MaidSafeCoin (MAID) - Price & Trading topic (Part 1)

Aaaand Poloniex is completely dead to me now.

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@Audity By which you mean they froze your account? They just did the same to me. On Sunday. No warning, no email, no grace period. They just did it.

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I made the same mistake! But I hodl maid!

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I’m holding for now, but as soon as the network goes live, I’ll be spending as much as it takes to secure all my data, and then farming to replace as much of that as possible. IMO, the best way of selfishly ensuring the price goes up is by unselfishly spending/using it.

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Exactly! When filling it out it made me even more confident that it should be no problem to recover. I thought nice they probably have some script behind it. It’ll fill out the values and someone is gonna look at it before pressing recover. :joy: Well, shit happens. Lesson learned.

+1

Who keeps making those big red candles on polo? You’d think they were deliberately trying to keep the price in check for some reason.

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Probably the same person making those big green candles.

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Polo’s apparently frozen unverified accounts

@Audity @anon28980808

Yeah, this is what they proclaimed in December:

https://poloniex.com/press-releases/2017.12.27-Notice-to-legacy-account-holders/

Just a couple of quotes:

The exact date for this deadline will be announced in Q1 2018. While you will be given advance notice before this requirement goes into effect…

Of course, no deadline was announced and no advance notice was given to us…

And, even funnier one:

On the date of the deadline, legacy accounts will be placed in a state where:

blablablablabla… and…

Withdrawals will remain enabled at the daily withdrawal limits prior to the deadline.

Obviously, they did us in.

Funny enough, to my ticket in which I pointed out they kept none of their promises and they sent me no advance notice, they replied by sending me the notice :thinking: No advance notice obviously, but a notice nonetheless.

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Have bought the last time on thursday at poloniex. After that I withdrew all my funds. I was afraid exact of that scenario which @anon28980808 has desribed will happen.

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Luckily I only have 85 MAID in there and .0016 BTC. …And my 2400 mis-sent MAID that they’re obviously keeping until it’s $1000 per coin. I hope they enjoy their 2 and a half million dollars in 2020+.

ahhhhh my account is frozen :sob:

Logged in and found mine too was frozen but got it verified pretty quickly and now open again!

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Exactly, if you don’t intend to follow KYC laws then don’t use centralized exchanges who have to obey them hah. Glad you got verified and back in action though. I will continue using centralized exchanges until we have one that functions on the SAFE Network that will become the honey badger of all crypto exchanges, letting people move coins and buy and sell as crypto was meant to be!

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In the case of Poloniex, many people went unverified because they resided in a state that Poloniex did not allow accounts from. Even if they were perfectly willing to submit to KYC, that KYC would have disqualified them from using Poloniex. Now all those people from those states must flee Poloniex and find another exchange to buy/sell MAID.

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In cases like that I would say that is a risk a consumer was willing to take if they knew their state was anti-crypto. Polo would also be to blame though as they should have never allowed unverified users in the first place(which put them in this bad spot). People can argue how decentralized is so much better but until a really easy to use popular one is out and has mega low fees and good volume centralized exchanges will be the place to be and dominate the exchange market.

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Opportunities for those who are late to the party yet are of ways and means to suppress the price till they’ve acquired as much as they will, IMO.

I agree. Not only maid too, the whole crypto space (but only the decent tech). The cream looks like it might be floating to the top eventually.

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Partly technical question here. Maybe someone knows where an answer is on the forum if it’s been discussed already.

Basically, I’m interested in the mechanism of safecoin pricing vs cost of storage. I envision an issue with a coded mechanism in the network that prices storage in safecoin while demand for safecoin drives the fiat price into ranges that could make the relative price of storage ridiculously high…if the mechanism for cost of storage in safecoin terms is not somehow a function of not only available storage in the network, but of prices in the fiat economy or demand in the Dapp economy. Maybe I’m just not up-to-date on it, but I see this 2-3 sided demand for the coin causing havoc or some situation that doesn’t really optimize equilibrium.

How to say it simpler? The network prices 1GB of storage at 10 safecoin today based on the amount of storage in the network, which is constant for this thought experiment. Today each safecoin costs 1 cent, so it would be 10 cents for 1GB, but if demand for safecoin increases 100x, then it’s now $10 for a GB if the algorithm only takes safe to the network into effect. What’s the solution in layman’s terms?

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