Bitcoin is creaking, it's going to break. SAFE coin is the future. Also for BTC Price&Trading discussions


#21

I keep hearing about the moon. Just wish it would start to move in that direction


#22

You just need a second security factor. 2FA tools are pretty common now and safe net just needs a way to integrate one (obviously in a safe, decentralised, way! :wink: )


#23

#24

Well, safe net won’t have backdoors via a negligent service department, as it doesn’t have one. Moreover, if the authentication transmission is secure, it won’t be easily intercepted. I would assume any safe net 2FA will be just as secure as the rest of the safe network.

The theory of 2FA is good though. Having a known, clean, second device used to authentication is a sound concept.


#25

OK, sounds good.
Thanks.


#26

Yea, I understand, we all want to see the price rise. I don’t think we’ll see much until it starts transacting on the safe network. Safecoin is a relatively long-term (for cryptos) investment. There is another perspective on this, however. Some don’t want the price to rise right now because they want to invest more before it does. Everyone that invests in a good coin, eventually wind up wishing they had invested more. I know when this coin hits the safe network that the price will rise. Another factor will be the increased activity on the network; this will also drive the price up. Until then, safecoin will just kind-of linger. But like I said, that’s good for investors who want to use the time to invest more at what they believe to be a low price considering the long-term.


#27

I look forward to the launch. Patiently but eager. Exciting year 2018 will be :slight_smile:


#28

Yes, that’d be exciting year for MAIDSAFE coin and the SAFE network as well.


#30

I beg to differ. Bitcoin is not creaking or going to break. As the leading cryptocurrency it is being tested, and each “win” makes it stronger. It has dominant position and historical track record of security and growth on its side. I see no reason to diss Bitcoin while supporting MaidSafe - I’m “all in” on both :slight_smile:


#31

I agree with you but I think we will see niche coins in the future that will satisfy small retailers and consumers. Bitcoin has a way to go and Safe should open up a whole new world, hopefully in the next couple of years


#32

That quote is how I hope it plays out. My overall interest in coin is minimal. The network is the most important piece of the puzzle to me. So buying into it via space is optimal.

I hope we will be at least a few steps away from bitcoin when this happens. I think the blockchain, is an impediment to SAFE adoption. The ability to buy SAFE Coin without buying into bitcoin is huge in my opinion.


#33

Too many forking happens in 2017 :roll_eyes:.


#34

There seem to be many bitcoin holders who believe that bitcoin can be a store of value before anything else. I think this is a big mistake that will cause a lot of pain in the near future.


#35

It depends on what you mean by “store of value”. I would suggest that Bitcoin is too volatile to be considered as such at present… although one could argue that it has proven to be an “increaser of value” :slight_smile:

I do believe, however, that Bitcoin’s increasing price is the necessary driver to wider adoption, and that Bitcoin as “currency” will come later.

No one “holds” forever. Each person has a magic number at which they will begin exchanging Bitcoin for real world goods - whether it be for a house renovation, an overseas holiday, a new car - or even a new house.


#36

If bitcoin doesn’t become a viable currency soon, some other cryptocurrency might instead. If that happens, bitcoin’s value will probably plummet.


#37

I totally believe in the store of value story.

I see a future where all 21million bitcoins have been mined, Bitcoin is trading a million dollar a piece and it costs 500$ of transaction fee to do a bitcoin transfer


#38

That’s all fine while Bitcoin is useful as a currency, but as soon as another crypto currency becomes the primary crypto for payments & transactions, holding Bitcoin becomes less worthwhile. This could reduce demand & see Bitcoin’s price tumble, reducing confidence & nullifying any chance of it being a useful store of value.

If Bitcoin doesn’t remain the number one crypto currency, I don’t see how it’ll maintain any useful role as a store of value.


#39

I’m inclined to agree with @SwissPrivateBanker. BTC can just be a savings account and a store of value. Something you pay in to and very rarely withdraw from. It’s hard money. I’m not sure about $500 tx fees, I think it’ll slowly scale enough for its own needs, but not to be currency. You still need soft money that’s stable for budgeting and pricing. It’s not just about scaling, it’s about being fit for purpose. Other cryptos can compete with fiat to become currency now if they want, but they’ll need to be stable from the start imo - which means no big wins for currency investors as far as I can see it? Even if BTC eclipses gold’s $7trillion cap it still won’t be stable enough for businesses to base pricing and trade at large scales, or for poorer households to budget to the penny each month. Margins are everything in this world and volatile currency is unacceptable. Hard money also tends to have a low velocity because you’d rather hodl it than spend it. That’s no good for the economy or ecosystem if it wants to be a transaction medium.

Why are Platinum and Palladium worth less per ounce than gold even though they’re more industrially useful and rarer? BTC is there. It has cemented its place as store-of-value now imo. I too see a world where BTC trades over $1M a coin, but I also see SafeCoins trading at $thousands per coin in ten years too, so I’m clearly a rose-tinted crypto-optimist :crystal_ball::stuck_out_tongue_closed_eyes:


#40

I could be misunderstanding something, but if BTC keeps on rising, so will be its electricity consumption (supply and demand) to a very high level of waste: https://www.thebalance.com/how-much-power-does-the-bitcoin-network-use-391280.
Maybe Bitcoin can adapt to be less wasteful, but if not, I don’t mind that it dissapears on the long term.
For my store of fresh food, I also rather want an a+++ fridge then a c or b.


Who is behind the Maidsafe Twitter account?
#41

Bitcoin’s energy consumption is not “waste” - it is the justifiable cost of securing the world’s most valuable crypto.