Let’s say that I want to upload 1TB of data right now, that’s not really possible (no wonder we are in Alpha, blablabla, hahaha). Let’s look at a future scenario, what if I want to upload 1TB of data and I don’t have SAFEcoins and don’t got enough money to buy SAFEcoins at an exchange, because 1 SAFEcoins is now worth $10 for instance. This setting makes it clearly impossible for me to upload my 1TB, how do we solve this problem? The idea is that the SAFE Network grows no matter what. A growing network is more valuable than the fiat price of a SAFEcoin IMHO.
I only had the idea of bootstrap data this night, while waking up, so please don’t silence this lamb yet. The idea behind bootstrap data comes close to Alexandria’s “pin to play” (it lets users trade something of value other than money for the content they’re looking for).
Imagine if you can upload data (1TB in my case) on the SAFE Network without immediately paying for it. Basically other people would provide storage and you can make use of that. Huh, but everything that’s uploaded to the SAFE Network costs SAFEcoin, hmmmm maybe not really. In our current Alpha test we’re able to upload data without a “activated” cost.
With bootstrap data people are basically buying time, getting something today that you would have got yesterday or not at all. How would bootstrap data work? You provide storage, an uploader doesn’t pay SAFEcoins immediately, but later on pays the storage provider through farming, pay to the producer or application revenue. Who knows this could be a hollywood blockbuster, that the storage provider could watch one time for free.
Bootstrap data can’t be deleted, unless the digital debt created through uploading it, is fully paid. The question is how do you determine the storage provider and pay out. This is where it gets over my head and I start to get a headache just thinking about it. Bootstrap data is a mechanism to counteract the sudden price rise of SAFEcoin which could make it expensive to upload files. Every file that is uploaded is network growth and if people can’t farm first or pay first, maybe they should have another option. To not have a total floodgate of digital debt, there could be milestone like 10TB bootstrap data. If the next wave of people want to upload bootstrap data, they have to collectively help pay the first wave’s bootstrap data’s debt.
I don’t know if this makes sense or is even possible, but every uploaded file is network growth. Once we have computing on the SAFE Network, the logic is that it wouldn’t make sense to pay a monthly fee + scaling costs to run your app on Amazon AWS, Google or Microsoft. What do you think?