Safecoin Pricing

Appreciate members comments on how the pricing of Safecoin will work. I assume it will initially be a one Safecoin for one Maidsafe swap. The what? Will Safecoin still be listed on various exchanges and people wanting to use Safenet have to buy from the exchanges?.

Also if Safenet gets more popular won’t Safecoin reach a point where the public sees it as “too expensive to buy”?

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Nothing… just 1:1. I’ve no idea how long they will leave the exchange period open for, I’d imagine a fairly long time. If SAFEcoins rocket in value the corresponding MAID increase in value by the same amount and will probably stay trade-able for a fair while.

I’d imagine most will buy it from exchanges built on SAFEnet, but I guess most clearnet exchanges will list anything for which there is sufficient demand, if they can.

Divisibility will get solved. People will be able to buy fractions of a SAFEcoin and the price of storing and hosting data will be determined by the network’s capacity/size and the resources available - it will cost fewer SAFEcoins to make use of resources as the network grows and SAFEcoin value increases.

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That sounds great. Thanks

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I was having one thought. Currently there are 452,552,412 Maid tokens on circulations with a market cap near $180 mil. As the project will get closer to launch the price is expected to increase specially after the beta launch. Now after the launch as there would be possibility to farm Safe Coin so the number of coins would increase. Due to this, is there a chance that the coin value would reduce in short time? I mean I am not sure how much you can farm in a month or a year in total. Maybe I missed something but can you please comment and let me know.

Thank you

Its been mentioned that its going to be long enough for everyone to exchange, including those who rarely check in.

Well as I mentioned before that about 2 year ago Poloniex expressed an interest even asking when it will be available so they can prepare.

My thought is that since the exchanges hold all the coin of the account holders they would exchange their coin all at once and rename the market at the same time. Since its a 1:1 there is no reason not to. The two coins will be worth the same since they are effective the same value.

Yes, it really is only a matter of deciding on what method to go with, but I’d say only absolutely needed when SAFEcoin reaches a few dollars each. But I hope a lot earlier than that.

You have missed something. The amount of coin returned for farming depends on network conditions. The more spare space the less coin for farming is given. The first month is likely to see a glut of spare space and so 1 coin per 100,000,000,000 GETs and possibly 1 coin per 1,000,000,000,000,000 GETs. In other words possibly very little coin for farming.

BUT even bigger than that there is “recycling” of the coin. In order to have farming people need to upload their data. People will be paying coin to upload their data and that coin is destroyed.

It is very possible that there will be less coin on day 30 than day 1.

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But, what will happen when Safe goes live and the market gets the early investor release of 226,276,206 Safe-coins (I assume these are Safecoins and not MAID)? Please correct me if I am wrong here:

  • Immediately after going live there will be 226,276,206 Safecoins available - the coins from the early investors. These do have the potential to lower the price of Safecoins?

  • MAID holders will have the opportunity to trade their MAID for Safecoins. Does this happen before the network goes live or afterwards? This could release anywhere from 452,552,412 to 0 Safecoins depending on what each individual decides to do with their MAID coins.

  • Does anyone know what early investors paid per coin?

  • Is there any guidance out there that explains this in detail? I looked at some older threads on this topic but still have these questions.

Thanks!

Firstly the market already knows about this and will have somewhat factored this into their thinking

Secondly they are reserved not given out. If an early investor wants to take coin for their investment in the Maidsafe company then they can. But would you? I’d wait for the company to grow and see the investment grow and I assume receive dividends rather than limit myself to safecoins growth.

they didn’t buy coin

Ummm the 10% (452 million) will exist when the exchange is happening. Any not exchanged are held till the person exchanges them so of no effect.

MAID and SAFEcoin will be considered the same thing since MAID is only a promissory token for the SAFEcoin. Exchanges CANNOT trade both coins at the same time since their MAID cease to exist when they exchange it for SAFEcoin. So to trade both at the same time is to be trading in non-existant coins (MAID).

So of those 452 million MAID there can only every be 452 million either as MAID or exchanged SAFEcoin.

It is a false fear to worry about if MAID is MAID or has been exchanged to SAFEcoin. There will not be any doubling up.

No guide as the actual mechanism of the exchange has not been formulated partly because SAFEcoin does not even exist in test form yet.

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MAID has been in my trading radar for years because of the Market Activity and I expect a tremendous rise in its value.

But Is a huge rise in value of MAID (10X to 100X) feasible? I read on https://maidsafe.net/safecoin.html that “Only 4.3 billion coins will ever be in circulation at one time”. Is this the maximum amount of coins that can be on circulation at a given time or is it the total? Immediately after the SAFE Network is live and Safecoin is distributed - how will the circulation happen (Like how new coin is created, why and at what amount)?

What should i read to know more about circulation?

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The million dollar questions… I have no reasons to back any speculation besides my personal hopes. I do know there is an algorithm that will calculate how many safecoins will be distributed for farming and i think the cost to upload data. This will have a direct impact on market value. I have 0 knowlege of the algorithm that will be used. And, Safecoins can be consumed too.

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It is the total possible.

But the total will not be reached. Issuance slows down as the number of coins in circulation increases due to the method of issuance. Also recycling of the coin reduces the number of coin as people upload data and the coin paid to upload is destroyed.

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