I don’t think unnecessary, but it willl probably reduce their tx costs and give them a way more secure transfer layer. The existing coins will remain relevant for the projects that backs them, a conversion to the SAFE Network will just take them away from miners, core devs and to simply focus on creating fun apps.
We need to provide easy to use tools for devs, next year we’ll work on a sketch of Cashflow.
Hi,
I don’t think it is a good idea to accept every possible token on a given network. If many tokens exist, we can assume that at least some of them will have low liquidity, which means that it would be very easy to manipulate their price.
So it would be a plausible scenario for someone to manipulate the price of a low liquidity token (by buying a lot of it on an exchange), then use the tokens they bought to pay a provider at the updated (high) price. The provider won’t be able to sell that token at the same price for sure.
Unless… the oracle that determines the token price takes liquidity into account as well. But that’s way harder to do, and frankly, I don’t see the point…
You make a good point, but the thing is do we really know the price of something, have your pick. What in your mind is the price of bitcoin or Ether at the moment here is a snapshot.
If everything can be manipulated, at a certain point you’ll stop looking at it like it is doing any harm. What is really important and what battle are we fighting? Coincap.io shows the fragmentation of these coins, emphasized with buy/sell options for some (yeah I know, not all coins are on Shapeshift, so that’s why it looks like that). There are 1349 coins right now on Coinmarketcap, most don’t have liquidity.
Yeah like this
You make a valid point, but what if somebody was painting the tape just to buy something at the updated (high) price, if the provider/s doesn’t sell that token it has no effect on the price. Unless somebody else feel like selling it at a higher/lower price, to get more/less money than the updated price. Ico are the best starting points for price discovery, you sell 1M for 10K SAFEcoin, the value of your tokens are 0.01 SAFEcoin each. Manipulation exists because you can use one token to buy another token, if you use the token to pay for a service only the price for a service would matter. If everybody owned a small % of every token, people would be less concentrated on the pumping/promoting of tokens. Technology behind a token and worldwide distribution is important. We are all amateurs with money printing, inflation, the freezing of bank accounts etc, are the real problems imho.
This is already solved with the Bancor protocol, now all they need to do is connect every Ethereum token to their platform.
On our ad platform you’ll be able to pay with every token and these will be distributed among the users, so I don’t really care. Pay with Seeds, Clikes, SAFE FS, GBTS or Scamcoin, whatever.
Hey,
Maybe I’m misunderstanding the meaning of “every” token. What if I create my own token of which I own 100% of the available supply, then I list it on a DEX and set its price to whatever I want (I can really do that since noone else owns any of this token)? Then i’d be able to pay any price I want to the provider that’s accepting all tokens, using this new token I created. How do you prevent this?
Just because everybody can create tokens doesn’t mean that every token brings value to the SAFE Network. If you don’t got a project that is bring any value to the SAFE Network and it’s community with things like (video site, blog or anything at all) I’m sorry we won’t accept your token. I’m not a supporter of people who print money, to better themselves alone.
For example our token will be used to fund our project and other SAFE Network projects. It can also be used to advertise on our platform with a 10% discount. It will also store value I guess, 1 token today is worth 1 day of advertising, tomorrow IF we have 1 M users 1 token will represent 1 hour of advertising, if you bought your token yesterday it still holds that value of 1 day of advertising.
Why I would support Scamcoin, let’s say that thousand people participated in a crowdsale (they fell for the pretty site) and the scammer is now gone (can’t print any more tokens) I would support the token because a lot of people hold it, maybe some people might even hodl it as a reminder. People in this space are really insane, if things don’t work out as they expected like the DAO, they get clueless. Clueless that the DAO tokens were worth $0,10 which is even more than some government backed currencies, clueless that they could use the tokens to still fund projects with it’s underlying value.
OK, I understand now. You will still have some screening process for accepting tokens, it will just be much more lax than what others have.
I still hope that at least you won’t accept tokens with centralized issuance though. 
