MaidSafeCoin (MAID) - Price & Trading topic (Part 1)

$20,000 will be just a brief stop on the way up

$20000 per coin = $85.9 trillion market cap. In comparison; the total value of all gold ever mined is about $7.8 trillion. The market capitalization of all of the world’s stock markets is $73 trillion. [source]

Bitcoin hit $420 billion at the very peak of $20000. In comparison; maid hitting $100 would mean a market cap of $429 billion. Truth is maid is unlikely to ever hit $100 and if, beyond all odds, it manages to do so it will be considered a massive success story and it will be a global phenomenon. Talking about $20k as a “brief stop” on the way up is so delusional I almost lack words.

You do realize that only 10% of the maid is minted right? We’re going to see massive inflation after launch as 90% of the remaining supply enters the markets. If anything we’re likely to stagnate or slowly bleed down price-wise from the initial launch hype. I’d be pretty happy if we hit $10 in the next 5 years, but even that would be hard.

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You realise this is going take probably longer than you’ll actually live :upside_down_face:

Ps I’ll also wager we’ll see less than the 450 odd million on the network intitially :wink:

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Do you have a source?

Which part do you mean?

The 90% bit? The 90% doesn’t go on once the networks live that’s designed to take a very very long time (probably decades to get close to 4 odd billion).

The 452 million bit? Early investors and exchanges will transition their coin, a safe bet is the majority of hodlers won’t transition until security in the wild is demonstrated to their own personal level of satisfaction.

@Zoki may sound nuts or over exuberant but is probably using a thought process that extends beyond any contemporary markets where we could currently make any useful comparison.

Pie in the sky stuff yeah but I genuinely thought that about Bitcoin reaching what it did when I first saw it in the single digits.

As good or as bad a guess as any when it comes down to it. No metric can be really applied here but it’s fun to spitball sometimes :slight_smile:

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Do you have a source for the 90% bit, right now you’re just making guesses. I know it’s not all coming live at once, but even if it takes 20 years that’s still more than 200 million coins per year on avg. In comparison we have 450 million supply right now, which means inflation would be almost 50% the first year alone.

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maid has way more use cases than bitcoin … comparing the 2 doesn’t make too much sense - and thinking safe is inferior doesn’t make any sense at all :roll_eyes:

well - it has been discussed many many times in the past - e.g. here or here or here or here or here … just search for ‘inflation launch’ in the forum and do your pick - and in every topic you’ll find the same answer … the inflation is planned to take place slowly and when it happens it does mean that safecoin are being minted => the safe network is being used on a large scale => there is value being generated by the network

… you as well completely ignored the fact that coin are being burned when storing stuff on safe => there is not only a mining but as well a burning process and the supply doesn’t just increase :wink:

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That’s not how pricing works. Use cases != market cap. Water is more useful than gold, but gold is worth far more. Price is dictated by supply and demand and is also speculative in nature. Maid has a much higher supply than bitcoin: with equal demand you can expect prices per maid to be 204 times less than bitcoin, e.g bitcoin at $20k equals maid at $98.

A big misconception in crypto is that technology = value. This is completely false and goes back to what I just said about supply/demand. You can have the best technology the world has ever seen, but with no demand it remains worthless (from a financial perspective). A large market cap in and of itself is a value property of bitcoin which is hard to compete with. High market cap is what allows larger investors to place and move funds through the system. That in and of itself creates value.

The network effect is to a large extend what creates demand, but there can be speculative demand as well. Maid has been benefiting from speculative demand, we speculate that maid will release a product in the future. Maid at this point is simply a token on the omni network and far inferior to bitcoin in every aspect.

All previous attempts at creating decentralized networks, such as freenet has more or less failed in their attempt to attract mainstream usage and maid is at very high risk of ending up with similar lack of usage. I believe maid will be far more successful than freenet to gain traction, but the reality is that decentralized solutions comes with certain disadvantages that centralized solutions avoid. Those problems could make it hard to attract the mainstream type of users who don’t give a rats ass about privacy or owning their own data. Point is: It won’t help with a ton of use cases if nobody is using them.

Yes, and it’s all more or less guesses. No conrete info has been presented yet as to the emission schedule we can expect. Needless to say, 10% is a very small amount of total supply, will more usage make up for the new coins? Maybe, that’s pure speculation at this point.

Regarding “burning of coins”, isn’t that actually just a transfer of wealth from the person who does the PUT, to the host ?

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No…

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@riddim: do you have a source?

Sorry a bit in a hurry right now - if you look in the safecoin RFC or the whitepaper you’ll see that put price is paid to the network (and the coin is then burned and free to be farmed again) - not to the farmer

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Right, but it has the same economic effect since the coin will be farmed later. There’s no long-term deflationary burning going on, correct? I’m going to re-read the whitepaper again shortly.

And farmed coin will be spent for storage later on

With the same argument you could say there will be 0 deflation :thinking:

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Isn’t that what the past week has been? Essentially no volume, except for right after three large 1 minute pumps causing all the rise?

Weren’t you just saying a few days ago that $0.02 is on the horizon?

There’s inflation, we’re not going to stop at 450 million, but eventually reach 4.3 billion. My point is that inflation will put downward pressure on the price. If you are going to argue that coins are burned and it does not result in less coins, it makes no economic difference to my point.

Do you have a resource for that?

If people just store data on safe and use it it for backups there won’t be inflation but there will be less and less coin :zipper_mouth_face:

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Yes:
The total number of whole safecoins which can exist on the SAFE Network is 2^32, or just under 4.3 billion. [source]

Current coins in circulation: 452,552,412 MAID [source]

If people only use safe for backups and no coins are farmed who gets paid to host the data?

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Part of me still does. It’s an option that would not surprise me before launch, it
would not upset me to see $0.02.

If we continue to get more and more test releases, SAFE-Fleming, then some more publicity - when light bulbs start switching on across the crypto community - FOMO for $1.00 will soon kick in.

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Sorry you are the one making wild guesses and just a little searching on the forum will turn up 100s of posts about the fact the coin supply @90% is to be after 2 decades. Just read the white paper for one.

Do you know that the coin is also recycled (ie destroyed) when people purchase resources. So its even possible for the existing coin to go down at times. For example it is reasonable to see the existing coin to drop early on since little data means little creation and people have to store lots of data resulting in a initial negative growth of the existing coin.

Far less guess than your silly thought that there will be 100% existing coin so quickly. Do the reading and you might learn.

No and your lack of basic education on the workings of SAFE is the reason for your wild guess.

Did you notice that it says “can exist” which does not mean WILL exist.

But yes it is expected the existing coin will increase eventually but never reach the 4.3 billion coins.

And just like bitcoin, the number of bitcoin is increasing but the price is ever so much more then the initial stages of bitcoin.

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Far less guess than your silly thought that there will be 100% existing coin so quickly. Do the reading and you might learn.

Don’t assign me opinions I never had.

No and your lack of basic education on the workings of SAFE is the reason for your wild guess.

How about answering the question for once? I’ve been reading this forum for months and it’s very wishy-washy. Personal attacks is just not a good sign for a project, why do you keep using personal attacks instead of addressing peoples concerns?

Did you notice that it says “can exist” which does not mean WILL exist.

But yes it is expected the existing coin will increase eventually but never reach the 4.3 billion coins.

Then my point still stands.

Hey did you recognize the price did rise today? :thinking:

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