[ANN] IPO of MaidSafe: Entering the Future of the Decentralized Internet

[fezington]

Hello,

I'm not an expert i bought some maid. Somebody can explain me why on maidsafe.net we have this :  Only 4.3 billion coins will ever be in circulation at one time and each will have its own unique identity. Safecoins will be recycled when users exchange them for network services, ensuring there is always a supply for users to earn.

for instance we have this number of coin on CryptoCurrency Market Capitalizations  Circulating Supply
452,552,412 MAID *.   * Not Mineable

With 4.3 billions coins how it will be capitalized.

Regards,

The max amount of SAFEcoin will be 4.3 billion over many years of farming. Maid is not safecoin. You will be able to exchange maid for safecoin in the future. But as of right now the total supply of MAID is 452,552,412-

[1715041683]

1715041683

[1715041683]

1715041683

[1715041683]

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[zeeman]

Hello,

I'm not an expert i bought some maid. Somebody can explain me why on maidsafe.net we have this :  Only 4.3 billion coins will ever be in circulation at one time and each will have its own unique identity. Safecoins will be recycled when users exchange them for network services, ensuring there is always a supply for users to earn.

for instance we have this number of coin on CryptoCurrency Market Capitalizations  Circulating Supply
452,552,412 MAID *.   * Not Mineable

With 4.3 billions coins how it will be capitalized.

Regards,

When you PUT (upload) data to the network you give up some of your Safecoin. That address is now free again and ready to be farmed by someone who delivers data to the network from his Vault. So if 50% of all the coins are mined, 50% of all the Farming Attempts will fail. The group responsible for your Farming Attempt will pick a random address.

[zeeman]

Here's today's update:


https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726


Enjoy!

[Burmik123]

Here's today's update:


https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726


Enjoy!

thanks, interesting. But I have one little question - when will be Alpha-2 release? this spring or summer?

[zeeman]

Here's today's update:


https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726


Enjoy!

thanks, interesting. But I have one little question - when will be Alpha-2 release? this spring or summer?

It's always the ultimate question, when will they release what!  I really can't give an answer to that because I seriously have no idea. In the update they talk about releasing a local network for them to test, that's always good news. One of the devs replied on the forum today that they will provide the SAFE Browser with mock routing as binaries tomorrow:

https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726/44

This is what other devs are waiting for, they already build stuff for themselves on the dev forum (https://forum.safedev.org/t/how-to-build-the-safe-browser-and-upload-a-website-with-mock-vault/625/78) but now they can just start the browser and build and test their apps locally against a fake network.

So in the coming weeks: 1). A testnet locally in Troon  2.) TEST 20 (guess they call it that) for everybody to join  3.) When that's okay Alpha 2.

But there could be bugs/errors/security holes which they fix and release TEST 20b and/or TEST 20c. They could last a week, or only a few days......

This is where it gets very hard to predict. Alpha 2 could be here in 3 weeks, or 6 weeks or 9 weeks if it takes longer than expected. I really have no clue. The good news is that MaidSafe really test their stuff and that external devs can already build apps now. Will be easier tomorrow with binaries release. The most important thing IMO is the real start of the ecosystem. Apps, coins (not Safecoin) going from A to B, chats and more. Really curious what external devs come up with after they waited so long  .   

[jubalix]

Here's today's update:


https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726


Enjoy!

if only they spend as much time coding ad writing updates.

Its come to a point where maid has mired itself in gobbledegook that reads test n+1 to do x

No endpoints clearly articulated.

Eg we will launch on date X.

then do updates.

Essentially they either have an algorithm that works or they don't.

Code an deploy something than can be upgraded later.

EG We will launch on 11 November 2017.

they must at this point be able to make some sort of estimate, or they do not know what they are doing.

This is me calling you out for a delivery date.

[jubalix]

Has anyone considered that they have raised far to much money than is needed. Which in itself will invite problems, corruption or another dao type problem.
How much money is really fair in developing this compared to how much is raised. It will be good to hear balanced understanding.

I may be wrong but I think they burnt through the ICO money and had to do some sort of other  capital raise.

[digi123]

Has anyone considered that they have raised far to much money than is needed. Which in itself will invite problems, corruption or another dao type problem.
How much money is really fair in developing this compared to how much is raised. It will be good to hear balanced understanding.

I may be wrong but I think they burnt through the ICO money and had to do some sort of other  capital raise.

Sorry I posted in the wrong thread this was not ment for maidsafe. Please ignore it and delete if can.

[zeeman]

Here's today's update:


https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726


Enjoy!

if only they spend as much time coding ad writing updates.
Its come to a point where maid has mired itself in gobbledegook that reads test n+1 to do x
No endpoints clearly articulated.
Eg we will launch on date X.
then do updates.
Essentially they either have an algorithm that works or they don't.
Code an deploy something than can be upgraded later.
EG We will launch on 11 November 2017.
they must at this point be able to make some sort of estimate, or they do not know what they are doing.
This is me calling you out for a delivery date.

The SAFE Network is not just an algorithm that works or not. It needs to be able to scale from 100 users to 100 million without a problem. It will also allow for thousands of anonymous transactions without a blockchain. Apart from a lot of other projects MaidSafe always delivers a GUI for Mac, Linux and Windows. SAFE is about registering an anonymous domain on their system, have anonymous downloads, have anonymous coins all with the possibility to log in to a decentralized network. It's quite some new and innovative solution to a lot of problem we have these days on our beloved internet.

You can "call out" whoever you want for a date. I don't work for the company as I'm not a dev. I just follow them closely to see where things are and where they will be in the near future. Anyone claiming they know where things will be in 3  months is making things up. No one knows, just follow the weekly update or not. If you want to check their code, here are thousands of commits in 3 important repo's:

https://github.com/maidsafe/routing
https://github.com/maidsafe/crust
https://github.com/maidsafe/safe_client_libs

If you think you do better than that feel free to share your GitHub-page (if you have one). But the amount of code/commits doesn't say that much. They went from over 500k lines in C++ to under 50k in Rust. They have to design a lot from scratch as there currently isn't a blockchains-less systems that allow for everything they want. Namecoin was quite a big idea in 2014, but it uses a blockchain. Maidsafe's DNS (Decentralized Naming System) is already working and does all without a blockchain.  

[jubalix]

yeah they could run a stripped down form, that can scale later.....just have something out....

eg IOTA has some serious wallet problems but at least they have the product out the gate.

Also I disagree, if you have the algorithm(s), and they have been going for what 7 to 10 years or something, you can build it in that time.

A good portion of the internet 1.0 was built in that time, from scratch.

"It needs to be able to scale from 100 users to 100 million"

yeah no, scaling can be sorted out later by a fork.

right now afaik there is not even the 100 as no live product.

I cannot help but feel some eth/lsk dapp is going do all of this.

[zeeman]

yeah they could run a stripped down form, that can scale later.....just have something out....

eg IOTA has some serious wallet problems but at least they have the product out the gate.
Also I disagree, if you have the algorithm(s), and they have been going for what 7 to 10 years or something, you can build it in that time.
A good portion of the internet 1.0 was built in that time, from scratch.
"It needs to be able to scale from 100 users to 100 million"
yeah no, scaling can be sorted out later by a fork.
right now afaik there is not even the 100 as no live product.

I cannot help but feel some eth/lsk dapp is going do all of this.

Lot of the 10 years was R&D and finding investors etc. Wasn't that easy before we had Bitcoin.

eg IOTA has some serious wallet problems but at least they have the product out the gate.

Alpha 1 got out in august 2016:

https://safenetforum.org/t/safe-network-alpha-release/10687

It was online for months, you could test a lot of things, from the DNS to self_encryption and quite some other stuff. We've also seen like 14 different testnets and propably more if you count the A's and B's as well.

yeah no, scaling can be sorted out later by a fork.

Why not fix Routing when you are building the network? Routing comes after Crust (IP-layer). Routing needs to be good before you can build the rest of the network. Mutable Data needs good routing and good routing scales to 100 million or a billion. I know quite some other projects with half finished or a total lack of GUIs. I was excited about Ethereum in 2014 (made nice money on the coins as well, could've been more if I just holded ) but so far it's just 1 big promise IMO. How many people in crypto do you know who use that stuff? What would you use Ethereum for right now since they had an official launch?? Can you point me to one very useful Dapp? They work on a decentralized storage system as well (Swarm) but why isn't that out if doing things on the blockchain was so easy? No to bash them in any way because the more projects we see the better, but building all these applications is hard.

MaidSafe just released their browser again, now with a feature to run a local testnet with Mutabel Data on mock routing.

https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726/46

Now external devs can build and test Apps for the upcoming networks.

 

[DurbanPoison]

"It needs to be able to scale from 100 users to 100 million"

yeah no, scaling can be sorted out later by a fork.

I cannot help but feel some eth/lsk dapp is going do all of this.

Um, yeah ok - let's rush it out now so we can fork it later to fix issues. Or better yet, just give up because a little old dapp running on top of ETH or LSK is going to do all this. 

Please stop talking now, your ignorance is appalling.

[CryptoCalum]

Sorry to interrupt.  I'm just trying to get my head around this coin.

Am I correct to think that the Safecoin itself would be used to purchase the apps/services on the network?  Therefore the value of the Safecoin would be related to the desirablity of those apps/services?

Thanks a lot,
Calum

[zeeman]

Sorry to interrupt.  I'm just trying to get my head around this coin.

Am I correct to think that the Safecoin itself would be used to purchase the apps/services on the network?  Therefore the value of the Safecoin would be related to the desirablity of those apps/services?

Thanks a lot,
Calum

It's needed when you PUT (upload) data to the network and when you create an account, buy a domain etc. I guess most apps will just be free and open source. Browsing the network and downloads are all free. The value of Safecoin is hard to predict because the number of new coins that are created per mb. declines when a lot of people try to Farm coins. So the value will be related to request/demand, the number of free_space available in the network and probably more. The network will balance itself out, if a lot of people Farm the Farming reward goes down quite fast. Same the other way around.

TL;DR  The network doesn't give a thing about the price of Safecoin, it only looks at the available free-space provided by Farmers. Fast algo's will kick in when there's too much/less space in the network.

[mamamae]

And that is why i'm a certified Hoarder for Maid
read about NVO ico starting like right now , someone know more and want to share ?

Sorry to interrupt.  I'm just trying to get my head around this coin.

Am I correct to think that the Safecoin itself would be used to purchase the apps/services on the network?  Therefore the value of the Safecoin would be related to the desirablity of those apps/services?

Thanks a lot,
Calum

It's needed when you PUT (upload) data to the network and when you create an account, buy a domain etc. I guess most apps will just be free and open source. Browsing the network and downloads are all free. The value of Safecoin is hard to predict because the number of new coins that are created per mb. declines when a lot of people try to Farm coins. So the value will be related to request/demand, the number of free_space available in the network and probably more. The network will balance itself out, if a lot of people Farm the Farming reward goes down quite fast. Same the other way around.

TL;DR  The network doesn't give a thing about the price of Safecoin, it only looks at the available free-space provided by Farmers. Fast algo's will kick in when there's too much/less space in the network.

[jubalix]

"It needs to be able to scale from 100 users to 100 million"

yeah no, scaling can be sorted out later by a fork.

I cannot help but feel some eth/lsk dapp is going do all of this.

Um, yeah ok - let's rush it out now so we can fork it later to fix issues. Or better yet, just give up because a little old dapp running on top of ETH or LSK is going to do all this. 

Please stop talking now, your ignorance is appalling.

Yeah no, you need to point out why.

I understand the the scope of what maid is trying to do, but there will be alternatives. though combinations of other platforms. There always is.

[jubalix]

yeah they could run a stripped down form, that can scale later.....just have something out....

eg IOTA has some serious wallet problems but at least they have the product out the gate.
Also I disagree, if you have the algorithm(s), and they have been going for what 7 to 10 years or something, you can build it in that time.
A good portion of the internet 1.0 was built in that time, from scratch.
"It needs to be able to scale from 100 users to 100 million"
yeah no, scaling can be sorted out later by a fork.
right now afaik there is not even the 100 as no live product.

I cannot help but feel some eth/lsk dapp is going do all of this.

Lot of the 10 years was R&D and finding investors etc. Wasn't that easy before we had Bitcoin.

eg IOTA has some serious wallet problems but at least they have the product out the gate.

Alpha 1 got out in august 2016:

https://safenetforum.org/t/safe-network-alpha-release/10687

It was online for months, you could test a lot of things, from the DNS to self_encryption and quite some other stuff. We've also seen like 14 different testnets and propably more if you count the A's and B's as well.

yeah no, scaling can be sorted out later by a fork.

Why not fix Routing when you are building the network? Routing comes after Crust (IP-layer). Routing needs to be good before you can build the rest of the network. Mutable Data needs good routing and good routing scales to 100 million or a billion. I know quite some other projects with half finished or a total lack of GUIs. I was excited about Ethereum in 2014 (made nice money on the coins as well, could've been more if I just holded ) but so far it's just 1 big promise IMO. How many people in crypto do you know who use that stuff? What would you use Ethereum for right now since they had an official launch?? Can you point me to one very useful Dapp? They work on a decentralized storage system as well (Swarm) but why isn't that out if doing things on the blockchain was so easy? No to bash them in any way because the more projects we see the better, but building all these applications is hard.

MaidSafe just released their browser again, now with a feature to run a local testnet with Mutabel Data on mock routing.

https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726/46

Now external devs can build and test Apps for the upcoming networks.

The difference is, for say ETH is people have to coin in thier hands now, so no matter what form it take in the future they have that coin on that network.

A test net means nothing as to value, if you think it has value I will swap you my testnet BTC for your real BTC.

there is a a sort of halfway house in the omni wallet set up bit its not the same.

[zeeman]

The difference is, for say ETH is people have to coin in thier hands now, so no matter what form it take in the future they have that coin on that network.

A test net means nothing as to value, if you think it has value I will swap you my testnet BTC for your real BTC.

there is a a sort of halfway house in the omni wallet set up bit its not the same.

That's why we differ in view I guess. I like all these coins, I also like to make money on them of course, but i really like the tech behind it all. I've seen the coming of Napster, KazaA and BitTorrent (yeah, I'm a oldie ) and I really like the idea of a next evolution to that. SAFE is that next evolution imo, just start a dedicated browser, surf 100% anonymous without commercial trackers following you. No need to enter creditcard credentials somewhere because Safecoin allows you to pay in a second. Devs can create their own chatrooms, youtubes, twitters etc. Freedom to tip a blogger some money, rent out your CPU power and more. And I'll swap my MAID for the real Safecoin when it's ready. You need data integrity for that. That's something half the team is working on right now, datachains etc. Will surprise a lot of people when it's out.   

[Burmik123]

Here's today's update:


https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726


Enjoy!

thanks, interesting. But I have one little question - when will be Alpha-2 release? this spring or summer?

It's always the ultimate question, when will they release what!  I really can't give an answer to that because I seriously have no idea. In the update they talk about releasing a local network for them to test, that's always good news. One of the devs replied on the forum today that they will provide the SAFE Browser with mock routing as binaries tomorrow:

https://safenetforum.org/t/maidsafe-dev-update-may-18-2017/13726/44

This is what other devs are waiting for, they already build stuff for themselves on the dev forum (https://forum.safedev.org/t/how-to-build-the-safe-browser-and-upload-a-website-with-mock-vault/625/78) but now they can just start the browser and build and test their apps locally against a fake network.

So in the coming weeks: 1). A testnet locally in Troon  2.) TEST 20 (guess they call it that) for everybody to join  3.) When that's okay Alpha 2.

But there could be bugs/errors/security holes which they fix and release TEST 20b and/or TEST 20c. They could last a week, or only a few days......

This is where it gets very hard to predict. Alpha 2 could be here in 3 weeks, or 6 weeks or 9 weeks if it takes longer than expected. I really have no clue. The good news is that MaidSafe really test their stuff and that external devs can already build apps now. Will be easier tomorrow with binaries release. The most important thing IMO is the real start of the ecosystem. Apps, coins (not Safecoin) going from A to B, chats and more. Really curious what external devs come up with after they waited so long  .   

thanks, you answered well and clear. A asked about alpha-2 because the price is standing at one place and it is not good.

[zeeman]

https://safenetforum.org/t/maidsafe-dev-update-may-25-2017/13843


Enjoy!@!