Hi there, looking to invest some money into Maidsafecoins. I’ve spent quite a bit of time doing my research and now have a very basic understanding of how the network works but I still feel I’m unable to grasp everything I would like to know because I am not a programmer. Things like the development updates and other things are just a bit too technical for me to really understand in detail. I was wondering if anyone can just give me an update on how development is going so far in plain english? What are the biggest possible hurdles going forward? I know its hard for people creating software to set an exact timeframe of when things will be finished, but for those of you who really understand the code so far, what would be your best guess on the development time remaining? Thanks! The Safenetwork is a real game changer if it delivers on what it promises. I am suprised that there are not more prominent people within the Bitcoin community talking about it.
I think the main challenge is to create a stable network that can handle all manner of devices joining and trying to take part in farming, as vaults. The tests revealed that to achieve this, there was a need to have vaults prove they can handle each task before allowing them to participate by being used for the task. MaidSafe have been busy working on the how, and are currently coding this up so they’ll be able to start testing this fairly soon. How much more work is needed on this after those tests start is the big unknown, and nobody will know until they happen whether or not this nut is cracked, or needs another “bash”
It is my impression that will be a major achievement in terms of: never been done territory (so it’s hard!), and also will open the way for MaidSafe to power on in other areas.
There are other important things to do, and protecting against major outages is a biggy, but my impression is that this is less hard, no less stupendous an achievement, and much less of a block to other activity, the most important of which is IMO…
Safecoin! This is easy to implement, but will be tested to death, so will still require some time. Testing with test Safecoin can’t begin until the stable public network is sorted though. It will be very exciting, and will I suspect be the point when bitcoin folk and many others begin to take note. It will create a lot of interest, and draw in a lot of attention, both helpful and no doubt also some deliberately destructive (more FUD for example) from those who fear this project, or have other reasons for not wanting it to succeed.
Once test Safecoin is going everyone here will be wondering when the network will switch to beta and Safecoin become real. I’ve no idea how long that or the above (earlier steps) will take though.
These are just my opinions, but I hope a still useful summary.
I can’t see actual safecoin implementation for at least another 12 months. That’s not a negative in anyway, just realistic. If you are going to buy maidsafe coins just buy them, and forget about them! At least till mid next year. I’'m pretty convinced this tech will take the world by storm, like BTC did. Happy investing!
A post was merged into an existing topic: MAIDsafecoin, Price and Trading topic
Thanks for the replys. Appreciate it. I’m interested in investing a significant amount of money into MAID but its hard to do a thorough due dilligence of it without having a programming background. It does look like the most game changing project in all of the cryptocurrency space in my opinion if it delivers on what it promises. I have heard David Irvine talk about how they need to improve on the lower end devices joining and leaving the network as well, and it sounded like this will be one of the final big obstacles to overcome.
I’d say even a good technical background is of limited help doing serious due diligence here because there’s so much innovation that no one can really judge it with any confidence until it’s in the wild. It’s certainly possible to reassure yourself about the intentions of the people behind the project, the brilliant and clever ideas that they have come up with so far, and some of the problems still to be solved (a lot more solutions ticked off than problems left at this late stage, so it is getting exciting). The biggest thing for me was coming to terms with how far the implications stretch and how unique the approach is. The concept is really quite incredible for the sheer number of problems it solves and the disruptive potential makes things like bitcoin and blockchain seem almost trivial. That’s not to say ‘blockchain’ isn’t amazing, but really if you’re impressed by the implications of trustless interaction and the power of decentralisation then datachains and SAFEs comprehensive solution can cover your whole digital world and will have a lot more potential to ‘wow’ any average internet user from day 1 imo.
I can easily imagine not wanting to use the legacynet at all once I can do most of the things I need to do online with SAFE. I’m betting everyone else will feel the same when they see what it does for them.
Personally, after a year of research I’m completely satisfied that IF the tech works as described and it is released in the next year or so then it will be huge. It seems impossible to imagine any other result in the current context. No one else is building anything quite like SAFE, despite all the decentralised internet projects going on out there.
Just my two safecents ofc. I’m just as biased as everyone else in every project, but I’m happy with my long position and I think the live network will herald in a paradigm shift for our digital universe.
Agree. Its baffling to me. Am I missing something or are they?
Maidsafe was the talk of the bitcoin town in early 2014. There were many notable people touting its promise. There were only a handful of startups back then so it was easy to get the attention of the industry heavyweights. The project has taken far more time than anticipated and the shine has worn off.
The shelf-life for frontpage news for the very crowded startup space is about 15 milliseconds now. After that its just Reddit and advertorials.
When Maidsafe launches and proves its worth, the heavyweights will return with supportive commentary - until then dont expect anything from “reliable/respected sources”.
I think that nowadays unless it’s is really profitable for trading in the short-term is not something people talk much about, and by this I don’t mean that if it’s profitable in the short-term is not a good project. Also I noticed that people sometimes criticise new projects (without understanding much about them) just because they fear the impact in their current investment/gains.
I’m speculating a little bit here and possibly regurgitating some previously implied ideas I read some where else on this forum or other internet sources, but would you be interested in a coin that allowed you to perform instant transactions or prefer one that takes 20+ minutes to confirm a transaction? Also the blockchain just keeps growing and growing. Anybody know how big it is now or how big it’ll be after even more people start using it? How much power are the computers consuming used to keep all the Bitcoin miners running? Yes they come up with ideas, implemented fixes for various problems they’ve faced but how long before a problem arises they can’t fix? With that all being said I’d be a bit apprehensive towards or would just merely overlook what Maidsafe is doing in hopes it fails or just goes away if I had invested tons of time and money into Bitcoin.
So these links give you an idea of the features that are being aimed to be implemented and what is completed. Its probably the most clear to understand without having technical knowledge and a great overview for those that do!
Thanks for that info. That sounds about right and that “makes sense” that a lot of ppl will react like this. When and if Maidsafe manages to pull of what they - almost want to say WE, thought I dont really contribute - are trying to it will be epic… can only imagine the mass medias coverage hehe… its a good thing that Maid is still sort of under the radar. They can work in peace, maidsafe coins is low… quiet before the storm…
If we were comparing Maidsafe with the timeline of Bitcoins, would you guys say right now this is 2011, 2012, 2013, or earlier?
Something like 2008, perhaps 2007 if history can be used as any kind of prediction for the future.
Would depend on what angle you take, development vs price. Development stage you’re probably right, price I’d say somewhere in 2010/2011? Where btc was sub $1.
Perhaps when you compare ‘like with like’ history can be used to try to make predictions. I don’t think there is much comparison to draw between the evolution of btc and that of SAFE though. I would not expect them to mirror one another at all. Such different animals with totally different functionality, history and potential. It’s like asking where Tesla is on the ‘railway and canal’ development timeline; it’s not on that timeline, it’s one all of its own that will be totally different.
I meant that the past delays in safe development probably put the timeline at 2007 rather than 2008. Absolute success would need to happen so that safecoin would be released in january. Read: the first disjoin groups release works flawlessly, data chains works flawlessly at first release, and the system is deemed stable enough after a month of testing.
Difficult to compare. When bitcoin was launched, Internet adoption just started to pick up and iPhone was announced (2007). I’d say the internet today is traditional “phone” before the iOS and Andoid disputer stepped in. I think with good marketing strategy & penetration of internet, it can really go viral. If, and only if it’s launched.
Imagine the potential market alone in China where people are dying for internet transparency. Taobao.com alone already worth USD28bil. Maidsafe market cap at the moment is only USD35mil. So while bitcoin took 8 years to achieves, it may be exponentially rapid for SafeNetwork. My own opinion anyways. haha
Maybe people could use this thread to translate whatever might be confusing to a newbie in the main update thread. Like everything but yeah. The devs do their best to give a tidy update of all the technical hurdles broken through. So hopefully/perhaps this thread could have dedicated members (if they’d like to) describing it in broader terms. Because sometimes the new terminology gets confusing, and past terminology might be better to explain with. Hopefully it’d be something out of excitement to let others know. Hopefully this makes sense; gotta go.