We closed the old topic because it was filled with random investors from around the globe. As we stated in this Forum Update:
Let us be clear: we have nothing against traders and/or price speculation. But we’ve seen people come in here to talk prices without even knowing what this project is about and without taking part in any other discussion. The price topic is meant for community members that want to talk price as well.
The #safecoin:price category is limited to trust level 1 users. So new users can’t directly talk prices, they have to be around for a short while and earn a certain amount of trust. So keep that in mind and please Flag replies when they’re not in line with our guidelines.
MaidSafeCoin is currently in the top 10 of cryptoprojects on CoinMarketCap. MAID is trading around 7 cents USD at the moment of writing.
I have an order open in MAID - the 98 BTC at .000098. That buywall is not fake and won’t drop between now and the 24th, since I’m hoping it fills before we go mewn
Wanted to let the other maid bulls know my intention in case it effected anyone’s entry position (if you don’t already have one).
Too hard to predict price action on the 24th. Hopefully the order fills before then! But if it doesn’t, I’ll have to reevaluate my position on the 24th depending on markets. Also, if MAID turns very bullish, I may move the wall up.
If I’m right, Factom already started moving up a few days before Yuanbao started trading. Which makes sense if you’re buying some trading stash to sell higher in China. Deposits on Yuanbao were possible 4 days before the trading started. I have a guts feeling we’re seeing the same thing happening now also. Maid on Poloniex is slowly but steadily crawling up. I’ll keep my fingers crossed for you.
Uhmm… Arbitrage is the simultaneous purchase and sale of an asset to profit from a difference in the price. So I’m not sure what a price drop in bitcoin has to do with Maid (arbitrage) trading between ‘here’ and ‘there’?
I’m suggesting that as the price of bitcoin in USD/GBP falls, the price of MaidSafecoin in BTC would rise by the equivalent amount - due to arbitrage.
It makes no sense for bitcoin to drop in fiat price, and as a result for MaidSafecoin to remain at the same BTC price (and therefore become cheaper in fiat), unless the two were being equally affected by the same market factors. Correcting that discrepancy is arbitrage.
I think much of the recent fall in MaidSafecoin BTC price was in the same inverse relationship to the recent rises in bitcoin.
Right, I didn’t know that was called arbitrage too. I’ve always thought arbitrage is possible with one product only, on multiple markets. In this case Maid, to be bought on Poloniex, and to be sold (almost) simultaneously on Yuanbao. In general, arbitrage is considered a rather riskfree trade transaction.
That’s exactly what I was suggesting. Arbitrage is trading on price differences at a point in time - now you can think of price as always in USD on two different exchanges, or in different assets or currencies, that are traded at different equivalent prices on the same or different exchanges. Maybe there are more specific terms for more complex transactions, but it boils down to arbitrage trading.
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