SafeCoin value at launch [Speculation]


#26

Thank you! I’ve missed that point!


#27

…and when the next day the Safecoin price would jump to 10000% all the neighbors came round that evening and said: oh that´s great, isn´t it? And he said: yeah, actually that´s REALLY great and exactly what I hoped! ka-ching!

Really enlightening how you try to turn the “hey, I think it will be worth a bazzillion times more than now” circle jerk into a senseful “conversation”. btw. beside the fact that a definition of speculation that contains the word itself is really kind of amusing, “rather than facts” actually means that facts are secondary, not that a speculative statement is the same as guessing without rational argument (which it isn´t). However, you are absolutely right that this conversation would senselessly go on and on and on, so let´s focus on something that actually matters, like the “value at launch” - very important issue.


#28

You seem to spend an awful lot of time in a thread discussing something that you apparently don’t find important and on top of that you don’t have anything constructive to add either. You obviously only posted something to annoy people and to bait them into a reaction. Shame on me for taking that bait.


#29

HAHAHA a man told me this story some months ago - and he looks nearly like the old chinese farmer in this video!


#30

@Seneca what do you think?


#31

I think speculators will jump on board during the launch period, causing a lot of volatility but on average a higher price than what we see right now. This will truly start when test-SafeCoin is rolled out.

After actual SafeCoin launch, the synergy of the farming rate algorithm and the upload price algorithm will have considerable influence on the price. We need to hit the sweetspot with them, if there’s over-issuance we may get an inflationary spiral, if too little is issued we’ll get stuck with significant wealth disparity and low SafeCoin user base growth.


#32

@Seneca do you have any rough projections as to when test SafeCoin will be rolled out?

My instinct was that it would be late this year or early next year from what I have seen.


#33

If i’m correct they’re planning the next sprint from DEV Bundle 2 right now. If I remember correct the next sprint will stabilize the released installers and the sprint after that will implement the features from DEV Bundle 2 (see the roadmap). One sprint will take about 1 or 2 weeks. They might need more sprints to finish all the features, so I think somewhere between begin or half oktober?

When DEV Budle 2 is finished we can use the following features:

  • Testing safecoin: Farming rate completion enabling measurement of algorithms
  • Farming attempt (farm safecoins for GET requests)
  • UTP Communication - enabling addition of community run vaults to the network
  • App Launcher

#34

Latest on planning what I’ve seen is this:

from MaidSafe Dev Update 31st August 2015


#35

So first (pre) stabilizing --> Messaging --> test Safecoin (1 sprint each)?


#36

Not sure how long testing to destruction will take actually, but I think the features (messaging and test safecoin) will take 1 sprint each, according to David’s quote above.

and that is the shiny new network for us to test to destruction


#37

Every investor has taken a massive risk by putting their hard earned cash into MaidSafecoin. Even now, as the first green shoots of the network push up from the dirt there still a massive degree of uncertainty about what will happen when the very cool ideas being developed here meet the crazy variables the real world is sure to present.

I’d be surprised if anyone would have invested, with such long odds, without sharing the ideals of privacy, security and freedom which are inherent to the SAFE network. Without this bunch of mad and idealistic risk takers we’d be nowhere near where we are today: on the brink of a decentralised and private internet! If investors got huge returns on their original stake then awesome, they deserve it for helping to breathe life into this potentially very important project.

Anyhoo, back to the original question - what will Safecoin be worth at launch… There is really no economic rule which one can really apply here, but I’ll throw some interesting ideas/numbers which influenced my finger in the air prediction:

Number of Tor users: [around 2 million a day][1]

Number of bitcoin users: [around 2 million-ish][2] (prob a bit under that I reckon)

Number of Spideroak users: [around 1 million][3]

These are some low end numbers I think ‘we’ should be aiming at I think and totally achievable in pretty short order if this is what many of us think it might be.

For higher end numbers I’d be looking at the number of Facebook, whatsapp and instagram type numbers (in the hundreds of millions of users basically).

It’s worth noting that Safecoin is very different to other crypto currencies. It’s attached to a potential runaway madman (the network itself and all the apps). Your Safecoin will directly relate to a finite portion of storage and usability on the network, so in an odd way it’s a bit like owning a certain % of shares of the network (as you would a company), not just an arbitrary % of available coins. At least that’s how it works in my mind.

This iteration of the idea might have some fundamental floor none of us is wise enough to see from here. Or it just might not get the exposure/adoption it could for any number of reasons, but anyhoo (for a second time), and back to the the original question (for the second time too)…

I’m going for $0.06 by 25th December 2015 (not my ‘launch’ guess but better than nothing), and $0.71 by December 25th 2016, $2.23 (10,000%) by December 25th 2017 :wink:

*n.b. never take investment advice from a dreamer :smile:
[1]: https://metrics.torproject.org/userstats-relay-country.html
[2]: https://www.reddit.com/r/Bitcoin/comments/2vuvxs/estimated_number_of_bitcoin_users/
[3]: https://spideroak.com/about/press


#38

Where is that algorithm ? Let me guess, It’s still to be decided.

Poker26 is right.
The fact that this algo wasn’t present at IPO and is still not fully clarified to this day is why I think nobody but the core dev should in their right mind invest in SafeCoin and expect a ROI.


#39

That’s not entirely true, the algorithm was described in the white paper at the time of the IPO and has been discussed openly since. It can’t “exist” until coded into the network, but otherwise it is quite well defined, but sensibly to be finalised as part of the network testing. Maybe at that point you’ll want to invest, but oh wait, Safecoin is 2x IPO, 3x IPO, who knows x IPO.


#40

I just re-read the “Token System on SAFE Network” at https://github.com/maidsafe/Whitepapers/blob/master/Project-Safe.md and have a feeling most of it has been changed and will change again when it come out.

Could you point to me where this has been talked and also maybe point to me the last / most complete version of this ? https://github.com/maidsafe/maidsafe_vault/blob/1b3d1bb8681c64827a5d3fd765e9235ae8ccae37/docs/safecoin_farming_rate.md

Thank you very much.


#41

Thank you for your opinion. Have a good day!


#42

That’s a great point of reference. My limited confidence of moving monies/coins around with my OSX and lack of understanding I have expected to await the ‘Install’ and even for the sort of IPO mentality price to fall to ease into a better understanding of its mechanics. I’ll be feeling my way in the dark blindfolded but listening to all the guidance. Dreams are good.


split this topic #43

A post was merged into an existing topic: MaidSafeCoin (MAID) - Price & Trading topic


closed #44

listed #46