Safecoin price and economics

Hey all,

I’m relatively new to following SAFE, but from where I’m standing it seems a very disruptive project holding immense potential.

I see many people have hold positions on the MAID coin. At first glance it seems really undervalued at only $16m market cap, but I see we are talking about only 10% of the total coins in existence, the rest open to be mined/farmed as resources come into the network. Furthermore the pricing will be dictated by demand and supply dynamics between farmers and app users needing the coin to run the app.

So if there’s a glut of farming the pricing will go down, if there’s an increase in apps and app users beyond the increase in farming, then the price will climb. If this is true, the market price of MAID will vary wildly and could totally go downwards upon its launch if there’s no app users out there.

Doesn’t this mean MAID isn’t necessarily a great investment? We are not valuing the network with the marketcap, it’s just the working fluid. Maybe a good analogy is global M2 money supply. The M2 money in existence does not equal world GDP, nor does it equal the value of all property in the world.

Thoughts?

Cheers
-WW

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I’ll only speak for myself here, but I have heard similar responses over the last year or so. My potential wealth generated from SAFEcoin investment (IPO/further collection, Farming, APP building) is not the primary reason (or secondary, third, etc) why I am putting so much of myself into SAFE.

If the value of SAFEcoin ends up being close to zero, but it has mass global adoption and I can pass that on to the next generation then I will consider myself wealthier than ever imagined.

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Not only that, I also expect a lot of demand by people not wanting to miss the train like they probably did with bitcoin, wanting to hoard them while they’re cheap. The rate of growth of the network will influence this hype level considerably.

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If my house burnt down tomorrow, everything would be replaceable. Everything except the 250 gigs of digital photos of my young ones, the wedding photos, etc… Right now, i have them stored on random external hard drives (because i don’t trust the cloud services - not that i have any nudes of myself), just waiting for SAFE to launch so i have that forever backup. I can imagine there are thousands of people like me just waiting for that storage capability on launch.

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I believe that most, really pretty much all, bitcoin commerce is done on darknet markets. This is the main force holding up the price. Safecoin is much more suitable for this purpose and will replace bitcoin. Maybe not the best PR but I think this is inevitable and will have an impact on safecoin.

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Community Announcement:

A random hard drive containing family photos has been found and handed in at reception. An example photo is posted below to aid the return of the personal property to it’s rightful owner. If anybody recognises the photo then please contact the lost property department.

Thanks

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It would be super if the price goes down. That means that you can buy more SAFEcoins. App users or no apps on the SAFE Network is not the problem. The SAFE Network will just be a great playground for developers/normal users. Imagine launching your app in an environment that can’t be hacked. Even with the price of a SAFEcoin at $0, you would be able to provide a service and users can make use of it.

Everybody with a Maidsafe client can get SAFEcoin, this mean that it will even grow more than bitcoin. bitcoin is only spreading through exchanges and third parties. SAFEcoin is spreading through every user who installs the Maidsafe client.

The open ssl bug, was already a warning sign that the old internet and cryptocurrencies that depend on these technologies are not really safe. SAFEcoin is powered/backed by a far more secured new internet. While bitcoin is in the process of figuring out how to get past it’s transaction limit, transaction fees, blocksize/time. People with SAFEcoin will just send eachother coins for free and instantly.

And your right MAID is not a great investment, because it still runs on the bitcoin infrastructure. But once we can exchange MAID for SAFEcoin it’s a totally different story. If the foundation that you build on is shaky, don’t be surprise when things go wrong.

@Al_Kafir :smile:

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