I invested in Maidsafe’s crowdsale in early 2014.
Between then and now I have sold over 70% of my holdings.
Why have I sold over 70% of my holdings?
Well, partly for the gains. Prices have always been at least 8x more than purchase price. But, primarily I have sold for these reasons:
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The following is a (partially edited) copy of a post I made on safenetforum.org in February 2018.
I want to have a copy to point to on this blog as it accurately outlines my thinking in regard to the Safe Network’s proposed economics.
TL;DR
Any network that proposes to use economic incentives to store/deliver/secure data is an economic system first and a technical implementation second.
That means you better be sure you got the incentives right before you start building.
I’m not convinced Maidsafe’s Safe Network has a clear, defined path moving forward when it comes to incentives. Read on to get my full thoughts.
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I have to get some words down as there’s no point identifying madness after the fact.
I truly cannot get my head around it. All I can say is that I’m profoundly grateful to be witness to it. Here’s where we’re at:
I’m sick of hearing people say that they don’t care who Satoshi is, or that it doesn’t matter.
I care who Satoshi is because it does matter, a lot. There are a couple of reasons:
We’re all waiting for a project to come along with the security, scalability, feasibility and community to finally realize the greater part of block chain technology’s future.
This future is presumed by many to be one in which countless inefficient industries are re-imagined upon decentralized crypto-platforms. This is the dragon that crypto-junkies have been chasing ever since taking a hit of bitcoin and is actively being developed into existence.
You may be part of the Ethereum, Mastercoin (Counterparty) or Bitshares crowd, and if you are, you’re likely to get a modest slice of the pie, but the lion’s share looks like it might have been reserved for Nxt.
Nxt is a big deal, let me tell you why.
Bitshares is a broad term which encompasses all Distributed Autonomous Companies that spawn from ideas and code put forward by Invictus Innovations.
Invictus Innovations is a (regular) company fronted by Co-Founder, Daniel Larimer. Invictus creates Distributed Autonomous Companies (DACs) under the Bitshares banner. These DACs are released to the public and honour Bitshares PTS and Bitshares AGS holders with part ownership in these DACs. Continue reading
This article assumes you already know what Maidsafe, the SAFE network and safecoin are. If that’s not the case, read this.
Wow. Those MaidSafeCoins (safecoins) got snapped up like fresh cheese rolls.
now that’s saying something
I have the feeling that was something substantial. It begs the question, did I just put my money into an incredibly under-priced crowd sale, or did I put my money into an incredibly over-hyped crowd sale?
Before you get my biased opinion on that question, let’s cover some stuff, unfortunately it’s not all laughter and lollipops. Continue reading
Maidsafe's safecoin crowd sale sold out in only 5 hours! Read about it here.
Maidsafe is a company that is developing the SAFE network which is a proposed peer to peer storage and communication platform that could completely change how we use the internet.
Bold claim, broad scope. Maidsafe appear not to deal with timidity.
I hear you ask, ‘but what’s wrong with the features of our current Internet? I can buy stuff, build stuff, share stuff and pleasure myself using it. I can’t imagine it being much better.’
I see where you’re coming from, and I must say, compared to what existed before the internet (very little?), it seems trivial to try and improve a technology that has made arguably the greatest contribution to the freedom and wealth of individuals on this planet.
Then Maidsafe struts in and proposes that it is designing the next logical internet iteration, suggesting our current product is far from its potential.
What’s the investment relevance? If you bear with me, I’ll build you up to it. Continue reading
Mastercoin is a protocol that massively expands upon the uses and functions of bitcoin, it does so by leveraging the bitcoin blockchain as a message and time stamping third party.
After two years of closely following the cryptocurrency ecosystem, mastercoin was the first thing beside bitcoin I got excited about from an investment perspective, simply because it is an innovation bringing something new to the party. Continue reading
Bitcoin is the business. It has directly or indirectly enabled every technology I write about. While most people have heard of it, few people understand the true innovation and extent of its significance.
You could well be a die-hard bitcoin fanatic by the time I’m done with you. Continue reading
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