Could SAFE become the victim of Bitcoin evangelist animosity?


#1

Consider the hypothetical situation in which after release SafeCoin threatens to overtake Bitcoin’s position as the number one crypto-currency. With SafeCoin’s superior feature list and a higher market capital, I think Bitcoin’s value would eventually suffer severely from the status loss.

Undoubtetly there would be Bitcoin evangelists with vast capital in Bitcoin who missed the SafeCoin boat who would feel severely treatened by the rise of SafeCoin. Do you think it could unleash a crypto-currency war where such people would use their capital and tech skills to try to disrupt SafeCoin’s market? Perhaps by inducing volatility in the SafeCoin market, or DDOSing/cracking SafeCoin<->Fiat exchanges? I believe that could really hurt both SAFE and the crypto-currencies phenomenon in general, and I can’t think of anything we might do to counter such efforts.


#2

I wouldn’t worry about it. Usually people use their capital and skills to make more capital, not to wage war because they missed the boat. More likely they will try to get onto the SAFEboat too :wink:

not much they can do against it anyways


#3

The hypothetical situation appears to be a most improbable one. In order for Safecoin to attain this position in the 1st place, most large BTC holders would have traded to Safecoin either along the way or by the time it achieved top status.
I think most people use bitcoin as an investment and if returns look better elsewhere, then they’ll just switch.
The motivation for anybody to disrupt the Safe Network for personal financial gain particularly for bitcoin holders does not seem to me to be a concern - Bitcoin devs/ foundation etc maybe…but I don’t really see it. Financial institutions, Corporations and Govts …they seem to be the people with any real motivation to disrupt.


#4

Yes, the bitcoin dev environment is ossified so far. Consider yourself an engineer just finished learning about bitcoin to the end, made a product got funding, and now there is this thing MaidSafe comes along; such a person could be damned if they started following down a new path whether it is a better one or not, that moment is just simply not for them.

And this is basically how the system exists. Also the models of such bitcoin developments and startups are also operating without the consideration for MaidSafe therefore they also could not have planned attacking SAFE Network since that action too had never been in the plans.


#5

Dude, what could anyone possibly do against a completely decentralised network?


#6

@seneca, My thoughts are the value proposition that Bitcoin has to offer and Safecoin are kind of divergent at this point, not by much but enough to keep the two going indefinitely.

Bitcoin has a marketing clout(Brand) that has build up over the years and even though safecoin may become its equal in market terms at some point, Bitcoin offers a transparent ledger that will still garner some serious use case while safecoin offers a lot of interesting additions.

Aside from that Most Well known guys(dev) that I see in Bitcoin are respectable people and would likely not engage in that sort of war. I wonder whether for Safecoin, the initial killer app would be storage and then as time goes by, all of the other goodies. Interesting times…

Edit:
Additions, in fact I wonder whether the blockchain bloat issue that Bitcoin has may not have been solved indirectly by Safecoin/Maidsafe.


#7

I would never underestimate how quickly people flee a sinking currency. As soon as the market comes to believe that Bitcoin might collapse, it collapses, in hours not days nor weeks.


#8

I’m here because of the Bitcoin revolution. I start coding again because of Bitcoin, Although I have a very small stake in Bitcoin, I am hoping it will go far.