For some traders the $$$ of bitcoin is not necessarily of primary concern. Because they only “cash out” much later on and are using maybe bitcoin they originally bought at 300 or 400 dollars.
So for them they back the ALT/Bit coins to rise in value by the time they want to do some cashing out. This might be in a year or two while they build up quantity. So its quantity of the coin they are looking at not $$$ value. They are trading against bitcoin as the base not USD$$$
Its when they want to “cash out” that the price of bitcoin will matter
EDIT: another situation is that traders are now wanting BTC to catch the wave as it rises due to the speculation that the halving a few months ago is going to cause bitcoin to break $1000 about 4-5 months after halving
I hear what you are saying but something tells me if btc was going down and maid was holding it’s $ value the resulting increase in sats and the trend superficially looking up on polo would result in praises of “maid doing great” yet it would still be 8.5c
So to me if 1 maid was equal to 1 btc but 1 btc is 8.5c who the heck cares.
And it got broken, most boring update ever we gonna do this and that, great wasn’t that already planned and said many times. (Just my opinion)
About alpha2 I think they should not give names like alpha if it’s not connected and running on vaults, that’s the main reason why it go up and then tanking like a stone cause they say we’re in alpha people expect a launch and starting to buy. Then it turn out to be more like a testnet 9. They get disappointed and eventually dump their coins and let people who bought 17k plus in a huge loss.
Price is just a short term distraction. People traded some of their msc to fund their equity investment. Money’s in Maidsafe’s hands which should have a positive effect on the price mid and long term as they can ramp up development. Surely there’s some pump and dumps out there that’ll make you some quick cash (if you’re lucky), this is something to hold to at least release safecoin and thus is price irrelevant at the moment imo.
Actually price is relevant a steady growth will attract people to read about it instead of hating it after a buy
@rand_om sorry to hear your a bagholder from 17k, but I’m not like that I bought at 7 sold at 21 and bought back 15k(wish was way to early cause I can see it go back sub 10k) depending on what they release.
Damn your name make me remind ltcgear there a person named beekeeper robbed so many people.
No offense ofcourse but that name is a sour taste for many crypto lovers
Yea it’s called trading indeed eventually I bought back more aswell,
I sold cause with this development circle it’s not worth that much, were in a weak word for (alpha) if you ask me. The price atm I’m just discussing cause it’s the price and trading forum.
The hype was their with a launch that wasn’t a launch and the people here could know that.
Also in my opinion they try to attract dev with tutorials but i guess a working network would bring much more hype and attention, now in some articles maidsafe is not even called.
I’m sweet like honey though. Agree that steady growth is desirable, but I think that’s what we’ve seen over the last 9 months. Although the chart might look bloody right now, we’ve gone up from 2c in January to 8c today. Not bad.
I disagree that it was a boring update. Sounds like a lot of work has gone into SAFE Core and enabling users to run vaults from home. The Dev Updates are designed to keep us all informed on the progress being made, not to pump the price of the coin.
What I like so far about the ICO is that Maidsafe will be more independent than if they had to sell more equity to shareholders. Or worse, stock markets. Or maybe theres not much of a difference if people get pissed cause the price goes down or something. Not sure yet.
@Bacobob, how would you have done it? Like, would you have postponed the Alpha 1 release until you had vaults integrated? Do you think it makes an overall difference to the success of Maidsafe or the safenet?
How do you mean? First they had an ICO, after that a equity sale, just like for example factom.
I would not released alpha yet, just testnet 9 that was basicly their alpha and wait till the network got connected and in the wild and call that stage Alpha.
The name alpha was really misleading for many people that arent from this forum, that why the pump happend to 21k, and with that pump many new investors/ potential costumers got hurt. They are now bagholders and that doesnt leave a nice taste to them towards maidsafe if you ask me.
And i dont see the dumping stopping anytime soon, cause i believe their main priority should be finishing the network. The dev tutorials are in my opinion too early first make something work.
Developers wont develop something (also in my opinion) if they dont know
a) if it’s really working.
b) how its working.
c) how they can earn money eventually.
d) That the timeframe is clear cause they cant just wait and wait and hope it will launch soon,
they need to earn money to support the family (didnt safe-fx also had the same? cant remember)
I mean that Maidsafe can do their work as they see fit, without large (or small) shareholders that are concerned about the price, going nuts and telling them what to do. Because they didn’t have to rely on equity only. They stay in control, even if the price goes down.
It’s just a theory.[quote=“Bacobob, post:614, topic:9923”]
many new investors/ potential costumers got hurt.
[/quote]
Well, I’m not sure I agree. Cause those that bought the coins already, are they the real customers? I guess most will use it, but how many bought because they wanted to make a quick buck or got fomo’ed, like me? There’s no product yet, and if you inform yourself, you know that it’s a very limited Alpha. Hmm.
Thats my point why call it alpha then, people caught in the fomo indeed and that leaves a bad taste for many.
i believe the ones bought the coin many are indeed future customers/users cause people in crypto are in my opinion more open for developments like maidsafe, so they are the ones kickstarting when it go live i guess.
.
, yea i think thats mostly done by bitcoin.