«Therefore, owners of Safe Exchange Coin will receive a dividend in the form of Safecoins residually, relative to the amount of Safe Exchange Coins owned at the time of a distribution. Since the Safe Network rewards application developers autonomously, the Safe Exchange as an application will be rewarded by the Safe Network and some of that reward is intended by the Safe Exchange development team to support its community of participants with a consistent stream of Safecoins from this source.»
I’d like to have more detail «some of that reward» how much in % will be allocated to owner of safe exchange coins ?
And how will you pay those dividend? how do you know who own those coins?
Sorry if it’s seem stupid question my english is pretty basic and I dont find those answer anywhere
That’s done because we can take a blockheight snapshot and reward those addresses who own safexcoin at the instant off of the blockchain (something to innovate on and transfer to SAFE Network)
Great question, the answer is no. Bittrex or Poloniex will get the dividend. Also, as We’ve been moving forward with the voting application this question came up. Those who hold the coins will be able to vote.
So if a vote is coming up, you must have your coins in your private key you controlled.
If coins are stored at the exchange dividend will go to whom it is owned by in those cases Bittrex private key, and Poloniex…
Migrating SEC to Safe Exchange makes that not an issue, because you will never have to deposit with someone else. So you should still be able to make an offer in exchange, and still receive the dividend personally.
I think it’s an incentive to keep SEC, and other coins like it in your own wallet. Since trading them is more speculative, and in today’s cases blocks you dividend gains or ability to vote.
The future is even brighter IMO since our exchange will make this ‘issue’ irrelevant, we’re getting there.
At the moment we will use blockheight from bitcoin block chain since SEC is embedded there. So virtually every 10 mintes, each new block we will check if there is new Safecoin in the wallet then distribute to all listed on the ledger as holding the SEC.
If those coins are on a wallet with a centralized exchange; their address shows up, they are entitled to the dividend in the amount held by the centralized exchange.
I missed the crowdsale and bought some on Bittrex. Can I transfer them to a bitcoin paper wallet and still get dividend? When do dividend distribution begin?
Great question, [quote=“capivarao, post:13, topic:207”]
so, how will safex link the bitcoin address that holds the SECs of a person to the safecoin Address?
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We will implement a module to register the safecoin wallet of the address of the SEC; At the moment it seems we will need to append the safecoin wallet address to the bitcoin block chain. Not a big issue, except some privacy desires, though once you get the safecoin you can switch owners promptly.
When SAFE Network is stable and SEC is put into SAFE we will abandon the block chain.
I’m personally looking forward to this part.
I want our farming co-op crowd sale directly on the SAFE Network, using SD (Alt coin creation).
SAFEX is going to be first place to post them.
This is what I wrote to my wife today convincing we need to invest some into safex (or something like that). How a memory returns…
Worst case scenario. Safex completely fails and no one wants to do business on the market place. The hype of bitcoin will very likely leave us with a small profit of $30,000. (sorry baby no boat)
Market place hits it big and only the dividends will take care of all our (centralised) means of living. We have healthy financial life forever… and getting better every year. (a boat, but only for on the rivers baby)
Chille coin hits $1 on the market place. This would mean the market place has got enough attention and we will struggle to price the safex coin because they are lower value than the Chille coin… magic word: dividend for the entire lifespan of the market place. #boom (we will have the biggest yacht in the city baby)
Market place catches on nicely. Hits a yearly increase of $500 million, Chille reaches $1 and safex is know for its dividends now, hits $5. #boom (we will have the biggest yacht in the country)
Bitcoin hype continues and blows through the $25000 barrier in 10 years time. Safex is one of the most sought after coins to own, because its dividends, Chille, hits $15. Safex traded against bitcoin is 100,000 satoshi’s. #boom (we will own the coolest yacht in the world… and we will be famous baby)
Everything crashes and we got to live of tour savings. I suggest we rob a bank (well planned) and run for non-extradition country. Last boat ride we will ever have baby… and no Liberland, I guess
Nice I like the part about $15 dollars…my question was i own over 1 million tokens when i type it into the calculator i get 11,932.346 what number does this represent does this mean I get this amount of chille each year? Just bought some more coins last night going for 2 million tokens.
It all depends on the trade volume of the marketplace. You’ll notice in the calculator that it’s already set at $500 million trade volume, which Dan and Ivana have set as the goal for the first 6 months of the marketplace opening. With 1 million Safex coins and a trade volume of $500 million it is estimated you will make $11,641 in dividends via airdropped chille coins.
By the second year it is estimated the marketplace will have a $2-$4 billion trade volume. At $2 billion your dividends move up to $46,566 annually, and at $4 billion it would be $93,132 annually. A very decent income in most parts of the world.
Now here is where it gets more interesting. Only Safex coins that are locked into the official Safex wallet will receive dividends, which means all of those coins that have been lost, forgotten or are sitting in exchanges (approximately 50% of the coins at this moment) won’t receive dividends. Now those dividends don’t just disappear, they’re given out to holders, so that $11,641 you’d make that first year will likely be closer to $22,000.
