Initial Safex currency price and dividend question


#1

I’m trying to wrap my head around the future ‘dividends’ and have a few questions. It has been made clear that the transaction fees on the marketplace will be distributed to Safex wallet holders. I hold a large quantity of Safex and have been telling others about the project, but there are portions of the investment portion that I am curious about.
Price of the current Safex coins will rise tremendously (disregarding the pump one the marketplace is released) if/when there is real trade on the marketplace.

  1. How will the initial Safex currency price be determined?

  2. Is the current dividend calculator truly accurate since we don’t know the value of the to-be-released Safex currency? Depending on that price, the dividend calculator could be way off, either high or low depending on how the Safex currency fluctuates.

  3. With almost half of all Safex coins held on Bittrex, what estimated percentage of the coins on there will actually be moved to wallets?

  4. Who gets the dividends of the massive amount of coins which will most likely remain on Bittrex? (This could be up to 50% of the coins held on that one wallet)

I am not asking these question to be negative about this project, in fact, it it the polar opposite. I am a top twenty holder and my goal here is to receive upwards of $500k per year of passive income from this project (which would be around 2 billion dollars of marketplace trade based on the current dividend calculator).
It is us early adopters that stand to make the greatest long term gains based on current Safex price and I am asking these questions to see if if my goals hedge towards false hopes or serious reality.


#2

So what is the question lol


#3

Sorry, I pressed post by accident before posting the questions. The initial post is now complete.


#4
  1. 0.5% of all Chilli coins get distributed initially, not sure about price.

  2. the $500 million for the 1st year does seem optimistic to me. I think it could take some time to reach that volume.

  3. Around 25% of BTC are lost, so I would assume 50% - 75% would be moved.

  4. I think the profits will be split evenly to all coins moved to wallet. So the new total will be less than all circulating coins, because not all coins will be moved. You’re essentially getting a better dividend rate. (so x/0.75 or 1.3x more, or x/0.5 or 2x more)

That would be sweet to get half a million per year passive income.


#5

That would be amazing if that is the case, as long as the Safex team has enough revenue stream to continue to build on future marketing and hiring efforts for the growth of Safex and further profits for coin holders.


#6

Hi there,
Seems like you know your stuff atound the safex projects.
As I’m very new to Crypto & ssfex & at tjis stage keep my safex coins in an exchange could you please explain where I transfer my old coins for new coins & also so I can be apart if the airdrop.
Do I just open & safex wallet & transfer my current coins there?
Once transferred to the dafex wallet will they automatically be converted to new coins & airdrop?
Woukd really appreciate if you could explain
Cheers
Lars


#7

It’s not for another couple months, you’ll get plenty of instructions when the blockchain goes live. None of us really know how it’s going to work yet.


#8

The exact process of transferring them to the new blockchain etc has not been announced. It will likely be a process similar to transferring coins to another key address, send coins to an address and receive them on the new blockchain after processing. That’s my guess anyway.


#10

Ok great appreciate your reply
Cheers Lars


#11

On what exchange do you have your Safex ?

It is recommended that you transfer them to your Safex wallet for safe keeping.

Search here to learn about the wallet, and to save your “private” key and never ever lose it or share it !


#12

Don’t worry, its gonna be a big news once it gets live. I’m sure Dan is gonna keep us posted as soon as things pop up. :slight_smile:


#13

Hi there, thanks for your reply.
On coinspot.
So how do I transfer to the safex wallet.
Had a look & could not find where to do it?
Cheers
Lars


#14

Hi & thanks for your reply.
Yes hopefully big news.
I just need to workout how to transfer my coins from coinspot to the safex wallet.
Cheers
Lars


#15

@Auswede check out this post Why still so many questions about wallet usage despite safex wallet tutorial?
Lots of screen shots and tips for transferring to SafeX wallet. I recently transferred mine from coinspot.


#16

Ok great thanks for your reply appreciate it.
I’m quite new to all.this maybe a big ask.Harleycoin but do you think you have time to.send me a quick.email.explaining how you did it?
Would be most appreciated .
My emal, larsab@hotmail.com
Cheers
Lars


#17

Honestly I’m a newbie as well. Just download the wallet from safex.io, use the automatically generated public key, copy paste it into coinspot SafeX wallet and send. Google for how to transfer from coinspot.
That above pasted forum topic has everything you need and it’s from people far more experienced than me


#18

Ok great realky appreciate the info
Thanks again :grinning: