What to spend its income on uploading data to save the network, while its supposed to be spending the money on its charitable work. Please reference this statement with some context because I missed it.
Jim said the data protects the network. Valuable data. I asked him if Wikipedia is valuable and he said yes, and suggested other valuable data to protect the network too.
In my opinion, if the legal form of the foundation is changed, as David said it could happen, then the foundation will be able to upload such data with its income from the network inflation.
Of course, once the initial phase of the network is completed, the foundation can continue to help children for the next 100 years and more.
Or are you asking me for a quote from David? It is not in this thread. It was a few months ago.
1 Like
This is the post from David (Nov. 2020) I was referencing.
One issue I have been looking at is the foundation as a charity, itās great and protective but too protective. The rules are mental and it cannot do anything really with cryptocurrency or making profits (for the good). So there is a possibility we try to make it a not for profit org instead and hopefully that allows it to operate a bit more on the crazy side.
I am not a trustee of the foundation and will never make a penny from it or have any ways to get any advantage from it (tax or otherwise).
Itās all proās and conās but we will see. I feel a not for profit could be good if we can work a way that there is total transparency in all the accouitng etc. Not in any crypto trades or such though as itās too much nonsensse there.
1 Like
Nonchalantly doneā¦ mic dropā¦
3 Likes
If they are early adopters, I suspect they will get lots of MB per SNT. That is a pretty big advantage in itself.
It sounds like just reaching out to these folk, as maidsafe sound like they are doing, is sufficient. They will get great long term value and it will help to seed data on the network.
I expect amount of MB per token will rise in the longtermā¦ Do you expect the oposite?
1 Like
I expect the price of the token to rise with popularity too.
I initially didnāt take the op seriously because I was too focused on the exciting technology and the idea that the original designers and supporters will always have certain advantages over any fork. However, recent developments have changed my mind. I now think this will be one of the networkās biggest risk. Thanks @dimitar for consistently shining light on it.
The risk can be categorized into two main types:
-
Economic
If the networkās token economy model is not handled correctly, an early fork with a more robust economic model will quickly garner attention. The example of UniSwap vs SushiSwap that @dimitar linked to above was eye-opening to me. Essentially, the copy (SushiSwap) supplanted the original (UniSwap) and forced the original to adopt the same (greedy) economic model as the copy in order to survive.It will be important for the network to start off with a robust economic model at the outset so that it does not have to scramble later on to match a forkās model or undo self-inflicted damage.
-
Reputational
Going by some of the posts on the forum in the aftermath of the Jan 6 insurrection in the United States capital, the network may become a haven for the fascist types who willfully work to undermine democratic ideals while wrapping themselves in the flag and hiding behind freedom of speech, rights that they plainly deny others. If that happens, the network runs the risk of acquiring the reputation of being a haven for reprehensible content and people with non-peaceful views and predilections. The mainstream would not adopt such a network and a fork with advertised moderation and more wholesome image could quickly supplant it.Several things could help here:
-
Good content moderation apps/filters (there were topics on this front)
-
Trustworthy advocates to proactively and clearly explain to the public at large the nature of the network, both the bad and the good. These advocates will point out how the network can be used to protect sensitive data like health data and prevent abuses and hacks (hopefully there will be examples and comparative data by then). They will also remind the public of the needs for true, unalienable rights including freedom of speech, for all (not just for the in-group at the exclusion of the out-group) as long as it is non-violent. This message of rights needs to be accompanied with that of education and duty because with power comes responsibility. For the bad, advocates need to point out the powerful self-moderation tools and strongly make clear their opposition to reprehensible content and undemocratic views (the irony of fascists embracing a fundamentally democratic network!)
-
A variation of @dimitarās idea for a foundation; one that would focus on helping universities and other scholarly institutions store and provide wider access to the worldās most important datasets. Such a foundation could also donate free safes and generally help those who cannot afford/understand it upload their data.
-
7 Likes
Itās out of context really, I feel. The foundation cannot do these things as it is constrained. We have talked about allowing it to do more by making it a not for profit (lose charity status and tax benefits). However I cannot see that organisation being involved in crypto trading and suchlike. Itās goal is education and innovation support.
The foundation is very well funded when we launch and thatās great, but itās very much a one trick pony, it might just need some slack to work faster. As I say though I donāt see it ever investing or anything close to that.
4 Likes
David the only thing I am talking about is that the Foundation uses tokens to upload data for free for projects valuable to humanity as Wikipedia and the Internet Arhiv.
Doesnāt data protect the network by making it stronger? The trading thing is out of context. If I said buy somewhere, I said it in the context of buying a storage on the network with the token. No exchanges.
The Foundation uses the tokens MaidSafe receives directly. Do you think this is feasible?
And is this actually prohibited by law at the moment? If I donate a pen and a piece of paper to the foundation and the foundation uses them to record information on them, is that allowed by law? Because using the tokens is just that, recording information.
And what about if MaidSafe foundation will make a deal with company to keep their backup forever. Foundation will pay one time using SNT and company will pay monthly to support foundation for future.
This might be win-win as company will support rather than other company Scottish foundation and Maidsafe Foundation will help to protect Safe network while changing SNT to fiat to help other people.
1 Like
That is a problem, i.e. if you donate 1BTC to the foundation right now, it getās the 1 BTC and you then pay the TAX on that one BTC. You get yourself into trouble.
As paper and pen is a property then yes HMRC will want you to value them and pay tax on them.
HMRC are beasts with all this stuff, then OSCR bring you reams more paperwork and laws.
So if you say here is a token I want you to do X and X is not part of the recodnised charitable models the foundation is regulated on then the foundation cannot accept the token.
Thatās just the law man, and I agree it horrible and with charities, itās at times senseless, but it is what it is right now. I tell you itās a minefield and only us mortals need to walk it, HMRC and OSCR plant the mines and donāt tell us where they are.
2 Likes
David, please then consider the option of a separate Safe Foundation to receive additional inflation to help the network.
Sia made a hardfork to introduce such a fee in support of their network for their foundation recently.
The hardfork introduces a subsidy that will fund the Sia Foundation, a new non-profit entity charged with supporting, developing, and promoting the Sia network.
Sia is based in the US and the tax laws are different in the UK. As far as I know we donāt have the equivalent of US non-profits here (someone please put me right if Iām wrong about this).
Unlikely it could be Scottish, it took us 18 months and $50,000 to set that one up. Perhaps some overseas thing, but then ā¦
I am not sure what you mean accept inflation? If you mean accept funds to then transfer back to folk/network would it not be better to get a group voted in each with a key share in a way that group of people can be voted out any time and replaced etc. ?
1 Like
I offer Foundation because it is accepted in the crypto community. If you offer another form of help for the network, it suits me personally 
To bring the topic back to the important discussion.
My suggestion is to add a fourth point here:
- Farmers qualify for farming attempts at 100% of the Farming Rate (FR) (as modified by Vault performance ranking).
- App Builders qualify for farming attempts at 10% of the FR
- The pool from which Core Developers are rewarded for their contributions qualifies for farming attempts at 5% of the FR.
- 5% of the FR go to fund the Safe Foundation, a new non-profit entity charged with supporting, developing, and promoting the Safe network.
Ok.
This idea causes too much centralization. Weāre far better off supporting the network via a 5% PTP reward.
1 Like
Why do you think so? Ethereum has a foundation and no one has censored them - they have been working for 5-6 years now?