Poloniex trading thread

To add context about MAID/BTC/USD price:

During IPO, BTC was about 475. At 17K MAID per BTC, that comes to .028 per MAID.

Right now, BTC is about 280 and there's about a quarter million MAID available for .015. If you want a million MAID, the price is roughly $.02.

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right, though they were also sold for mastercoin, so now adjust figures the ratio of mastercoin exchanged for maid and bitcoin for maid and then get the actual price issued the day of crowdsale, so it is incomplete to say… therefore there is and has been a flood of mastercoin acquired maid. and what did mastercoin cost.?

Mastercoin (Omni) Mastercoin (Omni) 1,274,461 2.32

and the exchange rate was 1 mastercoin for 3400 maid

so with bitcoin its $280 17K MAID
with mastercoin $11.60 17K MAID

we see the difference? so whales = folks paying not .028 per maid but $0.00068235294 per maid

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For all practical purposes, Mastercoin can be ignored. It can’t be sold in any meaningful quantity (that was a historic opportunity to dump premined MSC and the dumpers made most from it).

I don’t see any difference. I know I paid with BTC and I know what I can get by selling for BTC today. The MSC part shouldn’t be considered at all. Think of the MSC-based MAID issuance as free MAID given to the nice Mastercoin people for helping out with the MAID coin launch, which diluted the BTC investors. End of story.

It’s not necessary to mention MSC because it just adds to the confusion (caused by BTC fluctuations), at least that’s how I look at it (I look at the US$ and BTC price but mostly BTC since we all know that’s the crypto standard and people buying and selling can’t follow prices in US$ because listed coins/tokens are normally denominated in BTC).

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unless we’re talking about today’s prices, how else do you explain what kind of situation brings out the sell below $0.028 in the first place

Who the hell knows? It could be anything.
Last week we had a bunch of Warren Buffett’s selling at a 30% discount over at MasterXchange. Why? Who knows.

I think one important factor for seemingly illogical moves is people do not consider US$ prices. As I just mentioned in the previous comment, I do that less and less myself. Not because I think BTC will survive the US$ (I hope it will) but because it’s too tiresome (considering the relatively small amount of money) so I can’t afford to waste time to constantly evaluate prices in fiat.
It’s quoted in BTC, I buy and sell it BTC. It didn’t work out well when BTC was dropping, now it’s better. In the long term I’ll probably save more time on fiddling around with spreadsheets than I’ll lose due to BTCUSD exchange rate fluctuations.

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From what I see, in the month before IPO, if you bought mastercoin you could have paid around $.015 per MAID.

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By volume, most MSC buyers “paid” shit (i.e. nothing). The fxxxing thing was premined, they just dumped it in exchange for MAID which they then recycled for BTC. Another way was to sell it for BTC up front, to MSC buyers who thought they’d get a better deal buying MAID with MSC.

that’s based on the price at the time or before the crowdsale .07 btc each or around 33 dollars at the time

so it comes down to

$475 17K MAID in bitcoin
$165 per 17K MAID in mastercoin

however that’s impossible because the price on mastercoin is not that. :wink:

Nonetheless, I feel like adding that at least it’s on the way .

My guess is that there are a pretty small group of people who saw this loophole and jumped through it, but unfortunately they got just under 50% of all the coins which are currently available for sale so their effect is disproportionally large. The fact that if they sell for today price ($0.014 per coin) they’d still have a 20x increase on their original stake. The good news is that over time, as they sell their coins and as the pot of total available coins increase, their impact will be diminished.

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regarding my last post I said if you have the cash and want to have some FUN (pay attention to the meaning of those words…

well i think right now based on the loans on polo, someone is taking a loan out of about 300k MAID. Anyway it’s not for everyone, I certainly do not have that kind of cash to play around.

I can assure you though that he/she does not hold a lot of MAID, they hold some other coin which allows them to borrow MAID. No large holder would lower the price intentionally (unless they are irrational and crazy which of course is within the realm of possibilities esp in the crypto crowd), most would engineer a pump in order to sell into it, unless they are trying to acquire more.

regarding the MSC that maidsafe org has, i would recommend that the org sells bout $100/day of them. MSC could probably handle that sort of sell pressure.

anyway you would probably be helping MSC by doing that since it is in the hands of a few holders, and is imho over valued at this moment, so getting it in the hands of more people at a more reasonable price the org would be doing something good.

$100+365 = $36k extra year that you all can use for something.

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They (the MSC gang) not only saw the hole, they designed it.

I have no doubts that they sold all their MAID in weeks after it became tradeable.

As long as MaidSafe does it covertly, it might work okay.

That’s not a lot to have, but it’s a lot to put on crazy ass speculation. He’s been lucky so far and maybe it wasn’t too difficult to guess - since several weeks ago it was clear that Beta won’t come out in 2015 so it is reasonable to expect that some holders could move on.

you can’t use the current omni price to calculate their ipo oruce, cause msc was extremely expensive when maid had crowdsale

ex: you bought a house for 100k usd and now is worh 1 million, you can’t say you spend 1 million because the cerrent price is 1 million, you still spent 100k for the house

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Someone is trying to kill the maid.Any thoughts?

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i dont think they are trying to kill maid…

it’s pretty obvious what is going on here.

there isnt much demand, and not many traders, and there are a ton of coins sitting on that exchange and more coming in. over 1.3M maid are available to loan, some at very cheap interest rates (like 4% apr), so the easy thing to do is to short/dump and wait for someone moving his maid from masterxchange to sell off and pay back the short with 50% discounted MAID coins. he might not even have to wait he cal trigger stop loss orders on MAID as well.

for example at one point in the last hour it looked like over 600k or so MAID had been loaned out as the total available went down to 600k. you dump 300-600k, trigger a stop loss and buy back.

quick way to make some cash

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It’s the same guy over and over again, look at the 3200 satoshi order. He probably has 2 poloniex accounts, with Account A hes going short and Account B dumps maidsafecoin and provides the loan to Account A. When someone else is selling its profit for him.

anyway this is going to continue until there are actual people that want to buy the coin.

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Nice try Dominik Z to get people sell into your 3200 satoshi buy wall.

They are trying to scare :slight_smile: In any case, I wish you all to be brave! We will defeat the forces of evil!

Yes, stop worrying about the short term value of MAID. If it’s low, see it as an opportunity to buy some more if you can afford it. Don’t even consider selling until Q3 2016. Daytrading is a zero-sum game, at some point you’re going to get burned.

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