So here are my thoughts…this is going to be predominantly for illegal transactions and will drive revenue.
You say but what about eBay, well okay, but if I am looking for commission free transactions I have Gumtree and av forums (in the UK).
The higher the value of the coin, the greater the dividend diminishes in percentage terms, as an pearlier adopter great, later adopters rely on continuing increases in the coin.
The block chain won’t be akin to the likes of eth as far as I know …i.e. it won’t be connected to ico’s.
Eth has smart contracts, stratus has smart contracts
Bitcoin has ever growing adoption.
Safex has a market place, a market place which may succeed but with it a huge supply of coins.
If you look at the surges in price, you can basically buy any coin with a small supply and see a big leap in price.
There appears to be a definite ceiling with safex even if it’s popular but the more popularity it attracts the more it will catch the eye of various authorities.
In summary this is a huge risk but given the very low price, worth it.
What is your speculation for a ceiling price range within 18 months post blockchain/marketplace release?
It is simply speculation on my part and let’s hope I am wrong but I would say the ceiling will start to set around 20 to 30 cents. Which obviously for any early adopter is still a great return as I know some of you invested when it was fractions of a cent. Equally though as I have said before timing is everything (almost) so this could easily fail for any number of reasons.
I hold over 190,000 safex but I fully accept this is a very speculative gamble.
This is nonsense. Nobody knows nothing about the Future. It may be zero ir 10 dollars in one year, or ten. Lets Hope for the best
Absolutely, I never said I was right
However I do think timing is key, right now you could release a coin called shitcoin and it would soon be worth 40 cent a coin. Once the mania phase has worn off though it’s better to be conservative rather than ott
We’ll keep in mind that the marketplace revenue could increase too as SAFEX prices increase.
The dividend used to calculate the is set at $500 million for demo purposes.
The market fills a gap and gives traders what they need. Risk isn’t as detrimental as accused. I’d say it’s quite a low risk/insane reward atm.
Price per coin really has no bearing, because it’s all relative to max supply. It’s really the market cap that has importance.
The main problem is mindset.
When the European Union adopted the Euro, people kept comparing prices to whatever currency they were using last week, last year, two years ago. Studies said that it takes about 8 years to make that changeover. Especially elder people struggle longer; simply because they have used the ‘old’ currency longer and are not known as the easier adopters of ‘new things’. The same for smart phones (there’s plenty videos available where people in the early 90’s were asked about mobile phones and many answered that they would not ‘join that crazy hype’). I don’t think I have to say more about mobile phone popularity nowadays. Through history this change of mindset is always rejected at first, but later adopted massively. The internet, cars, planes, computers and so on all had no future…
Let’s say in 2030 you buy a box of matches and this cost you 2 safex cash (or whatever coin/token is used). Does that make the box of matches worth approximately $0.50? No! It makes the box of matches worth 2 safex cash… to you. Cheap or not? I don’t know! Maybe the same day you buy the matches you see on the news a rare 1950’s sports car was sold for record breaking 15 safex cash to an anonymous bidder on the safex market place. Now the box of matches has become very expensive and paying 2 safex cash seems a big rip off. (I bet that right now in your mind you are setting out this example in dollars - that’s what the change needs to be).
Daniel Dabek was speaker in Tokyo earlier this year. He was talking about worldwide cryptocurrency usage and mentioned that only 2% (or so) are somehow investing/using/ involved in cryptocurrency. The funniest (I thought it was funny) thing happened 1 sentence later when he asked the audience to raise hands if they were invested/using/ involved in cryptocurrency, he looked surprised that so little people on a cryptocurrency seminar raised their hands. Moral of the story: 2% is really a small amount of people.
Let’s assume this has now increased to 3%. This means that 3% of the world population manages to create a total market cap of crypto’s of over $300 billion (today). Very soon this will be 5%. where will the market cap be? Who cares! Unfortunately for e.g. bitcoin this will lead to the downfall of the cryptocurrency. The majority of people investing in bitcoin want to get rich out of it… fiat currency rich that is. Why is that? Simply because there’s not enough places to buy your products and services online using crypto, so people aren’t assisted in changing their mindset.
This obviously is where safex comes in. Slowly we, our generation, will be the very first pioneers of changing the biggest Ponzi scheme in the world: Fiat currency! The same mindset tells you that anonymity is linked to illegal transactions. May I remind you that most preferred cryptocurrency used for illegal transactions actually isn’t a cryptocurrency and it’s called the US Dollar. Bankers tell you that cryptocurrency is used for illegal stuff. Yes of course they say that; crypto will make them less needed and will expose the scam they are trying to sell. They are simply protecting their jobs and scams.
Newspaper article yesterday: “ECB wants market place for bad mortgage loans to spread risk and reduce the bad loans”. Who comes up with these bad loans? We’ve all seen the movie “the big short”. 11.5 million articles in the Panama papers; these articles aren’t about cryptocurrencies, but about fiat currencies and mostly about dodging taxes. Paradise papers the same. There’s a lot of banks and bankers named in these papers… You don’t have to guess why they are mentioned in these papers. The other crooks mentioned are lawyers, politicians and wealthy people.
I have been ‘promoted’ to some kind of expert in cryptocurrencies in my neighborhood. Not because I am, but simply because I started mining bitcoin in very early days and that reflects in the size of my house, my cars, my continuous travels, etc. Since the grass is always greener on the other side of the fence and that grass happens to be my backyard, people started wondering how I financed all my stuff. I have been investigated by the police as I was thought to be a drug dealer (A neighbor has a brother who is police officer). I don’t need that kind of attention from anyone (anonymity = freedom). People get nosy when you have more than they have, but work much less. Until one neighbor simply asked how I did it… I answered: “bitcoin” and he said: “What?” This was about a year ago. Now 75% of the people in my neighborhood are investigating to invest in which crypto. 90% of them will fail to succeed in their quest to buy a bigger house, faster car, etc. Why? Indeed… because of their mindset.
What I tell my neighbors is the following: “Thomas Edison needed 1000 attempts to make the lightbulb working. When Edison was asked about how to stay motivated after 999 times of failure, he looked surprised and said: Failure? I found 999 ways how to not make a lightbulb glow; apparently there’s for now only 1 way to do it right. My gift is not only a working lightbulb but also a way for future pioneers not wasting time on the other 999 ways how to not do it. This is where we are with cryptocurrencies as well. We are still trying to get it right and are not giving up to achieve that. Bitcoin was the birth stage of cryptocurrency and we have now reached the stage where we learn to walk. This learning process will not be without falling; but some cryptographer will get up, try again and do better” (I made up this Edison quote, but it sounds kind of logical and gets people into a different mindset).
You yourself, are also a pioneer, maybe not because you are a developer, but for the simple fact you do see the potential of cryptocurrencies and therefore got interested. Likely driven by USD gains, but slowly you are moving into the future and you hold 190,000 safex coins (smart move). Lots of people claim to be experts in predicting price developments for cryptocurrencies. Claiming they sell their safex holdings in three years. By then it is supposed to be $1 or so. They ‘know’ this because they have been ‘into bitcoin’ since the beginning. Basically being able to mine bitcoin in the early days also gives you a degree in macroeconomics. Two very strong factors drove me to invest in safex. Nr 2 is the market place and 1 (very underrated) the emission curve of the safex cash mining. As soon as the whitepaper is out, you will see other cryptocurrencies emerge and adapting the same strategy. Like Ivana said: You can’t just force a new currency into the market. The economics behind it also need to be right. Nakamoto was a cryptographer, but not an economist.
One day, due to technology, healthy living people will be able to live up to 200 years old. I guess you can see this happen in the future… but have you ever thought about it that the first person to reach 200 years possibly already has been born. It might be you. THINK BIG!
A little concern of mine. Atomic swaps
Charlie Lee nails it when he assumes a descentralized crypto coin market would pressure for higher fees. Central/Vertical systems tend to lower costs (a trade off between fees and risks happens here)
I believe safex’s future is trading goods and services.
Hey, Nice post!
Thing is. Common people should come in to SAFEX and easily use their bitcoins. “Safex cash” should be a “hidden blockchain” for the regular public (don’t mistake it for not open-sourced).
Bitcoins are becoming money. Common people will have easier than Safex cash. Safex cash blockchain is the bridge for anonimity. I even wonder If Safexcash need to have a fixed cap…
Maybe you have misunderstood where I was coming from. Ebay is what consumers use as a market place currently absolutely as well as the aforementioned sites. Given the decentralised thus unaccountable nature mainstream buyers are likely to be deterred.
Now that is a seperate issue to the global money laundering which takes place with the global mafia syndicate (banks and cartels and corporations). Of course they are the biggest criminals. I am simply saying that this coin stands for it’s market place and relies on the exponential growth of this market place to pull in later adopters.
It lacks the utility of the other stated coins as far I can see.
Good to read a civilised exchange of thoughts though!
I just want to understand your point better. You’re saying even though SAFEX has the right idea, it will only attract non-traditional buyers.
“It lacks the utility of the other stated coins as far I can see.”
You are referring to smart contracts?
Not too sure about the ceiling for dividend, because the marketplace revenue can increase as well.
Essentially I am saying that outside the marketplace there is little utility for this. The reason for being is the market place, within continual substantial rising within the market place future investors are going to have no real incentive with dividends.
I am not sure how this last part can be achieved given the fact that the market place will be entirely non regulated, entirely buyer beware which may dissuade many typical mainstream buyers.
You mentioned future investors won’t have incentive with dividends. That’s not necessarily true. Even 10-20% dividend is massive incentives, where can you find that return in traditional markets?
You’re assuming the $500 million market cap stays constant, which won’t be the case if SAFEX value goes up. Think positive feedback loop.
It takes a paradigm shift to envision a new future, decoupled from traditional mindset and way of life. We’re in a new digital age, and millennials are more technologically advanced and open minded than baby boomers. Your definition of the “typical mainstream buyer” may change over the next decade.
Plus, any business would kill to be able to avoid paying taxes.
Most businesses would avoid this as they have to account for their purchases, don’t want to take risks with purchases in which there is absolute risk.
Secondly, let’s say the price is 1.00, unless the marketplace is going to increasingly grow in sales every year, then the new investor is only going to receive 5 percent dividend.
The entire success will be down to the marketplace, the coin holds no utility outside of that. Now, maybe a mania will set in, maybe the market place will continue to grow but most mainstream consumers will want to avoid a market place where they pay commission and carry all the risk.
Again, just my opinion
There’s definitely an element of risk investing in safex at this point. It’s not a gaurenteed success.
I think some businesses might go for a trial run, maybe selling 1 or 2 items to test the waters.
If that worked they may sell more items on safex. The transition will be gradual, but the risk of putting 1 item on the safex market is literally none.
They don’t need to switch over right away. They’ll know if it’s working after the first item.