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

Right, but it has the same economic effect since the coin will be farmed later. There’s no long-term deflationary burning going on, correct? I’m going to re-read the whitepaper again shortly.

And farmed coin will be spent for storage later on

With the same argument you could say there will be 0 deflation :thinking:

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Isn’t that what the past week has been? Essentially no volume, except for right after three large 1 minute pumps causing all the rise?

Weren’t you just saying a few days ago that $0.02 is on the horizon?

There’s inflation, we’re not going to stop at 450 million, but eventually reach 4.3 billion. My point is that inflation will put downward pressure on the price. If you are going to argue that coins are burned and it does not result in less coins, it makes no economic difference to my point.

Do you have a resource for that?

If people just store data on safe and use it it for backups there won’t be inflation but there will be less and less coin :zipper_mouth_face:

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Yes:
The total number of whole safecoins which can exist on the SAFE Network is 2^32, or just under 4.3 billion. [source]

Current coins in circulation: 452,552,412 MAID [source]

If people only use safe for backups and no coins are farmed who gets paid to host the data?

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Part of me still does. It’s an option that would not surprise me before launch, it
would not upset me to see $0.02.

If we continue to get more and more test releases, SAFE-Fleming, then some more publicity - when light bulbs start switching on across the crypto community - FOMO for $1.00 will soon kick in.

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Sorry you are the one making wild guesses and just a little searching on the forum will turn up 100s of posts about the fact the coin supply @90% is to be after 2 decades. Just read the white paper for one.

Do you know that the coin is also recycled (ie destroyed) when people purchase resources. So its even possible for the existing coin to go down at times. For example it is reasonable to see the existing coin to drop early on since little data means little creation and people have to store lots of data resulting in a initial negative growth of the existing coin.

Far less guess than your silly thought that there will be 100% existing coin so quickly. Do the reading and you might learn.

No and your lack of basic education on the workings of SAFE is the reason for your wild guess.

Did you notice that it says “can exist” which does not mean WILL exist.

But yes it is expected the existing coin will increase eventually but never reach the 4.3 billion coins.

And just like bitcoin, the number of bitcoin is increasing but the price is ever so much more then the initial stages of bitcoin.

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Far less guess than your silly thought that there will be 100% existing coin so quickly. Do the reading and you might learn.

Don’t assign me opinions I never had.

No and your lack of basic education on the workings of SAFE is the reason for your wild guess.

How about answering the question for once? I’ve been reading this forum for months and it’s very wishy-washy. Personal attacks is just not a good sign for a project, why do you keep using personal attacks instead of addressing peoples concerns?

Did you notice that it says “can exist” which does not mean WILL exist.

But yes it is expected the existing coin will increase eventually but never reach the 4.3 billion coins.

Then my point still stands.

Hey did you recognize the price did rise today? :thinking:

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(was just an observation - not wanting to imply a connection to any of the last posts)

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Yes I think this is key here - nobody knows in advance how many coin will exist at which point in time… It’s just part of the autonomous nature of the network

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Yeah, there is a whale pumping things up.

Another shot :wink:

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Amara’s law

We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.

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There is more variables than just number of coins in supply. There is also number of users causing demand. Also every time a coin is burned it could be farmed, but the farming rate will go up and down based on demand. Bottom line the more demand the higher the vaule and vice versa.

Sorry this was meant as a reply to @warz

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@betterthantrav That’s just what I said :thinking: Not sure what you disagree with.

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The concentration on 4+ billion coins means almost nothing. Reality will be based on adoption, retail use vs. commercial use and the burn rate in relation to how the coins are being used or are being held on to. Mass adoption to me would means 100 million+ users. Is that a crazy number? Maybe, but even at that 4 billion number (which shouldn’t happen for multiple decades) that’s 40 coins a person and although 20k sounds absurd, $100 is not even a blip on the radar.

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I personally believe @warz brings up rational points across the board and maintains a more realistic goal than most based on real world evidence. So far the counter arguments to his points have been insufficient or personal attacks and guesses at best. I rather talk in terms of quantitative data and algorithms proving a point as opposed to the “I think” “Possibly” “maybe” “the potential for” talks.

@dirvine as this project has progressed and ideas become concrete are their any hard numbers or algorithms to counter the points @warz has brought up in all his comments above? Would love to hear your thoughts, if its beating a dead horse and you have covered this pretty extensively with real numbers, just a link to a prior quote of yours would be nice.

This whole SAFE coins being “burned” concept I disagree with. A coin is not burned if its given to the farmers that host the data(and I think it goes to more than just farmers too but still goes to some entity of the network). That farmer can turn around and convert that coin to USD or some other crypto immediately if he likes. I think the proper wording would be SAFE coin churning(the effect of PUT spenders to those hosting data, a transfer of coin wealth), but its still very present in the ecosystem not deleted(which is how I think of burned. Burned means deflationary, churn has no impact).

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this is exactly what doesn’t happen - you pay the network for hosting data - the coin looses it’s owner and is burned

if nobody requests data and people only store to safe than safecoin is purely deflationary

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