I’m assuming poloniex is unregulated. Please correct me if I am wrong.
If this is the case, then it would be possible for someone with market moving
information to short MAID moments before uneventful updates are released.
Ok thanks for moving my post.
We would have a number of topics per day on trading issues if we didn’t have this “catch-all” topic for price&trading
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I don’t see how this could be prevented at the moment, buy think insiders are less worried about trading & focused on building a working network.
Due to the openness of development here, insiders shouldn’t have a major advantage on keen observers.
Even if they did, day trading crypto-currencies is basically a game anyway, so if anyone wants to play the game, they can feel free & take the risks.
Anyone who holds long term because they believe in the technology should be unaffected by any short-term gaming of things.
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Ok, well I would like the issue to have its own thread. Unless you want to hide it, then so be it.
@DavidMc0, Can we view the updates as they are being written? And is it really a game?
You must be new. Almost all cryptos available for trade are subjected to insider trading. If you are worried about updates being used for insider trading then you shouldn’t invest in maidsafe/safecoin, or really any cryptocurrency for that matter because they all behave quite the same with people in the inner circle having the advantage over the general community.
As a long term holder, I’ve been waiting for over 8 months and will continue to wait for another 1-2 years for updates.
Are you speaking on behalf of the Maidsafe development team regarding insider trading?
I have nothing to do with the maidsafe team. I am just a normal member on the forum.
Development update is every Tuesday. Traders are likely just going with the old adage - buy the rumour, sell the news. In other words, if there is good news, they will be positioned to sell into it.
It seems responses from members reveal they have the opinion that the development team does indeed have and use the advantage of inside information.
Are there any other members who share this opinion.
I don’t see anyone saying this and I don’t believe they do. I know it’s not unusual in the Bitcoin space that these things happen but I haven’t seen any sign yet that it happens here.
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That was a quick edit to remove “explicitly” from your post. This would suggest you have the opinion also melvin?
Yes - updates to code can be viewed in real time on their github, and each week there’s a dev update.
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Because I wanted to check all the comments first, nobody said that de devs are inside traders so ‘nobody said so’ instead of only ‘not saying it explicitly’
I already gave my opinion :), they aren’t inside traders as far as I know
So your saying they did not say it explicitly, and then went back to read the comments again to conclude they said it but not explicitly, and then edited the word out.
They didn’t say it, I’ve made myself clear in multiple posts now. You can always see for yourself who says what.
Yep, crystal clear thank you. We can’t see what all say when some edit their posts.
If some of the devs could calculate where all the repo’s are and what happens during testing before the update there may be a slight chance. I very much doubt any of the team are so involved with the trading to even contemplate that though. There is just no time. For instance I would bet a lot that none of the team have ever moved their coins they bought in the crowdsale. I know I haven’t but then it would be a possibility. Unlike many though nothing is closed in maidsafe so every single update is available to everyone, even meetings in many cases (though we do a ton of hangouts with live code etc.).
So it’s possible but I very much doubt it and it would be heroic of anyone to make a call on what the update is and how it will be viewed by the community. I think it’s a red herring actually, but trust nobody is a good motto. Personally knowing the team as I do (only professionally mostly) I very much doubt any of us have the safecoin to make a difference or the time to worry about day trading.
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Good post bullet, I think you ask some valid questions. I have often wondered myself whether insiders are gaming the markets (not just this one but cryptos in general). I’m sure it happens, there’s always a bad egg. But if it’s happening for Maidsafecoin, the scale is so tiny that those involved would be better served spending their time doing their actual job.
Yes, they are points to consider. Maybe the founder thinks a possible release of further network features should not affect the MAID price. And I do trust the guy although he advises not to.