To be fair, they do have an established live network, so its not a fair comparison really. MAID is all about the potential.
Live Safe Network, and SNT is a different thing though, and we have some powerful features for a challenger. They have a few years head start of course, but there in lies the opportunity!
Filecoin seems to be some IPFS with blockchain slammed on top of it. It wonât matter if they existed for more years, Safe network is a different beast and will make filecoin look like a joke. As you know Filecoin has lotâs of information how to do mining but almost none about how to use the network, seems it is made for mining and not to be used. Safe network which also features a currency which can be used with the network has 10x-50x more potential than Filecoin from the start. People invest in potential, buy the potential sell the news.
But it is very obvious as you say that they have a live network right now and Safe network donât but when Safe is live it should blow Filecoin out of the water from the start. I hope some targeted marketing will be focused on how Safe is superior in every way compared to filecoin.
Filecoin may be the closest proxy for the data side of things.
Might XMR also be an apt comparison on the token front, as itâs in some ways analogous to SNT, which will be a low-fee token with privacy preserving properties?
I actually donât think the XMR comparison helps us much TBH. Because Iâve no idea how youâd usefully combine the performance of the two tokens (FIL+XMR) in any usable informative way. Itâd be just too complex to bother with.
Some feature crossovers on both projects, but the main thing to focus on is the underlying commodity and utility of the network that makes the whole thing function: data storage.
Thanks for all comments on filecoin. I was just distinctly unimpressed when I went to their website - you have to give all your details. Then saw valuation. Was shocked.
Would not be bad if besides Safe Network being compared to other networks, that SNT also would be compared to other blockchain currencies, speed, utility, ease of use, decentralization and similar.
So they would not need to be compared together but along side of networks and currencies.
Ok, then I understand. For me when thinking about future price and such the focus is not on competition networks because donât now any good competitor.
I tend to look at the market cap ranking and try picture where SNT/Maid would fit in and what projects to beat.
If SNT is around top 30 at launch or above that would be good, thinking that the focus should be top 10 - top 5 within a year. I may be biased but what other projects would beat Safe and have a similar future potential, both a new internet network and a Bitcoin killer?
To predict valuation seems very difficult, read in a finance course that it was not uncommon for large investors to bring in theoretical physisists to valuate companies stock prices and similar.
Sometimes it is important to also remember who example all competitors are. As example a train travel company does not only compete with other train travel companies, flight or buss companies but also other lifestyle experiences companies which could be outside the travel business.
For Safe Network that could mean that not only other blockchain/crypto networks or currencies should Safe be compared with but also outside of that example the current internet value, Tor, dropbox, cloud, paypal, Visa and so on.
So Safe could be a competitor and compared to all above and more if that makes sense, that could help understand posibilities, challenges, threats, valuation and so on.
This is what is teached in example Principles of marketing by the marketing grand master Philip Kotler.
If anyone want to read further I also tried the following lines in ChatGPT:
Explain the competitor analysis theory in marketing by Philip kotler
What is important to know when deciding which are your competitors when it comes to marketing and the theories by philip kotler
How to evaluate a companyâs potential and future value?
How to evaluate a innovative companyâs future potential and value?
Donât forget Storj as a analog. Itâs super easy to setup as a provider and user. The bad thing as a provider is that you have to wait months to get any rewards from it at all. If Safe can crack that and people can earn quickly it will win.
Interesting to see if the great success of the latest testnet, HeapNet2 [Testnet 12/10/23] affects the price of MAID some way.
I attributed the earlier climb of the price to the increasing advancements in testnets and the followed decline to the period of not so evident progress.
The latest testnet is so stable, fast and⌠everything, a leap from anything before!