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.
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
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
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.
@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.
Maybe, or maybe he backed off because poloniex halted trading for USA. Or maybe because poloniex was sold to Chinese, and he does not want to hold his coins there anymore. The loan counts with working exchange. Where I see a problem is poloniex changing owners. This will change a lot. Who knows what will be their strategy. Without poloniex it will be close to impossible liquidate them.
ya good points. That’s why I am saying there are too many moving parts right now to just look at old averages and infer much. Gonna have to give it some time to draw firm conclusions. Just hope the conclusion is the companies coins are worth the 2 year runway and my coins also retain their value I didn’t dump all mine or anything. Basically just slowed buying until I get a feel what direction this is going.
A comment to hopefully help put the Maidsafe restructure in context …To call the challenge in design, develop, funding & build initially by a single entity of what is essentially a global public utility network which cannot be owned as extraordinary is an understatement to say the least!!
IMHO the difficult (from a human capital perspective) restructure is
i. an inevitable reflection of this challenge and the fundamental need to focus on the product delivery of a working network to protect contributions so far and create true (future) value
ii. the probably inevitable
a. transition of Maidsafe to a member of an (Im)possible network “organisation” with other complimentary partners/services and a common vision as you previously described “to rebuild a new network of interlinked communities of trust” enabled by the safenetwork utility capability. The network organisation objective being to minimise duplication of resources and maximise/optimise effectiveness and efficiency/benefits for all members (care capacity demand management).
b. Safenetwork community evolution as “Community of Practice” (COP) to harness/formalise the collective energy/capability as evidenced by the proposal for the community takeover of Maidsafe social channels
This begs a number questions … Who has a mutual interest to participate in such an (Im)possible network organisation & COP mission? What would Maidsafe Ltd and the Maidsafe Foundations role be in this? Where to from here?..
These questions get to the heart of the underlying dynamic which probably made the recent changes inevitable. Maidsafe has essentially been carrying the associated business burden/costs of an traditional entity which is building and taking a proprietal product to market … which Maidsafe is clearly not doing!!
As an aside I agree with your comment marketing needs to be “product” not crypto focused as (sustainable not speculative/connected to real world serves) “price” naturally will follow a successful product path which improves the human condition and our individual role as planetary stewards not destroyers. This to me reflects hopefully our and other aligned communities real commons/sense vision, objective and shared values, combined with a non extractive exchange capability which reflects this value to support our interaction.
Put frankly Maidsafe has carried burden enough…and the “value is in the Community!”. It’s worth saying that again **…… “the value is in the Community”… what else could it be?: A recent Outlier venture “Communities as moats” piece described it as follows…
“A decentralised protocol’s moat in terms of community is what’s left behind when you take away its founding team and its marketing spend. Bitcoin, for instance, has worked perfectly well long after Satoshi and the number of initial developers stopped proactively contributing to it. The ability of a project to sustain without the kind of hierarchies that sustain corporations are what could make it recession-proof. That can happen only if individuals find their “tribe” in a community. …. Similarly, founders that build a strong community stand to be better than their peers due to the proactive feedback they receive from their community early on in their product iterations.”
With Maidsafe as part of a complimentary project group and community of practice, what would be its best role to support the commons community and reward its initiative/effort? As described in 2017 Maidsafe Business Overview a key Maidsafe objective is to focus on develop of application (and transition away from day to day responsibility of the network) …… a role it is ideally suited for/to. So as Maidsafe delivers the network and progressively hands over network governance and other operational functions to a commons/community of practice project group this will enable Maidsafe Ltd to focus its business model as a highly specialised product development entity with a unique expertise and heritage! That is … working with various groups, entities, individuals to enhance “access” to the network organisation and create interlinked Communities of practices/trust. A Maidsafe Foundation discussion with other network organisation Access Foundations re roles/interrelationship will also become essential. The last “Where to from here?” question… needs many other conversations…
these are thieves. do not invest in such scam. they stole the people’s btc by selling all their coins and now they focus only on worthless 0 value projects.
the 17 year project is closing gates.
I’m happy they closed their utopic controlled project.
Someone that thinks the governments will let them rolleOut such project without been controlled is a cretin(idiot).
don’t buy the scam
happy they close their fraud and no others are getting robbed
to be clear.
the scheme is this:
they will deplete you of your bitcoins. you should be happy to have the same amout of dollars after 2 years but in btc you’ll be ÷10. don’t throw your btc on this scam
As I come here for information and tech support much of the time. I mean yes it says you’ll still be doing the weekly updates but info support is of such importance this is rather vague. I feel this will end up cutting not much or something rather important and I’m not sure which as this is rather non specific.