MaidSafe rebuilding secure decentralised internet with BnkToTheFuture equity fundraising

I’m not in that situation right now. How should I know :smile:. Depends on what you want. I know folks that don’t want to touch coins but rather have stocks. I also know people that don’t own stocks but do own some coins. Depends from person to person.

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I’m afraid thats not the case. The 5% are not Maidsafe specific, they are for the core devs. Only the first 4 (iirc) years will Maidsafe get exclusive payment. After that, they get a part of the 5% just like anybody else who will be doing core dev. I’m pretty sure Maidsafe will be the main core devs for a long time. Still.
I would assume the 5% will be hardcoded to the foundation (if not technically, then by law or whatever), and the foundation has to use it for the core development.

/edit in the bttf pitch, for instance, David says that they will get a chance to get some of that 5%. I forgot where it’s explained in more detail. It’s somewhere, maybe the whitepaper?

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Personally I invested 2/3 in coins and the rest in the company, but atm I’m regretting it because I want to be able to back it even more if it seems to be necessary. I dont want the FR to fail. But with the current prices, that plan doesn’t really work lol :sweat_smile:

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Is it clear enough what the equity means for an investor?

I’ve not looked closely being tapped out but surprised on first pass it is not more obvious.

Query atm on reddit about this: Equity vs MaidSafe vs SafeCoin

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This might have been the old idea. This is how it’s stated on the BTTF website.

Check the website. You confuse the 5% with the 10% for App devs.

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Huh, this doesnt really make sense, does it? I’m gonna check it, you got me worried and confused. Here, have a flower :sunflower:

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Really, this pitch missed the psychology of what drives investment in crypto (and beyond).

The killer app for bitcoin has ended up being Alts/speculation.

It feels very much like the beginning of the online poker boom in the world of crypto right now.

The greed and gambling fever is a self-fulfilling prophecy of huge ROI for the early birds in every solid project.

You have to feed the beast a little fomo when you design your pitch, that’s the life-blood of this world, even if it isn’t true for most of the people reading this post ;).

EASY WIN would have been: £500k target, £200k min, ensure £300k is bought up before it even goes live by interested parties who you warn that it might sell out instantly (give community 24 hours of preference as ‘supporters’ to get the total up pre launch). If on day 1 people see it nearing the target they panic buy the confidence (trust me, even I’ve done it a few times :confused: ) because not all allow over-funding.

People do not always do due diligence just because they are putting £30k in. To many people £30k is like a few hundred to most of the rest of us. They will stick it in if they feel confident because everyone else is doing the same thing.

Then you do allow over-funding and let it take you to a million or beyond with no pressure.

That £2m target with no prearranged buys was always going to end badly… Why do you think it sold out so fast in 2014? Did everyone get comfortable with the business model/tech/team etc? No, they were just scared of missing the chance to get in on something that everyone else seemed to want to get in on. :scream:

Putting an upper limit is really effective way to create the fear… unless you stick it so far away that everyone starts wondering why no one else is putting money in and why it isn’t getting anywhere near that limit, that obviously has the opposite effect.

Not that any of this matters in the grand scheme of things, apart from as a learning experience. Even if the BttF pitch does fail I suspect we’d look back on this blip in a year and see it as pretty insignificant.

Crazy though, I bet this will end up being the most profitable missed pitch on BttF if it doesn’t hit target! No surprises, if it was easy to see the true value it would already be $1 a coin and there would be plenty of cash.

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Why not? Other cryptoprojects use a premine like 5% of all coins going to the developers at the beginning of a project. That always causes trouble as they burn though it over time. In this case the coins are only paid to the devs (in this case the company) as they’re farmed. So this will create a steady stream spread over time. This is way better than premining and much more fair.

The 10% might be created for PtP. But a lot of software will be open source without using PtP.

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It’s better, but not decentralised. Ill check it later, gotta eat.

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@Jabba that makes so much sense I think you should be a consultant for maidsafe. I have a lot a faith in Nick but what you just described is a hype machine that probably would have overfunded the crowd sale. I think the current goal would work later down the line but right now your approach would have been ideal I believe

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Im not piling on here and sorry if you feel I am but this point is very true and, IMHO there are other factors.

David Irvine has unmatched talents and is up there with the smartest guys in the room and Im sure would be voted into a list of top noble thinkers. But this does not make him a salesman or a marketing genius.

This campaign needs fresh eyes and talented marketers who have NEVER heard of Maidsafe to review it, challenge it, clarify it and then publish it. This campaign needs to pull out all the stops and hire professional presenters to do “current” videos that clearly demonstrate potential and bring the best of the best features to the forefront and back the claim that this is nothing like anything before it.

IMO this BNK is premature and if possible be postponed for 4-6 months when vaults are live and test safecoin is launched. This could well take this oversubscribe the USD $2.6M

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Yeah people are obsessed with blockchain right now, because it’s “proven.” To me personally I see it as people are still also obsessed with the days of fluff, where XCoin raised 80x-100x in such a short span, etc. A lot of that is gone, since Factom is the only one that has risen 20x+ in recent history (maybe others, but I only briefly looked). But I do think a little bit of that mentality (or a hella’ lot?) is still prevalent in people’s wishes to see a quick buck via fluff. Could argue that SAFE Net is technically fluff due to its unproven nature so far (which, to prove, takes months or a year after the full product is released? not sure, maybe someone has a better inclination/idea), …but the developer team’s history and direction being better than anything out there right now (technically speaking, because of surpassing the blockchain) completely bypasses that, for me.

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lol flattery :wink:

There’s plenty of cognitive surplus around. I can vouch for the fact that my old pal Danski would have said the same thing (6 years on the same marketing team). We had a team of a dozen people and still made plenty of mistakes that we all had to learn from.

I think we need to find a way to use community input earlier. None of us know it all, but we’re all good at something and we all have a different way of looking at each situation…

Nick/David can make use of a lot of brain power/experience, the only price is a little sifting of wheat from chaff.

Other companies don’t have this advantage… if they have supporters they are mostly retards. Use this very unusual situation. Crowd source some creativity and run stuff past us… I dare say the last crowdsale would have gone better if lots of people had a chance to think about it first and it looks like this one could have done with it too :frowning:

Open source ftw :stuck_out_tongue_winking_eye:

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A clear answer to what the 6.25% equity means, would be a good start. I wouldn’t know what to suggest that represent if asked… beyond guessing that it’s a piece of the future :smiley:
Investors are looking for a ROI but is there a clear statement of the source of growth in that. Those of us following progress for a while understand it but the pitch I hope includes something directly addressing that. Perhaps @nicklambert can add more so that community can think on what else they can do to promote awareness.

My thought to date has been that the bnktothefuture is looking to a different audience but perhaps that’s an assumption and it’s more of the same crowd that were drawn to the initial principals and delivery that saw such success at the cryptolaunch, Points above about the nature of speculation noted but all investment is similar and motivations are all flavours.

2cents

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why were maidsafe’s and synereo’s pitches lie before they were on the search page?

It is very surprising about synereo’s investment. They are now at 3million I think it did help that their minimum was low because of what you said about fomo

This just means 6.25% of the company Maidsafe is sold to investors.

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I assume they do it every time and preferred investors get first dibs. If they like something and it’s small they just take it all - as can be seen happened twice before. Not very fair really.

It also helped that synero did the scaling % bonus of amps for investors, so big pockets were incentivised to go for $120k each to get the max # of free amps. Although a whole load of something going nowhere still 'aint much lol :wink: /biased

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The term equity refers here to the original money invested in the company. In time, this will be supplemented by the profit retained by Maidsafe ie not distributed as dividends, but for the moment clearly this is no profit. So the original stakeholders are just selling a small piece of this capital to the public.

Yes, obviously so by definition but what is the ROI.

I admit to being lazy but perhaps that’s the point… most investors are greedy; it needs to be put in front of people rather than expecting they can see it for themselves.

I think somewhere recently divine did suggest the key prospects for company profit; so, I’m just hoping those are being hammered home and having not seen it on a lazy first pass I’m wondering if they are clear to all. See above the reddit query needs an answer along these lines.

Also, and I’m guessing here… I expect the valuation necessary needs to be obvious too… at 6.25% for £2m does that suggest the current value is £32m?.. its a fair value given the quality we see and the prospects but again investors want to be spoonfed reasons to push buttons.

We can’t know that ahead of time. Nick stated they’re aiming for a 15X return in 4 years, but it’s really all guess work at this stage. I strongly urge people to invest, but I also think they should only invest what they can afford to lose, so to mentally right this off. Very few start ups succeed, even fewer go on to become multi-billion companies.

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