In first years of bitcoin there are also many sectants, but now they are genious and millionaries…
Funny he had a structured thinking about the sect argument:
Cult of personality to our dear leader David
Religious Faith in unproven tech
Congregation separated from the rest of the world on a forum with own rules and censorship.
Suicidal tendencies ( as we are disregarding the price dynamics)
I mined Bitcoin when they weren’t even 1c. I was gifted XRP for posting on a forum when they were worth even less. Very few took them projects seriously and now everyone seems to be piling on those bandwagons as part of a perceived balanced portfolio!
I have always chosen to go with my brain and my gut, often choosing to swim against the current instead of with it. Why? Because when everyone else realises where the tide is headed, I’m already a good few lengths ahead. You win by not being the strongest swimmer, chasing the current, but by predicting where and when the current will change and aiming for that.
Of course, we all want maidsafecoin to stay relevant, but there is nothing out there that comes close to the ambition and skill of this team. I remain utterly convinced that the technology will not only be delivered in due course, but it will also be astonishingly useful.
The community support since Christmas has been a pleasure to witness. It may look sect like to those who do not understand it, but they must surely wonder why we are so supportive and contrarian. With a falling crypto market, it will be a lot tougher to make a quick buck on an ICO. Tougher questions will be asked and many found wanting.
As someone else elegantly put it - maidsafecoin is the true HODL!
Disclaimer: ofc, I took part in the maidsafecoin ICO too! 
15 Likes
I am part of the sect and happy with it.
My whole point was about general perception of our project.
4 Likes
simply not true - there are many capable personalities here -but yes david has many good ideas 
(as has linus … is the linux ecosystem a sect too? just an honest question)
not true either … it’s based on dht-technology … as torrents work … just combined in a new way and with some addons that make it more powerful
…
yeah - can’t say anything about that 
but seems a little bit over the top to me ;D
ps: but cool that there ARE arguments behind it and its not just a random opinion
3 Likes
My point was that, at this juncture, there are no crypto projects that are successful. Not any. Not even one. I think people forget that because so many have risen in value, but that value raise is not related in any way with whether the project achieved it’s final design goal and is generating non-speculative value to somebody.
I also take issue with your evaluation that SAFE is far from being a successful project. I’d put it’s probable release of a scalable solution ahead of any other project.
6 Likes
What do you think of those points?
I’d say this reflects his lack of real understanding. Those points are superficially believable if you want to take a negative view, but I don’t think any of them stand up to scrutiny.
7 Likes
It’s not about whether he is right or wrong. I do believe he is wrong. It’s me trying to explain how we ended up delisted and threatened to drop off the top 100.
I think it’s a big deal because it provides less ressources for maidsafe, and less appeal for potential developers
6 Likes
The fallout from this FISA memo will have people screaming to fix the internet. People looking for solutions will start to stumble onto SAFE. Just making easy money in crypto will become a thing of the past when the majority of the population that didn’t really understand what was going on come to a certain realization about reality. Blockchains built on top of a corrupt and insecure clearnet won’t be so interesting to many.
1 Like
I don’t understand, why?
- MaidSafe seem confident they have the resources they need
- MAID is still much higher in value than it was a few months ago, regardless of it’s position relative to other coins - and we know it is much more stable.
3 Likes
xD sorry obviously a fanatic here Oo … obviously got a little bit cought in those statements that seem just ridiculous to me 
hmhmmm - you’re probably on something with the perception part 
… or something should happen that makes the world understand what this project means for mankind … besides safecoin bitcoin will look like the well-behaved and a little bit slow brother Oo … (just ignoring the other things that come with safe…)
[not sounding crazy at all now xD ]
2 Likes
So far so good.
-
But what if developments take more time than expected and we do need resources later on.
Will we be able to run another bank to the future round. -
What if we drop much lower than where we stand now ?
Just because we are fine now does not mean we should try to prevent further collapse and plan for the unexpected
This would be very useful - for him and also the marketing team so they understand some of the hurdles.
4 Likes
I think another reason that Livecoin will delist MaidSafeCoin is maybe ‘maintenance’-issues concerning the less used Omni Protocol layer? But maybe someone should ask them the reason of the delisting.
What is not clear to me: is Tether at this moment using the Omni Protocol on Bitcoin or on Litecoin? Because according to its Wikipedia article it has switched to Litecoin.
And if that is the case, is that an option for MaidSafecoin?
EDIT: after some research on http://www.omnilayer.org/ and here I’m pretty sure Tether/Omni is still only on the Bitcoin and not the Litecoin blockchain. Maybe in the future that will change, if there is a future for Tether of course.
3 Likes
SAFENetwork really is the only technology in the space which isn’t blockchain or blockchain derivative based. It is the contrarian choice for the investor who is interested in a whole new product, not just another flavour of an existing one.
A wise investor should be looking beyond the blockchain for really big gains. Is it something they can afford to overlook?
5 Likes
It doesn’t sound like Maidsafe is concerned about needing additional or running out of funding (so the former argument is a bit of a non sequitur).
As to the latter argument, I think it is technological performance, more so than price performance, that will attract developers. I mean, if you’re building something do you say “I need the most expensive tools money can buy,” or do you say “I need the most efficient and reliable tools available”? Oftentimes technological and price performance are positively correlated, but this early in the game, what’s most important is building the tech and spreading the news, I think.
3 Likes
Yes the perception by those not willing to find out about SAFE and its easier to just say that their investment will drop by 10 times.
How many coins have mining where only a portion of the coins exist at release? Its similar to that
But SAFE has a big advantage. Those new coins will only come into existence as the network grows. You need people using the network for there to be a substantial increase in coins.
tl;dr
new coins come into existence as the network is used and thus growing.
As the network grows, more people need coins
New coin is generated in line with growth
So there is not going to be deflation
Also recycling resists coin growth as network grows.
So actually the value of existing coins will grow not diminish.
I only see this working from a money making point of view. The network would be very much limited if only 90 million coins available for potentially millions of vaults in the future.
The answer to that is name me the ones that don’t have those things and I’ll show you the exceptions to the rule.
Definitely is.
What I don’t completely grasp is why the market cap of MAID is seen as being of utmost importance to the success of the project. The dev team don’t get any more money for it to help the project. (The relatively small amount of MAID the company holds is affected obviously)
Is it just the emotional boost the team gets? Or potential partners? Mind you they don’t go for partners much.
So why is the price considered of utmost importance for the success of the project?
4 Likes
I agree, if things start getting tough then this would be a big deal, or rather something we would need to address. But right now it isn’t and there’s no reason to think it will be - in fact the opposite.
Things could just as easily go the other way, and while David has proven to be a bit optimistic about how much is left to do, I do have a sense of where we are that leads to think things are coming together.
Your comments look to me like emotional responses to short term trends in superficial metrics (relative rankings) when actually, as I pointed out, the value of MAID has risen substantially in recent months. Maybe that’s wrong, but it seems to fit because fear responses make us susceptible to negative messages, however baseless, such as those from your VC. You seem to agree the comments you quoted are without merit, if only in retrospect, while still saying they are a big deal to you.
Saying that you are a part of the sect suggests you believe in the values of the project rather than putting its financial value first. I’m not convinced the success of the project, by which I mean meeting it’s goals, is your primary concern, especially when I imagine that you have clients chomping at the bit for big gains in MAID having invested on your advice. Of course you have different motivations, and I think your posts reflect that. Just my best guess course - and not saying there’s anything wrong with that. I think it gives context.
3 Likes
The foundation has these “reserves” and the company has no call on it. UK law prevents improper use of a charities money.
I do not know of any employee paid in MAID. Some may receive a small portion in MAID, but the company doesn’t have that sort of holding to pay their employees in MAID.
I think many run with assumptions and then make further assumptions based on those.
Definitely, but isn’t this only a minor impact on the project’s success to release.
That is the charities reserves which is over the million. The company does not have those reserves that some think they have
1 Like
I was about to bring up this thing too.
Not that I think anything negatively about it @SwissPrivateBanker, on the contrary, you are promoting the project and I think it’s awesome that you are here and contributing in your way, but it gives context. I can see how current trends feels more for you than for many others, and not only financially, but because you have recommended and sold this project.
Edit: But, I mean, I don’t necessarily consider that weighing against your arguments, because I think you make good observations, and the triggers for new ideas can come from anything and any motivation.
5 Likes