But according to Thomson Reuters the largest holder of cryptocurrency by country:
“The U.S. has the highest number of cryptocurrency users, the highest number of Bitcoin ATMs and also the highest Bitcoin trading volumes globally.” Oct 25 2017
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Trademark issues aside, the big issue in my mind is that there is already a “safecoin” on coinmarketcap. Sure that’s no porblem for normal traders in crypto, but the “Safe” Network isn’t just for crypto-traders, it’s for grandma to upload her photo’s to preserve them forever. If grandma can’t find and purchase the network coin easily, then we have a problem IMO.
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But since the safenetwork and safecoin are not crypto/blockchain projects but rather storage and new internet and safecoin is digital coins (not crypto === blockchain), the project will apply more evenly across the world.
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theonetherealthetrulysafesafecoin
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Not really. The current crypto crowd will most certainly be the first to adopt the network and, from there, the message will surely spread to their acquaintances, business associates and relatives. Those who have already dipped into associated technology will be very important in the beginning.
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Surely if grandma has to go to binance to buy safecoin we are not going to see that mass adoption anyhow.
Or if she has to use coinmarketcap to find it.
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I can imagine there will be easy ways to obtain it in the future, but coinmarketcap and the apps that use it’s api will still be a source of information for grandma and hence therein lies the rub.
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I should think the invite system will allow you to gift your granny a few coins to get her started too.
I suspect casual users won’t need much SAFECoin, especially as reading will be free.
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Also where there is a need a solution will appear to buy small amounts of safecoin.
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I agree that at first this may be the case … over time though as use-case for the network grows so will demand for the coin. And what happens if/when grandma gets scammed and buys the wrong coin? Bad press, that’s what happens. There are several ways this could go wrong … but why should it? Why are people attached to “safecoin” The current base of support for the safe network is almost nothing - let’s not let our preconceptions get in the way of the best way forward for all future users.
It feels like people are being really defensive - but what are the positive reasons to keep “safecoin”? As opposed to an equally descriptive acronym?
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I would hope that if the user base voted and the maidsafe team agreed, then they’d immediately work to get a trademark. Of course, there are never any guarantees. If someone beats us to the second name (as they’ve already taken Safecoin), then we go for the third most popular and so on.
All we can do is our best.
Perhaps a SAFECoin faucet would be sufficient to allow people to do the basics without having to buy coins? If all you want to do I send your grand child a few messages, having a faucet with a daily limit may do the job - we should be talking pennies here.
Perhaps the faucet could be funded through the standard network fees too. Obviously, it needs to be closed to abuse, but as the effort to abuse isn’t worth the reward, it could be useful.
Edit: To add, the faucet request could be a simple button tap from the browser or some such too. Granny proof!
Maybe, but I was thinking long term where companies would sell coinBalances as a business rather like companies that sell tokens for machines or functions or events (Even just tickets).
These companies could cheat and empty the coinBalances. But then its not a compay that would last long with everyone complaining about them. Rather like would you buy a ticket to the Soccer Game from a backyard vendor or from an established ticket selling company.
Obviously the coinBalance being sold could be used long term with a risk the company could be hacked or an employee harvests some older coinBalances. But like these ticket sales vendors the coinBalances would be generated by the system and the employees cannot gain access as is the case with printing the event tickets.
With millions joining SAFE every month this would be big business. Remember the gold rushes. Often the ones making the money were not the miners but the butcher, baker, hotel, general store, etc. So to these business will not make money from developing SAFE Apps but by providing the way too get safecoin to setup an account.
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And these will be the ones who will recognise the difference better than the other 1/30th of the world population living the blinkered USA.
Point being those already in the crypto world will know the difference. 29/30 of the world population who don’t live in the USA will also be joining and not have that issue.
Also once the network takes off a lot of the people in the USA not educated in crypto will also be the luckier ones who will be able to buy their initial coinBalances from companies offering them. Maybe after a year or so they will be selling them in Target and KMart along with phone vouchers
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The faucet app can have resistance against bots with unique captcha/email/address every time. With few $ balance and 1/1000 reward It will last long time to drain up to smallest SafeCoin unit.
Than you can add limit per minute and it is not worth to spend more time to get some microSafeCoins.
And I can confirm that it works.
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If it turns out that re-branding is called for this will be an important consideration: how well the new coin name works with prefixes such as deci, centi, milli, micro, nano and deca, hecta, kilo, mega, giga.
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But we do have a unique identity on the network, after we have authenticated. If it also costs coins to create an identity, then there is a cap on that too. Anyway, just thought it was an interesting avenue to explore.
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I was talking about a faucet used after the discussed invite process had been completed (see last update).
Account creation could be allowed without safecoin by using a flag associated with the account data map when first stored on the network.
The network could demand that a sliding minimum of storage space be provided until the account can be paid for. The host section then fills the provided space with random data and subjects the new node to random PoR checks.
To avoid gaming the system the host section will request that random chunks be regularly provided on demand by the newly bootstraped node. Failure results in the loss of the account. Forcing the user to restart the process.
A SIMPLER METHOD could be to just allow for the account to be created for free with a temp flag. The network then deducts the cost of the account (x2-10) the moment the new vault earns enough. Once the cost and interest is paid the temp flag is removed and things proceed as normal.
Spamming should be a problem since sections regulate the speed of joining nodes. Giving nodes that pay for their accounts immediately upon creation priority over those that via other means.
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This is a way this coin has found to spread around ! Someone tells you to start mining on your cell phone, then you have a few tasks to complete in order to get more ETN…
I guess when the apps for cells phones are running well for Safenetwork it could a good thing to start spreading safecoins by incentivizing people to bring more people in, not only receiving coins but getting to know what the network can do for us…