Agreed. Excellent work from the team. The video gets it just right and explains the important things, how cryptocurriencies work and importantly what makes SMAC more than just a regular cryptocurrency without getting too complicated. I've made a Reddit post with links to the video and a little summary (here: https://www.reddit.com/r/CryptoCurrency/comments/35aqyp/smac_is_a_different_kind_of_cryptocurrency_here/) - feel free to copy and repost elsewhere if anyone wants to - I posted it to the most obvious subreddit for me but I don't use reddit much, and there may be other better places to put the info. |
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We need to get the word out about this more, particularly since we have had a successful buyback. I've tweeted about it (here: https://twitter.com/Soul_Eater_43/status/595634064075423746) but I don't have many followers. We need to get the word out as much as possible - unfortunately most of the attention goes on scam coins or P&D schemes which make unrealistic promises. Once people find out that SMAC has as close as you can get to guaranteed increases in value with it's buyback system people would be stupid not to invest but the problem is getting them to hear about it in the ocean of other coins. Maybe others can suggest some more ways to get the message out? |
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In the OP, it says this:
SMAC Media will purchase coins from SMAC holders at market price (obviously this has been changed to "as a market buy") through a monthly SMAC buyback program to be used for the rewards programs until all original SMAC coins are bought back. We will use these coins as part of the rewards program and redistribute through contests and giveaways to reward holders.
So the plan is to NOT resell the coins that are bought back (although they will be redistributing them to people that obviously WILL sell them). But there won't be a massive sell back of the coins is the point. That's part of the reason that I have no doubt SMAC is going to easily fly past $1 per coin in the near future.
Thanks. I forgot about that:) |
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I've been thinking about what should be done with the buyback coins (assuming they are at some point to be resold) and have a few possible suggestions that I would like other's to give their opinions on. Once the SMAC market is sufficiently big, this will become less important obviously but some things I have thought of for the short term are -
(these should be combined for best effect):
1) Set a minimum time for buyback coins to be held before selling off - for example six months (not a suggestion though am not sure what time frame would be best)
2) Set a minimum threshold price which must be exceeded for a set amount of time e.g. 40K for 2 weeks (again just an example)
3) Set a minimum volume at which the sell off would occur (e.g. 20 BTC/day)
I've removed the 1st point of having a time limit as I think that parameters 2 and 3 adjusted correctly make it rather pointless i.e. there is no point or advantage to waiting a certain period of time if the volume/value is sufficient.
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I was never really an advocate for anon tech although I do believe strongly in privacy. I am, however, starting to see growing government encroachment and over-reach into the BTC blockchain as a problem. I was particularly alarmed by this: https://bitcoinmagazine.com/20182/leaked-chainalysis-roadmap-angers-bitcoin-community/I think developing countermeasures to this sort of thing will become more and more important for those of us who value privacy. I was wondering how feasible this would be for SMAC - or even if people think it necessary? Would it be overkill or could it be another means of strengthening it's value? |
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A clone of SMAC. At least get your own idea.
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I'm glad this is still continuing. I was an initial investor and quite skeptical of the launch and the whole issue with things not being ready then.
Despite my fears that the team would abandon this (particularly after the Moolah scandal) the team have kept with it and it seems that things are now starting to fall into place and come to fruition.
Hopefully this will be one of the cases that proves that commitment and hard work can win out in the cryrpto-currency space and that it is not the sole preserve of P&D scams.
I no longer invest in P&D coins, because although I could make a decent amount of bitcoins doing it, I find it a little unethical (it's little different to a ponzi scheme - basically stealing from those who invest after you).
I would much rather invest in something like this and sleep well at night.
I just hope more people in the crypto community come round to the same way of thinking as that would do more to advance the cause (and bring this all to the mainstream) than anything else.
There are signs it is happening with the steady rise in value/volume with SYS, ARCH etc. Let's hope this becomes the rule rather than the exception. Hard work, dedication and commitment should always be rewarded whatever the realm.
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We need more volume. Unfortunately I'm out of free BTC otherwise I would buy up some more whilst prices are still low.
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Good news, thanks SMAC team...
Agreed good news. Still not happy with the name but that is not the most important thing right now. Now hopefully this should raise confidence in the coin. I'm also thinking it might help to get some SMAC on some far eastern exchanges (although I don't really know any personally that are trustworthy). Some foreign language translations may also help as I get the impression it is mostly Euro/US investors right now. |
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no need for us to get in trouble with eachother, do you agree Penn.3d that something is not right and need to change especially on the buyback side... it would also be nice if we know whats going on with the suspended web page...i think they should let us know if something is being tested, an temporary offline notice would be nice.. EDIT: Again i used should..  i mean could! Yes it's silly for us to fight amongst each other. I also know that I can come across as quite harsh sometimes (it is not intentional, most of the time lol) - I think it just proves that we are passionate about moving this forwards. Lately though I have been a bit moody because I was recently started on insulin and I've noticed that one of the first signs of my blood sugars dipping is extreme irritability! Sorry if that's too much information but I'm just warning people in case I get crabby again:) It's quite shocking how reason and thinking can be affected by such simple things. The reason I invested in this was I liked the idea and I trust the people behind it particularly Boxxa who has gone out of his way to help me a number of times in the past - that's just the kind of person he is. For 2015 I decided that I would only invest in coins that I think have a future beyond the usual pumping and dumping cycle backed by teams involving people I trust. I suspect many of the others who are here are thinking in a similar way. Anyway let's just keep putting ideas forward and trying new things. It can only help and eventually we might come up with something that really works:) |
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Thanks Soul_eater_123, i agree with you on that, even if i have said different about the name! thinks really need to chance, like right now! some things doesnt make sense!
Agreed. You make some very valid points in your last post. I think the biggest problem right now is visibility amongst hundreds of other altcoins. People just don't have enough time to follow more than a few and so we don't have enough people who know about the potential here to invest and move this forwards. There isn't any easy solution to this though (if there was it would already be happening) as it's a chicken and egg type scenario. We need more people to know about this, to invest, increase volume and hence grow SMAC but we won't get that unless there is more volume, higher prices etc. Rebranding might help with this too but we need some kind of strategy to help spread the word. This is why I think it might help to find someone who has experience of real-world marketing/campaign management. Obviously this won't be easy but it is something we can try. |
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Your post speaks for itself.
Yes have edited it. Apologies for the harsh tone. Just feel very passionate about it. |
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This I, surprisingly, agree with. And something to think about, maybe by alternating eating sell walls one month then setting buy walls the next might be good and cause good organic growth.
I should have looked at this (buyback) a bit more closely. I assumed the team had purchased from the sell walls at the last buy back. Frankly I'm astounded they didn't and this needs to be fixed ASAP. Setting buy walls using the buyback money is pointless. The whole basis of the coin and the reason a lot of us bought in was the idea that sell walls would be purchased as a means of raising confidence in the price and creating upward momentum. Simply creating orders at prices below the current sell orders is just retarded (and actually making it below the ICO price is an insult to those of us who invested in it). It only serves to push the price down and implies that the SMAC team don't have confidence in their own coin. These things can easily be corrected and I would appreciate some clarity from the team on the matter. I would also like the team to look at adding people with real experience in advertising as new members - given that this a coin based on an advertising model it is kind of ironic that so few people know about it. This needs to be remedied sooner rather than later. Furthermore I think a real name (yes I will continue to bang on about this) and a half decent logo would go a long way towards creating the right kind of impression. The current name/logo look like they were created by a child and despite being beloved of the "Yes" men on this thread do nothing to advance SMAC in the "adult" world. Until real people start buying into SMAC it will continue to be dormant and unfortunately the lack of volume will kill it before it gets anywhere. First of all, this kind of caustic and aggressive post does nothing to further discussion. Second, I frankly resent being called a "yes" man. As I showed, I do have my own opinions and do not necessarily agree with everything that the team does. My recent post disagreeing with the team about their policy of putting up buy walls is a case in point. However, you will notice that in that post, I presented my idea as a "suggestion" that I hoped the team would consider, whereas in your post you present your idea as something the team 'needs' to do, and then you end by insulting both their design and their logo. The SMAC team has worked their asses off coming up with a road map and logo and name and on and on, and they continue to work behind the scenes to make this project come to fruition while you and I sit back and do nothing. So if you have ideas or suggestions, then please by all means suggest away. I would love to hear your ideas and I know the team feels the same way. But if you are going to come on here and call names and tell the team that they need to do this and that.....well, let's just say I think that's the wrong approach and leave it at that. And by the way, just because I like the name and the logo and you don't, does not make you right and me a "yes" man. I do very much like the name and the logo and I know others on here feel the same. Others dislike the name and logo, and that's fine too but ultimately it is up to the team to decide. Get over yourself. I'll say it like I see it and I'm not going to sugar coat it. If you like the current logo/name have a party but your taste sucks. I for one don't need your permission or anyone else's to express my opinion. I am making suggestions which I think will help but I'm not holding a gun to anyone's head. This kind of post proves exactly why you are a Yes man.
Actually screw it I am maybe being a little bit crabby. So apologies if the tone is harsh. I just feel very strongly about these things because I think this could be really big. Anyway I really think changing the name and logo will help just trust me on this. |
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This I, surprisingly, agree with. And something to think about, maybe by alternating eating sell walls one month then setting buy walls the next might be good and cause good organic growth.
I should have looked at this (buyback) a bit more closely. I assumed the team had purchased from the sell walls at the last buy back. Frankly I'm astounded they didn't and this needs to be fixed ASAP. Setting buy walls using the buyback money is pointless. The whole basis of the coin and the reason a lot of us bought in was the idea that sell walls would be purchased as a means of raising confidence in the price and creating upward momentum. Simply creating orders at prices below the current sell orders is just retarded (and actually making it below the ICO price is an insult to those of us who invested in it). It only serves to push the price down and implies that the SMAC team don't have confidence in their own coin. These things can easily be corrected and I would appreciate some clarity from the team on the matter. I would also like the team to look at adding people with real experience in advertising as new members - given that this a coin based on an advertising model it is kind of ironic that so few people know about it. This needs to be remedied sooner rather than later. Furthermore I think a real name (yes I will continue to bang on about this) and a half decent logo would go a long way towards creating the right kind of impression. The current name/logo look like they were created by a child and despite being beloved of the "Yes" men on this thread do nothing to advance SMAC in the "adult" world. Until real people start buying into SMAC it will continue to be dormant and unfortunately the lack of volume will kill it before it gets anywhere. |
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It's really amazing to me that knowing what we all know now about the road map for this coin and about the dev team, that someone is still willing to sell their coins to that 11,000 sat buy wall on Bittrex. Absolutely mind-blowing stupidity, lol. I suppose it's good to get the weak hands out now!
Come to think of it, it could be Bittrex selling the coins that they made from staking those 100,000 coins in their wallet.
+1 insanity if it is people dumping if it's bittrex well wouldn't surprise me if they staked and dumped all the pos coins on there, i would if i ran it hahaha Having watched Bittrex from the beginning I very much doubt they would do that both because of the security risk (remember what happened to Mintpal with VRC) and because they are one of the few exchanges that seem to have a strong ethical backbone. They are not perfect but they have had numerous situations where they could have profited more by doing such things but they haven't. I suspect it is someone who is selling off some of their staked coins at ICO price to reinvest. It may seem stupid right now but it might be an attempt to spread their risk (which really we all should do) but isn't willing or able to wait for a higher price before investing (e.g. due to an ICO deadline). I think this is most like it. The big hands are holding strong in wallets off trex and with the limited supply available on Trex from the distribution chart, there is going to be movements and people selling off ICO coins into walls for extra money. The interest was designed to allow early ICO people to profit by selling into new entry buy walls and still holding their ICO coins without the price moving too much to continue to generate interest. I figured there would be a dump when the 365% interests ended similar to how miners dump coins during changes. Exactly and we shouldn't forget that the only guarantee after any price rise is a dip. This is the nature of growth in almost any currency/commodity/stock and should not be a reason to worry. Not only that we need people to sell to help distribution as well as to keep the volume up. Low volume will kill a cryptocurrency more quickly than low price and poor distribution might put some people off investing. |
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Woohooo....great update, just will support jbs...keep holding it even though the price is tempting  Really getting stronger, keep up the great job dev. Thanks. Agreed. I like that this is moving on slowly and steadily and without hype. Whilst in the past I used to invest in every shiny new coin (the glory days of early 2014!) now I try to invest in people that I trust and believe in. As long as Julian is involved with this it will continue to have my support. |
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It's really amazing to me that knowing what we all know now about the road map for this coin and about the dev team, that someone is still willing to sell their coins to that 11,000 sat buy wall on Bittrex. Absolutely mind-blowing stupidity, lol. I suppose it's good to get the weak hands out now!
Come to think of it, it could be Bittrex selling the coins that they made from staking those 100,000 coins in their wallet.
+1 insanity if it is people dumping if it's bittrex well wouldn't surprise me if they staked and dumped all the pos coins on there, i would if i ran it hahaha Having watched Bittrex from the beginning I very much doubt they would do that both because of the security risk (remember what happened to Mintpal with VRC) and because they are one of the few exchanges that seem to have a strong ethical backbone. They are not perfect but they have had numerous situations where they could have profited more by doing such things but they haven't. I suspect it is someone who is selling off some of their staked coins at ICO price to reinvest. It may seem stupid right now but it might be an attempt to spread their risk (which really we all should do) but isn't willing or able to wait for a higher price before investing (e.g. due to an ICO deadline). |
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I do see your point name is important it's a hard decision and ultimately one for the Devs, I do think SMAC will take a while to catch on but i believe it will.
Thanks. I'm not saying it's impossible for the SMAC name to catch on, I'm just saying that it's a matter of probabilities. I think a more neutral name has a better chance and will be more likely to be taken seriously. Also as you suggested this should be more than just a "coin" and so it makes sense to remove the coin part from the name anyway. Also I would be willing to contribute some cash towards the thunderclap thing (don't have much due to ongoing health problems but would like to give something) if it can be donated in BTC. The more we work towards getting this attention the better. |
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