Some good advice on different sides here. Another thought is to ask your dad for this same advice. Explain your dilemma, your reservations about taking a loan and any other options you’ve been thinking about etc. If you haven’t yet, speak to your wife and listen to her. She knows you best and you are most likely to be honest with yourself in that conversation. You’re with her for a reason and you’ll be going through the consequences of the decision together. I’d also recommend talking to a good male friend and/or in a trusted men’s group.
Personally I would find this a very difficult decision. You’re faced with something you clearly want to do - perhaps because it is your idea, dream, and you want it to succeed. That would be very tempting for me, but I’m also risk averse! So I’d look for ways do it without the risk if at all possible - investing time rather than anything I don’t have or don’t want to lose. But then the risk is that you never get to try, and even trying and failing is valuable. But make sure that you and those who rely on you can bear any consequences.
What I or any of us would do should not influence you, except in helping you think the thing through. Only you can know what’s right here, you must feel it is your decision because it’s you who will have to see it through and live with the outcome. Whatever you choose, good luck!
I don’t like the idea of selling MAID this cheap. How about selling a bit of MAID and borrowing some from your pop?
That way, you can pay back your dad even if your project does not take off – through selling the rest of MAID. And your shoe remains in, so you won’t pull your hair out if, somehow, MAID takes off in the meantime.
Plus: If your project skyrockets, you may use the other half of MAID to buy your dad out, have all the profit to yourself and parlay more into MAID before it takes off. Middle of the road seems ideal if one is really keen on doing it.
Wait 10 years… Nothing equals the value of MAID… On alpha2 alone you can create 500 domain names with it (sure this might change in the future). On the current internet that alone cost $500 minimum, don’t be fooled by this 20c price mark.
Once negative interest rates has eaten enough into people their bank accounts/pensions they’ll look for a SAFE haven and it couldn’t be more obvious.
Whatever it is that your doing, if you can’t convince other people, to do it with their money (it’s not worth pursuing).
A few thoughts that came to mind when reading your post. I am not a business or financial advisor. This is just my opinion after scanning the thread for less 30 seconds.
Timing and location are important factors in how best to proceed. What continent are you on, how old you are, etc…
If the chances are that a competitor will come up with the same project/idea in the next 3 months, then it is not a novel or good enough idea that is worth taking a big risk on. Keep thinking, you’ll come with something better.
Borrowing money from family for business is rarely a winning plan. With interest rates at record lows Banks are more than happy to throw fresh money at you if you have a business plan.
Better to sell OPM, (other people’s MAID). You need a team that also thinks your idea is worth an investment so much that they want to partner with you. Selling all your MAID now means the probability that you will always be poor will go up 7 orders of magnitude. You need an experienced mentor on your team to advise you not to get business advice from random people in online forums.
Its only modern communication that’s enabled many of us to stumble upon the MAID project, never before where humans able to discover such opertunities at such an early phase - this is one item of luck we all have benefited from.
The second bit of luck we all have is that this is one of those projects that will change the world, and we are all here with our stacks.
The third bit of luck is the MAID team have shown their skill, commitment and integrity.
How many other projects have this blend of luck?
considering the above… I am fully of the mind we either get there or bust. I’m ready to lose my investment in MAID.
We have better odds than the lottery and the money you put in to the lottery is lost as soon as you buy a ticket.
Funding a business venture, that’s tricky… Not just financially, you are battling between 2 great projects… this one, and your project. Very very tough choice.
I sold bitcoin at quite a cheap price to buy a macbook back in the day, I do regret it only a little bit.
There is no bust option IMO. The code is open source on github. It’s a big idea. If something happens to MaidSafe then we all pull together and finish it old school FOSS with every forum member or githubber that can code.
It is amazing to read the enthusiasm and support for this project. I suspect there are very few places that there is such unwavering belief in a team and it’s technology. Whether or not the team care about the price of MAID or not, I hope they take strength from this!
I’m pretty new to TA but there’s a giant symmetrical triangle on the higher time frames that looks like will come to conclusion in possibly November or December. I have no idea if it would break up or down but I’m guessing it depends on BTC and hopefully a Fleming release to spur more interest. Not sure how big of a break up or down it would be but as long as the network is delivered and we can start creating our own value through apps and providing storage we will get there regardless.
I’m going to take a different angle (I think) then everyone else. My feeling is you didn’t write this post for advice of choosing between selling MAID or borrowing from you dad, you wrote it to see if there is a third option, borrow money for an equity stake from people who have a high tolerance to risk. I am all ears. If you have a business plan and are looking essentially for PE or an angel maybe I could help. If you’re concerned about your idea being stolen I can assure you that I have no technical ability beyond 15+ years of investing in everything from $50 savings bonds to massive PE deals. Just an option to consider. Whatever you end up doing I wish you luck because believing in your own ability and/or decision making is the best thing in the world.
ya you can always crowdfund it. If you want to be fancy go create a token or if not just do it the old fashion way on GoFundMe or one of those.
Thing to keep in mind when investing in crypto is that it’s not a bank account. If you are draining it when spending needs come up you are never going to make money. Only invest what you don’t mind HODLing until the time is right to sell.
If and when Maid launches and the product is usable by non techos and is backed up by savvy marketing, $1 will be a memory. Like looking in the rear vision mirror. The reason why - privacy, security, and a decentralised autonomous network. What the world has been crying out for. And you get paid for sharing your computer storage. How good is that
That’s what i’m asking myself… just because of bitcon we have a coinmarket cap of ~60m. Imagine blockchain didn’t exist and we were alone in this space. The price would maybe sit at 0.001$ right now and claims of >1$ for the working network would be considered delusionary.
edit: but, I think, I’m at a point where i can almost honestly say, that I don’t care about the price anymore. this project is too amazing to let the price to be in the foreground.
