dbt1033
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Activity: 1274
Merit: 1000
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June 01, 2016, 08:49:36 AM |
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https://forum.safenetwork.io/t/maidsafe-and-project-safe-moving-forward/9558/118So the devs are out of funding and plan on dumping 24 million premine that shouldn't exist? Come on guys... this is about the worst news we could have gotten. This is a really good post from a MaidSafe forum member. Supposedly, there are missing coins from the "reserve" address. Sent to polo a month ago. Sad to say, but I just sold the last of my MAID. Good luck guys. Ethereum is mining 30% new coins this year. That's 2,5% new coins each month due to mining. Maidsafe is selling coins which were part of the Maidsafe Foundation. These coins exist since 2014 and are part of the 452.552.412 as showed on Coinmarketcap So there are no new coins printed/mined or whatever. The thing some people worry about is new coins coming to market. Well, 19 million coins is 4,19% of the total available coins. If they bring these to market spread over 6 months that 0,7% "new coins" per month, still way below the monthly 2,5% ETH that get mined and brought in existence, and only for 6 months. And I even believe they will take more time than 6 months. So yeah, feel free to sell whatever. I just keep my coins and maybe even buy some more today. This is just panic selling from some poorly informed people that don't follow the project that much. The Foundation has these MaidSafeCoins as a result of a technical issue with the Master Protocol (now Omni protocol) that resulted in an over issuance during the crowdsale. These coins are, and have been, calculated as part of the safecoin market capitalisation, though they have not been put into circulation. The existence of these MaidSafeCoins has been known about since the crowdsale, and what to do with them has been discussed amongst the broader community on the SAFE Network forum.
Link to the article on the Maidsafe blogLink to the discussion topic on the forumThis is why I sold. Good timing devs. The buy book is so thin...if BTC starts pumping, it will only make matters worse.  |
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fatbloke85
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Activity: 6
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June 01, 2016, 08:52:49 AM |
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Response from dev team: "Well first it was not 1 million :smiley: it was 900,000 unsold coins form the crowdsale. We said the conclusion of the sale was completely horrendous, the mastercoin network was out of consensus. So the stop token was late and meant the extra Maid were already created. The sale also stopped short before the coins were all sold. It was 900,000 short. So these were simply the undersell amount, not any created in error. These should have been sold and will be."
So basically, there is a 900k coin dump imminent....
Thanks for the heads up. I couldn't understand why maid was crashing and I was considering catching the falling knife. Now I'm better informed I will wait longer before considering catching the falling knife again. |
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zeeman
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June 01, 2016, 08:56:12 AM |
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Response from dev team: "Well first it was not 1 million :smiley: it was 900,000 unsold coins form the crowdsale. We said the conclusion of the sale was completely horrendous, the mastercoin network was out of consensus. So the stop token was late and meant the extra Maid were already created. The sale also stopped short before the coins were all sold. It was 900,000 short. So these were simply the undersell amount, not any created in error. These should have been sold and will be."
So basically, there is a 900k coin dump imminent....
Thanks for the heads up. I couldn't understand why maid was crashing and I was considering catching the falling knife. Now I'm better informed I will wait longer before considering catching the falling knife again. So you buy that FUD  Feel free to do so, I will probably buy some more today.  |
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mishax1
Legendary
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Activity: 2898
Merit: 1017
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June 01, 2016, 09:02:48 AM |
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Shit, the Mastercoin disaster now comes back in the form of Maidsafe.
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zeeman
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June 01, 2016, 09:03:04 AM |
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dbt1033
Legendary
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Activity: 1274
Merit: 1000
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June 01, 2016, 09:09:15 AM |
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Shit, the Mastercoin disaster now comes back in the form of Maidsafe.
It's much worse this time. Fudstorm to come. Look at what happened to mastercoin.... Maid next |
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dbt1033
Legendary
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Activity: 1274
Merit: 1000
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June 01, 2016, 09:09:42 AM |
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Response from dev team: "Well first it was not 1 million :smiley: it was 900,000 unsold coins form the crowdsale. We said the conclusion of the sale was completely horrendous, the mastercoin network was out of consensus. So the stop token was late and meant the extra Maid were already created. The sale also stopped short before the coins were all sold. It was 900,000 short. So these were simply the undersell amount, not any created in error. These should have been sold and will be."
So basically, there is a 900k coin dump imminent....
Thanks for the heads up. I couldn't understand why maid was crashing and I was considering catching the falling knife. Now I'm better informed I will wait longer before considering catching the falling knife again. So you buy that FUD Feel free to do so, I will probably buy some more today. Watch the shitshow unfold: https://forum.safenetwork.io/t/maidsafe-and-project-safe-moving-forward/9558/164Set your buys around 3k satoshi, you'll get more. |
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iCEBREAKER
Legendary
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Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
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June 01, 2016, 03:35:18 PM |
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The Foundation has these MaidSafeCoins as a result of a technical issue with the Master Protocol (now Omni protocol) that resulted in an over issuance during the crowdsale.
The existence of these MaidSafeCoins has been known about since the crowdsale, and what to do with them has been discussed amongst the broader community on the SAFE Network forum.
It's the Dash Instamine all over again; a stunning display of incompetence, malfeasance, or both. "Oops, we accidentally too many coins....OH WELL BETTER KEEP THEM ANYWAY BECAUSE OF REASONS." |
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Monero
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| "The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." David Chaum 1996
"Fungibility provides privacy as a side effect." Adam Back 2014
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leorjakum
Newbie
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Activity: 39
Merit: 0
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June 01, 2016, 04:32:50 PM |
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its time to sell or HODL? =ooo
i dont understand what is going on...but... im making a wall buy soon.
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dbt1033
Legendary
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Activity: 1274
Merit: 1000
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June 01, 2016, 07:55:08 PM |
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its time to sell or HODL? =ooo
i dont understand what is going on...but... im making a wall buy soon.
Why would you HODL? Only HODL if you are in a short position. Otherwise, this is going to 3k. Fast. The dev team is out of money and incredibly incompetent. Buy walls? Don't catch the falling knife. There will be blood. |
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dbt1033
Legendary
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Activity: 1274
Merit: 1000
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June 01, 2016, 08:04:19 PM |
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The Foundation has these MaidSafeCoins as a result of a technical issue with the Master Protocol (now Omni protocol) that resulted in an over issuance during the crowdsale.
The existence of these MaidSafeCoins has been known about since the crowdsale, and what to do with them has been discussed amongst the broader community on the SAFE Network forum.
It's the Dash Instamine all over again; a stunning display of incompetence, malfeasance, or both. "Oops, we accidentally too many coins....OH WELL BETTER KEEP THEM ANYWAY BECAUSE OF REASONS." It is the DASH instamine all over again; only this time, otoh and masternode aren't pumping btc in to the market to save face. No market makers are in maid because of shit just like this. |
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coinbasesucks
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June 02, 2016, 12:17:20 AM |
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its time to sell or HODL? =ooo
i dont understand what is going on...but... im making a wall buy soon.
Why would you HODL? Only HODL if you are in a short position. Otherwise, this is going to 3k. Fast. The dev team is out of money and incredibly incompetent. Buy walls? Don't catch the falling knife. There will be blood. I am shorting Maid on Polo right now, no need for me to spread FUD, I think this coin will tank nicely without any intervention. |
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coinbasesucks
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June 02, 2016, 01:18:27 AM |
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Response from dev team: "Well first it was not 1 million :smiley: it was 900,000 unsold coins form the crowdsale. We said the conclusion of the sale was completely horrendous, the mastercoin network was out of consensus. So the stop token was late and meant the extra Maid were already created. The sale also stopped short before the coins were all sold. It was 900,000 short. So these were simply the undersell amount, not any created in error. These should have been sold and will be."
So basically, there is a 900k coin dump imminent....
Thanks for the heads up. I couldn't understand why maid was crashing and I was considering catching the falling knife. Now I'm better informed I will wait longer before considering catching the falling knife again. So you buy that FUD Feel free to do so, I will probably buy some more today. Watch the shitshow unfold: https://forum.safenetwork.io/t/maidsafe-and-project-safe-moving-forward/9558/164Set your buys around 3k satoshi, you'll get more. I was expecting to see a shit storm too. But apparently bag holders have yet to take off their rose colored glasses. Reminds me of those Branch Dividians in Waco. We all know how that turned out. Well hopefully investors see the writing on the wall soon so i dont get margin called, eek. |
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Piston Honda
Legendary
Offline
Activity: 2702
Merit: 1064
Juicin' crypto
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June 02, 2016, 01:38:08 AM |
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lol wow. k done and dumped it  sorry maid, have a nice life (of nothingness) |
$ADK ~ watch & learn...
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HinnomTX
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June 02, 2016, 02:56:25 AM |
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crisis = opportunity
NOW IS THE TIME TO BUY.
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"One can only solve so much with cryptography. The rest of the solution will prove to be economic in nature." -Evan Duffield Dash is Digital Cash. https://www.dash.org |
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Arrakeen
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June 02, 2016, 05:08:57 AM |
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To everyone saying 'set buys @ 3k sat' - what makes you think the price will rise again? Could just be a clever exit strategy by the devs...milking every last satoshi before coin death  |
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Camus
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June 02, 2016, 05:09:47 AM |
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The ipo has ended ,missed the train  |
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Jocuserious
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June 02, 2016, 06:45:29 AM |
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To everyone saying 'set buys @ 3k sat' - what makes you think the price will rise again? Could just be a clever exit strategy by the devs...milking every last satoshi before coin death Yes. That is what is happening. One of the most transparent dev teams in the entirety of crypto is milking rhetoric to screw people. Thank you for your post. I bought more... |
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BadAss.Sx
Legendary
Offline
Activity: 1526
Merit: 1002
Bulletproof VPS/VPN/Email @ BadAss.Sx
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June 02, 2016, 12:37:14 PM |
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And the fud never ends...shameless people haha
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poornamelessme
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June 02, 2016, 05:37:26 PM |
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I was expecting to see a shit storm too. But apparently bag holders have yet to take off their rose colored glasses. Reminds me of those Branch Dividians in Waco. We all know how that turned out. Well hopefully investors see the writing on the wall soon so i dont get margin called, eek.
The issue I see with Maid isn't this latest little problem. It's that the market is being manipulated to an extreme degree. I also find it a tad bizarre how the MVP was slated for release back in March/April, devs gave all indications it was about to be released 'any day'. Yet they didn't even start testing yet. So they knew that had to be false. We aren't talking about a delay due to the precarious nature of code, or bugs, or any of that. They had to know ahead of time that the MVP wouldn't be released back then ... not even close. Of course the pump/price swings based on every single word they uttered via their updates were of some benefit to certain investors. But that just gets back to price manipulation. |
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