And I enjoy the low prices, too. For many of us who work for 500 euros a month (or less) this is an incredible opportunity … From time to time I think how I would have acted 4 years ago when I first learned about the SAFE network if I knew what I know today… Now it seems that I will have the opportunity for the second time it’s time to save from breakfast
scary drop, are we going to run out of funding yet again?
This is very good question. How is BTC drop affecting funding of this project.
A lot of our reserves are held in crypto currency. So it is something to be aware of of, as you would expect. We also hold reserves in several fiat currencies to hedge against any brexit issues with sterling. If the price continued to drop significantly AND we never had anything to push our own coin price up, such as releases or other good stuff, then we would be in a less comfortable position than we would otherwise.
We tend to maintain 6-9months fiat in the bank, but not always, right now we have less than that and would have to liquidate some crypto. It’s not always simple, but something we do keep a tight watch on.
We do not publish every single step though of how we operate and what exact amounts we have in what currency continually as we would only be swamped with well meaning “advice” and there is much more than a simple algebraic equation involved, due to the other aspects of the company/project we do have to consider, some of which would not be beneficial to anyone to make public. Traders will push for headline numbers, but in my opinion it just means we have to spend time stating the obvious.
tl;dr, prices on crypto do affect us as we hold crypto, but we mitigate by keeping various fiat currencies in reserve for periods of instability. This price crash is concerning, but not world ending for us either When we liquidate crypto, it is generally BTC as we wish to hold maidsafecoins longer due to the fact we obviously have faith that maidsafecoin can benefit from our work and there is so much more for it to achieve beyond speculative investments.
Other Coins - Price & Trading topic
I am hanging on to my MScoins too. About slightly in the negative but i believe it will turn as the project gets closer to Beta. (I hope:pray:).
I will never sell Maidsafe before launch.
Maybe Maidsafe should consider the elaboration of business plan in a context of a bitcoin multi-year bear market, just in case.
Expect the best, be ready for the worst plan-style.
Just my 2 cents
We do that and much more We have various advisors and board members who look at this all the time. We have plans for ±50% values on all assets and how that affects runway, funding needs and more. These always of part of the board meetings and debate. Andy for instance was SUN microsystems CFO advisor and more. Apart from that legal advice from a Hansard level lawyer and they are all investors as well. So huge amounts of time and effort go into very deep thinking about this with charts to allow accurate reporting.
However, then life happens Who would have thought The point is there are probably more lottery winners that individuals who win from markets, crypto has allowed many “winners” which is unusual (although you rarely hear of the losers though that funded the winners), but we should not confuse luck with smarts though. All we can do is plan effectively and hope that virtual sky does not fall.
I believe Maidsafe is capable of managing their finances without help from this forum, but I do find that chart interesting. Could you please post a link to it? Or are only screenshots possible?
I have decided to leave Poloniex completely and I started buying MAID on non-KYC exchange cryptopia. Please provide me some more MAID, I will pay you some 2-3% premium there. Is 4300 sat OK now?
Cryptopia is the best exchange right now for many of us. The problem is there is nobody willing to sell their Maid here. We need someone who can buy on polo and sell to us on cryptopia with some % profit for him.
Exactly! I think we need to create a premium of 2-3% there, which could be enough incentive for somebody to do an arbitrage. Let support non-KYC exchanges.
There were premium prices up to 20% month ago and nobody was selling there for many hours.
Very nice chart. If I understand it correctly bitcoin price will bottom end of 2019 (at $3000) and will top mid 2023 (at $160,000). The way data is presented is very convincing but is human behavior so predictable?
I second that. Is it possible to have a link to source analysis?
Sorry, just a screenshot from twitter for what it looks like a chart from tradingview ( BraveNewCoin Liquid Index for Bitcoin) that it’s not available anymore or I am not able to spot it (I tried several times without success).
Edit: thanks @anon63178599
I would say yes (roundly).
About bitcoin price I think it’s just one scenario more that we should take into consideration. Just that.
About the accuracy of the graphic, impossible to say nothing.
No one or no chart can predict where btc will go. Its fun nonetheless reading the speculation. But for all you know it might just swing upwards in dec or tomorrow or tonight or in 2030
“Ralph breaks the internet” A Pixar movie includes the SAFENet logo unprompted by the team.
De-risking of project continues. Confidence increasing. Wider public awareness incoming.
A massive buy signal for maidsafe token as the general crypto market plummets.