Bitcoin Forum

Thoughts?

blocknet was a scam by prometheus pump and dump group as far as anyone knows.

Etherium is shady with their 'we might not even finish our project with your 20k btc investments' written in fine print on their actual contract. Not to mention many serious financial officials have doubts about its viability or vision. It just sounds way too unrealistic or vague.

Maidsafe - not much knowledge in that area. As far as I know, little in the way of scams or scandals such as those above.

Why is not Supernet part of that lineup, out of curiosity?

Personally I'm on MaidSafe. I've been following development fairly closely for the past half year, and it's hard to understand how and why it works if you come from Bitcoin, since it doesn't use a blockchain. For the first few months I was quite skeptical, now I'm convinced the model will work. Over time all my tech questions have been answered on their forums, often by the CEO of MaidSafe, David Irvine. Note that I'm a software engineer and programmer myself (specialized in embedded systems, not in crypto), so that helped a lot in understanding it all.

This is probably a good introduction if want to know more: https://www.maidsafe.org/t/introduction-to-maidsafe-what-it-is-how-it-works-and-how-it-compares-to-bitcoin/2500

I think MaidSafe can attract the masses because it's not just a crypto-currency. It's also a decentralized cloud and a platform for a new, secure decentralized internet. This makes it attractive even to those who have no interest in crypto-currencies.

It also has far more resistance against centralization, since farming SafeCoin is not all about good hardware, but also about location (due to connection latency) and bandwidth. A farmer with crappy hardware will probably be able to serve other users in the same city faster than a farmer with top notch hardware located in another state. Hence every user will be able to farm at least some SafeCoin, and can thus use MaidSafe's services without first having to buy SafeCoin with fiat. Once people have become familiar with them that way, and notice how easy it is to use, they'll be far more likely to buy more SafeCoin with fiat to use them as a currency.

because they haven't seen the light

Sound like three mostly unrelated projects to me. Not sure where the comparison comes in.

3 overly complicated and for decades bugged and soon insignificant because never finished projects? Which is best?

Best is to buy a simple coin like bitcoin which does all it should: be a transactional token

More bells and whistles: more problems, less useability

The one thing i learned in crypto: do not buy promises on later delivery ever

History will prove ethereum to be the ultimate shitcoin.  People couldn't throw their BTC at them fast enough  :D

Fools and their money..

I think most of these big purchases were themselves. Just the normal presale-scam.

Selfbuy presale, get free premine, dump on idiots later

same, same ... seen it many times now.

I think up to 80% of ethereum purchases was maybe fake and them buying their own coins.

Blocknet same story. Maybe maidasfe too.

So the answer would be: all those coins are potential very big scams. I have no idea why i should buy that. I don't.

MaidSafe is currently in Test Net 2, which will be completed the coming week. Test Net 3 will be faster than than Test Net 2, and will likely not take longer than 2 months. After that the BETA, which I think will take 2-3 months, and then Launch:

http://maidsafe.net/roadmap

You can click on the different phases to see completion of individual features.

Anyway, all is open source and it's already possible to take part in the current test nets and use the current features. I've studied the source for a bit and it's very clean with high standards. The accusation of it being bugged for decades and never finished can only come from someone who didn't give MaidSafe a serious look.

a presale scam remains that. Innovation doesn't help you when your initial  distribution was unfair or fraudulent even. Before anyone can buy any of these coins they would need to make incredible research to verify it wasn't a fraud but you will never have proof it was none. So i think a presale actually makes the coin deadborn no matter how nice it is.

I don't care about innovative presale scams. Too high risk, no transparency, big fraud possible. So, no i'm not getting involved with the presale-scams.

You can never/rarely proof  it's a scam and you can absolutely never proof the contrary. So why get involved with your hard earned money? Been scammed enough. Just go away.

I stick to coins with fair and transparent distribution. PERIOD!

Blocknet - no idea.

Ethereum - smart contracts are promising, but they are still confused whether to go mining or some form of PoS.

Maidsafe - doing good work, thouh IMO the economics for the holder may not be the best.

Maidsafe and Ethereum are unrelated and are not competitors. While you're at it, check out Bitshares, which has brought Market Pegged Assets (thus solving the volatility problem in cryptos) among others.

Yet you insist on calling it 'presale-scam'.

Right, you can never prove that it was 100% fair. But first, the pre-sale was of only 10% of the coin cap, and second, this team was working on MaidSafe before Bitcoin existed, and there is plenty of proof of that. Seems a bit far fetched that it'd all be a get-rich-quick scheme. Hell, it's very likely that they didn't even have the BTC/MSC to buy any significant portion of the pre-sale for themselves, since they are not from the Bitcoin community and it's not like they had millions lying around. They were investing all they had in development costs for years.

In addition, 5% of the the coin cap will go to the MaidSafe developers as a compensation for all those years of work on a very tight budget, so they wouldn't need to manipulate the pre-sale to profit from the success of MaidSafe. I don't think that's unfair, but that's of course a matter of opinion. I don't think it's worse than the early Bitcoin adopters sitting on hundreds of thousands of easily mined Bitcoins.

if you like to put trust in people in this business i won't stop you from investing in coins with suspicous high volume on the shady presales.

I'm investing in trustless coins only.

What ever you say doesn't make a difference. If it was any kind of presale which was purchased with cryptocurrency you have to trust there was no selfbuy. I'm too old for that naivity.

go get some super innovative coins dumped on you. Is fun, i promise.

Honestly, it wouldn't really matter if there was a big dump. Unlike practically all crypto-currency projects out here, MaidSafe's usefulness and lifeforce doesn't rest on SafeCoin's value. MaidSafe's digital currency isn't the main feature. The decentralized content network is. It's extremely scalable, secure, efficient and fast. It's a like a combination of Bittorrent and TOR (with some I2P thrown into the mix). It functions as a cloud storage service like dropbox, as a web/app host, and as a (most likely free) decentralized encrypted instant messaging service. And yes, those features are documented in technical details (including multiple peer-reviewed whitepapers for different aspects of the network), actively under development, open source, and nearly finished. I can explain all major parts of it, if anyone's interested.

SafeCoin was originally only there for an integrated exchange of the network's resources. Providing resources (storage, routing, validation) earns you SafeCoin, using resources (mainly storage) costs SafeCoin. SafeCoin's great features as a general purpose crypto-currency are a bonus really. It's only because here we are all from Bitcoin that we focus almost solely on the currency.

A dump would just mean a long period of very cheap SafeCoin. Meanwhile MaidSafe would keep growing because of the network's utility, and when the dump would be absorbed, SafeCoin would simply bounce back.

So bring on that dump, more cheap SafeCoins for me!

these dumps tend to occure on high prices.  ::)

True, so maybe I won't be able to buy tens of thousands of them that cheaply. The point still stands though, MaidSafe's life force isn't bound to SafeCoin's value or stability, so at some point it would bounce back.

One of the interesting aspects of MaidSafe is that when you buy storage from the network, you're not directly paying a storage providing user (farmers). Instead you pay the network itself, which absorbs the SafeCoin. The network rewards farmers over time for providing stored chunks of data on requests from other users. The network will algorithmically determine both storage costs and farming rewards, based on the available storage/used storage ratio.

If SafeCoin's value falls, this will make storage very cheap (and maybe some farmers will go offline since farming is less profitable*), so the network's storage will start filling up. The network will react to this by increasing the SafeCoin price of storage and increasing the farming rewards. That will stop most people from buying more storage space, and will attract more farmers.

When SafeCoin's value suddenly explodes the opposite will happen to the storage ratio and thus to the costs/rewards. This way the network itself creates an equilibrium of supply and demand of the network's resources, regardless of SafeCoin's value swings. Hell, it's even able to deflate the total amount of SafeCoins in circulation by charging somewhat more for storage than issuing to farmers.



*Farmers build up reputation over time, and powering down reduces reputation. Reputation increases farming rewards, so it disincentivizes farmers to go temporarily offline during dips

This article explains the Maidsafe Network and how Safe Coin will work with it.

http://blanshey.com/introduction-to-maidsafe-what-it-is-how-it-works-and-how-it-compares-to-bitcoin/

Read this and then let me know what you think?

All of this are sucks, there is not need these coins.

They are all quite different.

Blocknet is supposed to link up the blockchains of different coins. So if one coin offers a coin mixing service e.g. Xcurrency or DRK, and another coin offers a VPN service then with Blocknet you can use all these different services without needing to own the different coins.

Etherium is some turing complete bullshit.

Maidsafe is meant to be a decentralised internet, with Safecoin being the currency used to power it.

I think they are all good investments. Much better than a copy paste alt coin which offers nothing new over Bitcoin. It's no coincidence the majority of coins in the top 15 by market capitalisation offer advanced features and innovation.

Which is the best investment is impossible to say. Blocknet is absolutely dirt cheap because of the FUD campaign against it. But it's the highest risk. Maidsafe will likely move up to number 2 crypto in the next 2-3 years *if* it can deliver on all of the tech it's promised. I actually think Maidsafe/safecoin has the greatest chance of overtaking Bitcoin's market cap in the next few years of any other coin.

blocknet is a clone of supernet. supernet is much further in development.

so I'm going to assume this is a troll thread by trying to give blocknet some credibility (by name dropping ethereum and maidsafe in the title).

No it's not.

They have similar goals. But the code for each is being written from scratch by two completely different teams. Neither of which is even finished yet.

SuperNet

I don't get why selling ICO coins is considered shady around here, but asking everyone to mine your coin based on a vague road map is somehow fair territory.

As much as people like to blame ICO's for the "death" of alt coins, i've witnessed far more POW scam coins over the last year than ICOs.

Ethereum > Maidsafe

This Blockshitscam is net even worth to mention.

Ethereum is currently at the top, but it mostly depends on what happens after launch. Till then its a bit uncertain.

How can you call something a scam when you can download and test the software?

"The vision is Privacy, Security and Freedom for all of the people of the world."

Who isn't going to support or use software that's main goal is what's stated on the line above?

People will use this software even if it isn't making them "tons of cash" just to be part of the movement. Look at all the people are supporting Tor for free by being relays?

I honestly could care if anybody in this string buys any of this coin but this whole project is a winner in my book.

I missed out on Bitcoin because I was so hesitant in throwing money at a "bad idea" but I will not be missing out on this one.

My understanding is that maidsafe has been around since 2006.  I don't disagree with the mission statement.  I also don't disagree with feeding the poor, killing bad guys, or destroying the company known as Apple.  That doesn't mean whoever uses one of those things as a slogan is going to get my money.  I've seen half a dozen coins claim, try (not very hard) and die.  Not convinced that's what maidsafe is - it just isn't as simple as agreeing with the sales-line somebody throws at you.

Blocknet is a GreatValue brand of SuperNET ripped off by a pump and dump group + a desperate dev.  Both ideas I feel are pretty limited.  I haven't been able to have anyone explain how they're more than an exchange going on behind the scenes.  BlockNET is a scam.  SuperNET is a project to help someone offload a lot of their assets.

Ethereum is an ambitious project.  Some people hate how much money they've raised & feel it's been way over funded.  They've developed much more functional products than any of the other projects mentioned but have had an ongoing beta for almost a year now I think.  Bewarned the developers have awarded themselves ongoing bitcoin salaries + pretty good chunk of ether.  Basically a 4 year premine was sold upfront to fund the project.

They are all trying to do different things.

BlockNET/SuperNET - Decentralized exchange working as a middle man to do stuff with different currencies.  (Send bitcoin to bob using cryptonote technology by buying BBR's behind the scenes / sending them / exchanging them back for bitcoin / delivering to bob).  No volume will limit whatever practical use this might have to useless (IMO)

Maidsafe - Share computing and bandwidth resources between users and incentives by creating a coin that is harvested as you share your resources.

Ethereum - A programming language (that works on it's own blockchain - not bitcoins) to allow more than simple trust mechanisms to be achieved by consensus.  (They market DAPP alot which IMO belongs to Maidsafe more than eth ...)   Think reputation systems, crypto AirBNB/Uber, Decentralized Exchanges, Provably fair gambling, leveraged assets, etc.  Goal here is to have the best toolset possible by far to build these & more.  Who knows how things will go after they release the genesis block - but all beta releases have seemed to be fully functional and do what they say it's going to.  IBM forking their code means that it isn't just a smokescreen.

There is an alternative open source project somewhere recently to allow for a programmable blockchain to be plugged into any altcoin - was it called AT?  Automated Transactions?

Not to be a d*** - but if you're interested read the blogs of each of the websites / projects.  If they don't have blogs read their posts (think jl777 guy always just posts informal stuff so probably have to dig...& then synchest).  Look at who is associated with the projects.  In other words look at these three groups

prometh3us / Dan Metacalf (blocknet)
jl777 (supernet)
Nick Szabo / IBM (ethereum)
Maidsafe (?)

... try to find who is interested in which project.  It will help paint the picture for you.

Quality of reddit groups is also a good way to gauge quality of interest in a project outside of the pump and dump nature of the forums.

Thanks for all the replies. Interesting. I am invested in Blocknet and Maidsafe for the record. 

Really really like this response   8)

I haven't had a chance to delve into the white paper yet, but the idea with Etherium is that it comes with a built-in programming language, so you can embed code into your coin, which in turn is embedded into the blockchain. That makes the coin incredibly versatile.

blocknet never a pump you moron because it never or hardly pass it ipo/ico/ito price

Maidsafe and Ethereum are still on my watchlist
Blocknet never made it to that observation

So from the above two would say Ethereum since they promise a release very damn quickly while Maidsafe is still a ways off for now.

Still waiting for the release of Ethereum . So wouldn't be able to comment on it yet.
As for the others, I am also pretty much unaware about them.

Not much faith in any of them. I would say NEM if it was on the list.