Topic: [ANN] IPO of MaidSafe:  Entering the Future of the Decentralized Internet - page 78. (Read 579765 times)

"Investment" is exactly how the courts and regulators will approach security fraud like MAID.

Functionally, it's almost the same as the infamous ventures listed on Bitfunder, Havelock, and BTCT.

The only change is in the name, so exchanges can pretend to be more at "arm's length" and merely allowing coin trading rather than acting as a stock market per se.

The Judge won't be amused at such obnoxious attempts to skirt the letter and spirit of the law.

Poloniex profiting from IPO/ICO quasi-investment scams like MAID is the biggest danger to their customers, more than hax0rz or whatever.

They're waving a bright red flag at the .gov bull, putting all decent XMR speculators in danger just to squeeze a few pennies out of the latest hyped scamvestments.

Was a large holder and have slowly reduced over the last five months (since they under performed their self-imposed release targets, stemming from 2015).

The recent "appropriation" of what should be non-existent funds is disgusting and prompted my exiting altogether of, for want of better term, investment.

The leaden footed approach by one of their staff members, revealing the company's cash position, projection of cash burn and announcing appropriated funds would effectively be sold against the community on market is laughable from a professional point of view. No responsible director would say this, or more importantly, do this. It weakens their potential with VCs, it destroys community trust and it obviously devalues the current token - the basis of Market Cap - the one ticking indicator that any outside financier cares about; How is this a smart approach?

MAID have failed to deliver and appear to not have the capacity to figure out security - a complex undertaking on its own. It's telling they wish to appropriate the entire sum of ill-gotten Maid (up to 24M Maids? ... up to $1.4M?) and have dollar-costed this to being worth 1 year of forward development. Again, why tell the market this, you will only attract shark VCs.

This is not taking away from the talents of their programmers, including the CEO, of their work on a very technical exercise indeed. Hats off, gents! If you succeed someplace then investors such as myself will look again - depends. Until then, you've evaporated my trust and others such as myself who are looking for innovation and delivery. That's the market reality. When you kick us, we kick along.

10 years of development and no product...blown funds...broken promises.  

The house of cards is only beginning to fall.  


Coinigy trading pros analyze MAID:
https://www.youtube.com/watch?v=kvyJSTel0lE

Check out the second half of the video.  These guys know what they are talking about and say it's a horrible buy.


Keep in mind that once the roller coaster is built, I'm sure there will be many loopholes to exploit (the final product is not blockchain based).

Maybe people are starting to realize the "MAID" product sold at Poloniex has zero value backing it, as it merely represents a ticket to ride some vaporous non-existent rollercoaster, if that rollercoaster is ever built.

The Kraken guys don't list that kind of pure trash, because they "want to stay out of prison."

Cite: https://soundcloud.com/tuur-demeester/jesse-powell-on-why-kraken-is-not-touching-thedao-im-trying-to-stay-out-of-prison

I guess Polo thinks they have better lawyers than Kraken, or feel the extra BTC they make from Maid trading fees is worth the risk.

Maid taking 100btc dumps to the face right now...

I don't care about the price ATM. I give them time to develop and after that we can discuss it really

Even though I own Maidsafecoin I don't talk price that much. But after all the FUD and nonsense out here, it seems MAID is still higher than
a month ago if we look at the chart...



Hope we'll see TEST 4 in the coming days, would be great.

I hope you're not on margin if you are buying here

you shorting ? , Lost much ? i bought even when was falling down as the song stopped at 2800 sat so now nothing is stopping me , you can lose 800 BTC shorting ? , be my guest see you soon

I'm back in with test 4.

And working on it for ten years also means looking for investors. So basically they are working on it for ten years now. It already starts with building the idea

For those interested, some points to take here:

They are working on this for 10 years now...
Well, not really on the software. It took them an awful amount of time and energy to find investors. Things got easier when Bitcoin became populair.
That's when they did a crowdfund and really started working on the project to build The SAFE Network. They went from over 500K lines of C++ code to
under 30K lines in Rust. Making is easier for other devs to read the code and help out. Also making is easier for themselves to change modules etc. They
also changed the complete architecture of the network, now having about 10 devs working on it. David Irvine said in the interview last week that some
periods they work up to 19 hours a day. And devs at Maidsafe don't get paid that much. It's working hard for the project without making a lot of money.  

Pumping an dumping coins?
I don't think so. The 21 million MAID they had in a charity organisation are now used to get extra funding. But that news was taking the MAID price down over 20%
which means their own coins became less valuable as well. No pumping at all. And no dumping either, because why would they dump a lot of coins? Especially when the
price is already down? The coins were already out there, listed on coinmarketcap as the 452,552,412 MAID. So the "new" coins that they sell are not even 5% of total coins
out there. Spread over 12 months that's not even 0.42% a month. Compare that to Ethereum mining 30% new coins in their first year.

Where's the MVP?
They are working on this for months now. And yes, it got delays. Not very different from other projects with excited devs that always seem to underestimate when it comes to
timescales. The great thing about Maidsafe is that they give very deep and technical dev-updates every Tuesday. You can follow their work on GitHub as well. The MVP consists of
the basic ideas of the network being up and running. These are: Registering an account on the SAFE Network, people running Vaults from their homes, publish and surfing Safesites
and upload some private data. Are we far off? No, I don't think so. They have a stable test network up and running on droplet servers. You can do all the things they promise for the MVP
right now.

Link to the stable droplet test network

You can also join the tests by running a Vault from your home. TEST 1 was very technical, only a few helped out. TEST 2 was click and run with the Vaults. TEST 3 was designed to
almost kill itself and see if the lower layers (Crust and Routing) survived this. TEST 4 could be here today and otherwise it will probably be there next week. It's a test for people to join
from their homes by running Vaults. Crust (the low IP-level layer) got a lot of fixes and updates so very interesting to see what will happen with that test.

I'll post an update when TEST 4 goes live. Would be great if a lot of people joined. The more the better actually.       

I wonder if they sold the 900k they sent to polo after this fake news caused fomo price action...

Dev team seems to be manipulating the market through news timing... seems to me like they should have all the funding they need by now.

I agree, MAID is a great investment.  But this is going down from here.  Why not buy at 3-6k for a long term hold if you can?  Or sell here to increase your existing position

The daytrader line was not a personal attack to you

I'm not a daytrader.

I actually made a decent amount from maid during the previous pump (and all of that MVP talk worked to my advantage). I still hold a little Maid (and some SEC, which isn't doing so well right now).

The fact there has been a delay isn't a big deal to me. It's understandable. The wording of their updates however always was an issue to me; they come across as shady when they stated something they knew couldn't be true.

Even then, when they are facing difficulties with the network which they want to investigate, it is fully understandable that they wait with the release of it. If they are working ten years on this project, you don't want to fail.

Believe me, i have invest a lot of money in this project and i really don't care what they have said before. For me it is the weekly dev updates which gives me trust in this project, not what they have said before. Every product (software or hardware) has problems when it gets released. I have participated in the pre MVP updates and there were problems. I find it fully understandable that they wait with the release of the MVP to sort things out.

As a daytrader it is really shitty...i also understand that, but hey, you win some, you lose some. Deal with it.

Not really.

Check out Ross' dev update from the beginning of Feb.
https://blog.maidsafe.net/2016/02/04/maidsafe-development-update-2/


Some key snippets:

"We are very close to delivering the MVP and depending on which core developer you speak to, this can be measured in either days or weeks. "

"In the next few weeks a Minimum Viable Product (MVP) should be released and publicly available to be tested."

Days, or weeks -- Unless he is using God time, and a day to a Maidsafe dev isn't a 24 hr day, their predictions were a bit off. And they had to know this, as testing hadn't even started yet. 

They are working on it for ten years now....then is the release of the MVP very soon for them in months...

You read it as daytrader talk

If you read their old updates during that time period, they certainly gave the indication that the MVP could be released really soon, any day now, that sort of thing.

I don't mean this as FUD, or anything like that, it's just an observation.

Take a look back a their updates in Feb (around when the pump started) and just how many times they
brought up the MVP. How many times they stated that the MVP was close, but not quite ready yet for release 'this week'. Of course when you phrase things like that, it leads one to believe the MVP is almost ready .... not that it is months away -- after months of more testing that the devs didn't feel worthwhile to mention.

Bullshit, devs never said it was going to be released any day...they said the testing is going to start for the MVP. The virtual goal was always around June. Guess what....it is June. Even then it is a virtual goal, si still possible it is going to be much later then that.

If you want this shit to be stable, you NEED a test run. No matter what software/hardware you make, you ALWAYS test before release. They were always open in their development and they never had a pointing time line.

I'm in stocks for 20 years already and this is a very normal procedure. The only problem is Bitcointalk where FUD is the engine of all dickheads who want to earn money NOW. As an investor you'll invest in a product. They follow the procedure which stock companies are doing and with in that line they are doing very well.

So if you want to invest in a stable product with history...then this is the time and product. Do you want hard cash? Go with ETH or other bullshit bloaded crap and go with the flow as a daytrader. Either way, don't cry afterwards, because an investment is always a risk.

MaidSafe is building something for years now with a solid company behind it. They are not going to destroy their work at the end with some hasty shit. Invest if you believe in it, let them do their job and wait. The price now will def. double up when all is finished.