Maidsafe vs Safecoin

There will be a dev update tonight, check that for latest progress report. There’s loads more info on the forum if you have a lot of questions… long and complicated answers are probably better re-read than re-written :slight_smile:

@Erik_Aronesty please check if this is on the FAQ in the wiki, if not, please can someone dig out the answers and ask hillbicks or Nick to add it. It has been answered in full on the forum but I don’t have time to dig out answers or check the wiki at the moment.

If anyone from the community wants to help out by answering more of these already asked and answered questions, please do as the mod team are really busy at the moment. Thanks :slight_smile:

When the network goes live, the “10%” that exists as MAID will be diluted by an additional “5%” from the investors. From the perspective of someone who now holds MAID coins, doesn’t that mean that the value of the investment would likely drop substantially at launch?

Why? Please explain why you think those investors will start selling enough to drop the price when lots of people are learning about the benefits of SAFEnetwork etc

@Erik_Aronesty right after my response above @fergish posted this which I think answers your questions. We still need a decent FAQ covering this though:

Those of who wish to convert Maidsafecoin to Safecoin will have to go through some KYC organization like Poloniex? I had always hoped that there would be some sort of decentralized burn of Maidsafecoin to receive Safecoin. I don’t know if that’s even possible, but I definitely did no anticipate having to deal with Poloniex again after they changed their criteria.

Not necessarily, I am sure we can set up and in only address that folk can send coins to with a message stating their SAFE public address. We send safecoin there and job done. It will be scripted though. This will give us proof of payment and also a record. Folks can then send it to another safe address they own and it’s lost from any prying eyes.

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Fantastic! I’m relieved to read this! Thanks!