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Author Topic: Maidsafe  (Read 9053 times)
removebeforeflight
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April 21, 2014, 10:18:43 PM
 #1

How come nobody's talking about this? http://maidsafe.net
Looks like one of the most innovative uses of
the blockchain concept since bitcoin itself. After
all it's it just about the money ;-)
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April 21, 2014, 10:19:42 PM
 #2

How come nobody's talking about this?
Looks like one of the most innovative uses of
the blockchain concept since bitcoin itself. After
all it's it just about the money ;-)


I do not know of what you are speaking.
Please, explain.

removebeforeflight
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April 21, 2014, 10:22:26 PM
 #3

Proof of storage. Just added url.
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April 22, 2014, 01:15:19 AM
 #4

Ipo is too expensive and they are manipulate the market. The latter one makes people whether this project is just a scam in order to pump MSC.

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April 22, 2014, 02:21:30 AM
 #5

I guess these guys have never heard of FreeNet.
ohh Hello, they have been around since 2001 i think...

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April 22, 2014, 04:37:00 AM
 #6

Then how come no one is talking about freenet

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April 22, 2014, 05:19:09 AM
 #7

I am trying to figure out if spending Bitcoin to buy Safecoin is a good idea or not.  They say there is going to be a grand total of roughly 4.3 billion Safecoin.  Right now they are offering 17,000 of them for 1 Bitcoin. 

4,300,000,000/17,000 = 252,941

So for 1 Bitcoin out of 21 million Bitcoins you can have the equivalent of 1 Safecoin out of 252,941 Safecoins.  So what is a Safecoin?  Is it actually a partial ownership in the "company"?  The "company's" value will be the total value of all Safecoins?  So for 1 Bitcoin *$500 right now* I could own 1/250,000th of a company that could potentially be worth unfathomably more than that?  That sounds like a decent bet, I might take them up on it, but only if I am understanding it correctly.  Am I understanding it correctly?

I am also curious, how powerful are their patents?  With Bitcoin no patents are involved, so anybody can pretty much copy any/all of it, so a bajillion competitors could pop up and do the same thing, or even do it better, which is one of the inherent risks with Bitcoin.  Will the Maidsafe patents make it invulernable to this risk?  Even with the patents, could other people still copy it anyways?  How enforceable are the patents?

Anybody help me understand this?
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April 22, 2014, 05:40:30 AM
 #8

Bitcoin has a high value because of its network of miners (which provide security), merchants, exchanges, wallet solutions, community, reputation, history, and other intangibles. 

Many altcoins piggyback off of bitcoin's code but only have a tiny fraction of its value because they lack those qualities.

In the world of cryptocurrency, bitcoin is the undisputed champ, and the most solid investment.

As for maidsafe, I haven't investigated it.  If bitcoin is considered risky by traditional standards, then maidsafe doubly so.

I don't invest in altcoins.  Some do, though.  If you really believe in the innovation and predict it will adopted and rise in value, go for it.

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April 22, 2014, 06:14:53 AM
 #9

I am trying to figure out if spending Bitcoin to buy Safecoin is a good idea or not.  They say there is going to be a grand total of roughly 4.3 billion Safecoin.  Right now they are offering 17,000 of them for 1 Bitcoin. 

4,300,000,000/17,000 = 252,941

So for 1 Bitcoin out of 21 million Bitcoins you can have the equivalent of 1 Safecoin out of 252,941 Safecoins.  So what is a Safecoin?  Is it actually a partial ownership in the "company"?  The "company's" value will be the total value of all Safecoins?  So for 1 Bitcoin *$500 right now* I could own 1/250,000th of a company that could potentially be worth unfathomably more than that?  That sounds like a decent bet, I might take them up on it, but only if I am understanding it correctly.  Am I understanding it correctly?

I am also curious, how powerful are their patents?  With Bitcoin no patents are involved, so anybody can pretty much copy any/all of it, so a bajillion competitors could pop up and do the same thing, or even do it better, which is one of the inherent risks with Bitcoin.  Will the Maidsafe patents make it invulernable to this risk?  Even with the patents, could other people still copy it anyways?  How enforceable are the patents?

Anybody help me understand this?


There are definitely some unique distinctions with Maidsafe as opposed to Freenet with its proof or resource incentive's but the valuation seems high at 126 million for a new company without any guarantees on profitability or future acceptance.

4,300,000,000/17,000 = 252,941 x 500USD = 126,470,500.

Very risky.

Looks like they are using a combination of opensource GPL3 with releasing some software under their own commercial license - http://maidsafe.net/licenses/LICENSE.txt and charging for profit company's 1% as well as a means of future revenue generation.

The risk I would suggest as an investor is the opensource code being forked onto a bitcoin side-chain where there is no IPO buy in of 10%(possibly more with bonus structure??) and 15 % allocated for developers (I'm assuming they will control these funds too?).

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April 22, 2014, 06:58:49 AM
 #10

Maybe because the name is pretty dumb. Can you imagine if the next version of the Internet had the word "maid" as part of its name?
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April 22, 2014, 07:01:05 AM
 #11

This thread will probably be relocated by the forum administrators.

MaidSafe is about encrypting the whole Internet in such a way that your password never leaves your computer,

decentralizing the Internet by eliminating the need for the 13 root servers worldwide,

letting average people donate bandwidth and disk space to make up for the loss of the 13 root servers,

paying the donators in Safecoins,

splitting data up (chunking) in such a way that there is no centralized "place" for websites or even longer emails,

yet letting you control your whole chunked website and Internet info via passwords, etc.,

allowing free apps to be built on top of the MaidSafe protocol, like a new Youtube, Facebook, Dropbox, etc.,

accepting payment only when your apps make money,

on your honor for the payment.

Personally, while I intend to invest, they have received several $million already, but they do not have any of their REAL program/protocol available yet. And all that in 8 years. With the advent of MaidSafecoin (precursor to Safecoin), they will receive several more $millions in value. Until we see results in some form of protocol, they don't seem to have anything of value outside of the idea and the patents. So, I DO have question.

This is something like any investment. One never knows about a penny stock, but many of us invest anyway. MaidSafe will be entirely separate from Bitcoin, and is somewhat different from anything else out there. Yet it has aspects of all the others. Investing in Bitcoin in the early days was a risk. Many people still think Bitcoin is a scam.

MaidSafe is claiming that the patents don't limit anyone from building and using the protocol on their own. In fact, they seem to be encouraging others to do it and to do it better. The patents are only there so that nobody else can patent it and use the patents to stop MaidSafe.

Correct me if I am wrong.

Smiley
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April 22, 2014, 07:14:44 AM
 #12

This thread will probably be relocated by the forum administrators.

MaidSafe is about encrypting the whole Internet in such a way that your password never leaves your computer,

decentralizing the Internet by eliminating the need for the 13 root servers worldwide,

letting average people donate bandwidth and disk space to make up for the loss of the 13 root servers,

paying the donators in Safecoins,

splitting data up (chunking) in such a way that there is no centralized "place" for websites or even longer emails,

yet letting you control your whole chunked website and Internet info via passwords, etc.,

allowing free apps to be built on top of the MaidSafe protocol, like a new Youtube, Facebook, Dropbox, etc.,

accepting payment only when your apps make money,

on your honor for the payment.

Personally, while I intend to invest, they have received several $million already, but they do not have any of their REAL program/protocol available yet. And all that in 8 years. With the advent of MaidSafecoin (precursor to Safecoin), they will receive several more $millions in value. Until we see results in some form of protocol, they don't seem to have anything of value outside of the idea and the patents. So, I DO have question.

This is something like any investment. One never knows about a penny stock, but many of us invest anyway. MaidSafe will be entirely separate from Bitcoin, and is somewhat different from anything else out there. Yet it has aspects of all the others. Investing in Bitcoin in the early days was a risk. Many people still think Bitcoin is a scam.

MaidSafe is claiming that the patents don't limit anyone from building and using the protocol on their own. In fact, they seem to be encouraging others to do it and to do it better. The patents are only there so that nobody else can patent it and use the patents to stop MaidSafe.

Correct me if I am wrong.

Smiley

You are correct, some of the patents cover some bitcoin related parts (possibly) and help protect that too, we are in talks with CODA about an IP pool to protect all decentralised apps. It's important in today's world any advances are not closed down with some patent trolls. It can happen and we have to ensure we are all SAFE (sorry).  None of the sale is founders shares, proceeds will actually be used to create competitors to MaidSafe itself, which is unusual but very important we feel.
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April 22, 2014, 08:04:51 AM
 #13

So I'm on http://www.buysafecoins.com/ with my bitcoins ready to invest but there's no btc address  Grin
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April 22, 2014, 08:05:20 AM
 #14

Then how come no one is talking about freenet

Rule number 1 : Never talk about freenet
Rule number 2 : Never talk about freenet
Rule number 3 : Never talk about freenet


Here's my bag so you don't ask : Bitcoin, tenX, iexec, byteball and pepecash
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April 22, 2014, 08:47:31 AM
 #15

So I'm on http://www.buysafecoins.com/ with my bitcoins ready to invest but there's no btc address  Grin

It is: 1KHfLixa2idRnZXMUfEisBati1vpywaH6E

Verify on the website before sending.

http://www.bitpools.com
Pool your bitcoins with others. Vote on solutions using the Bitcoin blockchain. Keep your bitcoins in your cold storage until you find a solution you like.
Links and Reviews of useful every day places to spend bitcoins: https://bitcointalk.org/index.php?topic=943143.0
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April 22, 2014, 08:58:32 AM
 #16

For the people that don't understand, it is very likely to be a scam :

The idea of paying for a decentralized peer-to-peer Internet is totally contradictory. If you get money to run nodes, then you'll inevitably end up with centralised nodes !

The fact that this copy of freenet omit to quote freenet and claim to be a new idea is the proof that MaidSafe is highly dodgy.

It could also be a manipulation to pump the price of MasterCoin up as the price per MSC is fixed.

Here's my bag so you don't ask : Bitcoin, tenX, iexec, byteball and pepecash
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April 22, 2014, 09:22:21 AM
 #17

For the people that don't understand, it is very likely to be a scam :

The idea of paying for a decentralized peer-to-peer Internet is totally contradictory. If you get money to run nodes, then you'll inevitably end up with centralised nodes !

The fact that this copy of freenet omit to quote freenet and claim to be a new idea is the proof that MaidSafe is highly dodgy.

It could also be a manipulation to pump the price of MasterCoin up as the price per MSC is fixed.


While it may well be a scam, it is possible to be decentralized because of the chunking, and the passwords being located only on your computer. In addition, it is unlikely that all the nodes will wind up in some central area. While many of the nodes might be centralized, the whole thing will be located on many times the 13 root servers. Parts of it will always be located on lots of little home computers located all over the place. Will the centralizing that will inevitably happen be enough to overcome the separate nodes of all the little home computers? Even if it is, there should be enough to keep the Internet decentralized. And because of the chunking, the only advantage that the centralization might have is to be a complete on/off switch, rather than a blocking of particular websites or email services.

Smiley
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April 22, 2014, 09:39:09 AM
 #18

So I'm on http://www.buysafecoins.com/ with my bitcoins ready to invest but there's no btc address  Grin

It is: 1KHfLixa2idRnZXMUfEisBati1vpywaH6E

Verify on the website before sending.

Thanks! Yep I sent my btc in maybe 5 minutes after the address went up- it was at $80,000 then now its over $1,050,000 0_0
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April 22, 2014, 09:44:10 AM
 #19

Maidsafe is an interesting project. I think it will excel in an area where freenet fails: Accessibility and usability. Installing and configuring freenet is a quirky process. Also maidsafe provides a more flexible and generalized platform for applications than freenet.

Of course a good idea is not necessarily a good investment. A the moment without a finished product valuation seems rather ambitious.


ya.ya.yo!
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April 22, 2014, 09:51:07 AM
 #20

For the people that don't understand, it is very likely to be a scam :
The idea of paying for a decentralized peer-to-peer Internet is totally contradictory. If you get money to run nodes, then you'll inevitably end up with centralised nodes !
The fact that this copy of freenet omit to quote freenet and claim to be a new idea is the proof that MaidSafe is highly dodgy.
It could also be a manipulation to pump the price of MasterCoin up as the price per MSC is fixed.
While it may well be a scam, it is possible to be decentralized because of the chunking, and the passwords being located only on your computer. In addition, it is unlikely that all the nodes will wind up in some central area. While many of the nodes might be centralized, the whole thing will be located on many times the 13 root servers. Parts of it will always be located on lots of little home computers located all over the place. Will the centralizing that will inevitably happen be enough to overcome the separate nodes of all the little home computers? Even if it is, there should be enough to keep the Internet decentralized. And because of the chunking, the only advantage that the centralization might have is to be a complete on/off switch, rather than a blocking of particular websites or email services.
Smiley

As the network will become centralised, it will be possible to know which chunk come from where and maybe access some data.
Also data could be simply deleted and lost.
Any network involving cryptocurrency become centralised because of the competition for money.

I've just seen this :
The MaidSafe Foundation, a registered charity, actually own the patents.
In order to use MaidSafe, you have to trust The MaidSafe Foundation who is simply the MaidSafe staff.

It is against the idea of decentralized and free Internet. MaidSafe aim to replace Internet by making it centralised. This is absurd.
MaidSafe will have access to your data any time, will be able to sell it and I think they will do as they are greedy as hell.

Here's my bag so you don't ask : Bitcoin, tenX, iexec, byteball and pepecash
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