Perhaps it’s about reputation, I don’t know. There are plenty of people who are still skeptical about the legitimacy of this project, because of the lack of a blockchain or what happened during the IPO. I can imagine an exchange owner wouldn’t want a coin on his exchange that he fears to be a scam.
From my experience the exchanges typically like a sweetener, like we’ll add you to our exchange in return for XXXX? number of MaidSafeCoins. I think it would be pretty trivial to get added to the exchanges where the Mastercoin smart properties have been enabled, but I was never hugely convinced that was a worthwhile investment, even though the sums involved were never that great (normally a few hundred USD). I appreciate that increasing the number of exchanges carrying the coin would increase liquidity, but it would be great to hear if community members think we should be pushing for an increased number of listings? Please bear in mind our development position and as suggested above, that MaidSafeCoins are temporary.
There’s absolutely nothing I think Maidsafe should do, it’s the exchanges who are missing opportunities. I am just surprised that exchanges probably aren’t even looking at the projects but are just saying, for X we can list you
Half a year ago perhaps, now we are likely not longer than half a year away from launch (my personal estimate is April). Seems hardly worth it to me at this point. After launch we should of course actively pursue this for SafeCoin.
Yes it’s quite a short term approach that many seem to be taking @Melvin. IMO this stems from there being a lot of noise in the crypto space about the next new amazing coin/technology and the exchanges are simply unable (maybe unwilling?) to keep up and discern the wheat from the chaff.
More exchanges would actually reduce liquidity Because actually exchanges are not advertised so well… The exchanges are actually fairly passive when it comes to what they sell.
With more exchanges actually the best strategy would be to issue a community exchange and cease reliance on those somewhat careless exchanges.
More exchange listing will create more price gaps and make maidsafecoins illiquid especially considering the short duration of their existence.
A hind sight is that from the creation of the maidsafecoins an exchange that is decentralized and fee less could have been made… It is noble to join me assist existing communities however despite the already existing and maintained exchanges they are highly amateur in management and in strategy.
They say clearly in their FAQs it’s simply to encourage users to withdraw in bigger chunks (i.e. you pay for what you get, and what you get is manually approved withdrawals which is perfect for any serious long term holder) and they would probably be willing to make it cheaper because they missed the fact that MAID jumped so much.
Did you contact them and ask?
Furthermore their trading fees (0.12%) are very low (for example Poloniex’ is 60% higher).
MasterXchange is old style but it’s not bad.
They didn’t miss the fact that the price jumped because first it was 130 Maidsafecoins to withdraw. I don’t trade maidsafecoins myself but it’s also not very encouraging for others when you need to pay 2$ for withdrawal.
And what do you expect? Manual verification at a 3rd world price?
People are trying to run a business there.
I’ve been using Poloniex for years (with BTC and other coins) and also MasterXchange (since MAID became available) and I’m happy with the both (including their fees).
On Poloniex if you trade $2,000 (buy and then sell), by the time you exit you’ll spend more than you would have on MasterXchange (and I’m probably making a false assumption in your favor - that you’d get equal spreads and hence equivalent buy and sell prices on Poloniex).
Each does things their own way. MasterXchange is nice for frequent trading with large amounts (which I did) and the manual withdrawal procedure is perfect for that. In online wallet positioning it’s quite unique in that regard because it’s difficult to get manual verification so cheaply.
Johann Gevers from Open Transactions is talking in this video about micro-transactions at a cost of 1/100.000 of a cent (check 19:35). That’s because OT won’t use proof of work. So you just pay the server for some calculations (done in a tenth of a second). They also use voting pools which make it easy to transfer BTC in a tenth of a second.
All transactions are signed by the servers, yourself and the one receiving. So enough verification just like Safecoins. It actually works quite the same. No blockchain. And because no one can pretend to be you, there’s no need for a manual withdrawal verification. The only way the server can screw you is by not taking the transaction. It can never steel your coins. Nobody can pretend to be you, because the moment you make a transaction, it’s signed with your private key. No one else can do that.
From the following conversation on Maidsafe Google Group, it would follow that exchanges if well informed, may find the window is too close to shutting.
I am the General Manager at Poloniex. We have heard that some changes are coming for MAID and would like more information about what we should do to stay up to date. Is there a swap upcoming for MAID to Safecoin? Will the ticker be the same? If there is a swap, ideally, we would be able to facilitate internally at Poloniex, thereby allowing our traders keep their coins on the exchange and having the swap occur automatically for them- is this possible, and is there a deadline for swapping? Please advise.
Thanks for getting in touch and being proactive on this issue. Yes there will be a swap from MaidSafeCoin to safecoin but we don’t have a specific date for this yet, but
I would guesstimate this will happen in a few months time, dependent on how well implementation and testing goes. We have still to work through the details of the change
though so I will keep you updated as we progress, although feel free to give me a nudge at any point on this email address. Thanks again!