Topic: Is MaidSafeCoin actually a thing? - page 2. (Read 14871 times)

Precisely...All markets are pumps and dumps.

Housing derivatives caused the worlds economy to collapse.. not Oil or Corn or Gold etc.

There is no need for shitcoins.
There is a need for gold and food and oil etc.

The recession was caused by shitheads scumbags passing off stock bundles of worthless garbage.
Empty envelopes they claimed were valuable.. simply because a bubble was created.
The bubble popped and the US govt had to hand out bail out's and other countries did not fair so well ..like Greece.
And that shit WAS regulated too !
Altcoin bail-out's anyone ? LOL

I can take a fat stinky god damn shit on your porch and you greedy ass fucking losers can pump and dump it.. doesn't means it's valuable or needed or useful or wanted.
One of you will be stuck holding the bag !
Sounds an awful lot like a fucking Pyramid scheme now don't it ?

Real SAFEcoins will be burned to buy real computing resources, like bandwidth, processing power and hard drive space. How much better is that than gold, fiat or oil?!

SAFEcoin would be more ubiquitously valuable than anything backed by it's utility as an industrial metal (we have enough mined gold to last us over 5000 years for 'use-cases', so it would be worth a couple of dollars per ounce if that was the reason for gold's value).

Even fossil fuel has higher volatility and higher price elasticity of demand than the serving and storage of data. Plus it runs out and damages our environment.

Fiat has value solely based on belief and it is worth less every year because more and more of it comes into circulation. It is not 'needed'. Dollars were only cut free to float as fiat in the 70s! Every experiment with fiat in human history has eventually resulted in economic collapse. It is certainly not necessary and 'regulated' just mean bureaucracy exists, not real accountability. REAL accountability is a myth. The rules and regulations are bought and paid for from inception to enforcement.


gold, oil, fiat etc, all these things are wanted or needed for one reason or another. None of them would be wanted or needed as much by as many people as SAFEcoin. It does everything the rest do and a lot more, store of value, stable, backed by something, private and secure, feeless exchange, scales positively, and is useful to everyone who interacts with data in any way.

Regardless of usability, everything can be pumped and dumped. If trading for profit is illegal, you'll only see a straight diagonal line up or down, even a flat line, depending on supply and demand. No need to study markets, just laws of economics. 

- Oil is used to power cars.
- Gold is used in electronics in PC's.
- FIAT is a CURRENCY that is backed and needed and regulated.
- Stocks are REGULATED and their creators are held ACCOUNTABLE.

Do not.. and i repeat, DO NOT dare compare real legit things with scammy ICO scheme digital token bullshit !

I am not havin' it little profiteer investards, not on my watch bucko !  

Actually, all markets are pump and dumps, simple or intricate, very short or very long. Oil, gold, stocks, fiat currencies and even tulips experienced bouts of pumping and dumping.

As long as buyers and sellers feel greed or fear, it will always be.

It is painful seeing words like pump to discribe the success of a project, so maidsafe is only designed to be a pump and dump coin. This project baffles me how is able to sustain the price, the project has been on for some time and nothing to show for the investment received to develop the project, one day it will actually be done on people that most of these tokens are just designed for experimental purpose and nothing else.

I have bought a quantity of coins several days ago. Too heard that they will be pumping soon. Here I hope that I won't be upset with them. Then to manage to sell the main thing in time to make good money.

Personally i going to start buying a few maidsfae coins here and there.I feel it worth it at 10 cent a coin ,I feel if they do a pump and dump scheme it will at least go up to a dollar at some stage where i can sell enough  to break even make a small profit.If it goes bust  then o well

Concise! 

I agree completely, although I'd give them a better than 10% shot, your post says it all in a nutshell.

If 'vaults-from-home' work properly this time (hopefully in the next week or two) it will be pretty big news and another big step on the road to a live network.

Exciting time to be alive

You keep forgetting Maidsafe is highly experimental - 90% chance of failure. But if they pull it off, the possibilities are astounding.

The politics are typical as with all markets. But the science is showing some growth though.

I'm not really sure what he might have meant, but I do know SAFE has changed a lot as they have solved challenges over the years, so perhaps this was an issue from some time ago? Or perhaps just something he has misunderstood and not taken the time to delve deeper into since? The network stores data with redundancy. One could certainly prove that with a code audit. It utilises proof-of-resource instead of proof-of-work. I'm not sure what Peter's issue might have been, but maid is such a huge animal I'd guess he just didn't look all that closely or hasn't kept his eye on it.

I think your conclusion is perfectly fair though. We can't all be experts at everything and sometimes we need to choose who to trust. I trust Peter Todd on most tech matters too, not when it comes to SAFE, but certainly anything blockchain related. I have a similar sense of trust in David Irvine. I'm sure if he and Peter were to sit down together they would find they agree on a lot more than they disagree on. I think a lot of people are waiting for something more concrete and useful before they invest; perhaps they are the smart ones for being cynical rather than optimistic?! There will certainly still be a lot of investor upside left post-launch with a lot less risk.

@Spoetnik well that's fair enough. I'm not sure this is really place for that kind of reminder though. There are a lot of ICO scams and a lot of people are piggy-backing the blockchain buzz to make money. Maidsafe has been working on this since 2006 though. It's completely understandable for them to go the ico route in 2014 to raise more capital. They were offered VC money but it came with too many strings. They have avoided VCs for good reason. Since then they have been burning less money than almost any other project (they've been stretching like £70k pm for like 15 staff and an office building etc for 2.5 years). They then sold a bit of equity in maidsafe the company (not the safenetwork or future economy of it) to qualifying investors on BttF. That was not crowdfunding. You have to be a qualifying/professional investor and most of us do some DD before we invest on there. They got lucky there and the BTC they raised has doubled in value in the boom and they are sitting on enough money to ramp up hiring in time for network launch.

SAFE is old and completely original. It's not an 'alt'.

"I came to Bitcointalk to support currencies not scheme created out of coin code for profits.
I hope you all get what i am driving at and why i bothered to post here."

Well SAFE is not the place for you really then imo. They are building a decentralised internet, not another competitor in the trust market for a store of value. SAFEcoin value will be determined by its utility, so it doesn't need anyone to 'support' it or believe in it really. It only needs people to find it useful once it exists. There's no desire to sell anyone any cool-aide here. Maidsafe don't hold many maids now, they don't care much about the price of the holder token and they don't spend their money on marketing. When the network launches they don't want you to run off and buy coins or invest, they want you to share your spare space with a couple of clicks, and then you'll earn the coins you need to use the services for free. It should be pretty empowering... complete privacy and censor resistance have BIG implications. It also can't be turned off by maidsafe or anyone else, so govt responses won't matter much imo.

I get what you're driving at and I agree that most of the shit in crypto is better avoided, but you've chosen the only project in this huge space where your concerns are totally misplaced imo. I'm not advising anyone to invest, but we should all support the idea and the team. This is legit and if it works it will mean digital emancipation and the implications will be huge and pretty immediate! I'm not just in this one for the money, I'm obsessed with it because I think the world needs it. It's a shame it has been lumped in the pile of DLT projects because it dwarfs the potential of any simple blockchain spin off.

So while you think you are here being the good guy warning people off, I think I'm the good guy for helping people to understand what it is all about.

Let's just agree that investing in ICOs is usually stupid and most people will be throwing their money away, the ones who make money are usually the ones who run with their profit instead of bag-holding (sadly). I think we can also agree that no one should be advising anyone to invest in any crypto projects. If someone is giving you that advice on BCT then they are very unlikely to have your best interests a heart. The Op here just asked for more info though didn't they?! People have been sharing their specific thoughts about the project. Your generic thoughts about all 'alt coin' projects seem misplaced here no? People want to read about maidsafe in this thread, not someone stating the obvious that this space is full of vacuous and leechey projects.

I wish SAFE wasn't so hard for people to get their heads around, but seeing is believing and understanding, so if they pull it off there won't be any need for impassioned explanations, it will quickly become obvious to everyone why and how SAFE can make their lives better (no need to invest for that and no risk of losing anything).

I hope we can all get behind this cause and farm when it launches. This isn't a competition and maidsafe isn't pitching something they want you to buy or spend money on. They just want to make use of the spare resources you don't use, so we can all take back ownership and control of our data. Spare (free) will always outcompete economies-of-scale (cheap), so this has the potential to permanently decentralise the data paradigm.

I want people to hold them accountable (in the absence of crypto regulations)

What we historically see on Cryptsy or Poloniex etc are 3 letter coded "currencies" being traded.
And not much more (not easily anyway)
If there is write up's they are fluff pieces by PR minded people painting a picture they want to portray..
making sure of course they put their best foot forward.

For example there may be a description on Cryptsy way back on what Maidsafe is etc.
But, they are probably not going to say it bluntly..
They are not going to start off saying "Maidsafe is a complicated ICO scheme"
You are going to get a techno mumbo jumbo runaround about it all.
*If* anyone actually cared to go find out what the shit actually is.

Ya know people i am pointing out the lack of Accountability AND Transparency that routinely goes on.
Which is bad in a variety of ways.. such as triggering the wrath of US govt agencies etc.
That is the essence of the anti-money laundering laws after all.
It is what they were created to accomplish in the first place.

So what i am saying is..
A lack of Accountability & Transparency is an INVESTOR RISK (if you are morally ok with the scheme)
I am saying that some of these projects could be treading in a risky area with governments and be subject to heavy fines or other actions that could with out notice decimate the project and there for your coin prices in your wallet on an exchange.. with no warning !
You simply wake up and you're fucked.

I don't see anyone fumbling over themself to explain how much the Maid guys pulled in and spent.
Just talk about how much money you made off the ICO.

I would group a lot of projects simply by pointing out they are an ICO of sorts.
That alone would turn me off of them.. but it goes further than that.
I would also have a secondary group of risk for "Schemes"
Maidsafe, Ethereum, BlockNET, Ripple, Steem, Bitshares.. all kinds of these things are highly sketchy to me.

Many are not even really trying to be a currency and that is a problem !

I came to Bitcointalk to support currencies not scheme created out of coin code for profits.
I hope you all get what i am driving at and why i bothered to post here.

Do what you want but i hope you see the very real risks i do.
They say this is all like the wild west.. so keep your gun loaded by your night stand when you sleep

I remember Peter Todd being pretty skeptical about this project. Something to do about how they lack "proof of redundancy". I'm not a tech guy, so if Peter Todd is skeptical of something, I usually go along with him. Anyway, good luck to all those investing on this project, because if this works out it's going to be pretty awesome, but I'm not giving this coin 1 cent unless they start showing some concrete results.

I read an article online where the author put MaidSaifcoin among top 5 crypto's .I was so convinced with that piece of article that I invested everything I had in it.
I think I was lucky that price went up recently and I sold all my MaidSaifcoin holdings.
I made a good profit with it.

This is the currency section isn't it ?

Wowzer, you really do know nothing about it do you?! It sounds like you think Maidsafe is building a currency?! Why don't you go and read up about how wrong that assumption is instead of asking others to spoon feed you?

Maidsafe are building SAFE network. A decentralised internet which has nothing at all to do with blockchains, nor does its 'currency' use one. The incentivisation model includes a commodity (safecoin) that acts like a fuel and is burned when used to store, serve, download data (nothing like a currency really). Users of the network are encouraged to provide their spare resources with safecoin rewards. This 'currency/commodity' is the smallest and least impressive part of what is going on here. It's like talking about a new car and referring to the keys and petrol tank as if they were what really mattered.

10% of the safecoin cap was pre sold at ICO. That's it. There's been no more ico funding. They have raised other capital with things like BttF funding and business partnerships. They are also now partnered with Glasgow Uni Computer Science dept for Christ's sake, how unscammy can you get?! The other 90% of safecoins will be farmed and recycled through the system when the network launches.

Everything they have raised and spent has been 100% transparent and public. All the Maidsdafecoin holding tokens are on the blockchain and we know what coins they hold and where they are. Their running costs and budget have all been pretty transparent too.

There's literally no project in crypto that is more legit and less money grabbing than maidsafe. At least get with the programme and say they are too ambitious and it won't work on a technical level. Those are reasonable lines to FUD. You look like a proper moron if you claim they are scammy or money grabbing. It takes all of 5 minutes to do enough research to see that is clearly not what is going on with them.

Ok, I mean it this time. No more rising to it...

SO.. Maidsafe is a crypto currency ?
All that deeper research on better forums tell you if it uses a block-chain ? or if it is an ICO ?
Or is it just "beautiful art" ?
Can we peel back the layers ?

I thought i was the entertaining one here but apparently the little NOOB called "Chewing Cocks" has yet MORE Youtube links he would like to share with us.. did any of you click on it ? I sure as hell didn't.
I have better things to do with my time like learning about crypto C U R R E N C I E S

..did i emphasize "Currency" enough ?  

Hmm this is a "Curious thing"

Bitcoin Forum > Alternate cryptocurrencies > Altcoin Discussion > Post reply ( Re: Is MaidSafeCoin actually a thing? )

So, lets recap.. an ICO scheme thingy-mabobber doo-hickey whatchya-macallit thing-a-majigger (for profits on Exchanges) STILL after years is collecting more ICO money for a coin that is not the coin (the real coin comes later ?)
Posted in a section called.. Alternate "cryptocurrencies" ?

OR.. is this the forum section called Internet Panhandling ICO schemes for fun & profit ?

What part of this is the "Currency" ? The ICO raising funds part that goes on and on year after year ?

How much have they "raised" so far ? And has it been publicly accounted for fully ?

..sounds like some expensive "art"    

Thanks for the reference to a forum. I esteem surely that is written there by clever people. I have begun to study this subject enough recently and now I read everything that catches sight. Really the subject of cryptocurrencies is very curious. I as well as you, sometimes, think that all this is too good to be the truth and still it there is a truth. Good luck to you, friend

Spoetnik... "being a bit dramatic" and it hit me like a ton of bricks. I read that and thought... idiot! Myself that is! You're not a troll, you're an entertainer! David giving away his shares means dick. He's still a scumbag! ICO has tainted the project... end of discussion! Now that's the work of a Straw man or an Entertainer. A Straw man needs more hay than that, so a WTF? = Bugs Bunny and Daffy. https://www.youtube.com/watch?v=F-t8PngHgWY You're definately Daffy!  

EDIT: Jabbawa, never talk about his trust rating! He becomes another cartoon character! Popeye, and defending his trust rating is his can of spinach! It gives him energy to justify his presence. Crazy people who are so far off the reservation, are often associated with illusions of grandeur. Has Spoetnik ever claimed to be the smartest person here, or own this place? He entertains, but he's also deranged.