After SAFE launches, how will SAFECOIN be traded?

Will it be on regular exchanges?
Will there be a feature on the network itself, like SAFEX?

2 Likes

The usual exchange will integrate it. And decentralized !! exchange Safex -> where we dont need to deposit to trade for crypto currencies and things like tethers to get fiat.

4 Likes

I like this answer, will SAFEX be ready to implement by launch time?

1 Like

@Secretariat415 Yes, by the time Safecoin is live Safex will be complete. Towards middle/end of February we will test something. March is my planned Beta launch date so if test_safecoins are there it will be rounded up.

Also, I’m sure to be around to hear from you and everyone else additional features that will arise. The first version is to be simple and if you were able to see the Alpha GUI I had release in November you can see what it will take shape from.

3 Likes

@dallyshalla can you provide a link in the previous comment of Alpha GUI? Really excited for you by the way, great project!

2 Likes


Build is broken at the moment, expect some many new commits (including command line version) starting end of the month. But here is the github link that was generating that screenshot.

5 Likes

Trading SAFECOIN for crypto, that I understand. But how will you trade for fiat? Won’t you need to be integrated with the banking system, like coinbase? Then you will have to be compliant like coinbase is. It won’t be decentralized anymore.

Also, why is SAFEX a separate project? Why not put it under the umbrella of the regular Safenetwork development?

1 Like

The protocol will not need to be like coinbase. But the protocol will accommodate a group such as coinbase with banking contacts to conduct trade for safecoin.

As well in development is a system similar to localbitcoins. Folks escrow their coins with a pre-agreed fiat delivery method. Then the trade gets carried out. Additionally to this, people can be fiat merchants.

I don’t really see safex as separate, but it is definitely a layer over the safe network protocols that are the data transmission protocols. Since it uses structured data as it’s mode of data transportation it is not that far apart from data storage, etc though such a system has a set of specific criteria.

3 Likes

If you can do all that in a month or two I will be very impressed. I’m worried that the Safe network will be ready and have to wait for SAFEX to be implemented. Or we will be earning Safecoin on the network with no exchange up yet.

If SAFEX is a part of the Safe network project, why did it have its own crowdsale? I still see it as seperate.

1 Like

The exchanges such as Poloniex will trade SAFEcoin, they have even asked when the swap from MAID to SAFEcoin will occur

Because it is not part of the SAFE project, but one of the first Applications to start development for the SAFE network. Important difference. safex is a different project to the SAFE network project, the same as safepress is yet another different project.

You may wish to read more on that subject

And a thread on SAFEX

4 Likes

Thanks neo this is helpful.

2 Likes

@Secretariat415 I think it’d be important to note that I am not starting from ground 0; I’ve plenty of little apps to combine into one; and a notebook with clear plans to keep going.

Crowd-sale to me was essential because I used to earn income with trading bitcoins, and that cut into practically all of my time. To really get the whole picture together it will take my commitment, so I’ve put trading aside and am moving into a space away from cities and interference where I can thrive and be at the editor to put that down for us. I know this will happen because I’ve done it before like this and had great success. I’m tapping into over a decade of experience with trading software. I’ve experience with Rust, Safe Network mechanics, and have built very many applications in the past related to trading and diligently, this is my right and left hand.

5 Likes

Do you have a page that describes the design of safex? Who is in control of the escrow that would allow arbitration of disputes? And if this is like LBC what mechanisms do you have for feedback and the abuse thereof?

I have not yet publish a technical specification

There is no one size fits all. People should have a choice whether to use some arbitrary group or to pick a specific person to be involved in a dispute process.

Safe Exchange Coin holders can comment and vote feedback on contracts.
The tools to deploy a LBC are going to exist, but that is not just only what safex is for. As mentioned safex is a tool box for people’s trade and finance objectives.

So then I will definitely demonstrate and assist in bringing up marketplaces that employ those tools.

You’ve won me over!

Is this to be operated solely on the Network, or on the clearnet as well?

1 Like

I have a feeling that some folks would still offer their service and also consume that service on the regular internet. Although such an act would be compromising, people still get duped into the wrong things all the time.

I do hope that there is enough education that we would prefer to use the digital protection the Network offers us. It seems appropriate to exclusively endorse FOSS and Safenet back end exchange services.

So a closed-source exchange with safex mechanics would be beneficial to the exchange service provider but not the customer, since what is being gathered is unknown to people who use it (IP address through their web servers for example). Though if such a group came about with a private usage of safex tools, that’s fine they would have powerful tools to keep themselves secure and their “customers” information secure from not themselves (the closed service provider).

I can’t see why a money transmitter would use a 3rd party service, when they can just download a FOSS client that handles lets say in person transactions (safecoin for fiat) what for use something exactly like localbitcoins (a website, and 3rd parties holding your deposit)
The money transmitter need only use the standard client, and all of her information is her own.

It makes one wonder, the current internet and the services and who the incumbent providers call customers, it’s like one example: localbitcoins has merchants who have customers, so localbitcoins has customers who are merchants, and the merchants have customers who buy bitcoins… It’s excessively redundant. There is no real need for this double customer phenomenon.

The days to come, the merchant is equipped with software with which they can deal with their customers, without risks of a further up the chain provider.

I imagine something like gmail, if google servers liquidated, all the gmail emails are gone. Something like too big to fail, centralized requirement of google to uphold its servers.

And then compare that with a safe Network, anyone can uphold it independently with practically any and all amounts of computers. So a bad decision here or there by some ‘leader’ doesn’t affect the whole. Yet if google ‘leaders’ had some bad decisions everyone’s emails are collapsed google has hierarchy and organizations and systems like it.
My mind reflects on how leadership is not intended to be hierarchical. If something is a good idea it should be done across the board, safe network’s connection is plenty of a good idea and it allows for all people to lead themselves with their digital representations and information.

3 Likes