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.
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.
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.”
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.
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.
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.
If that is the case, you can like your content an infinite amount of times and ruin the purpose. At least with a farming attempt, you’d actually have a net loss, which helps refill the pool.
Just to be clear, you’re paying 1 SC to cast a vote in favor of said content. This is not the same as tipping/donating.
Pay-per-Like doesn’t have to fund PtP. It can be a pure voting system, no farming attempt for the walletmark. But the whole point of the OP stated this…
Sure I could like my own stuff but not only is that kind of pointless even when likes are free (ex. facebook) but also it would be equivilant to taking money out of my wallet and putting it back in again. I gain nothing.
Btw I’m wondering if you read my proposed idea about priocoin?
Why wouldn’t someone just pay another directly? Then the person doing the liking gets to give the person they like their money.
Am I missing something?
Edit: just read the thread and it is an alternative to tipping. Not sure it is needed tbh, as tipping is fine fine for this. IMO, there is no need to clutter the core with this sort of thing, but could be an interesting lottery app.
I’m trying really hard to explain this because it is multifaceted, which makes it hard to understand.
Pay per Like is NOT Tipping… not even an alternative to tipping.
You pay to “like” something… that’s it. Pay 1 SC to click the .
Perhaps, I shouldn’t show what’s behind the curtain by explaining economics in the background. It might be easier for people to understand.
UPDATE
After more consideration, I removed the “farming attempt” for the walletmark. This means Safecoin from “likes” is recycled into the Network’s farmable coin supply.
Users spend 1 SC to PUT (+1 ) linked to the walletmark address.
Any APP can pull this data (walletmark + ) and display it.
The walletmark owner cannot infinitely pay Safecoin to “like” their own content. Those that try, add more Safecoin to the Network’s income, which helps circulation.
The application developer rewards are seen as a good start to pay creators of applications on the app popularity, measured via its use. This design incorrectly identifies the measure of use as the number of GET requests the app carries out. A better solution should be found for this measure. – Maidsafe Github RFC Repo - Proposed - Safecoin Implementation
What’s a “like” worth if it’s not worth Coin? (And don’t just say SAFEGB - I’ll just ask the same question)
If I understand correctly, this is all about visual representation of reputation. Couldn’t any given piece of content (given an app that can accept and display the value) just have “I’ve been tipped this much for this content” displayed next to it - similar to how reddit has gold (gold x2, gold x3, etc)?
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