Circle buys Poloniex

Circle has apparently acquired Poloniex.

Since this is currently the second largest exchange for MaidSafe I’m guessing it might have some effects on Maidsafe - not sure what yet, possibly greater visibility with more geographical more localisations and more ways to purchase with fiat as Polo was crypto only. Poloniex clearly need help with customer service which the press releases say Circle will be working on. They also say they’ll be growing the Poloniex platform to include other types of assets…

press releases:

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I don’t worry so much about Godman Sachs delisting Maid, their only goal is to make money. If something worries me it would be that the US has a list of technologies that they do not want to succeed because they can’t control or have backdoor to it, and that they could threaten exchanges to remove certain projects and hide behind “securities regulation” to hinder unwanted technology.

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Exactly. This doesn’t look good at all. Perhaps this is the answer to @Antifragile’s post below from the price & trading thread. Polo probably moved all MAID to a hot wallet because delisting is likely imminent. Anyone who moved/moves their coins there is likely going to just end up having to pay even more transaction fees to move them again.

Once again, I don’t think news on new exchange listings can come soon enough. Market sentiment is a powerful thing. Almost has me wondering if Binance is worth it, fees and all… In fact, where-ever that guy is (@Kingslanding, I think) who said he’s made as much as MAID’s market cap on crypto should gladly volunteer to cover the Binance listing fee. That would be immeasurably more beneficial than just complaining here. And, being privy to material information, he could more than make back several multiples on the listing fee…

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I think this is a possible threat. But their authorities had better tread carefully. Very aggressive suppression can have the opposite of the desired effect. I think e.g. outright banning Safenet technology would be a stupid move. I’m thinking Streisand effect. (Also Adolf Hitler realized the SA Brownshirts were too violent to be popular and represent a serious political party, and killed off the SA leaders in 1934.)

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This can cause another delisting. Bittrex and poloniex are both US based. So the same regulatory framework will be applied on poloniex tokens.

Binance listing is crucial for maid traders.

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So far, this may be my favorite snippet of any post this year :laughing:

Anyway, should even Polo delist MAID, there is always Changelly and Cryptopia. Probably not the biggest and most glorious turn-ons, but it’s not like we can’t exchange anywhere anymore. Both are also pretty far from the US.

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Great FUD for your first post!

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Not really fud. Indeed my first post. It’s just a personal concern. I follow maid for more than a year now. Many people invested in maidsafe bc of me. Love the project but I can’t join most of the discussions here because of my lack of technical knowledge.

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Welcome :slight_smile:

Re: the above, some of the most interesting posters on this forum (folks like our old friend Jabba, Sotros25 and plenty of others who deserve mentioning) come from non-tech backgrounds and contribute immensely by making the rest of us think differently than we otherwise would.

These type of people and their opinions/perspectives are super valuable on here for that very reason. Feel free to comment or involve yourself however you feel comfortable, everyone’s views are welcomed even if you think you don’t have the knowledge to join in as you never know what snippet of brilliance or worthwhile discussions could come from the most seemingly innocent posts/thoughts :wink:

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Thanks for the warm welcome. I try to contribute where I can. So far I really liked to contribute by spreading the word. Many of my friends and family members hold a bit of maidsafe now.

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Fwiw, there is absolutely no question that listing on Binance, in the short term deals with many of the issues that are raised in not just this topic but others as well (same with the ERC-20 transition idea).

Both of these moves have degrees of merit and even the hard heads on here acknowledge that. It’s also completely understandable why these measures appear to many to be the ones that solve the immediate problem/s with the current/pending de-listings and in turn improving visibility of the product.

There is an environment approaching where a lot of harsh lessons are going to be learnt as the market likely moves sideways for an extended period as regulation speeds up and other subversive moves are undertaken by power brokers already entrenched within crypto such as the move by Circle in acquiring Poloniex (note this isn’t a bad thing for the popularity of SAFE long term).

With the immense shift we will see in this period there will be a lot of goal post shifting aimed at bringing blockchain projects under an authoritive umbrella (tbh this has already largely happened).

There is no place for any knee jerk reaction from Maidsafe in this environment as for now it is just guesswork and can easily have a severely detrimental affect as it could a positive one. What is current or important now in 12 months most likely won’t be.

With that in mind, given that we may have alpha 3 down this year, an experienced business head with something so explosive (the network) on the horizon will almost always steer a steady ship until the weather turns (just a general observation in business over the last 50 years). As long as they have the funding to get the project to launch we all (minus the speculators) keep on winning.

Crpyto has taught many to exist in a vacuum and that’s why this project gets lost a little and people get impatient with it.

There will still likely be (and please this is only my opinion), a pretty length period of time whilst the network remains in Beta, security testing alone will be an enormous but very important task and might shock people how difficult, lengthy and involved it is. As this time approaches i’ll happily get on board with Binance/ERC-20 crowd if things are where we currently sit, but I’m happy to wager a large amount of MAID with anyone here that that won’t be the case and that developer interest will in fact build heavily through that period.

There is going to be a period where Maidsafe unveil their strategy to us all but we won’t see this in finer detail until we get closer to a beta network. That is what it is and removing any personal bias I have I am personally so grateful that’s the approach that appears to being taken.

Just my brain fart before breakfast, time for a coffee :grin:

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I know Binance founder personally, but I don’t think Maidsafe nor I myself financially interested to fund a listing fee exercise, which is now about $5-10m plus liquidity guarantee upto 1000btc. If Maidsafe team wants to reach out to them, I certainly could help to facilitate.

I am a full time professional investor and now run one of the largest crypto funds and actively engage with community of my portfolio projects is my job and business, active investors are sometimes annoying, face it or quit it.

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Great post with insight! I agree!

One might say that this is quite a remarkable about face from your previous commentary :wink:

Personally, I’m more concerned about optics and access. Trading is not my game.

From the mouth of babes…

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And the rules that security-like tokens have to follow can be a PITA?
EDIT: I should have read more thoroughly. MAID is an utility token, not a security token. Some have ‘questions’ about the utility part.

The last para seems to make it less likely, or in fact quite unlikely Poloniex will delist MAID. I hope that will be reassuring to those worried by the issue at Bittrex.

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I dont see this as something positive atm, i think its to early! Many tokens dont have an working utility yet and the SEC really is bitting on this. So we might see also some delistings on Poloniex and afraid Maid can be one of them. No Fud btw i just think Bittrex is really professional and leading the exchanges in USA. Richie is a really smart guy

Who cares about delistings, code speaks louder than words. app.bancor.network has totally made exchanges irrelevant, it’s just that these kids don’t realize this yet. Delistings pretty much becomes nonsense in a smartcontract environment, even if you do something to the smartcontract, people will just fork.

Let’s all just use Omni dex, it reflects the price of Maidsafecoin way better:

:stuck_out_tongue:

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