Risk of Safecoin making the SAFE network fragile

Autonomi Network Token (incl (e)MAID)
61

If the total sacrificial chunks count is 0 the price of a chunk will be 1 safecoin. So putting 1TB. of information cost 1.000.000 safecoin and 100TB. 100.000.000 safecoin.

If someone try to attack the network is enough to rent several servers to maintain the data safe and wait the attacker runs out of funds.

62

Okay, but in that case that’s effectively downtime for all legitimate users.
Any business that needs access to unlimited supply of storage at stable price would switch to a commercial provider, otherwise doing business becomes impossible once you need to pay 1 million bucks for 1TB of additional storage. Actually that would happen much earlier - say when the cost becomes 200-300% of S3.

When I claimed that PUTs could become prohibitively expensive once 430 million MAID’s gets converted to Safecoin and the network capacity is still relatively small, I was told that can’t happen. Now you’re using that logic to say it’s exactly what would happen to prevent attack targeting network capacity.

Maybe you’re right, but I remain skeptical.

63

This is all BS thinking. The cost/TB will never exceed the physical cost of purchasing a 1 TB HD ($50 or less at present).

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64

why wouldn’t it? if the safenetwork works the way, it’s supposed to, 1TB SAFE storage could be more valuable than 1TB HDD-space in the electronics-store.

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65

A couple things to consider:

  1. Storage capacity is not purchased by TB, or even MB, actually. It’s purchased by PUTs. Immutable data is stored in chunks that are 1 MB max. Structured data is 100 KB max. Each chunk is a PUT.

  2. Structured data can be modified unlimited times for no extra charge and, I think, deleted completely (at the least, can be deleted down to almost 0 KB). Immutable chunks just stay there, basically forever.

  3. A lot of the PUTs spent won’t be about storing data for the long haul, but making comments on forums, etc., via structured data chunks.

These and probably other factors make it pretty hard to calculate the comparative prices in advance, but I think tend to indicate that PUTs will be pretty cheap, Not necessarily in terms of storing 1 TB of data, but in terms of function.

We’ll have to let the network balance and see where we’re at. But if it’s out of whack, market forces will help balance it. The network should be dandy useful, quite beyond “storage” costs.

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66

You would have money to burn, because you’d be shorting a coin that was losing value due to a denial of service.

1 Like