Safecoin? Forget about it

Got your attention?


Very nice. I very much understand your point. We need to quit focusing so much on the coin itself. However, I dont think the opportunity of a real digital cash (as opposed to bitcoins “gold” type function) should be overlooked either. Bitcoin is really terrible at buying a cup of coffee. A few million people buying cups of coffee every day dont need to be kept on record for ever and ever. Buying a house does. Cars probably should (for title purposes), big stuff. Cups of coffee? No. However, safecoin is ideal for this. Better than any blockchain tech could ever be. I dont think we should ignore that. It doesn’t just have to be “the network resource” coin.

I read this over and I want to make sure it came across the way I meant it. I totally agree with you artice as it relates to the network. We, as people who are and plan to stay involved with the network need to keep focus on the network. Think of the coin as oil, not gas (or diesel for you EU guys). I just dont think we should overlook the outside applications in the process.


It took me almost half a year to fully realize that the network itself is central, not SafeCoin. Coming from Bitcoin does that. Nice article @fergish. At the same time I also agree with @wes.


I cannot thank you enough for this post. People confuse my lack of desire for money with some kind of stupidity, this clears that up in a way I a cannot do ( I am not stupid, I see that value, but the point is I see the value in perspective). So beer owed :slight_smile:


great article. It’s really nice to see the community as a whole reinforce this vision and fact that safecoin is merely one aspect of the SAFE network.


No greater praise possible. :beers:


I don’t disagree. The title is largely for shock value . . . in a way. It’s more to point out the inseparability of safecoin from the whole motion of the network. It’s nothing if the network doesn’t accomplish it’s underlying purposes, that’s all.

That’s also not to say that some people won’t be first attracted by the monetary aspects. That’s great. It’s just that safecoin cannot be thought of properly in the terms of any previous mechanism for exchange of value that I can think of, including bitcoin, et al. Like the network as a whole, the safecoin part of it is a different critter than we’re used to. It’d be a mistake to not recognize this and get stuck on what we usually think of in the sphere.

Thanks. I’m likely to make an edit to express this aspect a bit better. [EDIT: Nah. On review, I think I said it pretty well.]


I am of the opinion that if SAFEcoin becomes bigger than SAFE, bad consequences could ensue… It oughta derive it’s value out of the growth of the network… It ought to become cheaper when resources are abundant and expensive when resources are scarce… If it becomes about something else - then the network will overcompensate or under-compensate it’s provision…

In other words, I agree with the article… Well done.


I don’t think so, PUT prices and GET rewards will adapt to availability of resources, regardless of the market price of SafeCoin. In fact, the higher the price of SafeCoin is, the more powerful the network becomes in it’s ability to balance supply and demand of resources.

SafeCoin is the first proper “digital cash”, so it’s going to derive value from that whether we want to or not. Trade in commodities external to the network paid in SafeCoin will push the value upwards for sure.


I posted a comment on the blog so I’ll share that here to join the discussion…

So forget about safecoin? No, of course not. Not really.

Phew, you had me worried for a moment John! :wink:

Thanks for another thoughtful piece. It’s a real pleasure to read your take on different aspects of Project SAFE.

Personally I am hoping for, or rather expecting, both:

  • Safecoin as the lubricant that allows the SAFE Network to exchange resources provided by participants (computer power and network bandwidth), for the services they use: secure, anonymous storage and communications
  • Safecoin as a means for massively scalable services that brings much greater inclusiveness and efficiency to new and existing societal functions outside the network (including commerce, education, research, governance, democracy etc.), as well as those closely coupled to the network’s core functionality (such as publishing and creative arts)

I find it hard to restrain myself writing the second point here, it’s really hard to give a sense of how enormous this could be, how many ways this could affect the world! I’d love to hear your take on this [on your blog].


Thanks, Mark. I appreciate your support.

'Twas my intention.

Why restrain yourself? You’re welcome to submit content for publication on the SAFE Crossroads as well. Why should I have all the fun? See the “Correspondents and Content Contributors Welcome” tab on the site.

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How long do you think it’ll be until we see these things implemented and used in SAFE?
Obviously it’s hard to tell but make your best guess.

Thanks John, I’ll certainly bear your offer in mind. I have my own blog and have sketched out some posts but haven’t found the desire to write, too many other tempting things to do atm but let’s see :slight_smile:

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@sfcoin I have nothing to base a guess on so I’m not going to. It’s real easy for people to make stuff up when so many are just wanting someone to give them an a answer to this question, even though the answer is worthless. People would rather believe a worthless prediction than sit with the reality of not knowing, don’t you think?

There’s a whole industry of market analysts that make their living off this psychological characteristic, most with no more basis than a weekly horoscope.

Much harder, and less ego building to stay quiet, so I haven’t always :slight_smile: but I’m learning.

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Stop it… :now… :smile: