MaidSafe on Yuanbao: Mission Accomplished

I wish there was something else to write about, but as far as I can tell, there’s nothing going on: MaidSafe is busy spending proceeds from counterfeit money looking for more money.

It’s August 2016 and SafeNet is still pretty much nowhere. On top of all the funds MaidSafe sucked in, two “promising” crowdsourced projects that are (were?) supposed to run on top of the SafeNet are following SafeNet and also going nowhere. Many of the fools who are still long MAID have also put their money into these two projects which won’t be generating crypto-cash-flow anytime soon (if ever). SafeEx is… I don’t know, they’ve moved on and don’t post in the community forum. Decorum is doing nothing because there’s nothing to do.

Which brings us to the third mucho hyped SafeNet news of this summer: the launch of MAID in China, which was supposed to generate enough demand for MAID and make it easier for MaidSafe to offload their counterfeit coins.

I checked the status of MAID on this market to see just how insatiable the Chinese demand is and I wasn’t disappointed: today as much as 0.4% of all MAID was traded on Yuanbao!

yuanbao-volume

But by now it doesn’t matter any more. MaidSafe has likely raised enough cash to pay their expenses while they’re looking for their next victim and the fools on the forums aren’t complaining because the exchange rate of MAID seems to be holding up. So far so good!

Before you go don’t forget to check the price of MAID on Yuanbao. The cheapest MAID you can find!

Why, of course because the token is so important to Yuanbao’s business that they can’t be bothered to make withdrawals work. If you’re lucky enough to have an account there, you can buy MAID as long as you don’t take delivery. Needless to say, this creates less demand and the precious therefore commands a lower price.

Cynics would say this Yuanbao MAID withdrawal issue that’s been going on forever may be just a business agreement designed to prevent the leakage of coins to Poloniex, but they wouldn’t do that, would they?

 

 

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