well coins with a promise are a dime a dozen in the crypto sphere. I think if people looked into it more they could see there is considerable development of the SAFE network right now… but really most won’t have time to look at another promise, they are looking for deliverables. I think when we have vaults from home and test safe coin a lot of heads will turn like hey this actually seems to work!
Maybe it does. It could be even lower without this progress. It certainly hasn’t produced the expected results, but it is impossible to know what the price would look like without all the progress and news.
I agree. We just got the pressure of longs wanting to close before polo force liquidates them all. That said, I am totally buying right now. The optimistic dev updates have me trying to get under that and catch those knives. 6 months ago I would be like lets see where this bottoms out first.
This might have been covered many times before, but why not “pre-mine” more?
What is so magic about 10% that the company has to struggle and risk failure? Why not 12%, 15% or 20%?
Is it because of some promise to early investors? (I am not talking about increasing total supply mind you, that ICO promise I am fully aware of).
Even so, if we imagine the end of a runway, which is not near at the moment, but could be in the future: that promise IMO could always be renegotiated as to be up to date with everything.
It is like the most tiny of unimportant and trivial compromises I can think of in such a situation.
Issuing more MaidSafeCoin does not change total supply of Safecoin. Of course it would push price down for a while, but if MaidSafe holds Bitcoin, then it’s not detrimental to company funds. And again, such a downturn in price would only be temporary, as it’s not actually a dilution of total supply.
ICO contract as per conditions of the ICO
As soon as you mine them the market value of each MAID drops by the same amount.
So I’m sorry but I wasn’t there at the time, do you happen to have the exact passage of the contract (is it a contract?) that makes it impossible to pre-mine more MaidSafeCoin?
And btw, all contracts I know can be appended.
There is no law that does not need to adjust to reality.
Yep, I thought I covered that in the post.
A temporary drop would be the sacrifice. But it could be made in a smarter way, trickling it out.
Yes it is impossible because of the omni asset for Maidsafecoin is set to a fixed amount and no one can create more
OK, now you’re talking technically ‘impossible’, you said it was impossible in the contract, that’s what I was asking about.
The technical part I can definitely see solutions to.
I mean. This whole thing is really mundane if it could actually prove helpful.
Maid has dropped by >80% since ath - so a 5-10% drop (as in selling the accidentally created maid that still exist and could be used) doesn’t really look like a too strong argument to me
I don’t exactly remember how many excess coin it was that have been created but I think it was like 450 million instead of 420…
30 million coins.
At $0.2 that is about 6 million dollars for MaidSafe.
Or if it goes for half it’s still $3m. That is a whole lot of extra fuel.
And also if a increase in supply happened after alpha Fleming than the drop would probably not have to be big or even a problem due to expected price gains which would also give that a lower amount MAID would be needed.
In phases of rise/movement there is so much volume in the exchanges it wouldn’t even be recognised…if done smart enough
But ofc doing a official sale after excellent news and after a jump upwards could have a smaller impact on the ‘natural movements’ of the market…
This idea is not new and another negative is trust. Once you print more coins then the market loses confidence that there won’t be even more printed. Maidsafe company desires to be and be seen as truthful and trusted. Print more coins now and where is the trust.
As said above when someone suggested printing more coins through a new 2nd ICO, the response by Maidsafe was that a 2nd share sale would be the method used and not printing more coins
Trust you say.
So, changing direction, adapting to reality, doing something else than what we thought was necessary 12 years ago. That hasn’t already been done, like over and over?
Maybe that put a dent in someone’s trust, but most seem to be diehards, understanding the needs.
Yeah, C++ had to go out, launch was not when it was thought, Crust had to go out, some people left. Etc etc. There’s been change all the time. Some totally unexpected.
This however would not be an unexpected change.
And besides, what do you think running out of funds does to trust?
What is preferred?
Well, I think MaidSafe has many times, and has the full right, to change their mind, adapt to reality, and make sure the project can finish.
As with any start-up R&D company, if enough progress is shown, transparency and effective use of funds then I believe trust won’t be a problem as added funds would give future value, especialy if the alernative is a fail and value that goes to zero. I believe when alpha Felming is released then there will be trust if more funds is needed.
I have a small bag, I could donate half to MaidSafe, but it’s not going to change anything.
I ask for everyone to be prepared to sacrifice for MaidSafe, well really for SAFENetwork. I mean, I raise the idea of it being an actual possibility. It’s a move the community could make voluntarily. I haven’t really heard of anyone looking at it that way before.
If MaidSafe would have to choose between bagholders prioritizing their wealth, and the project, the choice is easy IMO.
Everyone who stays truly are supporters, the others were gold diggers.
Besides, the gold diggers will return…
I think you’re being too afraid of something only existing in your mind
2016 someone sold 7 or 12 million coin to someone who just wanted to manipulate the price - in the following 2 months the price declined ~15-20 % because the trader wanted to get rid of the pile of maid again - early 2018 30 million coin have been moved to polo and probably have been sold by now …
Sure there would be a shock - but it would be forgotten as soon as there would be great progress, a basic network with test coin and a rise in maid value because of the grown interest
What about every one interested that much in funding of MaidSafe can buy MAID directly from MaidSafe with 100% premium for bronze nickname, 200% premium for silver nickname and 300% premium for gold nickname on this forum. Each sale would be worth of 1 Bitcoin so about 25k MAID for bronze, 16,7k for silver and 12,5k for gold.
Sure, any idea is good. But that will most likely not have the practical effect we want.
I don’t think that will bring in anything significant.
I mean, nicknames, who cares about that. It goes beyond that. And as I said, I can donate, and surely many more can. But what would really be noticeable is if everyone was in on it. That would make a difference.
And I believe a majority of supporters would be prepared to help out in a way that would be contributing to the project and long term beneficial for their own holdings.
There’s been mentioned that some clause in the ICO contract prevents any change.
I have not seen the clause, but any contract can have amendments. There is no law that does not need to adjust to reality.
~30 million extra coins exist that has not been released?
That could give $ 3-6 m to MaidSafe.
We’ve seen numbers like that absorbed before and price recovered. It’s not about price dropping, it’s about A. That is temporary B. A small sacrifice to secure the project C. The extra funds in itself increases the long term value.
It would be to give some extra push, to help them do this. They are surely already giving up a lot to do maximum amount of progress with what they have. Why should we stand by the sidelines watching.