MaidSafe Update - November 2019

I think the latter (21 characters)

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Hope can the burn rate be without salaries when they are all working from home? That’s a hell of a lot of yum yums!

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Thanks @dirvine and team for all your hardwork.

:cry: for all the kids that will be without a job (good that some will keep working on the project) Maidsafe staff should always have a job (this project is that game changing).

Just keep your focus super ants, you’ve become extremely efficient at solving this puzzle. Love this community and it’s determination to see this project launch, hang in there ant family.

:stuck_out_tongue:

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Yes everything in Engineering still goes, but pretty much that is a sole focus now. I don’t want to have any other distractions apart from products, right until we launch the network, even in Beta.

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£60K is total monthly costs, it may increase a bit, but salaries are the vast vast majority of it now.

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9 posts were merged into an existing topic: Proposal: community takeover on MaidSafe social channels

The night is darkest before dawn. I believe we are close :hugs:

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I don’t know if I agree with ditching the paid marketing team right now. Reason being Fleming is (hopefully) on the near horizon. When that happens there is a real useable product to show people. Up until now it was promoting something we will have later but at Fleming we can promote something that is live today. Maybe it was not generating value equal to or greater then the costs in the past. The landscape is going to really change soon though and it should be a lot easier to sell.

One way or another we are gonna need to find new customers in the medium term if we don’t want to see the price go down IMO. That loan deal unfroze a lot of MAID so the supply on the market is going to go up… but I don’t see that many new people joining these forums. For the company to be able to sell all that MAID they need someone to sell it to, and marketing is the way to find those people.

a) That loan deal increased Maidsafe finance stability a lot. Higher financial stability of the company results in a slight derisking of the project probably resulting in increased valuation of MAID.
b) Reduction of fiat costs from 160k to 57k means almost 3 times longer runway with the same funds.

Based on two facts above I expect Maidsafe to reduce the speed of selling MAID by a factor of 3 or more. Based on other factors like MAID price being on all-time lows while liquid finances above the optimum I wouldn’t be even surprised if Maidsafe almost stopped selling MAID for a while.

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Sure, send your donation and pay their salaries. If there is money for 12 months at $60k, than how much money is there at $170k? They would run out of money the day Fleming is released.

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Yes I would agree the fundamentals got better in a way and maybe make current investors more bullish. That was not really the branch of analysis I was exploring in that last post though.

I am just wondering about the MAID that’s gonna enter the market that was otherwise gonna get HODLed long term.

A) before they were selling a mix of MAID and (maybe mostly) BTC.

B) the sell pressure of the MAID they had before the loan was already priced in. Now all this MAID from people that were gonna HODL til final will enter the market early.

In regards to their runway that is highly dependent on the MAID market not crashing under this new sell pressure. I see 2 general routes to achieve this

A) Somehow refreeze that MAID. Spend it on stuff where it doesn’t get liquidated for fiat right away

B) Find more buyers. I think we both agree that we are scales of magnitude undervalued and if we could just get the word out the demand could easily go up enough to make this supply increase a non-issue. That’s why I am saying what we need is MARKETING. If the dev team isn’t gonna spend money on this maybe current MAID holders should donate to a pool so we at least have some paid effort. Also I know some great people like @dimitar do like huge marketing efforts just for the fun of it or something lol. I would say we owe that guy like 100 grand min by now :stuck_out_tongue:

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This is what we don’t and can’t know. You may have noted that I thought it was all BTC until recently, when it appeared that it might be mostly MAID.

I don’t know, but I’m now thinking most was probably MAID, and that’s why I expect there will be less MAID being liquidated by Maidsafe for some time.

EDIT: ok, now we do know:

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If the last set of financial accounts lodged is correct it was mainly BTC and the amount of Maid to be sold over the next 12 to 18 months is neither here or there

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Were those before or after the purchase of Sigmoid Solutions? I might have got in a muddle, but I think my change of mind was when reading David’s comments about that.

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You are not wrong :wink:

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That’s good news for sure! I assumed it was mostly BTC cause the crowdsale generated BTC, and the bit of left over MAID I thought was small by comparison.

Still I am worried this is a bunch of new MAID we have not priced into the market yet. I haven’t really heard any rebuttal to that despite bringing it up several times. For this reason I think the company will find their runway depends on somehow propping up the MAID market, despite the fact they would prefer to not care about that and just be product focused. Again I say that’s what the marketing team is for! Let the engineers be product focused, but at the same time have some people focused on bringing new buyers to the MAID market.

I think the risk is marketing falsely holding up price, so as long as it is spreading the word etc. then great. However we will have the best marketing team possible, this community! I think the value is vastly underestimated of a committed group of like minded supporters who all have a personal and professional interest. Our team are great and incredibly nice folks to boot, but there is a strength to non employees words that is magnificent. Remember the maidsafe team will still be around, they will still benefit and we owe them heaps, so expect re-enforcements here :wink:

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I was originally going to suggest maybe the new marketing team should just focus on selling the coin and use the tech as support. Then I was like nah that could create a false bubble. I think if we just stuck to getting people onboard with the product the fact they want to buy some MAID would be real and not just the latest coin shilling effort in the crypto-sphere.

I will sure be telling my friends to try out the network when Fleming comes out. I know others in the community do wayyy more then just tell their friends also. I don’t mean to say that is not valuable. Huge thanks to those that are finding buyers for my coins for no direct benefit to themselves!

I still think an official team is valuable in other ways though. Of course they need to be at least as valuable as the cost. Maybe that was not the case in the past. In the past they didn’t have a working product in hand like they will at Fleming. I think a common path might be: Heard from a friend this is cool -> checked out the official customer facing info from the company -> feel confident to try Fleming -> say damn this is the future and buy some MAID.

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@mav did some math there(was in some thread earlier) and I believe the end results from that showed if spread over time the coins should not impact market in a negative way relative to daily volumes. I am sure they would not mind selling OTC to some folks w deep pockets off market too but @ market price if possible.

I don’t see how you can do math on this without assumptions. The big unknown is how much volume is just the same coins bouncing around. If its mostly that, then small additions to supply could have a noticeable impact. If it is actually new buying power coming to take some off the market then it could balance out fine.

At least the sum of our assumptions (the current market price) had not included this additional MAID that is being unfrozen from long term HODLs by this loan. I think that big whale at 1300 backed off for this reason. That was where he thought he could buy all the loose MAID before, but now with a bunch more MAID hitting the market he can’t afford to buy it all at that price.