We need a new exchange (asap)

Now that Masterxchange is closing, we need a new exchange for Maidsafecoin. Bittrex for example. Just imagine for a second that something happen with Poloniex, just like happened before with several exchanges, and everybody loses all their bitcoins and maidsafecoins inside Poloniex. It will be a tragedy for Maidsafe, we cannot depend of one exchange.

Something like that happened before with another coins, NODE for example, it was only traded at BTER, and BTER was hacked. NODE was impossible to trade for more than one week, and the price went down like 500%. All the buyers with opened orders to buy NODE lost their bitcoin that were supposed to be converted onto NODE, and the market was destroyed.

It’s risky deppend of only one exhange. Maidsafe shoudl contact with another “big” exchange, Bittrex is a good candidate.

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What’s wrong with Shapeshift.io?

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^This is what I use. Love it.

I think he just may not really consider it an “exchange” (can’t store coins in there, can’t set your own price, etc)

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I agree two exchanges are necessary. What exchanges right now are listing Omni? Could we get Omniwallet exchange to start using MAID?

update: Looks Like Bittrex is the exchange: https://www.coingecko.com/en/coins/omnicoin/trading_exchanges

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It’s risky if the exchange goes bust. But how likely is that?
0.5% likelihood that Polo will go bust or get hacked in the next 6 months?
If that’s a reasonable estimate, then we don’t need a new exchange “asap”, but merely “soon”.

Another risk is when there’s no trading going on, which can be caused by listing a coin on too many exchanges.
MAID turnover on Polo is good - zero risk of takedown from that perspective.

If you day trade, it can be expensive.

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Shapeshift operates with Poloniex. Correct me if I’m wrong, but I think they just use other exchanges.

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Shapeshift maintains its own liquidity levels of the various currencies it trades, so that it can make the exchanges quickly. I’m sure it then also uses other exchanges to balance it’s holdings, etc.

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It’s been 2 days since I withdrew my Maidsafecoin from MasterxChange, but I still don’t have the coin in my Poloniex account. No response to my email from MasterxChange as of yet.

We all know MasterExchange is closing so it shouldn’t be discussed here.

See other topics for withdraw issues at that exchange.

@fergish yes, but in this particular cases there are no “other” exchanges where one can trade MAID, there’s just Polo.

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be patient :wink: I withdrew my MS-Coins ~1,5 weeks ago … took roughly a week … but arrived at the right address :slight_smile:

You are all welcome to send your safe coins to me. Obviously they would be safe, it’s in the name right?

On a slightly more serious serious note :innocent: Polo and shapeshift is a step up over polo and trex imho. Bittrex and I have shared a lot of memories, some good, several bad, the rest were bad and ugly, felt something missing for those particular memories. I’d like to see some focus on implementing decentralized exchange apps on the safe network network itself, or maybe even a useful idiot proof installer/wrapper for existing decentralized trading platforms currently in existence…

SAFE coin and the SAFE network are gonna be we what we make of it, not what we ask it to do for us… So you know, get back to the work. The lot of you. I only want to see 23 second coffee breaks for the next 24 hours.

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Why not team up with the Bitshares community and put Safecoin on the decentralized Bitshares 2.0 exchange?

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Because fairly soon MAID should be delisted from Poloniex (when the SAFE network enters production) and all other exchanges. There’s no need to have MAID listed on additional exchanges.

How will people buy and sell Safecoin though? You still need something like a decentralized exchange.

https://safenetforum.org/search?q=safex

Yes, at least one is needed and one currently exists.
If SafeX is done, there will be another exchange.

Nothing prevents any exchange from adding SAFE (or MAID, if they want to do it for the short 4-5 months prior to its disappearance).

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that is correct but you’ll need another protocol to connect to the safe network than you need for the mastercoin-protocol-thing maidsafe is using right now

By the sounds of it Poloniex (& maybe others) are willing to interface. Remember they only need to accept and pay safecoin. Once it is on their system its only numbers while being involved in the exchange.

How would someone buy Safecoin with Bitcoin 6 months from now?

yes i too think that shouldn’t be a problem - but if i where them i might hesitate to integrate the intermediate coin right now … =O (or maybe i’ll integrate it because then i’d be one of the first SC-exchanges … like mt gox … wasn’t huge because it was the best … was huge because it was first ; )

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