MaidSafeCoin (MAID) - Price & Trading topic (Part 1)

There are 2 use cases for safecoin.

  1. Payment for network resources -

Let me re-frame your question. Blockchain coins do not have coin destroy, they are just printing more and more. The less they are printing(like bitcoin halving) the more is price pushing up. Mining of coins means that at any point in time, all time stored data + whole network infrastructure maintanance has to be covered by newly minted coins. So in fact if network is successful all hardware on it has to be paid by coins created as reward to miners. The more all network hardware cost are, the more should coins be worth and vice versa.

  1. Any other payment services. Since safecoin will be anonymous, with 0 fees and will allow micro-transactions in real time, it will be the only choice for micro transactions on both Safenet and old Internet.

Coins used in second category will not be spend for hardware resources but will be used as real money. People will not destroy them, so network will not be able to use them as reward for miners. The more coins will be in this second category, the less will be available for destroying and mining in the first category.

So, let say, if first category will be 90% of whole safecoin economy than it should be much cheaper than if it is only 10%. On first day of the network category all coins will be in first category, but in long term the more successful network is, the more use-cases will safecoin have and the more will the second category importance grow. It is possible that in the future ratio will change to 1:99 in favor to second category.

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I wonder the same thing Jaco .

In the equation of exchange mv=pq. The higher v is the lower p will be. Maidsafe coin seems like it would have a very high velocity.
m = money supply
v = velocity
p = price level
q = quantity of goods being purchased

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mv = pq

mv/q = p, Higer money supply or higher velocity gives higher inflation on services and goods ( higher price), if you can buy a higher quantity of goods with the same amount of money supply and velocity, the price of goods and services goes down.

Would you please elaborate alittle in what way this money supply and inflation theory is applicable to the price of services and goods on the SAFE-network. At a first glance I dont quite see how this theory can be fully applicable on calculating prices on the SAFE-network. If the demand of Safecoin goes up than price of Safecoin goes up and it will be more profitable to farm, more vaults will be created, when more vaults are created than the free storage space on the network increases and the network adjust so that farmers gets less Safecoin and the relative price of storage goes down. So the price of storage is related to the networks supply and demand of storage.

I would also like to expand further on @Antifragile and say that there is a third use case for Safecoin and that is as a store of value. Data is seen as a new asset class by the World Economic Forum. Safecoin will be traded on exchanges and therfore the price of Safecoin will also speculatively reflect the value and future value of all secure data being stored on the network. I’am alittle tired so maybe I dont see the whole picture here.

Anybody follow this guy on Youtube?

19,000 subscribers

EDIT:I thought it was kind of weird to have so many subscribers and views, but very little comments on his videos. I’m starting to wonder if this guy has artificially inflated his views and subscriber count?

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I have been thinking about this a bit recently, will it be difficult to know the exact supply of safecoin once the network is live? The supply will not be manipulated, but is it hard to predict what it will be? I’m basing my thinking of the Store of Value hypothesis traits in the link: https://multicoin.capital/2018/03/15/paths-to-tens-of-trillions/
If the supply is not highly predictable (it may be, I’m not across how this works when launched) then it doesn’t support the store of value hypothesis. Interested to hear your thoughts.

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Good question. I know there has been discussion on that topic earlier. With the latest discussion about Safecoin as to “not have safecoin as data items, but as integers in the client managers”, I dont know if that would effect this topic differently.

Here is some previous discussions which seem positive on calculating at least of approximate supply.

Hopefully the Safecoin supply will be more accurat than gold.

Maybe @neo , @polpolrene , @bochaco knows more and have an answer to this topic?

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I suggested a potential solution in the topic David mentions the integer idea. That is to still have safecoin MDs but only the fields are owned by users and the field has whatever decimal fraction of that coin the user owns. And this allows recombination when users pay for resources and also farming rewards can be more often for smaller amounts. EG amounts like 1/1000 of a safecoin. By using the MDs there is still only 2^32 coins and upto say 2^32 * 10000 amounts available.

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Ok, so if Safecoins is still MDs then there will be a way to calculate approximat current supply?

I link the answer to my question to the other topic.

You mentioned it in the other topic. By assuming a distribution of some sort exists then its just each MD has used amount and unused amount rather than each coins always being equal to 1

EDIT: I see you editted you post to include it. :slight_smile:

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Yes, felt like this could become very confusing very quickly with answers in multiple topics. :joy:

To know atleast approximat current supply would be very usefull when Safecoin is traded on clearnet and SAFEnet exchanges. Do you think this topic could benefit a deeper discussion now when Safecoin RFC is currently discussed?

And also thanks neo for all the work in answering a lot of questions on the forum and also contributing in very complicated topics, you are a gem.

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The issue of knowing the quantity will certainly be discussed when the (pre-)RFC is presented, even if its you who brings it up. I think it might be too early to really get into it since we just don’t know what form exactly safecoin will take. It’d be like “well if they do this then that or if they do something else then do another thing” We’ll be discussing so many if and buts and most of them useless banter. :rofl: The major possibilities have been discussed and we can use them to springboard off when we have a firmer idea of what exactly a safecoin will be.

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Here’s an article about it by Chris berniske author of “Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond”

MT Gox payout could flood market, further bitcoin drops expected. Which would mean we may see Maidsafe dropping further… $0.10 ? Anyone?

I think this is called a “race for the doors”.
Each bitcoin holder looking for compensation is probably going to want to cash out ASAP.

Buying opertunity coming.

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I have no idea why this author thinks there will be a payout soon. Perhaps he is confused by the Oct 22 date - this is when the rehabilitation claims have to be submitted by creditors. The earliest date for the payout is somewhere in February but even that is probably way too optimistic. More likely spring-summer 2019 if the creditors are lucky.
Very amateurish and superficial journalism.

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Can we have some selling opportunities please?

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Just wait for the @Zoki coil :wink:

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People are in such a hurry to sell. If everything goes as planned in MAID and other crypto, you will never want to sell back to fiat because you can just use your crypto for purchases.

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At current prices in BTC, MaidSafe is close to all time lows. Those who sold, at just about any given price, profited.

Arbitrary.
Equally, it might not.

is just as valid as “you will wish you sold earlier”.

You missed my point. I think it’s funny how we all talk about MAID and other crypto prices and what a new world we could live in if adopted. However, right after that statement people want to know what those prices are against fiat and when they should cash out. The matter being that if individuals truly believed in MAID or bitcoin or whatever else there would never be a need or desire to return those coins back to fiat. It’s no wonder people think crypto will eventually fail because the overwhelming majority of the people invested in the space are planning on how to turn it back into fiat and not use the technology which leads back to the point that if that is your mindset, you don’t truly believe in blockchain or decentralized systems.

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I see what you are saying, but you can have it both ways.

Belief or not, the infrastructure is not there, and will not be there to support a fiat-less crypto-ruled society for a good while. At least ten years, probably closer to twenty.

First, we need a coin, or a couple of coins, to truly separate themselves from the pack as far as technology and features, particularly in the space of low cost and immediate or near-immediate transactions. We do not yet have a good substitute for something to replace a Visa card. Then, once those have been identified, we need them to have widespread adoption, enough for the general public, and businesses to begin to accept said currency for transactions. We need mature exchanges for easy access to the crypto.

All this takes time, time not all of us are willing to wait to part with some of our investment. If MAID hits $100, I’m going to sell some. Not all, but enough to further my life goals now instead of having to wait another 10 years for it to reach ubiquity where I can buy a house with it.

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