Maidsafecoin/Safecoin Wallet


#1

I’m not sure this has been addressed so if it has then please link me. But will Safecoin have their own QT Wallet or will it always rely on the Mastercoin wallet?

Thanks for the help…


#2

I can’t think of the reference at this second, but if you poke around you can verify what I say here.

Safecoin will be an integral part of the SAFE network, with a built-in wallet as part of the interface.

The Maidsafecoin that currently exists in the Mastercoin protocol is an interrum token which was made to facilitate an inital crowd sale of 10% of the future safecoin. Whoever holds the Maidsafecoin will be able to exchange them one-for-one for safecoin when the SAFE network goes fully operational.

For the moment people can still trade in Maidsafecoin on the Mastercoin interface. I haven’t done any trading but from the comments I’ve seen the process is not easy. But I’m sure it can be done. I don’t know how many people who bought Maidsafecoin are into selling at this time. I know I bought it in order to get a dose of safecoin when the network gets going and stable, because that’s when it should really start to prove valuable. I’m hanging onto it till then.

Hope that helps.


#3

That does help. Thank you.

I was just wondering if their would be a Safecoin specific wallet to make it easier to move them. And while I am not looking to trade what I have already (I would like to get more), trading might become easier soon. Poloniex is going to be adding Maidsafe soon and that makes it sound like they devised a way to move them (they just added Mastercoin) easily.

Regardless…looking forward to what the summer brings…:slight_smile:


#4

HEY CAN SOMEONE PLZ ANSWER THIS:

  • How does the MaidSafeCoin get ??TRADED?? for SafeCoin??

Like, are we “bribing” the SAFE Network to give us some FREE SafeCoins without ever MINING THEM???

Who is the body that facilitates this trade?

It makes no sense, if SafeCoin is a finite resource, anything like Bitcoin, that has to be produced/“FARMED” to come into existence.

KNOW WHAT I MEAN???!?!?


#5

Is there a date set yet for when the Maidsafecoin will be converted into Safecoin?


#6

Look for answers to this and other common questions in FAQ catagory entries.


#7

Please take it easy with all the big letters and questionsmarks next time.

Q: How does the MaidSafeCoin get ??TRADED?? for SafeCoin??

A: You will send the maidsafecoins to a burn address and you will recieve safecoins, more details will come later

Maidsafecoin is just a 'pre’coin for Safecoin, you will get the same amount of Safecoin when you’ll send your Maidsafecoins to the burn address.


#8

…but are the SafeCoins I’m getting just coming out of thin air?

Or are they authentically “farmed” or “mined” by someone (MaidSafe org?) first?

Know what I mean?


#9

10% of the total number of Safecoins ever will be premined I guess and be given to the Maidsafecoin owners. The total number of Maidsafecoins at this moment is also 10% of the total amount of Safecoins ever so they will be exchanged at a 1:1 ratio.

The other 90% of safe coins will be farmed by the farmers: http://maidsafe.net/farmers


#10

A bit of a correction, there is also a separate pool for developers totaling to 15% of safecoin to create incentive for decentralizing core development and open source applications that use the network.
Also, 5% are reserved for initial investors of MaidSafe as they were funding the company for the 8 years it was in development before the crowdsale.

That leaves us with 70% of safecoin to be farmed by users… which will also be recycled when users pay for additional resources.


#11

You’re absolutely right Paige, thanks for correcting me