Been listening to SAFE Crossroads podcasts. Great info.
And more questions have arisen. I understand the basics of Safecoins and how they will function in their non-blockchain system. A closed loop system, where the coins, as spent in the network are destroyed (buried) and then reused -- issued to the vaults for their sharing of cloud space, so to say.
When MaidSafe goes live and I, for example, can trade my MaidSafeCoins in for Safecoins (1 to 1), but how are they purchased after that?
I know that exchanges should arise, but then aren't we back to the OldNet v. NewNet question again -- as I mentioned in my last post?
In other words, if I decide to buy some Safecoins, could I send money from my bank account to the non-profit arm of MaidSafe? Doubtful. Audits would compromise my privacy.
How could I then buy Safecoins and maintain my privacy? Use Monero?
And back to the 1 on 1 trade of MAID's for future Safecoins. How will that be accomplished in a way that will maintain user privacy?
I also understand the censorship angle -- that MaidSafe should be able to stop that -- but how will we be able to maintain a semblance of monetary privacy as we conduct business in network? Example: I order a pizza online with Safecoin. The Pizza Company will report that I used say, 20 Safecoins to buy that pizza (pie).
My country (USA) also has me report foreign bank accounts in some cases. MaidSafe is not a bank, but recent and numerous reinterpretations of cryptocurrency, might require me to report my holdings or face fines etc.
On top of all of this, once and if MaidSafe becomes popular, what is to stop governments from pressuring the public companies in control of the system to fork over information that could somehow compromise the network?
Or will the network be immutable, but then how will it be updated, without the possibility of becoming compromised?
Someone has the keys to the system and that someone is human, right? Publicly identified?
Does MaidSafe have a backup plan with anonymous devs and some kind of checks and balances system, to keep the ball rolling, if the pressure is exerted by regulatory agencies, bent on closing it down?
Just a noob trying to grasp the MaidSafe system...
That's a lot of questions. Have a look at the forum and use the search, a lot of this stuff is answered I think.
https://safenetforum.org/You can buy Safecoin just on an exchange just like you do know. I think several exchanges will do the switch anyway, so you had MAID and they switch to to Safecoin for you. Yes, exchanges are on the old network. Although we might see decentralized ones in the future where you can trade ETH, Bitcoin and Safecoin without going to a centralized system somewhere. Omni had an exchange like that as well.
When you buy a pizza and pay with Safecoin where's the problem? They see coins come in from a random address. you could use a new address for every payment. if you really want to be safe you could make a little account on the SAFE Network using your phone and a big, really secret one at home on your PC. You use 1 for just things like paying for pizza and the other to tip your favorite pornstar without anyone noticing
Governments can't stop SAFE the moment it's out in the wild. Maidsafe is free to program whatever they want. all projects are still out there; TOR, Ethereum, BitTorrent, Freenet and more. Writing code isn't a crime. spreading illegal stuff is. But devs just write code. And they also open source it.