Bankruptcy in the Future: is MaidSafe running out of fools

In this post I wrote about the latest and desperate attempt by MaidSafe to raise more money. The public fundraising page didn’t give any indication as to what one stands to get by investing in MaidSafe. No objectionable information means we should all invest, right? Wrong!

The fundraising campaign started a week ago. This was the status as of 2 days ago.

SafeNet Brankruptcy to the Future
No Millions in Minutes this time?

10% of the time allocated for fundraising had passed, but only 8% of the funds had been raised (probably from the lunatics from the SafeNet community forum) and that happened primarily in the first 2 days.

Since then the number of new backers has slowed down and they’ve added only a dozen or so new backers. I wonder if they’ll find enough fools to reach the minimum.

Close to 25% of fundraising time passed, close to 25% of the minimum target amount raised

At the moment the percentage figure is at 9(%).  It is questionable whether MaidSafe will manage to get any money out of this silly stunt.

Assuming that most of the forum fanatics have invested in early days and seeing the number of new backers slowing down, it’s pretty safe to say they’ll have a hard time hitting the minimum.

I’ve said this many times: the network may one day work (I give it a 40% chance at this point in time), but Safecoin is a complete catastrophe (my take: a 1% chance).

If MaidSafe kills Safecoin and license their patents they can potentially survive (but then they’ll probably get sued by MAID “investors”, which is why I wouldn’t invest in the company either), but it’s already pretty safe to say: the silly Safecoin is dead. Because MAID (the coin) has no other use except to be converted to Safecoin, its holders should sell that shitcoin right now.

Currently MaidSafe is not on track to raise the minimum amount. That means 4 weeks from now MAID could sink 30-50%. The market (and especially the forum fanatics) keep buying the fucking dip because they assume Safecoin can work and millions will be raised. Neither of that is true.

After this week it’s clear MaidSafe will need some luck to get anything at all. What follows is anyone’s guess.


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