Some mental questions arose while preparing for the ANTs hangout today.
The current PtP and PtD implementation (Pay on GET) helps distribute Safecoin in a BIG way. Let’s walk through a hypothetical scenario…
The SAFE Network starts beta access. Early adopters start farming immediately. Those who “have” Safecoin upload content, including apps. Media buzz attracts new users who have never heard of SAFE.
GETS are free, so new users can “immediately” browse the SAFE Network. But while they have the ability to Pay-per-Like, most will not have Safecoin.
I tried to answer these questions from the perspective of a “new” user.
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Will new users start farming, or acquire Safecoin from an exchange like SAFEX? Some will, some won’t. I think most will be curious at first. And depending on their experience, they will decide to participate in the economy or not.
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Would users that have Safecoin spend it on “liking” apps and content while the fiat value is rising? I personally won’t. As an investor, I won’t spend it on uploading either. My solution was SAFE GB, an inflationary secondary currency. Cost of LIKES should be very small, encouraging people to spend it on their opinion. “For what it’s worth, here’s my 2 cents.”
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Are consumers motivated to “tip/donate” free content and apps? This is a hard one. The current internet offers a ton of free stuff. I have never tipped/donated any of my free software. My personal reason is because my fiat money is spent on things I need like: rent, food, gas. If I was wealthier, donating $1 wouldn’t feel so hard. I think this is why Dodge coin worked so well for charity. People could donate really tiny amounts and not feel like they were sacrificing food on their table. If Safecoin is “easily” earned, people may be more willing to spend it.
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Would non-farming users migrate to SAFE if they could “earn” Safecoin from PtP and PtD? This is debatable, but I think the motivation would be pretty strong. Right now, I don’t even pay to post on this forum, and I’ve made a LOT of posts. I am more willing to post on SAFE if I can recover my PUT costs from PtP.
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Why would a user not farm? I think some user don’t have the ability to farm. More people are relying on smart phones only. I do recall farming on mobiles is not practical right now. Maybe in the future but it’s hard to tell. If mobile farming was possible, practical, maybe even profitable… then SAFE will annihilate Bitcoin.
Anyway, people will have different answers because we’re not all the same. I’m more interested in what actual works than what I personally want from SAFE.