Congats!!! Off to a good start already
first 24 hours making candles
Now we just gotta get accepted on Polo and wait for whales to give us a good pump =)
Anyway If you really think it’s possible to launch the exchange by march or april that would be really amazing, hopefully I can help in near future too.
I would be interested in supporting when latest sources are released on technical aspects and also supporting markets
Gave a great day
It will not be possible to lauch safex before the safenetwork be available.
Don’t think safenetwork will be online anytime soon, maybe on the end of the year
@capivarao I wouldnt discount Safe Network hosted by MaidSafe will go live “soon” That’s enough to start trading cryptographic material over message on that network…
WIth the safecoin and farming, the complete package… you’re right unknown time;
But all that time we can continue to build on the safe exchange and it’s utilities for people
and perfect the craft.
Market trading after almost 48 hours considering the size of sec marketcap all appears reasonable
at around 54 satoshi market cap of safex = 0.00000054 * (2^31)-1 = 1158 BTC ~$450,000.00
Hope to see it get 10 times bigger, around U$ 4,5 Mi soon,
Yeah lot of cheap coinage right now. 10 times is .00000500. It’s not unreasonable to see that sometime down the road. Why people are selling coins below .00000050 is beyond me. Maybe they’re hoping to buy back in even lower before it goes up?
Some folks might be eager to cover the risks by selling the portion that equates to their original investment, that is common.
Admittedly, I placed buy orders in the 30 satoshi range, and I was glad to get some of course
The speculative value of these coins regards how well it pays off to own SEC when it redeems a dividend in the form of SafeCoin.
They could become more expensive depending on the price of SafeCoin of course and how much coin usually comes out.
Only way to know is to have them; SAFE goes live and see what it yields.
A price will rise simply if sell orders are consumed by buyers and as always reluctance of owners to part with their possessions cheaply.
The thought crossed my mind too: How does SEC costs lower than MAID?
Then i try to estabilish a relation betwen the two of them, but lack of informations stopped that.
I would like to know the DY% of SECs in safecoin…Dan, could throw some general numbers?
SEC earns from the dividend from safex client; The safex client when used is eligible for Application Awarded Safecoin. 10% of the safe network coins will dynamically be allocated to those applications. So when the client earns SEC holders also earn. Whether you have 1 or many you get some Safecoin.
So depending on network participation size, and data capacity available will determine how many of the ~430 million Safecoins that are distributed to applications.
Since we have not yet seen a benchmark in the wild how much Safecoin, you can speculate though, that in fact there will be Safecoin coming through owning SEC.
If 10% of the network was deployed then 43 million Safecoins would be distributing through applications.
If 1% of network activity is trading on safex, then it will earn 4.3 million safecoins distributed amongst the 2.147 billion SEC.
I feel really stupid right now. is there a difference between safecoin and safeexchangecoin or are these terms being used interchangeably?
They are not similar… safecoin is the reserve currency of the safe network. Safe exchange coin is an ownership\voting token of the safe exchange . more can be found on the whitepaper safex.io
Let me get this right if i have 2% of SEC does it mean i get 2% of the 4.3 million safecoins or whatever the returns will be?
How is the distribution carried out?
using your public key, we will verify a signature payload from the owner that registers the safeexchangecoin; using the blockchain to derive a proof of stake at a given block height. we can then embed teh safecoin wallet to the blockchain
or use a github like repository and include all safecoin wallet addresses.
Yes Safecoin is the coin of the network that buys storage space.
SafeExchangeCoin (safexcoin, SEC) is ownership token of safe exchange (safex)
if you register your SEC ownership, and then move them, it will invalidate that portion until they are registered again.
With decentralized github coming up we can automate this whole process and have no people involved. INcludin voting on the rate of dividend, for instance if we wante to expand development or something like this.
is SafeCoin divisible? I saw the discution on the other forum but don’t think that ever was a conclusion on this question.
If it is divisible, then it will be easier do split then between safex shareholders
At the moment, they are not divisible; I’m sure that when Safecoin is the primary task there might be an implementation for splitting Safecoin; We can also create a conversion, where for instance 100 SEC are required to get 1 Safecoin.
That’s simple for us to do. So whatever amount of Safecoin that comes in it has to at least evenly divide; and if there are fewer Safecoin or that they are indivisible, then we raise the ante on ownership for gaining dividend.
hi! joining discussion… this is very hard for us non developers to understand, so i am still catching up with everything… can you tell me, what is the connection between MAID and SAFE coins? Maid is network - how MAID gets value in connection with SEC and safecoin? hope that question is not dumbest, tried to read white paper… to hard for my small brain
SafeNetwork is being developed to be launched soon.
It will reward resource supliers and debit resource consumers with Safecoins, the network official “currency”.
MaidSafe is the token issued to fund the project, it’s about 10% of all the safecoins that will ever exists on the network. When the network is available it will exchanges MaidSafeCoins for SafeCoins on 1:1.
SafeExchangecoins were raised to fund safex project.
It’s an exchange, an application that will live on the safenetwork.
SafeNetwork developers receive coins for distributing apps, so, Safex will get some safecoins that will be distributed to SafeExchangeCoin holders