What will happen when the market value for Safecoin reaches $1 and a user wants to send an email? Since the smallest amount of Safecoin that a user can spend is 1 Safecoin, does that mean the cheapest email that a user can send is one dollar?
Not at all, you will charge your account with minimum of a safecoin. The ClientMAnagers will reduce your balance till zero and you need to pay another safecoin, that could be 10 mails or 10 billion mails worth depending on the safecoin price. Before it’s 10 billion mails I am pretty sure it would allow splitting safecoin down
You will pay for mail attachments as if they were chunks of data that’s all. The network does not need to only consider single safecoins for this kind of activity.
I think your title is a bit out of control in the thread there though
I thought the coin is immutable? With only 100kb data that is mutable which can be used to link to data structure?
Are you saying that the coin itself could use as a packet(like tcp/upd) to communicate? Effectively, it is encrypted packet inside of encrypted network? That’s crazy.
If you send a user an email with an coin, then the user use that said coin to send it back to you with different data because after all, 100kb is mutable. He could delete that mutable data, and insert new data.
This means that parties should/could set up a limited coin transfer to establish the communication. Say, I would happily transfer 100 coins to you, but you need send 100 coins back to me. Now you got a effective email / chat system.
That is incredible.
Thank you, I aim to please
It is, think of the network as a big computer program. It can accept a safecoin and do a zillion transactions for it or 10, its able to adjust this number in real time as well. So it just means the network needs a minimum of a safecoin and it can subdivide it basically, but dynamically and not involve those pesky humans in doing so.
There will also be some smart things we can do there, I am positive ideas like you show here will take root at sometime and shock and surprise us all
The distinction is between payment for an amount of network resource, which is done in minimum of one Safecoin amounts, and the amount of resource that is consumed by an action (such as storing a file, sending an email etc.).
When you buy resources, you must buy at least one SC worth, when you use them, the amount consumed can be much less.
What do you mean by subdivide a Safecoin? Does this mean I can own 0.01 of a Safecoin?
Yup, you need to buy at least 1 pack of salt to create an account, but you don’t use all the salt at once. On your eggs in the morning, you only need a little of it So the pack of salt can be in your kitchen for months, supplying you the little you need every time. So when Safecoin goes to $2,30 the price to send an email might drop to $0,23 cents, or 0,0001 Safecoin.
Yes. You could send .00000001 coin as an email.
Could I send 0.00000001 Safecoin as a tip to another Safenetwork user?
I thought I read somewhere that the dev team was trying to avoid subdivision of Safecoin?
Anything is possible. Remember, there are no fees. So you can send the lowest common dominator to someone.
This is incorrect, SafeCoin is not like Bitcoin and all. SafeCoin can
divide far more than that in theory, but it has to be explicitly
enabled in the code. This is because unlike a Bitcoin, a SafeCoin is an
actual data entity. Bitcoins are just balances of addresses on a
blockchain. A SafeCoin is a data entity (object) that has an owner field
which contains one or more public key of the owner(s) of the data
entity. It has to be recorded in the SafeCoin itself that it is divided
into parts. This creates extra overhead, potentially a lot, so the
current plan is to only enable divisibility when the SafeCoin market
price warrants it. This is no obstacle to your concept though, because
virtually unlimited asset tokens like SafeCoins can be created for
whatever purposes we want.
Not for a long time I hope. We could subdivide forever given the resources, but at some time it’s got to make things harder for humans to understand an X point decimal system We really don’t need it for now I don’t think. IF the price goes wild then that may change, but we will see, many services can do what the network will do and use parts of safecoin without actually having to transmit subdivisions.
We will always want more though, won’t we, us pesky humans strike again. For sure there will be RFC’s before then, it’s a big issue to alter the number of safecoin parts.
Given infinity and infinite resources
Thank you for the clarification. Now stop slacking and get back to work, the world is not going to save itself
could always add a 0 to the total safecoin lol
Agreed I am off again
Them theres fight’n words
Edit: we could always let the federal reserve maintain the Safecoin supply ROTFL!!!