They couldn’t take it. A small group of worst users was using 14,000 more times than the average
That brings a
smile smirk to my face.
Well giving out free stuff is not sustainable. Google drive will face it’s consequences as well.
I think this pretty much settles the discussion on whether free PUTs are sustainable.
This is good news as it undermines the advantage of competitors who buy market share in storage. If Microsoft can’t do this, that means it’s really hard on all their pockets! We can expect more like this (hopes ).
Not sure if this was already discussed in another thread, but Amazon unveiled “unlimited storage”.
For photos, videos, music, documents, and more
Accessible via phone, tablet, or computer
Safe and private with Amazon security
$59.99 per year
Wonder how long they will offer this service.
It will be interesting.
Like a lot of “unlimited” the T&Cs and fair usage contracts will limit a lot of misuse.
Do they have any rights to the data, even if just statistical? Like google has for instance.
Many people find that once they have unlimited balance they actually store less than when they had a very large balance.
It just caught my eye yesterday as I was researching into SafeCoin farming though, and looking into the costs of what a PUT should be, and how much storage I would need in order to earn something worthwhile to setup a farm. Looking at other storage options out there, including Storj, I can see that the cost is pretty cheap and there is much competition across the board… also distributed storage is probably one of the most replicable features of the Safe Network.
I can’t see how it would be possible to earn some decent profits by setting up a specialized farming cluster if SafeCoin would be valued only on it’s base storage value. Or even to just farm as a casual user… it requires jumping through a lot of hoops; and then what can a user hope to purchase with their earned SafeCoin? What are the other applications on the network that can be purchased with SafeCoin only? This will affect the price on the exchange as well, so even though the network may have lots of potential, it seems that it would thrive when the price of SafeCoin is valued higher (the overall marketcap) and then the community would find it worth farming for or worth buying directly.
This is heading away from the original post topic, so maybe it belongs in a different thread, but what I’m trying to figure out essentially is ‘What should the marketcap of SafeCoin be?’ More ‘active’ users should equal greater market cap, right? I don’t know if it makes sense to compare other storage companies valued in the billions, or other Cryptos valued well over 100 million. Safenet will probably replace all TOR sites and all DNMs will inherently be able to accept SafeCoin as payment, while providing anonymity. So should SafeCoin have a market cap equal to that of Monero at least? I think by launch it definitely should.
Besides an anonymous online marketplace, other apps that should be very valuable and not easily replicable are communications that provide services such as decentralized email and anonymous phone calls. These are unique services which should provide Safenet an influx of users it will need to grow successfully. But how will the farmers profit from these services? Seems like if it will cost a PUT to send an email, that those coins will be continuously recycled by farmers using the email app. At least that’s an incentive for farmers to continue providing resources. What about real-time communications? Will farmers be rewarded for helping streaming data get from one point to another? Maybe I’m not understanding how live communications will work on the Safe Network.
Another advantage over commercial storage providers is data perpetuity. Although there are blockchain providers such as LBRY that have goals of archiving massive amounts of data, Safenet should be able to do this more efficiently and serve files more effectively. Same with a BitTorrent type app, or Kim dot Com’s endeavor… I would imagine that the data availability and speed of the Safe Network would work best for these applications. I really don’t know what the speed of the Storj network is, but it would interesting to find out it’s performance and costs as opposed to Safenet. Putting all those files on Safenet would be a great start and incentivize early farm setup.
Alright so I think I’ve convinced myself to further look into building out a farm cluster. Storage may always be cheap while SafeCoin is cheap, but it should always be cheap no matter SafeCoin price. So, maybe in the beginning, farmers earn lots more of cheap SafeCoin, but as more apps come out and active users grow, SafeCoin will be more in demand and many users buying from exchanges as well, pushing up price while keeping supply in check. The only thing that needs to happen in order for storage to remain cheap and SafeCoin to appreciate in value, imo, is that the coin must be divisible.
Off to the farming threads…