Why we buy crypto

General Discussion
#1

How many on this forum are anxiously waiting for the release of the TWM wallet version 2 and the TWM mobile app?

It’s clear that Bitcoin has a place at the table well into the future and beyond! I believe you could add Ethereum and a few others to this list. But as has often been bandied about far too many times, “there’s Bitcoin and then there’s everything else,” is the sad view that ostensibly everything else is of little value. “Everything else,” disparagingly refers to altcoins, while some refer to altcoins in an even harsher term.

The article below supports this conclusion:

https://link.medium.com/wqCKRxd13ib

However, everytime I fancy the idea of hoping to buy the next crypto that’s going to make me rich I stop and think, “What can I use it for? Is it something I’m going to want to use, or just hodl on the speculation it’ll increase in value over time?” This is when I remind myself why I purchased Safex. At some point in my old age I got comfortable buying items online, often through Amazon. But I hated the fact that doing so meant that it would be weeks, if not a month before the bank would pay the credit card company with my funds so that I could finally reconcile my account. This delay doesn’t happen with crypto. And additionally, Amazon does not reward me with cash back, although Discover card does. But unlike Discover card, with Safex not only would I get cash back from a purchase or sale I make on the TWM, anyone else who stakes on the market will get a piece of the cash back. This is a significant incentive, immediate transactions with the ability to earn cash back! Anyone, with little investment and experience, anyplace in the world, can benefit from the Safex ecosystem and using the TWM platform.

That is why I bought Safex and continue to support and hope for this project to succeed. The only question that matters now is will it?

The article above singles out Bitcoin as the only crypto investment worth your time and money. I ask the question, “can Safex do for us what so many believe Bitcoin can do for them?” For the majority, investing in Bitcoin may be too late to make them rich. But it may be enough to provide them with a guarantee of freedom and security well into the future. I hope someday Safex will be among those spoken of in the same vein.

Appreciate the hard work and persistence of @dandabek, the community, and all those involved in the future success of Safex and the TWM. It’s relatively unknown I think. But I hope that’s about to change !!

https://pool.safex.org

https://safex.ninja/fund

https://safex.market/interest

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#2

All good !

Why we buy…

But let’s not forget the why we mine !

And the unique s curve of Safex.

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#3

Good read.

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#4

Thank you @Michaelskidmorerocks and @thxo1138 !!

I don’t think enough people know about Safex and the Safex ecosystem. Mark Cuban has been quoted as saying that he won’t buy a crypto unless it has a good use case. He asks himself the question, “what can I use it for?” That was the question I asked myself back in 2017, and it’s especially relevant today.

Being a highly successful entrepreneur and billionaire, Mark Cuban didn’t at first believe in the use case of crypto, but he did support Blockchain. With the emergence of smart contracts Mark Cuban became a believer and has only shown interest in crypto projects that support smart contracts that have an essential use case.

Safex does not support smart contracts because this would divulge details about the parties involved in the transactions, and Safex is both decentralized and anonymous so smart contracts kind of defeats the purpose. But for ecommerce, I believe Safex is optimized for just that! Would there be a need for smart contracts as an enhancement to the TWM? I’m not sure about that, but I do know that @dandabek wants to provide merchants who engage in ecommerce on TWM with a similar suite of tools available on Amazon.

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#5

Nice read! Whats up with the sft coin price?

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#6

Hi @AriGold

With the release of TWM wallet V1 (pre-release), purchases could be made on the marketplace using SFX for the first time. Additionally, a fraction of those sales profits could be redeemed as SFX simply by staking SFT. However, since the pre-release was designed as a trial run, the marketplace is only supporting one merchant at this time, so the sales volume is very low.

At issue is the fact that all available SFT was sold in the initial fund rise. SFT only exists now as a “store of value,” which limits it’s price point. But that will change with the addition of merchants and an active marketplace that will be accessible either thru a desktop app or mobile wallet app.

As more merchants are added following the release of TWM wallet version 2, sales volume should continue to grow which in turn will cause greater demand for SFX. As demand for SFX increases, the accompanying price increase in SFX incentivises the use of SFT to earn cash back rewards from the increase in sales volume. At this point, the price of SFT should continue to grow.

There are three ways to acquire SFX, mining, purchasing outright or as rewards from staking SFT. And in the works will be the release of wrapped SFX which will enable greater liquidity and will subsequently make it easier for anyone to conduct business on the Safex marketplace. This should further help drive the value of SFT higher and higher.

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#7

yes, not much news about SFT value & use - after all many here exchanged Fiat for SFT (back then simply Safex/SFX) many years ago

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#8

SFT has three uses, essentially:

  1. SFT is needed to create an account on The World Marketplace, i.e. twminc
  2. Use SFT for staking on twminc to earn SFX passively.
  3. Hold SFT as a store of value.

The price of SFT will remain low until there is active commerce on the marketplace. SFX is the currency of the marketplace so as the price of SFX rises so too should the price of SFT. That is the hope anyway.

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#9

Sweet

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