I just got a quik lesson of how to lose 10k in one day.
1 Like
It was 900,000 unsold crowd sale tokens, not any extra tokens. The extra tokens are already part of market cap but were created in error. So the tokens in question do not include the 900,000 we used, these were unsold remainder of the original crowd sale effort. So no problem there I think at all.
9 Likes
When you announce something like this, it sure will cause panic before you even sold just one coin, making it double disadvantage, Less selling fund for development (cause they also lost 30% value in one day of there 19 million coins)
They should have tryed selling those coins against a small discount to people willing to hold till launch and only release this coins at launch this way the hype will absorb the coins without any problem. Just make new tokens for those 19 million coins.(maybe they tryed this though but i would bought worth 20 btc alone if they would sold against a discount like 10k sat each, compared to previous 13k value)
1 Like
We are looking at off exchange sales and options surrounding this.
6 Likes
We have always been upfront with anything like this, it’s of course going to create waves, but it’s more important we do things in the open. It’s a difference with a project like this and many other companies, we do keep things clean and open, no matter the cost.
It’s our job to provide reason for any value and the most important thing is to provide that reason. For this we need to push forward with some hires of people, community outreach etc. All that does cost money though. In terms of market cap all these coins are already counted etc. so that is OK. The issue right now is speculation, shoring and induced panic. All that is short term where folks try and scare short term holders into panic selling at a loss. We will see loads of stories now where folk try and induce more panic, eventually folk will get back to looking at fundamentals and where value lies though.
Pulling off SAFE is no small feat and times like these and with some holders that means nothing, to others (like me) it means everything and that is 100% where our focus should be. This is what will give us all value and more than that that is what the project has taken on as it’s task to change the world in our own small way. That’s important.
18 Likes
Will give this serious thought @BIGbtc. Thanks.
1 Like
He said “pay them back”, which is quite clear: the loan is denominated in Safecoin.
1 Like
It seems to me that most people here and on polo are right behind you and the project and have faith in your integrity. Your decision to announce the plan might have gone a little more smoothly had you predicted the kind of concerns that would inevitably be raised by it and pre-emptively answered them before the panic set in. Things seem to have settled a bit. Many MAID have changed hands today as a result of fear. That might have been avoided.
Anyway, what about the idea that the community donate the coins and your team not ending up to your uxters in debt? 
6 Likes
We are not dumping anything, we may slowly sell on market, we may do private sales, we may not sell, but we will be open. If folk think these 19 million maidsafe coins gonna be put on the market immediately then they will be making a large mistake, It’s not in our interest to have to pay back 24 mm for 19mm use and it’s not in our interest to push these quick on an open market. That won’t happen, basic grasp of maths would show this would be an insane move unless somebody wanted to do some crazy manipulation. We certainly do not want that, but we will be open and we know everyone will watch the addresses and that is more than fine.
Your premis is correct, but this is not what we will be doing 
12 Likes
Thank you David. You and your team are very transparent and your project will change the world.
13 Likes
Word. Very strong word. Money screws up everything. I have never seen it otherwise.
1 Like
Didn’t see this post, apologies for creating a duplicate.
2 Likes
We, or atleast I appreciate it a lot that this all is open, just for the market it doesnt help. Many wont buy a coin of they know the dev team is gonna sell a lot coins. Ofcourse the main market cap doesnt change but how many coins are there total on poloniex, i bet you increase the coins beeing traded there with 20% selling there (Unless you sell it offmarket, but you cant know yet) This ofcourse will first bring Panic and scare buyers, but look what happend to Eth curve when the development team were unloading there coins.
I have a lot of hopes for Maidsafe and i will keep them for sure, but i bought most around 13k so this news is really not great for me indeed. Lets hope the market absorb the coins.
2 Likes
What is people there problem? If Maidsafe is selling coins? Doesn’t that mean that you buy more? The Maidsafe devs need money to further develop the platform, these people hardly sleep because they’re coding up a better internet.
Now I’m really beginning to dislike it that the price is so idiotically low, but the more coins I can buy.
11 Likes
I Think thats unfair to say, dont forget there are people who might have bought around 20k each coin, cause of any reason late joiners etc. So ofcourse its not great for them to hear this and react on that.
Dont forget many people in crypto are way to emotional for trading ;).
1 Like
Everyone please chill out and stop complaining abouy temp drop in price, how can you not see this is the best thing for investors? I am setting my buy orders at 3-4c if i can pickup another 300-500k maids at those levels and now know devs are selling to get funding in order to complete the project that can only mean im getting coins at a unique discount! This is amazing news im glad they decides to drop on market rather than auction I WANT more at lower price as project progressing well and they will have funds to scale team, market it and roll out. You have to be so narrow sighted to not see oportunity here, unless you were speculating and planning to unload while its still maidsafe token due to some majic pump you will see this as a great move towards reaching Safe coin.
P.S Admi,Devs please pm me coinpayments.net would love to see if we can donate some money to you guys, sponsor or help in anyway if there is a way as we are huge believers in your project.
Cheers
7 Likes
Well first it was not 1 million 
it was 900,000 unsold coins form the crowdsale. We said the conclusion of the sale was completely horrendous, the mastercoin network was out of consensus. So the stop token was late and meant the extra Maid were already created. The sale also stopped short before the coins were all sold. It was 900,000 short. So these were simply the undersell amount, not any created in error. These should have been sold and will be.
The task now is to use the existing coins as best as possible to continue and enhance the project and do it in a way that is fair an honorable so
- They are part of market cap
- We use them
So we pay them back, not at $ value but in coins. So we take a huge hit as a company to do this and pay back a .hopefully, horrendous amount of $value back in the same number of safecoins. All being well this is a much better deal for the community that the most ferocious VC could make us agree to. We do this because we believe in the project, work hard and are fully committed to the community benefit == our benefit in the long run. So yes it’s a tough cost for us, but the project should be so much bigger than a few thousand coins whatever the eventual value is.
All in the open and yes we take a hit, very few of the scare stories will look at that and if they do then they will just call us economics fools or similar. We could have done so many wrong things with these coins or just terminated the project. So we choose the tough path, but the right path. Take an advance at today’s price, pay back later at a much much higher price.
With all the confusion we could have taken an advance at the $ price and that would have went almost unnoticed, but it would not have been right.
If we do not hit milestones there should be a cost and this is our cost. So now it’s up to us to increase the value here long before we need to use any of these coins or we pay more of a price. We will increase value through tangible forward steps and releases. There is no other way, unless you get into market manipulation and all the pump dump mentality, which is in my opinion where the insanity lives.
We will stick to the hard road and continue the journey but we will increase the team and outreach etc. as we are doing a huge job with a small team and hurting now with way too many late nights and busy days.
The insanity would be not doing this and burn out, run out of cash and kill the project
We are thankfully better than that and focussed on the goals of Privacy Security and Freedom for everyone. Now that’s worth a few cents in my book, and a few more drops of sweat and hard work.
21 Likes
Random idea perhaps , Offering like some other people have suggested a small discount , sell privately to people, have the coins time locked so they remain in the address and are not distributed, will be distributed over time in the next how ever many months or as release happens , slowly over time would be better for coin price .
This helps the project, doesn’t negatively effect the price directly from coins hitting the market , althou speculatory forces will do what they do .
Some people might be a little upset if they buy now and the price drops further , but the majority of people buying coins with the knowledge they wont be getting them for a while are likely holders , not traders, considering they cant trade them, so are more inclined to not really care about short term prices
2 Likes
Provide a donations address too please, lots of us would love to donate to you. Most know how badly the crowdraise turned out and know money makes important difference in such projects. Even etherum with 18mil had delays. We are grearful for your hardwork and want to support you. Also, I personally completley disagree with having to pay back anything from your end as this whole thing was done to get YOU FUNDED and gains were SECOND.
9 Likes
I also see it this way i would love to buy more coins at 7,5k , but dont forget many dont have this luxury
2 Likes