Poloniex troubles - Consider an actual wallet for your MAID


#21

Wasn’t there a wallet being developed?


#22

There are wallets you can use already, the ones I’ve linked in the first post.

The wallet you’re talking about is a prototype Safecoin test wallet that’s of no use to people now. Safecoin and the Maidsafecoin to Safecoin conversion is probably 4-6 months away.


#23

That’s a healthy dose of optimism there - I hope you’re right :smiley:


#24

I think you will find the majority of people are already doing the sensible thing and storing their MAID at a bitcoin address they hold the private key of.

Its the few who have not that we get posts here about. Seeing as there is some 9000 addresses holding MAID and some 17000 addresses that have ever held MAID, the handful of problems we see here are a very small percentage of those holding MAID.

Now as to the high amount of MAID on Poloniex, well that belongs to the

  • lazy
  • new and uneducated holder of MAID
  • the traders and Clubs trading
  • the opportunist who wants to grab the good deals when they arrive. May only have minutes to grab them.
  • did I mention lazy and uneducated :slight_smile:

So apart from the new/lazy/uneducated the coins held on Poloniex are ones that people want to trade/lend with. Some people bought 10’s of millions of MAID in the crowdsale or later and they have been known to trade 5 million MAID in a very small amount of time. It doesn’t take many of those to add up to most of the MAID on Poloniex.


#25

Your not telling me anything I don’t know.[quote=“DavidMc0, post:23, topic:13604”]
That’s a healthy dose of optimism there - I hope you’re right :smiley:
[/quote]

Lol


#26

exchanges are what makes world go around, without them, coins MAID or other would lose majority of their current value.

i think coins on poloniex are more secure then on average user PC that has 1 format per year and 0 backups. there was downtime, people trading lost their money, thats life, because of that unperfect technology they made much more overall then they lost that single day. we shouldnt go back to stone age just to migate risk of electronics breaking down. exchanges move economy, progress the scene, get people involved in trading.

i dont know who is Charlie Shrem and i wouldn’t care about his opinion

as for maidsafe coin, i would ask everyone to be little bit less romantic about entire idea, coin has no value whatsover, and will never have any value, other then we agree upon. thats how market works. value is determined by what we agree it is. when you buy 1 loaf of bread in a shop, its value is not 1 euro, it is what we agree, it can be 1 euro 2, 20, what ever we agree it is. people dont understand that price sticker, label, is just a an offer, a proposal, it is something that you can agree with, its not a value of anything in this world. dont think maidsafe network, applications, solutions of business problems have any affect or will have any value that will give value to a coin. in essence coin is not required for maidsafe network to work, it can work without it, and we can pay for it with euro or us dollars. coin was only made so developers can get their salaries.


#27

This is not true… if you generate and hold your private key offline then you are a hell of a lot safer than any exchange, you are also a much smaller target. Exchanges that hold a lot of money will always be attacked. Some of the attacks succeed and they can get away with 10’s of millions. That’s a pretty huge incentive and a pretty good reason NOT to keep your coins on an exchange. They are certainly not safe there and I think it’s irresponsible to suggest that they are.

Poloniex will probably get hacked eventually, people are constantly trying to exploit weaknesses and there are always ways in. If you store your coins on any exchange then you should expect to lose them all at some point, it’s just a matter of time imo.

Ahh, so you just don’t have any idea what you’re talking about then, I see. Well, at least you’re consistent /shakes head. Maybe read, research and think before you speak. The coin is fundamentally necessary for every aspect of the network’s functionality and incentive system.

There seems to be a hell of a lot of very basic and obvious stuff that you don’t know about tbh, maybe ask questions with humility instead of pronouncing rubbish as if it were fact?


#28

there are private institutions around the world that use blockchain technologies to solve real business problems and they did not create any sort of publicly traded coin to make it work.


#29

if he is your role model good luck, i have none


#30

That’s nice, not relevent in any way, but hey ho :confounded: .

  1. No blockchain here, not even a little bit of one.

  2. SAFEcoin is a utility, not a currency like all the ‘crypto’ projects out there. You burn/destroy it in order to store and serve data on the network. There is no other way to interact with SAFE other than with safecoin (that anyone can get for free by farming it). Without safecoin there would be no way for the network to manage and distribute value or incentives, it quite obviously could not be done direct with fiat!

Eh? /raises an eyebrow

I think you need to do more reading and less talking. All the points you’ve made above are wrong and misleading.

You are embarrassing yourself, much easier to read or ask questions about the things you clearly don’t understand.


#31

could be all done with blockchain and without releasing maid coin in the first place. value of this coin is presently determined by exchanges, by demand, not by you holding it in your private wallet and not trading it and claiming that it will be used for big things.

you are one of those people who believe your money is safer in your house then it is in the bank. my grandpa was like that. i keep my maid at poloniex, i will let you know when I lose it all.


#32

I mean, just wow. Do you really not feel the need to read or understand anything about SAFE before you make that comment? How do you have the balls to say that with zero understanding of what safe is or how it works? Amazing!

It could not be done with a blokcchain, or without SAFEcoin… it takes 15 mins or reading to understand that, please put in some effort at least.

:laughing:

:joy:

Oh god please stop now, my sides are hurting.

Why are you in crypto if you don’t understand the value of it is built on avoiding counterparty and systemic banking risks? That is the foundation of $50bn of crypto value. What are you doing in this space, your grandpa sounds more in touch with the zeitgeist than you?!

Thank you for the chuckles though, at least something positive came out of this drivel :wink:


#33

I hope that if there is another round of funding or release of more coins that it can be managed and run as an exchange ICO. New coins for sale and current owned coins transferred. Maid could clone a simple block chain with wallet and request all maid coins to be transferred into the new SAFE TOKEN.

Even if there is not another round of funding this could be done very easy to give all MAID token holders security in a temp blockchain and it would be also a good PR step as of current many new buyers would be put off that their token is just a piece of txt on BTC.


#34

I disagree completely. A dedicated temporary blockchain for MAIDsafecoins sounds way less secure, and I don’t see how it is necessary at all. These Omni tokens are the temporary blockchain until SAFE launches.


#35

Here we go again:


#36

Worth mentioning Coinpayments is another relatively secure web wallet where you can store your Maidsafecoins. I believe they are endorsed by the Maidsafe team. Recently they’ve been part of a joint promo event in Asia.

The upside to using Coinpayments as a Maidsafecoin wallet is that you don’t need any extra BTC to move coins back and forth. The downside is that you don’t control your private keys. Coinpayments seems to be pretty reliable, though.

Web wallet
https://www.coinpayments.net/register

Android and iOS wallets
https://www.coinpayments.net/apps


#37

I failed to place orders today. The exchange returned an “Order execution timed out” message again and again.
However, I managed to withdraw funds, so I know that BTC withdrawals work at least.
I think I will continue trading at Bittrex. I am not going to wait untill it’s too late and Polo sinks with my MaidsafeCoins.


#38

Did you withdraw a large amount of BTC? I’m asking this because when MtGox was on its last legs they were only processing small withdrawals.

The Cointelegraph author stated withdrawals were halted. I don’t see any new announcement from Poloniex claiming they’ve resumed withdrawals. Were you able to withdraw money after the Cointelegraph article came out?


#39

10 BTC. After the article as far as I can remember.
I am still stunned by the sheer trading volumes in Polo. Given all the red flags I would expect Polo trading volumes to plummet and Bittrex to pick up.
C’mon people, evacuate! Let’s not let this be the next MtGox!


#40

Are any polo prices trading at unusual premiums? When mtgox went, it was obvious the prices were very skewed.