Maidsafecoin Distribution


#1

Is there any roadmap on the distribution of Safecoins?
How many coins will there ever be ?
When and how will they be distributed ?

EDIT: I just found this thread : Safecoin distribution pegged to year or no. of nodes?

But my question is now, since there is only about 10% of all Maidsafe distributed yet, how can it be that the marketcap is so high already ?
I mean if you include the inflation rate the marketcap would more like 400 Million $ already ?


#2

Ther total amount of maidsafe coins will be over 400million at some point, The coins will be distributed on a proof of resource basis, So In other words people will give up any free hardrive space that they may have to the network and then recieve maidsafe coin as payment.


#3

it will be 2^32 so 4.294.967.296 ? Not 400 Million ?


#4

yep your right, my mistake.

The market cap is so high because a lot of people have faith in the project.
Imagine If you had the ability to buy shares in the internet, That’s basically what we have here. Maidsafe is essentially, The internet 2.0 and maidsafe coin are exchangeable shares in the project. Once the project is in full swing, safecoin will be the only currency that’ll be excepted for use of the network so the coins themselves will actually have use and won’t simply rely public adoption in order to hold value.


#5

It’s also important to remember it will take a VERY long time for those 4bn coins to get into circulation, and if that ever happens then safecoin will be fairly ubiquitous and we’ll all be rich ;). It’s not like when safenetwork launches 4bn coins will be created, they will be slowly generated and they will constantly be destroyed/used/recycled at the same time. Each new coin created represents new value that has been added to the network in terms of its resources, so the slow inflation effect should be mitigated by the added value to the network… or at least that’s how it seems to me.


#6

ok that makes sense.
But we still have to trust the developers to do so, its not written in code yet right ?
but i mean they won’t do anything against the project itself


#7

It will be in the code, you don’t have to trust anyone once the network is running - god forbid tbh!!! The coins will be allocated based on the resources provided. No one will be able to fake it or create more coins, much like with bitcoin mining, the rate of coin creation will be limited and will become more or less rewarding for the ‘farmers’ depending on the competition they face with the resources they provide.

It’s an insanely clever project with staggering implications dude. We’re not just crazy fanboyz… I hope :wink:

Keep asking questions and researching though, there is a lot more to learn once you get past the ‘coin’ part. I’ve been on here every day for the best part of the last year and I still have my mind blown on a weekly basis.

Keep digging down the rabbit hole bro, there is sooo much to discover if you’re getting interested. Many helpful people willing to answer any questions too.


#8

thank you very much.

i still don’t understand the whole process, where can i find a good explanation on the “mining” process of maidsafe ?


#9

It’s called farming. You could search the forum for ‘farming safecoin’ and topics like these will pop up: