It reminds me a bit of the many Bitcoin companies who got burned because they designed their business models around the idea of cheap/free bitcoin transactions (which was a reality at one moment). When the future proved that these cheap transactions are not going to continue there was a revolt. But from the Bitcoin Devs side the warnings were there all along that these kinds of business models are not going to be sustainable. Like how Mastercoin (now Omni protocol) got a lot of heat for bloating the blockchain.
Similar error of judgement is happening when trying to measure building Safenetwork with Blockchain projects. As it was pointed out before (in ep.40 of crossroads I think) - Safenet is being built from the ground up innovating the hard stuff all the way along while Blockchain projects have the foundation already built for them (SatoshiĀ“s Bitcoin) so most of the hard work has already been done. Safenetwork and Blockchain ICOĀ“s just cannot compare on a time scale basis but people out of ignorance (including me at some point) feel that they do compare and expect them to compare and then feel dismayed when the reality starts to show. But the thing is it was actually visible all along whoever really questioned this aspect.
My advice is also that DO NOT wait for Safecoin to launch so that you can sell. Even if Safenet launches then this is just A beginning. This is at least another 5 or more likely 10 years of hard work for the potentials to start unravelling. If that is kept in mind - that this is really a long term 5-10 year investment - then the pressure of waiting starts to ease in the mind.
I didnāt even know there were additional Next 100 pages. Just browsed through some of them and got reminded of NVO/NVST (which I havenāt looked at in many months)ā¦ right when itās at a very-recent low. But hey at least they have a product right? . Canāt wait until they provide Secure Access For Everyone on a global scale with an autonomous new Blockchain-less technology surpassing Bitcoin by hundreds of times.
In other news Iām going to boycott looking in this thread and participating in it and allow myself to read and contribute to the real cost/value of all this wonderment. Letās start with going to the dev forum, which I havenāt been to in awhile!
I think the project already has been developed for 10 years? at least 4 years since ICO, so you are talking about 15-20 years investment, I donāt think itās a good idea to talk about 20 year project in crypto, if itās not ponzi, it smell ponzi.
Ha! Smells ponzi!?! Yeah right, āthey set up a company 10 years ago in anticipation of being able to ICO, something that didnāt exist at the time of incorporation, in order to scam people.ā Do your research before throwing around wild accusations.
I am not saying Maid is ponzi, I am saying selling a crypto project with a 20-year horizon smells ponzi, no more than 5% of the projects will last 2 years in the space, please read the context before the text.
Yes , Kingslanding , you are right , time is money , the more you delay the more you lost customer confidence. We are not greedy , we also hope Maidsafe can change the world and benefit to human , but timing is really important.
The real problem I see with this is that we can expect people to be very quickly buying SAFEcoin off other people on the alpha SAFE network since SAFEcoin is now āliveā.
Now that could be in terms of millions of dollars over the whole 450 million coins. Now if it goes belly up and you āresetā it back, then there could well be a number of very angry people who do not get back their money.
To do the 1:1 exchange you need to have a secure network, or you will get problems - thus my reason for the get real comment. Resetting live SAFEcoin is not good and could cost many people a lot of money.
Nothing to do with a 1:1 exchange to live SAFEcoin on the alpha network. So why answer as if I commented on that.
A secure network would certainly be needed - my question is whether it would be possible to make a secure network that only ever has a very light & simple load much more quickly than a secure network that needed to handle a very heavy and complex load (as the SAFE network will). Would it be quicker? If so, how quickly could it be made?
Adding a basic restore capability / some periodic ledger would let people prove balances even if the network went belly up.
My question / suggestion is very much NOT Safecoin going live - Safecoin will only exist on the SAFE network. If possible, my suggestion would result in a placeholder token like MAID hosted on a new, limited close-group-consensus network rather than the Omni protocol.
I know itās a long shot, but Iād like to know whether a secure close group consensus network that only handles 2-3 data types in very low volumes for token / crytpo currency use could be developed far more quickly than the full on Safe Network. If it could be, it might be worth considering.
On the topic of creating a presently utilitarian use case, I wonder whether the easiest thing might not be to push the whole ācurrency as store of valueā narrative. I mean, at the end of the day, what isnāt a store of value? Itās just that sometimes that value is appreciating, at other times depreciating, and the relative worth differs.
If MAID could a) get more convenient wallet support in a b) more easily transactable format, what stops it from having that form of utility? I guess it would need to have its own ledger, but I think someone around here quipped about forking someone elseās chain and calling that MAID-something or the other. In the future you could say that you can swap your MAID for Safecoin on a 1:1 basis. That way MAID would have utility now and also when the network launches.
These could be pie in the sky thoughts, but it seems at least marginally easier than creating a stand-in network that approximates what the SAFEnetwork is meant to be. Plus, I donāt think it would require core developer attention. There are, after all, so many forked chains out there: BTC & BTH, XMR & Sumokoin, Z-cash & Komodo to name a few. I think the need to find a current usecase for MAID is dependent on just how far this whole āsecuritiesā excuse gets pushed/how far away we are from SAFEnetwork launch. A scenario to be avoided at all costs is if the optics deter third party developers from engaging such that when the network launches that crucial ecosystem of apps is barely nascent.
Iām sure moving MAID to its own blockchain could be done, but I donāt see that it would add more utility than the current set up when it comes to the securities argument. It would play the exact same function as MAID does now, but be more bother.
It would be much easier than creating a reduced functionality close-group-consensus network, but would do far less to demonstrate the viability of the Safe networkās underlying technology.
Iāve been watching that wallet before today, has been super active most days for the past 6 months between both Poloniex and Bittrex. It is weird though he/she would have the upper tier verification given their history to move on-masse to Poloniex if needed so yeah those small amounts, in that particular set-up, it does smellā¦but oh well welcome to crypto
There is a lot of cool stuff being developed on Ethereum that can be ported over to a competing blockchain if Ethereum fails to scale in a timely manner. Likely contenders are EOS, NEO and Cardano, these blockchain behemoths will likely all be around for generations as long as there are devolopers improving the design to meet the market needs. People who throw around the term ponzi and scam are usually late to the party noobs or og maximalists neither of whom has an intimate knowledge of what is going on outside their bubble. IOCās will go on in unregulated markets and will be modified in regulated markets to meet regulatory compliance. In unregulated markets the investors will mature and turn to curated lists of ICOās which will be more efficient and fair than what will happen in highly regulated environments.
. Canāt wait until they provide Secure Access For Everyone on a global scale with an autonomous new Blockchain-less technology surpassing Bitcoin by hundreds of times.
