Bitcoin could potentially double or even treble in price but safecoin could easily increase 10 fold if it gets the same network effect. Its understandable people are dumping atm with what going on in the chinese bitcoin exchanges but in the long term safecoin will hopefully prove to be a wise investment, I would choose buying maid now as a long term play over any other altcoin.
Better late than never. 8d ago when I mentioned the seller(s) may have tens of millions more, you were still upbeat.
Now we’re little over 3.5 BTC away from 2xxx and it should be clear that very few (if any) of the remaining buyers are those who shorted MAID. The price was brought down by dumpers, not those who shorted. Those who thought “speculators” where shorting MAID also tended to think there will be a quick rebound. But because they have been simply moving (part of) their holdings into BTC the chance of rebound has been low. They don’t really care how much they get for their MAID, and they don’t need to buy it back.
Price will likely remain volatile until Masterexchange closes on Nov 15th. We’re probably looking at 1-2 more weeks of volatility. Probably a very good last chance to buy low.
I think the dumping is unrelated to the closing of MaterXchange, but we’ll see.
About your value call, I was just going to post a separate topic but since you proposed that I can ask my question here:right now I can buy about 40K MAID with one BTC, or approximately 400/40GB or $10 per GB. That is still more expensive than a high end commercial hosting service would change for data storage. I can name scenarios in which Safe is a better deal, but also those in which it is not, at this price; “on average”, if there was an average user, it is still not unbeatable proposition but it is suitable for carefully selected use cases.
In order for Safe to remain competitive the price should not recover, including the fiat price of BTC.
The initial price of 1 SafeCoin per MB is only a starting point and will rapidly change once the network starts running. It’s not a peg. I’m pretty sure at day 2 of the network you’ll at least get 100 MB per SafeCoin, and perhaps even several GB after the first week.
Are you saying given a choice, limited budget (say, $400) you think a person focused on ROI should at this price point rather buy and hold MAID than become a farmer?
Come on, man, just 24 hours ago when I said I thought the price was too volatile and I exited MAID, you criticized my cowardice.
I documented, argumented and shared with the community (in comments above) all my expectations for MAID price moves since 7000 and even posted results of hours of (simple) research I did on the dumping whale.
The guy (janitor) admitted he sold all the coins and probably wants a very cheap entry point. Don’t expect him to be bias free. Why is he still here if he sold out already? Why is he so interested in the price? Bad, bad janitor.
Yes, I think it’s smarter to buy MAID now and farm with the hardware you already have. In the end it is appreciation of SafeCoin that will create ROI. I think that if you immediately sell what you farm, you’ll roughly break even or even make a loss, similar to mining BTC. So farming profit is also dependent on price appreciation.
Trader tip #1: Don’t expect anyone here to be unbiased.
Seriously, most people in ‘threads like these’ (not saying the people in this particular thread) are in these threads to influence or convince other holders/traders with their ‘knowledge’.
I declared my positions almost immediately after I entered and exited them, which except for Fox and maybe 1-2 other guys no other person did.
As I said yesterday it turns I am the only guy who’s sold, while most said they were happy to hold and add. Anyone could have followed my moves.
Being long is not a condition of participating, let me know if the rules changed!
If nobody sells, how are people going to buy MAID? (Besides I had less than 100K, which makes me completely irrelevant to the price of MAID). The core principle of our future SAFE currency is that farmers will not hoard, but sell earned Safecoins!
Among other things, as you can see from my query about $/GB above, I am trying to figure out if I should buy MAID or focus on farming instead on trading.
