> Launching Pad is set for MaidSafe and safecoin April 22nd, - Freedoms Phoenix
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Launching Pad is set for MaidSafe and safecoin April 22nd, 2014 Noon GMT

Written by Subject: Bitcoin
April 14th, 2014
Declare Your Independence with Ernest Hancock
on LRN.FM / Monday - Friday
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Studio Line: 602-264-2800 

2014-04-14 SPECIAL PROMO MAIDSAFE LAUNCH WITH DAVID IRVINE from Ernest Hancock on Vimeo.

Ernest Hancock, host of the Declare Your Independence with Ernest Hancock, interviews founder and CEO of MaidSafe.Net about their upcoming April 22nd, 2014 launch of the MaidSafe platform and the support for the SAFE Network (Secure Access For Everyone) SafeCoin (safecoin.io)...

What is MaidSafe?
MaidSafe Technology Overview - Short:

The New Decentralized Internet
MaidSafe is a fully decentralized platform on which application developers can build decentralized applications. The network is made up by individual users who contribute storage, computing power and bandwidth to form a world-wide autonomous system.
The MaidSafe Platform

Self Authentication allows everyone to be in complete control of all data, beyond encryption to include physical access. In essence, nobody knows where any data is located, thereby providing completely private and unilateral access by individuals. As all communications and data at rest are also encrypted, nobody can tell who is using the system, what they are doing or where they are.


End to end encrypted data transfer and communications with encryption injected above layer 3, thereby evading 'man in the middle attacks'. Data at rest encryption, beyond today's highest levels of military grade algorithms on an open source platform that stores no passwords or representations of passwords.

The ability to 'self join' the network, enabling users to manage their own data, identity, contacts, shares or any information completely free of any third party involvement. Users can store, share, chat and publish 100% under their own control and knowledge.
Calling Decentralized Application Developers

How would you like to create the next Dropbox, Facebook, Google, LinkedIn, Twitter, Candy Crush, or secure email service?

The MaidSafe platform offers every developer the opportunity to create applications without any infrastructure costs and without any barrier to entry. Experience customer acquisition costs that are limited to just marketing and 1% of your revenue, only payable once your app starts to generate income.

App Development Platform

This is the MaidSafe Library stack, it shows how each of the libraries tie in to enable applications to build and run successfully (click on chart below for App Development Platform interaction):

We like to think of MaidSafe as a frictionless decentralized development platform

How would you like to create the next Dropbox, Facebook, Google, LinkedIn, Twitter, Candy Crush, or secure email service?

The MaidSafe platform offers every developer the opportunity to create applications without any infrastructure costs and without any barrier to entry. Experience customer acquisition costs that are just limited to marketing and 1% of your revenue, only payable once your app starts to generate income.

Build your next business on a network that will enable you to outperform all incumbents, that can automatically adapt in real-time to demand fluctuations, which also allows you to offer anonymity, security and privacy to all your users.

The MaidSafe network API is being finalised now, join us and decide on your venture, we will help make your vision a reality.

Reasons for developing on the MaidSafe platform:

*Get your apps everywhere
*No risk - you only start to make a minimal payment (1% of revenue) as your app starts to earn revenue, not before!
*No API key - just download our code and start using it
*Extremely low customer acquisition costs and no infrastructure costs
*Apps that adapt in real-time to changes in demand
*Provide security, privacy and anonymity to all your users
What is Safecoin?

About safecoin
safecoin is the crypto currency of the SAFE (Secure Access For Everyone) network.

The SAFE network takes all the Internet services currently available today and decentralizes them, removing servers and other central points of weakness enabling privacy, security and anonymity to all Internet users for the first time.

safecoin is a fair and transparent way of giving end users, developers and backers the opportunity to get involved with SAFE network. safecoins may be earned, traded or purchased and a total cap of 4.3 billion will be generated.
Backers Purchase safecoins

It is also possible to buy safecoin and buyers anywhere in the world will be given the opportunity to do so during an up and coming crowd-sale. The sale event will run until ten percent of all safecoins (429,496,729) are sold or 30 days have passed, which ever happens first. safecoin will be made available to buyers through a proxy token, MaidSafeCoin. Once the MaidSafe network goes live, the MaidSafeCoins will be redeemable for the network’s native safecoins at a 1-to-1 ratio.

The crowd sale will commence at 9 a.m. GMT on the 22nd of April. Purchases can be made using either bitcoin or mastercoin with all purchases being recorded on the Bitcoin blockchain, via the Master protocol. It will be possible to trade MaidSafeCoin immediately, and this intermediary coin will remain while the SAFE test network remains in place.
End Users Proof of Resource
End users can farm (or earn) safecoins by providing Proof of Resource (POR).

In many crypto currencies and decentralized networks a proof of something is required to allow the network to validate actions or services via a mathematically verifiable mechanism. Within the SAFE network, nodes (users computers) are validated in a very efficient, accurate and cryptographically secure manner. End users can earn safecoin by contributing resources to the network, we call these resource providers ‘farmers’. Farmers provide these resources by running a vault (a node on the network) which handles requests and stores data for other users. There is no set up required to turn your computer into a vault, it is just a simple software download.

The resources in question are storage, CPU, online time and bandwidth. The SAFE network is able to constantly measure and immediately verify these resources, this is called Proof of Resource (POR). This POR facilitates the exchange of storage space on the SAFE network. To earn safecoin, farmers must provide more resources than they are using and the amount of safecoin they earn directly relates to the amount of resource they are providing. There are no humans involved in this process and the network stores data randomly across all nodes, similar to a lottery. The more resources you provide the more lottery tickets you have!

Estimated mining potential per node
TimeNumber of coins
first day800
first week1800
first month4000
first year19000

For a technical explanation visit the appendix (section 4) of https://github.com/maidsafe/Whitepapers/blob/master/Project-Safe.md

Developers for safecoin

15% of all safecoin earned will be allocated to the developer pool. This will ensure the developer community is highly motivated and rewarded for providing free-to-use applications as their revenue model. It is proposed that developers are able to use the SAFE network to publish their applications. These application developers are called Builders and the network will reward use of these applications by paying the Builders in safecoin based on the application use by users of the system. This is calculated as the application developer can insert their own wallet address in their application (which becomes immutable) on the network. This exciting proposal may be a fully automatic revenue model for both open source projects, private individuals and application development companies. Developers who contribute code that enhances or fixes bugs in the SAFE network that are accepted into the master branch of the codebase will also be able to earn safecoin.

FAQs What would you like to know?
How can I become a backer of safecoin?

During the crowd-sale, backers can participate two different ways: by sending bitcoins to our crowd-sale website or by sending mastercoins to our crowd-sale “exodus address." Purchases using Mastercoin will occur on-blockchain, and MaidSafeCoins will be instantly delivered to the backer. Bitcoin purchases will occur using the buysafecoins.com website, and backers will provide the Bitcoin address where they would like to receive their MaidSafeCoins.

How will I receive my MaidSafeCoins during the crowd-sale?

MaidSafeCoins are generated and distributed via the Master Protocol on top of the Bitcoin blockchain, so your Bitcoin address will also be your MaidSafeCoin address. In order to view your balance and send your tokens, you will need to use a Mastercoin wallet, such as Masterchest (for Windows) or Masterchain.info (web wallet for Mac and Linux users). These wallets will support MaidSafeCoins upon commencement of the crowd-sale.

When should I purchase MaidSafeCoins?

The crowd-sale of MaidSafeCoin has an early backer incentive mechanism. Early backers will receive additional MaidSafeCoins for their purchase on the following scale:

First Week Incentive:40% bonus
Second Week Incentive:30% bonus
Third Week Incentive:20% bonus
Fourth Week Incentive:10% bonus

Up to 429,496,729 MaidSafeCoins will be generated during this crowd-sale. Once this number is reached the crowd-sale will end, so there is an incentive to become involved early.

Where can I trade my MaidSafeCoins once they are purchased?

You will be able to exchange your MaidSafeCoins for safecoins once the SAFE Network is launched, and you will also be able to trade your MaidSafeCoins immediately upon receipt at exchanges that support MaidSafeCoin. MasterXchange.com is an exchange that will support MaidSafeCoin immediately once the crowd-sale has begun, so once your purchase has occurred you will be able to trade your MaidSafeCoins immediately. You will be able to send your MaidSafeCoins to any Bitcoin address (using a Mastercoin wallet) as soon as they are received by you.

What is the Master Protocol?

The Master Protocol, developed by the Mastercoin Foundation, facilitates the creation and trading of smart properties and user currencies as well as other types of smart contracts by encoding information directly on the Bitcoin blockchain.

The Master Protocol is decentralized, and like safecoin, “removes the middlemen” in network transactions, with a focus on transactions that occur on the Bitcoin blockchain. Mastercoin and the Master Protocol are driven by the community and leverages the decentralization of the network to provide value and increased functionality.

By  Forbes Staff

David Irvine lives in a tiny beach town called Troon on the West Coast of Scotland. He describes it as a place where old people go to retire, with a population of 15,000, a thriving golf community and views of the cliffs of Ireland on a clear day. It’s a surprising place from which to launch a product that he hopes will transform the way the Internet works.

Irvine is a mechanical engineer who taught himself about computers when he “realized they would be big.” He went on to manage oil company Saudi Aramco’s computer network before founding his own network consulting company, Alba, in the UK. After realizing that “the way the Internet is designed is insane,” he unplugged and started sailing, eventually becoming a yachtmaster who would pick up newly bought boats, say in the south of France, and sail them home to their owners in the UK. In 2006, he moved to a place where no English was spoken (so he could concentrate) to write the white paper for “MaidSafe“: a network for crypto-ownership and storage that does for data what Bitcoin does for value. Over the last eight years, he’s gotten $5 million in funding from family and friends to hire 14 people and try to make his product a reality. This month, the company is doing its first public funding round. Highly non-traditional, it plans to raise funds by issuing “Safecoins” on a cryptocurrency protocol called Mastercoin, which itself is built on top of Bitcoin.
Confused yet? Welcome to the age of crypto-ownership, where any kind of data can be encrypted and managed by a decentralized network of computers. It’s a concept that’s been around for years as readers of sci-fi authors like Neal Stephenson know, but now that Bitcoin has managed to permeate the public consciousness and introduce people to the concept of a decentralized, crypto-managed network in a tangible, money-generating way, other crypto-entrepeneurs are hoping to move beyond just decentralizing payment. Their models look a lot like Bitcoin, but instead of eliminating banks and the Federal Reserve, they have other service providers in their targets. A company called Ethereum headed by a lanky Canadian named Vitalik Buterin, 20, wants to decentralize contracts, allowing deeds, car titles, or even something like Social Security numbers to be stored in a network, where one person crypto-owns the contract with a private key until they choose to pass it along to someone else (like you would pass along a Bitcoin). “It’s the sharing economy for your hard drive,” he says.
Read the Rest of the Story Here

Stockman introduces bill to impose sales taxes on 'virtual' bitcoin (From TheHill.Com)

A new bill from Rep. Steve Stockman (R-Texas) would call for sales taxes to be paid on transactions using bitcoin.

The Virtual Currency Tax Reform Act would change the IRS’s treatment of the virtual currency, of which Stockman has been a strong supporter.
Late last month, the IRS declared that bitcoins should be treated like property in the eyes of the federal government, which would make profits earned off trades of the money subject to capital gains taxes. Stockman’s bill would change that determination and treat bitcoin like other forms of currency.  

“This is a nascent industry,” he said in a statement on Monday. “Along with 3-D printers and nanotubes, cryptocurrency is the future. We need to encourage it, not discourage it. There is risk associated with every budding industry in America.”

Bitcoins only exist virtually but can be traded for cash online or used to buy goods and services at some stores.
Click Here for the rest of the story


3 Comments in Response to

Comment by Ed Price
Entered on:

The crowd funding was over for the initial amount in the first couple hours. From what I read, MaidSafe received well over a $million worth in Bitcoin, and very little in Mastercoin. Now all we need is to see the Safecoins show up, piggybacked on Mastercoin wallets, like the deal said.

Comment by Ed Price
Entered on:

The greatest problem with Government is TRUST, or lack of it. When you NEED Government, you ABSOLUTELY MUST trust the people who are in it to do the job correctly. There is no other way. The only other way is to GET RID OF GOVERNMENT, and to trust that folks around you are more trustworthy than Government people.

MaidSafe can change all that. A properly-built app that rides on MaidSafe can force Government people to be trustworthy.

Government should be built with its duties and limitations strictly set in place. Yet it should allow freedom for the people to engage in any activity, entirely freely, as long as they harm nobody. A MaidSafe app could make Governmental rulings of no effect if the rulings did not follow strict freedom for the people.

Start thinking it through. MaidSafe wouldn't control anything. All it would do is to authenticate Governmental rulings according to strict, preset definitions. Government rulings would not be anything until they fell into the guidelines set by the MaidSafe Government app. The app would be open-source so that any programmer could read and understand it. The app would be authenticated by everyone who desired to learn the programming.

No more faulty, lying trust... trust that is misplaced in Government people who make secret deals behind the backs of average folks who are trusting them, just so those Government people can get rich.

Comment by Ed Price
Entered on:

Wow! There's sombody else with basic libertarian ideas, on bitcointalk.org. And the ideas could be implemented a whole lot better using MaidSafe. See the "Bitcoin Island" topic at:


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