Safex Development Update November 6, 2017

So we have a exchange

SO have “Exchange Credits” “EXCR

This way its the credits but tied to an exchange.

Or maybe “Safe Exchange Credits” “SEXCR” I think “SafexCR” is too big a ticker symbol

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ok, so its hard to think of something other than coin, credits, cash. i took a couple of minutes to think out of the box here …

something that could have value:
Safex Pebbles
Safex Gems
Safex Chips
Safex Rocks

something that is a smaller part
Safex Bits
Safex Spots
Safex Atoms
Safex Dots
Safex Speckles
Safex Flakes
Safex Stars
Safex Sparks

if you would like to extend the space theme:
The safex economy is a solarsystem
The marketplace is one of the planets,
A coinexchange could be another planet, etc etc
In the safex economy we pay with sparks, stars, or comets or asteroids, or particles

ok maybe it’s crap…, just trying to think of something different :slight_smile:

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I’ve been thinking very hard about this too.
In the United States the IRS has stated that ownership of cryptocurrency should be treated like property.
That gave me the idea that we are all like property holders.

I’ve been thinking we keep " Safex Coins" as the name for the currency to be used on the “Safex Blockchain”, and something like “Safex Deeds” for those of us who now hold a vested right to dividends.

So all of our current coins would be renamed as Safex Deeds, and once the market is launched Safex Coins will be earned and mined, and used for merchant purposes?

Safex Deeds = ownership of Safex
Safex Coins = dividends, market currency

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I read this the other day and forgot to comment. Love the sound of Safex Deeds, very original @jcasale good thinking.

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Democracy… so overrated. Safex cash…

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I agree, safex cash. Simplicity and adoption of new money outside of current crypto holders. IMO mass adoption will want to invest cash into “cash,” not tokens, or what sounds like star wars money. Simplicity, security, anonymity, useabilty, and appeal to new money should be focus. As we said in the Marines, KISS, keep it simple stupid.

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Sentry coins, sentry credits or sentry notes acquired on the Safex blockchain. Pretty synonymous with what’s trying to be accomplished with this project.

While we are still guessing, let me add this to the conversation:

one hundred million Satoshi’s make 1 bitcoin; one hundred million [WHAT??] makes 1 Safex coin? One hundred million [WHAT??] makes 1 Safex cash?

“Hey, I have bought a [ITEM] for zero dot zero zero zero zero zero hundred forty five Safex cash” - I don’t think so!

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You’re 100% on this @dogberry we also need to break down to individual units.

Easy, we can all it Dabeks. I got a new laptop for 10,000 Dabeks.

It’s a joke btw lol

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1 nano represents 10^-9 (i.e 10 raised to the power -9)

How about “nanex”

1 nanex = 1 billionth of a Safex Coin
1 nan = abbreviated form

1 Safex = 1,000,000,000 nanex = 1,000,000,000 nans

or

1 nanex = ± Billionth of the marketplace Coin

Although there is a website www.Nanex.net, and there is an Android cellphone with the name “Nanex.” Would this be a problem?

I noticed there is a company registered as Safex Chemicals http://www.safexchemicals.com/company-profile/
but this is not the same as Safe Exchange Coin or https://safex.io/

Just my 2 cents, I’ll keep brainstorming…

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Or “sanx” instead combining things “snanox” doesn’t sound right so shortened it to “sanx”

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We could do

Safex Share
Safex Cash
Safex

I got the video game for 20 Safex. Since people will probably be using this word the most in conversations, might as well use the main brand name.

Not a big fan of all these random obscure words, keep it simple with Safex.

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I thought we were discussing breaking Safex, Safex Share, Safex Cash, whatever into smaller units as Dan was suggesting:

You have “bitcoin” and you have “satoshi”

There has to be some way to describe the smallest unit of Safex, or whatever…

Something like “nanex” doesn’t replace Safex, Safex Cash, Safex Shares, or whatever, just a name for the smallest unit.

Maybe something like:

1 Dan = 0.000000001 Safex

I was suggesting to use Safex as the smallest unit (like satoshi). Since it will be the most commonly mentioned word.

I’m just thinking of whatever works best in a conversation. It also helps with cementing the branding as well.

Q: How much did you get that phone for on the Safex market?
A: I got it for 500 Safex

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I see… Good suggestion, I like that idea!

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What about an abbreviated form for Safex.

1 satoshi same as 1 sat

Maybe we should wait until we get past $0.01 per Safex to have this discussion. We would have to break $1.00 before this even gets close to being an issue.

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How about using the term ‘bits’ for the fractional units? The word bit has been used for both an expression of money as well as data.

Another way to integrate the Safex name into everything could be to call the fractional pieces Safex Coins.

1 Safex Coin = 1/1,000,000,000 Safex Cash

i.e. I bought that video game for 410 Safex Coins.

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