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Author Topic: [ANN] IPO of MaidSafe:  Entering the Future of the Decentralized Internet  (Read 579306 times)
jibble
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March 14, 2016, 07:32:12 PM
 #1541



What a kludgy, convoluted mess.

Not only does it resemble the NAUT swap fiasco, the "burned" supply goofiness smells like the Counterpary and VIA failures.  These Rube Goldberg ICO and shell game IPO schemes never turn out well for anyone except the guy that took everyone else's Bitcoins.

As for "basic math," I'd love to have some explanation of the cryptography behind Safecoin's alleged private/untraceable/unlinkable properties.

But every time I ask, I get a different answer.  I'm not seeing an advantage over SIA or Storj here, to put it nicely in an understatement.



You will get different answers from different people over here on bitcointalk, where non of the dev's hang out, only people who have an interest in it, It is it hella complex in how everything comes together so that adds to the difference in understanding people have of the technology and their own explainations

SIA and Storj are blockchain based storage , they are great examples of blockchain based decentralized storage solutions .

there are plenty of sources of information straight from the horses mouth as it were on the forum and on the blog :

http://blog.maidsafe.net/

https://forum.safenetwork.io/

these are the places you will get the most accurate information, if you cannot find anything specific to your question you can create a post, most likely someone will either link you to the topic that has already been created or even david himself regularly replies and helps explain things for the most accurate details regarding it.


Safecoins exist on the network, the only data fields they have are previous and current owner, This is also why transactions are near instant an can handle many thousands a second very easily , because it is literally filing in the hash for the new owner and thats it.

a similar cryptography to a bitcoins wallet address is how the hash for the ownership of the coin is secured.

Now you would ask , well couldn't a node just fake a hash and change ownership of the coin?

this would require consensus of almost all the nodes in a group, 32 nodes per "group" 28 out of 32 need to agree on a specific decision and confirm it.

the next question would be, what if i controlled 28 nodes in a single group? could i then forces decisions on the network?

Firstly it would be incredibly hard to do, No one knows or can choose where and which group they will be placed in, It is all decided randomly in XOR space . The only way really to be able to control 28 nodes out of a single group would be the attack the network buy creating thousands of new vaults, you would need to be creating 7/8ths of the new vaults being created, requiring a 87.5% attack instead of a 51% on a blockchain

Even if you successfully manage to do a successful 87.5% attack and manage to get control of a single node group or 28 of the 32 nodes in a group, no single node group decides on the decisions of changing a coins ownership, it would be decided by either 2 or 3 groups i think(maybe more(, so the 87.5% attack would have to be sustained for even longer costing huge amounts of money as you try to create many thousands of vaults. I don't know the mathematically numbers off by heart but they are written down and have been regularly talked about on the forum in several different threads

Just like blockchain consensus you cannot make it mathematically 100% secure but you can make it mathematically unfeasible to attack the network successfully or statistically improbable .

This doesn't even begin to get into the reputation system that each individual node has and the time that you must have the node running to be trusted more and more as time goes and you function correctly as a node delivering chunks of data
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Coinler
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March 14, 2016, 09:08:24 PM
 #1542

the reason why this will work is because the maid coins are tied to the safe network. u cant get into the safe network without owning maidcoins, you cant upload to it's cloud storage network without using maidcoins to buy safecoins. i explained it in layman's terms is all. finally, when you purchase safecoins, the maidcoins used for the purchase will be burned. reducing the supply of available maid left on the market for btc trade. i hope that basic math can take over from this point for you.

What a kludgy, convoluted mess.

Not only does it resemble the NAUT swap fiasco, the "burned" supply goofiness smells like the Counterpary and VIA failures.  These Rube Goldberg ICO and shell game IPO schemes never turn out well for anyone except the guy that took everyone else's Bitcoins.

As for "basic math," I'd love to have some explanation of the cryptography behind Safecoin's alleged private/untraceable/unlinkable properties.

But every time I ask, I get a different answer.  I'm not seeing an advantage over SIA or Storj here, to put it nicely in an understatement.

Currently the Maidsafecoin is held on the Bitcoin blockchain

Omni blockchain ready to be used , the whole 70 GB :
https://bitcointalk.org/index.php?topic=1101724.msg14006462#msg14006462

It is blockchainless , so truly anonymous .

well maybe maid isnt for you and one of storj or something is better. but based on what ive read and demo'd on maid its the solution that i prefer. maybe later on when you develop a need for maid's services it may seem more appealing.
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March 14, 2016, 10:45:42 PM
 #1543

Looks like I bought at the top 0.00027500 a week ago.

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March 14, 2016, 10:51:25 PM
 #1544

Looks like I bought at the top 0.00027500 a week ago.

Top was higher than that. Besides, MVP hasn't been released yet ... I wouldn't worry. Just let whales play their games.

(assumption anyway, who knows what whales really plan to do).
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March 15, 2016, 12:44:37 AM
 #1545

As for "basic math," I'd love to have some explanation of the cryptography behind Safecoin's alleged private/untraceable/unlinkable properties.

But every time I ask, I get a different answer.  I'm not seeing an advantage over SIA or Storj here, to put it nicely in an understatement.

Then go ask David Irvine (the main dev) on https://forum.safenetwork.io/

You're constant obtuse comparisons with other coins probably isn't going to get you very far in this thread (because Safe Devs don't read it).
sofu
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March 15, 2016, 07:38:17 AM
 #1546

the whale shouldn't make it so obvious that he is controlling the market and the price  Cheesy



This is a 50/50 gamble now if you are not on the inside. Take care!

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March 15, 2016, 08:40:16 AM
 #1547

the whale shouldn't make it so obvious that he is controlling the market and the price  Cheesy



This is a 50/50 gamble now if you are not on the inside. Take care!

Where there is crypto to be traded there are gonna be whales. No coin excepted  Cool
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March 15, 2016, 09:43:46 AM
 #1548

And about Safecoin, they use ring signatures if you like.

Safecoin is cryptocoin that doesn't use a blockchain.

Ummmmmmm, how does Safecoin use ring signatures if it doesn't have a blockchain?

From where do the required "random transaction outputs on the blockchain" originate?

Go to their forum will ya. And dive into the tech if you wanna know more. Ring signatures IMO mean several people (groups on SAFE) sign the transaction before a coin goes from person A top person B. SAFE uses a whole different approach than other crypto's. You'll see coins go from person A to person B when a couple of close groups sign the transaction. This means transactions under a second and because only 100 nodes a needed for 1 transaction the network can scale to thousands and thousand of transactions per second overall on the network. Hard to believe probably, but that's the way it's made.    
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March 15, 2016, 04:33:22 PM
 #1549

the whale shouldn't make it so obvious that he is controlling the market and the price  Cheesy


This is a 50/50 gamble now if you are not on the inside. Take care!

Happens with all coins. If anyone believes in 'natural growth', they are fooling themselves. I do agree however that the maid whale (or whales) has been extremely obvious in their manipulations... from insane buy walls to shakeouts. Figuring out their whale patterns is the problem, however.

One would logically think after this shakeout, there would be another rise (w/ MVP release), then fallback again. But things don't always play out logically, so who knows.
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March 15, 2016, 04:59:40 PM
 #1550

I Think the wales are keeping the price of this coin down, when Maidsafe will be implemented in banks and Ethereum, the price will go wild!
Soon Is my birthday and I am going to invest my birthday money in a few coins And this will be one of them, I just hope the price hasnt skyrocketed by then 17 march, what do you think guys?
 
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March 15, 2016, 05:15:54 PM
 #1551

I Think the wales are keeping the price of this coin down, when Maidsafe will be implemented in banks and Ethereum, the price will go wild!
Soon Is my birthday and I am going to invest my birthday money in a few coins And this will be one of them, I just hope the price hasnt skyrocketed by then 17 march, what do you think guys?
 

I wouldn't worry about banks/eth (that is hype talk). I think it simply comes down to when they announce MVP and IF the whales use that to pump up the price. Dev update should be today, so we'll know soon enough if it's this week or not.
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March 15, 2016, 05:24:24 PM
 #1552

I Think the wales are keeping the price of this coin down, when Maidsafe will be implemented in banks and Ethereum, the price will go wild!
Soon Is my birthday and I am going to invest my birthday money in a few coins And this will be one of them, I just hope the price hasnt skyrocketed by then 17 march, what do you think guys?
 

at this stage i think we're good for anything under 30k considered cheap. yes the live release will be wild. i dont see any reason why almost every website on the internet wont want to transfer to maidsafe network. its so simple and userfriendly to operate and you get soooo much security. so yes i have no doubt.. live will be another story. some people think this is speculation price, but i think its actual early bird demand. speculation might take maid over .008btc a share. and yes i honestly think that is realistic. considering demand will not use their coins for trade but to buy storage on the network.
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March 15, 2016, 05:32:39 PM
 #1553

I Think the wales are keeping the price of this coin down, when Maidsafe will be implemented in banks and Ethereum, the price will go wild!
Soon Is my birthday and I am going to invest my birthday money in a few coins And this will be one of them, I just hope the price hasnt skyrocketed by then 17 march, what do you think guys?
 

at this stage i think we're good for anything under 30k considered cheap. yes the live release will be wild. i dont see any reason why almost every website on the internet wont want to transfer to maidsafe network. its so simple and userfriendly to operate and you get soooo much security. so yes i have no doubt.. live will be another story. some people think this is speculation price, but i think its actual early bird demand. speculation might take maid over .008btc a share. and yes i honestly think that is realistic. considering demand will not use their coins for trade but to buy storage on the network.

Yeah, you are a tad more optimistic than I am. What I see is a coin that went from 3500 up to 30K... currently waiting for MVP, so at least 1-2 more chances to pump higher.

After release, who knows. One would think it'd fallback, but it depends on if whales want to keep pumping after MVP to a certain point. It will fall back at a certain point, happens with all coins... question is where it ends up, and when whales decide to withdraw.  
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March 15, 2016, 06:29:12 PM
 #1554

I Think the wales are keeping the price of this coin down, when Maidsafe will be implemented in banks and Ethereum, the price will go wild!
Soon Is my birthday and I am going to invest my birthday money in a few coins And this will be one of them, I just hope the price hasnt skyrocketed by then 17 march, what do you think guys?
 

at this stage i think we're good for anything under 30k considered cheap. yes the live release will be wild. i dont see any reason why almost every website on the internet wont want to transfer to maidsafe network. its so simple and userfriendly to operate and you get soooo much security. so yes i have no doubt.. live will be another story. some people think this is speculation price, but i think its actual early bird demand. speculation might take maid over .008btc a share. and yes i honestly think that is realistic. considering demand will not use their coins for trade but to buy storage on the network.

Yeah, you are a tad more optimistic than I am. What I see is a coin that went from 3500 up to 30K... currently waiting for MVP, so at least 1-2 more chances to pump higher.

After release, who knows. One would think it'd fallback, but it depends on if whales want to keep pumping after MVP to a certain point. It will fall back at a certain point, happens with all coins... question is where it ends up, and when whales decide to withdraw.  

dont really want to make it a conversation about price. but i can identify a major difference between maid and other coins.. and ive been around for a while. maid coins actually have to be used. in other coins you can use their features without the coin.. except for the great masternode coins which just let alot of ppl hold while the devs dump. this is different. u dont own maids, u dont get to use the network. that makes it a viable business imo. not traditional crypto pnd because there is a real possibility that you may want to store something on the network at some time in it's lifetime, and then.. what would be the price?? less than 10 cents a share? if i owned a website i would transfer it to maidsafe network the day of release. but i dont own a website.. but guess what.. maidsafe technology has made me now interested in having a website(s) and utilizing couldstorage to backup any data i need to keep alive for eons without fear of it getting erased. writing books, documentation of inventions etc can all be stored securely on safenetwork.. so the demand will be real. even if u see a 350btc buy it isnt a pump.. its someone buying in for real and those coins are gone.. waiting for release so they can upload their data. i dont see it as optimism because of the math ive done behind demand for this type of tech and the available supply.

and well not many maids sold at 3500. the ico price was 5500.. so at 25k we're only looking at 5x.. and how many ico holders sold on the way up thinking it would go back down.. and then.. it didnt. i got in late though. i watched it rise from 12k and decided to get in at 17k after i read about maid. i was confident that even at 17k my investment was safe.3 weeks later.. and its proving that to be totally true.
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March 15, 2016, 06:35:22 PM
 #1555



and well not many maids sold at 3500. the ico price was 5500.. so at 25k we're only looking at 5x.. and how many ico holders sold on the way up thinking it would go back down.. and then.. it didnt. i got in late though. i watched it rise from 12k and decided to get in at 17k after i read about maid. i was confident that even at 17k my investment was safe.3 weeks later.. and its proving that to be totally true.

It's been so long, I forgot what the ICO price even was. I do know it was floating around 3500-4000 for like seemingly forever though. Last year it was 4000ish... same time this year it was 4000ish.

Longterm, you may be correct though. I just didn't want this guy to invest all of his birthday money off of a coin's high ... when it has gone up a lot already. A small investment, or whatever he is willing to lose... sure, it's up to him.

I tend to be naturally pessimistic with all cryptos, so assume everything is manipulated, what goes up, eventually comes down, and so on ... so take that for what you will. I'm also saying this as someone who still holds some Maid -- bought in at 5K, sold most at 17Kish (yeah, sold too early) ... then bought back in a small amount in low 20s. So I still expect it to go up, but not quite as optimistic as you are ... and who knows longterm.
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March 15, 2016, 08:04:26 PM
 #1556

If you have been watching the charts closely, you can make an educated guess as to where the price is heading. It may take some time, but I see much more life in MAID.

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March 15, 2016, 08:18:34 PM
 #1557

yeah im talking longterm. demand for safenetwork's encrypted distributed redundant backup with autofailover data storage and service hosting (yeah thats a mouthfull)will grow. and with it, each request for service will require maidcoins purchased on the market to be used in the transaction. so yes, regarding the guy and his birthday funds, invest shrewdly as usual. or as i tell all who i advise to invest in maid for the longterm. "dont be greedy, but get some maid, some for you and some to trade". basically, reserve some storage on the network at the best price u can. especially if you understand why you would want to use that service, then i wouldnt have to tel anyone this. but there's more to investing than just deciding how much to spend. u keep up with latest news and daily trade averages to decide if you can surely exit and re-enter for a cheaper price holding a larger share. maid may make some moves in the short term, but the real demand for service will come after safenetwork goes live and people can get to work with a real product.

in a sense we're just basically at a second stage ico where we have to pry initial investors coins out of their hands and tempt them to give up portions of their share. they took a large risk investing in maid so early. at this stage our risk isnt that high because we at least have a working demo and a product we can see is nearing delivery. its just down to.. how much storage on maidsafe you want to keep for yourself, And how much you want to invest in the projected level of demand for this technology. because i believe the devs can and will deliver.

so the whales will play as they say. in the meantime. but once things go live, growing attraction will secure the 20k-30k price points easily. the trick here is in making sure you've secured your position when playtime is over.
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March 15, 2016, 08:31:32 PM
 #1558

Here's the latest Dev-Update:

MaidSafe Dev Update 15th March 2016

Follow the development through GitHub/Maidsafe.
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March 16, 2016, 02:15:45 AM
 #1559



and well not many maids sold at 3500. the ico price was 5500.. so at 25k we're only looking at 5x.. and how many ico holders sold on the way up thinking it would go back down.. and then.. it didnt. i got in late though. i watched it rise from 12k and decided to get in at 17k after i read about maid. i was confident that even at 17k my investment was safe.3 weeks later.. and its proving that to be totally true.

It's been so long, I forgot what the ICO price even was. I do know it was floating around 3500-4000 for like seemingly forever though. Last year it was 4000ish... same time this year it was 4000ish.

Longterm, you may be correct though. I just didn't want this guy to invest all of his birthday money off of a coin's high ... when it has gone up a lot already. A small investment, or whatever he is willing to lose... sure, it's up to him.

I tend to be naturally pessimistic with all cryptos, so assume everything is manipulated, what goes up, eventually comes down, and so on ... so take that for what you will. I'm also saying this as someone who still holds some Maid -- bought in at 5K, sold most at 17Kish (yeah, sold too early) ... then bought back in a small amount in low 20s. So I still expect it to go up, but not quite as optimistic as you are ... and who knows longterm.

It actually dropped to the low 2000s briefly on Poloniex before it before it started gaining traction. I was going to buy 100k more at that time, but the price went up before I got my chance. The ICO price for those who invested with Bitcoin was about 0.000042 or 4200. Mastercoin investors bought in for considerably less.
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March 16, 2016, 04:26:19 AM
 #1560

Hello, Guys,

I'm looking for major MAID holders for the purpose of doing OTC(over the counter) deals to acquire this currency without moving market prices at exchanges.
I'll start buying April/May on behalf of my clients and continue to do so for at least a year.

If you are interested, send me a pm or an email, with these details:
Minimum amount i could buy from you, maximum amount i could buy in one operation, your preferred payment method and how to get in touch with you.
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