Maidsafe vs Safecoin

There seems to be quite a bit of FUD being posted around various exchanges and forums in regards to what will happen when MVP is finally released (this week?) and a sudden flood of Safecoins that will gush on to the exchanges making Maidsafecoin a bad investment for people.

Would someone be able to explain exactly what will happen with regards to Maidsafecoin when MVP (Minimum Viable Product) is released, and how Safecoin may/may not affect this. I was under the impression that there would be a 1:1 sway for Safecoin from Maidsafecoin, but I may have gotten that incorrect. If there is a swap, will exchanges like Poloniex, perform this automatically for users who hold Maidsafecoin on the exchange?

These questions would really help if someone could make it clearer for people.

Yes, nothing :slight_smile: the MVP [not this week, but a further test release this week] will not have safecoin and safecoin will not go live till after testing. At that time it will be farmed for resources on a tested mechanism to allow it it seep out onto the network. In early days there may be a glut of farmers (low safecoin) or a glut of uploaders (higher safecoin, but uploaders need to pay in safecoin to upload, so balance).

We will see during test how the algorithm responds then find out in the wild. It will balance resources though and this is the key point. Not to pay safecoin out like a sieve , but to release it as farmers are required.


The 1:1 swap is correct and there will be a time window for that as a lot of folk hold in offsite wallets and cold storage. Not sure if the exchanges will give account holders the option of when to convert, so if a concern maybe switch to offsite once the dates become closer.

The transition is a topic in itself I think, for those considering liquidating coin on either side of the window.

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Sounds like someone who is just trying to lower the price and buy more, because these are all lies, and no part of that paragraph is backed by anything truthful


That is another point, Poloniex and Bittrex (Soon) have limits on the equiv USD amounts that can be withdrawn each day without further ID.

So as the price is rising that small USD wise amount of SAFE coin a person has in Poloniex, might in a month’s time take 5 times the days to get out that it takes today. Some people here have said they hold more than 100K SAFEcoin and today that would take 5 days for 100K, in a month it should be 2x or more, that is 10 days or more.


@dirvine @chrisfostertv Thank you for your replies and they do make sense. The main issue was the market being flooded with Safecoins from the get-go. I also found a great explanation (for anyone else who hasn’t read it) by @Seneca regarding Safecoins with high numbers vs Safecoins with low numbers in regards how Safecoins with be ‘mined’. (not in the sense that other alts are mined though)

Thanks again for the explanations.

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Interesting, we dont want the perception of a stranded asset at this point…so that raises the question of enforced window for a 1:1 …hmmm delicate.

I would think Poloniex will set a specific date for the exchange of their(&customers) holding and freeze withdrawals/deposits of MAID and after exchange is complete they open SAFE deposits/withdrawals

Since the exchange 1:1 Poloniex simply changes the name for the MAID to SAFE. Trading can continue for the time the coin is being exchanged for SAFE. Might need a freeze on trading for a minute or two while they change the name

Not sure how that relates to poloniex.

For those who may want to know more about the various levels of verification that Poloniex has:

Level 1 Verification - Requires First and Last name plus country
Daily withdrawal limit $2,000 USD equivalent

Level 2 Verification - Requires same as Level 1, plus your address, Tel. No and DoB
Daily withdrawal limit $7,000 USD equivalent

Level 3 Verification - Requires same as Level 1 and 2, plus SSN/Passport ID, Scan of Photo ID and picture of yourself holding Photo ID
Daily withdrawal limit $25,000 USD equivalent

Worth knowing as what @neo said is correct and there are limits as to how much standard users can withdraw from Poloniex over a 24hr period. Most exchanges I know of have similar KYC type limits.


To be clear, the MAID that are in existence now, are only around 15% of the total SAFEcoin that will be available over the lifetime of the network (forever) the other 85% will not be easy to come by…they will need to be farmed (mined) or earned by having a successful application running.

What this means is, if you hold SAFEcoin at launch you are in the position of being a market maker in anything you can imagine. SAFEcoin is cash …imagine that, in a world that desperately wants to get rid of cash, so they can steal your wealth via negative interest rates…this is the SAFEharbour for existing capital.

You’ve seen the price action in ETH and that’s a project that is only 2 stages into full realization. This project realizes secure storage and private messaging from day 1. How badly does the world need secure/private messaging and a place to store information that cannot be hacked?

Have no doubt, if only one ‘Fund’ catches wind of these possibilities for their clients capital…current price is history.

My suggestion, accumalate as much MAID as possible and transition it to the SAFEnetwork…it is there where it’s full potential will be realized, not in the world of dollars, negative interest rates and bail-ins…you might think you have money, until you dont.


Maidsafe will set the window for transition which affects all holding areas. Polo might make the decision to do the conversion all at once and early in the window.

Hi Chris,

I work in IT, Backups in Australia and I don’t think most people realise the actual rate of data growth. The damn thing is exploding literally everyday. I believe with rates for between 40% and 80% per year, that is simply exponential and the challenge are immense.

If Maidsafe, helped alleviate the problem of storage reliably enough, that would be massive. Look at this link:

Checkout Table 1. It’s crazy…


I would expect they would do the conversion process for all the coins they hold at the same time.

Totally agree with that and at the premium side of the pricing equation I would think.

I guess Maidsafe have done the maths to prove that the unused space of current client machines, phones etc is enough to absorb the growth rates mentioned below, given their ‘10 years to displace servers’ headline.

I guess you can have pure storage arrays that aren’t in the class of ‘server’, but then again there’s still someone with the keys. ?

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Yes, they make an announcement and holders face the decision to migrate/ move (pending migration) or sell for BTC.

The period between polo announcement and migration could create a lot of confusion, with people waking up to the fact, that MAID is not a straight up trading coin.

The period leading up to the polo announcement could create a lot of confusion, with people waking up to the fact, that MAID is not a straight up trading coin…because there is no dedicated page they can go to, that clearly describes what MAID is and the potential it holds as SAFEcoin

We certainly need MAID in as many hands as possible, but they are preferably hands that know what it is they are holding and why.

Maybe a MAID price explosion, followed by a massive dump is not a great look before launch.

I can see some users in the troll box explaining what MAID is and I guess if we frequent sites that discuss MAID we should educate.

The golden rule for companies in this age of ‘social media’ is to seek out where the conversations are around their brand (good or bad) and engage that space. Maybe Maidsafe need someone to be doing the social media and outreach full time to manage the transition MAID >SAFE

Then again, I tend to think in a ‘what could go wrong’ way, so could be over thinking it.


Cannot take that are representative because a lot of fake talk goes on, most of the bigger fish there know, they fake to drive the price one way or the other.

Yes I can see the potential for confusion, but hopefully most who hold significant amounts of MAID already know its a token. The smaller ones may not and be confused.

I was under the impression that 10% of all coins that can ever exist are now in the form of maidsafecoin, and are owned by participants of the crowd sale, and that a further 5% of coins were owned by the very earliest investors (prior to the crowd sale) and that these coins will be distributed, and ultimately be available for people to trade with once safecoin becomes live.

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I know of no other mechanism for the cold storage of that 5%, than the Master/Omni Protocol and assumed that 5% are held at one address and issued at time of crowd sale.

Apparently there were some surplus coin created out of the crowd sale process also, for which an appropriation has not be decided.

Yes you’re correct, 5% goes to the investors that invested years before the crowdsale :slight_smile:

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Yes definitely, I thought he might have been talking about actual issuance of the 1:1 asset

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