I want to give them the coins but the more you think about it, the less sense it makes. Once Hodl’d coins are now about to be sold off to the tune of 10 million and the liquidation of those coins hurts hodlers and loaning persons a like as price drops. It was stated that there are currently enough funds at current prices for 12 months, so why now? The ask is essentially for 1.2-1.5 million dollars which really isn’t a lot of money to raise in another fashion. In addition should the price shoot up during Fleming ect. and then something goes wrong between Fleming and full launch, there is no path out.
10 million MAID are only 2% of the total amount… I do not think the price will go much down…
The percentage of float means nothing
Markets need one thing, to move. They move better when there are more participants. We have already sold more than twice that amount onto the market. It did not hurt at all and wont. When we sell it’s always above the ask and we wait. We don’t jump in an dump coins onto the market. That would hurt all holders and us. 10,000,000 over many months I suspect will be undetectable being sold. Unless we were a bit mad and luckily we are not that.
If MaidSafe has any btc left, I would recommend that it liquidate it now, or at least hedge it against loss.
The global economy is not looking so great, and I don’t think crypto will do well in the short/medium term.
And the burn rate is lower than before, so it’s not going to be worse I guess.
Any chance for a new exchange before beta? With these new coins and funding it could be a nice opportunity maybe?
Right now we are going to be purely 100% on launch. So very singly focused on that
I strongly disagree with this. BTC is in the final consolidation stage after a long bear market. The halving is about 6 months away and I expect the price will rise a decent amount next year. Sell these only when it’s needed. If they can wait until 2021 even better.
Bitcoin is looking very strong IMO. Daily volume has been very high and lots of incredible ramps on have been and continue to be built. Hodl!!
This was one of the reasons I actually bought BTC once. It’s a hedge against a global meltdown. Money printers are really busy these days
@sfultong it’s halloween! … how you not believe in the moon
Btc might be a hedge against global meltdown, but we’ve never actually seen how it performs in a serious gobal recession.
Generally during recessions, people sell risky and volatile assets to buy safer ones.
Given MaidSafe’s position, I think they should be extremely conservative about their assets, rather than holding based on hope.
It’s getting off topic… I’ll just note that BTC has its energy problem, which in the long term never made sense. Also, put all blockchains on safenetwork ftw
All change involves risk. As with life it boils down to what matters. What is worth striving for.
The gold is totally controlled by nation. BTC is good for especially low level freedom countries.
It is not option or hedge tool for them. Essential tool to keep their property safe.
I send a letter. Keep going great challenge.
I am honored to contribute something for this great project.
E-mail sent. Like I said in my other post I really support this lean approach and would like to see it come to fruition - finally! Keep up the good work and pace and keep away further distractions. The product will speak for itself!
I am probably stupid but isn’t 100.000 coins currently something like € 10.000? Quite a barrier, no?
Maybe people with not enough can co-operate?
Another question is when is the network ready to launch? I don’t mean in months, years, or weeks, but is there any good agreement or definition when beta phases will be over and it is time for launch and pay back the loans? Is it for example when real safecoins are introduced? So that there is no way to keep calling the network “beta” in order to not need to pay back.
I’m not meaning to suggest that Maidsafe as it is now would be dishonest, but just keeping in mind that the agreement is between lenders and Maidsafe, not between lenders and @dirvine. So it is everybodys best interest to be as spesific in the contracts as ever possible.
Actually this is quite clear - in regards to my worries above - but could maybe be worded even more carefully in the final contract.
Guess this is implying it may take more than another year to reach a product to give to the wild eh? Of course forward thinking too to launch and getting listed on other exchanges it will help to have extra funding too. As well as marketing/promotion. Also never hurts to have extra solid engineers joining the team.
Wish I met the 100k coin quota but I was not one of the early ones , I have a bit less than that. It will be interesting how things play out because either the coins are worth 0(failure to launch). Or potentially worth substantially more.
Some icing on the cake would be reducing the actual total # of coins that will be created on the new SAFE token to give some more scarcity to the final token product (just need to ensure proper divisibility) but hopefully the current idea works well enough, sounds like spots are filling up fast.
That may change. Polo Just got taken over by Chinese. They may be more interested in MAID than the yanks.