How much Safecoin do I earn for a gigabyte


#1

I wonder about the Safecoins and their value when the network will be launched. Let’s say I’m gonna be a farmer. After a while I deleivered 1 Gigabyte of data to the network and get rewarded in Safecoins. How much Safecoin will be the starting point for the network?


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#2

There is supposed to be somewhere around 30 million or so Safecoins per year divided among all the storage. I’ll be contributing about 100 Terabytes across 20 individual vaults. My expectation is to grab about 1% (based on Safecoin whitepaper estimates of 2000 vaults) of the total annual safecoin production. Based upon the quick sellout of the crowdsale, this percentage will likely be quite a bit smaller. This setup might be worth 100,000 to 300,000 Safecoins per year.

1 Gigabyte is 0.001% of that amount, so 1-3 safecoins per year. Considering that a vault will likely run you about $200 per year in electricity, you might be better off buying safecoins at $0.03 each rather than farming it with a single gigabyte.

$200 will buy you 6667 safecoins.

That said, if the price doesn’t rise above $0.05 per safecoin after a few months once the network is online, I’ll be losing a lot of money and will likely be having a sale on farming equipment.


#3
  1. He was asking “per” GB, not for a single GB.
  2. Cost of electricity is mostly impacted by the number of HDDs (especially as their number per system grows). A single 1TB disk attached to a crappy ARM system can’t cost a lot, so the calculation should be adjusted to reflect the cost of running a minimalist setup of 1 ARM system and 1 HDD.

Up to $8 thousand dollars per year (if we deduct main costs) from investment in 16 HDDs attached to a PC*?
Dropbox Pro costs $99 for 1TB (or $9900 for 100TB per year) so it seems a bit odd that MaidSafe could cost almost like Dropbox Pro. There may be something wrong in your estimate.

* I assume your h/w is written off over a period of 3 years


#4

I was tired yesterday so here’s some more today.

By the way if you’re wondering about 1GB of data served (not stored), I’m not sure.
There will be another price for downloads (and a separate for uploads).

First off, you can’t predict, nor influence, if data that befalls you will ever be downloaded again, so the question is not meaningful to begin with.
Secondly, if you go in with a single 1TB drive and comprise 0.001% of the overall capacity in a store where 50% of data is never read again… Well, do the math.
Thirdly, popular data will be cached by the intermediary nodes, which means you stand a 25% chance (since there are 4 copies) to get paid if you’re fast enough and data is actually requested, but then not again if the chunk gets cached and remains consistently popular.

I don’t think any kind of exact calculation of the type performed by Mr R is meaningful. At this time the margin of error must be close to 10X.


#5

How do you know about seperate prices for up- and downloads? Is there some info about all this? I heard first they wanted to make it in a way that even people without any coins could go online and use the network. Maybe that changed.


#6

Yes, on this forum.

I heard first they wanted to make it in a way that even people without any coins could go online and use the network.

That too can be found on this forum.

But that - if done - would just “give away” a small fraction of all capacity. It’s not going to impact whether you profit from farming or not (unless we assume profits will be tiny). Personally I don’t like it because I don’t like that some entity decides how much farmers should donate to freeloaders, but would that destroy some farmers? No, it wouldn’t.


#7

I’m not sure what @janitor means by price for downloads. AFAIK:
PUT by client has a one off fee

GET from vault creates a chance to farm Safecoin

In addition, the poster of public data may earn Safecoin according to how much the data is accessed, by tagging the data with a wallet address.