also, look at the pricing, and how many coins there are. also, although these 2,880 every day is one thing - the money for these goes guess where...yep, the metronome team. talk about a license to print money and devalue the existing one at the same time.
Incorrect. The money goes -- guess where -- to a smart contract that is not accessible by the Metronome team. That is why we call it an "un-ICO." No private sale + 100% of the money raised goes back to the Metronome community over time. You've got our attention with the idea of an un-ICO, but does it really pass the Howey test? Let' see.. for the SEC to class what you're doing as a security you need to fail the Howey test. In order to fail, the SEC uses the 4 questions below. If the answer to all 4 is "Yes", then you're issuing a security. So let's give it a try.. 1. It is an investment of money Yes2. There is an expectation of profits from the investment Yes3. The investment of money is in a common enterprise Case law has seen this mean effectively anything, so Yes. 4. Any profit comes from the efforts of a promoter or third party Though the money goes into a smart contract, that smart contract was written, supported and promoted by you and/or the Metronome team. This whole "un-ICO" is promoted by you guys, not the investor, so this seems to be clear and resounding Yes. Therefore it seems that Metronome fails the Howey test and will be classed as a security. Sucks how regulation stomps out innovation... We're big supported of the Metronome idea and we admire your bravery in the face of unclear regulation, but we're very concerned the SEC will class Metronome as a security and it will be sidelined, languished by regulation, with exchanges unable to list it. Could you please share with us how you think this will be OK regulation-wise? If we understand your analysis of the regulation situation, then we could get more comfortable with investing. While we can’t get into details of legal opinions in a public forum, we have hired knowledgeable, external legal counsel to guide us every step of the way. The initial supply auction is purchasing a working cryptocurrency via autonomous public auction, not an investment, a utility token, or token representative of anything else. Please see Appendix A of the Owner's Manual. |
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reverse auctions are a type of scam anyway, they're not fair at all. buyers invariably buy earlier and at a higher price than they otherwise would due to the psychology of how crowds work.
also, look at the pricing, and how many coins there are. also, although these 2,880 every day is one thing - the money for these goes guess where...yep, the metronome team. talk about a license to print money and devalue the existing one at the same time.
don't get me wrong, this will no doubt make a fortune for the team, but will fail hard as a cryptocurrency. everyone knows the real reason they delayed this ico/auction/whatever you want to call it was to watch the price of ether and try and time it for the most profit. nice scheme though. clever.
Actually, Metronome authors receive none of the proceeds from any of the auctions. Those stay in the ecosystem to provide long term support for the community. This has been in the owner's manual, the FAQ, and other supporting documentation since we announced Metronome in late October. You can read more about that here: https://medium.com/@MetronomeToken/on-metronome-author-retention-and-contract-behavior-73dad8f16494And here: https://medium.com/@MetronomeToken/proceeds-for-the-community-not-the-authors-d41874d4d41fand here: https://bitcointalk.org/index.php?topic=2450739.msg37106891#msg37106891And as has been communicated multiple times, the previous postponements have been solely about quality of code and ecosystem. The team was auditing and ensuring that the ecosystem is as clean and secure as possible. So again, as Jeff explained (linked in my response) launch timing was based on getting everything right, since there is only one chance to do so. See his responses here: https://t.me/metronometoken/68364and here: https://t.me/metronometoken/76180The attention to detail and commitment to delivering the best possible cryptocurrency protocol and ecosystem for Metronome is more important than an arbitrary date. There's only one chance to get it right with an autonomous, self-governing cryptocurrency like Metronome. Also, as the code is updated following audits, it is important to ensure that those changes do not effect other parts of the code in unexpected ways. However, we were pleased to announce the _set date_ of June 18. https://twitter.com/MTNToken/status/996486420356362241?s=09Tl;Dr: like the medium page explains, Metronome authors receive none of the proceeds from any of the auctions. Previous postponements were due to intensively auditing the code and the ecosystem entirely to make sure everything behaves as expected at launch. There's only one chance to get it right since Metronome will be self-governing (by design) once launched and out of the control of its creators. I suggest reading the resources available on metronome.io. edit: greater clarity |
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Well, there will be a smart contract for tokens conversion in metronome ecosystem. EOS auction didn't require any verification for example.
Correct, participating in the auction or selling to the Autonomous Converter Contract is just direct interaction with the autonomous contracts themselves. |
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Metronome initial supply auction date set!
Save the date: June 18, 2018 at midnight UTC
Just curious, how have the legals of this auction have been structured? We read in the media all this fuss about ICO's being illegal security offerings and exchanges not listing coins that are considered securities. My question seems a particularly relevant question for any would-be investor. Hello, So there are a few things here, 1) Metronome is not an ICO. Its Initial Supply Auction is an auctioning off of a working cryptocurrency via autonomous smart contracts and 2) it is solely a cryptocurrency no a security token, utility token, or token representative of anything else. Thanks! Edit: spelling |
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Read about the talented members of the Metronome team in the Metronome Minute series. This week, one of Metronome's Advisors, Vinny Lingham of Civic. Read more about him here: bit.ly/2I3XVhf
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Thank you for the information, I will read your white paper so that I better understand your project again. I think this project has a bright future.
Thanks for the kind words! Let us know if you have any other questions! |
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Which the next exchanges are you planning?
Hello! We believe Metronome represents a high quality, new foundational cryptocurrency. Third party exchanges are outside the control of the creators of Metronome and will make their own decisions as to how they wish to treat Metronome after it is launched. It is up to exchanges to choose what they list, not Metronome authors. There will be the autonomous converter contract which is part of the Metronome ecosystem which allows Metronome or ETH to be sold to it for the other. You can read more about that starting on page 22 of the owner's manual. Thanks! |
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What is the main purpose? Give me some example.
Thanks
So the FAQ and owner's manual go over use cases. But I really like this snippet from an interview Jeff did with Strategic Coin too. I'll link it for you! https://youtu.be/nPLSCqJ4_LwIn short: Metronome is a cryptocurrency that will have the ability to exist on multiple blockchains, with advanced payment features, and an autonomous converter contract where users can sell Metronome for the token of the underlying chain or the token of the underlying chain for Metronome (page 22 of the owner's manual gets into that more). Thanks! |
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Hello. What advantages can Metronome give me compared to Bancor Network?
Bancor Team is planning cross blockchain for ERC20 tokens (Q2 2019) and they
have already made great progress.
Hello, Metronome is a cryptocurrency built for longevity, it will be one cryptocurrency that exists across multiple blockchains as part of its goal of being built to last. Another aspect is its self-governing nature. The responsibility of where an owner hold their Metronome is entirely theirs, so they can move their Metronome to any chain they feel satisfies their needs. Also, all proceeds from all auctions stay in the Metronome ecosystem to help incubate Metronome in its early years--they do not go to a foundation or to the authors. Its supply is also _highly_ predictable. Once the Initial Supply Auction ends, anyone will be able to calculate the global supply at any given time in the future, _to the day_. Further, the Metronome ecosystem also has the Autonomous Converter Contract, where owner's can sell Metronome for the underlying cryptocurrency (initially ETH) or the underlying cryptocurrency for Metronome at a rate determined by the current contents of the contract at the time of interaction. I suggest reading through the Owner's Manual, medium page, and FAQ, as they provide some great detail on Metronome itself. |
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This project looks promising, I am looking forward to the auction and I will gladly start studying the project  Happy to hear you're interested! Let me know if you need me to point you in the right directions for resources and documentation. |
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I also hope in this project. I wish good luck to the developers. Thanks! |
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it was a different project. but why is it so complicated? I couldn't understand the discrepancy between the first investors and the last investors. :/
So Metronome isn't an investment. The auction is set up in such a way that no one is excluded from or privileged in it. Everyone has to operate within the same rules: purchase at a given price, or wait for the price to descend. The entire point of conducting the auction this way is to discover market price by providing every purchaser the same opportunities to purchasing, and allowing them to determine what price they deem is fair and purchase then - supply permitting. You can read more about that in the Owner's manual. This article is also helpful: https://medium.com/@MetronomeToken/fairness-as-a-first-order-variable-8012a5c22ed1Hope all is well! |
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is there a bounty thread ? hope we can join in the signature bounty
Hello, No, there is no bounty campaign. Thanks! |
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Tell me how will users be able to earn using your tokens? Good luck to the whole team!
Thanks for the well-wishes. So Metronome is a cryptocurrency with the main goal of being an enduring currency. To that end, Metronome will be self-governing, reliable with a highly predictable supply, and portable so that owners can choose which blockchain to keep their Metronome on. You can read more about Metronome in the [owner's manual]( https://metronome.io/pdf/owners_manual.pdf) and on its [medium page](medium.com/@MetronomeToken). There will also be a Metronome mining pool, where users mine ETH but are paid for their mining contribution in Metronome. Hope all is well, |
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Thank you. it will be a different and beautiful ico. the team follows a variety of strategies. it's a project to make a lot of names. Metronome's scheduling real life according to the code. Happy to hear you're excited and interested! We'll keep the community up to date as we continue to pressure test and ensure the quality of Metronome's code. |
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I didn't find the date of the ICO implementation, the sale was postponed? When about to expect an auction?
As of today, to ensure that Metronome is the best its authors can make it for launch, the guidance for the Metronome launch is May – the team has made tremendous progress to date and now have a better line of sight towards the finish line. The team wanted to provide an update on the progress they have made as they finalize the auditing and testing process and get it ready for launch. From the email they sent out about an hour ago. Thanks for sharing this! |
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I didn't find the date of the ICO implementation, the sale was postponed? When about to expect an auction?
Hello, Target is for May, 2018. We will announce a 10 day countdown prior to the confirmed date. Thanks! |
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which is the official metronome site because there are many scams and I want to know where they pay the token
Hello, The only official Metronome website is metronome.io Thanks! |
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