I would like to hear peoples reasons to be a farmer from day one when the costs are higher then the earnings:
@dyamanaka already made this calculation in another post: https://groups.google.com/forum/m/#!topic/maidsafe-development/IO7Zb4pq3XQ:
What is 1 safecoin worth in other currencies? From a US Vault Farmer perspective, I can valuate, using costs to generate per coin. See below.
S = Safecoins generated per month.
I = ISP (Internet Service Provided) monthly bill
E = Electricity monthly bill
H = (Hard Drive cost) / 12 months (life expectancy)
1 safecoin = ( I + E + H ) / S
I’ll assume the max generation (farming) speed at 24 coins per day, or 1 coin per hour. Which gives me roughly 720 safecoins per month.
S = 720
My ISP bill for high speed broadband is $70 per month.
I = 70
My electricity bill is $30 per month.
E = 30
The external hard drive I bought costs $120 / 12 (life expectancy) = $10 per month.
H = 10
1 safecoin = ( 70 + 30 + 10 ) / 720 = $0.15 per coin
At the most basic level, this is how much 1 safecoin costs in physical resources. Others will have a different results based on their situation.
At this moment people are selling for $ 0.0134 per Safecoin, and so it will cost me far more then I will earn. To be clear: I know the price isn’t relevant at this moment but Safecoin will have to be worth about 11 times as much to not lose any money.
The answers I can give myself are:
- Future price of one Safecoin
- You just want to contribute to a project you believe in
I guess the main reason for people to contribute by farming will be that they will make money, especially when they don’t really feel that they need MaidSafe, so my actual question is:
What can be other reasons for people to farm if it’s not for the money ?