Not relevant, eMaid and Maid represents the same coin, so they are the same regardless of current supply between the two. Emaid could have around 450 million coins if all Maid was converted, that is the only important thing which makes them represent the same asset, the same supply and market cap.
I understood dewild want to say, that majority of early adopters are in omni, and it will take time to sell his maid, because need to first convert and so on, but correct me if am not right
ExactlyâŚâcould have 450 million IF all maid was convertedââŚ
My point is that it will not be all converted and up for sale before SNT launch.
Yes but you said
Which is false as Emaid is a representation of Maid then Maid total supply x price gives market cap, around 450 million times price.
As with Bitcoin current 19,646,481 is in play when calculating market cap, regardless if 20-25% or so of all BTC might be lost and never will move.
Exactly. And I bet there are some privacy oriented folks who are not going to go through any sort of KYC, but just wait for the real network.
And when thinking about buying, one should of course think that eMAID represents SNT as much as MAID. But when there is only 25M eMAID available, and others are buying, there may a bit of a FOMO at play and one might pay what is needed to get at least some.
Then, when the Network is launched and MAID gets converted, there might be a flood of SNT on the market. Or maybe not, difficult to say as so many things affects if folks are willing to sell or not.
Sure, that could be a thing, that would be fun.
There are many things putting me off from switching, but is it also a taxable event to switch any coin in the uk?
It should not be as they represent the same asset and remember reading about it, even if canât say for all jurisdictions.
There is indeed a difference, with USDT being the more expensive swap. I opened 3 browsers to simultaneously check if network price does affect it.
100 million
Edited for fun
In that case, use a limit order with 0 fee in 1inch:
https://app.1inch.io/#/1/advanced/limit-order/eMAID/USDT
Privacy. Security. Freedom
I remember this too and is one of the best examples of rebranding I am aware of. NEO was being shilled by YouTubers all over at the time.
The biggest difference I see is we have the ability to run on everyoneâs devices, while also providing them with personal assistants.
https://bitcoinmagazine.com/business/antshares-rebrands-introduces-neo-and-new-smart-economy1
I presume at some stage Maidsafe will need to ask HitBTC to delist MAID in order to facilitate MAID â SNT conversion onto the network at particular blockheight. Iâm not sure how such will be done for eMAID as itâs decentralized. But I wonder if it might be better to delist on HitBTC ASAP, as itâs just going to cause confusion for noobs.
OTOH, better to wait until launch and then HitBTC can just switch from MAID to SNT?
Thoughts?
That is not regulated market so it needs more educated users.
I think the roadmap might provide clarity on this later today. Personally I donât think âsigningâ as conversion method will work. As you said, emaid has decentralized trading, which cannot be stopped. Snapshotting at a certain height will probably do the trick, but then youâd have the issue that users that are not fully in the know might still buy tokens that are useles afterwards. On exchanges, DEX or just P2P. Besides, I think the wave of new users coming into the market now doesnât have sufficient knowledge to sign a message. Iâd hate to see them hold off on buying into the project, just because there is a knowledge barrier for them. Iâd make the converting process as easy as possible.
If we can have exchanges support the conversion process it might be a whole different story. But then youâd need a legitimate exchange for MAID, which I donât think is going to happen.
Snapshots are the best method we have so far. Ive seen token version changes utilizing this several times. Yes, there are some who will buy after the token is dead, thinking theyre getting a great deal after most of the liquidity is gone. However:
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Most of these people are only spending a small amount of money to get a ton of cheap tokens
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By far the bigger problem is people knowing the liquidity is pulled, and trying to scam new tokens from the project. Its not really a problem of course, since its easily verified if they bought after the snapshot. But it doesnt stop dozens of them from trying.
Signing will work if a snapshot is used, as itâs a way of proving you owned an eMAID balance at the time of any snapshot.
A burn process would be less messy, as there wouldnât be unfortunate trading of worthless assets post-snapshot, but obviously it has a fee⌠maybe this should be an option thatâs recommended/enforced for those with larger balances, and signing only an option for smaller balances to ensure inclusion if ETH fees are high?
Though there are issues with a snapshot, given that the current community is small, and messaging to future eMAID holders can be deliberate & clear from now on, any plan for a snapshot can be very clearly communicated. Only some who do zero due diligence on seeing eMAID tank after the snapshot would be stung.
Itâll be interesting to see what the plan is as itâs communicated.
I donât think that would be an issue. If someone is capable of holding tokens in their own wallet (not on an exchange), then signing a message is a miniscule learning curve, even if itâs an unfamiliar concept.
That and also plenty of announcements that MAID and (e)MAID will be snap shotted on such n such a date/time and most seasoned people will definitely know and then people being told about Safe will also be told they need the network token.
As mentioned above there will be the scammers, but with a month or few of announcements then hopefully newer people will come across them while finding out about Safe.
And of those who get caught, unfortunate but its a case of a few lose typically small amounts by being scammed or the costs to those who would have to transfer their (e)MAID to a burn address.
Guess Maidsafe will have to do good announcements in the right places and then we all tell anyone who inquires about getting network tokens.