The price of MAID hit by Zcrash

One month after the most recent “recommendation” to sell MAID (Safe) when it hits $1,000, MAID is dropping like a stone.

Today the token is down 25-35% (depending on the moment). That isn’t too bad considering that some – such as Zc(r)ash are down even more.

maidsafe-oct-30-collapse

But even as we’re familiar with the usual hype in the crypto world, I doubt you can  find a recent comment like this on any of these other coin’s forum:

And yes I am actually serious about thinking it could go up to $0.5Trillion market cap haha (meaning, much higher than bitcoin, since I don’t think that’s a good limitation for something that will be so explosive) before making these seemingly absurd predictions.

The MAID-Pumping Community guidelines call for the censoring of negative comments, so comments like these aren’t exactly rare.

Any of the fools who misplaced trust in this community forum and, guided by these modest growth predictions, bought in, they lost about 30% of the invested.

Which isn’t too bad, I must say, because MAID is on way to its intrinsic value, which is 0 (because the money has been raised and largely spent, while computer storage hasn’t been purchased; it’s supposed to appear and function for free).

While most of recent losses can be attributed to the launch of Zcash, it’s not the only reason why MAID is sinking. Ever since the current hype cycle begun (with the announcement that MaidSafe the company plans to sell the counterfeit MAID coins), the already worthless coin got a lot more expensive.

Let us remind ourselves that since the peak from 2-3 months ago until Zcash launch MAID has lost over 30% of its value.

maidsafe-oct-30-rt

 

And now that the “Moron’s Round Trip” has been completed, the posts in which I was saying that MAID is a screaming sell doesn’t seem so silly. Or maybe they still do. Either way, congrats to all the “investors” who bought high and held on its way down!

Who has done well?

Broadly speaking, all who bought low and sold high, but more specifically, MaidSafe the company.

As we know from their comments, on the way up they offloaded a ton of the counterfeit MAID. Those were “borrowed” from the MaidSafe Foundation (which is appears to be controlled by the borrower), offloaded on the “investors” on way up and now MaidSafe can maybe even buy some of it back to return the loan.

Although I don’t think they’ll do that because they got cash in their hands. Why bother trying to return part of the loan when it can be fully repaid only under the condition that Safecoin goes live. So as long as that doesn’t happen, there’s no reason to bother with partial repayment.

I wouldn’t be surprised if a decent buy wall came up in coming days: for MaidSafe the company it makes sense to continue small-scale trading against its investors because nothing has changed: they have better access to information and even though they’re not superior traders, that gives them enough of an advantage to take the fools for another Moron Round Trip as the torturous SAFE Network development continues at snail’s pace.

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