Farming = Content Delivery

It’s really cool, because it makes the network self-sustaining. In the end it doesn’t matter who you are, if you help the network, the network will recognize that and toss you some (or many) SafeCoins to compensate you. The SAFE network is an agent and “employs” people to help it out. At the same time it attracts people as clients.

I think we should definitely think of the SAFE Network as a… real thing. It may not have consciousness (though honestly, who knows for sure? :smiley: ), but it does have a degree of agency. A digital entity having agency with such autonomy and at such a scale is something I think we have never seen before. That realization makes me all warm and fuzzy inside! :blush:

12 Likes

Based on the wonderful discussions on this thread, I am buying more MAID. :wink:

5 Likes

Will it reward moving toward more secure hardware? What does calculation pegging at roughly 10$ for content mean and how was it arrived at?

1 Like

Based on the scenarios on maidsafe.net/safecoin

Year: 1
Number of Nodes: 10,000
Average Data (GB) Per Node: 16
Accumulated Attempts: 88,7400,000
Attempts Percentage: 2.07%
Coin Distributed: 2.00%

in the year 1 scenario

if 16 gigabytes are served from 10,000 computers in the first year of the network which means that 2% of the distributed coins that are farmed is 2% of 4.3 billion (total coins) is 86 million coins to be shared with 160 thousand gigabytes which means that

86,000,000 safecoins / 160,000 gigabytes = 537.5 safecoins / gigabyte farmed;

537.5 * 0.026512 = 14.2502 US this is the value of farming 1 gigabyte of space over 1 year based on the first year scenario of 10,00 computers average of 16 gigabytes of safe network material on each computer, and that there was a network churn of 88,740,000 farming attempts which would have generated a distribution of 2% of the safecoins.

I should note that this is at today’s prices based on the average at coinmarketcap.com
safecoins farmed times the current price of safecoin

1 Like

I see what you did there, but I don’t think it is a useful analysis. That projection is a wild guess for starters, and the current MAID price isn’t related to farming in any way whatsoever. Even the distributed coins/accumulated attempts ratio can vary wildly depending on over- or under-supply of resources.

I think we’re better off looking at what ISP’s charge for internet service (bandwidth and data caps), and combining that with average power and hardware wear costs. I think we can expect farming rewards to be a little higher than the real average cost of farming.

3 Likes

And why the ISP rental sublet scenario doesnt seem sustainable from either a cost or security standpoint. SAFE should be the basis of a new net both soft and hard and not just value added to a broken toll road system,

1 Like

That’s interesting :smile:

I see 3 types of network participants:
Data uploader (public/private) - PUT
Data user (public/private browsing, apps/services) - FREE, GET
Data provider (farming) - GET

So basically uploader is the network’s sponsor :smile:

Now I think GETs will outnumber PUTs + cashed popular data + live streaming (which will be free?) all of this puts huge upside pressure on the price of the safecoin. Just imagine if cam girls would migrate to safenet :smiley:

Fun fact:
“Video streaming and IP broadcast of the World Cup is anticipated to generate 4.3 exabytes of IP traffic”

http://newsroom.cisco.com/web/mobile-community/full-view-details?type=webcontent&articleId=1426270

That’s 1safecoin per 1GB of streamed data sure that’s not how it works but imagine say the same amount of traffic per year never touching the vaults. How is that compensated other than through safecoin appreciation? Through farming rate (FR) which is tied to resource availability? Initially as the network grows FR will have an influence on price but eventually as per above reasoning GETs will outnumber PUTs at that piont FR becomes irrelevant in terms of safecoin’s price it becomes the instrument to keep network’s health in check.

TL;DR - Long safecoins! :smiley:

1 Like

I also think there will be much more GET’s than PUT’s.

Yes, so when a lot of people are offering a lot of freespace, the reward will go down. So a lot of farmers might stop when they don’t make money on farming. Then the network will adjust FR again so a little more is payed to the farmers, so more will show up again :slight_smile: Wouldn’t surprise me if farmers will use an automated system for this. So when there’s not enough money made in 24H they’ll shut down some Vaults/space until prices are back up again. They need prices to cover hardware, bandwidth, electricity etc. And they want some profit. So I think the network will adjust itself in a magical way.

2 Likes

Dedicated farmers using equipment that requires that they monitor it this closely will be at a sever disadvantage. Most of the network will be backed by spare resources which people already have or will get with extra resources anyway. These are who is favored by the model.

Me, I’m up for running an economical set of farming machines, especially early in the network evolution, because that’s when more safecoin will be available more “cheaply.” But as the network matures, and more and more people get involved, it may become a bit more marginal to run dedicated nodes. Not sure.

I see what you mean, though. I don’t look at like blockchain mining, though where the reward blocks are larger and expenses to mine are much higher.

2 Likes

Yep, I just realised what kind of beast safenet is. ISP slayer! Harbinger of death for a middlemen :smiley:
The uploader pays once for space but twice for bandwidth and electricity. That’s an incentive to kick the latter two out of the equation.

2 Likes

Love that comment. Hope very much that its true.

Yes but HOW do you do it? We need MOAR mesh NAO!

Also you’ve got to consider that you can get paid for producing content as well as farming.

1 Like

Not needed NOW. Incentives will ensure that mesh, etc., will follow. But for starters the network will operate securely over existing infrastructure. Attrition of ISPs will follow as the network builds and micropayments for decentral infrastructure come into play. Then millions can share the wealth that ISPs harvest now.