Officially, Safe Exchange - Crowdsale

I don’t think that there is infringement on a Safe Coin trademark. Exchange Coin is a distinctive name. Safe Exchange Coin even also is distinctive and has clear and obvious terms.

Tell it to the user named: safecoin.

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What do you envisage the site will primarily be used for? Can you give us a lay persons example of the types of day to day problems the site solves?

How do you plan on marketing it?

By the way, all the best in your endeavours.

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10am PST / 18HRS GMT LIFE IS PEOPLE #94 @dallyshalla we will be discussing Safe Exchange https://plus.google.com/u/0/events/c2fdjumacqm7e5tna0uc7f29n8s

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I think there is scope for confusion. Partly just because the names are similar, but very much so in the white paper because it talks about both without pointing out there are two coins.

I had to read that very carefully to be sure I wasn’t mixing the two coins up, and I think it’s likely that someone who doesn’t already know about Safecoin will think that the white paper is talking about only one coin.

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@happybeing I did a “pull request” incorporating some typos and many thanks to @fergish kindly, for illuminating this;

As well as addressing directly with updating and more clearly demonstrating the two different currencies in the paper.

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HUGE S/O to @dallyshalla for coming on LIFE IS PEOPLE was inspiring conversation #safex
LIFE IS PEOPLE #93 Daniel Dabek - SafeExchange
https://www.youtube.com/watch?v=4Dtn74Mzfqw

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needed one of these… so here it is

many thanks to @eblanshey for motivating me to get a banner done

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How does one claim their Safe Exchange coins? For some reason I can’t think of any way to accurately know whose is whose.

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Similar to the way the crowdsale for maidsafe did it, the distribution will be handled at the end of the sale , and sent to the address that each person used to sent their coins to the crowdsale addresses .

it’s slightly different than maidsafe crowdsale because maidsafe was fixed price however here it will be distributed at the end and your share is determined after all has been deposited then equally split up and bonuses included and counted for

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Great question @Audity

When you send bitcoins or maidsafecoins, the address from where you sent the coins is known. This means that I can send back to that same address the Safe Exchange Coins. Since you’re supposed to send coins from where you own the private key, or you control it directly that means - dont use some service to send ore receive such as coinbase, or poloniex.com

So you can then later when you get the Safe Exchange Coin you can use it similar to how maidsafecoins can be used.

https://blockchain.info/address/1Dyc5rNwbttzVJ5Cgy7DSE4XmxmXZaGeXy
http://omnichest.info/lookupadd.aspx?address=1JSBkDAwXz6gx6LasMepJP1rv8SRarz95C

if you go through the list: the address on the left will receive in return the correct proportion in Safe Exchange Coins at the end of the sale.

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I just posted a couple of links on Reddit:

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Finally got a chance to read the whitepaper.

This is something like counterparty inside of safe. I have been thinking about this in the last year non-stop. Great to see it happening.

One thing I would make an emphasis, trust should be generated via transactions. For every transaction, it has a chance to give him + trust or return - trust. This is obviously abusive. Dota 2, LoL, CSGO, TF2 all has reputation build in, and only can be earned by completing a competitive match. But it only can be graded once per player. So back to safe, how about one account | one trust. Transaction trust should not be bought nor sold.

So what does safex account will look like?

Few weeks ago, I reworked on a excelsheet - DnD character account with reputation system, 52 weeks calendar, todo list, anti-list sheet, do not break the chain, and self-review. They all add up, and expose your strengths, and weakness in your areas. The performance is awful but likewise, it was a prototype for a decentralized global ID system, that anybody can see/review personal/anonymous identification.

What if we give an account 5 options to build a reputation system; Ethics, Morals, … When user gives an review, it creates a 5 point graph. Users obviously want to see account before purchasing. With this, it can see the person’s reputation, reviews, 5 point graph, work history, resume, and his transaction (if desired). Why 5? Because 2-3 isn’t enough to provide information, and nobody has time to response more than 5 questions.

This account creation is pluggable into any of the safe apps like games.

Why recreate new account when one should sufficient?
Why recreate reputation system in every game, when one account will do?
Why rewrite a job application when one could look at his profile?
Why submit/print resume when one could give him a link to his account resume?

List goes on…

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It at least looks similar to this:

pub struct Profile {
    pub username: String,
    pub password: String,
    pub alias: Vec<Alias>,
    pub private_key: String,
    pub public_key: String,
}

Master account is a profile with many aliases inside:

The real magic takes place on the alias level.

pub struct Alias {
    pub name: String,
    pub bitcoin_public_keys: Vec<String>,
    pub bitcoin_private_keys: Vec<String>,
    pub safecoin_public_keys: Vec<String>,
    pub safecoin_private_keys: Vec<String>,
    pub items: Vec<Item>,
    pub selloffers: Vec<SellOffer>,
    pub buyoffers: Vec<BuyOffer>,
    pub public_key: String,
    pub private_key: String,
    pub item_trans: Vec<ItemTransaction>,
    pub coin_trans: Vec<CoinTransaction>,
    pub friends: Vec<Friend>,
    pub mock_balance: i64,
}
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I’m listening to the podcast right now…great to listen to. Based on the hangout and the podcast here is a couple of libraries/docs I have stumbled on while on my pursuit to make a crowd fund contract I make for a project enforced by an autonomous program. My hope is to have the revenue made from the project return back the way defined in the original contract without individual ability to manipulate it…unless changes voted in by all investors (Included in original CF contract, example 81% of FCC-voting tokens voted yes for a budget change). Seems token voting in Counterparty seems to be going the direction that makes the most sense to me at this point.


https://counterparty.io/docs/counterparty_features/#paying-distributions-on-assets

http://www.blockscan.com/vote/XCPELECTION
http://www.blockscan.com/votes

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I see there’s a lot of new stuff on the main site. I will get to that, though I wanted to talk about something.

A little brainstorm here: how would it be possible to have as little classical interaction with commercial Banks as possible? Or will there ever be vastly proliferated banks that have a high association with innovative technologies rather than solely Paypal (maybe Paypal is still good, but it’s usually the much more expensive route currently). If I want to put $10,000 or $100,000 into Safecoin (by trading with those who have offered their Safecoin, on the Exchange—which by the way if people are offering those large sums of money, it would heavily increase Safecoin’s “VALUE” inherently, regardless of whether it’s intrinsic or another type of value), are there ideas/development towards a cheap way to transfer wealth to and then/thus hold Safecoin? Anything has a security risk, but Safecoin has the potential to be so safe and secure (eventually) that the entire world will put all of their wealth into it. (Backing it up with other means would be secondary – as complex as that sounds, though I think it could be possible.) That kind of takes the importance of this exchange to absurd levels. All the more reason to develop the most innovative things to make it easiest. I may be behaving highly zealously by thinking that global wealth would have little other outlets than Safecoin; Though, it could emphasize the need to make “hard drives” as structurally impervious as possible. Much like a bank.

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I think The SAFE Exchange is already set up with plenty of banking interaction without writing a single line of code…Bitcoin is already taking care of that.

Every day it is getting harder for banks to ignore Bitcoin, the amount of public vc money invested in Fintech (that is their language of expressing importance) Bitcoin projects says it all. Bitcoin is the perfect bridge between the old world run by a few to the new world run by everyone (including bankers), but SafeCoin is so far across the sea of innovation I don’t see banks/PayPal looking the same.

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I think sincerely that Safecoin is a tremendous store of value; and it is an fruitful commodity for which to base trading. Though I;m sure that some contracts would become ‘credit worthy’ and can offset the requirements of an anonymous currency, imagine successfully bartering chickens for eggs. I think that Safe Exchange can bring us to that kind of clearing house.

It will take some code to complete the bridge between Bitcoin and Safecoin; though you’re very right there, where Bitcoin has already done a lot of the homework on combining itself with banks so the friction into Safe Exchange and cryptocurrencies into the future have some alleviation through services that rely on Bitcoin.

And we can tap into those resources and link them directly to Safecoin, and make it easy and liquid for allocation of resources.

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I think the key is to create new value, rather than to focus on transferring value from the legacy systems. Everything is denominated in fiat currencies. That’s how people think of them. Generating a separate ecosystem from the start will then allow the value currently wrapped up in the fiat mindset to bleed off naturally, rather than having to tap it from the start.

This is where Bitcoin has a disadvantage. It is also where Bitcoin will be of great service in the long run for starting the bridge.

But first out of the box, safecoin is going to be a ubiquitously held asset looking for means to be expended, rather than a closely held asset looking for a way to get dispersed and adopted.

This is where the Safe Exchange and the like is so very important. It will allow a broader reach for the safecoin economy, as well as allowing people to start anonymously or publicly exchanging anything for anything, including fiat (but not restrained by fiat, as it is now). Safe Exchange or not, I think safecoin is likely to go into use on the basis of personal interactions amongst known parties for very mundane stuff: eggs, commuter ride-sharing exchanges, personal services, babysitting, etc. Even without the Safe Exchange we’re looking at building a very different model, due to the granular dispersal of the asset.

I’m going to start accepting it for anything I can, right from the start, and encouraging friends to set up nodes with the assurance that I will pay “good money” (fiat) for any safecoin they don’t need for PUTs or other things they might want to use them for. I doubt it will be long before they would rather keep their safecoins!

That is when the floodgates will open between the assets that people think of as fiat-denominated being thought of more and more as crypto-denominated, and especially safecoin denominated. It very well may become the defacto gold standard against which other exchange means become measured. (That’s my runaway optimism talking, but I’m excited that the trend could go that way.)

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The greatest barrier to entry in the crypto arena that I see is the fact that you still need to convert fiat to crypto at some point…and at this point in time you need to jump through hoops to get the “permission” to do so.

Until we can bypass the fiat entirely they will still have some level of control to the access of digital currencies. I cant wait until the day that businesses transact and pay employees in digital currencies and cut the banks and governments out of the mix entirely!!

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Just this there, since Safecoin is more distributable over time, and fairly; it means that it reaches more people, and if they wanted to monetize their Safecoin it is easy to do so; and somewhere in the chain of transactions its going to get spent to store data. Consider that even every action across Safe Exchange costs some Safecoin(and any other method anyone may come up with), then Definitely Safecoin is going to be constantly circulated. Every new event people consume with their data costs Safecoin at some point whether a picture or a webpage; even a movie,… it’s a fascinating system.

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