Really, I am hooked. I have opened this thread in Reddit, but got no answer there.
I think the chances to deliver are small, but if the vision is implemented and achieved, bitcoin and other blockchain-based tech will get obsolete. So I am ready to place my bet.
I have a few questions though:
How do you reconcile the fact that SAFE coin will be deflationary with a limited supply, while data is inflationary by nature ? It is estimated that the world will produce 7 zettabytes of data every year by 2020. What if SAFE Is successful and we come upon the 2^32 limit after a couple of years ?
The coin has to be divisible, because you can’t sell to the mass decentralized storage, if the quantity of storage is limited. I understand why we put a hard limit to the supply: Every crypto has to have incentives and reward early adopters, but I feel that when we reach the limit, the money supply has to be increased to handle capacity needs through some sort of mechanism (ideally proof of stake).
However how do you divide coins, when data is dependent on them ? The data will already be fragmented on closed group, so it will be impossible to devide the data into further bits.
This is the main issue I see from all my reading. if someone could address my concerns I would be very grateful.