On creating SAFE alt-coins

Seems like a really clever idea.

Maybe this has already been mentioned, but how will the inflation/difficulty rate change over time (for a fixed difficulty formula)? Is it a linear inflation since the difficulty is the ID numbers of the coins themselves?

Itā€™s up to the coin designer. Decorumā€™s coin mining difficulty will double for every X amount of coins, to off-set the exponential growth in computing power over time.

And if the doubling (hypothetically) of the difficulty precisely matches the increase of computing power over time, then the inflation will be linear (flat) I guess.

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Yes, but I imagine that would only happen if the price of the coin is stable throughout that time. If the coin goes up in value, then mining profit margins increase so thereā€™ll be a bit more inflation. If the coin goes down in value, mining profit margins decrease and thereā€™ll be less or even no inflation at all.

Also, the docurum coin is consumed when itā€™s used as an endorsement, so that contracts the supply. I envision that the coin will tend towards a price point where the contraction of the supply due to consumption roughly matches the expansion due to mining. Then thereā€™s no netto expansion of the supply, until the coin price leaves itā€™s equilibrium and goes up significantly.

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Have not read through all this thread yet but could we make POW help the network somehow rather than just making it mining like Bitcoin? Again if this has been asked or talked about sorry.

Crypto Crowd Funding is becoming more popular these days. But each project has to create and ā€œmanuallyā€ distribute their tokens. I wish we had a way to ā€œautomateā€ the process and make it less expensive. Right now we are using the Omni Protocol to create altcoinsā€¦ and then list them on Poloniex or Bittrex.


1. Token Creation
I dislike Omniā€™s SPT (Smart Property Token) creation & double transaction fees. But itā€™s one of the few tools we have to create and trade our own coin. :frowning:

We need an APP to create SD tokens. PUTS already cover the cost to create SD tokens. And the best part isā€¦ no more double transaction fees!

I would happily spend Safecoin to make my own crowd fund tokens. If you guys are listening, Iā€™m telling you how to make Safecoin more valuable.

2. Exchange Trading/Distribution
I dislike exchange fees. But its one of the few tools we have to trade crypto. There is also the issue of getting them listed. Once again, we must give up control to a 3rd party, and when that exchange goes down, gets hacked, or simply delays our funding, we are SOL.

We can list SD tokens on SAFEX.

Sending altcoins to an exchange address usually results in lost coins. No matter how many times we tell people not to do it, it keeps happening. I think SAFEX has an opportunity to change the process.


The more I think about the way SAFE decentralization works, the more I realized we are the next generation economy. We will have bumps along the way. But Iā€™m very excited to go on this journey with all of you.

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Havenā€™t read anything in this thread really, but I would just like to chime in and say that there needs to be some straight forward easy way to create tokens on safenet. Maybe someone here can make some app or something called ā€œSafeTokensā€ ( I can finance it, maybe others want to as well) Everyone can use that to somehow create assets similarly to how Omni does it (just better)

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Such an app will be very easy to make, since SAFE support it natively. Wouldnā€™t take longer than an hour, so no financing necessary.

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Regarding token creation, something like the Colu Dashboard but on Safe would be fantastic.

Colu have taken the fees & hassle away from making Bitcoin based tokens, but if they go bust, they wonā€™t be able to keep paying fees. Thereā€™s also no easy way to add Colu or Coinprism assets to an exchange, and on Colu itā€™s not simple to pay asset holders.

A Safe based system with great ease of use, no transaction fees, the ability to add to Safex, and instant transaction times would be awesome.

Another feature itā€™d be great to have is the ability to send payments to the current asset holder. With this, you could issue tradable assets (bonds, loan segments, shares etc) that can receive payments for interest or dividends to whoever the current owner is.

Is it likely that this kind of functionality is going to be possible with Structured Data on Safe, or will we need to wait for compute and other features?

Edit: Seneca says itā€™ll be easy. Glad to hear it (and hope payments to asset holders would also be easy) :smiley:

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Lol okay, well thatā€™s great to know :slight_smile:

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Yes, I really want this too and I think it is possibleā€¦ but may need to be done using SAFE consensus groups to avoid fraud (bad accounting practices).


Side Noteā€¦

Companies usually have an auditor verify their books for public trust. This is one thing the blockchain does really well.

Maybe a trusted party can verify payout (dividends, interest, etc) calculations in a similar way. If so, we can use that until SAFE consensus calculations are implemented.

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My next pull requests on GitHub - safex/safex: Marketplace interface for the Safe Exchange Client are all about these tokens

Having now realized we can not do more than 20 addresses multisig with Bitcoin, it is soooo limited no wonder the whole world doesnt use crypto currency yet.

SAFE changes all of this for us all.

Edit: totally not POW tokens, these are to be asset tokens.

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With so much being built out on bitcoin despite the block times and the structural limits like this, it surprises me that such a pioneering group seems to be in the ā€œBecause that is the way we have always done itā€¦ā€ mentality already.

Donā€™t get me wrong, there is a lot of innovation and progress being made, but bitcoin itself started as a proof of concept and I think in the end, there is more than enough room for projects like SAFE to show them what can REALLY be done with crypto once the gloves come offā€¦

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Maybe Iā€™m misunderstanding here.

If you have a preset limit, wouldnā€™t it make more sense to ā€œpre-mineā€ all of your coins, and then assign them to a wallet controlled by a smart contract which doles out the coins to wallets when those wallets meet some digitally verifiable condition? Like say, posting

That just seems simpler than this kind of mining based solution.

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@kirkion for example, n99 generates new SEEDS when someone uploads their song, and also when a track gets SEEDED to a certain threshold more seeds are made. Content generated crypto coins.

But definitely can not underestimate the abilities detailed where POW mining can generate coins. There is an excellent dynamic of possibilities. At this point anything can work, it is speculation.

Even if the quantities inflate the people will adjust their allocations etcā€¦

Same how if there is much inflation, in a country; people charge even more. Or likewise if there is much scarcity, people will reduce their expectations right?

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Oh so this is a way for the safenetwork to do everything the blockchain does, but cheaper and better?

would this allow for counting time through the use of blocks?

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No because it is just POW not Block creationā€¦

Bitcoin letā€™s miners conduct POW then if they have a valid POW nonce, they form a block, give themselves coins as part of the ā€˜Coinbaseā€™ transaction, then include all transactions they suggested they validated into the block and then broadcast.

So the difficulty there approximates 10 min. From the description, here there is a difficulty and time element, but anyone can begin mining whenever they want, and any range of coins. So it wonā€™t be possible to know really, the frequency of mining occurrence. At least in my estimation it wonā€™t be consistent.

But does that mean the bitcoin style POW canā€™t be done for SAFE networkā€¦ thatā€™s another excercise

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n99 exists as a concept at this stage?

@chrisfostertv It is one thing to host your songs or other art work and be able to reliably sell them for safecoin or other tokens.

However, somehow arts need some way to be curated, so the n99 application serves to give people an interactive way to engage these arts.

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Well Iā€™m interested as a musician, but wondering where is the n99 code repository that will lead to proof of concept/ crowdsale ? I can only see a readme so far.

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