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Anybody else think Maidsafe might be a completely and utterl

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Anybody else think Maidsafe might be a completely and utterly broken?

They have no clear definition of how they solve the double spending problem. It seems likely infinite Safecoins could be created. They claim some wishy washy system of nodes forming consensus among each other. This can be gamed by creating many nodes - they claim there will be some ranking system. None of this is precisely defined.

The way in which they ensure data does not ever get removed from the network is highly suspect too. (They claim data will never be removed, yet fail to define exactly how this is guaranteed as in the cost of removal > cost of keeping it.)

After spending a good day reading up on this, I fail to be convinced that they have anything that provides any guarantees. (As opposed to reading the Satoshi whitepaper where I was convinced within ten minutes).

It seems the creator has some belief in ants and the emergent properties of many nodes working together, and somehow thinks everybody will be honest and it will all just work. This is nice and all, and might even work for some kind of community network where everybody contributes - but provides *NO* mathematical guarantees, including when it comes to being able to prevent an attacker creating infinite monies.

There might be some natural emergent equilibrium reached of honest people vs attackers. But perhaps not before the money supply has been inflated hugely.

I'm convinced he genuinely believes this will all work. I'm also convinced he is completely out of his depth without realising it.

I'll leave you with a choice quote from the creator:

>I do not buy into game theory though, I am not convinced at all its a natural state of a system in equilibrium. I feel Nash's theories are incorrect and caused many problems in the world and still are, they sound very clever though ;)
>https://forum.safenetwork.io/t/question-about-rank/1942
>>
MORE CHOICE QUOTES:

>I know we have consensus groups, I know folk do not find it easy, but they are there all over the place inter-lapping, constantly changing and deterministic (well if you can stop time and just analyse the network fully, you may be able to identify the state, but like Zeno’s arrow it will give more questions than answers). I know these groups exist, I know what they do and I know there are lots of them, each interwoven with others in a dance that makes your head spin in this cable.
>I then notice something, something that makes everything stop. I see a familiar thing, a pattern, a repeatable, explainable pattern and it is describable. In the mist there is a view coming to me and it’s taking a form, what is it?
>This language which describes the vaults and consensus logic will help us get closer to formal proofs, explaining the network and moving much much faster with a significant reduction in codebase

>We know and have proven experimentally many times the quorum of a group is secure.
[note "experimentally" rather than "mathematically"]

>Show me the maths proof!
>I hear this a lot with respect to MaidSafe and generally from ‘experts’. I get very frustrated by it which seems to show a lack of ability to some. I argue this is not the case. We have recently developed some maths equations for the security of close groups in MaidSafe, they are far from simple, but agree with results. I must add they are probably not understandable by many, not really. (we will publish these in papers, but believe me it’s a tiny part of a large story, a headline, not full research).

>https://metaquestions.me/

dude is drowning in his own coolaid
>>
>>1135682
Dunno. Software isn't finished and since its been in development it likely never will be. I guess we'll never find out if it works or not.

If storj integrates with ethereum maidsafe is fucked six ways from sunday so short MAID if that is announced officially.
>>
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>>1135687
Been in development for 10 years*

>sorry, i thought it but never typed it.
>>
>>Conclusion
>There is no short-cut, there is no final proof, we are merely allowed to see only part of what makes the universe work, we do not know gravity, anti matter, black holes or even if any of these things exist! We cannot even tell why prime numbers happen in the order they do, what we do not know is very simple things that we really should know. So how on earth could we know the big stuff? Bottom line, this game we are playing only shows us a few of the rules at any one time, things will change as we discover more rules, but they force us to reconsider all our previous moves continually and as nature shows us more rules it will force us to be humble and start again.

His followers are also just as crazy:
>As a visionary I don’t think you should feel obliged to explain in detail how things should work.
>The role of the vision is to lay down a rough plan, which can then be broken down into manageable tasks that may or not be achievable.

>>1135687
I just want to warn anybody who is thinking of this as a long term investment. I think there is a place for a storage related coin and have been researching Maid, Storj, and Sia. I would buy Maid if I could convince myself it would work...
>>
>tfw been workin 10 yrs on maidsafenetwork
>tfw borrowed loans from family and friends to make it happen
>tfw 19 yr old vitalik butthurtin yr old creates ethereum
>tfw maid at 10 cents eth at $11
>>
>>1136651
Just stick the tried and tested Proof of Work in there and it would all work fine. Or even our pal Vitalik's Proof of Stake.
>>
If you want real answers to these questions go to the forum and post them (http://forum.safenetwork.io) They just released the second iteration of the SAFE Launcher on Tuesday. The SAFE Launcer and Demo App allows you to connect to a controlled SAFE Network of 50 vaults they run.
>>
>short maid
>long eth
>>
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Ethereum is inherently flawed, and Maid still has to prove it can actually release the token (Safecoins) and scale up the system.

Basically every altcoin has to prove they can get on Bitcoin's level, and by then Bitcoin will be far too advanced. All altcoins are is empty promises and Bitcoin 2.0 delusions.

Interesting project and worth having some tokens to speculate with nonetheless.
>>
Greed is killing Bitcoin. The squabble current squabble over blocksize is just one currently visible crack. The blockchain has it's place but it's not as a currency.
>>
Bitcoin is done.

This notion that an old, slow, outmatched coin will always be the standard because it was first to market is naive. Bitcoin will be around for a while but blockchain tech has too much potential to be confined to simple value transfer.

And LMAO if you think sidechains are a suitable fix. It's like putting a band-aid on a tumor.
>>
All shitcoins are shit

Maid is just another pump n dump shitcoin

Bitcoin prices are only as high as they are now because there are so many bagholders that can't sell because they bought in too high

Get a real job and stop wasting time with these shit coins

>It went up 200%
Enjoy your $40 profit, which is still less than a day of minimum wage.
>>
Maidsafe was doomed from the beginning and anyone that bought into it is a complete fucking moron that didn't have the intelligence to do 2 seconds of research.

Maidsafe never had anything to do with Bitcoin and was a completely unrelated project started long. But they, like most people, saw an easy opportunity to cash in on these IPO retards and make a bunch of money - which they did.

in my opinion, they basically used Bitcoin/Crypto IPOs as a vehicle to get rich and shill their shitty product.
>>
Why the fuck are you toying with this random shitcoin? The fuck are you actually doing?

Bitcoin or nothing for cryptocurrencies.

Ethereum for cryptoPLATFORMS.

Step up you fucking loser, nobody cares about this maid stuff.
>>
>>1136732

>retard spergs on a Trump tier wall of text
>right off the bat thinks Ethereum is a fucking currency supposed to rival Bitcoin in any way, shape or form
>literally does not know what Ethereum is

Are you retarded son?
>>
>>1136732
lmao right except that ETH isn't an altcoin you fuckin dipshit
>>
I'd sell y'all a clue but I doubt that'd help set everybody straight. Good luck in life and see you on the SAFE Network because it's coming for you!
>>
Stroj > Maidsafe in every way, wuddap
>>
haha - I very much appreciate you trying to give more people a chance tu buy into MAIDs pretty cheap :D :D :D :D :D

> It seems likely infinite Safecoins could be created. They claim some wishy washy system of nodes forming consensus among each other. This can be gamed by creating many nodes

hmmm - could be a tough task to create "infinite safecoins" since there is a cap at 4.3 bilion (address space and such ... but never mind) xD
Oh and I just had a briliant Idea!!! we could get ourselves a huge amount of BTC if we manage to accumulate 50%+ of mining power!!!!

> It seems the creator has some belief in ants

Yeah I always knew those can't be trusted!

and for the sake of brevity I'll stop here and advice everybody to look into the tech him/herself :D ...
Thread posts: 20
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