MaidSafe Loan Opportunity - APPLICATIONS NOW CLOSED!

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I suspect the legals involved there would be, expensive and “best en-devour”. I mean risky. It would also mean us telling folk when we were selling and the implications of that etc. I like the idea but suspect the complexities would be sizable. Possibly a normal OTC thing at some stage would work, but I am not sure of the work/contract and risks involved in that.

If we ended up anywhere close to “money transmitter” then it’s a huge can of worms and the FUDers would go crazy with drooling excitement :wink:

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Same in UK, we call it a capital gain here. So interest is a gain and liable to tax. Loan itself is not, so loan £1 get £1 back then no tax implications. If you get £2 back then you have a gain of £1 and taxed on the £1.

If you donate 1 safecoin then you are taxed on the donation (now anyway) so the current value minus the value it was purchased at. It is all a bit mental IMO, but that’s UK tax laws AFAIK.

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It definitely would have been easier in a way for @dirvine to say hey we are looking to borrow 2 million USD. Only prob I see there is there is not a guaranteed excess of USD right at release to pay that back plus interest. With MAID we know that much will be minted. So one risk has been simplified but as a consequence another aspect has become more complex

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This was my thought. That returning the 100,000 would generate a tax liability based on any gain in GBP value between now and its return, plus that on the 50,000 bonus.

Not a problem, but worth understanding!

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I was just a few days away and all this happened?? Light speed!!> hahaha…

What is most important is the fact that the community is here supporting this project!

It might take a while , there might be challenges but I am confident we will get there!

Congratulations, maidsafers!

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Is it a “loan” or a trade? I give you maidsafe tokens and you give me safecoin later down the track.

lol … I’m being cheeky here, but in all honesty could it be legally done this way? … Of course you’re not a lawyer, so I don’t expect an answer - just rhetorical.

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(sorry for our english)
Today I had an inner conversation with myself. That’s how it went:

So, Jaco, they are doing a coin giveaway now? wtf?

What? No! that’s totally different.

Of course it’s different, they are not some anonymous youtube scammers. But it really seems suspicious to me.

It isn’t… Of course there is some risk, but it is all better than it ever was. You are spreading uncertainity.

Yes, I am… Everyone in the community is so optimistic.

Because they see the big picture and are patient.

Or blinded. Theranos promised a breakthrough technology, raised $700 millions and failed to deliver anything for over 10 years while everybody was admiring the project

Now you are being silly. Do not compare Theranos to Maidsafe.

Whatever. So, when will be Flaming released?

Stop asking this! That’s not healthy.

No, I mean it, when will it be released? What’s your guess?

I don’t know. Few weeks.

Didn’t you say this in April?

Yes, but things changed. Fleming will be much more advanced than originally planned.

If it is a matter of weeks why didn’t they actually show us working Fleming before asking for more money? What’s going to be next? No Fleming at all and we go straight to Maxwell? Need more money, need more time?

Even if such decision will be made, it will be good for the network. I trust the team.

That’s weak, you can drag it on forever. Maybe this network is impossible after all and nobody wants to admit it

Great things need time. You know this from your own experience. This is a great project with great perspecitves. Why are you mocking?

Because you are emotionally involved. And I think you shouldn’t…

I am, because this thing has the potential to change the world.

Or the potential to make you rich… If you want to change the world then go and change it and stop waiting all week for updates on a project, that also has the potential to collapse! In your head you convinced yourself that your future is gold. That’s sick and of coure at this point you will not admit that you may be wrong

Now you are projecting things on me! I think you are like a spoiled, manipulative child. And your point is to make me post this conversation on the forum, so you can show the world how disapointed you are!

No, but yes, post it. Can you spellcheck it first?

No!
I will not publish it at all!

Come on, please

But not as a separate thread!

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Hmm, well take a risk or don’t take a risk. You have no obligation to take any risk at all. You have no obligation to anyone here to point out the obvious risks right? And nobody here has any obligation to make you feel better about taking risks either. So your internal monologue just comes across as FUD to me.

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one day you will be dead and anyway you will lose everything you have … Here, apart from winning for ourselves, we have the opportunity to help countless people after us …

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… and at < $0.50 per coin, the risk taken on by a person is proportional to pure personal greed.

You make your own risk.

$100 will buy you 800 maidsafecoins.
The claim is this project will hit massive gains, possibly as much as bitcoin, but let’s just start at $1000 bitcoin price…

A $100 investment could land you with $800,000 pay of in the future. That’s enough isn’t it?

This isn’t a savings scheme backed by some insurance company, its a well known risky sphere crypto, and if anyone complains about risk, then this project, or any other project cryptosphere isn’t really suitable for them. I’d suggest they take their $100 and place it in an ISA or a ‘high interest’ savings account in the high street.

… though, considering the state of the banking system, that maybe even riskier.

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yes … and the network isn’t impossible either - it is tricky as requires many layers and will always be being worked on post MVP for the next twenty years and maybe more (assuming no successor comes along).

So any code developed today can be picked up and used to move forward (even if only a guide for what not to do) tomorrow.

Hence my money isn’t being wasted as, if they fail, the code will be out there for anyone else to jump on and build upon.

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The central bankers seem dead set on printing into oblivion. So the relative value of dollars, pounds, marks, yen, etc to the value of the network translates into higher and higher valuations for the network coin at the end of the day - especially so as the coin is tied to storage costs - a real thing that will have to be paid for by farmers with some currency somewhere. If fiat money hyper-inflates to dust, then crypto will most likely take over as global money. As I’ve written about before on the forum, the coin of the Safe Network will be one of the best out there technically for many reasons.

$10/coin is a snap with $100/coin in 5-10 years … and sometime after that we won’t really be able to make the comparison because fiat will become worthless IMO.

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The UK Government just updated its rules governing cryptoassets. Would probs be worth someone with a legal brain to go through it.

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:disappointed_relieved:

A loaf of bread might cost $100 by then.

shopping-carts-inflation
shopping-carts-inflation745×605 94.9 KB

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Old Andrew Jackson would be rolling in his grave (I think they put his picture on the $20 as a joke). He shut down the central bank of his time when he was president. I’ve heard that he gravestone reads “I beat the bank”. He called them a “den of vipers” and predicted they’d destroy the nation. After he shut them down, the banksters weren’t able to get their foot back in the door for something like 80 years - 1913, as your graphic says was the date they created the Federal Reserve Bank - which is a private bank despite the name - although the US gov does own share in it.

https://www.silverdoctors.com/gold/gold-news/andrew-jacksons-speech-against-central-banksters-as-true-today-as-in-1832/

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no need to being personal here, we all will:D

funny, that few minutes after my fud 1000$/coin statements are being liked.

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Is the new weighted system based on the number of subscribers divided by 10,000,000?

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We have decided on taking in 20,000,000 and were oversubscribed by a long way. The consensus was to allow up to 20mm and pro-rata everyone. We had over 33million offered, it was just over 26 but when all declared we were well over that.

This weeks dev update will update us all on the offer and uptake. It had indeed been eye opening and after all the tough weeks, certainly humbling, yet again. We have a job to do now.

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Congratulations David, it’s obvious to me that the reason for this support is the way you have behaved and the values you set for yourself, the project and encourage in everyone, and how you walk your talk.

I’m so pleased you see the response from the community and that the project has the resources it needs, and some!

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It’s an amazing response - especially when many folk here “missed the boat” - including me.

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