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Offline speedy

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Can we get a BitAsset for Safecoin?
« on: December 24, 2014, 12:31:34 PM »

I have been doing some long overdue reading on Maidsafe, and the ability to pay some Safecoins to host large quantities of data on a decentralized Bitcloud is something that I want to be a part of.

For two reasons I think we should have a BitMaidsafe asset:
-I see Maidsafe being a strong competitor to BitShares (just in terms of market cap).
-I dont yet understand how their wallet system works, and I trust BitAssets because I know I can redeem it later 1:1 for Safecoins. This after all is the point of BitShares - store your savings in anything that you want.

Can we create a BitAsset for Safecoin?

On a side note, I think drltc made a proposal a while back that BitAssets get created when delegates agree on the asset description, without the large fee. How's that going?

Offline Rune

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Re: Can we get a BitAsset for Safecoin?
« Reply #1 on: December 24, 2014, 01:06:39 PM »
You can create any bitasset market if you pay the fee and provide delegates with a price feed script.

I wonder how difficult it will be to copy their system to BTS in the future. The important thing is we can fund the effort through delegates, so if it's profitable we will get it at some point.

Offline mdj

Re: Can we get a BitAsset for Safecoin?
« Reply #2 on: December 24, 2014, 01:11:25 PM »
Great idea - I think it would be great to incorporate Bitshares into the MaidSafe platform in general.
Perhaps we need a paid delegate to to do this alongside writing Bitshares apps for the MaidSafe network.

Offline Rune

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Re: Can we get a BitAsset for Safecoin?
« Reply #3 on: December 24, 2014, 01:24:49 PM »
Great idea - I think it would be great to incorporate Bitshares into the MaidSafe platform in general.
Perhaps we need a paid delegate to to do this alongside writing Bitshares apps for the MaidSafe network.

We want to create our own network that competes with maidsafe and eventually corners their market. We will be able to monetize it much more efficiently and will be able to leverage the network effect from all our other services to kickstart popularity. Our biggest advantage is we can choose whatever model works best from our competitors and copy it. If storj works better, we copy that. If maidsafe works better, we copy that instead. Thus we have to risk a lot less but can still bring the full functionality to our community.

Offline speedy

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Re: Can we get a BitAsset for Safecoin?
« Reply #4 on: December 24, 2014, 04:30:25 PM »
We want to create our own network that competes with maidsafe and eventually corners their market. We will be able to monetize it much more efficiently and will be able to leverage the network effect from all our other services to kickstart popularity.

Why are you so confident? It seems easier for them to copy the idea of BitUSD* than for us to copy decentralized file storage (which David Irvine has been working on since 2006). In terms of market effect, their system will skyrocket when it quickly becomes the go-to place for every bootlegged film & music imaginable.

*I agree that we will obviously get BitUSD onramps up and running first.

I think the best thing to do is to invest in both things. Im just annoyed that I missed out on their crowdfunder stage.
« Last Edit: December 24, 2014, 04:32:07 PM by speedy »

Offline Rune

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Re: Can we get a BitAsset for Safecoin?
« Reply #5 on: December 24, 2014, 04:54:47 PM »
We want to create our own network that competes with maidsafe and eventually corners their market. We will be able to monetize it much more efficiently and will be able to leverage the network effect from all our other services to kickstart popularity.

Why are you so confident? It seems easier for them to copy the idea of BitUSD* than for us to copy decentralized file storage (which David Irvine has been working on since 2006). In terms of market effect, their system will skyrocket when it quickly becomes the go-to place for every bootlegged film & music imaginable.

*I agree that we will obviously get BitUSD onramps up and running first.

I think the best thing to do is to invest in both things. Im just annoyed that I missed out on their crowdfunder stage.

I guess I'm just pretty skeptic at its usefulness in the short term beyond hosting child porn. Market pegged assets has much more potential at kickstarting a huge userbase, that we can then leverage with new blockchain services to create even more value.

Offline luckybit

Re: Can we get a BitAsset for Safecoin?
« Reply #6 on: December 24, 2014, 05:26:57 PM »
I have been doing some long overdue reading on Maidsafe, and the ability to pay some Safecoins to host large quantities of data on a decentralized Bitcloud is something that I want to be a part of.

For two reasons I think we should have a BitMaidsafe asset:
-I see Maidsafe being a strong competitor to BitShares (just in terms of market cap).
-I dont yet understand how their wallet system works, and I trust BitAssets because I know I can redeem it later 1:1 for Safecoins. This after all is the point of BitShares - store your savings in anything that you want.

Can we create a BitAsset for Safecoin?

On a side note, I think drltc made a proposal a while back that BitAssets get created when delegates agree on the asset description, without the large fee. How's that going?

We need one for Storj also.
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Offline matt608

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Re: Can we get a BitAsset for Safecoin?
« Reply #7 on: December 24, 2014, 05:52:01 PM »
We want to create our own network that competes with maidsafe and eventually corners their market. We will be able to monetize it much more efficiently and will be able to leverage the network effect from all our other services to kickstart popularity.

Why are you so confident? It seems easier for them to copy the idea of BitUSD* than for us to copy decentralized file storage (which David Irvine has been working on since 2006). In terms of market effect, their system will skyrocket when it quickly becomes the go-to place for every bootlegged film & music imaginable.

*I agree that we will obviously get BitUSD onramps up and running first.

I think the best thing to do is to invest in both things. Im just annoyed that I missed out on their crowdfunder stage.

I guess I'm just pretty skeptic at its usefulness in the short term beyond hosting child porn. Market pegged assets has much more potential at kickstarting a huge userbase, that we can then leverage with new blockchain services to create even more value.

I'm not so sure BitShares is competing in the same space, from my non-technical understanding you can't build the Internet on a blockchain.  Maidsafe will be so much more than a place for darknet stuff.  It's a secure version of the Internet.   There will be a secure facebook alternative and a secure version of every type of site that currently exists.  Imagine a having a site that can't be censored, shut down or traced to your identity.  It will be an explosion of free speech.  Companies will want to use it to protect themselves from corporate espionage.  Individuals will want to use it to protect their personal freedom.  I've wondered if BitShares community communication should be done on a Maidesafe app/site.  As much as possible should be done in-house clearly, but what BitShares can't do, could spill over into Maidsafe.  The delegate profiles/social network I heard rumblings about perhaps could go on Maidsafe.  Could delegates be hosted on maidsafe?  That could increase BitShares network security.

All BitShares communication should take place on a secure platform as soon as possible.  Maidsafe stands for freedom of the Internet, freedom of speech.  BitShares, if I may be so bold, stands for these same things with a special focus on free trade.  We are natural ideological partners with Maidsafe.  Maidsafe has a good brand image (in my mind).  BitShares could benefit from leading by example and working with all the freedom-tools available.

Disclaimer:  I'm a fan of Maidsafe and own a small amount (relative to my BTS) of Maidsafecoin. 

As for a Maidsafe bitasset, I've no opinion, not sure if there's enough demand.

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Re: Can we get a BitAsset for Safecoin?
« Reply #8 on: December 24, 2014, 06:42:17 PM »
It is imperative that we create these markets. We can easily get more trading volume in BitSafecoin and BitStrojcoin than there is in their underlying assets.

Offline mdj

Re: Can we get a BitAsset for Safecoin?
« Reply #9 on: December 24, 2014, 07:02:02 PM »
We want to create our own network that competes with maidsafe and eventually corners their market. We will be able to monetize it much more efficiently and will be able to leverage the network effect from all our other services to kickstart popularity.

Why are you so confident? It seems easier for them to copy the idea of BitUSD* than for us to copy decentralized file storage (which David Irvine has been working on since 2006). In terms of market effect, their system will skyrocket when it quickly becomes the go-to place for every bootlegged film & music imaginable.

*I agree that we will obviously get BitUSD onramps up and running first.

I think the best thing to do is to invest in both things. Im just annoyed that I missed out on their crowdfunder stage.

You're not wrong. Maidsafe will probably completely replace TOR, silk roadesque sites, Torrenting etc if successful.
I still see a place for both Maidsafe and Bitshares though.

The "competitors" mentality does annoy me though - we should all be combining forces to meet a common goal.

Offline islandking

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Re: Can we get a BitAsset for Safecoin?
« Reply #10 on: December 24, 2014, 07:04:03 PM »
We want to create our own network that competes with maidsafe and eventually corners their market. We will be able to monetize it much more efficiently and will be able to leverage the network effect from all our other services to kickstart popularity.

Why are you so confident? It seems easier for them to copy the idea of BitUSD* than for us to copy decentralized file storage (which David Irvine has been working on since 2006). In terms of market effect, their system will skyrocket when it quickly becomes the go-to place for every bootlegged film & music imaginable.

*I agree that we will obviously get BitUSD onramps up and running first.

I think the best thing to do is to invest in both things. Im just annoyed that I missed out on their crowdfunder stage.

I guess I'm just pretty skeptic at its usefulness in the short term beyond hosting child porn. Market pegged assets has much more potential at kickstarting a huge userbase, that we can then leverage with new blockchain services to create even more value.

I'm not so sure BitShares is competing in the same space, from my non-technical understanding you can't build the Internet on a blockchain.  Maidsafe will be so much more than a place for darknet stuff.  It's a secure version of the Internet.   There will be a secure facebook alternative and a secure version of every type of site that currently exists.  Imagine a having a site that can't be censored, shut down or traced to your identity.  It will be an explosion of free speech.  Companies will want to use it to protect themselves from corporate espionage.  Individuals will want to use it to protect their personal freedom.  I've wondered if BitShares community communication should be done on a Maidesafe app/site.  As much as possible should be done in-house clearly, but what BitShares can't do, could spill over into Maidsafe.  The delegate profiles/social network I heard rumblings about perhaps could go on Maidsafe.  Could delegates be hosted on maidsafe?  That could increase BitShares network security.

All BitShares communication should take place on a secure platform as soon as possible.  Maidsafe stands for freedom of the Internet, freedom of speech.  BitShares, if I may be so bold, stands for these same things with a special focus on free trade.  We are natural ideological partners with Maidsafe.  Maidsafe has a good brand image (in my mind).  BitShares could benefit from leading by example and working with all the freedom-tools available.

Disclaimer:  I'm a fan of Maidsafe and own a small amount (relative to my BTS) of Maidsafecoin. 

As for a Maidsafe bitasset, I've no opinion, not sure if there's enough demand.

Isn't that what Bitshares DNS is supposed to offer? A decentralized internet?
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Offline matt608

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Re: Can we get a BitAsset for Safecoin?
« Reply #11 on: December 24, 2014, 07:05:44 PM »


Isn't that what Bitshares DNS is supposed to offer? A decentralized internet?

Not sure, I've not looked into BitShares DNS much yet.  Should do that...

Offline gamey

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Re: Can we get a BitAsset for Safecoin?
« Reply #12 on: December 24, 2014, 07:34:58 PM »

It is interesting how much their marketcap moves on such low volume.  I've considered buying some maidsafe.  The thing is their message is just so simple and it appeals to geeks in a unique way.  Safecoin does something not being done.

I am more concerned their scope is too large and they run out of monies and thus steam.  They promise so much I don't know they can deliver.
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Offline Rune

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Re: Can we get a BitAsset for Safecoin?
« Reply #13 on: December 24, 2014, 07:38:52 PM »
Quote
Imagine a having a site that can't be censored, shut down or traced to your identity.

Really can't think of anything other than child porn and drugs.

Wikileaks already exists on the clearnet without any problem so I can't see how Maidsafe will cause an explosion of free speech. The internet will be completely remade in the long term, but it's at least a decade off before it becomes big business for anything other than dark markets (and there will still be orders of magnitude more money in getting the dark markets to use bitUSD rather than getting them to use new infrastructure for hosting).

It's an interesting and ambitious project, but I don't think its a competitor or threat to us. How many of the current owners of Maidsafecoin have bought them to actually use them, as opposed to sell them at a higher price?

sumantso

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Re: Can we get a BitAsset for Safecoin?
« Reply #14 on: December 24, 2014, 07:44:23 PM »
It's an interesting and ambitious project, but I don't think its a competitor or threat to us. How many of the current owners of Maidsafecoin have bought them to actually use them, as opposed to sell them at a higher price?

During the botched Maidsafe IPO, BM mentioned something like having an idea regarding the same aim, but with a good economic model. Once Bitshares reaches some maturity maybe he will have a stab at it (and sharedrop 100% on BTS ;D)

 

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