Does anyone have any estimation of how many safecoins will people earn from farming based on drive space/size and availability?
I am considering buying some maidsafecoins but i am trying to figure out why would i pay for some coins now when i can make some for free when network is up and running…
If i buy 10 000 coins now it will cost me approx $220 so how long roughly will it take to make 10 000 safecoins after launch and what would be cost associated with farming 10 000 coins?
This is an unknown right now, but as we work through to Dev Bundle, as defined on the following roadmap, it will be possible to start farming test safecoin. Another thing that we will establish at this time is what is the best and most efficient hardware set up to farm with. Many are looking at multiple, energy efficient, single board computers, such as Odroid’s and you will find a few threads discussing this.
I bought around 10 000 coins and I think the best time is to buy is right now. As a investment best case senerio it will go up 10 times in early stages of launch of the network. worst case if maidsafe does not hit the mark with people I have 10k-50k of storage space. I believe a lot people will be disappointed in farming profits and believe we will not see people putting on enormous hard drives on the network like burst coin the nxt clone did.
I read on this forum that safecoins will be released in correlation to network growth which is a good thing to allow fair distribution of the coins.
But would you use actual demand for safecoins to calculate distribution pace of the coins? If coins are injected into the network regardless of demand then the price today is highly over valued IMO.
What do you all investors in maidsafecoin think?
Any reason to believe people will be disappointing in farming profits?
Why do you think it is the best time to buy?
I can’t make my mind up if i should buy now or not because (as nick said) there is no information on coins distribution pace yet, if coins are released at a fast pace after launch without real demand for them then there will be opportunities to buy at a much lower price.
Yes, demand for the network is what drives pace of distribution. The following blog post narrows in on this point, and if you want more detail you could read the entire safecoin paper. In essence, the network automatically increases farming rewards as space is required (farming difficulty reduces), or increases the farming difficulty (reduced rewards) as space becomes abundant. I hope this helps!
A maidsafe farmer needs to provide equipment and bandwidth, will farming pay for for bandwidth? People are saying on the forum a safe coin should be worth $1 each. But I can not see this happening but saying this bitcoin surprised me when it was at $60 dollars. Most people on the network will say forget about safe coin and think about the network. crypto-hype on launch will increase the price and I say we will see buying wars and panic buying.
Yes, farming reward mechanism makes sense and thanks for the links.
I am curious to know though if you have any plan to use the demand for safecoins factor as well as the demand for the network factor?
Size of the network will grow exponentially after launch which will increase amount of coins in circulation, meanwhile people will be able to use the network without needing to buy coins so if there is no real use case for safecoin at launch the price will automatically go down ( even if people aren’t selling) , this would be a better opportunity to buy wouldn’t it?
But in many cases users have the equipment, have unused disk space, have paid the internet connection and have the computer on most of the day. For these people to be a farmer and earn a few safecoin is a win-win situation.
However, if we look globally, the price of the Safecoin will be the Safe Network Valuation / Current numbers of Safecoin.
The actual market cap is only a few million (about $8.5M). If compared with the potentiality of the SAFE Network is, in my opinion, a ridiculous price.
I think these are the same thing. People will be able to use the network without buying coins, but they will only be able to consume publicly shared data. To store data, or use apps on the network safecoins are required. So people who have earned them through farming will use them to access services, hold them, or sell them to those who need to buy safecoins to access the network as they are only accessing the network via a mobile device.
So, I would disagree that there is no use case for safecoin on launch, there will be more utility than ever before and you can expect utility to drive the price. As for the best opportunity to buy, hindsight will tell us .
I think maidsafe long term will bring a new customer base of consumption from the bit-torrent community as word spreads that maidsafe can provide safe downloading without risk of being sued or block from websites like pirate bay. the network effect will be the content providers will be forced by hand to provide legal content at lower costs. This will effect the price of maidsafe and bring a micro economic as currency. I think the people whom have not adopted to bitcoin will use maidsafe because of the network not because of it value of safe coin but the value of what content is on the network. As a farmer and a investor really needs to support the network with content to increase the adoption and the price. by giving one receive back two fold the law of karma. like facebook the application alone did not make facebook but the people on it providing idea’s and content.
This is a good example of paralysis by analysis. My thinking boils this down to the heart of the matter. You’re looking to increase any amount invested. Sure providing network storage to help the SAFE Network grow, and contribute to an amazing new platform that upholds our privacy, but at the end of the day, you’d like to see a return on your investment too, right?
Thinking like this, it’s a no brainer to NOT buy safecoins now. Mathematically, you would capitalize on the price per maidsafecoin after launch (ex: buy 10,000 for $220 now, or buy 2,000 for $1,000 later), whereas if you waited, you would have let’s [absolutely hypothetically] say you get 1,000 safecoins for farming in the first two months. Waiting to farm, you’d generate less safecoins over time when the value is many times higher. Truly successful investors adopt before the masses even realize its existence, and this is especially true in the crypto-currency space.
Having said all this, you need to act quickly. Get your exchange account validated, transfer moola if you haven’t already, and buy maidsafecoins on Poloniex as soon as you can, because “the ants are coming”. The day they officially switch to testnet 3, I’d say we’re looking at a bare minimum 10 fold increase in value compared to today’s price [2 - 3 US cents]. In practice, the value will step up more and more, and every week or so, you’ll think “Darn, I should have bought some earlier.” From a purely investing standpoint, this industry gives a whole new meaning to “penny stocks”.
Nip that paralysis by analysis in the bud @leicka and carpe diem.
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