Why is Safecoin price crashing like a rock?

Melody of the day, with sexual undertones:

Well, its not investing to trade i MAID. Its more like betting in an online casino. To many unknowns to call it investment. No set release date. No test net where you can confirm that it works. No detail data on how the coin will work. Its an idea but ist very weak and in an traditionally sense uninvestable at the moment.

there is someone else who put up the walls that i ate through on the way down when i switched from long to short (i accidentally sold more than i intended lol), then i think that person put up some big sell walls in the 50s


then i think the person that did tx of 2M to polo started to dump, then i closed my short position

from what i saw there isn’t much sell resistance
 the price can be manipulated very easily 
 its just that at this moment there are a lot of holders who can sell and there is no evangelism / PR to bring in demand, but as soon as that demand appears the price would go up at least 3X

just my opinion

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Well, no I have never owned any MAID. But are you aware of prophetx that you are admitting to a crime? In some states, for incstance Sweden, price manipulation like what youre now saying you did is illegal. In Sweden its also illegal to make false information posts that are supposed to influende market price. Be wary on your local laws before going all crazy is my advice. And dont visit sweden without wondering if you will be arrested when crossing the border from now on prophetx :slight_smile:

The crime falls under “allmĂ€nt Ă„tal” wich means the state will prosecute on its own without anyone person raising the issue.

But like I said, MAID is not an investment under any normal investment rules. And also when it comes to digital coins whatis needed is actually a coin that is less of an investment and more of a medium for trade. Stability in value would come as a direct effect of being a carrier of much trade and being less of a investment commodity. Given that there is zero trade being done where MAID is used as a medium and that there are immense unknowns ofcource MAID is extremely volatile. MAID should for now be considered like playing in an casino not as an investment.

:oncoming_police_car:
The cops are on their way!

Fxxx the State!
What he did is perfectly legal on Polo. And also, Polo isn’t in Sweden.
(In Sweden the top criminal, currency volumes-wise, is of course the state-sponsored central bank Riksbank which is shamelessly plundering savers and actively working on the elimination of cash, which will remove the last line of defense for those who don’t want to play in the official Ponzi economy.)

I largely agree with the rest of your post (and the previous one as well). That’s why speculating in crypto is fun.

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Yeah ofcourse, I got time. But please don’t see me as a know it all or investment advisor. I think you’ll find the real answer if you should invest in Maidsafecoin if you ask the question: How much money does it cost to run (computing & storage) the current internet now? This is with security issues (hacks/ddos etc) excluded, because we won’t have those issues on the SAFE Network.

What should be the real wake up question is: What will it cost to run the IOT on the current internet, in comparison to the SAFE Network? There are over 3 billion people online right now. More important, how many IOT devices will be online in 10 years? Will these devices really stay on the current internet to get hacked? If you read this Techcrunch article about IOT, you might get a hunch why the SAFE Network and it’s fuel SAFEcoin is no joke. This reads that there will be 25 Billion things online in 2020. Think about the headache CEO’s of tech companies will have if they keep these devices on the current internet. :stuck_out_tongue:

Also never forget that if your currency is not backed by anything it’s worthless (Hello fiat). The current insecure internet is a trillion dollar company, due to all the things that run on it. Well if that’s done over again but secured, with it’s own currency, how much would that be worth?

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Beware, @janitor is forgetting that there will be a period during which you will need to either sell your coins, or convert them to Safecoin on SAFEnetwork. There will be a cutoff point when you can no longer do that, after which any remaining MaidSafecoinv will become worthless.

So anyone holding MaidSafecoin needs to check the project status at least once per month until this happens.

Who made that rule and when?

(And by the way my scenario does cover that - I said the coins would be there but maybe worthless.)

It was discussed on the forum some time ago, and that’s the suggestion which I believe was made by @dirvine. I don’t know if it is documented anywhere else, but


Do you expect MaidSafecoin would be convertible to Safecoin forever?

It’d better be documented somewhere.

I just wasn’t aware of the expiration rule.
We’ll see what others say, but I think this might be news to others too.

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It’s not really relevant to annouce this already. Of course it’s important for others too, but we can expect that this will be written all over the place when conversion is possible.

Just last week some of you were saying how MasterXchange provided too short a notice (the ann went out some 40 days in advance, personal email about 30 days in advance).

That makes me think you feel 60 days would be more appropriate. Am I wrong?

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I wasn’t part of the ‘some of you’, and I don’t know what the right amount of time would be.

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So you have no opinion on the appropriate advance notice, but you do have an opinion that it’s not relevant for us to know that now.

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No opinion about the timeframe, a lot of things should be considered before one can make the right decision and I haven’t done that yet.

This is true, we cannot as we do not have any, except what we bought personally and we can sell that, but I doubt it adds up to 100BTC all of us together. I doubt it would have too much impact and I doubt any of us would sell our small amounts we have.

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I hope to have a long timeframe for conversion. Don’t know the issues for the network to wait a long time, but if possible, more than a year
 Why not forever?

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Not the network but we MaidSafde will do the transfer (scripted). Who knows how long we will be around or why follks should continually trust us. Imagine folks having to stop their work to xfer more coins around or handle questions etc.

I am not sure what a small group not transferring would achieve by holding, perhaps I am missing something though?

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I think many just want to know how long will the window remain open after the announcement.
If that’s 60 or 90 days, fine. Then those who don’t follow this on a daily basis can set reminders to check the site for announcements every 55 days.

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I imagine we will be very vocal with any such announcement and if folks miss the window I doubt we will harm them in any way [ I mean refuse them]. I think all we want is a smooth transition and in such a way as to be reversible if some calamity happens, like switching too soon and finding a serious bug or similar. Testing will be very important.

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