You have yapped incessantly all weekend and you now want to convey contempt? You are a little rascal, aren’t you?
That’s your words. I never said that. Do you not know the meaning of “or” ?
I’m just glad you’ve got it all sorted now. Happy reading.
I’m not into censoring, but this IS getting off-topic. Who is the topic fork czar here?
I think this has been pointed out previously as speculation however.
It would be odd if the distribution listed in the white paper is completely off range, so unless a new emission schedule is presented I think the most sensible thing is to use the current estimate. There’s been no clear communication from the team that the schedule is completely off, but I hope to see a new white paper out soon where this is clarified further.
Everyone here has given @warz way too much credit for all of this sloppy math and speculation. Inflation only means something when the market is flooded with currency and there is no need or use case for it. So, its great if you want to look at charts, calculations and all of this under theory but reality will be driven by demand. No, demand and the price tanks. Massive demand for whatever reason whether it be institutions, whales, retails storage and so on could prove that the supply injected into the ecosystem will not be enough to keep up with demand. We could also find that there is no demand and inflation very well does take over and the price gets crushed but enough with the shitty academic approach and realize that none of this happens in a vacuum and by the book. Keep looking at only the supply side and don’t factor in demand or use case and you will end up with the wrong conclusion.
Sorry, that’s not how the economics works at all. Inflation ALWAYS means something. You can argue that the effects will be small due to demand, but inflation causes more supply to fulfill the demand with, you should always expect a lower price than without it.
Also you’re misrepresenting my views again, I have never denied the impacts of demand, in fact that was one of my earlier posts where I explained the effects of supply and demand.
Regarding sloppy math, be specific, don’t just throw out vague accusations. What math is wrong exactly?
The correct answer of course is to link inflation to economic growth in the network, and attempt to encourage and attract developer activity to help build out infrastructure towards this aim. There have been various discussions over the years sprinkled throughout these forums on how best to achieve that end. Fortunately the autonomous Safe network will have a great deal more flexibility in this regard Vs traditional blockchain based projects and their fixed time “set it and hope for the best” block issuing algorithms… so I guess we will just have to wait and see how the test networks proceed.
Come on. How about we all just be like little Fonzies. You know what he’s like. What do you say?
Who would have thought the FAANG stock prices would be where they are now. Not me. That’s why I’m not letting go of my little stash of soon to be Safecoin. All we need is for 100 million users to use Safenet and voila
Well said, except I wouldn’t have said “massive inflation” but that might just be differences in how we each consider “Massive”.
I’d consider the 10% existing for immediate use as going a long way towards that “kick start” and hopefully good farming conditions early on to be good. And hopefully good emission rates to help cover the massive spending (destroying) of coins early on (months to year or 2) as the network takes off.
General talk here. It really is not a crypto project designed to make people rich off investing in safecoin and the $20000 figures don’t really help either. The coin is not for investing but for being used on the network to help prevent attacks while providing a way to reward those who provide resources (storage, App development, quality content) to the network. Crypto projects have mostly been about money making along the lines of stock market trading and usually they are just a “project” so they can create a blockchain that will make them money. SAFE is not a crypto project and safecoin is for the network and a way to reward people giving resources and to charge people to use resources.
The price could very well never take off like bitcoin, but will maintain a reasonable fiat value. We really have not seen anything like this before. And as I said before the safecoin value will mostly be based on the network’s value and some on the use for buying/selling on the network too.
EDIT: and the one thing overlooked by many is that also unlike blockchains there is no SET emission rate. There is no x coins per block which halves after so many blocks or anything else like that. SAFEcoin is only issued as required according to the algorithm (RFC0012 currently) and coins are destroyed according to people’s storing habits.
So there is absolutely no way to give an accurate emission/destruction curves. But there are ways to reason out potential scenarios.
I doubt in future there will ever be an emission curve/rate given WITHOUT a destruction curve/rate to complement it. In any case such curves will only be possible after reasoned modelling is done.
Keep Calm & hold your tokens
The whales were bored with Bitcoin being a stable coin and played with maid the past few weeks. What comes after 4 huge dumps followed by 4 huge pumps? Anyone FOMO lately?
When you have an initial buyin, and know that on network launch - with the possibility of all your storage and communication costs covered for ever…
Market up and downs don’t have much FOMO power over you.
Edit: to da mooooooon
Not really about Maidsafecoin’s price, but still about money.
I just finished watching the Premiere of Episode 10.
I’m late to the party here on the discussion about about inflation, but I just want to throw my $.02 in. If the SAFE Network becomes the Internet 2.0, $20K in the future is not all that impossible to believe at some point 20 years down the road.
One has to remember, even at max distribution, of which it is unlikely the Network will ever come close to meeting, there is only about 0.58 coins per person on the planet. Combine that with inflation and GDP growth in the fiat markets, and $20K in 20 years is somewhere in the vicinity of $11,000-14,000 in today’s money at inflation rates of 2-4%. Assume there are 3.5B coins in circulation as the network settles into an equilibrium balance of sorts. At $20K/coin, that would mean the total value of the 3.5B Safecoins is $70T. Ridiculous? Perhaps, but not so fast.
One also has to take into account several factors. First, the CEO of Cisco was said to estimate the value of the Internet in 2016 at $19T. I’m not sure where he got that number from, but lets assume he is more of an expert than us in this matter. Take that estimate, and in 20 years of inflation, that would be somewhere in the vicinity of $30T with a moderately conservative inflation estimate. He then goes on to say that he believes the IoT wave will increase this “value” (I put value in quotes because the Internet does not intrinsically hold value, but it represents a market that holds that value) 5-10x over the next couple decades. Just taking the low end of that estimate, and we are already at $150T in the “value” of the Internet.
If the Internet consumes our lives in more ways then it already does via IoT, expanding AI, etc., combined with industrializing countries with massive populations joining in this phenomenon (China and India), in addition to most transactions worldwide now being done on the Safe network, then $20K in 20 years is not so far fetched.
Don’t get me wrong, I’m not claiming this is going to happen, nor do I think it is likely to happen in this manner, but to outright dismiss the possibility is pretty naive as well. IF the Safe Network is able to establish itself as the Internet 2.0, and IF it can get a foothold in being the backbone of worldwide financial transactions, $20K is a low estimate. Again, just consider the fact that there are 0.58 Safecoins per person in the entire world, and that is at the max 4.3B in circulation. In 20 years, we will hit ~9B people. That’s 0.48 coins per person.The scarcity is real, and if successful, the initial inflation will be meaningless.
I am pretty optimistic about Safenet, although I don’t believe it has the potential to overthrow the current internet. Do you really believe the average joe will do their online shopping on a site that starts with safe:// ? Or am I missing some obvious bridge between Safenet and the current internet? Or do you think people won’t be using websites at all anymore 10 years from now?