I don’t know anymore when I was a kid I met that guy peter schiff and he was not impressive; and it seems like he never talks about anything else. So, idk;
I like processors, problem solving, activity, UDP Keep Alive Packets,@Benefactors nonactivity when the coast is clear; etc,
SafeCoin is network bookkeeping; CPUs and Motherboards and RAM each have gold in it. I think if peter schiff figured that one out I’d change my stance on his opinions.
Not to mention SafeCoin is just only a slice of this project.
What’s your problem mate? Can’t you recognize patterns? It seems you just don’t like me and so you are are trying to vent that. What are you a spelling Nazi, grow up you Self-righteous know-it all.
If you disagree with what I say, that is fine, but to belittle me, I am not ok with that.
Money is a way for society to allocate resources, bookkeeping is a term I used to describe this. bookkeeping as in who is entitled to how much resources.
Yes I agree, government collects taxes and allocates it to where the lobbyists would like it to go and is accounted for with double entry accounting.
Now we have Bitcoin, which utilizes 3D/Triple Entry accounting, which can be utilized to track and allocate resources perfectly. So in effect a 3D public ledger is perfect for keeping all levels of government accountable.
So if we do go digital with our money, it will then rightly be regarded as purely book entries I would think.
We’ve been well weaned off of regarding money as a store of value, fungible divisible etc …but I do like silver
I don’t have anything against you, my reply was based on that individual comment. Let’s see:
You called others ridiculous, and when someone points a mistake in your spelling, you call them a spelling Nazi. How did I belittle you by pointing out a mistake, and you played “fair” by calling others ridiculous (the latter seems worse and it’s based in fact)?
You went completely off-topic. I asked you why are you doing this, you didn’t respond.
You made a factual mistake with regard to money. Today there are three commonly recognized functions of money:
The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value
Source: Money - Wikipedia
To say something on this topic: it seems this discussion will be idle until we get closer to GA and can observe how the system behaves and what provides incentives to its participants.
Gold is related to the topic(albeit slightly indirect), as safecoin and gold are alternatives to the current fiat system. Gold may be an indicator for the potential value of cryptocurrencies. And FYI many many topics on maidsafe have been way offtopic compared to what i have posted and I am ok with this as long as its productive conversation and somewhat related. If you want to continue this, then make a new topic as this is unrelated(meta).
It could be money moving out of Bitcoin which has almost halved in price the last couple of months ($650 to $370), maybe just one guy pumping though, then will drop again or even that we’re nearing testnet 2, doubt it though. Who knows?
Testnet3 is supposed to introduce Safecoin. So how will you know how many Safecoins to buy if you don’t speculate?
The market has to price the Safecoin and currently no one has even attempted to determine the worth of 1 Safecoin. So if you’re going to farm or buy Safecoins you must know this in order to know how much to invest in hardware or in SAFE Network.
In the old roadmap it says testnet3 will introduce testsafecoin and not safecoin (safecoin in BETA). I’m not entirely sure anymore how testnet3 and beta will merge or be separated and when (test)safecoin will be implemented now.
It would have to be a lot more than 10-20 cents because the cost of bandwidth, data, maintenance, etc, combined with the decentralized apps which will run on Safecoin, who knows?
I cannot see how it would be profitable for farmers under a certain level unless farming is centralized from the start. Farmers have to pay for electricity, bandwidth, computation, and they have to be compensated for their time setting it up. Also because of bandwidth it wont be a situation where all the farmers can be in one part of the world so they’ll have to be geographically diverse. That geographic diversity would prevent the downward pressure you normally see from globalization due to the cheap labor in other parts of the world.
So the minimum price would probably be at or around the price of actually being a farmer. What is the minimum price? There are only 450 million Safecoins? For what SAFE Network is 450 million dollars is nothing.
Bitcoin is 3 billion dollars and it’s just a currency. Safecoins could go for more than a dollar quite easily if it lives up to the hype. Also I don’t know how on earth it wouldn’t unless farmers somehow have free Internet, free electricity, free storage, etc. We are talking about a new industry which can form where farmers become ISPs and to have that happen would mean billions of dollars would have to shift.
If ISPs that already exist become farmers then they’d still have to pay for it. If a Safecoin is 20 cents then what happens when all 450 million Safecoin are distributed? Eventually it becomes scarce, extremely scarce.
You don’t have to set up anything, just download it and let it farm on the laptop/pc you’re using right now. So no setup costs AND you’ll be rewarded for resources you don’t use anyway.
This roadmap is outdated, hope and believe there will be a new one anytime soon.
How will Safcoins pay your electric bill? You do realize you’re a server, you don’t want it to ever go down, so you cannot lose electricity. How will Safecoins pay your Internet bill? Unless you’re the phone or cable company you’ll have to pay the phone or cable company. If you’re expecting everyone will only donate spare storage, spare electricity, spare computation, that is a critical flaw because not everyone has an equal ability to do that nor will it be geographically spread. In Silicon Valley you’d probably be right because a lot of corporations could get away with farming at a loss but not for individual users.
In order for farming to scale up the farmers need to have the fastest possible broadband. Currently in the United States broadband is pretty slow, and not nearly fast enough to do SAFE Network in a distributed manner. It means if demand for content on SAFE Network is coming from the USA then you’ll immediately bump into the latency and bandwidth caps.
Bandwidth for non-business purposes are routinely capped in the United States. This means to get over the cap the farmers will have to pay extra, become business users, and will require much better connections if the mesh network is to form.
How much in Safecoin will it take you to afford a fast Internet connection? If you’re talking about millions of people trying to farm from their smart phones that isn’t going to work right now with the current infrastructure. It will only work if Safecoins have enough value that people can buy whatever they need in whatever geo-location they are to make it work.
The minimum price of a Safecoin would have to include the typical costs which are Internet access, electricity, and maintenance. Maintenance isn’t completely automated, the computer, laptop or whatever they use has to be maintained and administered. How much administration I’m not sure yet because SAFE Network is in development but I don’t assume it’s something grandma will be doing.
The only way I could see Safecoin being really cheap is if you have a sort of uniformity of ubiquitous fast computation, fast Internet access, and storage.
Storage is abundant, Internet access is not. Internet access is the bottleneck which will affect the Safecoin price.
