Poloniex trading thread

“holy moly, my exchange is closing down, it surely means the safe project has failed! dump! dump!”

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That probably depends when one jumped on the safe train. Nevertheless the current $1.3c on masterxchange is a real steal.

No wonder the price on Polo has gone to the crapper.

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I am very curious what the price of Safe tokens will be when the network will launch.

I see $5-$6c as reachable support levels, and maybe peaks at 10c but who knows…

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End of November on a price between 10k - 15k satoshis we’ll probably laugh about this anecdote. (wishful thinking, I know lol)

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If Safecoin is not divisible per normal currency rules (see 1, 2, 3 for more) it runs the risk of not being adopted by normal non technical people as unit of account (i.e. a currency) for use in transactions outside of storage allocation. Basic argument: an exotic division system needing secondary exchange markets to just divide a safecoin will exclude it from everyday use/non technical people). In this case it could be significantly overpriced at current levels as it just remains as an obscure internal network resource allocation token. A lot of its current valuation appears to assume it will have utility as an actual currency “coin” outside storage but I do not believe the developers have yet addressed divisibility, so whether it will achieve this is a big unknown. Caveat emptor.

In one of those threads, David Irvine explained that the problem of divisibility will be addressed when/if needed so I don’t think it’s a big issue now.

On the other hand,as I promised earlier, I found the time to prepare a chart with the price of Maidsafecoin expressed in USD by taking daily close prices for BTC/USD and MAID/BTC pairs.

The analysis is on the spot without special tools so don’t expect very high accuracy :smile:
Fibonacci levels:
0.00% = $0.0158
23.6% = $0.026
38.2% = $0.0324
50% = $0.03755
61.8% = $0.0426
100% = $0.0593

Average price since charting is $0.0255 not considering volume as a weight.
Average IPO price in BTC was $0.026 assuming 17000 Maidsafecoins per BTC (~Fibonnaci 23.6%)

I leave you to draw your own conclusions and to interpret this graph as you wish with the hope you find it useful :slight_smile:

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Nice chart, thanks!
I wonder if traders really reference the fiat (USD) price, or the above mentioned BTC speculation has more impact, but it’s certainly good to be able to see the both charts and this one is not generally available elsewhere.

You are welcome!

I hope the big whales don’t counterplay and put pressure on us now that we have this info readily available :smile:

The price might touch 1.5- 1.6c again when they feel that there is this opportunity to buy low (on bad news etc) but I think to get to 3c in 1 month from now is more likely fingers crossed

It is interesting you say that. I think the “default” BTC chart looks much worse thank this one, so this chart should be encouraging for the longs.

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Can you explain these fibonacci levels for the not traders amongst us :smile:

Charts here track to USD: https://coinmarketcap.com/assets/maidsafecoin/

As far as I have read David Irvine vision is for Safcoin to serve for storage allocation token on the Safe Network. That a Safecoin could possibly become something more than that, i.e. serve as a unit of account (currency), is outside this scope and far from a certainty. A coin that is not divisible (and vice versa) is not a coin that can be used as a unit of account, and unlikely to be used as a currency. Hopefully it will be addressed but so far I have seen nothing concrete on this from the developers. @happybeing mentioned that there may be a fixed exchange system between different “alt-Safecoins” to simulate division over on this thread - it might work perfectly, especially if it is bi-directional and transparent.

Don’t get me wrong I would love to see Safecoin become a unit of account and not just serve as a hard drive space resource allocation token - which is why I keep pursuing this division question. I am just pointing out that given the current information any future Safecoin valuation predictions are hardly slam dunks there are a lot of big unknowns.

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This is off-topic, maybe someone shared it with you already but this explains the idea: Safecoin divisibility

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Definition of Fibonacci levels here : http://www.investopedia.com/ask/answers/05/fibonacciretracement.asp

I use them to identify resistance and support levels within charts. I take the top value and name it 100% and the bottom 0% and then draw horizontal lines at the key levels I described there,

In mature charts, at some Fibbonacci levels (ex 39.2% ) you will see the downtrend or uptrend reversing, or not and breaking ,indicating buy or sell signals.

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I was aware of that graph but I find it too smooth and wanted to have my own version to play around :slight_smile:

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It was at about $6c at the start of 2015, when most people expected launch was near. I think we’ll be going there after the current sprint, when we’ll have a unified public network up and running. It is sure to cause quite a bit of media attention, and once people try it out they’ll get excited again. Right now I have the feeling that most of the Bitcoin community is skepitcal of SAFE, to the point of considering it vaporware.

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And a lack of blockchain :sweat_smile:

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Thanks @sfcoin for that graph, very interesting indeed. Lowest below 2 cents and highest at approx 6 cents.

So having 6 cents before completely live safecoin seems reasonable to me.

How dare you :rage:

All HAIL the Blockchain :jack_o_lantern:

:stuck_out_tongue_closed_eyes: :stuck_out_tongue: :stuck_out_tongue_closed_eyes: :stuck_out_tongue: :stuck_out_tongue_closed_eyes: :stuck_out_tongue:

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Somebody took a big dump on Polo, over 100 BTC traded and it’s not even noon yet - maybe one of those lucky MasterXchange customers who loaded up on the cheap MAID.

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