MaidSafeCoin (MAID & eMAID) - Price & Trading topic (Part 2)

If you want to comment on what specificly is wrong with the article I posted above about Hex, “Richard Heart”, then do so.

It makes me curious why you are so invested on a personal level in Richard Heart, how do you know him on a deeper personal level. There are many people that have various opinion about that man and they have good reason for their concerns.

It is his opinions, it can be biased or not, I don’t know if he has relation to defi pools.

I have read his two books - how to improve yourself and how to improve the world. There are 20k people in his chat and no one complains that he was deceived someone, so all you say is speculation and unproven gossip… By the way, I sold most of my Hex for Maid. I have a few 15 years bets.

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@happybeing

Safe hosting an instance of the blockchain would be a good challenge for Safe of the ‘eating the world’ and oracle and consensus problems sort.

Even before that capability, could Safe operate its own autonomous SNT exchange?

If Safe generated a BTC address in response to a user’s SNT purchase, could it then validate when the agreed funds have arrived to the BTC address causing the release of the purchased SNT directly into the user’s Safe account? Safe could possibly then use its BTC balance to make SNT buy offers based on its needs in servicing the rewards algo and completing the autonomous market loop.

It would probably make more sense to make the leap to shifting the oracle problem to using vaults for data collection rather than validation, and storing the blockchain on Safe, so there could be API integrated for validating transactions and releasing purchased SNT, yet that moves it from app layer to network layer which may or may not be preferable.

Regardless of details, I think it’s important that Safe has a BTC:SNT virtual vending machine. I think there’s potential to eliminate the entire exchange bottleneck by bringing that functionality into Safe, and laying the groundwork for Safe to offer that same infrastructure for all other traded assets.

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He owns alot of Ethereum. You mentioned awhile back that he is a good/serious person because he had his Hex locked. But Hex is not what he wants, it is unlocked Ethereum that has large value.

When projects promises large gains then the alarm goes of in my head, and then interest on some token created out of nothing, second alarm.

“While it’s creator, Richard Heart, promotes the token as being “designed to increase in value faster than anything else in history”, and “do over 10,000x returns in under 2.5 years”,”

“Not only will Richard control close to half of all HEX after the first year, but it is the first token I have seen to have its founder’s perpetual self-enrichment baked into the protocol.”

“HEX is currently at the beginning of its year-long initial launch phase, after which virtually all of the HEX that will ever exist will have been distributed. During this period participants can obtain HEX in two ways: they can purchase HEX by sending their Ethereum to something called the “Adoption Amplifier”, which functions as a recurring daily auction, or they can claim HEX for free by holding Bitcoin at a rate of 10,000 HEX per BTC.”

“When it comes to the Adoption Amplifier, Richard is careful to avoid saying that you are purchasing HEX for Ethereum. As he terms it, you are “donating” your Ethereum which is then being “transformed” into HEX. To cut through the confusion this language might cause, what is actually happening is that the ETH is not really being “transformed” in any meaningful sense. It still exists, it just doesn’t belong to you anymore, it belongs to Richard. What you have instead is some token that Richard created, and his promise that it will make you massively wealthy. Within the first 24 hours of launch over $3 million in Ethereum has already been sent to the Adoption Amplifier. And given that this auction resets everyday for the first 352 days, it seems likely that Richard will make well in excess of $100 million in Ethereum alone.”

"In addition to the Ethereum he receives through the Adoption Amplifier, Richard designed HEX to give himself ownership of almost half of the coins through something called “The Origin Address”. If you go to Hex’s website, however, you will not find any mention of this. Not on the home page or in the FAQ section. I encourage you to do a keyword search to test this for yourself. What you will see are a dizzying list of bonuses you can earn as an early staker of HEX, and promises of massive future returns, but no mention of the Origin Address, its implications, or the fact that Richard owns it.

To even discover it exists you would need to go to hex.win (Richard’s official Hex Website), click on the tab labelled “Tech Specs”"

Hex.win have since then been removed and is now redirected to Hex.com

I hope they are doing well, sometimes shitcoins perform better than serious projects on a short term basis.

Sometimes I wish I invested early in Bitconnect coins or similar, just because of the success they have in the short term, but I’am a poor fool that believes in real value and lacks “throw away” money. :slight_smile:

Why don’t I just accept that nothing is real in this world, it might only be an illusion, I don’t know.

You seem to have good investment strategies, play them close to heart, if to many knows about good strategies then they seem to become cannibalistic and self-destructing. Wish I can surf the alt coin wave with you in the future, riding it to the sunset. In my apartment heat is “included” in the rent, so it is cold as f**k , might fire up the gpu radiator and give mining a shot. :slight_smile:

If you have not tried it yet then you can watch your BTC or MAID gains with PoloMAID, still works good. :slight_smile:

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I don’t want to be that person, but can the posts specific to ERC20 MAID, DEX, HEX, etc. get forked to their own thread? :no_mouth:

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@dirvine What needs to happen to get the Exchange apps we have filled out submitted? Do we need to hire someone to work on these aspects of the business?

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Quite a lot of work/legals and agreements actually. We are going through some, well @sharontannahill and and she is flooded with work and these are far from simple after the application is filled in. There is an awful lot more, getting the apps though is a huge help, so kudos @Sotros25 but it’s an awful lot of additional work afterwards.

Yes, possibly, a lot of these guys need Directors input and expect directors to be crypto savvy and know trading etc. well. MaidSafe is not that kind of group at all, we never mined coins for ourselves and we are just not that kind of people.

It feels geared towards projects the pre-mined and have leaders who are heavily invested personally in the crypto.

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Enjoying all the fire and excitement recently from everyone. There’s a smell of test-nets in the air.

On-topic slightly-related question - how easy/hard will it be to set up a fiat to safecoin exchange on an early Safe Network? Is that going to be harder than I’d imagined? Is there some technical challenge here I was not aware of?

I get that some people think we’ll only have developers or crypto-heads involved in the early days and we need to bend over backwards to make their life very smooth, but I’m not convinced it’s true… and in general I feel I may be confused here. Post-launch, someone who is going to use their favourite wrappers and hexes and cexes and all to purchase SN tokens, could also just log onto Safe and visit a friendly fiat to SN exchange no? If it’s not really hard to make fiat/safecoin exchanges, I don’t get the fuss

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Current exchanges get’s a SNT wallet, some API and hock it up to some code, similar to what they do with other protocols today, from what I understand.

Or someone sets up a backend exchange on their hardware and connects frontend to the Safe-network, from what I undestand.

Could this be broken down into actionable steps of what has been done and what needs to be done? Maybe post them in a place where the community can view progress?

Which apps are you going through which are not being gone through? Given Sharon is flooded with work it seems unlikely she could get this done rapidly. It would be unfair to expect her portion of the work to done on a reasonable timeline if she already flooded with work. I don’t think anyone is assuming these apps are simple after the apps are filled in.

Agreed, I’m grateful for @Sotros25’s work. Where would we be if terms of these applications if we did have her working toward the goal? :pray:
Being that in is a lot of additional work afterwards how do we get his work done in a timely manner?

Who are the current Directors? What knowledge deficits do they have and how can we quickly resolve these or provide expertise to support them? It sounds like we need to add a Director that can focus fully on these aspects of the business.

Correct there was no mining of coins for yourselves but there have been coins issued to the community. In our case it is the community that represents the coins instead of a small group doing for themselves. This does not change the fact we need to be represented. We are listed on one exchange that excludes the US. I know it is not Maidsafe’s fault the US is excluded but it is however their responsibly to get listed on top exchanges. All successful crypto projects do this. It is not abnormal to want to be on reputable high volume exchanges for the many benefits it provides both the project and the community.
If we are delisted it would spell disaster for those holding MAID. Especially since we don’t know when we will have live network. What is the current plan B, C if MAID is delisted? How quickly can these plans be executed.

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I’m wondering after the update today if we should be so head strong on new exchanges (although I would like them and have advocated for them). It seems like a testnet is close but also undefined timeline which may be further out then expected. In addition to that, as the team packs in what appears to be a near full network into the testnet, David said today that the debugging to get to beta will likely be at least 6 weeks (perhaps 6 months or more) depending on what they come across. With that loose timeline in mind, it seems reasonable to think that the price will likely not see much higher then last bullruns prices and also likely that we will miss an opportunity to participate in this current bull market. If that is all true, having more exchanges isn’t going to help anything and we have to accept that price will only come with a live network. Just my own feelings as we are now about to approach the beginning of March.

Just answering all this takes time and focus from development, so we can see why MaidSafe have decided to get the development done and spend as little time as possible on other areas.

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Each of these has a bunch of questions they need to be answered, some need a legal opinion, some info from directors, corporate account set up, then talk of the listing is subtle, some use NDA to progress the application. I would consider each one a mini project and the exchange sets the rules of engagement. It’s not likely that can be broken down easily into pieces.

@Sotros25 has started with bitfinex and kraken applications at least. which we progress is absolutely down to resources. We just don’t have enough in this area.

That’s on our site and companies house etc.

One is a senior corporate lawyer, one is a CFO level exec and another is a successful businessman. It’s not a typical group of “crypto pals”, they don’t have knowledge deficits :wink:

I don’t agree with that at all. We have a responsibility to investors and supporters and we have a responsibility to do that responsibly.

Current plan a-z is launch the network I really cannot emphasise this enough, no distractions, zero, I am very strict on this. We distract we fail to launch and that is not happening.

So we will do what we can with what we have, the community will help where they can and they do that. I really cannot be any more direct, the chase the dragon crypto stuff needs to stop. MaidSafe will not drop launch to do anything.

So we will help, it’s all part of the business, but it’s not the only part and right now it’s not the top priority. Launch is and singularly launch.

In terms of coin-related work, we may need to hire folk for that, but as I have been saying recently, we as an R&D related company cannot get involved in investment activities as that is a danger zone (tax-wise it’s very dangerous). As a UK Ltd company, we have fiduciary responsibilities and those are to investors, then we have moral obligations to coin holders and the latter falls into the area of doing good business, i.e. don’t annoy your customers.

We walk that line!

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This is all we can ask or expect.

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Well said I thought the same. Those who bought into the ICO deserve to be able to trade those tokens as they see fit and unfortunately the exchanges wont deal with the community to get this done.

I personally bought after the ICO so said nothing as nobody owes me squat.

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This is where there is a big disconnect and I think it’s wrong. To me projects and companies need to get products and services out. Coins owned by teh community should be listed, but the fact exchanges want a legal entity to list and in many cases (if not most) pay either directly or via some “well this will help if you spend XXX coins for YYY”.

DEX helps a lot if we can get on them, but the exchanges seem to think every company has a ton of tokens and a ton of cash. I really wish they would just list every coin and let the market do what it does.

However many exchanges have seen a cash cow and they need to milk it for all it’s worth and that means find somebody to pay. I feel it defeats the whole IPO/ICO as it was envisaged. However it is what it is and now we all get to suffer a bit and companies like MaidSafe end up drawn into investment activities. A real mess.

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Lucky Satoshi got ahead of this requirement!

So true.

It’s crazy that cryptocurrency started as a permissionless concept, and now we have been normalized into expectations that centralized exchanges must only list coins that have a centralized set of directors.

I’m idealistic, but I’d prefer to see us build something they literally cannot ignore, and then we won’t have to apply anywhere.

Does anyone know if Vitalik et al applied to exchanges for listing, or did ethereum get listed without intervention or application?

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I feel the Zen! Watching the ups and downs of this project since 2015. There is a new calm Zen-like feel now. :innocent:

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