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16406157 No.16406157 [Reply] [Original]

Thinking about Safex. It's something which I keep finding nuggets about. It's so low key they seems to be almost secretive about what they're doing.


Any anons know any more?

>> No.16406186

>>16406157
Also what about the guy who says its a scam?

>> No.16406286

Check out the weekly dev updates in the safe exchange forum as well as the github. It is clearly not a scam. The testnet is already running with mainnet and GUI wallet/marketplace app released within a few weeks.

>> No.16406506

>>16406157
secretive in what way? the regular updates in the forum give a good impression on what is being done

>> No.16406603

>>16406506
Yeah but they don't market. They got delisted from bittex and a few others and there's a big mystery about the founders and funders.

>> No.16406703

>>16406157
I bought this scam when McAfee shilled it and then it got pulled off exchanges and I eventually sold at a loss.

But if it's real and darknet traffic ends up on it then it might be profitable.

>> No.16406720

>>16406603
That's because it's unironically a scam

>> No.16406778

>>16406603
>>16406703
>>16406720

The founder is operating with a clear name in an office in Belgrade which is accessible to the public. that's in my opinion a bit too open for a "scam". Bittrex delisted the old coin without any reasoning, it was a mess. There were a load of exchanges that delisted loads of coins, too.
It does not make sense to throw big money at marketing before the product is out. Marketing will start as soon as the market is out and ready for use. The marketplace is around the corner, I shilled SFT here at 20sat a few weeks ago, now it is at 50sat. Take it or leave it.

>> No.16406952

>>16406720
In what way is it a scam? Someone in a previous thread showed ATM's the team had designed and produced themselves. That seems legit to me.

>> No.16407005

SAFEX bring me really bad memories, I lost alot of money and I hope the scammers running that scam get jail time for what they did.

>> No.16407014

>>16406157
>screencap from discord
>hey guys is this legit
>Etherium

>>16406952
see you're a brainlet, cryptocurrency is about protocols and algorithms, any kind of meme magic hardware should be a huge red flag. It's a meme to sucker in retards who simply don't get it. They show you hardware, and you're like "woah, nobody else does hardware, these guys must be on to something", but they're not, you're just tech illiterate.

>> No.16407038

Definitely not a scam. Lots of ongoing development and testing.

As a long time follower of the project I have no doubts the product (marketplace) will arrive, the only question is how much volume it will generate. If it's even a fraction of the numbers being touted then the current price for Safex Token is a ludicrous opportunity to make life-changing money from a few hundred dollars.

It's quite a big IF though. Is it still too early for mass adoption?

>> No.16407056

>>16407014
Safex is a protocol and I would see the atm as a great way to get cash into crypto.

No idea why you forgot to consider that.

>> No.16407065

Safex is just a fork of Monero, and they are saying is the ethereum of e-commerce, never heard so much shit, safex is just a scam pump and dump Shitcoin and nothing else, just let that coin die and never mention it again,
When I hear "safex" I get visual images of diarrhea, vomit, std and other disgusting things., I must have pstd since the Bittrex .
Fuck you SAFEX

>> No.16407075

>>16407014
you are probably a stinky linkie, keep holding your erc20 shit token. muh oracle.

the ATMs are just a side piece to support adoption of crypto currency, especially Safex. BTC has a quarterly velocity of money of 1, no one uses it. same for all other crypto. Safex aims to provide a product and currency that is actually used for its purpose. soon you will see.

>> No.16407099

>>16407075
Safex is a scam, get the fuck out of 4chan, safex = scam

>> No.16407102

>>16407056
>5 posts by this ID

>>16407075
>irrelevant argument
>4 posts by this ID

rack up these numbers raj, I want em in the mid 20s by EOD

>> No.16407119

>>16407065
>Safex is just a fork of Monero
Monero is just a fork of Bytecoin

>> No.16407126

>>16407102
my ID changes every few hours, chill bro.

>> No.16407128

>>16407102
I made the thread. I'm interested and sometimes in biz there are nuggets of great info from people.

to be fair you've said nothing constructive or enlightened. You probably hold IOTA or something and jerk off about 'the tangle'

>> No.16407140

Looks like some folks sold a kidney for safex at the highs and it hasn't worked out for them.

>> No.16407152

>>16407119
Bytecoin > Monero > Safex
Imagine buying that shit

>> No.16407170

>>16407128
I can recommend you to register at the safe.exchange forum. There, you can directly get into contact with the community and also the developers. Nothing is scammy or hidden, they are quite talkative. Next development update will be published on monday.

>> No.16407183

>>16407152
what shitcoins do you hold? sigh. You are either a linkie or bitcoin maximalist who calls everything else a scam.

>> No.16407186

>>16407128
>personal attacks

The most unfortunate thing here is that you don't even hold what you shill, you're just getting paid per post, or per campaign, whatever, so you won't even be burned when this shitcoin dies.

>> No.16407211

>>16407186
you think there are people paid to post on 4chan?
you live in a bubble already. it's not even a shill, he just asked questions. kek.

>> No.16407234

safex is shit...pls dont buy. Leave low prices to me...oh well a bit late fucker is jumping to 100s now....glad i have a few in my pocket see how it turns out, but development is definitely legit i actually tested their cli tools (wallet and miner) 2days ago, they are switching from cryptonote (or sth) to RandomX (also nothing i would know) something ASIC resistant

>> No.16407245

hope the sarcasm above is ...noted. Seeing what some people write here about safex makes me think the IQ has left the building.

TLDR; yes safex is legit and a very promising project.

>> No.16407287

>600$ in daily volume
aight I'ma let you jeets do you

>> No.16407300

>>16407287
at a decent volume you will have to buy at 10x but brainlets don't get this. Last months were to accumulate, now the ship is leaving the harbor.

>> No.16407344

so anyway, now the FUD attack seems to have passed I thought we could talk about the utility of the 2 token system and having a marketplace linked. How much does this add to other privacy projects?

>> No.16407357

>>16407287
Oh and that's another thing I think is impressive. They built their own exchange (Xcalibra) to stop future delistings.

>> No.16407572

>>16407300
this seems true. what do you think is a fair market value for SFT? 4mil seems too low for what they have.

>> No.16407688

>>16407344
The utility of the token system makes sense for me in the following way:
People will be incentivized to let SFX circulate the market and to buy SFT because of the reward. This in combination with the distributed transaction fee will make SFX fairly distributed. The fee also helps to avoid fake reviews on products. A product must be bought in order to make a review. If a seller wants to make fake reviews, he has to buy from himself on the blockchain and makes a loss because he pays a fee.

>>16407572
A fair market value for SFT would be at least 1 cent for every 10 million USD yearly volume on the marketplace. This would be a value that is solely based on the incoming SFX reward.
So at a target goal of e.g. 100 million USD volume, I can see the SFT at 10 cent. Right now, I cannot give SFT a value since the product is not out yet. People are anticipating and price in later rewards, therefore the token price goes up before volume on the marketplace occours. (same for every other crypto in hype phase before product).

>> No.16407721

>>16407572
There have been some good articles written on Medium regarding value of SFT. One of them was by Roeuge and looks at it from a P/E ratio perspective.
Ultimately the value of SFT will primarily depend on the volume of trades conducted on the marketplace. If the team can achieve 10% of the turnover they have estimated for the first year (that is $50M instead of $500M) then I would say a fair market cap for SFT is somewhere in the vicinity of $65M

>> No.16407753

>>16407721
that supports my figure as well. I see this basically as a low boundary value, since there are loads of cryptos out there with a high speculative value that is not backed up by any cashflow/incentive. Therefore, the speculative value can exceed the "fair" P/E based value.

Same goes for SFX cap. A "fair" value can be predicted using volume on the marketplace and velocity of money of the currency. If the VoM is 1 like for BTC, the market cap will grow ridiculously high. A higher velocity of money and actual use of the currency will lower the market cap.

>> No.16407917

>>16407688
ok interesting. I'll ponder those.

What about dark market stuff. Won't that make up a huge percentage if this is anonymous and encrypted? Won't safex get hammered by the SEC?

>> No.16407932

>>16406778
The marketplace has been around the corner for 2 years. Daniel Dabek is awkward as fuck and I have virtually no faith in him.

>> No.16407944

>>16407932
It's my understanding they're beta testing now. Seems to be going on in the discord. You don't think they'll launch? May I ask why?

>> No.16408027

>>16407944
all basic functions for a functional marketplace are already included in the testnet or will be so within the next week. after a few weeks of the testnet, the mainnet is planned go to live before end of year (including the GUI wallet/marketplace-app).

>> No.16408030

>>16407917
In regards to the SEC hammering them - Safex is not an entity that they can go after, it's a protocol. The marketplace itself is built into the blockchain, distributed across every server that runs a node. It would be futile for the SEC to try and take all Safex nodes down

>> No.16408141

>>16407917
they are not promoting illegal activity and the official marketplace app will only have approved title markets available for search. However, everyone can still host hidden markets (that you can only access with a key) and individual listings

>> No.16408152

>>16408030
>>16408141

ah interesting. so dark markets on the clear net is a sort of nod nod wink wink thing. how relevant will it be to turnover?

>> No.16408333

>>16408152
Nod nod wink wink? What do you mean? I just say that everyone can list whatever they want and noone can censor it. No idea on the turnover, I think 100m is doable first year. (Tor markets alone have 1 billion and get taken down regularly). Global e commerce is in the trillion dollar range.

>> No.16408418

>>16408333
OK but to go back to the cap in the OP, how will apps function on this? Are they saying that it'll be simple to set up a web shop that cannot get shut down and is totally anonymous?

>> No.16408549

>>16408418
I think it would be the best if you registered on the forum and asked since the devs can explain this way better. I assume that a webshop, that is hosted on a centralized server, will never be censorship resistant and anonymous. I assume, that offers which are solely embedded in the blockchain are immutable and anonymous. The offer amd its description is basically a part of a transaction then. If you kick off a thread in the forum I'm sure this can develop in a good discussion with new ideas and findings!

>> No.16408552

>>16408141
What about Balkaneum? What's to stop them getting in trouble?

>> No.16408626

>>16408552
All I know/assume is that they have legal advisors and are quite confident about not getting into trouble since they don't work hidden in a secret place. Why would they get in trouble? Did the developers of TOR get into trouble? Again, they are just building a software tool, they are not setting up any illegal markets themselves like DPR is assumed to have done. Also the ATM machines from balkaneum have KYC so they are not busted by regulators.

>> No.16408656

>>16408626
ok that's a solid point too.

Do you have any idea who the rich backers are? I heard Safex got a huge cash injection from some Swiss lawyer or something...