MaidSafe rebuilding secure decentralised internet with BnkToTheFuture equity fundraising

The £1k is a minimum set by BnkToTheFuture. We have asked about lowering this a couple of times, but this is not an option at this point I’m afraid. I agree this is probably hurting us, but we did know about this rule going in.

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When I look at the Synereo campaign I wonder if their "pledges’ are what is driving the fantastic levels of interest, they are listed down the right side of their main pitch page: https://bnktothefuture.com/pitches/synereo. Looks like investors can purchase AMPs with some large bonuses. This takes nothing away from Dor and the team at Synereo of course, they must be thrilled with the response.

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2.3 million is a lot of money. I did not read anything about this fund raising on Business Insider, this is very important online news portal. It would be good to take a look what is a marketing strategy, media out reach and brand building plan, what are the KPI, metrics team in charge of this strategy operate and are they delivering according to the milestones set.

As for resorting to 19 million MAID you have left, don’t forget that price is down 20% in last month. And although this is grey unregulated area ( not like equity, options, stocks ), you have ethical responsibility towards investors in MAID coin, this people are your Customer Zero and your biggest supporters, if you drive them away, you have nothing, whatever product you built.

Much smaller teams, built much valuable products with far less money. I suggest working on a brand, marketing, media outreach, monetization models and strategic partnerships with major players, to give strength to this project. Coding goes so far.

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We are doing that, but it does require a sufficiently developed product/platform to do that.[quote=“geronimo, post:306, topic:11039”]
As for resorting to 19 million MAID you have left, don’t forget that price is down 20% in last month. And although this is grey unregulated area ( not like equity, options, stocks ), you have ethical responsibility towards investors in MAID coin, this people are your Customer Zero and your biggest supporters, if you drive them away, you have nothing,
[/quote]

Agreed, but as someone else pointed out in another thread the coin value has increased in excess of 500% since the crowd sale. These coins are being used to fund development and we are seeing clear progress there (alpha, test nets, APIs, documentation…etc…). Hopefully our supporters see that we are delivering value and see that we are working to remove our reliance on MAID.

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Perhaps you could make investing into the pitch more attractive by giving a MAID “bonus” to investor. For example 1 MAID per Pound invested. So the minimum 1000 Pound investment would give the investor 1000 MAID.

It would obviously mean that if you would raise the 2 million Pounds it would mean you would have raised 2 million Pounds - 2 million MAID. If that’s a big cost then perhaps something along the line of 1 MAID per 10 pounds invested. I guess a 100 MAID isn’t all that much, but it would give investors into the pitch some “starting capital” once the Network goes live giving them and their friends/family the ability to buy some storage space, etc.

It would also be a way to spend the MAID without dumping it onto the market in huge quantities.

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Krekc problem with that is that nobody knows ( I mean not even developers ) what is MAID coin. Coin has a value because of social contract between two persons. They agree what the value is. When you pay 1 euro for bread in a shop. Value of bread is not 1 euro. It is a value you and salesman agreed too. It is always a perceived, subjective value. Now 1 euro can be split in 100 cents, and this gives some objective value to 1 euro. But 1 MAID coin. Can be split indefinitely. 00003849 MAID for example. Now when/if network ever goes production, it will be very hard to ascertain, how many MAID is produced, and what can you get for that MAID. I expect price of MAID to fluctuate plus minus billion percent because it is all maid up anyway. Get it MAID - maid up :smiley:

Personally I think the only reason synereo overfunded before the campaign started is because they are supported by some folks at silicon valley wich have interest in the project.

A couple months ago Dor (Ceo) and some team members went over there following some business/development course to enhance specific skills around these subjects.
They partnered with nfx guild for this and are giving talks over there.
They have a great team and great tech just like maidsafe. They use blockchain but have solutions to big problems also.

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Would be attractive, especially if you let them know, that Maidsafecoin means that they can sell it to developers in the future, who want to make use of resources on the SAFE Network. A loss of 200K Maidsafecoin in exchange for 2M pound at the moment seems reasonable at the current price.

We’ve lost so much already. Get it in investors their head that this is a money that will power apps. Maybe repeat it again how many apps there are in the world and how much it cost to run these. If they can get an idea (price) how much it would cost to run Netflix on the clearnet/webhost in comparison to the SAFE Network.

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I don’t think this is a problem. It’s safe to assume that people that invest on BTTF are already familiar with Bitcoin and crypto currencies. They will also be smart enough to read and understand a short explanation about MAID and that 1 MAID will equal 1 Safecoin once the Network goes live.

You are right that we don’t know what 1 MAID (or 1 Safecoin) will buy you once the Network goes live. We do know however that it will be worth something. It may be an incentive for some to invest, look at it as a nice added bonus. For others it may not matter, but even if it draws let’s say 10 more investors it may be worth it.

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You’re pretty close to the mark, here Mark, but there are a couple of differences. We’ll confirm the incentives later today.

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One thing really important to keep value in safecoin is to keep side projects also in safecoin and only give the ability to use colored safecoins as assets etc.
One example is eth, they use it in every side project and this has some reason.

It sounds like a good plan.

Am surprised the £1m minimum was a BTTF imposition, I don’t really see their logic, except that they can always point to “£1m+ raised” instead of smaller less prestigious amounts. I’m sure I’ve seen pitches with lower minimums too, but maybe I’m wrong.

Not to be too self centred (I won’t hit the roof if it’s a ‘no’ - whatever it takes to get this thing across the line, after all) but I hope any incentives would be retrofitted to those who had already invested? If not, I may have to go back under the mattress for some more!

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I think the discussion about a minimum was in relation to the £1,000 imposed by BnkToTheFuture on each investor, as opposed to the £1m minimum that MaidSafe set. At least that was my interpretation.

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Are you making any changes to the pitch ? Is there anything in your contract with BNK that would prevent you from suspending it for a brief period?

Have you considered that there should be a minimum based on what the company “needs”? I would hope some science went into making a determination if a certain amount was necessary to keep the company comfortable to exit. Its a good thing that BNK has a minumum. Investors will NOT advance money to pay next months bills just because MAIDSAFE needs it. Investors want to know that the funding will carry MAIDSAFE to a point of fiscal independance or a point at which subsequent funding rounds are very attractive. Airbnb just did another round at $550M and they have a proven product. MAIDSAFE has no proven products and needs cash to get the product to market and has no idea how long that will take. That is a very scary proposition to any investor.

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I was watching loyyal on bnk to see what happened with the remaining 7 days left and being underfunded but now it has 20 days. So obviously they got an extension. They have a small amount to raise, $500,000 I believe and are about half way. Thought I would share

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Ive not done much research into bttf practices but certainly they would not get a nickel if funding minimum was not met. So its in their interests as well to get this to the minimum. Not sure Im impressed with the manner in which the stated funding format is abandoned.

So does this tell us that it really doesnt matter where the minimum threshold is? If it 500K or 1M?

@nicklambert As this is not guaranteed, would it not be better for you to keep this under wraps until its a done deal? The fact it may not happen makes it seem you’re desperate to put out something positive. This kinda stuff will backfire if it doesnt come to fruition. Or am I reading this incorrectly? Sorry if I am.

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Yes, we are keeping details under wraps:

So the community should be aware that BF is not the only show in town, even if we can share the specifics of the other discussions we are having.

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