Talking about a thin market⌠9 btc to blow eMAID thru the roof Merry Christmas to Everyone
At what price do we call it âsky highâ?
Anything above Filecoin highest market cap is my reference. Aything Filecoin could accomplish, we can do better.
Taking both Filecoinâs and Maidsafeâs total coin supplies that would mean MAID can go x500 â $80
there is 4.2billion safecoinâŚ
Incorrect, this is the maximum number of tokens possible - but whether there will ever be all of them at once is another matter.
While itâs certain that 99.99% of humanity doesnât have a MAID right now, so $80 is the low possible value of the token.
Privacy. Security. Freedom
Filecoin market cap $ 2,7 billion.
SNT at launch aprox 1,5 billion
2,7/1,5 = $1,8 per SNT, if SNT matches Filecoin market cap at launch.
Instead if only maid/emaid supply on launch then
aprox 450 million current supply
2,7/0,45 = $6 per Maid/eMaid, if with current supply Maid would match Filecoin market cap at launch.
That early investors only consists of 33% of SNT supply at launch is punishing. It would be good with a low supply at the beginning so that early investors would have a year or two to get out of the market. Or that early investors got a larger % of SNT launch supply by example get 2 SNT per Maid/eMaid. 1,5 billion supply at launch does not seem fair to early investors who will get severely diluted when SNT launch.
Everyone knew the rules before investing
Just because you know about the rules in advance does not make them more fair. There could still be change, if there is a will then there is a way. Still hope for a change to a more fair distribution at launch.
How are they not fair? Expecting the rules to be changed seems more unfair.
A post was merged into an existing topic: OTC trading
Thank you for sharing this information. I was considering a modest investment in the maid, but given the substantial 1.5 billion supply at launch, Iâve decided to exercise caution and step away. Early investors may ruthlessly sell off, leaving those who buy now vulnerable to significant losses. Not sure how we can see $80/token as some people project.
None of that makes sense to me. Early investors will only sell after this long if the price has increased. Buying now is good if the price donât rise too quickly because the real rise will be when others decide to buy in on results.
Also, 1.5bn?
Where did this mysterious 1.5 billion suddenly arrive from?
Since crowd sale if I remember correctly.
Basically, currently 10% of eventual max supply supply is in MAID/eMAID. On launch, I think an additional 20% are minted to early investors / team / foundation, or some combo of these (canât find the figures from a quick search).
Max supply is something like 4.3bn, so 30% of this is around 1.3bn⌠close enough to 1.5bn I guess
Edit:
Nope, I was wrong, sorry. Just checked in the FAQs here: Safe Network, and then looked at RFC 61.
So, itâs 15% of total supply at launch / conversion; 10% MAID/eMAID and 5% early investors, with 15% in a âroyalties poolâ for ecosystem development, which I expect could likely enter circulation over the first couple of years, assuming royalties from the upload fees are not sufficient.
70% possibly to be released eventually in a way that I think is still undetermined.
I think the best info is in this RFC: rfcs/text/0061-safe-network-token-distribution/0061-safe-network-token-distribution.md at JimCollinson-rfcs ¡ maidsafe/rfcs ¡ GitHub
$80 is quite high but not impossible. It all depends on the current supply, how high the mining rate is when network goes live and the demand. Safe Networkâs technology easily completes with FileCoin and most likely leaves it behind in the dust!
Backers
âTo allow distributed ownership of the network, MaidSafe will allocate 30% of the tokens on day 1. The coins allocated are fungible, particularly in the form of resources as backers reach their required returns or simply trade the coins. This allocation of safecoin will allow two separate entities to be rewarded:â
Maid = 30% on day 1 at launch
30% * 3,3 = aprox 100 %
Maid = aprox 450
450 * 3,3 = 1480 = aprox 1,5 billion at launch. initial investors gets diluted aprox 3 x on day 1 or 200%
What am I missing @happybeing @Josh @DavidMc0 how is it possible that you donât you know that Maid only represents 30 of supply at launch, that early investors will be diluted aprox 200% at launch?
Yes, but I assume the royalties pool is likely not to all be spent day 1, so not be in circulation.
In addition, the shareholder 5% will be released in 3 installments throughout the first year.
So, depending on the rate the foundation uses the royalties pool, between 15 and 30% will be in circulation within 12 months of the network launch, plus anything minted / farmed / distributed from the 70% pool, if it comes into play.
Just some thoughts on the royalties pool; itâs clearly a good idea to have a decent sized chunk of SNT to promote ecosystem development including core software, apps etc, but at current prices the royalties pool of 678,828,618 tokens would be worth about $125m, which seems pretty chunky to me.
If, by launch, hype & demand were to take MAID to $1.50, that pool would be worth just over $1bn.
Does that seem excessive, or a brilliant resource to give development a massive boost in the early days (and perhaps, the not so early days)?
And, I wonder what measures would be taken to ensure the funds arenât spent too fast as to dump the price? E.g. would there be a floor price for royalties pool sales, e.g. $1 / something that goes up over time?