Running in place

I haven’t blogged for a while, but that’s because there’s nothing going on.

When?

Recently a post on the community forum asked “What year do you think Safecoin will be implemented into the network?” and it appears that majority of registered forum members believe nothing will happen in 2017.

When is MaidSafe going to launch?
When, FFS?

Only one third of all people who voted expects Safecoin will launch this year. And those are MaidSafe fanatics. Any reasonable person should be less optimistic than that.

Why?

As I’ve been saying, I’m with the guy at the bottom (“Other”, and by that I mean “never”): at best they’ll create a “BitTorrent-over-Tor”-like freeware which doesn’t require any crypto coin.

Think about it: let’s say you’re a Torrent user who downloads movies and other such crap once a week and the SAFE Network comes along. Why would you bother having anything but a throw-away account on this network?

Yes, you may need 1 Safecoin to create an account on the SAFE Network, but assume for a second that there’s also the SAFER Network, a forked version which works like today’s BitTorrent (free P2P downloads): why bother with the SAFE Network when you can get the stuff you need on the SAFER Network, for free and without Safecoins?

Let’s leave it at that, because it’s a purely theoretical concept: Safecoin won’t work. If paid P2P downloads take off, they won’t use Safecoin but bitcoin. Which is Kim Dotcom’s bet.

Big Thinkers

I blogged about Kim’s plan a while ago (and Kim obviously came up with the idea much earlier than that), but recently one the brilliant community thinkers wondered if reselling of MaidSafe storage service will be possible.

I mean you don’t have to be smart to blog about what proven entrepreneurs like Kim are working on, but you have to be totally clueless to come up with an idea such as (custodian) reselling to enterprises and feel confident enough about it to float the idea on a public forum.

Here’s what Dr. Irvine said:

I think there will be tons of use cases like this.

So it is a good idea after all!

Just imagine if somebody asked you to buy bitcoin by giving him cash and in return he’d buy bitcoins for you, but he’d keep them in his wallet and spend them on your behalf when you need to pay with BTC.

Yes, it’s an incredibly stupid idea! But most in the SAFE community forum were optimistic about this kind of business plan for unsafe storage services, which is alarming in itself but also tells you that MaidSafe owes its popularity to a bunch of totally clueless and deluded people.

Before we move on, also imagine a scenario in which the hospital uploads patient data to the reseller’s FTP server, after which a little Perl script “securely” uploads the data to the SAFE Network. What kind of idiot would do that? It doesn’t make any sense at all!

Then there’s the fact that in all these scenarios the SAFE reseller doesn’t add any value. The main effects this approach generates is extra bandwidth costs and enormous risk for the end user.

What happened to the idea to eliminate intermediaries and enable trustless data storage?

MAID

The MAID coin is therefore completely worthless – you can’t do anything with it now and most of the forum fanatics believe that won’t change in 2017.

There’s no use for it now and there won’t be use for it even if they manage to launch Safecoin. But its market capitalization is close to $68 million. How is that possible? They must be doing something right?!

It’s the same old pump-and-dump story that we’ve seen before.

As the basic (non-monetary) BitTorrent-like SAFE Network code is being developed, new greater fools come on board, attracted by visionary propaganda and nonsensical use cases such as reselling. In the future everyone will use Safecoin so get some MAID while you still can!

Nope, Safecoin will never be finished and if there’s any future in selling access to the SAFE Network, it’s going to be for downloads only and we’ll pay for it with bitcoin.

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One thought on “Running in place

  1. Erm, SAFEcoin can be farmed for free by anyone, unlike bitcoin, which requires all kinds of hassles and fees to buy.

    There’s just so much wrong in everything you’ve posted in this blog. I wouldn’t even know where to start. It’s crazy you’ll put so much effort into this rather than into understanding the basics of the network, like incentives and access.

    I’ll chuckle as I see this edited and eventually deleted in line with maidsafe launching. Several of the criticisms are already outdated. The “self-authentication is impossible” quote is laughable given it does work and is proven tech now. It’s funny that you could only find three and all three are already redundant arguments.

    This is like reading through a simpleton’s nervous breakdown. Did you lose a lot of money?

    Like

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