And the beauty of dynamic pricing in safe network for cost of storage will help a lot. If the coin $$$ price rises then more farmers are encouraged to farm and this drive the safecoin cost of storage down. A real balancing act and human nature will add more storage to get more coin which causes the PUT cost to drop.
In effect the farmers will add storage till the cost of supplying storage is compensated satisfactorily by farming rewards. The PUT cost then reflects this by dropping so that people end up paying the $$$ value that the farmers are comfortable with. There is obvious delays etc since the farmers are paid by the network and not by the uploaders. Conversely the uploaders are not paying the farmers but are paying the network. And the only connection is that the network pays/charges according to the amount of (spare) storage supplied
Its about $5.00 per GB per month on commercial servers isnât itâŚ
Considering safestorage is forever⌠the price action for storing files on a live network is going to be interesting.
Per TB, not per GB. But yes. If SAFE could come in at say, double the monthly price for storage âforeverâ, that would certainly be a market changer.
Bitcoin (BTC) being the King of Crypto, generally dictates the direction the rest of the market will take. When BTC is fumbling in the market like in the current market times, every other coin and token also fumbles. This is because BTC dominates the total market capitalization by occupying 38.4% of the current total market cap of $326.6 Billion at the moment of writing this.
A brief check on the history of BTC prices yields the King of Crypto had peaked on December 17th at a value of around $20,000. Coincidentally, this was just hours before the BTC futures started being offered by the CME group amidst lots of fanfare and delight of crypto-traders who saw this as a sign of crypto joining the mainstream of investing. However, a few traders were wary of Wallstreet getting into the business and warned that the âbig shotsâ in the big investment firms, will probably find a way to short BTC and any other crypto out there.
Coincidentally, the value of BTC and the entire market capitalization started to depreciate after the CME Bitcoin futures started being offered. Not forgetting that the CME group was also joined by the CBOE in launching the futures on the same week.
It is no secret that plenty of traders have speculated manipulation. Besides, there is no regulation to protect against it in the crypto-verse in the first place. Therefore, it is a free for all or whoever has the might to orchestrate a market coup. These type of manipulations can only be done by institutional investors, large-scale traders and any other large entity that can do this.
If it is possible for the same institutional investors to manipulate Wallstreet with all its regulations, then the crypto-market would be stealing candy from a child for them. Such moves of manipulation have been popularized by Hollywood movies such as Wallstreet (1 & 2), The Big Short and Margin Call. One thing is usually the driving force of such manipulation, pure profits. And as the Wallstreet character known as Gordon Gekko once said, âMoney never sleeps.â The same fictional character was also quoted as saying that greed is good [in Wallstreet].
Therefore, and with the above theory, it is highly likely that BTC has been the subject of manipulation all along. What we can then do are three things: cash out with our tails between our legs, play along by learning to trade like a professional or hope that regulation will step in to save the little guys who simply want to HODL.
Yep, back in December, I was very much of this school of thought as well:
This article very much speaks to what youâre talking about. While quite conspiratorial (which does not mean I think the article is wrong), itâs most certainly worth the read.
âWhen money flows into Gold, Silver and Bitcoin it shows that powers are bankrupt and their âFiatâ money is worthless. If these assets rise, all the money supply will dry up and move into these assets. World will know the King has no cloths.â
A few thoughts:
Never before have I been quite so happy that access to MAID is somewhat limited and that Maidsafe has kept a relatively low profile. Let the wolves seek other prey until Safecoin has grown to withstand their attacks.
May there never be Safecoin futures. You want to bet on the price? Put your money where your mouth is and hold the asset. None of this settled in cash nonsense.
Bitcoin is tainted fruit. I donât know that there is an adequate anti-venom b/c the sheer level of distributed coordinated action it would take to combat the current price suppression and market manipulation is untenable. Youâd need dueling cartels.
The fact that NYSE, Nasdaq, etc. havenât fully set up theyâre crypto operations gives me some hope that weâll see yet another bull run for BTC (which might carry alts with it) so that these late to the party institutions can play the same game and make their profits before crashing the market again in order to frustrate the retail investor into oblivion.
How about something more exoticâŚlike Hillary has kuru? Wait for itâŚ
Whoâs ready to wake up from the Matrix already???
Maidsafe is orders of magnitude the middle finger that Bitcoin is. With any help from someone who knows the real value of gold, if there are safecoin futures, there wonât be a central bank by then to place fake-money bets to shake out the weak hands.
Replying to Polpolreneâs post from the Dev Update thread:
Not important post Iâm going to type right now, but itâs funny: traditionally the major announcements that have brought up MAID price are Vaults, âŚand uTP connectivity haha (and the crypto rush bubble of 2017/2018). Not even Davoshi Nakairvine (we know this time itâs definitely a team, and quite a team!) creating âBlockchain-like consensus on monk steroidsâ (PARSEC) does anything. (Well, it did a tiny bit.) Will Safecoin even rise anything? Maybe just release the SAFE-Net with Vaults and uTP, and slap on some of that consensus, and call it a day. J/k, Iâm sure utilization of The One The Only Safecoin will slowly skyrocket the project/price⌠âŚnot quickly skyrocket; integrity! remember integrityâŚ! Just a little bit of jet fuel to power that new idea of an internet, and not an unscientific amount that causes explosions, FUD, and DUD (Dead Upon Dropping).
Until the proof is in the pudding, the price will always be speculative and dependable on pump and dump groups. I wish for a live network soon too, just to use it! But hey ho, itâs taken this long, may as well wait till the tech is proven.
It would take more than 20 mandatory characters, as a Jewish banker like any other, to express how shocked I am to see Vitalik entering this ridiculous debate
Poloniex representatives officially announced that if you donât want to verify your account and you wish to close it, you have to consent to forfeit your funds.
In my musings, I imagine the long term equilibrium will be (something less than the wholesale price of a TB) times the network_duplication_factor (8 at present?) + the discounted cost of running a device (low). Quickly browsing newegg, I see about $<30/TB as possible ⌠times 8 + letâs say 0 = <240/TB for permanent storage as an upper bound, always decreasing with technology advance. This cost allows many of my use cases (starting from 250gb of home photos and movies, for which I would pay many multiples of that, downwards). The interesting thing will be to see where that lands on the business scaleâŚ
I actually think available storage will far outpace demand for the foreseeable future. Especially when duplicate data is given a pointer to the existing instance, instead of actually uploading duplicate data (at least thatâs my understanding).
Iâd speculate most people have well under 100GB of data they would want permanently stored. Those with a lot more are likely pirating/backing up/copying things like Blu-Rays, which sooner or later there will be a central landing page to access those things, much like BitTorrent has with places like Pirate Bay. Most people will stop uploading and simply consume as reputations are built on good rippers. These rippers earn coin by having their âproductâ consumed.
All that leads to a likely overabundance of available resources, as people dump all their extra HD space into supplying for the network. Not to mention those of us who will be looking to farm on a little bit bigger scale, and even some on probably a very large scale.
Agreed. A huge portion of space is used up nowadays to save videos and games. Due to IP its hard to watch movie online freely. As SAFE Network would be anonymous so I am guessing all these duplicate copies would cease to exist. And if it can be watched directly it would be far better.
One week after great news, price is flat, volume has dropped by over 40% all of this while itâs easily the best project around. Tough crowd out there.
Maybe just release the SAFE-Net with Vaults and uTP, and slap on some of that consensus, and call it a day. J/k, Iâm sure utilization of The One The Only Safecoin will slowly skyrocket the project/price⌠âŚnot quickly skyrocket; integrity! remember integrityâŚ! Just a little bit of jet fuel to power that new idea of an internet, and not an unscientific amount that causes explosions, FUD, and DUD (Dead Upon Dropping).
