Funding for MaidSafe company - update

A plug and play storage drive would certainly be a good start, so long as people make enough to cover their costs. TBH I’m not that familiar with cryptos and haven’t seen an out of the box mining company rig, but I know Sia developed their own ASIC for mining Siacoin and promptly had it copied by Bitmain.

IMHO the application layer with an easy to use API and preferably one or two really professional apps will also be needed as a minimum to get people interested.

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There are new companies popping up with plug and play mining devices. These have a decent CPU/memory as well. I recently ordered one and am yet to receive : )

No software downloads, nothing. Just plug into a wall socket, select the coin you want to mine on the App and the device does everything. The device comes preinstalled with all software. All software updates are also handled directly via the App - just click and it updates the device.

Once the SAFE network is in beta or close to launch, it will be great to have one of these plug and play device companies to also enlist SAFE as a coin on the App. It will help adoption overnight and make storage available on 1000s of devices. Certainly, as awareness grows, people will earn SAFE coin directly via their computers etc as well. The above plug and play model is just a simple way to bring in the folks who are not fully familiar with infrastructure/softwares needed to be able to earn Safecoin.


Storage alone no, but storage which is kept forever with No monthly fees- yes :wink: On Sia and Storj contracts are time-based, if you forget to renew your information is “bye bye Miss American Pie” :smiley: The thought of this causes my brain to explode…


Just on this point, it maybe on the surface seems straight forward and sensible to do this but the considerations have to go a lot deeper than that.

VC is in many ways still viewed poorly across Europe and there isn’t really any legal or fiscal standard across that continent for it as an asset class.

This can cause a tonne of headaches for any proposal and it’s a consideration that doesn’t just disappear whichever direction or industry seemingly positive or otherwise you choose to turn.

The US VC market kinda tends to be more of an advertisement for Hoover Vacuums, control the market share by acquisition at pretty much any cost.

Sure you can cherry pick a firm from anywhere who on the surface seem to be on the same page but there’s perhaps some extra considerations than just picking a ‘well known or friendly face’ so to speak.

Tally was a really smart subdued choice way back when, as was MaidSafe Asia and the additional flexibility jurisdiction wise they’ll offer down the road.

Don’t expect any fireworks if MaidSafe need to go the VC route it’ll likely be a carefully planned move with considerations that run far beyond the Corporate level.

Could easily write a novel on the above but it’s kinda like folk banging on about partnerships with ‘big’ players prior to launch, just don’t forget the Sheep and Wolves look almost identical in Crypto because of the cash and control element that now exists.

In fact I’d argue the Sheep and the Wolves probably all look alike now whether it’s intentional or otherwise.

5 Likes doesn’t seem that bad :wink:

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I asked a similar question a while back, there is someone on the forum that was looking in to this.

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If the Hackathon planned for September is a success, there should be no end of finance funds lining up to invest

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I agree and still think storage alone is huge on its own. Millions of GB are being added on daily basis and will only grow. All old data needs to be archived too. Lets start with storage. Develop/roll out Storage plus solutions (broader new internet theme) - if it slowly evolves into something big great - else storage alone is huge as well and if SAFE decentralized storage solution is designed as stand alone feature/module, it has tremendous potential given its advantage over all existing technologies. Not to mention, decentralized storage will never be an issue for any firm/govt or any authority and serves as good hedge to the overall project too.

On the point on VCs, my first pretext was find one that is aligned with the company’s vision. This project will need professional mgmt/input/connections/contacts/experience to scale adoption etc to succeed. Look at Blockstream/Blockstack and several decent ventures that are truly committed to decentralization and also funded by VCs. If Inrupt can go VC route, without compromising on Sir TBL’s vision, so can SAFE, I think.


Can beginning of bull run change this plan ?


If the bull run continues it would potentially push out the time frame within which we need to raise more capital, but to continue to scale the team and market the network we will still need to raise. But really good to see a wall of green on coinmarketcap again, long may it continue.


be aware of the ongoing price manipulation , might be good idea to sell some btc before the huge dump which might occur soon.


Too bad you just never know when to buy and when to sell. Idk when the mania dies down now, 9k? 10k? Will those hit in a few days? Do we see 20k in a few months again? Jeesh its been crazy times here in the last 5 days or so. For as risky as it is for MaidSafe to hold a chunk of assets in crypto so far its kept them alive so I wish them the best at figuring out when to hodl and when to sodl.

For fun I imagine once a month David and Nick huddled in a dark room with a laptop logged into one of the big crypto exchanges constantly asking each other:

Bull Market scenario:

Nick: “Sell now David?”
David: “No Nick, just 3000 more dollars, let it pump!”
Nick: “David its going so much higher, we must unload!”
David: “Nooooo Nick, SafeNetwork needs this extra runway, think of the new hires my lad, let it PAMPPPP!!”
Nick: “Sir, we have landed on the moon. Funding secured for the next 5 years.”
David: “Aye Aye, steady she goes Nick. Steady she goes.”

Would make for a good MaidSafe comedy skit in the future by a quality digital production team :laughing: .


Does this mean the network is still far in the future? There was some hope to be revenue generating soon. How is that going?


Well the company needs to not just be revenue earning (this will likely happen on launch of full Safecoin) but also profitable (revenue exceeds costs) to be sustainable and not require additional funding. The roadmap materials released last week provide a flavour of progress of the components required on the way to launching Safecoin.


I’ll be checking our meeting room for bugs, that is pretty much how it happens :smile:!


Do you really think there will be any new buying mania? All those who got burned 1,5 years ago will not return so easily. All the buzz and hype is manipulated to make to whales even richer. Ever heard of the tether case? -Good tool to maniupulate the prices. Whales will wait for the temp hype to peak and they will start cashing out. Funny how crypto news post price predictions saying btc will be 100k+ in the future. Someone pays for this hype building BS predictions, to convince the fishes they can someday become rich thanks to investing in crypto.
Honestly this price for BTC is mad high and I dont see it going any higher, I do think we will still go lower than 3k in few months.
Sad world we live in, Sorry to say but I see no future for most crypto, even BTC or ZEC, as they have no fundamental value. Maid is a different beast, and with more and more encrypted data stored on it, the fundamental value of the safecoin will be rising.


BTC is the first ever secure immutable online connected ledger the world can use as a store of value, as long as people associate value to the “magic internet coins” it will have value. If peoples perception change or the tech becomes unreliable then it could all collapse but for now its new and techy and many want in.


the tech is unreliable, imperfect and obsolete. Tell me in which way btc is better than zec tech wise?

I don’t know what “zec” is … and that’s the problem. Whatever “zec” is, it may very well be better than BTC. Technology builds upon itself, so a later crypto should be better than an earlier crypto, or somebody did something wrong. But BTC’s name recognition is a huge deal and random altcoins, even those who are better/faster/cooler, will have huge difficulty raising to it’s level.


What fundamental value does diamonds have? It was marketing hype that associated them with love that has stuck. But really they are just compressed coal. And what about gold?

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