to question the MaidSafe Foundation alot more. Are they meeting their fiduciary duties? Are they complying like they should? Or are they having fun being rebels and risking everyone’s money because of negligence?
Come off it. For posterity’s sake, I’ll just record here, by your own admission, my points were and are valid, and you’re just stirring up mud b/c either you’re just bored, dull or both:
Haha you do have a good point about all the the other coins being securities. No need to name call! lol.
and im not trying to stir up mud for the sake of it. It is a legitimate concern I think. Although the statute of limitations may have passed and the SEC may just let them go because they missed it at the time.
I think it’s an important thing to consider. Why not ask the questions lol. If the foundation isn’t worried I’m sure they would be happy to address the matter
Name calling? What do you call this:
Those are serious accusations. Also, they owe you nothing. We all knew the risks when we bought MAID. If we didn’t do our due diligence and match our stake to our risk tolerance, then we had no business buying in the first place.
They are, but its a serious situation. If I’m wrong I’m just another idiot on the forum…So what?
I dont see the harm in asking these questions. What bad can come of it?
Before you start accusing the Maidsafe company of irresponsible behaviour, you need to search out the forum and get answers to your FUD (Its FUD because its contrary to the revealed truth).
They adhere to UK laws, both the company and the foundation. Please note that the foundation did not issue any coins or were involved in the ICO, they are a foundation (charity) and held to high standards by UK law. Since you have not taken the time to avail yourself of the supplied information in this very forum, I inform you that both the company and foundation have and do comply with all the applicable laws and reporting. Do a search for yourself and find out the info, its been said in this forum and also links were supplied to the sites where you can read the company reports and foundation reports.
Well for starters you harm all the coin holders since your FUD will drive down the price.
Your posts will make future SAFE-APP developers wonder if there are problems and will not want to be involved.
If you are going to ask these questions then you SHOULD avail yourself of the information already provided in a few places in this forum already. But no you FUD first and defend yourself by “what harm by asking questions”
Also you accuse the foundation (charity) of being irresponsible, and this is a serious accusation (defamation)
Even if maidsafecoin was considered a risk to an exchange, they could just freeze trading and only allow withdrawals for a reasonable period. Perhaps a year or two would be reasonable, assuming the exchange is live.
To change terms late and give only 14 days is clearly not sufficient. The fact that some 20m coins apparently still remain on the exchange is clear evidence of this.
What I’m wondering is what will happen with the remaining (max 20m) coins when they are still on Bittrex after the withdrawal deadline?
Will we see a sell off on other exchanges? And if yes, could this maybe have been the plan all along?
I mean, changing the TOS to a 14-day withdrawal period seems to me they are in a hurry to get these coins off of their exchange (for whatever reason). It’s just seems a bit convenient that they will profit in the process…
I would not worry about that, UK law does and will make sure that the foundation and company act legally. In terms of morality then its the morals of the board and trustees, I doubt these are in question, but you are free to poke around. The foundation would not exist had I not provided it with my shares and maidsafe paid legal costs to allow that. It would be unlikely I would then act immorally there.Always OK to check, but perhaps with thought and care not to create doubt and fear that is unfounded.
I would just add, that I did not receive any e-mail about delisting MAID or change of TOS. So for people who are not checking news at least every week it could be very frustrating.
I would expect that they will send you series of e-mails about it.
Exactly my point…
Bittrex can probably make an educated guess (based on the user activity) that a lot of those wallets will remain untouched. It just seems a bit fishy to me, but maybe I’m just being silly.
How could they possibly know? Some may have bought years ago and just left they on exchange as easier.
They can’t, I figured it out by sheer luck because I wanted to get some more and noticed the delisting… Removed everything for all investment I had after that from bittrex, 0 confidence in them now!
Exactly, some people may have bought MAID on Bittrex years ago, left it there and might find out about the delisting in a few months or maybe even years. Bye bye investment.
And how could Bittrex know that a lot of the wallets will remain untouched you ask? Surely they can monitor user activity. How many times a day/month/year you log in for instance…
But then again, maybe not…I don’t know…but that doesn’t change the fact that it still is highly convenient that given the circumstances (changing regulatory landscape and what not), they now have an excuse/reason to delist some coins, effectively making millions in a few weeks with their changed TOS on coins that didn’t have a great trading volume anyway (anymore).
Two or maybe even three birds with one stone.
You would think that with the strict KYC-rules it would be not that much effort to at least sent a mail.
Maybe they’ll have a different approach, depending on the amount (and level of KYC) of money involved.
Doing more effort to get in touch with the few people with bigger amounts: higher level of KYC and risk of getting sued.
Of course they could get lucky in a couple of cases, like people who won’t complain, because deceased.
But I can imagine that the US government will also be interested in that money.
It’s so ironic: MaidSafeCoin was delisted because of lack of utility and in a few years Safecoin could very well be the only coin WITH utility.