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

Take a look at this post

It’s a bit up in the air at the moment if the network will mint new tokens or not.

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Unless you have a working crystal ball you cannot know…

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Bitcoin is never going to zero.

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It is interesting how a person who understands probabilities does not understand why, although Bitcoin does not have a product, it has value.

Yes the price of Bitcoin only goes up when new people buy. But because nocoiners don’t have Bitcoin and can’t sell it to lower its price, the probability that Bitcoin will go to 0 is close to 0, because the mass of people who hold it will not sell at a loss.

They won’t sell it, not because it’s magical, but because everything else is worse than it. If I keep my money in fiat I know, I know! that their value will decrease. Bitcoin even if it decreases in the short term, at least has a chance to go up in time.

So Bitcoin is here and will most likely stay here as long as we live. And everyone will learn over the years that no matter how smart they’re, they don’t know more than the market and the market must be respected even when you don’t understand it …


Privacy. Security. Freedom

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They will, not because it is magical, but because of one word… fear.

Never is a long time, a lot can happen.

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Agreed, I have sold stuff at a loss, when you see it going down like a sinking ship 100$ is better than 0. Staying on the sinking boat is no fun, did that too, it ended up at the bottom of the ocean…

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Not sure about you, but likely true for me! :older_man:

I agree it is unlikely for a long time but am not sure the possibility of it going to zero is negligible. A way it might happen is if miners abandon it rather than people first lose faith. That could happen - it requires two things:

  • problems, costs etc which make mining significantly unprofitable, dangerous etc
  • better opportunities (e.g. farming SNT, not-going to prison etc)

If there are too few miners then people can lose trust, transaction rates might drop, mining rewards fall and you have a downward spiral. I don’t think it would be rapid because the prices falling can cause more transactions, but if conditions push in this direction for long enough it could crash to zero.

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Bitcoin has already survived so many deep drops and developed enough of a ‘halvening’ cult that even if it has seen it’s price peak (agnostic), there will certainly be more wild pumps. Even if it goes down, there will be wild gyrations and a ton of cheddar to be made.

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It will just go to PoS, nowhere is it said that the consensus mechanism cannot be changed, there is no such cosmic rule…


Privacy. Security. Freedom

It is nothing new, that mining is not profitable. You can not mine on your CPU for a long time. So with very cheap electricity for some miners, it will be worth mining for next 100 years.
Also as people would be scared due to lack of Hashrate, there is many options to solve this trust problem.
It is most secured currency and people were still worried because of China control, Know they will worried about US control…

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But it has a product: its monetary network.

It allows to send millions of dollars from one place in the world to another place, in tens of minutes, with a fee in tens of cents. All this in a trustless way.

And its second layer network (lightning) allows the same for hundreds of dollars, instantaneously, with a fraction of a cent fee.

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Lightning network allows for commercial transactions at a commission of 0.05 percent against legacy networks that VISA provide that have up to 2.5 percent commission.

That’s quite a valuable network.

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As someone in the energy business and doing an energy MSc, the very concept of “cheap” electricity is a thing of the past.

Solar? I’m off grid in UK and for about half the year my electricity is free because the capital costs were paid for in past years.

If you’re talking about conventional housing and conventionally constructed communities, of course it’s hard to have cheap energy. But we can shift to cheaper ways of generating, and use energy more efficiently.

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Yes, solar is cheaper than the rest (96% of the global energy mix). Yet efficiency underlines minimal use of energy per unit of work, at 1.5MWh averaged per mined coin you’ll require one thousand five hundred solar panels to mine a bitcoin everyday. Enough to power some 850 British homes. Take into account capital costs, compensating for energy fluctuations, material costs of the GPUs and their embodied energy, you start seeing how at scale it’s no longer cheap.
Also the current main component in the cost of a solar panel is energy (ironically) so you sort of have a circular problem where you’re already seeing a rise in the sale price due to spiking energy commodity prices.

This guys predictions have been spot on in the past:

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As a fellow EE major, I have a soft spot for Tony Seba but to quote a Chinese proverb he often quotes, “when the wind of change blows, don’t build walls, build windmills”.
Personally, that is why Maid appeals to me. I see an issue in that Bitcoin doesn’t match with climate goals and the need for less energy intensive processes while Maid aims to do exactly that and could actually reduce the footprint of our outdated internet.

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Can you summarise @Michael_Hills ? I scanned through the video and there seems to be a hell of a lot of analyses/predictions packed into an hour.

Just very short: he predicts that by 2030 EV’s will have taken over the streets, no more ICE cars, solar and wind will be so cheap that we will produce an abundance of energy that he calls super power, and will be likely inexpensive.

He has looked at similar disruptions throughout history, and whenever these disruptions take place it’s always because of a convergence of technology that comes together at the right time, and for the first time in history, and then everything changes very quickly; usually within a decade, but likely shorter than what he predicts as his predictions have been spot on, only they have come true at least a couple of years before he said they would.

In a way the Safe Network is part of this technological convergence in my opinion…

And this disruption is unavoidable, because of the economics, it just makes more sense to power the grid with cheaper alternatives then lets say a coal plant, etc.

If you build a coal plant, for example, right now, you will be building a stranded asset, which makes no economic sense, as even now solar and LFP battery storage is way cheaper.

Also EV‘s will likely be used as power storage as well, as even the Ford lightning EV truck could power your home for three days.

Major major disruption is coming that most people do not see right now, and will make their heads spin when it hits them, especially with the automobile industry. So much is happening right now. I think he’s on to something, but watch the video when you have time. Cheers

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5 posts were split to a new topic: Why won’t hydrogen vehicles overtake EVs?