Yeah, good point. Definitely sounds like branding needs something official sounding, even if the culture just say’s “safe” for both plural and singular. Seams analogous to “pound sterling” vs “quid” or “dollars” vs “bucks”.
Edit: I’m not a fan of “cash” though… Coins are more durable and last longer than cash…
For me, the further away from Bitcoin the better, even if there is residual awareness. Remember that Bitcoin does not always have positive associations to the public - violent ups/downs, linked to crime, speculation, etc.
The status quo on the terms already existing are fine with me. I even like ‘coin’. Irrespective of views on LibraCoin, the use of the word ‘coin’ will help mainstream support/ understanding.
Also, I think the ‘green’ element may be a non-starter. Again, mainstream believe that anything with technology is automatically green (e.g. Tesla), so would require an initial campaign to explain why Bitcoin is so massively resource intense. Don’t get me wrong, I like the green message, but think it would appear well down the list of USPs.
Edit / addition / question: if people are hosting data, I assume the incentive will be for them to keep their Windows XP on, instead of switching it off at night??
Saw this earlier and of course had to start trying to think of good names for a currency. I’ve spent too much of my life trying to think up decent band names not to feel qualified!
Eventually I just ended up back around at Safecoin though. Familiarity maybe breeds contempt, but I think it’s actually pretty good, taking into account all the nuances that need to be conveyed.
I think Libra is very, very good for the position Facebook are in, but I think it would be hard not to confuse people at this stage if SAFE was pushing separate names for a new internet and a new currency. On the plus side Safe (and Coin) are really flexible words so people can add and subtract and bend them about as they wish in the future.
I did find out however that the currency of Armenia is called the Dram, which is clearly a great name for a currency. Unfortunately transactions of large numbers of drams are definitely not safe, so for that reason alone we can’t steal it!
It could very well be a coincidence, but I’ve read that the name Libra is chosen as reaction to Gemini (which means twins), the digital currency exchange of the Winklevoss brothers. Libra and Gemini are 2 of the 3 zodiac air signs and Zuck and the twins have a history: Winklevoss Twins - Facebook was our idea.
what about calling its SafeStash or just stash. I think the name speaks to the use case it has to buy network resources and “stash” your files. It also implies something of value you store away but might trade for something else later IMO. It says at the same time no this is not a bank account its your secret stash so protect your passwords.
For the most part I don’t think there’s too much to be gained from changing the name of the underlying currency (but potentially much to be lost). A move from Safecoin to Safecash conjures up unpleasant memories of the bitcoin vs. bitcoin cash schism. However, I’d be fine with/wouldn’t be surprised if the market abbreviates Safecoin as Safe (which might pick up a plural “Safe’s”).
Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context. The main functions of money are distinguished as: a medium of exchange, a unit of account, a store of value and sometimes, a standard of deferred payment. Any item or verifiable record that fulfils these functions can be considered as money.
I almost regret reviving this thread, but it did convince me that SafeCoin is by far the best monicker for “the Coin”… SafeMoney and SafeCredit would be good names for a wallet and lending app/service though…
I think safecoin connects to bitcoin and I dont like that cause its 100% different, for one is decentralized in a way that a few vaults only get a chunk of the “ledger” of each safe chunk if we can call it that way.
I can stomach SafeCoin, but am not a fan of all these gimmicky substitutes. Say whatever you want about Bitcoin, but I believe the name does connote something physical, which I believe really helps people break the psychological barrier from cash/credit to crypto. In any case, we will have a legitimate currency—backed by the security and value of all the data on the network—with the abbreviation of “SAFE”. There is no doubt in my mind about that. In the same way that we all refer to Bitcoin as BTC or XBT, it will happen. Let’s just make sure it’s palatable.