If users really don't know about the merit system,and what sMerits are,they shouldn't even be here in this forum. You can't expect theymos or anyone else for that matter to personally PM them about the newly integrated merit system. If people even go to their profile and click the merit hyperlink,they can know about sMerits. And there are so many threads in and out of meta(some jackasses are creating threads trying to "criticize" about the merit system in Alternate Cryptocurrencies board). So if users really want to be adamant ,let them be,they will realize they won't be able to rank up anymore.
Admin has made a thread about the merit system but it would have been better if he made it sticky as well. So many new threads opening about merit system may be because of this. Also, the official thread gets buried as we see more new threads in meta. The forum is swamped with Merit and sMerit threads. Anyone who doesn't understand the system by now should go back to school, or maybe they should read some of the existing threads.
Merits aren't awarded just for posts that aren't spam. They are given to posters who make a useful contribution to the Bitcoin Talk community ( or they should be in my opinion ).
There may be some people who might be not that active in meta section. However, it is hard not to notice merits in own profile. +1, it should be stickied. Or there should be some obvious link to information at the top of the page. Go ahead call me stupid, but how is anyone supposed to know where to find the information about it? Especially people who don't speak english well? They might not have any idea what 'meta' means. Putting a sticky and an obvious link might cut down on these posts about it. Agreed. I know that I typically go straight to the threads or categories that I'm watching and don't navigate through the home page. I assume that a large number of users never check Meta. Even the info when you click through to the Merit info page doesn't tell you about how it's really intended to be used. Sure, it briefly describes how Merit works, but I didn't really understand what types of posts should be receiving Merit until I explored some threads. I don't expect everyone to do that, so there should at the very least be a stickied FAQ linked to from the Merit page. The fact that there are a million threads is more a problem than a benefit. I wouldn't expect people to go sifting through everything. There should be a comprehensive official source that's easy to access. If users aren't properly educated on its intended use, then what's the point? |
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I think there's a great misconception about how Populous platform works. It is not offering invoice factoring or discounting, but rather a loan from the invoice "seller" to the the invoice "buyer", with the faint promise that the loan will be repaid once the invoice "seller" is paid by the ultimate customer. This makes no sense at all. In real factoring/discounting, the sale of the receivable transfers ownership of the receivable to the factor (i.e. the buyer of the invoice), and the factor obtains all of the rights associated with the receivables. Accordingly, the receivable becomes the factor's asset, and the factor obtains the right to receive the payments made by the customer for the invoice amount. In other words, the buyer of the invoice should be the one repaid directly by the ultimate customer, not the seller. Otherwise the seller is being paid twice for the same invoice (once by the invoice buyer and once by the customer); this goes against the very essence of what a factoring transaction is. It is also possible to structure a collateralized loan transaction that uses the invoices as collateral for the ultimate repayment of the loan, but that isn't what Populous is doing. In fact, the transaction that Populous is envisioning makes no sense at all.
The way you describe how Populous works is just wrong. It IS an actual sale of the invoice at a discounted price. I suggest you some more research on the process. That said, it's a variation of invoice discounting and I'm not aware of any existing models that are similar, so you can't really make a direct comparison to traditional factoring or discounting. It'll compete in the same market, but it's not exactly the same type of business. If it were indeed, as you say, a sale of the invoice at a discounted price, then why is the process described as follows on Populous's website ( https://populous.co/about-platform.html):
-Deposits must be exchanged to Pokens.
-Invoice buyer transfers Pokens to invoice seller.
-Invoice seller transfers Pokens to invoice buyer on repayment of invoice.
-Withdrawal of funds in government currencies, Bitcoin or Ethereum.It is pretty clear from the above that the invoice seller is the one who is ultimately repaid by the customer, which is the very antithesis of an invoice sale or factoring transaction. You can clearly see in the process above that the invoice seller gets paid twice, once by the invoice buyer (in Pokens) and once by the ultimate customer (in fiat). The reason real factoring transactions don't work like this is that they are structured in such a way as to avoid the moral hazard of seller non-compliance. In real factoring, when an invoice is sold, ownership of the invoice is transferred to the buyer, so that the buyer recovers directly from the customer. That is the very essence of factoring/invoice discounting. This same process is explained in further detail on page 16-17 of the Feb 2017 Whitepaper https://web.archive.org/web/20170606070843/http://populous.co/populous_whitepaper.pdf: If the auction is successful:
1.6.9. The beneficiary of the auction receives the funds from the investor group, which has won the auction.
1.6.10. The investors from the other investor groups are refunded their bids.
1.6.11. When the borrower cashes the invoice, which he has auctioned, he sends the money to the platform.
1.6.12. When the funds are received, the investors from the investor group, which has won the auction, receive their winnings. Each investor receives dividends propor-tional to his bidding contributions.You can see clearly above that invoice "seller" is paid funds once by the investor group (paragraph 1.6.9.) and then a second time by the customer when the invoice is cashed out (paragraph 1.6.11.). From a functional perspective, this cannot be a "sale" of the invoice, because in such case the "seller" cannot be repaid directly by the customer, the right of repayment having been transferred to the buyer. Now, when you take away the right of direct repayment from the invoice "buyer", then this becomes nothing more than a simple loan, or an "IOU". There is no collateralization or other defensive mechanism protecting the invoice "buyer" from the seller's eventual non-compliance. In fact, there isn't even a way for the invoice "buyer" to know whether the invoice has been repaid/cashed out. You should really be asking yourself whether it's a good idea to invest in a team that can't even properly explain how a factoring transaction works... perhaps this is because they have absolutely no experience in this field. I'm not sure what to tell you. I interpret the process differently than you do and see it as a sale with the transfer of cash being addressed through accounting entries. Also, as I mentioned before, it's a variation of factoring/discounting, so it's not that they are describing it "wrong", it's just that their process is different. I know it's not perfect and I still have some open questions myself, but relative to other crypto investments, I think this one is extremely strong. |
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I think info on how merit should be used needs to be better publicized.
While it'd relatively easy to notice the new merit score below the avatars, I don't think most users know how they should be using their sMerits. From reading through some Meta posts, it's my understanding that sMerits should be relatively free-flowing and most "non-spam" posts are deserving of at least one Merit, however I don't see that happening very often.
Are there ways to better communicate to the masses what type of posts should be deserving of merit?
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Nico confirmed this morning that Beta will be released later today as promised.
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So some users prefer to find synonyms for a few words and the copy paste, then to think for an original post? this seems to be to much work. but peoples are very strange
Spinning software (like The Best Spinner) was very popular a few years ago as a way to try and fool Google into thinking your website had original content. It doesn't really work well for Google anymore, but I guess someone found another use for the software... |
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Did he say anything noteworthy? |
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I don’t get it..... Maybe I’m missing something here by why would populous release screenshots only days before the beta release and not just wait for the actual product ?
My guess is that they've been promising beta since November and now that we're close to the end of their most recently promised date (end of Jan), they want to show everyone how close they are. It gives people more confidence that they'll still hit the Jan 31st deadline. |
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I think there's a great misconception about how Populous platform works. It is not offering invoice factoring or discounting, but rather a loan from the invoice "seller" to the the invoice "buyer", with the faint promise that the loan will be repaid once the invoice "seller" is paid by the ultimate customer. This makes no sense at all. In real factoring/discounting, the sale of the receivable transfers ownership of the receivable to the factor (i.e. the buyer of the invoice), and the factor obtains all of the rights associated with the receivables. Accordingly, the receivable becomes the factor's asset, and the factor obtains the right to receive the payments made by the customer for the invoice amount. In other words, the buyer of the invoice should be the one repaid directly by the ultimate customer, not the seller. Otherwise the seller is being paid twice for the same invoice (once by the invoice buyer and once by the customer); this goes against the very essence of what a factoring transaction is. It is also possible to structure a collateralized loan transaction that uses the invoices as collateral for the ultimate repayment of the loan, but that isn't what Populous is doing. In fact, the transaction that Populous is envisioning makes no sense at all.
The way you describe how Populous works is just wrong. It IS an actual sale of the invoice at a discounted price. I suggest you some more research on the process. That said, it's a variation of invoice discounting and I'm not aware of any existing models that are similar, so you can't really make a direct comparison to traditional factoring or discounting. It'll compete in the same market, but it's not exactly the same type of business. |
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I think posts like this are what's wrong with crypto. Populous is a solid coin with real utility and the article doesn't even mention what the token does. An article predicting price that doesn't give any support as to why it's a good business is nothing more than a pump article. |
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For the most part, I've tried to contribute high quality posts, but I still worry that the scarcity of sMerits will make it extremely difficult for me to rank up to the next level.
That's because the system is currently not working as theymos intended. This is from another thread: @DooMAD
If they're really not adding anything, then they shouldn't get merit. But it doesn't need to be mind-blowing, either. Someone suggested a feature where all umerited posts would be hidden (which I may do at some point) -- I think that it'd be good to look at it as asking what posts you would want in such a summary. So not just incredible posts which might've taken an hour or more to write (those should probably get 10+ merit), but also the questions, arguments, jokes, etc. which couldn't be removed from a thread without starting to lobotomize it.
It's all very new, of course, so maybe this strategy will not actually be the best, but it is what I had in mind when designing the system.
@TMAN, I have been adding sources, and I will continue.
What I gather from that is that anything of value should get a merit. That's also why you may award more than 1 per post. It seems like the scarcity problem is being worked on, so let's just give it time. That makes a lot of sense, but it seems like the sMerits are too scarce. I liked the OP's post, so I gave him my first merit. However, I only started with 5 so I feel like I can't give them away too easily UNLESS I start to receive them relatively easily. If what you described plays out, it should work pretty well so I hope people are generous with them. Your reply definitely made me rethink how I should be spending my own sMerits, so you'll get one from me see well. I'll make a conscious effort to try and spend them as frequently as possible, regardless of how many I hold. |
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I've got mixed feelings about the merit system. I agree that it'll help combat post spam, but I have to admit that it's kind of demotivating.
For the most part, I've tried to contribute high quality posts, but I still worry that the scarcity of sMerits will make it extremely difficult for me to rank up to the next level. I know that's the point, but I kind of feel like I'm being penalized even though I've tried to maintain a high quality account.
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Can anyone explain to me how the passive income for ppt works, did not know this could..
And is it also compatible with holding your coins on a ledger?
You purchase invoices from sellers at a discount, then get paid back the full amount. That's how you earn the "passive" income, but the reality is that you'll have to select the invoices you buy. You won't just receive income for owning the tokens. I doubt it'll work direct from a Ledger early on. Maybe at some point, but I think you'll have to hold your tokens on the platform in order to use them. |
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Screenshots?? Poor attempt at keeping the investors happy. A lot of marketing and blowing hot air can be a dangerous game to play.
No product, no customers yet.
Hive has a working demo and has an ERP deal covering Russia and Central Europe (Adacta ) already signed ready for the Q2 platform release. So the users of the platform are already there and waiting.
You are backing the wrong horse on this one im afraid.
But best of luck! There is probably room for both but Hive is certainly not a shitcoin, so do your own research.
They stole content from a competitor. No matter what else they have going on, I consider them a shit coin because you can't trust the team. There's a reason why Hive and PPT prices are so far apart. |
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could anyone explain in a very basic and simple way what the populous is about or how it will work. Invoice trading on the blockchain means nothing to me. I've been on youtube watched a few vids but just don't get it.
Think of it almost like peer to peer lending to businesses on a short term basis. You're basically pre-paying one of their accounts receivable invoices and you get repaid (plus profit) when their customer makes payment. Thanks. Will the tokens be used for this. I mean as a token holder can you get involved by giving a loan of tokens, or does it work a different way. Yes, the tokens are used to purchase an invoice. You can commit up to 80% of the value of your PPT. When the invoice is paid, you'll get your PPT back plus profit. |
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could anyone explain in a very basic and simple way what the populous is about or how it will work. Invoice trading on the blockchain means nothing to me. I've been on youtube watched a few vids but just don't get it.
Think of it almost like peer to peer lending to businesses on a short term basis. You're basically pre-paying one of their accounts receivable invoices and you get repaid (plus profit) when their customer makes payment. |
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Just took my profit from POP and roll it into HVN (similar coin)
You just waisted your money lol...... HIVE lacks the team, the industry experience and the tech that Populous has. Hive will never match Populous. HIVE is a literally piece of garbage. Seriously, it's one thing to take your profits and reinvest, but putting it into a shit coin is ridiculous. |
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Guys, guys, I know that you want REAL to go to the moon but in my opinion even if it'is going to hit every exchange in the world, I don't expect to see a large volume, most tokens will be exchanged for RPP in the internal exchange when things will roll, and locked obviously. Which is the purpose of this token, if you're holding it for speculative reasons you chose the wrong project
This is 100% correct |
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Yeah, basically. It looks great though. |
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I did not participate in this company. I was thinking of buying this token on the exchange, but right now I'm looking to better avoid this project. It can be unequivocally said that this project is engaged in fraud. I see that they are deceiving bounty members. I see that they begin to block people in the telegram. I would not be surprised if you all members of the bounty are blocked in their telegram and in social networks.
I don't think this company is a fraud. That's a pretty bold accusation to make. Bought account. Blocking people in the telegram. https://bitcointalk.org/index.php?topic=2459382.0 https://bitcointalk.org/index.php?action=trust;u=381115I see that the project is interesting and I'm sure that it has a future but I do not like how they act with the bounty members. This is what will happen when there is a problem with the bounty or people are not satisfied with the computation. There is suppose to be a bounty thread but people will be posting their concerns even in the ANN thread, please address this matter whoever manage now so we can do away with irrelevant posts here. Personally, I want this things sorted out early to bring back the price up because even with developments that we are seeing, it is going to be overshadowed by the big bounty problem. Have you seen the bounty thread lately? LOL, Atlant fucked up the bounty participants big time. From what I read so far, they encourage people to promote the ICO everywhere and seemed lenient at first. Also promising big bounty rewards to everyone. You can see the spreadsheets were full of participants. In summary, they used everyone to market the ICO and have no intention of paying most of them. LMAO, that's fraudulent behavior right there. I'm afraid for the investors who believed in Atlant's promises and roadmap. I think they won't bat an eye in hoodwinking the public when they can't deliver. The long delay is also suspect. Maybe there's only two of them in the scam team and the rest are just fictional. And don't say they won't do to you what they are doing to the bounty participants. This is one behavior of a greedy team I joined sig campaign for 1 month and Im not included in the final list OMG Im waited for almost 2.5 months just to see the stakes and I found out Im deleted what kind of people this atlant team have? Do you know why you were deleted? |
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