- How would I transfer my MaidSafe coins to SafeCoins when the project goes mainstream? I know it is a 1:1 ratio, but I would like to know how to get my hands on Safecoins.
- Is Omniwallet completely safe?
- When is MaidSafe to SafeCoin transfer going to be approximately available?
I’m new to all this and probably sound like a noob but just want some clarification. Thanks.
Hi @Tristan_Cota welcome to the forum
IMHO this is not clear yet, there has been talks about send Maidsafecoins to a burn address, but it’s not clear yet at the moment.
If you enable MFA in your wallet, it’s better protection for your coins. Nothing on clearnet is safe IMHO.
Also not really clear at the moment. We are waiting for vaults in every household, once that is done we’re really close.
Maybe fun for you as newb, you can play with a wallet on the SAFE Network:
As I understand it, there is no MultiFactor Authentication (MFA) for Omniwallet because it’s all client side; as such is one of the safest wallets - no pun intendid. The private key signs a transaction request and that is sent. The risk is only how safe your private key is. Same is true I expect of CounterWallet which is in essence the same use of bitcoin blockchain.
They did a update, like a month ago, now the wallet luckily got MFA. Check it out when you login, you can enable MFA, by checking the box: I’m using Multi Factor Authentication
You can use Authy, Google Auth or even Lastpass Auth
That is rather odd, given that nothing of the private key was being stored previously… I suppose access to accounts is always an issue. MFA impt for exchanges and any other that does have the private key, of course. Omni previously was just information that the public key == address would see. Perhaps they’ve added more for the mooted distributed exchange.
I Also have some question hope you dont mind me asking here, save overflow of question topics on the forum
Is there any estimation made about the inflation of safecoins, cause now only 10% is out im afraid
for a inflation of 10% a year, cause that might be a bad influance on the price for investing.
Is it true people can make there own anonymous tokens just like safecoins on the network ? This
Would be not perfect for safecoin value, cause for example black markets will use there own token etc.
Nobody knows, it depends on how many people use the network, supply and demand etc. Remember that Safecoins are "burned’ when someone PUTs data to the network. So the more people store new data on the network, the more coin get out of circulation. Same for structured data which is way more expensive, if we have a lot of structured data on the network, a lot of coins are burned so to speak.
It also depends on the algo’s used for Farming. Are new coins created to easily?? Less people will Farm them as the money they make is to low. So now the Farming Reward goes up and people can make a bit more again.
So, nobody really knows. We’ll see with test_Safecoin.
Not yet but it will be possible. I think it’s a good thing:
Forget about inflation, because there is a fixed amount of SAFEcoins and the SAFEcoins coming into existence is dictated by network growth.
You need SAFEcoins before you can do anything on the SAFE Network, more over these black markets will probably be on the SAFE Network powered by SAFEcoins.
Thanks for the answers, love what maidsafe does! Wish it all the luck.