Basically, SAFEX needs to be a crypto exchange too for the dividends to be worth it.
The Silk Road generated about $1.2 billion in revenue over it’s course, but crypto exchanges generate that in ONE DAY! Correct me if I’m wrong (I want to be wrong lol), but the numbers just don’t add up.
That’s just based off other exchanges (Coinbase charges 0.5% etc.), it doesn’t matter what the miners get, we know SAFEX shareholders get 10% from Dan.
But again, the calculation is assuming crypto trading (so will be lower if only trading good/services)
Ebay’s fees all up including card fees is 10+%
Silk Road was 6%
Are you referring to coin exchange fees when you state .5%?
I’m still unaware of when Dan has claimed we will be seeing 90% of the fees going to miners, can you please provide a source.
Coin distribution is quite irrelevant when talking fees.
We have 3weeks till we see the rates that this guy claims he already knows. All parameters spoken of previously are just theorised and are not fact.
Nice stab in the dark @webber. We have an economic team that is analyzing and drafting the economic whitepaper, the whitepaper of Safex essentially.
Please hold all speculation until then.
You failed to factor in that we will make a strong effort towards calibrating the incentives to please miners, safex holders, merchants, and purchasers.
It’s terribly disheartening to be compared to the metrics of silk road as well.
It’s not a problem. Yet I do recall reading your reddit post, and thought… from my experience there is a lot of wealthy and ultra wealthy people who would love to earn 7.3% per year
Also your assumptions based on $500m marketcap suggests that owning safex from today would land a 140% roi for the year in Chille earnings, since marketcap today is $20m
Note: this is discussion, not the actual proposal from our economic team
checking on your math 100,000(investment) / 500,000,000(marketcap) = 0.0002 (ownership)
your suggested 0.5% fee and 1,000,000 earnings in fees per day = $200 not $20 as suggested in the post… (can you check that?)
Yeah $200 total fee but I took 10% for the dividend.
Thanks for catching the fact that I didn’t take into consideration of the growth of SAFEX value itself. I redid the entire calculation to reflect that.
What I found was that the dividend payoff is linearly proportional to the market volume.
so if i put 25k into safex? thats around 2.1million safe X as of todays market thats almost 1% of the company, but you get paid in chille coins so it really depends on how much chille is going to be worth no?
I really hope they make an exchange in the long run too. Trading different coins with no middle man and profits going to safex holders. Trading different anonymous currencies based on the chille blockchain, could be huge.
I think this is a nice idea and worth keeping in mind as the new blockchain nears completion. I’m not sure it was the initial intention of Chille, but as you say, it has potential. Plus, screw those big exchanges!
Well I don’t think the dividend profit depends on chilis value. If we’re supposed to be awarded $100 USD, we get 1000 chilis if chilis is worth $0.10, or 100 chilis if it’s worth $1.00.
