that is true. especially with decentralized and automated exchanges like Ripple and Stellar on the playing-field.
Not to mention even more decentralized ones like SafeX, StashCrypto.com and others coming on line soon.
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I think some of @patrik1939’s concerns are lost in translation. I am also confused as to how a single unit currency is going to work even in the early days.
Is this really true? I’ve heard different people say this on the forums but haven’t heard anyone from MaidSafe or a Mod confirm this
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its a darn hard question to get a yes or no answer but it is addressed in the Safecoin whitepaper under an area involving the capability of safecoin use for micro payments:
http://maidsafe.net/Whitepapers/pdf/Safecoin.pdf
From Section 8 of the link above:
In addition to incentivising user behaviour, safecoin
may also provide an alternative revenue
source for the Internet, in the shape of micro
payments. It is possible to implement safecoin
without transaction costs (although these could
be added to aid security2) and high divisibility
(coins are valued at $0.05 at the time of writing
(Jan 2015) and have the potential to be divided
up to 4.3 billion times) make them well
suited to very low value transactions. Furthermore,
the SAFE Networks ability to enable an
unlimited number of transactions with confirmations
at network speed equips it well for micro
payments.
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I’m glad to hear this is the case because if you were not able to divide the coins, their upper value would seem to need to be capped or pegged to the price of storage, etc …a safecoin would never be worth say $100 because if the minimum payment you can process is one safecoin, how would you buy something for $0.75?
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Within the SAFE ecosystem, it’s quite easy:
Farmers, App builders and Core Dev pool earn safecoin through the farming process.
Users spend safecoin as needed for as much PUT capacity as the network values it at the time purchased (pay as you go), end of story. Even if the value gets quite high, it will still function on the network.
Now as a currency for other voluntary exchanges, if the value gets up around a dollar, it just means you can’t buy in smaller increments, unless you get change in some other currency. Inconvenient.
But if the network is being successful and attracting more users and resources, it will scale to the ability to add smaller divisions pretty fast.
Yeah, they’ll certainly try to institute a world currency, but individuals will be individuals (especially when empowered with crypto in general and SAFE in particular), and the NWO will fail in the long run.
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The network “divides” the coin when it is spent for storage in to an allocation that allows the user to store data at the then going put_cost.
The network “effectively” combines units of work (retrieving chunks) in one coin issue attempt for a certain number of retrievals. That number is determined by the then farming rate.
When needed the coin will have divisions, maybe eventually up to 18 decimal places
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I disagree. I think as regards global trade and consumers being able to compare prices - people need (even require) a standard for comparison. Nobody can keep track of the value of hundreds if not thousands or millions of currencies … that not to say that people will trade directly with this standard - it seems likely to me that some ‘meta’-wallet will come to be that will automatically convert assets you hold (and that are in your tradeable pile) into a total which is denominated in the global standard.
If SAFEcoin isn’t divisible, then I suspect it will not become this defacto global standard down the track … I for one hope that it will become divisible and that it will become this standard.
But, as you allude to, computers can. [quote=“TylerAbeoJordan, post:31, topic:7781”]
If SAFEcoin isn’t divisible, then I suspect it will not become this defacto global standard down the track … I for one hope that it will become divisible and that it will become this standard.
[/quote]
I’m not sure that it is desirable for it to become such, but I’m okay with that if it does. Divisibility will be introduced as soon as it is appropriate to suit the purposes of the network itself, which will be (a) when it is acceptable computational burden, and (b) when actual market demand requires it.
It is not workable to introduce micro divisions as yet. It will evolve as it grows. It will certainly become a broadly used currency, perhaps even a global standard. But that is actually secondary to how it serves the network and how the network serves the End User. Safecoin as a currency is way secondary to those factors.
Well for you that may be so … not for me though 
Thing is, that’s the only way safecoin has a chance of being the biggest splash.
And that is the way the network works.
What we individually get or see it, does not change what the network does with its coin. 
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The fellowship of the currencies!!
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maybe in the early days a hundred safecoins will be worth a dollar. voilá, there is your divisibility to the cent.
I certainly hope not
well, probably 1:10. I’m not really following coin-prices, to be honest. 
If that happened I would have a major problem. Im talking a bottle of scotch followed by a bullet to the head.