I bought some maidsafecoin and i have stored them in the same bitcoin address.
I want to resell a few because i need some btc but i was wondering if omni knows my private key? is it safe to import the key then send a few maidsafecoin and then reuse that private key later on?
I am also curious to know if the maidsafecoins are safe in case of a bitcoin fork?
MaidSafeCoins are safe in case of a bitcoin fork.
User wallet data is signed and unsigned locally in the browser. The server only keeps a copy of the public address and encrypted password
in other words it stores your private keys except they are encrypted with a password, and that password is encrypted. When you reopen a wallet you decrypt the password and thus can read all the keys. This is done on the browser client side.
Omni knows your private key, but can’t really use it. It is relatively safe to import the key send a few and then reuse it later on.
That’s an overstatement. Due to the lunacy in the XT camp, anything can happen.
This is what happens when people don’t acknowledge (classical) economics to be an exact science.
In a situation where there’s 2 forks come into existence, one can cash out his tokens on the both forks.
Above advice is claiming that in the immediate aftermath of such event you’ll be able to sell the full amount of your MAID on the both forks without a 50% discount.
Also, I don’t see how MaidSafe’s decision could be relevant here.
Interesting, yes, but whether they’re helpful, we can’t really know.
They need 75% to do anything. With 2 weeks notice, anyone who isn’t in it for the politics will switch to the fork that is going to pay money. With <15% of the miners and 100% of the difficulty, Bitcoin Core’s fork will be uselessly slow for a month or two. Nobody is going to want rewards on that fork where it is nearly unspendable, and has 15% of the value or less… Economically a fork will not be sustainable…
I doubt they get the 75%. Time will tell.
Either way Bitcoin is an experimental techology. You only need 51% to fork, An fork with even mining power probably would create 2 altcoins… I don’t forsee that happening though… Miners would have to support a fork that would cut their income in half, and that is not likely to happen.
Hmmm, I explained above, but it seems “likes” are doing their magic.
Let’s try again: see the URL above and consider how would you even know when (or if) a fork happened.
Also consider what happens if during that time (right after XT “wins”) MAID owners who run hundreds of NotBitcoinXT instances find crypto-exchanges or individuals who accept XT-based MAID and dump millions of them.
NotBitcoinXT pretends to be Bitcoin XT, so someone with 100-200 BTC could fire up enough of those instances to make XT “win”, and turn them off after that.
If I had 1000 BTC and prior to the deadline XT was at 40+ percent, I’d consider spending 20% of the stash to make history.
Nah. Running a node doesn’t make a difference you actually have to mine blocks. 750 of 1000 blocks must claim to be XT mined for the switch to happen. 25% or so of the Mining network is a massive economic cost.
So don’t transact and make sure you have your coins on all the forks. At some point when Maidsafe will change them for safecoins they will have to choose the leading fork and you can still switch them for safecoins 1 to 1.
That said, no, it is indeed not a good situation, and could be very disruptive, also for the distribution of Maidsafecoins. If you bought from an exchange during that time that accepted MAID’s from the wrong fork and can’t send them to the right fork, you have lost them. With some good coordination with the leading exchanges (poloniex and masterexchange) even that won’t be likely.
Perhaps we need to consider the story around Ethereum blockchain and its fork. Who imagined that a second ethereum blockchain would come out of the fork?
Now if you think about what happened, it could be very interesting for people trying to duplicate their money, or at least their coins, if you get a fork and you are able to have two blockchains to survive for at least a little while, you can make money out of you duplicated tokens.