Yeah maybe ERC20 could be a final decision if exchanges can’t be found to accept Omni. (Big if, though, since it’s only day 2 in search for a good one for the current Omni token.)
edit after 3 Likes: Only other way would be if many people know for sure that the conversion would bring good things to MAID—but Effort focused on Fleming seems to override that benefit, among any other arguments.
I definitely see what @happybeing is getting at. There is no assurance of liquidity from doing an erc20 token. The issue with losing polo is not that it was the last place you CAN trade MAID, but rather its the last place people DO trade MAID.
It’s kinda a chicken-egg problem. I would go provide liquidity on trex if other people were to. If we all say “you first” no one ever moves though.
We should not need too, maidsafe can and should be the primary market maker on bittrex at this point, community members buying it up will help though.
Well I’m moving my Maid to Bittrex.
There you go.
I suggested in the past if the company wants to play the crypto game then actually play it. They don’t seem much interested in that though. They just want to sell some every few months or so and extend the runway finitely. Trading entails some risk but I do think they could extend the runway indefinitely if they just got on the buy side sometimes and flipped some instead of just taking another scoop out of the bucket until its empty
Im not a proponent of them playing the trading game. Just providing liquidity by selling at market price when they need funding.
@jeremyjpj0916 @goindeep we need liquidity on the buy side to! That’s what really stops me from just moving my operations to trex. You gotta be reallly patient so it’s not really viable to daytrade there right now
For those interested - the market is BTC-MAID, so buy side liquidity means BTC
Exactly. If enough members in the community have money they should be able to buy on bittrex, keep volume respectable and keep the price at or above $.10 until MVP or bull market.
I tend to agree. Timeline for Fleming is an important factor and funds to get there. Maybe the cash is already in the bank
Disagree we should buy to artificially hold some particular fiat value. We want the polo market to just move to somewhere else and resume normal operations. Doing what you suggest is kinda akin to just trading OTC. Keep the environment attractive to traders that want to trade. That said go ahead and buy if you think it’s a low price… ''tis how this game is played haha
Quite apart from it clearly being insider trading and therefore morally questionable, it isn’t what the company is setup to do.
So you hire someone not on the inside that is set up for trading to do it for you with the same info the public has.
Andy, why do you persist? You have been banging your head against that wall since you appeared on this forum.
Imho it’s never going to happen.
Trading can go both ways, yes you can make money, you can also lose potential profits from rising prices.
I mean it’s your life, do as you wish, but if things were gonna play put that way, it would have started long ago I think.
I was just responding to e issue of where we can find some liquidity on the remaining markets. Someone was saying Maidsafe could be the market maker we need and I just wanted to point out what we need are buyers for liquidity on that side of the equation to attract traders. I agree it prolly won’t happen. Just sayin maidsafe is not gonna fix the real elephant in the room by selling only.
With all respect, that would be as shady as f**k!
The first time a big MAID buy lands before some good news, the accusations will fly. I suspect exchanges drop MAID in a moment if they had any incling that such a thing was going on too.
Inside trading is illegal.
“Insider trading is not defined or banned under a single U.S. statute. Rather, it is addressed through judicial interpretations of the federal statutory prohibitions on fraud in connection with the purchase or sale of securities or commodities.”
I’ve seen quite a few mention getting on a DEX as the solution to liquidity, but I can tell you guys DEX’s are no where near the liquidity that CEX have. I’m Head of Public Relations at Luxcore myself, and we’re launching Luxgate (DEX) soon. I can definitely have a look and see if we can get you guys listed, but we’d need to look into the following requirements:
OP_CHECKLOCKTIMEVERIFY (CLTV). See BIP-0065 for more information.-txindex feature of Bitcoin Core wallet)createrawtransaction,getrawtransaction, signrawtransaction, fundrawtransaction,sendrawtransaction in Bitcoin Core wallet.listunspent in Bitcoin Coregetnewaddress equivalent)Like I already mentioned, a DEX is not the solution for the liquidity and should function (for now) as an addition to a CEX to provide customers with a safe and KYC-free exchange.
I will continue to get in touch with some of my contacts in the industry to see if there is anything else I can do, will keep you guys posted.
Further to my earlier point about OTC auctions as a further funding possibility, I said I don’t necessarily recommend this approach. I’d like to explain why:
Switching Omni to ERC20 is honestly pretty easy. MaidSafe is an ICO funded project, and ICO issuers necessarily believe in markets - I’m not sure why David describes delisting & ERC20 switch as a distraction. Markets are the only reason the project has continued because David wants or needs a team, and his team only work for a salary. The company was on the point of bankruptcy until the recent loan which bought some runway. We just lost 30% of that runway. Selling the loaned coins, as is the plan, will continue to suppress the price unless buyers increase too, unlikely in current environment. That just leaves the people who made the loan with enough of a vested interest to support which means buying the coins back - which means double funding the project (buy them once, give them back and buy again). There isn’t much point in using exchanges for this process, a monthly auction (potentially even fixed price) would suffice. Keep in mind there is little accountability in a loan, much more in equity.
MaidSafe could issue tokens on Liquid, Stellar and many other platforms fairly easily too, and all in parallel without too much overhead. As many others have said the real issue facing this project is no timelines and a long term lack of product which has worn down the population of interested parties to a small group. If I were David I would launch at least one new token type and get it on to as many exchanges a possible and I would delay work for this because work only continues when fed with money, in the current corporate model.
I don’t know what “big guys would like us dead”, what “William Wallace” has to do with MaidSafe’s situation or why David thinks there are those “who seek to harm us”. MaidSafe is not competing with or undermining anyone else and has no enemies. Poloniex and others delist coins that aren’t making them money anymore or have some legal concerns to them. They are at worst indifferent to MaidSafe - so there is no need to form a belief around a malicious and unseen ‘other’. Why would David be nonchalant on the very practical concerns of the markets yet strident in the construction of a narrative against some unnamed enemy? Also be cautious of his statement that, “We have another couple of options in play, more soon ”. In the old thread about “Funding for MaidSafe” this is exactly the kind of management style I was arguing against and raising awareness of. A few months after I was raising those concerns the massive layoffs, downsizing, and recapitalisation occurred. Things weren’t as in hand as David liked to convey.
I still have these concerns and do not encourage anyone to further finance MaidSafe either through loans, auctions or indirect auctions via exchange order books, unless you are expecting to lose the money. The SAFENetwork idea is a great one and well worth working on and investing in. David and associates deserve credit for trying to enhance the concepts of Kademlia and I hope this work continues but I urge anyone considering further financing to consider the very great risks and instead invest their time or money in the project rather than the company. David has been given many lifelines and also tells us he is fine and in control so I’d imagine he would support my list of recommendations here:
Invest your time and money in:
It pains me to say negative things about MaidSafe and its team as I’d really like the whole story to be a success but I can only see that happening if we allocate recsources to a fully open source movement rather than a company.
Friend, watch your money. People are not stupid. Everyone decides for themselves where to invest their money.