MaidSafeCoin (MAID) - Price & Trading topic


#860

Why should a rising bitcoin affect safecoin? Maybe it is just the whole pie growing, rather than the bitcoin slice getting larger.

In other words, why should the rising bitcoin price change the value proposition of maidsafecoin for anyone, other than short term speculators?


#861

Its not manipulation…
Some people trade MAID to gain more BTC.
Some people trade MAID to gain more fiat.
Some people trade MAID to gain more MAID.


#862

To be honest, much of what happens on Polo is blatant manipulation, or the reaction to manipulation. Manipulation happens on much larger markets; what should we expect on itsy-bitsy Poloniex?


#863

Yeah, manipulation is everywhere, my point was that the price sticking at a set fiat amount is most likely caused by a larger majority of USD to MAID traders. To them its just a form of arbitrage.


#864

But if you’re stubbornly betting on a big market movement then manipulation becomes less relevant. The manipulators in itsy-bitsy crypto would be drowned out by any real mainstream adoption. I’m not worried by it anyway, it doesn’t affect anything in my long term plans at this point. Whales can do whatever they want… although I prefer it when they pump to when they dump :stuck_out_tongue_winking_eye:


#865

I think that may have been a reply to me…

Looking at the prices for Maid against Bitcoin for June 20th, September 8th, November 3rd Bitcoin was at a recent high and Maidsafe was at a recent low on those dates which must be due to speculators, long or short…which is you and me and lots of others.

Cheers
Al


#866

HAPPY NEW YEAR everyone!

I am trying to make some price estimations for 2017, but its not that easy with maidsafe.

I have some questions you might know the answer for.

  1. What will the inflation rate estimation be when the network go live ? Im afraid cause now only 10% is out this overflow will be created that drops the price down.
  2. I read an article about making tokens on safecoin and they will just be as annonomous as safecoin itself. Is this true ? This will be not really benefitial for safecoin cause black markets etc can just make there own tokens in that case.

#867

Happy new year.

In terms of the other questions, the network will balance the amount required to store and also what it pays out for farming. There is no built in inflation/deflation etc.

In terms of others creating tokens, they will have a similar impact on safecoin as alt tokens on bitcoin, I presume. In terms of safecoin, I do not see that make a difference as safecoin is a utility token really that has value from “scarcity” (as some talk of now, although I think that’s a red herring) and more importantly (IMO) “utility”, i.e. backed by a “useful thing” with a “useful purpose” (maintain the worlds data).

In the broader terms of trading, I hold no opinion whatsoever, sorry, but I am too involved in the creation to worry about the costs attributed by all of us to this value proposition. I feel that it is very likely a step in the more honest direction of currency, like many projects. I suspect MaidSafe is very different from many though as many of our staff now do not have or have never had any crypto currency wallets. Our focus as a project is not currency, although that makes up a vital part of the overall proposition. We do not try and measure or guess that measurement, but spend time ensuring the value is delivered.

In saying that we obviously believe this is a compelling proposition and will have significant value to everyone.

Personally I like the idea of early adopters benefiting, but am more driven by the notion that as many people as possible benefit, not from trading, but from “use”. There is a lot more to say on this, but the drive for us is “Privacy Security and Freedom” for all the worlds people, cash, profits etc. are part of it, but for it to be the most fair it needs to be value from use IMHO.

So early adopters “use” is not to be underestimated, but I think it’s good to see that as a step on the journey.


#868

I agree with many things you said.

But i like to support something that also benefit me eventually thats why i rather ask questions that doesnt always suit the builders vision. Eventually no1 love to lose money eventually :smiley:

I understand that the vision is not to be a currency but a store of data, but if you make the most annonymous coin out there with a network that is annonymous you cant expect it not to be used that way. Cause black markets do everything to try stay under the radar and what is better then a fully anonymous network inc currency.

Why i asked about the tokens is that u do believe that eventually it will bring attention to safecoin but just like ethereum many project build on top of your layer, but doesnt add extra value beside usage of the network to Ethereum. So i just wondered if this is possible. Ofcourse it will bring value to the network indirect by the usage of the network.


#869

Agreed, I wold hate any adopters loosing money and work to try and ensure that doesn’t happen. I focus on the value though and not so much the markets. I don’t find the markets too accurate, but give indications of feelings and belief in general. So I definitely do not ignore them, I try and factor it in to a larger picture.

This question

You answered :smiley:

I tihnk also the things to come. I started MaidSafe to create a secure fair global network. It can replace the current “network” web whatever folks wish to call it, but to me that’s boring. While boring it’s essential, but the bigger picture will unfold soon. Take secured shared medical information, secure shared Iot device (including cars) and more and add these to the mix and folk will see SAFE brings what the current system cannot. A secure non owned, intermediary free secure storage and communication system. That then gets interesting. Then add in shared neural nets and neural recurrent nets with fitness, novelty and the current “interesting” output based networks, where better to store/share and grow “intelligence” than on such a secured network.

So we get phase I done and offer secured autonomous networks with e global value exchange mechanism etc. A lot of hard work, but the real question is “now what can we achieve?” I believe part II is where we see huge innovation, ofc Phase I will see great steps forward as well when we have applications from people/groups/companies etc. not having business models of privacy erosion.


#870

Thanks for the answers.

Lets hope people are smart enough and invest sometime to switch between networks, that will be a hard job. People dont really always understand how much information they giving to the current network and if they know they dont really care, cause they preffer to be able to use it.


#871

Why need to pay farmers more than the price users are willing to pay for it ? Isn’t the difference between all cost associated with farming and the value of the mined Safecoins (the profit) inflation ?


#872

The network cares nothing about profit in this sense. So it looks for the cheapest possible mechanism to protect all our data. It pays more until enough farmers exist and calculates the cost of the service for users based on this in real time. This fluctuates up and down through the network life.

Hope that helps.


#873

Don’t be afraid of the MAID / SafeCoin price going down due to a live network,

While it’s true that more SafeCoin will come into existence through farming, it’s also true that lots of SafeCoin will also start being burned whenever anyone uploads anything to the SAFE internet

So that’s a huge counter-balancing effect that’s important not to forget


#874

People seem to be ‘selling the news’ and buying alts with the profits at the moment.


#875

Actually the inflation is the only thing that stops me from adding maidsafe/safecoin to my longterm porto.

Only 10% are out, and although i think the network will do great that still mean 90% more coins will hit the market someday.


#876

It’s not like other crypto assets. More coins in existence at any one time means more farming resources are being provided. The ‘value’ of a safecoin will be higher if it buys cheaper computing resources. More farmers and more safecoin will not be a problem imo. Farming rates should directly increase value and price rather than dilute it.


#877

you’re not an investor and the speculator is short-sighted :slight_smile:


#878

You should read a bit more into how the newly minted coins will be introduced to the network. It doesn’t happen all at once by any means. It’s proportional to the size of the network via farming algorithms and supply/demand of storage. So you should really be buying more right now or very soon or you’ll likely be kicking yourself. You may not be patient enough to hold and miss an opportunity but trade at your own risk.


#879

No it doesn’t.

I want you to understand that it doesn’t mean that.

Nothing guarantees that all those coins will ever be created at once because they’re always being burned also