Hi all!
I see yesterday so many people sold their safex. It’s probably the best coin right now to hold for long term returns. Even though their team is small, they are dedicated, we’ve already seen that.
For opportunists, I’d say that this is the best opportunity to buy more of SAFEX.
Keep HODLing on…
a big holder had moved 5% of all created SAFEX onto the exchange.
To the exchange or to the official wallet?
The problem is that there are two types of investors- the HODLERs who are looking for decent long-term investments, and the day traders/pump and dumpers who buy and sell several times a day. I belong to the first group.
I bought into SAFEX on the advice of Vincent Briatore on YouTube, , who touted SAFEX as a potential $1 coin within a relatively short time (say in the next year). I bought in at .0007 and saw a quick rise to 3 cents. My problem is that I doubled down when it was .027, and it hasn’t reached that height again. Then today I read that Briatore, who was promoting this as one of the 3 best small cap coins to get into for 2017, had tweeted that he was getting out.
Thanks to my original investment, SAFEX would have to drop to .012 or so for me to stop breaking even. In the meantime I’m following the work of their small team closely. I don’t get the impression that it’s a scam coin, like Chaincoin was. If you compare the two you see that there was little communication from Chaincoin’s developers and that some unethical guys (i.e., Zedomax) with a personal stake were promoting the crap out of it on YouTube, and still promoting it long after they had taken their profits and the price had crashed from $6.81 on July 14 to just pennies today:
Especially poignant was the comment of one Dave eoff who said, “So my $11,200 is going to be worth $112?” Like, ouch. And for the record, someone should find this Zedomax a$$hole and break his legs for him.
I could sell and break even right now, but I’ve been reading a lot about this small team of developers and here’s what I like, even with the wallet problems and other missed deadlines: They seem to believe in their project and are pretty good at communicating. It doesn’t bother me that they’re in Serbia, which does not belong to the EU and therefor is not handcuffed by excessive regulation, or in the US, for the same reason.
Bottom line, I’m going to give these guys some time to realize their dream. Maybe my investment will be rewarded. There’s no such thing as a sure thing, so you have to gamble and trust your gut after doing due diligence.
No matter how good the project, all of that growth and then the pumps and dumps were scams.
As a trader I could look forward to picking this coin once it starts to pick up in value.
The team had enough funding, for their market cap. They should expand and once measurable progress is made, THEN the value of the coin will pick up.
As it stands, as a trader I have to hold growing coins and for the moment this is a stake coin.
What’s a stake coin? (I’ve only been involved in this stuff a couple months)
RIght now all the Alt Coins are going down because of a HUGE shift of money into Bitcoin Cash. DO NOT SELL, that would just be stupid
It is one of the highest volume penny coins… That alone makes me think it will go up…
I keep seeing the same type of posts everywhere. Not saying this thread is one of them, but it seems everywhere you look is just people who are either panicking, or have something negative to say about any given coin including this one. I’m starting to think that the vast majority of people, simply haven’t the foggiest clue how software development works. This is how it goes people, you’d better get used to it, or just stop buying/holding/trading cryptos now, while you’re ahead. All those wallet delays… they meant nothing to me. Zero. Any delay this project sees, means nothing to me.
Because I understand how software development works. Don’t get me wrong, I’m not a programmer. But nobody needs to be, to understand the basics of how any type of organization works. There ARE GOING TO BE DELAYS. Period. If you don’t like that, or if you can’t wait, or if that makes you nervous, get out now. Because you’re in the wrong business.
Yep your right… Most people don’t know wtf there invested in, they just see the news and $$ signs and jump in high without any research…
I read forums and coin websites for weeks before I even got in… I’m no programmer or even in a field close to anything tech related…
But I’ve always said… common sense and studying goes a long way… Most people have/do neither.
People cant see the big picture nor do they have the foresight to see what could be… There is nothing yet lol we are all buying ideas… Good ones though… In A few years when company’s start using blockchain technologies people will look back and wish they had made a move.
No risk no reward. Big risk big reward.
I agree also benny no one understands including me on how to program anything its takes some very brilliant people to be able to accomplish something like that. All the people bitching and complaining 98% of them probably cant barely open up a paint program and draw a picture. I’m a business owner and have learned lots of the years its just a learning curve they will get there footing on the project as they go. Let them do there thing if you wanna sell then go ahead its just a gamble like anything else. I’m a safex millionaire so all I can do is hope that all my coins will pay off in the future.
(FULL DISCLOSURE)
Verify my post history to confirm what I’m saying is true.
Here’s my story…
I’ve known @dandabek “before” the SAFEX ICO. The sad part is, I could only invest a really small amount ($20). But he is my friend and I wanted to support him. All my money was tied up in another project. Still, my investment grew from $20 to $250. Then it dropped.
A year later…
The other project was not progressing like we hoped. @dandabek made the hard decision to change direction with the company. Thankfully, he allowed the investors to vote in this thread. Safe Exchange proposal for new network
After the vote…
SAFEX coin started to grow. Voting is so valuable because it allows investors to add “financial weight” to their voice. We cannot blame the man behind the curtain. The future is truly ours to shape and we will always decide in our best interests.
Unfortunately…
I was not 100% committed to SAFEX. I was still focusing on other projects. From Oct 2016 to March 2017 SAFEX was humming along. On April 2017 it really started to gain momentum. Speculators were actively trading SAFEX coin. I decided to put more money into it. And it was worth it!
Let’s Talk “Magic” Numbers
Right now SAFEX is around $0.016 as of 8/19/17. In my opinion, that is pretty low considering we have a “real” wallet software. Some projects have a 1 Billion dollar market cap with “no” product. Once the whales and short term investors cash out, this drought will end and we are free to achieve our true potential which is… $1000!!!
Just kidding. 
A more realistic target would be $0.50. That puts SAFEX in a reasonable 1 Billion market cap range. In order for this to happen, we must build the Chille Network.
Truth
The SAFEX dev team is small, which is why people doubt if they can deliver the Chille Network. There will be more pump and dumps until Chille is built and working. This is how the market works.
I was tempted to dump and buy back in at a lower price. But I’ve seen what happens when SAFEX flat lines for a little while. A huge spike shows up out of nowhere and I miss a ton of profit potential. I won’t make that same mistake again.
I’m 100% in and will help this project to the best of my ability. Belief in development is very powerful. But at the end of the day, you either have a cake you can eat, or just a picture. Let’s bake the cake!
This is just my speculation and not a prediction!!!
Why is SAFEX dumping?
Honestly, I understand why some SAFEX ICO investors and traders are cashing out. BTC (Bitcoin) price is at $4000, and probably going lower. Meanwhile BCC (Bitcoin Cash) is on the rise, probably going higher. Bitcoin’s price drop from $4500 to $4000 is negatively affecting SAFEX price. Even if SAFEX gained, the rise is being offset by BTC’s fall. I hope BTC will break $5000 but right now BCC is looking strong.
BCC vs BTC
Bitcoin Cash’s Network can handle transaction spam attacks while Bitcoin’s Network suffers badly. Bitcoin Cash transaction fees are also cheaper… just saying. If this trend keeps up, some mining pools may migrated to Bitcoin Cash, which would cause a further decline in Bitcoin. For now, the majority mining pools support BTC.
What about Segwit?
Segwit gives consumers and merchants instant cheap transactions off-chain. But it takes transaction income away from the miners. With a decreasing transaction income as well as decreasing mining reward… what do you think miners will do?
What about Segwit2X (Increasing the block size to 2MB)?
This is not guaranteed. I hope Bitcoin Core developers take the stick out their a$$ and realized we need bigger blocks beyond 2MB to handle spam attacks and increase demand from global usage. If Bitcoin is to become a global reserve currency, it needs to handle more than 7 transactions per second.
Will BCC take over BTC?
I don’t know. The day exchanges trade ALL alt-coins “directly” into BCC will be the day BTC loses it’s reserve crypto currency status. If miners devote more hashing power to BCC then BTC could be dethroned. Until then, let’s see what happens.
Oh, friend, i must disagree about your view about blocks being full in bitcoin blockchain. After Segwit became a certainty, misteriously, mempool gone empty. It is proof that spams are poluting the network. Block size is fine at this point.
Bcash may be faster or cheaper, but it is highly concenntrated in ONE miner, with about 90% of the hash. Why not use Visa then?
I mean, the beaulty of bitcoin is an always conflicted relation between miners, devs, nodes and users… Bcash takes power away of devs/nodes and delivers it to miners.
Lets see what happen, will a distributed system become a centralized one in the end of all that discution? History says so, just see what America was and is right now.
My point was spams did cause congestion which BCC was able to manage whereas BTC struggled. We don’t need a block size debate here. That’s what reddit is for haha.
I’ll concede with this point…
I think flexibility is preferable to rigidity. Hopefully, Segwit will manage massive transactions from attacks or increase global usage. That will keep BTC price up and SAFEX coins from losing value. I do want BTC to rise and benefit SAFEX holders.
You are right, it is not the place to discuss it.
But let me pull your leg just one more time lol. Rigidity is a plus when we are talking about trust. If all this turns out to be reserve of value, it will be so because rules were respected.
To be reignned by code was the motto of Ethereum… that The Dao thing destryed that forever…
I don’t claim to know much about the… usefulness of BCC, but to me it looks like it doesn’t have much of a reason to exist. That 90% number mentioned above is definitely not reassuring. If they are having problems with spam attacks at 1mb, why doesn’t the bitcoin team just increase it to 2mb? Or 4mb? There must be some kind of a reason they haven’t done this yet, even if the reason isn’t a very good one. There is something about BCC, some kind of feeling I get. I don’t like it. There is some kind of bad smell to it.
As for my previous comment, I thought that a lot of tech savvy people would be attracted to crypto. I guess they are, but for some reason I figured that would be what made up the majority. But with these negative delay comments, I can tell that isn’t the case. That’s typically what you see the most of, in terms of negativity. Even if they aren’t referencing a particular delay, you can tell the comment is indirectly noting that a given project is behind schedule. Which is exactly how you miss the boat when investing in software development. These people will take a little bit of profit, (or even a loss) sell, and then 3 months later the coin will of course reach new heights in price. Because of concern about it being behind an imaginary schedule.
I’ve even seen lots of people getting all bent out of shape when the dev said “We hope to have x done by x date.” Key word being hope. Meaning that it would be nice, but don’t count on it. Reading between the lines seems beyond these people.
Guys, let’s not forget that Chille coins will be distributed to us and this market will happen. This “kid”, no disrespect to Daniel but he’s going to make this project happen just like Mark Zuckerberg made it with Facebook out of a college dorm room. I’ve got a serious amount of Safex that I bought at 2 cents, I bought it along with TenX and Civic because these are great platforms that will allow us who made money in crypto (bitcoin and ether) to use it safely and efficiently.
@dandabek - is it possible to increase the size of your team to make things happen more smoothly? All of us here are very eager about Chille blockchain
Just a suggestion though
Yea IF you guys need some help I’m here
Within the Safex Slack, Dan told us that he is planning on hiring another dev so that he can focus more on Chille.