MaidSafeCoin (MAID) - Price & Trading topic


#5655

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 ?


#5656

No…


#5657

@riddim: do you have a source?


#5658

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


#5659

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.


#5660

And farmed coin will be spent for storage later on

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


#5661

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?


#5662

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.


#5663

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:


#5664

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?


#5665

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.


#5666

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.


#5667

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.


#5668

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


#5669

(was just an observation - not wanting to imply a connection to any of the last posts)


#5670

Yes I think this is key here - nobody knows in advance how many coin will exist at which point in time… It’s just part of the autonomous nature of the network


#5671

Yeah, there is a whale pumping things up.


#5672

Another shot :wink:


#5673

Amara’s law

We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.


#5674

There is more variables than just number of coins in supply. There is also number of users causing demand. Also every time a coin is burned it could be farmed, but the farming rate will go up and down based on demand. Bottom line the more demand the higher the vaule and vice versa.

Sorry this was meant as a reply to @warz