SAFE-FS Live Crowdsale Thread

Extra thread, please delete this one.

Was a thread to promote the crowdsale, and as its now over, this thread would best be closed, so people searching for SAFE-FS can directly find the main thread only

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Hi @whiteoutmashups , I’m interested to participate after having done a thorough due diligence, however, the first document I try to open from the dropbox links gives this error?

In the details it says “This file is corrupt and cannot be opened.”.

I took that document from here:

http://forum.safe-fs.io/t/safe-fs-all-documents-released/203

I will check and re-upload, but this is why we pasted all documents in plain text on the posts also. Here is the link to the post for that document.

Were you able to see the documents in that way?

EDIT: Have also just updated the link structure on the page you were referring to, so that this can’t happen to anyone else

Can you maybe answer some of the questions or point me in the right direction as I’m a little confused.

  • Is this coin some other coin than safecoin? This will be an application that will utilize safenet and in order to use it people will need SAFE-FS coin instead of safecoin am I getting this right?

  • How long will the data be kept? I’ve read some other projects related to bittorrent like service explaining they intend to keep files forever but that would not be feasible in such a network. Files should be pruned and I do not see how that’s possible in any of your explanations.

  • Will we be able to see where you spend the money in a regular format?

  • What is the target for the crowdsale? As much as possible or is there a specific funding goal?

I don’t see your profit claiming process as viable or attractive.

Unless the profits are very high it is a lot of hassle and probably not worth claiming (so not an incentive to invest). If profits are high enough to justify the effort, it is still not something you want to have to go through every month (so again not much incentive to invest). It could also be onerous for you to administer.

How about this instead:

  • to claim profits for a given month you must register your coin address by the 1st of the preceding month. Each address need only be registered once and will remain registered until such time as the coin balance is found to be zero. After that, it will have to be re-registered.
  • to be eligible for profit distribution for a given month, the balance at a registered coin address must be the same on the first day and the last day of that month, at the times on those days when the balance is sampled. Sample times are any time during the given day according to the XYZ time zone, and are not known to you or made public in advance. Balances will be sampled and recorded automatically and the results published, and profits distributed by the end of the following month in advance with the results of the sampling of all registered addresses.
  • if the balance sampled on the last day of a month does not exactly match that from the first day of that month, you will not receive a profit distribution for that month but may still qualify in subsequent months so long as the balances are equal at the start and end of this month’s.
  • so there’s is no need to re-register an address just because you add or remove some coins to or from it, but you will lose your profit share for that month if the balances are not the same on the first and last days of that month
  • if a balance of zero is found during either the first or the last day of the month, the address will immediately become unregistered and will no longer qualify for profit distribution until re-registered as defined above

@whiteoutmashups I think this can be almost fully automated for you, and requires coin holders only to notify you once for each coin address. They can still vote inbetween times so long as votes do not overlap with a day on which samples are taken.

I don’t think it is feasible to try gaming the system by moving coin balances around because there’s no way to know when individual addresses are sampled or in what order. All you have to do is take the samples in a random order each month.

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Yes sir, we have been receiving thoughts on that document and added the following clause to register your SafeCoin wallet longer term, also available in the updated SafeCoin Profit Delivery Document:

“Registering Longer Term
To register for your SafeCoin Profits long term
without needing to Issue a Claim every month, you need only to Issue
your Claim successfully once as explained above, and then ensure your
SFSC balance either remains the same or increases afterwards. If your
balance is seen to be the same or higher each month after you have
Issued a successful Claim, then your SafeCoin rewards will continue
to be claimed, and sent to the wallet information you have provided.
Once your SFSC balance lowers, however, a new claim will have to be
issued. This is important to prevent possible overhead of maintaining
many addresses that do not hold meaningful amounts.”

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These SAFE-FS Coins are to be traded on exchanges, and that is what we need to account for here. That is why it’s not as simple as the SafeAppStore Coins in terms of dividend delivery.

But I do think these updates above make it much easier for long term holders to easily receive their SafeCoin Profits every month without work involved

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It is much more similar to MaidSafecoin, a typed of marked bitcoin, that represents voting rights in the App’s Governance Committee and can be used to claim the owner’s portion of the App’s profits

This is more of a SAFE Network question, which you can search for and read about on these forums, but overall the answer is forever.

We have began creating public SafeAppStore financial updates and will release these with SAFE-FS at important intervals as well

We have laid out costs for the project here

Yes, I can see the text of the documents now below the download link, which is very helpful, so many thanks for that!

However, the download link points me to Dropbox, and when I download from there (without registering, but that doesn’t matter I think) then I still get this error when I try to open the file. I’m using Microsoft Office Professional Plus 2016, not sure if that has anything to do with it?

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Just went through and created and added .doc file links to all of the Crowdsale Document posts, for example here is the Risk Disclosure document you referred to.

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Now that works like a charm, thanks big times! :slight_smile:

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Of course I’m supporting this :stuck_out_tongue:

Good luck @whiteoutmashups

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Do you have a target date for app launch?

If dividends are a part of the project, is there a real need to list this on exchanges immediately?

I’m uncomfortable with an implied promise to have this listed on YuanBao and Polo as a primary goal. I like everything else.

I did not understand this at all.

  • Why do I have to issue claim from an account every month? Is this an account that we will get once the SAFE-FS is operational?
  • Why does my SFSC account need to have an increasing balance in order to get further deposits? Can’t I sell them while getting future profits? Isn’t this like a bank account, I can have 0 USD in my bank account and still get deposits.

I’m thinking of contributing but there are lots of things I don’t understand. Here is a couple more
Who will be paying for this service? Is it people who do not like Dropbox, mega, onedrive etc.?
Will it be cheaper than the services mentioned above?
Will there be a free tier?

This has been discussed and revised, and a clause has been added that will require investors to only Issue a Claim once, and if their SAFE-FS Coin balance stays the same each month, then they will not have to Issue any new Profit Claims.

Available in the updated <a href=“http://forum.safe-fs.io/t/safe-fs-safecoin-profit-delivery-program/201/1” target=_blank">SafeCoin Profit Delivery Program.

Our goal is to ensure Claiming your Profits is as streamlined as possible, and we will add options for this where neccesary. Currently considering adding the option of @happybeing’s proposal above as well.

SAFE Network Apps earn SafeCoin simply by people using them (issuing GET requests), and this is where these profits come from. There is no need to place ads or sell people subscriptions, like Dropbox, Mega or Onedrive

First time investor here, I’ve made some depsits to the account and I hope even with all the risks you can be successful. I wish I was here to fund the previous appstore crowdsale.
Should I join the safeappstore forum to follow what you will be doing?

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Please do, there are many discussions and documents there and will be more as they are made. The SAFE-FS and SafeAppStore forums are both shared at one website:
forum.safe-fs.io