Convert Maidsafe coins to SafeCoins before the final Safenettwork goes live

Autonomi Network Token
1

Is it possible too develop SafeCoin as a side project that can be farmed and covert MAID too SafeCoin? And maybe the Safecoins can be used directly in the Safenettwork when it goes live our burned and a new updated Safecoin can be issued? If so I can see a lot of benefits from doing that,

1 Like
2

Well at least one negative side effect of doing this would be discouragement of people to buy SafeCoin when it first comes out. If investors see that a lot of SafeCoins already exist, then people will less likely to buy them when they are first released.

Also if there is one large concrete publicized release (like the current plan), it will be better in terms of getting people to invest and buy SafeCoin. People will not feel left out and more people want to invest at the genesis of a coin (as we’ve seen with all the recent ICO’s).

3

How can the safecoin be farmed without a network?

Or do you want to use an unfinished and insecure network when the safecoin can disappear or be stolen?

Who, in their right mind, would dare to change their Maid for Safecoin?

What publicity will the network receive if during that period, as is probable, something bad happens?

3 Likes
4

I don’t have any tech background so I ask the community. Maybe a limited network just to handle SafeCoin transaction? As I have understood is developing the tech behind the SafeCoin a small challenge compered to the massive challenges MaidSafe have overcome so fare.

Is the tech behind the SafeCoin so fragile alone that it need a full develop SafeNettwork to work and be “Safe” and not stolen?

My question is: Can it be done safely without a full autonomous network?

5

To begin to understand the Safe Network you can read the lasts post in David’s Blog, especially the last three.

In the Safe network the Safecoin is only one kind of Data, similar to others. And before the existence of the safecoin the network must assure the safety of all the data. Is not possible to assure one data (safecoin) and not the others.

That’s explain why, before the safecoin, we need to have a safe and tested network.

5 Likes
6

Also SAFEcoin only has meaning in the network when there is data to upload and retrieve. Until then it would be a fantasy coin, it’d have no meaning and nothing to base any earnings or spending on.

So without all the components there is no secure data and thus no use for the coin.

2 Likes