Idea for divisible Safecoins

That was suggests about a year ago.

Some thought it was a violation of the crowdsale terms for buying maidsafecoin. Personally I thought it was fine by the crowdsale. X SAFE coins per maidsafe, noone losses. But they thought it would be a devaluing of their “investment”

Another is that each coin is a SD object and to maintain the crowdsale terms the farming rewards would have to be adjusted to return the same actual value. So 48/64 means the farming rate has to be some 65K higher in terms of SAFEcoin.

And then the crunch is that now a 100 dollar transaction requires 65K more coins (SD objects) transferred through the secure transfer system. Basically it puts a 65K extra load on the system for each payment that would have been more than one 32/64 SAFEcoin transaction. This allows the relatively new network to be brought down by transferring relatively small amounts (< $1000) continually by a few people.

Then to top it off there would still be a call for division because 48/64 would still not give micro transactions when the equivalent of 1 MAIDSAFEcoin is over 6.5 cents. To reduce further (say 52/64) would make transaction loads a lot worse.

2 Likes