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

Live Analysis of $MAID KrownsCryptoCave

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I’m totally in same position, unfortunately just a pauper here not some dollar millionaire like quite a few. Still my whole belief behind maid kind of rests on the idea that I lost out on BTC because too much a hassle to buy when IIRC it was 3 dollar a pop think 2009. Anyway not into the whole crypt world complete novice but happy to take bit of risk with maid just to hedge my emotions if nothing else :stuck_out_tongue:

So all this talk of paper wallets keys phrases is honestly so past the average layman (or maybe I’m just bit slow).

Writing this I really know I must do something to store of the exchange. Think Polo is quite expensive… Haven’t worked fully out but would a cost of about 50-70 dollars cover a test of removing coins to paper/ Omni then sending back then out again sound right?

Here’s hoping for layman safe friendly ā€œcryptoā€ that your grandad can use easilyšŸ’Ŗ

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Next target of $0.25 suits me. :grin:

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I, like you don’t really have a clue about most of the things they talk about on here, but I have a family member who is a software developer and it was him who told me about this,I buy my MAID from bittrex and just move them over to OMNIWALLET and keep them in that,according to him its as safe a place as any to keep them until i need them. Don’t really know if that’s the BEST way but so far it seems to be doing fine for me.

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That is a great way to do it. Just make sure your OMNI keys/recovery phrase are safely stored and you’re all good. Also remember you need enough BTC to cover a transaction at your OMNI address to actually move it.

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It seems like a lot of people have forgotten about MAID, but I think they are overdue a reminder! :wink:

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Ye, i put £50 worth of BTC
in it a few months ago to cover my withdrawal fees, even that has increased in value :slight_smile:

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I have been asked by noobs recently how much should be left. I have no idea.

From a pure 100% all in on maidsafe I said leave you bitcoin balance at 0.

I recommend they leave 100 MAIDSAFE on Poloniex, sell them for bitcoin when the time comes and send the bitcoin to the maidsafe address.

I’m counting on the bitcoin price of maid to rocket when the time comes.

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No idea, we could see pretty wild network fees. I put in enough to pay a fee of ~1000 sat/byte (which would have worked even at the peak) (about $40 at current price)… if you send the btc to omni to then remove the maid, you have to pay 2 fees. Depends on how many MAID you have, but I have enough that the peace of mind that I can move it whenever I want was worth it.

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it’s been a while… here we go.

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Who says that you need to risk all your maidsafecoin to one single paper wallet? Split it into manageable positions. How much are you willing to risk? $1000? Then put $1000 into each paper wallet. When you transfer out, you can at most lose $1000 at once. Adjust your positions according to expected future price increase if you prefer.

You can generate bulk paper wallets using https://www.bitaddress.org and spread your maid across multiple private keys that way. No reason to limit yourself to one paper wallet.

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I recommend buying a RasPi (or other computer that will never be online) and downloading the https://www.bitaddress.org generator to use 100% offline.

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or just put a linux mint on a flash drive along with bitaddress and boot from the flash drive…

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I just looked at my 3 year old bunch of memo cards with handwritten BTC addresses and secret keys on them and don’t remember for certain which of those I have used.

The hardware AES encrypted USB stick with hardware pin keypad has a bootable TailsOS. If I upgrade my MacBook will it still boot? What if the internal battery fails to recharge?

It was a terrifying experience for a moment. Anyway, I guess I will write a detailed letter to my future self, or to surviving family.

MaidSafe could start a secure MAID repository service as a side business.

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IIRC something like one-third of all bitcoin are lost forever because people have lost their keys - and that’s just in 10 years, worse, most of those keys lost were probably lost in the last three. If SAFE works as planned that should mitigate things a great deal, although key-loggers are still a threat, but it’s a business opportunity staring us in the face.

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The Lattice1 by Grid+ looked like it might be a promising SAFE client machine, but I didn’t investigate too deeply yet.
Regarding paper wallets, for what it’s worth, Andreas Antonopoulos says they are obsolete and that it is safer to use mnemonics.

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Why would you avoid KYC at all cost ?

Some people have privacy concerns. If you give that info to a non reputable exchange (or even a reputable one that gets hacked) they at least have step 1 of identity theft complete. Personally I feel its a necessary risk if you want to trade these days, as every exchange that wants to stay in business has to do KYC. On one hand it’s good not to have all your eggs in one basket, but on the other hand doing KYC in 10 places increases the risk you gave your ID to a nefarious group.

What might solve this is a truly decentralized exchange (not binanace style where it’s IOU tokens and you have to go though the central exchange to redeem them but a truly decentralized one where you control the keys to real coins)

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Where taxes you winning trades and doesn’t offset losing trades?