Such a good coin, comparable to maidsafe etc. But... this distribution confusion kinda takes away from everything.
We are trying to address issues
http://explorer.skycoin.net/api/coinSupplyThe reality, is that we are only able to focus on one thing at a time and do it well.
- we focused on
-- getting wallet fixed and on website
-- APIs implemented
-- blockchain explorer
-- website
-- exchange listing
-- quality assurance
we finished that
- but we had to cut back on hiring for new software development and hiring developers
now we are doing
- hiring marketing people
- infographics
- narratives
- video production for introduction and educational videos
- translation of website
- exchange listing
- communication with user community
- building up user community
Then after that, we are doubling the number of project managers and tripling the number of developers.
We have a single frontend developer, spread across three applications and he has backlog of 80 tickets. It will take him eight months, just to get through those ticket and that does not even include our next generation "universal wallet" and completely redoing the wallet from scratch, for multicoin, exchange and thin client support.
Then we have to do consensus/node explorer
We have to get first meshnet applications working
We have to get meshnet binaries on the website
We have to upgrade the execution environment so it runs headless
We have to add UDP firewall hole punch and STUN to the meshnet node
We have to implement first version of orchestration and bandwidth metering for the meshnet node.
We have to do benchmarking and optimization
We have to do four months of work on consensus implementation, moving consensus over to CXO and then have to gut and rewrite the whole skycoin networking stack (this is six months worth of work).
Then we have to hire two to three developers per team and need six teams working on six separate applications on top of Skywire and CXO.
We need to hire more infographics, marketing, community managers. We need to hire person full time just to prepare infographics, narrative and press kit and do media relations with the bloggers and pod casters.
We have to get part time devops guy to build bot for running integration tests. Our automated golang installations are failing because of DNS blocking and we have to switch from docker to coreOS. We have to have custom golang program written for doing SSH proxying so we can access servers behind firewall that do not have static IP.
We have to deal with peer-exchange for skycoin nodes, which was just enabled and get peer-exchange working for CXO. We need some type of DHT or tracker service for peer-discovery.
We have to start upgrading the skycoin and CXO networking stack, so it will be ready to run over Skywire in the future.
We have to have mobile team start on a native mobile wallet, now that the gomobile API bindings are done.
We need to do website, wallet and mobile translations into English, Chinese, Japanese, Korean, Russian and French.
We have to hire people for writing script, story board and then for video production and animation for our first videos. Then as soon as those are done, we need to start from scratch and do second round of improved videos.
That is just the next 8 months and is intermediate term.
ETC...
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ALL OF THOSE THINGS ARE HIGHER IMMEDIATE PRIORITY THAN DISTRIBUTION---
There are people who sent us 2, 5 and 50 Bitcoin and we cannot find them or communicate with them because they never sent us their Skycoin addresses. We are still trying to just get people the coins they bought and figure out who was sent what, from a year ago.
It is absolute chaos over here.
Within six hours of cointopia listing Skycoin (which we were never notified about until after it happened), we had to do emergency bug fix and take six nodes down off of network and had to fix bug in blockchain explorer.
We do not have enough people in place to respond. Everything is happening very quickly.
---
The "distribution issue" is not something we can "solve", so there is no time or anyone assigned to it. We have to stop focusing on issues that have no practical solution and need to focus on what we can make progress on.
We have determined that no solution is possible that a large percentage of people will not complain about, so no amount of effort will be able to make progress on that issue. So any effort placed into it, will be unproductive and wasted.
While we have MASSIVE backlog of bugs just to fix, and also massive hiring backlog and massive project management backlog, and massive marketing backlog and massive backlog of future development tasks to work through.
http://explorer.skycoin.net/api/coinSupplyOur distribution schedule is based upon Bitcoin's distribution schedule. We are only at 5.5% of coins distributed. It is going to take at least five years until we get to the distribution percentage Bitcoin is at right now.
We are not even at the development point, where the infrastructure needed for optimal distribution is implemented yet. The meshnet is not operating and it is impossible to run a node right now we have several years worth of development work and several dozen applications to implement, to just bootstrap the core network.
None of the documentation or infographics is done and 95% of people do not even understand what they are buying.We do not even have the white papers for the network or skycoin ecosystem up yet or anything on website about applications or timeline.
WE ARE NOT AT STAGE TO BE WORRYING ABOUT DISTRIBUTION.--- How Skycoin Screwed Up
We did it wrong, we should have
- released no source code
- done no work on software
- focused completely on marketing, website and video
- raised 10 million dollars in an ICO
- spend 80% of the money raised, for buying media to pump the coins and then run away with the other 20%
Then we would not have to answer criticism over the distribution.
I have never seen anyone, ever complain about the distribution of the pump and dump coins or recent ICOs.
Skycoin seems to be held to a much higher standard than the other coins.
It is like people complaining about the distribution of Google stock.
"I want free Google stock", "The ownership of Google stock is too concentrated", etc. To get the stock, you have
- contribute something to its success to get it
- buy it
Else you do not get any. They did not do a "Coin Drop".
One person started with 100% ownership and the ownership became more decentralized over time.
The ownership never became fair or equal. Most people are in debt and working at minimum wage jobs and are one pay check from starvation and will never be able to afford to own even a single Google share.
I do not know what the solution to the "distribution" problem is. I do not think there is a solution, that will make everyone happy. No one has suggested any solution.
We should be focusing on the price per skycoin, not the distribution. If you bought Skycoin at a penny and the price went to $50, then no one is going to complain. The price per coin is concrete, while the "distribution" is ephemeral and meaningless.
And we should especially be focusing, not on the price, but what we achieve in the world. Even the price per coin is secondary to impact and the project goals.
In every other coin
- they raise a huge amount of money
- they spend the money on marketing, to pump the price up from the ICO
- whether they achieve what they set out to do, is irrelevant because the developers will become rich and quit as soon as the pump is successful. Even if the developers keep working, they will be lazy and slow. Everyone who knows the Ethereum people, knows this problem.
I think ultimately we have to say "Skycoin is not about the price" and the distribution is probably irrelevant also. I think Bitcoin failed, as a crypto-currency as soon as the community measured its success and failure based upon what the price is every five minutes. People forgot why Bitcoin exists and what it was a response to and then it just became a number that went up and down and became like horse racing or fantasy football, with no real impact on the world. It simply became irreverent.
We should not let the community get dragged down into discussion of the price/distribution and should focus on the project objectives and what we are trying to accomplish and how we are going to get it done.
I trust that what you do will be right. You are focused on the long-term over the short-term.
Distribution is still important to the coin regardless; however, good work will maintain good prices.
NXT had horrendous distribution but they also happened to have a great team. This distribution is still better than NXT as you intend on increasing investor wealth - we just need to wait for all the cogs to go into place.
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