MaidSafe Loan Opportunity - APPLICATIONS NOW CLOSED!

A year or so back I asked/suggested the total number of tokens at full supply. I don’t recall the reason but people seemed to think that changing the supply would be perceived as an initial lie by the company. I remember not liking that answer at that point.

2 Likes

Wow this is a spanking opportunity for bag holders/hodlers!

1 Like

I am sure anyone personally invested in MaidSafe that has not made a profit so far would not mind seeing the supply cap reduced to say 1 billion from 4.2 or so. I mean I kinda would perceive Whitepapers/Project-Safe.md at master · maidsafe/Whitepapers · GitHub as a very misleading statement at this point in time(from 2014 whitepaper). It was totally inaccurate of what became reality. So I don’t think anyone would complain at “A quantity of 429,496,729 coins will be available for purchase, this equates to 10% of all safecoins” Not being accurate either as long as holders benefited for the better :grin: .

1 Like

If we did that maidsafe would never have a revenue stream. So we are incentivized to launch safecoin, for nothing else than it’s our purpose really. :wink:

7 Likes

I mean as long as it’s divisible, in my opinion, is all that matters. I would love to see a reduction in total supply while we are doing all these changes of scaling up down and back.

1 Like

I certainly hope not. I am pushing every day and the team are eager as hell to launch Fleming and iterate that. The reason for more fuel in the tank than is seems we need is purely you always need more than you think. I am erring on the side of caution here. Basically to allow us to stay focused on the goal. getting into business plans (that nobody believes, but everyone wants) and long drawn out months of meetings for funds would kill our pace and focus. It is that simple, we go to war well armed and prepared for the unknowns we will face, well as much as is reasonable to be prepared anyway. Hope that makes sense?

27 Likes

What a wonderful Christmas 2020 would be.

2 Likes

!remindme 1 year :pray::pray::pray::pray::pray:

This is a great offer for Americans that have to decide tonight if they wana dump complely or long term HODL until another exchange picks up MAID. Personally though I would rather be able to trade. Maybe I am just cocky but I feel confident I can increase my bag by much more then 50% in a few years of trading.

What I would be interested in is loaning some MAID and getting test coins in Fleming. I would not even expect any interest on the loan. Just give me those coins I can use for now and later we destroy them and you give me the real coins back.

5 Likes

Yes, yes it does. This type of lean no nonsense approach, the grit, the execution, is admirable. I have full confidence that the project will meet it’s launch goals. You and your team are in the arena. Rock on.

Now that you are operating 100% remotely, do you have any plans to onboard additional computer programmers/engineers/scientists? I know it’s a delicate dance when it comes to Brooke’s Law however.

5 Likes

Makes sense.

As long as funds are available, hopefully this is how its put to good use :laughing: :

while(!network.isDelivered() && funds >= weeklyPayChecks) {
Thread.sleep(604800) //Work week in progress here folks.
funds = funds - weeklyPayChecks;
engineerMoola = engineerMoola + weeklyPayChecks;
}

Although the above assumes 7 days of full grinding, although perhaps some of you are putting in that much crazy effort already.

Best of luck, hoping there is enough coin demand when you do go to sell to fund development. Will be interesting to see if we get a bull market 2020 again for crypto in general, could help yall out a bit.

2 Likes

I’ve sent letter … would be good to get a return receipt email ASAP to notify that email went through okay.

3 Likes

I wonder if it’s possible for them to sell any Maid OTC?

1 Like

David replies, so when he wakes up I guess he’ll write to you too :slight_smile:

4 Likes

Let’s put some real numbers to this…

The orderbook may appear ‘thin’ but in reality there’s a huge amount of liquidity.

API for all historical daily trades volume on poloniex:

https://poloniex.com/public?command=returnChartData&currencyPair=BTC_MAID&start=0&end=1572586487&period=86400&resolution=auto

Running some stats on this:

Average daily volume MAID: 2,206,104
Max daily volume MAID: 47,522,844
Median daily volume MAID: 764,159

Average daily volume BTC: 278
Max daily volume BTC: 10,289
Median daily volume BTC: 42

At the current price 10M MAID is 130 BTC, or at the median daily volume about 3 days of trading.

The poloniex orderbook is not a good indicator for liquidity.

11 Likes

I agree. If they’ve cash for a year now + this loan gives another year; and then they convert the maid loan to cash over this two year period … then

10,000,000/ (2*365) ~=13698 maid/day assuming a price/maid of $0.20, that’s only $2,740/day.

They might not sell every day, but it’s not a bad strategy for buying or selling, so they might do fairly regular selling. All up it won’t add much to the market or affect price too much.

In reality this news of cut backs and seeking a loan is what will affect the price the most in the short term.

5 Likes

So price will be suppressed, and It will not go up much

No they are saying its nothing compared to what is traded now

6 Likes

APPLICATIONS NOW CLOSED! - Sounds like we money bombed that one hard! Nice work, y’all!

13 Likes

At 1 hours it was 70% filled. And I saw it some 10 hours later, so I’d say it was full then

7 Likes