First few lines to introduce myself and explain you my background of knowledge about the subject. I’m studying finance at the University I have a particular interest regarding projects with a common points decentralization. First, I started to get interested in bitcoins several years ago. Subsequently, I deepened my research and invested at the beginning of Ethereum and MaidSafe two innovations that are quite ingenious and I think both have a very promising future.
Recently, I have read about Safe Exchange (market cap of 1.6 million US dollars). I have invested in this project for several reasons and I will try to explain my vision, although I want to remind you this is pure speculation. Because the application runs on the SafeNetwork, it enables unparalleled anonymity on a network that cannot be shutdown. The first users of this application will likely be for criminal purpose, as was a large part of the users of Bitcoin. In this way, I think it could become the SilkRoad 2.0. Although this is not what I want, the black market represents a huge amount of money. If Silk Road was a legitimate company’s capitalization was estimated 2.4 billion (http://www.businessinsider.com/silk-road-valuation-worth-2-or-3-billion-2013-10). Here, I am not trying to assert that it is the total value of safe coin exchanges that are in some sort of the share but to be realistic and say that a part of illegal trade will go through the safe exchange, and subsequently increase capitalization. If this is true, many people will want to acquire SafeCoins to trade on the application. This would increase considerably the demand SafeCoins which at the same time will increase the value. Then, as the value will reach new higher levels much more than what we currently have thereby create a huge incentive for the farmer and developper building new apps. As there will be many farmer, a SafeCoin will value a really big capacity storage on SafeNetowrk and will encourage corporations and people to store the data on the SafeNetwork. It’s a big wheel which only pick up speed. I think she is now unstoppable.
This is only speculation, but this is my vision for safecoins and safesexchangescoins. I guess we will see the market cap reach 10M within the next month so hold on to your coin
Excuse my english I just put that on google translate…
Highlighting SAFE Exchange as Silkroad 2.0 is just limiting it’s possibilities. The black market part will just be a sub-category. More important are the features that the DBOT want implemented. If SAFE Exchange can become a wallet to keep altcoins in and also enable people to exchange coins it might become the most used exchange in the crypto-sphere.
My latest problem was trying to exchange Ether for SAFE Exchange Coins, it was just not possible. I needed to exchange Ether to bitcoin and then bitcoin to SAFE Exchange Coins. This just seems sucha backward process. Usually I use Shapeshift.io to easily exchange coins, but if SAFE Exchange can do this for more coins and faster, it will give people more reason to use it.
With 600+ altcoins out there, if SAFE Exchange enables coin dev to add their coins with just a pull request and a small payment of 100 euro’s. SAFE Exchange would create true liquidity for all cryptocurrencies. What most exchange fail to realize is that bitcoin shouldn’t be the reserve currency to exchange altcoins. If you have a reserve currency, you limit liquidity in general, Shapeshift solves this problem, by allowing alt to alt exchange, but the true potential is still limited, because there are limited coins available. Now image if SAFE Exchange enables over 100 altcoins, it’s just pretty simple, it would be the most used exchange in the crypto-sphere period.
Just decentralizing things means nothing, because if decentralization becomes the norm, your no different from another decentralized exchange. If SAFE Exchange solves the “liquidity problem” in the crypto-sphere, SEC’s will skyrocket. Time = money, so all the exchanges out there who think they can take the time of 7 days & payment before they introduce another coin on there exchange or even worse in Shapeshift’s case they don’t even give you time. People get pissed because the banks take time + a fee to transfer money, will crypto currencies are putting an end to this. In the same way I hope SAFE Exchange will put an end to the luxury of time that these crypto exchange think they got. IMHO nobody got time and these are the real serious problems that we should solve.
I don’t want crypto currencies to become the new banks and at the moment they are, because you can’t exchange all crypto’s for another.
@wallet this is not an attack on you OP, but I think we should focus on the things that really matter. Speculation are not needed if you can unite the crypto communities out there. I’m just saying this as a rough estimation, but if all the crypto currencies out there have a marketcap of $9 billion then we already got a good start. The more we realize that every crypto community out there is one family, the stronger we’ll be and easier it will be to reach 1 billion users.
@wallet, the first use of safex will be selling Dally’s teacups, sugar, and tea
On silk road the founder Ross encouraged people and also himself sold drugs. This is not what is happening here. The creation of safex is for all legal activities in your respective jurisdictions. Does that mean a Legal California pot dealer can sell exclusively to Legally approved California people, the answer is yes.
In no way are we encouraging the activities of illegal, because there is So much legal money that needs this exchange.
Also the acquisition of Safecoin is more fair than any other crypto coins, and it imo has most utility. There is the potential of a bigger adoption of our software, than any other crypto coin out there now. REgards one family, that’s ok yet sincerely, IMO there is little urgency to require a maximum of time trying to convince block chain coins and their developers; they can choose to learn more on their own, and I think we make it very easy to do so through forums and publications about SAFE something that I had considered a #1 priority earlier in this endeavor. I have learned that it is not urgent at least anymore.
In truth, we don’t need anything from the existing crypto economy, in fact it is great since we introduce our projects to complete outsiders. Consider how limited the crypto currency group is in its size. There is a slow adoption even still, yes it is growing but I am saying that, just because the others are bigger right now, doesn’t mean that they are doing everything right.
If we can move away from the idea that currency and money are the same thing, new and bold vistas come into view. As I’ve come to think of it, money is a promise of value insured by a show of strength (law and piles of gold, at one point) and is transferred from one person to another as an exchange of resources whose values are speculative.
Currencies, if the world is able to have an almost unlimited number of them, are free to be information. Depending on the contexts in which they emerge and the contexts that emerge around them, currencies are meaning-enriched data that will show us pockets of real wealth that are currently invisibly to us because they do not exist within exchange markets. There is value, for example, in picking up litter. We just don’t have a way to measure the activity. But once we find a way, once we find a way to make visible more of the value derived by more of our activity, we will begin to create markets - maybe not exchange markets, but maybe the case is that a world of 8 billion people can not exist on exchange markets alone anyway.
Apologies if this is so abstract as to be useless! I have spent much time reading. Short version: I have a hunch what’s happening here with Safex is way beyond the network architecture that will enable it, which itself is way beyond the blockchain and any of the things blockchain is being used for right now.