MaidSafeCoin (MAID & eMAID) - Price & Trading topic (Part 2)

[happybeing]

I’m not sure the thing that will enable SNT to kill bitcoin will be the advantages of SNT, but that lots of people using Safe Network for other things will become familiar with and hold SNT just to do those other things.

Whether running nodes, storing data, sending safe-mail, chatting on Decorum, posting videos… (the list is endless) all these folks will have SNT in a simple to use wallet.

Those just browsing won’t need SNT but everywhere they go will be opportunities to do stuff they might want that will require them to get SNT.

Add to this usability improvements such as a single ‘login’ for everything, ease of adoption whether running a node or just wanting to browse, and things can move very fast. Because once you have SNT and understand how to use it you’ve just jumped the biggest hurdle to bitcoin and every other cryptocurrency - and you have lots of things you can use it for as developers start making apps. Boom

[JayBird]

Agreed on all fronts. I’m not sure if I said something that sounds like I believe something different to all this to be the case, but I certainly didn’t intend to.

I would even say it’ll be fundamental to Safe’s success to get loads of people involved who are absolutely not in it to speculate. If you only get speculators, then it’s only about profit, and no-one will care about the network. Another investment comes along, and they jump off. Luckily there are various reasons to imagine people might get more organically and wholeheartedly involved.

Take just one example from your list there, storing data securely - imagine everything goes as smoothly as could be hoped, we’re a few years into the future, and a functional Safe Network has been going for ~6 months, and no massive data hacks or breaches have occurred. The stack is proving itself in battle.

At the moment, governments and businesses are absolutely haemmorhaging money to nefarious actors cracking their systems. Not to mention the damage to their reputation and the embarrassment involved. It gets worse every year… because the internet wasn’t built for security, it was plastered on after, bit by bit, over the years.

What happens if a thing comes along that promises to largely solve that problem? Low cost, easy to use, no third party involved, no forms to fill out, just try it and see. And that thing has proved itself for 6 months, a year? As the months tick by, governments and businesses that don’t at least try it out will be laughed at.

So yeah, it’s a very big IF until we see it in the wild. We’re all here because we think there’s a chance they might pull it off though, right…

[Toivo]

Having a live testnet did not immediately have a distinct, significant positive impact on MAID price. There is a bug somewhere… I’m going to check my expectations first.

[tobbetj]

Does anyone know about the progress yet? Except our small group liking every weekly update. Any outreach on example Twitter, Mastodon or whatever the cool kids are using?

But either way it probably will have to be a lot more stable before increased results of demand can be seen if outreach is being done.

[JayBird]

A. Well done for including Mastodon, you’re coming on leaps and bounds

B. I’d say it’ll be soon enough that we’ll see action on that front. I suggest a teeny bit of patience. The outreach will be far more solid if they’re saying “We’ve done it! Come join us, today!”, rather than “Look, we really think we probably have done it, come join us very soon, we’ll let you know!”. Anyway, weeks, months, not more, is what it feels like. @JimCollinson has been awful quiet these days for example - who knows what he could be cooking up.

C. If you can’t wait, start blogging/video-making/posting/audiocasting/walking around with flyers/whatever you’re into it’s the perfect time to get started, now that there probably won’t be any major technical changes.

[Southside]

@JayBird

@JimCollinson has been awful quiet these days for example - who knows what he could be cooking up.

The rest of the cryptosphere should be very concerned about this

start blogging/video-making/posting/audiocasting/walking around with flyers/whatever you’re into

[Josh]

Say what?

[aatonnomicc]

Nice time to buy some more

[tobbetj]

Seems don’t have to think about converting maid to emaid for arbitrage anymore.

[DeusNexus]

I will help to keep eMAID and MAID close together, it was a nice btfd moment

To put it in perspective, a person sold over 300K eMAID and this is a huge quanitity for our current market.

However if you were to sell 300K MAID on Bittrex the price would now be 0.00000022 (294542.43600348 total MAID bids until that price) that would be a drop of -96% or put it at $0.005918 (given current BTC price of 26900 USD).

[MrKeepingItSafe]

Someone reading libp2p isn’t a perfect fit and some more custom code needed?

[tobbetj]

@DeusNexus

I will help to keep eMAID and MAID close together

No worries, please keep the price apart if you can.

[Toivo]

Well, you never know the reasons why someone is selling and if the amount sold is a lot or a little compared to how much they have.

[Audity]

That doesn’t fit the agenda of catering to our deepest fears given form via username.

[DeusNexus]

Bittrex Orderbook Snapshot 23-May-2023

Edit: Yesterday eMAID on Uniswap hit a new high milestone on 24H traded volume!

[Southside]

Anyone checking the Bittrex price after the update tomorrow should be aware of this

NOTICE:We will be performing maintenance to our website and mobile app. This will result in downtime on Thursday, May 25, 5:00 pm UTC - 5:30 pm UTC (10:00 am PDT – 10:30 am PDT)

please do not panic

[Southside]

Not a great month…

Volume is VERY low but someone keeps selling - more experienced traders can tell me if they can possibly make a profit at these prices. I cant see how.

[Freedomist]

"There is crazy potential… but why stop there?

I’ve been in Bitcoin since 2013 and still rarely use it for practical purposes. Hardly anyone uses it regularly, and many people simply aren’t interested.

The Safe Network works well, takes off, and great stuff is built on it, it is something that I’d likely use multiple times a day (e.g. browsing, messaging, payments, backups, gaming etc etc).

The benefits of freedom and self-ownership of data are things that will appeal far beyond the current crypto crowd, so potentially many more users might regularly engage with it & hold SNT.

So, it could be hugely more useful than Bitcoin in people’s everyday lives, as well as appealing to a far larger audience.

It also could be better better money than BTC due to faster, easier transactions, and demand should be more stable over cycles due to demand for data applications & storage constantly increasing vs speculative value being the major driver.

If it’s used more regularly than BTC by a significantly larger number of users, works better as money, is less energy intensive, and has broader utility, it’s not impossible for it to achieve a large multiple of Bitcon’s current market cap in my opinion… though I can’t say how likely it is!

At 10x of BTC’s market cap, Southside could buy Scotland, set it free, AND cover any fiscal deficits that may follow! "

I echo the same sentiment here. These are precisely some of the main keys that intrigued my interest in this project back around 2015iss, and hold the same weight today as much as then, if not more.

[neo]

@Southside

I cant see how.

ping pong trading.

[Southside]

Quantities are so low and the margins thin. By the time you allow for the commission, there cannot be a lot of money to be made.