I’ve been heavily researching and investing in crypto recently and obviously Safenet and Ethereum sticks out as mindblowing in regards to potential, however another coin which has something going for it seems to be Monero in regards to privacy. In my opinion it might become what Litecoin has tried to be all along, the alternative to Bitcoin, primarily for “shady” transactions or those who simply want privacy, which Bitcoin actually does not offer at all (contrary to what most people believe)
Safenet has obviously way more potential in regards to privacy, but I feel like Monero could have something to offer, if there is some way Safenet could take advantage of it, somehow.
As far as I understand it, Safecoins will only exist on safenet, so some type of bridge between an privacy oriented crypto on the normal internet and safecoins on safenet could perhaps add some synergy to both? Not really sure specifically how or what, but I felt like I should just post this and see if something may come of it
I know that, still maybe there is something that can be done to merge the privacy oriented crypto from the regular internet with safenet… Maybe there isn’t, idk
I don’t know about “merge”. But I do thing that a private currency like Monero or Dash have a real place in the ecosystem for some time to come. There will be bridges in and out of Bitcoin, and across to safecoin via decentralized exchanges.
Till the SAFE Network really takes over, and even thereafter, there are room for many solutions. Dash and Monero, or whatever, even make bitcoin more useful, being a privacy on and off ramp for bitcoin laundering. Safecoin can figure in there, too. We’ll see.
I believe I know what your saying. Your saying that having Safecoin in just the safe net will be a smaller market because not everyone is going to want to use the safenet. You want to be able to use coin outside of safenet.
This shouldn’t be a problem. For those wanting to use the coin but not the network, for example of you are a ecommmerce website on the clear net, just give your safe wallet Id and then the user would just pay safe to you on the safenet. Then you’d just run a backend program to check you got it.
Although it would be better if everyone just used the Safenet to begin with.
I wouldn’t let any requirement for safenet worry you. The launcher will be a simple install and any app will be able to easily integrate with it. The launcher will just be another service on your devices.
Remember, you will need some sort of wallet software for any crypto currency. I am quite sure some clear net web sites will offer Safecoin wallet services for the convenience, when security is less of a concern too.
Edit: to put it another way, it won’t make much difference whether a coin is on a blockchain or safenet from a user experience perspective.
What monero is, is irrelevant … you just appear to be hyping monero on the back of its lead dev being ignorant. There’s no depth or reasoning… just blah. All I’ve ever seen of monero is hype and cross posting… so no surprises here.
I initially thought the biggest threat to monero was safecoin, Although after fluffy’s comment on maidsafe, it makes me question whether we will actually see a real implementation of safecoin. If its real it will blow every anon coin out of the water.
You see i don’t read through whitepapers and understand the deep nitty gritty details of how safecoin will work, i listen to respected and highly intelligent developers who PRODUCE products not claims.
All i want is fungability, monero is closest to this at this point in time.
I assume you have invested in maidsafecoin and so i expect this hostility.
And after he said this did you ask him to explain why it wouldn’t work? Did he then give you a great explanation? If so please post it so that we can have something other than a general statement to respond to.
If you didn’t ask him then perhaps you should, because just saying something won’t work doesn’t mean anything.
I know the monero team did a complete dissection of SDC(shadowcoin) and basically broke it through finding its security flaws(They even made a whitepaper on it). I think its within their interests to do the same dissection(analyis) of safecoin. I will try and get more information from him when he is available to talk to.
You are surprised fluffypony does not think maidsafe can pull it off?
Surely we all know that if most of the alt privacy devs thought maidsafe would pull it off they would not bother working on their own projects they would work on this one? SAFE is a game-changer, it would take over the world if it worked. It might not work though ofc.
I don’t think you ought to worry too much about what other people think unless you know why they think it (as krec says, pull apart the criticism itself rather than deferring to judgement of someone smart - David is smarter imo). I think I can guess some of the issues fluffy would say make safecoin unlikely to ever materialise. I also think he is probably wrong and my money is on David over him any day of the week. Even though a lot of it is over my head and out of my pay grade. [quote=“hamiltino, post:3, topic:11024”]
i listen to respected and highly intelligent developers who PRODUCE products not claims
[/quote]
No offence, but the innovations and real developments going on in this space look a lot more impressive and interesting than those in XMR from where I’m sitting. It’s quite easy to achieve relatively unambitious things and doesn’t make you more reputable or intelligent.
You gotta follow your own reasoning, but to me XMR is just a flash in the pan regardless of whatever else happens in this space. IF safecoin works it changes the world.
XMR isn’t really all that interesting imo, it’s just flavour of the month.
It would be more interesting to see what they think once it has launched. We all know they can come up with plenty of reasons why safecoin can’t work… the trick will be proving it does or doesn’t in the field. I’m not really interested in more analysis at this point, I’m interested in field testing and results.
Please don’t listen to people, but try to find out yourself what software does.
There are three kinds of cryptocurrencies right now
Crypto’s that function as currency (religious based like fiat (it’s backed by math))
Asset backed crypto’s (but you have to trust a third party to deliver the asset)
Resourced based crypto (IMHO the best form of money)
Then there is distribution of the crypto
Mining and exchanges limit the speed of the coin spreading (You need specialized hardware or you need to have existing currency to get the cryptocurrency).
With farming you only need a simple computer and simply providing harddrive space you can get your hands on some coins.
It’s not rocket science which coin will spread more worldwide.
People who claim/say something are not the interesting ones, people who actually code/do something are far more interesting. I thought like 2 years ago, people in the cryptosphere stop seeing features like something special. I don’t care if something can be transferred instantly, is anonymous and scales way better than bitcoin, all that is nothing new. bitcoin solved the digital scarcity problem, but just because we have a hardcap on cryptocurrencies, doesn’t mean that they haven’t become the new fiat, like the exchanges have become the new banks. 10 years from now devs/miners/exchanges could just update the hardcap without the masses knowing, so it’s actually dangerous that the hardcap is not broadcasted in every transaction as well. So that everybody know that the hardcap of bitcoin is 21M coins.
SAFEcoin says me that I can use it to register domains, get storage and do computing. More over I don’t need currency or an exchange to get my hands on it. People will get burned if they trust on the first two crypto’s that I mention above. News or just a small in flow of cash can make cryptocurrencies rise like crazy, but this is also nothing new. When you can run your app forever on the SAFE Network without extra costs, is when people will discover where the real value lies. When mobile apps run on the SAFE Network everybody will run towards this new computing platform with NO RECURRING costs.
