More Young People Engage in Unprotected Farming


#41

No we both don’t know how this will play out. Indeed a lot of factors :stuck_out_tongue: . Even the fact that one needs Safecoin to actually create an account.

Nope, never said that. I asked: “So what happens when a lot of people are offering GB’s extra to the network that aren’t filled?” Which means, there’s a lot of space that isn’t used at all. So it won’t provide any Farming, because it’s empty.

I agree, but it feels so damn good :wink:


#42

I don’t think the utility of safecoin can be overstated. Near instant tx, no mixer needed are features many markets desperately want and with no problems of scalability. Once the network is proven secure and cryptocurrency investors realize this, use and speculative buying will have an incaluatible affect. I know @fergish has detailed this in more detail in previous posts. But, I am really enthusiastic about safecoin.


#43

I sometimes fear this may take quite a long time, at least longer than we hope. The SAFE network even after factorization is pretty complex, which makes proper study quite intensive. In addition, I expect we’ll hear plenty of claims of insecurity and magically lost SafeCoins, that can’t be proven nor disproven. In Bitcoin everyone can look back in the blockchain and show that the “victim” apparently leaked his private keys because there’s a signed transaction for everyone to see. On SAFE we don’t have that ability. So in that regard SafeCoin is more susceptible to fear mongering.


#44

Will there be an accounting of how many safecoins are in circulation? It seems investors would want to know this.


#45

We’ll be able to make quite accurate estimates. Every vault can track his own farming attempt failure rate, which will tend to the percentage of the 2^32 potential SafeCoins in circulation. Data from multiple vaults can be combined to get a more accurate value. We could make an app for that.


#46

Hmmm…an interesting problem…


#47

HEY - i just realized - @Al_Kafir stole me 7624 MS-Coins!!! I want them Back! Right now!

and yes I’m sure it was you - you took them after you made me drunk oO


#48

I lol at this…


#49

hmmm - and additionally a quick thought about the topic - to be honest I didn’t read all the speculation about how the value of safecoins will develop so i might have missed someone pointing it out …

but in my opinion one of the aims of Maidsafe is to decentralize the Internet. So the aim is to make all the world farming on their HDDs without Raid-Systems. The system is designed to have RAID-like properties - recentralizing the internet by subsidizing farmers with additional RAID-Systems doesn’t make sense at all … if the system runs solely on HDDs without RAID and is stable this way i don’t see a problem here. If resources are scarce because of HDDs disconnecting/loosing Data the farming reward will go up for RAID-farmers (the ones with RAID-systems would have scarce data-pieces and would have more GETs) and it is profitable to farm with more professional hardware.
… we’ll see what the system needs and it will be provided because of the farming reward adaption … no need to fear anything I think

ps: I do have a small private server with a raid system and will farm on it as soon as MS is online … so +1 for RAID here


#50

Well, I’m amazed myself. I opened 10 past topics on this topic of PUTs and re-read most of them just to make sure it was mentioned before (and it was), but I just didn’t read it that way. Like those native American’s who couldn’t see the Columbus’s ship.

I will do the same and I already run some (non-storage-related) services in similar fashion.

What do you think about this scenario: you buy a 4TB HDD, need 2 in Year 1, so you donate 2TB to the network first. Then a year later you can buy a new disk, or remove some data. What do you do?
I think this is another scenario where running several instances would help because you could gradually wind them down, freeing capacity as you need it. It doesn’t really make sense to copy vaults around when the network fixes itself and it’s not seen as additional cost.

That’s what I’m concerned about - if the price jumps, it jumps for customers, as well as existing and future farmers. Would someone say “I’ll spend $150 for a new 5TB disk because the price went up 20%” when they won’t get any Safecoin until who knows when? Do we know it won’t be better to recycle an existing vault and kill off inactive data?

If the main motive to farm is altruism (as many here stated, myself included), the elasticity of supply may not be sufficient.


#51

Vaults fill up over time, I’m pretty sure this rate will be fairly stable most of the time. It should be simple to estimate how long it takes for a vault of a given size to become fully utilized, and also how much SafeCoin it will earn.

I think altruism will only be the main motive in the early days of the network, as it grows more people will get into it for profit. Besides, altruists are more likely to invest their earned SafeCoins in even more resources to farm, even if potential profits are uncertain. I’m not worried about elasticity.


#52

I think neither of those will dominate, instead most people will get into farming in order to use the network. That’s my hope and my prediction.


#53

what is RAID5 6??
How to set up?:joy::joy: