Why does the SAFE Network require a SAFE coin instead of using something that is already somewhat of a success story in this field?
In other words, why try to re-invent the wheel and ultimately compete with Bitcoin?
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SAFE settles immediately â Bitcoin takes 10 minutes. SAFE is untraceable. Bitcoin is not.
SAFE needs an accounting system anyway â to make sure people donât take more than they give. It is a fairly ideal platform for cryptocurrency as it already has a consensus mechanism built in⌠So if you are going to build something you may as well build it full featured.
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Because safecoin is NOT bitcoin. Bitcoin is psudoanonymous and is strictly for currency transfer. SAFE is true anonymity and is first and foremost for measuring resource transfer between users and the network, the fact it can be used as a currency is simply a secondary feature. Safecoin can be transferred anonymously to anyone, has no blockchain, and travels at atomic speeds which means there is no need for consensus with the entire network and thus speeds are much much faster. One can also put data inside a safecoin and use it to transfer data.
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http://maidsafe.net/docs/Safecoin.pdf
I suggest you familiarize yourself with the wheel first.
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Been around for a while. Understand SAFE coin and all the features. But thatâs not what I was asking.
Then perhaps you should clarify the question.
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Also because SAFEcoin is within SAFE â it is substantially more secure than bitcoin â Which is pretty difficult to keep secure with rampant malware etc⌠SAFE is a security system â I suspect people will store their bitcoin wallets on SAFE to keep the keys safeâŚ
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Came here to say this. It is a phenomenal system, and I fully invest into this idea.
Dully noted on those who do not understands what atomic network means, more info below.
and
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Hmm⌠Because itâs 9,999,999,999x better!!
itâs more like actually inventing a wheel, for the first time ever, when all we have today is âblockyâ squares⌠
A SAFE Network wouldnât be SAFE or anonymous if it ran on BTC because BTC posts everything to a public ledger!! Lol!! Whereâs the privacy and freedom in that???
Also itâs a bajillion times faster than using BTC and⌠NO FEES!!! yay!!
âŚand ANOTHER thing⌠If it ran on BTC it would take at least 30min to send any message across the network because you gotta PAY for your data!! Imagine waiting 30+min to send every email / message or upload ANYTHING?! BTC confirmation time suxxxxxxx⌠I could go on all day!!
tl;dr
They made a new coin to fit the new network. They started from scratch so they could make it perfect. Itâs such a better invention than bitcoin
EDIT: (after seeing replies and rereading my message here, I just wanna say Iâm definitely not trying to put anybody off or be a smart-@$$, Iâm just extremely excited for SAFE:)
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No need to be a smart ass mate. Its people like you who frighten people away from this community. This is a forum and the very definition of a forum is that of discussion. For all you know English is my second language and my technical aptitude may not be as high as yours. So pull your head in.
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Some people have gotten irate pretty quickly at this question. At this post.
Makes me wonder why I even bother with this community as an outsider to the programming and tech world. Maybe I should just stay away.
OR
Maybe those too quick to throw stones should consider there place and THIS place. This is an open, public community. These forums can be read by anyone and anything and coming across with this arrogant privileged mentality of entitlement to the idea and community against someone who is asking a simple and innocent question might not be the best way to also come across to those swinging by to check this âMAID SAFE thingâ out.
But not only that. I am but one of many people who are similar. We might not truly understand, we might not truly comprehend but it doesnât mean we canât and it certainly doesnât mean we donât want to. Maybe when replying to others consider yourself a polite, charismatic salesman selling the idea to someone who is brand new to all of this because after all, this is a new idea that requires uptake and as the old saying goes "A happy customer tells a friend; an unhappy customer tells the worldâ.
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We gave you information, and you have not given an explanation of what part you do not understand. And now you post about how elite, arrogant we are. Great to have you in the community! /s Jeesh, you;re going deep end in emotional territory, you should lighten up the load.
Letâs review your post!
Been around for a while. Understand SAFE coin and all the features. But thatâs not what I was asking.
Okay⌠Letâs rewind that upâŚ
Why does the SAFE Network require a SAFE coin instead of
using something that is already somewhat of a success story in this
field? In other words, why try to re-invent the wheel and ultimately compete with Bitcoin?
The network cannot use the bitcoin ecosystem, it is a new design. Hence all of the post above.
Now, can you ask smart questions, instead of pondering yourself of why weâre being arrogant which has nothing to your original question or our questions.
Clarify your question so we can reply with clear statement.
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OTOH, this would be a great writing prompt for an article to be in the next issue of the magazine!
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I thought SC was going to have fees paid back to the network farmers?
You make good points but I just think that it is an uphill battle when trying to win the hearts and minds of the general public, all coins are in the same position in my opinion. Most people have heard of Bitcoin even if they donât know what it is apart from minorities like kids and the elderly or those without much media access.
Maybe it is a question of marketing and PR.
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Bitcoin has a certain set of economic incentives which induce people to supply computing power to the Bitcoin network. It does that pretty well, but that is all it is good for. If you build on top of Bitcoin you have created a basic structural vulnerability, because 1. your network is dependent on the Bitcoin network, if anything bad happens to it, or if there are changes in the Bitcoin network, those are beyond your control 2. your network is a burden to the Bitcoin network but does not reinforce the network. If the safenetwork is successful it would be an enormous burden on Bitcoin.
In order for the safe network to be successful it requires economic incentives to store and render up data. It also requires a transaction speed that bitcoin simply cannot deliver.
For these reasons, safecoin is not reinventing the bitcoin wheel, it is a totally different setup, and it needs to be.
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Then you failed to understand what safecoin actually does, and what it offers. It is a completely different approach than bitcoin, blockchain technology. I have provided the post above on an explanation what this coin specifically does, and how it solves the digital currency double spending problem.
It is incompatible to have safenet run within the bitcoin and blockchain technology. However bitcoin can operate in safenet, as a secondary currency. Blockchain copies can be stored in safenet.
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I understand this. But your preaching to the choir.
Think of me as your basic mom and pop business. They have a small business making and selling home made Jam. They sell online as well as from their farm house. Their daughter convinced them to accept Bitcoin 6 months ago. Bitcoin sales have trickled through. Not so little that they want to get rid of it but not enough to make a huge difference. How do you sell them the idea?
I understand completely.
But im talking to you from the perspective of the general public.
The general public is barely just catching on to Bitcoin and effectively it is still not mainstream.
I have my own ideas but want to hear yours.
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The big difference between bitcoin and safecoin is that one is real and the other is vaporware. I havnât seen any piece of code for safecoin nor heard that the team have tested the functionnality of it, for all we know that thing is doable on paper but not in practice. I sure wish they pull it off but i am skeptic, if they do safecoin will be far superior to any other cryptocurrencies.