What other crypto exchanges do you want to see Maidsafecoin on?

so far we (mastercoin foundation) are speaking to a whole list of exchanges, but of course more is better especially if this network wants to attract a boat load of farmers.

please list them here and I will see if we are already talking to them or if not then we’ll start to get in contact.

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Cryptsy, Bittrex, Bter

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Cryptsy, Mintpal, Mcxnow, bter, btc38, bittrex, btc-e, Vircurex, crypto-trade.com, coinedup.com

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Any progress? :slight_smile:

Can you all, please :slight_smile: vote on Cryptsy for SAFE (MaidSafe) coin? We still need 35 votes.

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Done! :slight_smile: Thanks for the heads up

Is listing on a bunch of exchanges going to help?

If you look at any smaller (let’s say, outside of the top 3) coin there’s very high degree of exchange concentration. For example (my experience with 2 smaller coins) in both cases a single exchange does 70% or more of daily turnover.

Personally I’d rather see the coin/token traded on 1-2 exchanges than on a bunch.

@prophetx: By the way, don’t all org-associated users have “maidsafe.net” or something like that next to their name?
It’s slightly confusing if not all people who belong to the project (either from the dev or foundation side) don’t wear a badge.

@janitor I don’t think @prophetx is part of MaidSafe.

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voted on cryptsy…they have it as “SAFE” on the active exchanges it is “MAID”…?

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An idea, maybe WE shoulden’t only talk to the exchanges, but also talk to those who create ATMs & virtual ATMs?

Having the token listed on a bunch of exchanges or ATMs will not attract farmers. At best it will attract the speculators (which is not bad either, but I know most people here don’t want to attract them).

As an “old” farmer you want to be able to quickly cash out.
Initially you’d use Safecoin to pay for the storage of your own data, but later on you’d have a net surplus of them (which is why you’'re a “farmer”, you sell your surplus).
Having this undeclared income, do you want to go to your favorite TBTF bank and cash out in fiat (after paying your income tax and sales tax)?
Or would a farmer perhaps prefer to cash out anonymously, in bitcoin or Darkcoin? Or even barter Safecoin for some goods.

There are similar arguments to be made for all other buy/sell scenarios.

The overwhelming majority of users will want to buy and sell Safecoins on a distributed exchange in return for Bitcoin or other cryptocurrencies/tokens.

Enterprise/institutional users will buy at large exchanges and as I said above, the larger the exchange the better (because such users buy/sell in volume). There’s nothing we need to do for them. They can buy at Masterexchange today and even there the liquidity is not sufficient.

Can anyone explain why it’d be good to have Maidsafe listed on 5 exchanges each of which has turnover of $5K?

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There are two benefits I can see:

  • exposure - more potential and actual traders will hear about Safecoin
  • trading volume - while it may end up more thinly spread, the overall volume may be higher because it reduces the barrier to trading. If I’m already on an exchange and fancy speculating/investing in this new coin, I’m far more likely to do so if I don’t have to go through the process of setting up a new account on an exchange I don’t know and have not learned to trust. Of course bigger players may be less discouraged.

I agree it opens individual exchanges with low liquidity to price manipulation. Caveat emptor.

EDIT: just to add, I’m not advocating more exchanges. In fact I haven’t voted because I’m quite happy with just a couple!

Exposure
If the exchange takes 0,2% commission, that’s $6/day on turnover of $3K/day (not uncommon for many coins outside of the Top 5).
Basically we expect them to be doing (the hated & unappreciated) marketing/PR work (yee-how!) for us because they’re such nice and friendly people. :wink:

Trading Volume
It costs you 1 minute of your life (let’s say $30/hr, so 50 cents) to switch to a different exchange so the cost of switching is extremely low which is why virtually everybody has an account on each major exchange. There are no barriers to trading.
It costs an exchange about $500/year (if not more) to support a coin. We saw above they’d need years to make any money off their investment.

But anyway, I’ll leave it to others to make all that happen and we’ll see how it turns out.

I wouldn’t have allowed Maidsafecoin on any exchanges.

The network will stand on it’s own and be a great success.

I would vote to have a decentralized exchange for SAFEcoin on the SAFEnetwork only, no external exchanges.

A lot of these listed alts are going to fail horribly, why get lumped in with them and risk be branded as a speculative play? SAFEcoin should represent a lot more than just another trade.

The network stands alone, why cant the coin standalone…the coin should represent the network and it’s goals.

**Edit: Happy to be shot down on this…I understand the need for gateways to the fiat world, but trading?

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Same here really, plus the more exchanges, then the more likely for some scandal to hit the coin from hacking etc. Apart from anything else, it will only be listed for 3 mths or so won’t it? When Safecoin launches, it won’t be on these exchanges anyway will it - just a Safe de-centralised one?

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Wow, so now we even have a vote against any exchanges (centralized or decentralized) that are not SAFEnet based!

Yes, but I think you need to look into each individual case.
By the way, I’m long two Bitcoin 2.0 coins that can be used for crypto-asset issuance so this is my disclaimer.

In case of MSC (which I don’t happen to own) your asset is denominated in MSC and then if it the alt loses value against other coins, it’s not good. But on many other coins listed assets may be denominated in bitcoins.

For example Storj.io tokens are sold for BTC and listed on another Project’s distributed exchange, but on it the asset can be denominated in anything you want to buy it (or sell it) for. You can buy/sell Storj.io tokens for any other token listed on the distributed exchange (that’s up to you) and regardless of what this Project’s own token does (whether its rate goes up or down), the Storj.io token is denominated in, and can be sold for, bitcoin because that’s where the majority of trade happens and that’s what they asked for during crowdsourcing (bitcoins).

I think some of these projects work better than you think.

It can. The Projects needs to code, maintain and support a wallet and distributed exchange. It’s all doable. Is it it worth the developers’ time or could they use that time better for something else?

Well, what I do think, is that the whole blockchain circus will end up being hosted by the SAFEnetwork.

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While it’s true that exchanges sometimes get hacked and the coins on them can suffer consequences, that’s just part of the risk required to get exposure and give Safecoins value.

Speculators on cryptsy, Mintpal and other big at coin exchanges are an important source of investment. For farmers to be attracted Safecoins need to have value, the higher the value the higher numbers of farmers will be attracted and the more they will be attracted to it.

I would say that at such a young and tender age, avoiding altcoin exchanges due to possible hacking risks could stifle the growth of Maidsafe. It needs watering with plenty of investment/speculator money. This is the whole business model that makes it sustainable. Also telling exchanges not to add safecoin is a minor expense.

The larger exchanges tend to add a coin when it has high enough volume and has been around for a while. It’s just a matter of time before it goes up on Cryptsy or wherever, no rush, and as you say, it does bring with it a risk, but imo it’s worth it.

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Cryptsy

A timely article, from today…

http://www.coindesk.com/bter-nxt-bitcoin-exchange-hack/