A friend recommended looking into this project years ago and I was enticed by the idea and decided to buy into it. This was a long time ago before the first Bitcoin bull run and before crypto went mainstream. My cost basis was under 10 cent a coin and I hold roughly 30000 coins. Honestly I kind of forgot about this project for a while. Seems like a lot of empty promises from the developers regarding the timeline and the 30-40 people praising them every time there is an update.
Thinking about just selling my holdings in this coin, the only reason I havenāt is because it takes actual effort to sell since most exchanges donāt carry the coin. At one time it seemed like a coin that could 1000x+, but it has been over 10 years and no product. Will there ever be a working product or will it be 5 years from now more update threads on development.
Anyone looking to make a quick buck would have been disappointed.
I think anyone wanting to get in just to make some money would have been getting in for the wrong reasons.
The point was to build something that will be of huge benefit to the world. The people who were willing to take a chance on that and help fund it were to be rightly rewarded with tokens.
It sounds like you came in with the right attitude as you were saying you were enticed by the ideas.
Itās probably just as well you forgot about the project as you might have lost faith and sold up!
You could sell now for about 17 cents a coin so thatās not bad depending on how many years ago you bought the MAID.
I think you may as well keep them for now as things are looking closer than ever. Itās an exciting time to be involved and you could get stuck in with the next Testnet
No other project has yet achieved what MaidSafe set out to achieve, and I expect no project is closer to achieving it than MaidSafe is now.
As it has been since before the ICO, there is no firm timeline due to the nature of trying to do something that hasnāt been done before with no clear and certain path to achieving it.
Given this, if you think the concept is still worthwhile and see enough potential success with the recent rapid progress with test nets, itās likely worth holding your MAID tokens.
If you think the chances of success are low, you could sell now, but in previous bull runs MAID has hit over $1, so over 5x from here is very likely within 2 years even if the project is still in development at that time.
If the network is up and running & gains some decent adoption, I expect multiples of thatā¦ who knows, even 1000x $0.10 per token could still happen in a very optimistic scenario with significant adoption.
Last few years the development goes straight forward, so if you was waiting so long it is now better to wait few more years to see if there is final start of the Safe Network.
I guess that you do not need $4500 urgently.
Or you can try to sell, buy Bitcoin and after few years come back and buy it again
Bitter as it sounds, it is a justifiable perspective on this endeavour and the community, but I think itās superficial.
No need to quibble about timelines, but it has not been over ten years since the ico at least. In my opinion, of all times, this is a bad one to sell, but do as you please ofc.
Testnets look promising, but how far we are from the actual launch is anyoneās guess. My vague estimate is it will happen somewhere within the next three years. Youād better just forget about it again and let the holdings hibernate some more.
I do not read all, but rly nobody mention it that maid team few years ago start from skratch again, because first project was just hardā¦? If I wouldnt know this, then I probably react the same way
The team did NOT start from scratch again.
Well developed but revolutionary concepts that had been developed in C++ were rewritten in Rust. The basic concepts have remained constant while taking advantage of industry changes over the years.
Switching to Rust made everything much more compact and secure - less code so fewer vulnerabilities - something like 7-8 times smaller IIRC - quite apart from the the other advantages of Rust over C++.
Yes the basic project is hard. If it was easy, any clown could have done it.
Insert line here about JFK and the moon - āWe did it cos it was hardā
It seems like a lot of the most basic problems have been solved by now, thanks to the libp2p update, and refreshed vision (i.e. there were some years of straying off the original Kademlia-based path/vision).
Thereās still that pesky NAT Traversal as a ābasicā problem still all these years. I only hope that gets solved soon with a libp2p update so that the Safenet dev team doesnāt have to put their efforts into coming up with their own āoutside/parallel solution as a point of curiosity to just make things work how they would like it to work when the libp2p update finally happens anywayā (my quote). There may be additional more-basic problems, but thatās the one that sticks out at me still.
One last thing to consider: There have been regular test nets for awhile now. That is something that has never happened before for this long. All with mostly/many degrees of success. Iāve been holding (well also some selling ) since the end of 2014, so this is something quite reassuring for me. Just have to hope the team can continue without hangups as learned from past hangups.
There should be Safenet updates even after release, so itās not like there has to be twiddling of thumbs waiting for some perfect chain of updates from outside developers updating their code before the devs here plonk their own code in as replacement. I think itās just that developments from the past years have been way too far away from their own preferences for code/speed/efficacy (like a seconds vs. milliseconds, kind of thing).
I have to wonder, even with the greatest of intentions to finish, humans sometimes have a hard time doing so, especially with something (almost)literally groundbreaking, which may account partially for the seeming infinite loop. Maybe someone planted an infinite loop in the code of the devās beings, and that bug needs to be squashed (or it already has).
) since the end of 2014, so this is something quite reassuring for me. Just have to hope the team can continue without hangups as learned from past hangups.