This will have a good psychological effect on people and incentivize them to donate resources.
Imagine that you login with the safe browser, set up a vault, and surf the safenet. When you first logged in you see at the top left of the browser a safe wallet balance of 0 safe cents. After surfing for a couple hours you notice that your safe wallet balance has increased to 36 safe cents. Now it’s time to quit for the day. Instead of shutting off your computer, you hesitate and decide to leave your computer on. You go to bed excited to see what your safe wallet balance will be in the morning.
If it is adopted as a mainstream technology, then I guess it could reach around 22x Bitcoin’s peak market cap so far.
$450bn or so would be required for $100 per coin assuming most of the Safecoin had been generated, which isn’t something I’d bet on happening, but it’s not impossible. If it became widely used as an easy, fast, secure crypto currency plus wide utilisation of the Safe network, who knows where the value of Safecoin could go.
Hi guys, I just signed up to make my first post on the forum, but I’ve been actively lurking since the BnkttF.
Perhaps one way of ensuring accessibility and a low threshold would be to introduce “LiteSAFE” or even “SAFE-DOGE” (these names are just to show analogy with BTC) coins to be farmed on the same network where SAFE coins are farmed. These coins should have higher supply and lower PUT/coin specifications and could be mined with low spec systems.
To keep the SAFE ecosystem non-inflationary, this would mean that an equivalent amount of SAFEcoin would be locked up to allow for the creation of these low denomination SAFEcoins. The (exchange) ratios are defined as per protocol and not subject to speculation.
If for whatever reason the difficulty lowers, low denomination coins can be destroyed to unlock the original SAFEcoins.
What are your thoughts on this, would such a solution (perhaps with further tweaking) work to allow for fractions of SAFEcoins to be farmed?
If you search for SAFEcents or similar you will find a number of discussions on this concept. Another similar idea is to incorporate the coin division into the rewards and reward people for each GET. Albeit a very small amount they will see rewards coming in very quickly,
How is market cap determined?
Ethereum was at 900 million market cap in Jan and now its close to 4 billion market cap. Thats quite a jump, how did that happen?
It’s just market price of coin multiplied by total existing coins.
~90M*$44.50=~$4B
Big drivers of price run up have been Enterprise Ethereum announcement and instability in Bitcoin
Guess no one would be able to predict what the marketcap for safe would be once it goes life. Just as how unpredictable the crowd sale was - over within a few hours as opposed to a stretch of 30 days…
Right. This is why Ethereum has gas. In SAFE parlance, this would be like having PUT pricing decided by the market price accepted by farmers, with the PUT price being priced in SAFEcoins.