Feels like they should really be called Other Coins, not Alt Coins, since they’re all working together. each providing a unique function. We now have MaidSafeCoin, SafeExchangeCoin, and ProjectDecorumCoin. Seems like having a platform like the SAFE Network makes all other coins come smoothly along, relying on Safecoin’s Network, like silk.
It’s overwhelming to think about it right now, which is why I started this of course! Difficult to grasp what’s at work. I think one currency might not be more important than the other; but a certain syndrome of people’s perception will always have Safecoin valued more highly, it being “the first” one. There may be technical reasons for higher valuation to be true, even over a long period of time, but I’m no good at those.
Maybe people will look at it all one day, how complex yet smoothly the economy can run, and then try it out in the real world. It would be part of the world initially, but perhaps people may look at it as a successful model to ASAP then roll out (more?) tangible similarities. Maybe what doesn’t work today will simply melt away, that much more quickly.
People will use it to solve their otherwise insoluble problems, or to take a shorter path than hitherto.
It is productive to let ones mind go down as far as one can in the layers of social protocols, and think of what someone somewhere needs or desires, and how SAFE might provide that.
The advantage that safecoin has is that its value is based in the functioning of the SAFE Network as a whole. It is ubiquitously obtainable in exchange for value that regular users can contribute to the network, and is required to use the full functions of the network. That all gives it a position not just based on being first, but foundational.
That said, other-coins will have their own unique value propositions and some may come to be more valuable in other ways.
Aside from SEC and PDC, which each have incredible upsides, imagine:
“Mogul-coin” a token which represents a voting and revenue share in a global real estate consortium.
“Midas-share” as similar token based on gold mining, storage and redemption.
“Force-shield” a cryptographic proof that you have a distributed armed militia vouching for both your personal and physical integrity. In other words, you’ve been vetted as operating with personal integrity and people with guns are there to back you up, whenever and wherever you are in jeopardy.
The list could get very interesting and tremendous value propositions can spring up way beyond many of the desirable features of safecoin. But at the end of the day, safecoin is tied into the heart of the network that enables it all.
People with guns define what virtue is; or rather, there are diverse definitions of virtue and guns determine which ones acquire hegemony.
If you meant integrity as simply doing what one says, then contracts take care of that, actual or implied (if I get in a taxi and tell the driver to drive somewhere, that’s an implied contract).