[Ann] Safecoin maidsafecoin - page 29.

hmmmstrange

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Quote from: RawDog on April 21, 2014, 04:21:18 PM

On MasterXchange there is currently an offer of 400 MSC for .17. I find this strange.

Tomorrow one will be able to buy MaidSafe for either BTC or MSC.
Since the rate is fixed, you will pay either 1/17000 BTC or 1/3400MSC per MaidSafeCoin.

So, if you want to save money you can buy the underpriced MSC now @ .17 and spend them tomorrow to buy MaidSafe to profit 400*.03 or 12 MSC. That is about equal to $1000.

Why are people leaving $1,000 on the table? It seems to me there is a 100% chance of the event occurring as planned. In that case, MSC should be priced at about .1999999 today. However, it is still sitting way down at .17. That is a very curious discrepancy.

Got any idea why this is happening?

I suspect there are some very uninformed msc holders.

r3animation

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Quote from: hmmmstrange on April 21, 2014, 04:04:07 PM

Quote from: kripto on April 21, 2014, 03:57:03 PM

Quote from: r3animation on April 21, 2014, 03:12:02 PM

But I think they need to include a hard cap.

Isn't there a cap of 4.3 billion safecoins?

Quote

The sale event will run until ten percent of all safecoins (429,496,729) are sold or 30 days have passed, which ever happens first.

Total safecoins will be ~4.3 billion

Sorry my bad, I must have skipped over it somehow....

RawDog

legendary

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On MasterXchange there is currently an offer of 400 MSC for .17. I find this strange.

Tomorrow one will be able to buy MaidSafe for either BTC or MSC.
Since the rate is fixed, you will pay either 1/17000 BTC or 1/3400MSC per MaidSafeCoin.

So, if you want to save money you can buy the underpriced MSC now @ .17 and spend them tomorrow to buy MaidSafe to profit 400*.03 or 12 MSC. That is about equal to $1000.

Why are people leaving $1,000 on the table? It seems to me there is a 100% chance of the event occurring as planned. In that case, MSC should be priced at about .1999999 today. However, it is still sitting way down at .17. That is a very curious discrepancy.

Got any idea why this is happening?

hmmmstrange

hero member

Activity: 669

Merit: 500

Quote from: kripto on April 21, 2014, 03:57:03 PM

Quote from: r3animation on April 21, 2014, 03:12:02 PM

But I think they need to include a hard cap.

Isn't there a cap of 4.3 billion safecoins?

Quote

The sale event will run until ten percent of all safecoins (429,496,729) are sold or 30 days have passed, which ever happens first.

Total safecoins will be ~4.3 billion

kripto

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Merit: 10

Quote from: r3animation on April 21, 2014, 03:12:02 PM

But I think they need to include a hard cap.

Isn't there a cap of 4.3 billion safecoins?

r3animation

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Activity: 756

Merit: 500

I'll probably invest a few MSC for this crowdsale as I like the the ideas behind it. (eg. Curecoin)

But I think they need to include a hard cap.

clout

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In regards to you latter point. No the two are not that same. Bitcoin and maidsafe are too different models. You do not use bitcoins in order to use the bitcoin networks. There is no difficulty adjustment as far as I know, so the increase in safecoins would have to be exponential not logarithmic. That is a hyper inflationary model.

BitSwe

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Quote from: clout on April 21, 2014, 02:09:08 PM

Quote from: prophetx on April 21, 2014, 09:42:45 AM

Quote from: clout on April 21, 2014, 04:29:46 AM

Quote from: prophetx on April 21, 2014, 04:22:43 AM

Quote from: clout on April 21, 2014, 04:10:05 AM

can you guys at maidsafe explain how safecoin can appreciate in value if it is constantly being diluted through the por mining process?

it's basically the same as with bitcoin. bitcoin is being constantly diluted however the more people use the network, the more valuable it gets

its not like bitcoin. its a not a scarce resource. the more ppl connect to the network the more safecoin there are. you don't have to go on an exchange to buy safecoin. as long as the resources you offer the network are more than the resources you take from the network your use of the network is free.

there is a limited number of safecoins. that means it is scarce.

Quote

It is proposed that safecoin will have a predictable cap (232) with a value that is determined solely by the market. Safecoin will be a virtual currency with SAFE being used to complete transactions.

There is no hard set cap on safecoin as there is with bitcoin. I don't approve of bitcoins inflationary model so I find it hard to approve of safecoins hyper inflationary model, determined by moores law. The number of safecoins is correlated with moores law and the value of safecoins is thereby correlated with the cost of resources which will continue to decline.

You have to understand this from a pragmatic perspective. Why would I ever pay for this service when I can simply offer the network more resources than I can use. Safecoins are not the same as investing in a companies equity, because companies do not continually dilute the shares in the company. Safecoins are more a way to account for and economize resource on the network. You can only loose money by holding on to safecoin. The price of safecoin will never be determined by the market per se because no one ever has to purchase safecoin as long as they provide more resources than they consume.

I agree with that the "predictable cap" is not a good sign, I'd like a hard cap more.

Quote from: clout on April 21, 2014, 02:09:08 PM

because no one ever has to purchase safecoin as long as they provide more resources than they consume

Is not this same thing as "noone will ever purchase bitcoins, as long as they mine more bitcoins than they consume" ?

clout

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Merit: 100

I implore everyone to look at the economics of the maidsafe/safecoin model and understand that it is not possible for the price of safecoin to appreciate over time. It is in everyone's best interests - mastercoin, maidsafe, and investors - that this ipo does not proceed. It is going to cause a huge debacle and may constitute a set back for both development teams. I do not want to see either of these teams fail, but this is a step in the wrong direction.

clout

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Activity: 207

Merit: 100

Quote from: prophetx on April 21, 2014, 09:42:45 AM

Quote from: clout on April 21, 2014, 04:29:46 AM

Quote from: prophetx on April 21, 2014, 04:22:43 AM

Quote from: clout on April 21, 2014, 04:10:05 AM

can you guys at maidsafe explain how safecoin can appreciate in value if it is constantly being diluted through the por mining process?

it's basically the same as with bitcoin. bitcoin is being constantly diluted however the more people use the network, the more valuable it gets

its not like bitcoin. its a not a scarce resource. the more ppl connect to the network the more safecoin there are. you don't have to go on an exchange to buy safecoin. as long as the resources you offer the network are more than the resources you take from the network your use of the network is free.

there is a limited number of safecoins. that means it is scarce.

Quote

It is proposed that safecoin will have a predictable cap (232) with a value that is determined solely by the market. Safecoin will be a virtual currency with SAFE being used to complete transactions.

There is no hard set cap on safecoin as there is with bitcoin. I don't approve of bitcoins inflationary model so I find it hard to approve of safecoins hyper inflationary model, determined by moores law. The number of safecoins is correlated with moores law and the value of safecoins is thereby correlated with the cost of resources which will continue to decline.

You have to understand this from a pragmatic perspective. Why would I ever pay for this service when I can simply offer the network more resources than I can use. Safecoins are not the same as investing in a companies equity, because companies do not continually dilute the shares in the company. Safecoins are more a way to account for and economize resource on the network. You can only loose money by holding on to safecoin. The price of safecoin will never be determined by the market per se because no one ever has to purchase safecoin as long as they provide more resources than they consume.

Chang Hum

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Merit: 502

Quote from: zyxxer on April 21, 2014, 01:55:32 PM

Can someone ELI5 why MSC are used at all for funding (as opposed to BTC only) and what MaidSafe will do with them (sell them off at a later stage as a funding source, same as the BTC they raise?)?

Don't get me wrong, I am excited to see that MSC can be used here, just trying to understand. Thanks.

Go somewhere else and troll

zyxxer

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Activity: 9

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Can someone ELI5 why MSC are used at all for funding (as opposed to BTC only) and what MaidSafe will do with them (sell them off at a later stage as a funding source, same as the BTC they raise?)?

Don't get me wrong, I am excited to see that MSC can be used here, just trying to understand. Thanks.

Chang Hum

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Activity: 714

Merit: 502

Quote from: zyxxer on April 21, 2014, 11:40:49 AM

Safecoin looks like a great thing, however, is anyone aware of a site that describes a) where there are in terms of coding, b) when they plan to roll stuff out? Is there any forum where the devs reply to questions?

I mean with a proposed valuation of ~ 10mm / 10% = 100mm USD, one would surely like to have some more info. Thanks.

https://groups.google.com/forum/#!forum/maidsafe-development, That valuations a bit unfair as the $90 million are only going into farmers pockets (people on the network that provide the disk space) over the next 10 years.

zyxxer

newbie

Activity: 9

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Safecoin looks like a great thing, however, is anyone aware of a site that describes a) where there are in terms of coding, b) when they plan to roll stuff out? Is there any forum where the devs reply to questions?

I mean with a proposed valuation of ~ 10mm / 10% = 100mm USD, one would surely like to have some more info. Thanks.

Chang Hum

hero member

Activity: 714

Merit: 502

Quote from: Sharecoin11234 on April 21, 2014, 10:17:56 AM

WHY NOT IN A POS MODEL?

Because the enitre business model of Maidsafe (the business these tokens are being used in conjunction with) is based on the sharing of resources!! check out the website links!

Sharecoin11234

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WHY NOT IN A POS MODEL?

Chang Hum

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Activity: 714

Merit: 502

Quote from: RawDog on April 21, 2014, 10:01:43 AM

Quote from: Chang Hum on April 20, 2014, 04:05:58 PM

As long as maidsafe don't agree with me that the whole thing makes no sense I may as well buy back in myself!

Holy shit! You are a slow learner. Did you want to give me an apology too? ...now that you are back in.

Listen, these MasterProtocol guys are REALLY careful and honest. JR is about the most honest straightforward guy I 've met in Crypto. He really cares to do things well. Johnson is similarly a very straight shooter. If you want to find a scam, don't bother looking here. These guys are serious for the very long term. They are building some complex shit. Not perfect yet, but it will have some serious performance one day and today these smart properties are a little less than perfectly organized. However, sham is not in their methodology.

No why would I you're a fucking retard, only read first line can imagine the rest

RawDog

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Quote from: Panpan66L on April 21, 2014, 07:12:44 AM

I had read the Whitepapers. This system is amazing! I will funding it!

Yep, same for me. It is an incredible idea. Might take a few years to get running well, but is sure is cool. I am all in. I can't get any more cheap MSC to send, but I'll take anything less than .2 to buy in deeper.

RawDog

legendary

Activity: 1596

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Quote from: Chang Hum on April 20, 2014, 04:05:58 PM

As long as maidsafe don't agree with me that the whole thing makes no sense I may as well buy back in myself!

Holy shit! You are a slow learner. Did you want to give me an apology too? ...now that you are back in.

Listen, these MasterProtocol guys are REALLY careful and honest. JR is about the most honest straightforward guy I 've met in Crypto. He really cares to do things well. Johnson is similarly a very straight shooter. If you want to find a scam, don't bother looking here. These guys are serious for the very long term. They are building some complex shit. Not perfect yet, but it will have some serious performance one day and today these smart properties are a little less than perfectly organized. However, sham is not in their methodology.

prophetx

legendary

Activity: 1666

Merit: 1010

he who has the gold makes the rules

Quote from: clout on April 21, 2014, 04:29:46 AM

Quote from: prophetx on April 21, 2014, 04:22:43 AM

Quote from: clout on April 21, 2014, 04:10:05 AM

can you guys at maidsafe explain how safecoin can appreciate in value if it is constantly being diluted through the por mining process?

it's basically the same as with bitcoin. bitcoin is being constantly diluted however the more people use the network, the more valuable it gets

its not like bitcoin. its a not a scarce resource. the more ppl connect to the network the more safecoin there are. you don't have to go on an exchange to buy safecoin. as long as the resources you offer the network are more than the resources you take from the network your use of the network is free.

there is a limited number of safecoins. that means it is scarce.

Topic: [Ann] Safecoin maidsafecoin - page 29. (Read 76678 times)