Someone Has to say it - MAID's price is worrying

I’m sure everyone is following the price movement, but I get the sense that the predominant attitude here is one that’s reluctant to name the issues for what they are. Like saying “everything’s going to be OK” to a dying man. I’m not saying MAID’s dying - I hope it isn’t.
But lets get real for a moment.
I’m afraid that as MAID trades for peanuts the image of the project is being damaged, I’m afraid that it’s taking too long, and as time stretches the road map remains depressingly the same. I’m afraid that investors turn away.
I do want to believe otherwise, so please, don’t see me as negative, please, prove me wrong! I have invested what I feel is considerable funds in MAID, but at the end of the day, I can’t ignore what happens before my eyes.
I’m hopeful, but I can’t run on faith alone.

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MAID is traded in relation to BTC.
The price of BTC has skyrocketed lately, which means the price of MAID is not going to remain the same in relation to BTC, it is going to go down.

For example, If MAID is trading at $.02 and BTC is trading at $250, when BTC shoots up to $450, that 0.02 value of MAID will be a lower % of the BTC price, so the price in relation to BTC will decrease, but the actual value (.02) will remain the same…

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Look at the market cap. It’s not that bad.

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I’d agree if that’s the whole picture, but MAID doesn’t just fail against the BTC, it falls rock solid heavily against fiat as well. Right at the moment it trades for about a single cent, which might well be an all time low.

That’s exactly what I’m looking at and I don’t find it pretty. At the time of writing It’s about a single cent - considerably lower than I’ve ever seen it.

If you follow progress closely (reading the weekly updates and looking at github and jira), you see real progress is being made. I personally don’t believe that MAID prices can do long term damage to the image of the project, once it goes live and turns out to work as intended, MAID history is irrelevant.

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Nice!..and smart! Thanks

(EDIT - was referring to the new topic created by @Seneca)

You say “once it goes live” as if it’s absolutely certain that it will. How’s that?!
Let’s presume it makes it through though. I fear that delays, uncertainty and heavy price drops in particular, can cause a serious damage and ruin an otherwise successful project. An example is MasterCoin/OMNI.
It works, and the news on development side are all positive, there’s a new working desctop client I heard, and still OMNI just fades away.

The image of the project has been tarnished for some time. It is not the fault of anyone at Maid, it is just how it is.

Anyone reading this forum and other maid related forums see that the target is blurred.

When all comes to life and the value proposition is clear, the revival will start.

I worry about the things I can control. The value of MAID/safe coin is in the network, not perceived currency value. The value of the token before the network exists is a moot point.

Me personally I am buying more MAID. I invest in people like David Irvine.

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From following development closely, I’m personally convinced that it will. I don’t think I can convince you with words, you can either look for yourself or stick to your current belief that this project is going to fail. I honestly don’t worry about people losing hope right now, just like I don’t worry about the MAID price right now. If you want to get out, go ahead and dump your MAID. I just think it’d be a big mistake.

I don’t consider Omni as game changing as SAFE, so to me it’s comparing apples to oranges.

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the big picture…

Scotland is a country that recently (2014) had a referendum. The referendum failed to persuade the majority to back independence. Since that vote, support for the uk government has collapsed, the conservative (neo-conservative) government holds no legitimacy in Scotland.

And now we have the Investigatory Powers Bill (draft) moving in the uk parliament.
The mood is dark :rage:

What do you think is going to happen when these freedom minded people (60% of the population,perhaps higher) get the chance to take a gigantic leap towards more freedom, by securing their data, and at the same time enjoy a new form of money (as a content type), as a powerful side effect?

What do you think is going to happen? :sunglasses:

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Noone here can control the price, as someone said there’s no point in worrying about that.

The price is what it is. You can sell or buy more or just wait and see. Noone can give you trading advice, just personal opinion which may or may not be correct. Most people feel here confident about the project and Development Updates show continued progress (yes, after a series of delays, but then that was known many months ago and is unlikely to have had a devastating impact on the price).

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This is why I’m so pi**ed that I don’t have more BTC/FIAT available haha :smiley:

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Keep in mind, this is still similar to the Wild West. There are no regulatory bodies that can easily enforce international crypto-trading laws. When you couple high frequency trading with crypto-currency markets like Poloniex, it’s a recipe for “not all is as it seems”.

There are several bots running on algorithms that trade using Poloniex’ API. Therefore, it would only be one more step from a morally bankrupt bot programmer’s perspective to employ illegal spoofing:

“The illegal practice of bidding or offering with intent to cancel before execution”. Thousands of sell requests compress the price by influencing buyer perspectives, but since your algorithm cancelled at the last few miliseconds, you dont lose much money.

Source: https://en.m.wikipedia.org/wiki/Spoofing_(finance)

The ingredients of spoofing HFT puts coupled with sell-cancel-buy-cheaper-sell-higher (all in a few seconds), with relatively tiny amounts traded (in USD per transaction), a lack of regulations, and a soofing algorithm that works will dramatically burry the asking bids of MAID, and of course when the price is artificially compressed, you buy up as much as you can afford. (Said the hypothetical genius hedgefund algorithm programmer turned evil crypto-currency manipulator.)

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Honestly that sounds like trader talk to get people to sell into your buys, we see enough of it in poloniex’s trollbox.

Seriously though, I woke up to find that MAID went from 2045 last night to over 3000. And we are going to see some more big swings before this BTC madness is over.

It really looks like all the altcoins took a BIG dive while BTC madness occurred and the BTC price dramatically rose. Some traded their MAID and some held on to it.

Its up to the individual what their goals are and whether they are in it for the short term gain or long term.

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Exactly! There’s a lot of hyenas :smiley:

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All good points however many of us could care less about the price if we tried. I am one of those people. I think I have maybe checked the price 3 times since I purchased my first coins 6 or more months ago.

And the reason for that is I understand the project hasn’t even launched yet and not only that but that MaidSafe coins will actually have real world value unlike 99% of the other coins which are based on nothing. The idea of MaidSafe currency is that it branches off of the network. The network is always first. The network supports the currency and that’s all there is to it. No network no currency and because there will be a network with users, goods, services etc then there will automatically be value associated with the currency, its a given.

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Here here!

I am buying up more and more, whatever I can afford. Not because I want to hord but because I understand the value of the network. It’s like someone saying to you before the Internet or dot com boom would you like to invest in domain names or hosting space… you’d be a billionaire right now.

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