Funding for MaidSafe company - update

#21

I don’t believe so beermenow, as the hype train hasn’t even left the station yet. When the general public grasp the concept of the SAFE network, safe coin, decentralisation, it will snowball to a D5 level.

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#22

Agree 100% of course :slight_smile:

The joke was whether or not MAID would actually still exist at the end of 2019 or whether the transition to Safecoin will have happened :wink:

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#23

Ah, gotcha! Well, hopefully by then, but time will tell. :smile:

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#24

The snowball has begun rolling - there is no stopping it now.

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#25

D5 Darkhorse! :sunglasses:

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#26

A SAFE girl 4 you. WWG1WGA!

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#27

Great promotional picture DarkHorse. I really must mention the rendering on that wall needs going over one more time, wouldn’t you agree? :smirk:

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#28

Hello Nurse!!!

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#29

Bringing down elevated hashrates to within SAFE levels since 1999.

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#31

Friendly Bump, as today is April 24th, exactly 12 months later.

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#32

Would be nice if they did just offered this insight themselves on an annual basis for the community to be open and transparent(yeah I know I can find public docs out there, rather hear it from them), April 24th indeed. If we are to apply simple logic here, then hopefully MaidSafe feels that in the time passed since April 24th 2018 they are 50% closer to product release considering we are at the halfway through the burn rate of 24 months of the last estimation.

#33

Probably a bit more in the kitty given the lift in BTC this year

1 Like
#34

Understandable that people want to ask this.

Just my two cents, if you just accept that current reserves will dry up at some point in time (they may very well not) but Maidsafe are capable of reaching the next milestone prior to then, the sky isn’t suddenly going to fall in.

Demonstrate this technology can work at it’s core level and the idea can most certainly be successfully pitched to any number of audiences.

When I look at this project as long as there are solid proven heads like Andy (and there are others) in the shadows watching over this project i’m happy that this bet has the legs, irrespective of the obstacles, funding included.

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#35

I don’t think there is really a fair way they could sell more MAID. That said what did they sell in that last round? like 10% of the company? Show it has huge profits on the horizon in the next few years potentially and I am sure they have the capital reserves to sell more shares until they finish it. The reward for them to hurry the frack up is they still own more of the company when we get to final.

#36

That seems a silly statement. They have whatever MAID they have and they can sell it however they want. And it’d be fair. Selling smart is another issue.

Remember no one can create any more MAID, not even Maidsafe. Go look at the MAID asset properties in Omni

They sold 6% of their shares with a special company setup by Banktothefuture which hold the shares and people bought shares in that company.

I get your meaning and agree. The capital reserves is not meaningful here. It is capital and recurring reserves that the selling of Maidsafe shares would build up. If they already had the reserves then why sell more shares?

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#37

SAFE development is still carried out, I believe, entirely in house by staff paid by MaidSafe Ltd. If that’s indeed the case then the whole project is at basically the same level of risk as any other corporate start up. Indeed they could issue more stock and as long as that doesn’t include a premine of safe coin it wouldn’t dilute maidsafecoin holders.

Wouldn’t it be a smart path forward for MaidSafe to put all resources into getting the MVP launched (stable decentralisation of distributed and encrypted file storage and replication). That would mean deprioritising anything that isn’t directly needed for those core features, such as hole punching (UPnP would work), mobile (command line linux is fine for MVP adoption), etc?

I’m sure there is good reason why not such as access to capital we don’t know about (but yes wed like to know about it), or that mobile, crust etc are essential parts of an MVP somehow.

As soon as there is a useful function available the open source community will take ownership of the project and from what David says, this is the aim.

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#38

That will bring entire open source community’s attention!

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#39

I will be very surprised if they get the Network up and running in beta with safecoin within another twelve months … I’d also be surprised if their assets have gone up in value over the past year (but of course it is possible) … so left to suspect that they will need to raise more funds soon if they haven’t already started down that path.

I don’t think this should be much of a concern as they’ve made great progress this year and that should translate into investor interest.

I do hope I’m wrong though and the network beta with safecoin goes live within 12 months! :wink: That would be seriously awesome.

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#40

sorry I meant I don’t think there is a fair way to create more MAID. Like if they said ok we are premining a larger percentage now and here is a new token maidsafe-B that you can buy. That would not be fair to people that bought maidsafe-A assuming that was all that would ever be premined. err pre-farmed I guess I should call it :stuck_out_tongue:

#42

They still have 94% of equity in the company they could sell. That would not dilute anything. If they break their “promise” on MAID then people start being like hmmm can I trust anything you say? Will you protect your investors interest or just take their money and give them the finger? When people start asking things like that it could really devalue the equity in the company that you could legit sell without pissing anyone off.