MaidSafe rebuilding secure decentralised internet with BnkToTheFuture equity fundraising

I completely agree. The tricky bit is how to keep money coming in when you follow a different path. Luckily I have a few plans for that :slight_smile:

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The upside of being in the vanguard of devs working with these new protocols surely outweighs any downside possibility of it all being fruitless?!

We all have to take calculated gambles in our lives. To my mind the really important thing is to always make sure you shoot for the biggest upside, so hopefully you end up getting somewhere amazing eventually. :wink:

Good luck with your plans!

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Thanks Jabba,

Hopefully I can make the correct calculated gamble’s in the coming years.

I also wish you lots of luck with all your ventures.

I’m a long time lurker on this forum, so will try to be more engaged in the posts in the future.

All the best :slight_smile:

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Now that Bitcoin has shoot above $1000 I believe the development funds should last for at least 2 yr+, right @nicklambert?

Can you share with us some updated figures about the available time an expanding team will have on their hands and about a sped up hiring process?

Thanks

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Only if they sell it soon… But yea, would like to know aswell

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Sure. The £500k or so that we took in in btc at October is now worth around £960k so has given us a bit of extra room. Monthly run rate is around £80k so we have an extra 5.75 months as a result of the price increase, all things remaining equal.

As you know part of the reason for the fundraising was to scale the team to speed up development and we are hoping to grow the team from around 18 at present to 33/34 staff by the end of 2017, provided we can find the right team members, which of course if a challenge for every software company at the moment. We’ve actually had a few decent CVs come our way over the Christmas holidays so hoping we have some more renew recruits soon. So our run rate will also increase significantly but very difficult to predict the speed at which this will happen.

I hope this info helps!

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Great, thanks @nicklambert

Did you sell some of that btc or do you convert it only once you pay for anything in fiat?

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BTC is now about $12 away from its ATH. Good to hear that Maidsafe can benefit from this rally. Long may it continue. Good luck to all in 2017.

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Not yet, much depends on how quick we can hire/launch etc. We have chased our tails a little wiht the changes in routing taking so long, but that team is really increasing in many ways, people, skills etc. so lets hope that last of the big showstoppers is behind us now. I am hoping for a break very soon, but I always do hope :wink:

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Thanks, it’s like the polar opposite of our original crowd sale where btc plummeted :slight_smile: We all deserve a break sometimes. We are now close to be able to sub contract some components out for more speed. It all helps and we take every opportunity to go faster, lets all hope this keeps going and allows us to really accelerate, not only through launch but also beyond though application development.

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It seems then, now, in retrospect, a fortune I had problems with my modest BTTC Maidsafe investment through a bank transfer and therefore went for the easier Bitcoins transfer (for me at least).
On the other hand probably one of the reasons that Bitcoin is increasing in value.

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When the btc price went up my very first thought was I hope this helps out the team! Maidsafe is always at the forefront of my mind for a lot of reasons but mainly to see @dirvine vision of freedom and a better future for all to come to fruition. So glad the price rise helped! As far as sub contracting that most likely is front end and design stuff yes? And mobile should be a swift launch with Apache Cordova as well?

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Wish there is another equity sale with the same values, my btc was locked up around that time so i missed it.

If I may be so bold, you were well aware of the equity sale and its one-off time limit. Nothing to wish for that you haven’t already had the opportunity for.

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If i saymy btc was locked up, obvious means i didnt have the opertunnity at that time.
Otherwise i would.

Where do they lock up BTC? And threre was me thinking cryptocurrency meant being your own banker.

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There are a lot ways you can lock-up btc. and get a interrest etc

Can you give me one as this is news to me?

Some of his BTC were locked up in MAID, that he wasnt willing to sell at the current price IIRC.

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Margin trade, lending your btc, borrow to friends. There are many ways