Yep. Still accumulating. All cash for this month however went into finishing my home server/network so that it’ll be ready to go at a minutes notice for vaulting.
It walmarkt accept visa then i think you soon can spend it there aswell with the Tenx card. Im from europe and already received the tenx card and its super easy and fast and everywhere with visa you can just spend some crypto (more pairs will be added soon like eth and dash)
You ain’t seen nothing yet. Unless “Governments” go paranoid and do something rash, Bitcoin is going to have many of the features that many of the current altcoins have. Namely:
3. Shnorr Signatures
4. Schnorr aggregation
6. Root stocks
7. Lightning Network
8. Atomic swaps
9. Mimble wimble
Bitcoin has the network effect. It’s value is going to increase substantially over time.
Maidsafe is now all about execution and timeline. (Regardless of Bitcoin’s price.)
Noob question (I don’t have much exp in business or trading) -
Total safecoin supply is 4 billion. Isn’t it right? I see people speculating that maid has the potential to reach several hundred (I saw someone even going for thousand) USD if the project is successful. Isn’t it too much to hope for as 4billion seems like a huge number to me? I see that most of the coins with >100 USD value has total supply of less than 200 million.
if safe network is as good as it sounds. I would be suprised if we dont pass bitcoin market cap(current)
The max supply is 4.3B coins. However, it will likely be decades before there are ever that many coins in existence at once (if ever) because
The network will kick off with the number of MAID coins (converted to Safecoins) in existence + early investors’ coins (~600M coins)
Many of those coins may likely remain on exchanges/in private wallets or be “burned” in exchange for services
Because coins are destroyed once used that naturally limits growth in total coins available
The farming algorithm will adjust how many coins are available based on size of the network
Divisibility, once solved, will address micro payments
When you think about it, the current internet is about 20 years old. In that timeframe, its value went from $0 to ~$20T. One way to think of potential coin value would be: if you say that it takes Safe a decade or two post launch to reach maturation, apply a percentage of “market share” if you will that SAFE could capture and divide that by 4.3B coins.
Value of current internet would be much much higher, if there were native internet currency. Right now micro payments are not possible, so people have to pay via their privacy, displayed ads etc… Micro payments are a game changer. With them there are so many new options to increase the Internet value. Free, anonymous transactions are awesome way for tax evasion, so this should also boost business a lot. Internet value is increasing year by year, with IOT price should pump a lot, so even with 1% market share of internet safenet market cap can be trillion in few years. And don’t forget that market cap is not equal to real price. Market cap is just a sum of all coins multiplied by price per coin. But when you check exchanges, coins with few millions of market cap have almost no buy or sell orders. Even MAID does not have sell walls. You are simply not able to buy even 1% of all coins at reasonable price. So when price grows, it grows much faster if there are not many sellers. I can easily imagine safe price at $1000, lack of sellers and long bull market can make it happen even without beating old Internet. It can hit $10000 and more if it manages to be a real deal.
Generally agreed on multiple fronts. The first time I performed this analysis, I also took into account that of the 7.6B people on earth in 2017, only ~50% of people have access to the internet. The number of internet users has grown by ~12% annually with a standard deviation of ~3% over the past 10 years. Based on these calculations we could theoretically achieve a ~100% global user rate by 2025 (holding constant for sociopolitical strife etc. which would suppress the growth rate, and much like freight I think the “last mile” so to speak will be the trickiest and most expensive part to complete).
Due to lack of access to a better data set I backed into an average growth rate for the value of the internet over the past 23 years (~4.8% annually).
You combine these two thought exercises together and we’re looking at the value of the internet being ~$30T in 2025. That’s just from sheer organic growth and doesn’t even take into account the innovations you’ve mentioned
Not entirely sure what nuance you’re calling out here. Market cap is the total number of coins in circulation (not absolute total coins) multiplied by the average per coin price. So, if the value for the internet is ~$30T in 2025, SAFE seizes 10% of the value by that time, and ~1B Safecoins are in existence at that time, then the price would be $3,000 per coin.
This of course is very rough math. For example, it doesn’t take into account value-increasing innovation that could allow SAFE to secure more of the internets value (upward pressure on price). It also does not take into account the difficulty of the farming algorithm (if easier could result in more coins at that time placing downward pressure on price). Those are just a few weak points in the analysis, but it helps to construct a hopefully helpful picture of the potential.
Internet takeover is one thing, but what about all the other stuff… black market? store of value? currency? Released spare capacity from a planet overflowing with it?
These things always sound silly from the bottom (lol to saying that at 50c). It sounded really silly when we all said BTC could be worth $1M years ago, now the forecasters are all saying $100k-$1M or bust in the next 3-5 years.
When I found SAFE I got goosebumps… repeatedly. If it does what it is supposed to do then I really think the sky’s the limit. You’re spot on not to calculate the entire 4.3bn as so many make the mistake of doing. If the network is a big success we can expect a lot of coins to be being ‘used’.
I wonder, when divisibility comes if we’ll call the fractions of a SafeCoin ‘Irvines’?
Whatever happens and however far it goes, IF SAFE works it’s going to be frickin’ HUGE!
Market cap is not real value. Let say you have $1 million and you want to purchase MAID. Than you have to go to polo/bittrex/hitBTC and buy into sell orders. $1 millions = 2 million MAID right now. Than to buy 2 millions, you have to pay price up to 6000 satoshi on all those exchanges at one moment. Righ now it is at 4500 satoshi. So the price will pump 33%. The market cap after that purchase will be 33% higher. So it would pump marketcap from 225 million to 300 million. So you spend $1 million real dollars and you pumped market cap for $75 millions. So market cap is simply not a value of all coins available. It is nothing. Market cap is here just to make comparison between coins easier. But it has nothing to do with real value. You can’t sell all bitcoins at $10000 at one moment, you can’t purchase them all at one moment for that price. If Internet has value of 20 trillion, than Market cap of imaginary Internet coin would be maybe 200 trillion, or maybe even 2000 trillion.
agree whole heartedly.
7 posts were split to a new topic: What is the internet worth discussion
Thats why crypto in general can move so fast, not everything is available and we can see insane prices on some coins without beeing the true value just based on for example locked value or lost value
MAID struggling to break that 60 cents barrier. Wonder how long till it reaches the elusive $1 ! 3 months? 6 months? Surely it’s just a matter of time now, not even an if…
Yeah, the fiat price of MAID makes me think just how much we’ve lost against BTC. If one MAID equaled 10k Sat at the time of writing, that would constitute of more than $1.1. And 10k Sat we considered a a minimum against BTC and a strong support line.
If MAID was at it’s highs of about and over 20k Sat we would be looking at more than $2 a coin and market cap of about a billion.
Dare I dream of MAID gaining value faster than BTC?
It’s looking like the top 20 crypto will soon be a billion $ + market cap each… eventually this will filter down. Just a matter of when I suppose. Separating the wheat from the chaff will eventually come into play, hence MAID should see a nice healthy rise. I’m 99% that is what will happen.
From October 9:
Hard to resist recalling the above even though it wasn’t a prediction as such.
I think making predictions is a sign of misunderstanding markets BTW. You can look at likely scenarios though and position yourself to benefit from what you expect to happen some time. Learn to act rationally and to resist emotional pressures. Which brings me to the reason for posting today.
I would not be at all surprised to see MAID go significantly lower, but just as the above was based on a long period since we’d seen anything below 9, it is also a long time since we’ve seen MAID rise to new highs, which I expect will happen some time.
I’m not convinced that this will happen soon - timing things is the hardest and therfore riskiest strategy - but I would also not be surprised if MAID is approaching a low that will turn into a long, bumpy no doubt, rise. Maybe not to a new BTC high, but a significant way towards it.
There may be another low or lows before we exceed the previous high, so that could be a long way off. Or perhaps it will be in the next long rally. Who knows.
Thing is, those who are convinced of the merits of SAFEnetwork don’t have to get the timing right, so long as you can afford to wait. So that’s where to take care - as we know, timescales are not to be relied on, but also don’t be surprised if there’s a rally when hardly anybody expects it.
After alpha2 many seemed disappointed that MAID didn’t react. Don’t be! Markets don’t work like that.
Most often in my experience they do the opposite of what you expect when an event happens. So I’d expect the next long rally to begin before such an event, while others are asleep, attention elsewhere, or between them, or after a disappointment etc.
So my theme here is to suggest it’s not a good idea to try to predict timing. You may expect the rally to come, in which case be ready for it whenever that happens, next week, next year etc. But don’t get caught out thinking, well I don’t need to do anything until X because if too many think the same way that’s when the trickster that is the market will catch you out.
It’s just that they keep creating more chaff. If they would stop with the creation of new chaff, I think the existing chaff would indeed fall to the floor. The new chaff creation is aggravating and is pressing down on our lonely grain of wheat.
Well I could be a smartass and say you are looking at the wrong fiat currency Its 75 cents aussie and I always thought I’d have started selling when it reached 50 cents aussie. Well I have moved that up.
It has been creeping up. I made a note in this topic around the time the last fork was still in play and the USD price was just over $0.40 and now its $0.57 Not bad for a month or two.
And for some of us we have to consider the best time to withdraw some due to age and wanting to maximise enjoyment of a portion of our “investment”
Whatever happens i am not selling my Maids until after launch. And i will have a tiny stash kept for future liquidation when Safecoin is bigger than Btc. Financial freedom and freedom from the existing social media is the ultimate objective