The good thing about this community, at least, is that we have a lot of knowledgeable people. We could reasonably build a fiat currency / SAFE exchange.
I don’t have an opinion on the ERC20/Omni discussion, but the talent exists here to easily solve this problem.
They will farm it instead.
I personally think it wouldn’t be too hard to make the transition and the upside is definitely worth the time needed to do it.
Like what has been said above: decentralised exchanges are the natural evolution of exchanges, and until Safenet is live a lot of them traded tokens will be Erc20 ones just due to the ease of use and protocols already working like ZRX (0xproject)
Also people buying coins are just so much more happier that they can send them to their trezor or ledger. I wish omni would sort their game out, but it looks like ethereum / Erc20 / MEW have won the token market for now.
If we can make the move soon and get all exchanges on board that currently trade maid we could have everyone that has maid on exchanges being able to withdraw Erc20 tokens, and all those that have them on paper wallets a method in which they sign up, add an ethereum address they own and send the original maidsafe tokens to a bitcoin address. The time limit to do the exchange can be right up until Safecoin is launched and when everyone would have to do a swap anyway.
If we were a few months away from launch then it wouldn’t be worth the effort, but it looks like we are probably at least a year from full launch, so the little effort needed to do this would be a distant memory in 6 months time and it will hopefully give us much more liquidity which also means a better price which can surely only help the project?
I didnt’t see any official statement from maidsafe on this topic(erc transition). I wonder why. If there is any, could anyone lmk please?
As far as I am aware there hasn’t been an official statement. Just a discussion on this forum.
I’d say that they will be watching the discussions and be considering it internally. Once they make a response then everyone would use their reply. So if and when they make a reply they would in my opinion want it to be a considered reply to this important topic.
We don’t know how small the units will be, nor how divisible. We know that farming needs to be possible on a small scale to decentralised the network though.
The network will be free to browse and if you just want to send messages, do ecommerce, etc, the amount of safecoin needed will be tiny. I suspect an invite system where you ask your friendly to join with a free £1 of credit would last years for many.
These are 2 different problems.
Getting enough safecoin for basic use isn’t a problem. Whether 10p or £2, it isn’t a lot of money and could easily be gifted. They could do a little farming on the side when they are online too (basic routing services, etc) to top this up.
For professional farming outfits, there is always over the counter sales. An ISP could sell safecoin or package them as part of their monthly service, to cut out the middleman (exchanges). Businesses could do something similar and operate a pool of farming servers to feed their staff’s demand for safecoin.
I am not saying that this would replace all need for exchanges, but you presented a fairly dystopian scenario. In all likelihood, there will be exchanges (and plenty of them) and people will be creative to save exchange fees too.
Poloniex has been bought by Circle. Not sure if relevant but I thought I’d put it out there.
Isn’t it thinking too much ahead of the current problem?
It’s not good to depend too much on 1 party (exchange) of course.
But when reading the following from the article, the vision seems to me to be positive for MaidSafeCoin:
…we also look forward to scaling Poloniex up and out through market expansion and localization…
and
We envision a robust multi-sided distributed marketplace that can host tokens which represent everything of value: physical goods, fundraising and equity, real estate, creative productions such as works of art, music and literature, service leases and time-based rentals, credit, futures, and more.
Also Circle are based in Ireland which might ease some of the SEC pressure, at least temporarily.
Ah, I may have spoken too soon:
Circle is headquartered in Boston, Massachusetts.
I wouldn’t celebrate so quickly. They have an office in Ireland, but they are headquartered in Boston, MA. Their Wikipedia page also confirms this.
To further complicate matters, Circle and Circle Internet Financial are US entities, but Circle Internet Financial Trading is Irish. Which laws apply to what? You can find the following buried in their privacy policy:
Circle will share your information with Circle Internet Financial, Inc. (a U.S. entity), Circle Internet Financial Trading Company Limited (an Irish entity) and other Circle affiliated entities as necessary…
In addition, Circle’s biggest investors include Goldman Sachs as well as a guy from Facebook.
Well, the discussion moved to supporting native safecoin wallets at exchanges, so it seems reasonable to place that situation in context.
Fwiw, I think exchanges will support safecoin when it is launched. Judging by safe wallet and how easy it is to move tokens about, the client should be simple.
From their website, it looks like they are based in London?
Circle UK Trading Limited
White Collar Factory, 1 Old Street Yard,
London, EC1Y 8AF, United Kingdom
UK Companies House Registration Number: 09543077
UK ICO Registration: ZA176325
UK FCA E-Money Issuer License: Register No. 900480
“Secondly, we also look forward to scaling Poloniex up and out through market expansion and localization, increasing token listings where possible and appropriate, and exploring the fiat USD, EUR, and GBP connectivity that Circle already brings to its compliant Pay, Trade, and Invest products. More on these efforts to come.”
Direct GBP to maidsafecoin would be very handy! 
I have a proposal.
I bet if we move to Ethereum 20% of the coins will be lost in translation. ( lost keys, people unaware, dead people…)
This 20% we leave it for farming.
We launch safecoin with 80% of 450m coins.
We remove the 4.5bn definitively.
We take the move to ethereum as a massive opportunity for full rebrand
…? what do people alway do with this number …? (and i don’t think it really would be a problem even if it was a real argument … just look at ripple …)
Not if coin is divisable.
Regarding your question about market cap, it’s obvious maidsafe has reserves in Maid and pays the salaries with it. Lower maid price means lower resources