What's wrong with Bitcoin, and can it be improved?

While interesting, the underlying network is still secured by PoW and (when the switch occurs) PoS. IMO, time needs to be a consideration at the foundation of the network.

This is a feature, not a bug - you use the security of someone else’s network and monetize time without burning energy for security. What I wanted to point out is that since there are 3 such contracts that do this and there are millions and millions of $ locked in these contracts, your intuition is correct - monetizing time is something that thousands of people want now, and probably millions after time.

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Will we have a halving event?

They haven’t finalized the rate of production yet, so we don’t know what the rate of token production will be. But there is a fixed total amount that can ever exist - same as with BTC.

Many coins have a fixed supply but they don’t have a halving event which in my opinion is very powerful.

I thought the Safe Network needed the price to be a function the number of vaults to provide sufficient security. So if the network doesn’t grow it cant sustain high valuations. I might be misunderstanding it though.

You are right, well perhaps we can say “if data use/storage does not grow” to be more exact.

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So what happens if the price got pumped by a crazy speculative crypto pump before launch. Say we hit 100 dollars before launch…how would we cope with that until adoption was sufficient to provide security?

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This is a good question.

Given we know that more user data breeds more sections, I’d say we would need to appeal to lots of folks to upload data. If the price was truly mad, using some of that money to pay others to upload their data may also help. Maybe that isn’t a terrible problem to have?

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I would cope with it by selling massively, profiting while taking the price down. So would a lot of others who have much more.

It seems like it would be a very costly attack for whomever did it … and for what gain? The network would just be relaunched and they’d have to repeat the same failure and lose money each round.

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If that happends, you can expect the members of community to sell a bunch and getting rich. Once unsustainable price goes back, you have the same people with the pockets full of BTC helping to support the price from bottom.

But who knows, maybe 100$ before launch will be sustainable. Now I see myself holding only around 65% of my current when MAID is at 50$.

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The difference between SNT and FIL is, that miners from FilCoin can not sell more than few percent of their FIL holding, so they can not profit from actual price much, while SNT does not have any stake system to force farmers for holding only.

I like your optimism.

So would it be fair to say that it is not in Maid safes best interests to have a high coin valuation before launch?

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Maidsafe holds tokens too and will get a lot more after launch. So I think we can expect that if price goes too high and becomes a threat to the network, they will sell and profit as well.

So I don’t see anything that would deter the network survival here. There are plenty of market forces ready to support it.

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It just seems like this never gets mentioned within all the exchange talk that goes on. Seems pointless for people to be pushing for exchanges etc if price increase would be an issue for a good launch.

We can’t really know if it will be an issue. It depends on network growth, not just token price … and given the farming algo hasn’t been finalized and that they are still working on models to best enable the network survival … I think we just have to wait and see what they come up with.

Won’t be long now.

What is the magic number that is too high for a successful launch?

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Good question.