It’s not clear to me why cryptocurrencies seem to be in such a bear market now. If I had to hypothesize I would suggest that it all comes back to the question on everyone’s mind, “what is the intrinsic value of this stuff?” There has to be a “use case” that makes cryptocurrency practical as opposed to fiat. I still have to buy all the things I want or need using fiat, until at such time a marketplace exists like an amazon or some other ecommerce website where I can make all of my purchases using cryptocurrency. That was my hope when I made a decision to sell all of my other cryptocurrencies and go full throttle into Safex. I understood it would be a long term play, and anything good takes time to develop. Dan Dabek has really strived very hard to advance this project and bring it to fruition. He and all the hard working folks at Balkaneum, and others such as Rich Bate have down great work, that given my investment, I’m thankful for. It’s pretty obvious they’re committed to our success.
Given that cryptocurrencies have been in a downward slide for some time now, we’ve seen the impact of this in the price of Safe Exchange Coin as well. The current price listed on Worldcoinindex at the time of this post was in the neighborhood of $0.0060, and I was wondering if this current price will also be reflected in the value of Safex Token once it becomes available on Coindeal? Is it possible that the price of Safe Exchange Coin has declined because it will lose it’s value in a years time? Is anyone still buying Safe Exchange Coin?
Why is the price as low as it is now?
In my opinion, SAFEX is still under the radar big time. The amount of investors is stagnant. Track the follower counts of the team members on Twitter and the members in the discord channel. These numbers didn’t change much in the last weeks/months and are good indicators to see if general interest increases. In the bear market you won’t get many new investors into the boat.
How will the prices of the old and new token develop?
Once listed on coindeal I expect the price of the new safex token to be roughly the same as of the safex coin on tradesatoshi. I expect traders to arbitrage trade between the two coins so the price difference will lower in time. In theory the old token should/could be a bit higher because of the cash airdrop you receive during migration.
When will SAFEX go up?
Possibility 1: Crypto bull market comes back, hype builds, SAFEX pumps among other coins. (This can be away days or months, we don’t know.)
Possibility 2: The market gets delivered and actual use fuels a SAFEX bull run. This scenario could also work out if BTC is still in a bear market. (although I think the impact of the things delivered has to be fundamental in order to create a run on SAFEX in the crypto bear market.)
I expect this the latest in Q1/Q2 '19 and not dependend on the BTC/$. (I call this “decoupling of altcoins with actual use from bitcoin”.)
If you look at the SAFEX/BTC chart and compare it with other altcoins you will see that SAFEX stood its ground quite well. It’s mainly down in $ because of the BTC dump. You should not be worried but may take this cheap buying opportunity as a gift (I will).
We can definitely create our own bull market on safex: we just need to generate demand. How will we do that? by introducing a product that some group of people want and only making it available in exchange for safex cash.
We have such a product in the pipeline that will take until the Spring to come about; so perhaps the ball is rolling on accelerated awareness and acquisition of safex products to start in Q2; yet the results would avalanche onwards, into the general bull market.
Other factors include additional exchange listings on those exchanges where investors are speculating on new things.
2 kinds of players -> users and speculators (investors)(not actually the same but used)
Users more likely create the one way motion of up since these users are buying coin to put them to use;
Speculators would buy to sell later for a profit if they can.
In the past year Safex wallets dropped by 2000 people from 11,000 so we could assume that those are the majority who sold to get out. This is a great number; since it is 25% so 10 steps forward 1 step back.
On the team’s side, we’ve built a lot and produced a ton of content which . we are in the process of organizing for proper consumption. Not an overnight process but a nice transition into information that is actionable easily.
I think most in the cryptocurrency market tend to look at cryptos as purely an investment and not something to be spent. After all there’s really not any pure marketplace out there at the moment. The way Dan and team have created it is to take care of all of that in its ecosystem. It takes care of investing (Safex Token) and spending (Safex Cash) which is being distributed correctly where people can’t hoard it. Add the marketplace and divs, and we have a well oiled machine. With other cryptos it’s just like parts laying around that haven’t been put together.
@Amcdoc If you can only afford one I would get the token. However you need to buy Safex Exchange Coins (found on Trade Satoshi, or safex.io). Once you have those, you can migrate them and they’ll be changed into the tokens.
Safex Cash is very important as well its the driver behind the wheel, without it personally I don’t see the token rising much because the token and cash work in tandem. Cash is meant to be spent and the token is for investing.
Hi can I leave my safex token in version 7 wallet.my computer does not support orbiter wallet.i want to wait for another update.just want to make sure is it safe to leave all my safex token in version 7 wallet even after 30th November,2019.plz let me know.
As you may already know, after November 30, 2019 Safex Exchange Coin will essentially become irrelevant as it has been replaced with Safex Token. Safe Exchange Coin exists on the Bitcoin blockchain, however, the architect @dandabek always intended for Safex to have it’s own Marketplace and to do that he created the Safex blockchain. This is why any Safe Exchange Coins must be migrated from the Bitcoin blockchain to the Safex blockchain by the end of the day this Saturday, November 30, 2019. For each Safe Exchange Coin you will receive one Safex Token and 0.0023 Safex Cash.
Safex should gain more traction with the release of the Safex Marketplace hopefully before the end of 2019. The testnet is currently operational now to uncover any pitfals with the release of the mainnet hopefully soon. Anything good takes time, so the developers understand how important it is to get things right.
Cryptocurrencies were all the buzz back in 2017 and 2018, but it’s important to remember that there was a lot of wild speculation that drove prices really high as people became “afraid of missing out”. But in reality, things are only worth what others think they’re worth, which may be nothing more than hype! Unless of course something has an actual “intrinsic value” it’s monetary value will be based on it’s utility. @dandabek understood this and created Safex to have an intrinsic value. He and Balkaneum have been actively developing and promoting the project, however, I believe it is a long term hold! I believe in a year or so Safex will become one of the Mainstays of e-commerce, but only time will tell. I’ve been hodling for over two years now. There are others who got in much early than me who still hodl. It’s important to invest only what you can afford to lose and understand that with risks come rewards, but the opposite could also happen. I wouldn’t get too discouraged because I’ve seen a lot of progress in the last few months and believe the marketplace will become a reality soon!
In the past two years we’ve been focused on development. Most people invested in ERC20 coins speculatively, we have been around before that came around.
Ethereum coins are not blockchain, they are applications on a congested network that does not support individual apps. So most people came to try to win money on those coins. Not on advanced coins like Safex that have their own blockchain.
We only just are rounding up our product that we proposed: the marketplace.