Funny how spacecoin was tacked on, as crowd funding became a thing…but in David’s writings he describes it as being the oil of the engine (network) i.e very central…not sure how that thinking evolved as I’m fairly certain it wasn’t part of the original brainstorming…maybe because of central role ‘tokens’ were taking in the early days of ‘crypto’.
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Before then we had perpetual-coin, it was around 2006, but we had issues with patents etc. as that time investment needed patents. So we switched to vaults earned tokens that were able to be used to store data etc. It was easier to tell that story. When bitcoin came along it was then easy to tell how these tokens were transferable and could act like money. That transferable part meant users did not have to run a vault to get access but could have them transferred. That is a much nicer solution and then we called it safecoin. That meant defining things like farming rates better as focus went there as folk asked, how would that work and why not use bitcoin etc. That was an easy thing as we already had the token design for a utility token and it required the network “make” them and we called that farming. So it all came about in that order really. I am sure there will still be videos and papers on perpetual coin floating around (2007 timeframe perhaps). There was also a paper that Paul Grignon in Canada (check his videos on money as debt) spearheaded about perpetual coin and it went around a bunch of economists to evaluate things like valuation/devaluation/interest/loans/credit facilities etc. Paul was great at that and did come to Scotland to visit and get more info. Sadly it was all too slow though in terms of us releasing, but the exercise was good for us all. We still owe him a lot for that work.
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Thanks for the background David, Paul Grignon will be a good guy to have on side when the time comes to explain the Safe Economy.
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Digital Coin
A Design for a Technologically Innovative, Sustainable and Self-correcting
Software Medium for Trade and Capitalization of Production
With Digital Coin, the user’s experience would be almost identical to using PayPal but the
mechanics would be significantly different.
Step 1. You would log in to the software on the computer in front of you, which could be
anywhere in the world. The significant difference is that this login is just between you and the
software, not a third party. You are not logging in to PayPal or any other entity. You would input
your username, PIN and password, just one more box to fill in than PayPal requires.
Step 2. You would pay the seller by transferring ownership of the Credit Coin you have to the
seller. All prices are in Perpetual Coin. Therefore the actual Credit Coin payment will be
automatically computed, taking into account each Credit Coin’s current PC value (buy/sell ratio).
Which Credit Coin gets spent first will be automatically determined according to defaults or
preferences you may have set. The seller may reject some Coin as not being on its accept list.
All this happens “under the hood”. The user just agrees to the price and pays it.
Step 3. You log off and all trace of you is erased. No records are created unless you create
them. No one knows this transaction happened unless you want them to know.
Thus we can say that the Digital Coin user’s experience of buying and selling would be identical
to using PayPal. It would be just as easy and convenient. The differences are: no password has
been transmitted, no third party was involved, no third party is aware of the transaction, no fees
have been charged, and no records have been generated except those you chose to keep.
Currency conversion would be unnecessary as all prices are denominated in Perpetual Coin, a
universal unit.
This does mean, however, that every time the Coin user checks how much Coin they have in
their online Vault, the total will be slightly different, because the Credit Coins will vary in Perpetual
Coin value over time and relative to each other.
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kinda bullish on polo opening up new margin markets. Draw peoples attention to that part of the site and oh look here’s a coin I need like 12 btc on 2.5x leverage to push though 30 btc of sells and totally shake up this market 
I know whale pumps are usually not sustainable but honestly that last major dump was prolly somoene with like 12 btc saying look how low I can push this down shorting on 2.5x leverage so we are due!
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Just remember that there is over 11m MAID to sell.
I had heard you guys were considering the name “spacecoin,” in terms of hard drive space, and thought that was super cool sounding too 
But safecoin also gets the job done 
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How many MAID do you have to have to be considered a whale? 10M?
looks like the cost to push though the current resistance is about 300k. I would say if you are buying though that and moving the market you are a whale. About 8 bitcoin or about 3 bitcoin on 2.5x leverage. That’s why I figure this puppy has got to move. You really don’t need to be outrageously rich to make whale moves right now!
You honestly think advising shorting at these prices is a kind thing to do?
Are you?
Remember that any advise in this topic is to be taken at your own personal risk. Traders talk and they advise people to do what they want them to do, and this may be good/bad advice or self serving advice. In other places I’ve seen whales tell people to buy out a wall, except the wall is their own. Or sell into a wall and again the wall is their own.
Is this happening here, well I don’t have a clue but people can decide if its advise for themselves to follow or not.
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Will Safecoin(not Maidsafecoin) be available on clearnet exchanges once the SAFENetwork is live, or will it be a native token only in use on the network? After the launch and subsequent exchange of MAID to SAFE, I just can’t see how you will be able to buy Safecoin on Poloniex for example, and send it to an account on the SAFENetwork. Will all Safecoins have to live on the SAFENetwork?
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um all I said is if you are all in maybe consider selling some to catch the dips based on the market depth everyone can see. And actually if you did that there have been some opportunities to sell and rebuy a couple percent cheaper. Since then a nice sized buy wall popped up, and now I personally feel more bullish.
exactly! You can go read the NY times and engage some analysis on price that might be either bullish or bearish, but in the end that guy didn’t go sign the papers to buy/short that stock for you… YOU DECIDE1
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2 or so years ago Poloniex came in on the forum and was asking when safecoin would be live so they could prepare for it. I know things have changed at Poloniex’s end, but there should be no reason they will not list it. It only requires them to set up safecoin addresses and some procedures. Actual trading only uses database numbers.
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The real danger is with such a small market cap polo will the delist MAID before the final release. Its good that it is entrenched as an OG coin with margin trading but that doesn’t assure anything. I think when we transition to actual safecoin the market will be so large they would be completely foolish to not be involved. They did not ignore the ETH fork. They did not ignore BCH fork. This is not even really some controversial fork so much as the transition into the next step that was long planned.
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Can you enlighten us with the meaning of “OG” please. No one knew previously
it stands for “original gangster” meaning even if its today market cap is below some hype new coins it still gets the respect for being there first.
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you can’t front that OG flag and never represent in the hood though! what I would love to see is @dirvine and co do something in the meanwhile to give MAID value before final. I see no reason not to let people trade it for testsafecoin as long as there is a clear warning this coin and all data storage you buy with it will be lost at final. That’s just like the most obvious thing. I am sure there are other creative ways to stimulate the MAID market in the meanwhile to prove we are real while we wait for the big score!
Never fear David and the development team are doing something, and that is building the network code. That will give the most long lasting value. As we get closer to release candidate betas people will see the value. Just at the alpha stage that level is very low.
In the betas testing there will be testsafecoin and obviously there has to be some decision on how people can have a few test coins in order to test the network. One suggestion was to give some to each new account (problem account spamming). Another is to use farming to get coins (problem no storing without coins thus no farming).
But I am sure there will be a way. Maybe even giving forum members a set number of test coins similar to the invite system and the members can gift a test coin to others elsewhere so they can test too.
It has been suggested that once we get to release candidate stage, barring a requirement to reset, the last candidate release will simply continue into the live system with any test coins becoming the actual safecoins. This means that release candidate betas will be given real life testing since people (including the dev team) will not know if its the last one to become live. The decision to become live would be made on performance and reliability of the release candidate beta being tested and not a person’s decision.
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oh ya I know they are doing lots on a great project that will be a wonder of the world when its done. Just wana keep the token sale coin relevant somehow in the interim. I guess we first need to have some kind of testsafecoin to allow people to exchange MAID for it, so that’s not like a tomorrow thing, but still very nice in like the medium term. If that testcoin could at least have SOME chance of actually carrying forward into final all the better and even more reason I would say let those willing to engage the risk trade some MAID for it.
Anyways I am kinda stumped on what to do in the right here and now to give MAID some utility more then a long term HODL coin. Not just the dev team but anyone at any moment could come up with a great idea on this and I am confident there is a solution that just has to be found.