I have a question regarding the Safecoin , according to the
Website , there will be only 4.3 billion coins in circulation at one time .
I would like to understand what "at one time" means exactly ? Is it like Bitcoin where 21 million coins will ever be created ? or does it mean that If some coins get lost,burned or whatever , more will be created ?
Another thing , If only people who provide resources will get paid , what would anyone buy the coin as there is no demand ? (unless people who use the network will have to pay coins as well)
Yes, it's like the limit with Bitcoin. No more can be created on the system, but it will take over a 100 years to fill it all up. In SAFE a Safecoin is "owned" or "not owned". When you upload data to the network you need to give up ownership of some Safecoin. So it goes from "owned" to "not owned". If you deliver a Chunk from your vault to the network you might earn Safecoin. In that case the close nodes look if a random address is "owned" or "not owned". If it's "not owned" you become the owner and you just Farmed some SAFEcoin. If you spend it to store some data you give up ownership again. So when 50% of all coins are owned the change of you farming a Safecoin goed down 50%. The Network changes the value per deliver chunk as well. Same for the price to PUT data to the network. So one day you might own 0.0001 Safecoin per MB. A month later when more people provide resources it could be lower than that.
If there's no demand?? Same for Gold, Dollar or Bitcoin. The price goes down I think. You can always use it to store data on the network. If the price becomes very low a lot of people will stop farming. The network notice and the reward for delivering data to the network goed up. the network will always balances itself.
@chinchs
Getting listed on BTTF have some prerequisites? what's the money for? Development only? Thx
Yes, it's for development. They have around 15 people working for them. Most of them devs.