MaidSafeCoin (MAID) - Price & Trading topic


#2397

Oo, where did you read about that? I can’t find any reference with a search. I store most of my stuff on Trezor, it would be great to add my omni assets to that too.


#2398

If you buy small amounts then wait till you have more than 50$ before moving. There is a trade off between safety and fees. Its not like localbitcoins wallet or an exchange like bittrex is going to disappear often. localbitcoins, poloniex, bittrex are still there after years, so for less than 1000$ they can be considered reasonable safe for the short periods the BTC or MAID is there.

Also if you buy your MAID on bittrex they only charge 2 MAID to send your MAID to a BTC address. (eg paper wallet)

EDIT: Bittrex changed the withdrawal fees from one MAID to 2 MAID


#2399

The Omni blog does a weekly ‘state of the layer’ update, which states they’re working on TREZOR support.

See my post in the ‘Cold storage options for Maid’ thread:


#2400

And that makes it sound like the TREZOR wallet will use omniwallet to do the work. Auto login to omniwallet


#2401

Thank you. I’ll take a look at bitrex. Imagine MAID at $10, buying 10 coins for $100, then being unable to move them. Crazy.


#2402

There seems to be a steady accumulation going on. Volumes staying relatively modest, other than the odd spike.


#2403

A bit of green in a sea of red! :slight_smile:


#2404

one day MCAP we too shall see such rises…


#2405

Well 24 hours later, it’s gone in the opposite direction.


#2406

The serious price drop we see now, is because China is banning ICO’s: https://www.cnbc.com/2017/09/04/chinese-icos-china-bans-fundraising-through-initial-coin-offerings-report-says.html


#2407

Is this just for New ICOs?


#2408

I’m not sure what they exactly want to do (and wat they can do), but the following parts of the articles are maybe relevant to MaidSafeCoin:

A list of 60 major ICO platforms were provided for local financial regulatory bodies to inspect and report on, according to Caixin

Organizations and individuals that have completed fundraising through ICOs should make relevant arrangement to return funds, in order to protect the interests of investors and properly deal with risks.


#2409

I’m no expert, so don’t rely on any of the following, it is my amateur opinion!

I think BTTF are based in Hong-Kong so they may be affected although perhaps not much, because I think most of what they do is regulated, and actual share offerings not ICOs.

MaidSafe used them to sell shares (ie not for an ICO) so I don’t see how that fund raise will be affected, but obviously accessing / trading shares depends on BTTF.

@dirvine can you clarify once you know the impact on BTTF and how the SPV is administered?

The original MaidSafe ICO seems unlikely to be affected because it was four years ago and AFAIK had no links to China.


#2410

But it could have an indirect effect if Chinese exchanges must stop with trading MaidSafeCoin, right?
EDIT: the Chinese exchanges have, according to coinmarketcap.com a very low/not existing percentage of the MaidSafeCoin market. Is this not accurate, or can the Chinese also directly trade via e.g. Poloniex (I don’t think so)?


#2411

Why would they have to stop trading. If they did have to stop then virtually all alt-coin trading would have to cease since most if not all had a ICO or similar.

But I also think there would have to be a sunset clause on how far back the Chinese Authorities can expect Chinese ICO’s to refund. After all once trading of the coin occurs it gets very messy, if not impossible to do “refunds”

And remember that the Chinese Government can only force Chinese people to do any (if any) refunding of previous ICOs. Thus SAFE, ETH etc are pretty safe from being affected since their ICOs where outside of Chinese control and as I said if the Chinese government stopped one coin trading in China then they would have to pretty much stop all. The only ICOs affected will be ones held from within China or run by Chinese Nationals in China.

Wasn’t it a SPV setup offshore to USA and China, so the SPV will be safe, maybe not BTTF itself though.


#2412

I am sure people could be given their original investment back in exchange for their maidsafecoin, should it come to that; they are worth far more than the ICO price now.

I suspect many Chinese investors will be rather annoyed that they can’t buy in though. China has strong capital control laws though and likes to strictly control the value of their currency. The whole crypto currency movement weakens their position here.


#2413

I think that’s pulling on the long straw, unless China bans trading in all cryptos. The slack will be picked up by other Asian countries in the meantime. The Chinese government are afraid that their manipulation of their currency will be impacted. Let’s hope it continues. The Chinese people will flock to Safenet when it launches


#2414

Exactly what’s happening here is opportunity.


#2415

I can field this one on behalf of @dirvine as I know he is up to his eyes in design meetings atm @happybeing. As the BnkToTheFuture is related to investment in shares through a regulated trading platform I would not see this being affected in anyway by the Chinese government’s latest stance on ICOs. The SPV is also Cayman Island’s based so I can’t see any administration being impacted, even in the unlikely event that something happened to the HK based BnkToTheFuture. I hope this info helps.


#2416

Today, I was talking to one of the guys who organised the Monetha ICO , and he said they raised 36m in like 18minutes.
Because many investors of this ICO were Chinese, and despite the fact the crowdsale is over, they should supposedly return the money. Not sure they will do it. It’s a nightmare.

When it comes to regulation, nothing is simple, especially when you think of the impact it could have on the project in the future if they don’t comply-