Verify my post history to confirm what I’m saying is true.
Here’s my story…
I’ve known @dandabek “before” the SAFEX ICO. The sad part is, I could only invest a really small amount ($20). But he is my friend and I wanted to support him. All my money was tied up in another project. Still, my investment grew from $20 to $250. Then it dropped.
A year later…
The other project was not progressing like we hoped. @dandabek made the hard decision to change direction with the company. Thankfully, he allowed the investors to vote in this thread. Safe Exchange proposal for new network
After the vote…
SAFEX coin started to grow. Voting is so valuable because it allows investors to add “financial weight” to their voice. We cannot blame the man behind the curtain. The future is truly ours to shape and we will always decide in our best interests.
I was not 100% committed to SAFEX. I was still focusing on other projects. From Oct 2016 to March 2017 SAFEX was humming along. On April 2017 it really started to gain momentum. Speculators were actively trading SAFEX coin. I decided to put more money into it. And it was worth it!
Let’s Talk “Magic” Numbers
Right now SAFEX is around $0.016 as of 8/19/17. In my opinion, that is pretty low considering we have a “real” wallet software. Some projects have a 1 Billion dollar market cap with “no” product. Once the whales and short term investors cash out, this drought will end and we are free to achieve our true potential which is… $1000!!!
A more realistic target would be $0.50. That puts SAFEX in a reasonable 1 Billion market cap range. In order for this to happen, we must build the Chille Network.
The SAFEX dev team is small, which is why people doubt if they can deliver the Chille Network. There will be more pump and dumps until Chille is built and working. This is how the market works.
I was tempted to dump and buy back in at a lower price. But I’ve seen what happens when SAFEX flat lines for a little while. A huge spike shows up out of nowhere and I miss a ton of profit potential. I won’t make that same mistake again.
I’m 100% in and will help this project to the best of my ability. Belief in development is very powerful. But at the end of the day, you either have a cake you can eat, or just a picture. Let’s bake the cake!
This is just my speculation and not a prediction!!!
Why is SAFEX dumping?
Honestly, I understand why some SAFEX ICO investors and traders are cashing out. BTC (Bitcoin) price is at $4000, and probably going lower. Meanwhile BCC (Bitcoin Cash) is on the rise, probably going higher. Bitcoin’s price drop from $4500 to $4000 is negatively affecting SAFEX price. Even if SAFEX gained, the rise is being offset by BTC’s fall. I hope BTC will break $5000 but right now BCC is looking strong.
BCC vs BTC
Bitcoin Cash’s Network can handle transaction spam attacks while Bitcoin’s Network suffers badly. Bitcoin Cash transaction fees are also cheaper… just saying. If this trend keeps up, some mining pools may migrated to Bitcoin Cash, which would cause a further decline in Bitcoin. For now, the majority mining pools support BTC.
What about Segwit?
Segwit gives consumers and merchants instant cheap transactions off-chain. But it takes transaction income away from the miners. With a decreasing transaction income as well as decreasing mining reward… what do you think miners will do?
What about Segwit2X (Increasing the block size to 2MB)?
This is not guaranteed. I hope Bitcoin Core developers take the stick out their a$$ and realized we need bigger blocks beyond 2MB to handle spam attacks and increase demand from global usage. If Bitcoin is to become a global reserve currency, it needs to handle more than 7 transactions per second.
Will BCC take over BTC?
I don’t know. The day exchanges trade ALL alt-coins “directly” into BCC will be the day BTC loses it’s reserve crypto currency status. If miners devote more hashing power to BCC then BTC could be dethroned. Until then, let’s see what happens.