Hey thanks for the input, we're always trying to understand how to explain the process better. The XAP coins will gain in value as the network grows, its value will be established through the crowdsale according to slide 6:

https://docs.google.com/a/distributed.buzz/file/d/0Bw_D-1wK1JG_SWNpa3dCV0NoU1U/image?pagenumber=7&w=138

Hello and thank you for your post - to clarify we are not releasing XAP coin to buy software from anyone. We are actually taking the proprietary software created by the people behind this project and open-sourcing it. In effect, taking what was newly created and innovating it.

Indeed the founders are actively working with David Irvine and the team at Maidsafe and can authenticate the people behind this project.

Regarding your question, the API network will be a layer on top of Bitcoin, Mastercoin, and  Maidsafe - the project will dedicate money back into the network itself, to support the needed infrastructure as the API network grows. We believe this re-investment of Bitcoin into the technology we seek to co-create will drive the value of the XAP coin, while at the same time its interaction with other projects like Swarm, Ethereum, and CounterParty will provide a connected experience between all platforms. This proposal would require the project to purchase these other cryptocurrencies, but they are certainly not for the intent of personal gain.

indeed the people launching this project are working with David Irvine from the Maidsafe project.

Or you can participate in the crowdsale next week

Regarding the client, the founders have outlined the features of the API Network in this part of the whitepaper: https://github.com/DavidJohnstonCEO/APINetwork#features-of-the-api-network

We don't yet have a beta ready for release, our current stage of development is focused on the Data Module and Billing Module.
There is a google developer group available and we have an ongoing Skype chat.
Please PM me if you are interested

The relationship with the MSC Foundation is nothing beyond the fact that the API Network is building its functions on top of the Master Protocol.

Hey there and thanks for the message, I appreciate your honesty. To help clarify, one is able to make money by following these steps:
1. Participate in the crowdsale starting June 18th at 11 Central using Bitcoin or Mastercoin to obtain XAP coins
2. Trade or Use XAP Coins

Its value and quantity are discussed in detail here: www.buyxap.com

Hopefully this helps with the confusion, and lastly this is certainly not an IPO as we are not issuing securities.

We will only be releasing 3M of the tokens, the remaining coins will be awarded according to the data in slide 6
https://docs.google.com/a/distributed.buzz/file/d/0Bw_D-1wK1JG_SWNpa3dCV0NoU1U/image?pagenumber=7&w=138

Thanks for the question - we look to be transparent and appreciate your feedback. The XAP coin is the forerunner to open-sourcing the technology behind http://Engine.co.

The release of XAP coins will crowdsource resources to build the API Network, in effect laying the infrastructure for decentralizing applications.  This layer will enable a marketplace of APIs.

Anyone else going to Beltway this year?

Find out what it means to be incentivized for creating a better API.
The API Network is launching June 18th and we are releasing only 3M XAP Coins to the public before they are no longer available for sale.


Pre-Announcement for the upcoming launch of the XAP Coin
- designed to incentivize developers for their APIs
- capable of powering an open-source decentralized marketplace
- will cache and store API network data using Maidsafe's SAFE Network

The official announcement is coming out on Monday, June 16th and we are bringing you this first as we want the Bitcoin community to be involved!
Please take a look over our project and get our own XAP coins on June 18th when it launches to the public!

Advantages:
- No ASIC/Scrypt mining
- Use the same Bitcoin wallet
- Be rewarded for developing your own API

How does it work?
- new XAP coins are released when nodes provide a service to the network
- XAP coins are required to access the API network services
- XAP coins can be earned by sharing your private APIs

Why XAP coin?
- Because we believe it is possible to completely decentralize the personal computing environment
- The world needs an API Marketplace to help end users integrate applications across all platforms
- An incentivized token system will drive the growth of an open-source environment

Get XAP coin
- On June 18th starting at 11AM Central go here: www.buyxap.com
- Use Bitcoin to purchase your XAP coins
- Or pay with Mastercoin, the protocol used to create it

Want to know more? Check out the website at [buyxap.com]
Read the whitepaper at [https://github.com/DavidJohnstonCEO/APINetwork]
Visit the API Network at [http://www.apinetwork.co/]
Stay updated by joining our Developer group here: https://plus.google.com/u/0/communities/116050453698554265785

Excellent question and thanks for asking this, XAP coin is modeled after the Safecoin - the token used to transact value across the Maidsafe network.

- The API Network may well sit on top of the SAFE Network when it is launches to store and cache API data
- Safecoin/Maidsafecoin was created on the Bitcoin network using the Master Protocol from Maidsafe
- XAP coin will be using the same open-source technology
- all transactions will be recorded in the Bitcoin blockchain, viewable on sites like blockchain.info
- XAP coins can be used with BitcoinQT or web wallets like blockchain.info

Thanks for being the first to ask this, API Network is not a scam - its based on a registered company who has proprietary technology, they are going to open source this technology as the first phase of the API Network platform.

XAP coins are not a IPO, they can be earned through a Proof of Resource algorithm similar to the one used in the Maidsafe network.

Currently, the only way to obtain XAP is by waiting until the network is finished its Beta in the next year (2015) or purchasing XAP coins now to be apart of seeding the network

Hey thanks for the questions and feedback, the API Network will be one of the first projects to launch on the SAFE network from Maidsafe. The client is currently in development and we hope to release it very soon after the Beta.

If you would like to join our discussions about the development and release, please let us know by posting your interest here:
https://groups.google.com/forum/#!forum/apinetworkdev
or emailing apinetworkdev@googlegroups.com

Thanks for the question! Currently XAP is only available through the crowdsale, once the system is released from Beta - XAP coin holders will be able to access the API Network to pick and choose which API they want to use i.e. if you design a better Facebook API then users will choose your offering, and you will get paid in XAP coin.

The ways to earn XAP coin are modeled after the Maidsafe SAFE's network, where nodes who provide a service to the API Network will be rewarded based on the number of API call/pull requests.

The only way to obtain XAP coin is:
- earn them
- buy them at the crowdsale starting June 18th
 

Theres an amazing line up of speakers for the Bitcoin conference at Beltway this year. Checking this one out because it's a different event compared to all the other Bitcoin conferences out there which talk about pretty much the same thing.

I've been told this is one of the best conferences you can attend this year to really meet the people behind the Bitcoin community. Plus Andreas Antonopolous is going to speak, and that alone is worth the ticket price.

Here's some of the line up of speakers:

- Patrick Byrne, CEO of Overstock.com
- Andreas Antonopolous, Let's Talk Bitcoin, RootEleven
- Matthew Roszak, SilkRoad Equity
- Chris Odom, Open Transactions
- Stephanie Murphy, Let's Talk Bitcoin, Let's Talk Live
- Tatiana Moroz, Tatiana Coin
- Vitalik Buterin, Bitcoin Magazine, Ethereum, Kryptokit
- Cody Wilson, Defense Distributed, Dark Wallet
- Anthony Di Iorio, Bitcoin Alliance of Canada, Kryptokit, Ethereum
- Blake Anderson, Cryptographic Economist
- Jeffrey Tucker, Chief Liberty Officer of Liberty.me
- YTCracker, Bad Ass MC/Bitcoin Baron
- Cathy Reisenwitz, Sex and the State
- Kyle Drake, CoinPunk
- Charlie Shrem, BitInstant

If you want to come down, it's happening at the Washington DC Downtown Renaissance Hotel from June 20 - 22nd.

And if you want to save $100 off the admission price, register online here: www.bitcoininthebeltway.com

Awesome post about Vitalik at the Beltway conference on reddit:


Bitcoin in the Beltway is the conference they don't want you to know about!

XAP Coin is now released - go to www.buyxap.com
- designed to incentivize developers for their APIs
- capable of powering an open-source decentralized marketplace
- will cache and store API network data using Maidsafe's SAFE Network

The official announcement is coming out on Monday, June 16th is out today and we are bringing you this first as we want the Bitcoin community to be involved! Please take a look over our project and get our own XAP coins on June 18th when it launches to the public!

The announcement went out to the press today check out http://www.reddit.com/r/APInetwork/comments/28h095/official_press_release_for_api_network/


Advantages:
- No ASIC/Scrypt mining
- Use the same Bitcoin wallet
- Be rewarded for developing your own API

How does it work?
- new XAP coins are released when nodes provide a service to the network
- XAP coins are required to access the API network services
- XAP coins can be earned by sharing your private APIs

Why XAP coin?
- Because we believe it is possible to completely decentralize the personal computing environment
- The world needs an API Marketplace to help end users integrate applications across all platforms
- An incentivized token system will drive the growth of an open-source environment
- The API Network intends to use the SAFE Network to host its APIs and other content in a decentralized way and thus produce these SAFE coins which will be used to obtain APICoins on the Master Protocol Decentralized Exchange. These purchased API Coins (XAP) will be sent on a regular basis to the holders of API Coins (XAP).

Get XAP coin
Starting on June 18th 2014 at 11 AM U.S. Central time, anyone sending Bitcoins to the "API Address" is recognized by the protocol as purchasing API Coins (XAP).

- The first 500 XBT (BTC) sent to the "API Address" will generate 1 API Coin (XAP) for each 1.6 mXBT (millibits / 1/1,000th of a bitcoin).

- The next 1,000 XBT (BTC) sent to the "API Address" will generate 1 API Coin (XAP) for each 2.13 mXBT (millibits / 1/1,000th of a bitcoin).

- The next 2,000 XBT (BTC) sent to the "API Address" will generate 1 API Coin (XAP) for each 2.66 mXBT (millibits / 1/1,000th of a bitcoin).

- The last 4,692 XBT (BTC) sent to the "API Address" will generate 1 API Coin (XAP) for each 3.2 mXBT (millibits / 1/1,000th of a bitcoin).

The details of the pricing of the API Coins (XAP) during the crowdsale event can be found on this Google Doc: https://docs.google.com/spreadsheets/d/1Jo58sfAfXJ05ZUylzf9dGDbJ2ngPlDbCZ2B6FSP_xBc/edit?usp=sharing

Attempts to send funds to the API "Address" on or after 11 AM (central time) July 18th 2014 (as determined by bitcoin block chain records), will not be considered APICoins purchases and shall be sent back to the originating Bitcoin wallets in the form of Bitcoin minus transaction fees.

The total number of APIcoins generated during the crowdsale shall be limited to 3,000,000. Any APIcoins generated after this point shall be invalid and the bitcoin sent for their generate returned to the sender.

6/17 - Live broadcast with the founders of API Network: https://www.youtube.com/watch?v=EKgb61yQNHs&feature=share]6/17 - Live broadcast with the founders of API Network: https://www.youtube.com/watch?v=EKgb61yQNHs&feature=share

Bitcoin address for XAP coin: https://blockchain.info/address/12Stz3hoF1sY9J12GyMhsAGBa16vWrmufG

Want to know more?

The Git for opensourcing is here: https://github.com/APINetwork/personal-data-module
Check out the website at buyxap.com
Read the whitepaper and details about the protocol at https://github.com/APINetwork/ProtocolSpec
Visit the API Network at http://www.apinetwork.co/
Stay updated by joining our Developer group here: https://plus.google.com/u/0/communities/116050453698554265785

June 15th - due to overwhelming response, please see the below details:
Use of the XBT (BTC) from the Crowdsale Event:

-Buy the intellectual property and codebase to jump start the development of the API Network from Engine Inc. (website www.Engine.co) related to API and IMAP interfaces and then open source that code to the API community. Cost 900 XBT (BTC) and 2,000,000 API Coins (XAP) to be generated at the end of the crowdsale event.

-Buy additional intellectual property and codebase related to Exchange and other common data standards and open soure it the API community.

-Buy crypto currency in the protocols that API Network is built on top of. For example after the purchase of intellecual property and code from API services as described above, 25% of the remaining XBT (BTC) collcected during crowdsale will be used to puchase MSC, SAFE, and any other digital token that it functions on top of in order for the API Network to hold a stake in the platforms it is built on top of. Thus holding a mix of XBT (BTC), MSC and SAFE provides the API Network with a longterm stake in the future of these protocols

-Engage core developers to work full time to impliment the API Network protocol into a functional client. The Role Based Bounty system will be engaged to accomplish this.

-Engage community members in bounties and challenges build up the number and type of APIs available on the API Network.

June 18 - Official Press Release statement:
Official press release went out today:
http://www.reddit.com/r/APInetwork/


API Network Crowdsale to Advance Plug and Play API Marketplace Developers of the API Network (http://www.APINetwork.co), a plug-and-play, open source API marketplace, today announced that the API Network will be launching its crowdsale of digital tokens (known as XAP) this Wednesday June 18th 2014.

Austin, TX (PRWEB) June 18, 2014 -- The API Network empowers developers to expand the functionality of their applications without the need to repetitively learn different proprietary APIs. Beginning at 11:00 A.M. CST on June 18th, the API Network will launch API Coin (XAP). XAP will be the token in which the API Network marketplace transacts. The digital tokens will be issued using the Master Protocol, a secure layer built on top of Bitcoin that enables the creation of smart properties. A total of 3 million XAP tokens will be generated during the crowdsale which represents 30 percent of 10 million tokens total that will ever be issued. XAP will be released in stages based on volume, rewarding early participants with a significantly lower price for XAP.

Web service owners are incentivized to connect their APIs to the API Network in return for compensation in API Coins (XAP) for calls made to their web service APIs. Developers pick and choose APIs from the API Network marketplace as building blocks to their own applications. End-users begin playing with those applications and XAP are then rewarded to the web service owners bringing the API Network full circle.
Curtis Lacy, the API Network’s lead architect presents a bold mission statement. "The goal of the API Network is to take all the APIs in the world, and provide a universal mechanism for querying them. APICoin (XAP) will provide a transparent and distributed way to compensate developers and service providers for their effort."

Curtis has served the past two years as Engine, Inc.’s Chief Technology Officer and has led development on several crypto projects backed by the BitAngels Network.

Engine, Inc. (http://engine.co) is one of the first web services to plug in with the API Network’s marketplace. Engine’s API makes it possible for future applications to read, organize, and search all of an end-user’s messages between Gmail, Facebook, Linkedin, and 24 other platforms.

For more information, please visit API Network’s website at http://apinetwork.co or e-mail info(at)apinetwork(dot)co.

Hey everyone, wanted to share that Bitcoin in the Beltway is happening this year in Washington, DC from June 20 - 22nd!

We got a great line up of speakers including Patrick Byrne, the CEO from Overstock.com, as well as the very popular speaker - Andreas Antonopoulos who will come share their thoughts about Bitcoin. We have 5 different speaking tracks from Bitcoin Business, to Law and Policy, and my favorite: Bitcoin for Good. If you're interested in Bitcoin and haven't been to Bitcoin in the Beltway before, come down on June 20th and join us. We welcome new friends and old acquaintances.

Plus a portion of the proceeds goes right to Seans Outpost - Homeless Outreach

Grab your ticket here: http://www.bitcoinbeltway.com/tickets/
Save $100 off the price of admission when you purchase online

Where:
999 Ninth St, NW
Renaissance Hotel, Washington DC

When:
June 20 - 22nd, 2014

How to get here:
Car
Plane
Boat
Sherpa

Already coming?
Let us know by posting on our reddit here: http://www.reddit.com/r/Bitcoin/comments/1ujj2s/bitcoin_in_the_beltway_washington_dc_conference/

#bitcoinbeltway

Hey guys - thanks for posting on this thread!
Tatiana has been busy with creating new content for the Tatiana Coin and she wanted to share this video from today: https://www.youtube.com/watch?v=LTQUzg4-b_w

If you're interested in buying Tatiana Coins she would love to hear from you! Please tweet, hashtag, and like the Facebook page at https://www.facebook.com/tatiana.moroz

GENERcoin launches at 8AM Pacific tomorrow, June 11th and will be for sale for 30 days unless the coins are sold out before then.
We've planned this crowdsale differently than others and will be rewarding people for participating based on volume sold.

We would like ensure that everyone who is interested can participate - the Distributed.buzz team and Arterran Renewables are available on standby.
Please PM me if you would like us to help

I respect your concerns - GENERcoin is backed by renewable energy. Arterran Renewables and the GENERcoin are not in the biotech industry and certainly oppose anything against  sustainability. The creation and sale of Arterran Renewables NextGen Solid Biofuel backed GENERcoin is to bring the world one step closer to the vital reality of a world no longer in need of fossil fuels.