Milestones:
https://github.com/skycoin/skycoin/milestone/2

Progress:
https://github.com/skycoin/skycoin/pulls?q=is%3Apr+is%3Aclosed

Fractional coins need testing.  All other significant code work is done. Then we need to do QA testing.

Infographics bounty increased to 30 SKY

The nodes that receive rewards are Skywire nodes.  They are not Skycoin blockchain nodes.  Although skywire will be used for transmitting skycoin blockchain data eventually, as any data will be able to be sent over skywire.

You may be surprised to know but a web wallet in which you do not run a node requires a central server in operation and of course becomes unavailable when the server shuts down.  It is also vulnerable to DNS hijacking, MITM and a handful of other attacks. The server itself could become compromised.

Anyway, we have one planned since people prefer the convenience despite the risks.

https://github.com/skycoin/skycoin-cipher-web

This is the code for in-browser address generation and transaction signing for Skycoin. Just hasn't been turned into a app.

Our efforts are focused on improving the desktop wallet first.

Make sure you save C:\Users\[Username]\.skycoin\wallets or have a backup of your seed first

Go into the telegram bounty channel and ask if an article is being worked on first.  Russian and Chinese is usually assigned to someone though

Bounty program update:

GIF bounties have been removed until we clarify what we are looking for, people are just submitting low-effort giphy GIFs

Translations

Translate posts from the blog. https://blog.skycoin.net/

Accepted languages are:

• Deutsche
• Español
• 日本語
• 한국어
• 中文
• Рyсский

We may add more languages later but aren’t able to verify translations for other languages yet.

Every 500 words is 5 SKY. For example:

• 1-500 words: 5 SKY
• 501-1000 words: 10 SKY
• 1001-1500 words: 15 SKY
• …and so on…

At the bottom of each English-language blog post, the reward for that article is shown.

The post must not already be translated.

If a post is already translated but you find mistakes or improvement, we can give a small reward as appropriate.

One or two other native speakers of the translated language must review the translation to check its quality. Bad translations will not receive a bounty, although you are free to improve it until it is accepted.[/list]

Skycoin Bounty Program is finally starting, read this for details:

https://blog.skycoin.net/statement/skycoin-bounty-program-1/

Telegram channel for bounties: https://t.me/skycoinbounty

Bounties

Infographics about Skycoin, Skywire meshnet, BBS, CXO etc.

* 15 SKY each

Youtube Videos (e.g. vlog type material) about Skycoin in general

* 1 SKY per 1000 views
Must be from relevant (e.g. cryptocurrency related) youtube account
The video must be original content (or sufficiently modified derivative content).

Production Promotional Videos (e.g. describing skycoin technology)

* 150 SKY
* You can also post this to your youtube channel and collect that bounty
* Skycoin may use these on their own youtube channel or on the skycoin website

GIFs

* 20 SKY each

Blog posts, articles

* Negotiable based on views, publishing outlet, quality.
* Contact us ahead of time until we establish a way to value written content.

Please be sincere with content produced for the bounty program. If something appears to be done in bad faith we may reject or reduce the reward (for example, fake youtube views or sloppy infographics).

Special bonus for active community users:

* skycoin subreddit: https://reddit.com/r/skycoinproject
* 10 SKY - 100 skycoin subreddit posts
* 100 SKY - 500 skycoin subreddit posts
* 1000 SKY - 2500 skycoin subreddit posts

If you have other ideas for promoting skycoin that deserve a bounty, please suggest them in the telegram channels.

Fractional coin support and timelocked distribution are in the v0.20 milestone, which also includes a new wallet.

This is the v0.20 milestone tracker:

https://github.com/skycoin/skycoin/milestone/2

Timelocked distribution is already merged to the develop branch.

25% of the coins are immediately distributable (although we do not intend to distribute these in less than 1-2 years, and maybe up to 5 years).
Once this 25% is distributed, another 5% immediately becomes distributable (with a software update; the timestamp of the block that reached 25% distribution will be hardcoded).  This 5% is the first unlocked year and each subsequent year will unlock another 5%.  There is no requirement to spend the 5%, the unlocked amount will accumulate if unspent.

We are considering slowing down the timelock even further:

* 5% each year for 5 years
* 4% each year for 5 years
* 3% each year for 5 years
* 2% each year for 5 years
* 1% each year for 5 years

This make it last for 25 years instead of 14, and is better suited to our growth forecasts. Note that for technical reasons, locking is handled in 1% chunks, otherwise we would be doing exponential decay.

Fractional coin support requires some API changes.  Internally, the blockchain always supported up to 6 decimal places, but some APIs are using whole coins instead of 1e6 coins (droplets).  This is a priority because it affects the minimum exchange withdrawal fee.

Someone mentioned a bug about 0 balance.  I am not sure if this is the wallet frontend or because of the database file in the ~/.skycoin folder.  You can try deleting the *.db files in ~/.skycoin (do not delete your wallets!).

Wallet encryption is another important feature request but it is set for the v0.21 milestone.  We want to get the new wallet out first and add some improvements to assist in exchange integration for our coin.  One of the difficulties with getting skycoin listed on more exchanges, is that it has its own API so the exchanges can't reuse their bitcoin or erc20 code and add it in an afternoon.  So we are trying to make the integration process smooth for them.

Skycoin wallets use a bip32 mnemomic seed by default. The addresses in the wallet are generated deterministically.  So with this mnemonic seed, you can generate infinite addresses.  As a workaround to the lack of wallet encryption, you can memorize your mnemonic seed and delete the wlt file in ~/.skycoin/wallets.  Note that you will have to delete the wlt file after you close skycoin, it might save loaded wallets on shutdown.

We will be adding "temporary load from seed" for wallets in v0.21, which will not save the seed in the wallet file.  We can also do electrum style encryption, where we use a master key to encrypt the wallet files.  Each approach is different.

Update:

We have a mobile wallet. Check the github https://github.com/skycoin/skycoin-mobilewallet

We have prototype of skycoin wallet compiled to run in browser. See https://github.com/skycoin/skycoin-cipher-web

We have a new desktop angular wallet, written from scratch. This is already in github, pull and test it out. Its about fifty times faster than the previous wallet. This will be in version 21.

The BBS is behind schedule but is supposed to working against in next two days, then launch.

The ICO was test for backend infrastructure. And will have new OTC infrastructure soon and even allow you to convert between Bitcoin and Skycoin within the wallet (Shapeshift type is in development now).

The third version of the Skywire Miner hardware is done. New PCB board arrived. Assembling the first six units. Then doing the first production run of 300 Skywire Miner kits via factory in Shenzhen.

We are working on Skyledger.net for all of the Skyledger coins (like Skycoin's ERC20 tokens). We have SunCoin doing an ICO right now and will exchange traded in Swiss commodities exchange by April. And we have five other tokens launched on the Skycoin platform already.
- http://solarbankers.com/

We are going to announce an exchange for all of the Skyledger tokens soon.

The Skycoin community size has more than doubled in the past two weeks.

New website will finally explain the components of Skycoin and where it is heading.

Distribution Problem Solved:

After the time lock, the total Skycoin will be ~20 million (not 100 million) and increasing to 30 million, then expanding at 5 million per year for 14 years. Almost 50% of the 20 million has been distributed already.

The coins from 20% to 30% are network incentives and might be distributed over ten years.

The 30% to 100% will be distributed at a max rate of 5 million coins per year, over a minimum period of fourteen years. Yearly dilution is capped at a maximum of 16.66666... percent per year.

People complaining about "devs have bla bla bla" percentage of the coins are complaining about coins that wont exist for +20 years.

The new API changes includes the time lock and will calculate the spendable coins correctly, resolving the problem forever.

We stand triumphant over this gordans knot.

We have enough money for years. Unless we increase the size of the development team by 4x.

We are going to rapidly get to 15% and then 30% distribution, then the rest coins are being time locked to 5% per year additional distribution. The planned distribution period was always at least 20 years.

After the time lock, the total Skycoin will be ~20 million (not 100 million) and increasing to 30 million, then expanding at 5 million per year for 14 years. Almost 50% of the 20 million has been distributed already.

Once we get to 20% distribution, LISK will be complaining about something else. Instead of trying to figure out what Skycoin is even supposed to do. He is comparing the coin to some IoT coin (wtf?).

We still think the Skycoin consensus algorithm is better than both Bitcoin and IOTA, makes better security guarantees and is simple. You cannot even compare them. Once the crypto and networking stack are implemented and its debugged, its flawless. It will run for a thousand years without modification and no one could imagine any improvement worth adding the additional complexity.

We do not see a future for either PoS or PoW based coins, because newer algorithms are vastly simpler, superior and offers instant transaction times instead of hours.

These question are non-constructive.

The only thing that matters is the project goals and how they will be achieved.

Irrational Negativity.

Irrelevant questions.

IOTA is doing DAG. Skycoin is not doing DAG, but a new consensus algorithm to replace PoW/PoS. IOTA and Skycoin are similar but different approaches.

Skycoin does not keep sensor and IoT device data on the blockchain. The Skycoin blockchain is only for transaction data. Everything else is pushed off blockchain with CX, CXO and Skywire.

Skycoin can do DAG later (was designed from the start for this). However, we decided not to do DAG, because it violates one of the core requirements, which is a finite resource upper bound for network operation.

>IOTA has come out now and is operational with everything skycoin planned.

Lol. No.

Wait until you see the new Skycoin website. I do not think you understand the project scope.

IOTAs website says they are doing something in IoT. I dont see what this has to do with Skycoin.

We dont set the market cap. It is set by the market.

When we get to 30% distribution, then most of these issues will be resolved.

>Restricting supply is one way of controlling price but that is just not a good practice in my opinion.

Skycoin has a lot of buy and hold people. Less than 1% for the distributed coins are trading the on the exchanges. That means people are holding.

This means there is long term confidence and expectation of "an explosion of value".

However, it also means that liquidity is thin (you cannot buy many coins without the price exploding to insane levels) and volume is low (if everyone is hoarding the coin, few people are actively trading on it).

Remember what happened to ByteBalls and IOTA. Byteball was $0.10 and exploded to $700 in less than three months. Even during extremely heavy distribution and coin drops (which Skycoin is not doing).

Then once ByteBalls was at $700 people were screaming "FUCK" out their windows and "I should have bought that" etc...

The price explosion happened after the distribution rounds finished (which were preannounced and to the Bitcoin holders). Then after coin distribution/taper ended, then consolidation and price increase happened.

The reason ByteBalls appreciated so quickly, I think was the distribution taper. For Skycoin that occurs at 30% distribution after the coin time lock.

===

We could also try a ByteBalls style distribution, now that we have the sky-messanger bot. We could drop 1 to 5% of the total coins, proportionally to existing BTC/ETH holders proportional to number of coins that participated in the event.

You would have to register a bitcoin address (which must have never been used before a given block) from your wallet, then you must hold BTC in the address during the lock/drop period. Then we add up all the Bitcoin across the registered addresses and do drop.

I think, maybe we could do that around the 20% distribution mark, as a possible distribution event. And would help get to the 30% distribution and the time lock, where the distribution taper falls off.

Doing a 1% Byteballs event makes sense in first drop as a test to see the reaction.

It may make sense to do this at the 10% or 15% distribution point also.

That would be a good experiment.

We already announced price to media and press releases went out, so could not change price without causing massive confusion.

Also, we ended up being lucky, because it gave us opportunity to find and fix bugs in the ICO back-end infrastructure. We have some minor errors to fix and things that were not logged enough to trace source of error.

So if we has 25,000 orders all at once, it could have been support headache. We did not know insufficient information was logged at the start of the ICO.

This is the main thread -> https://bitcointalk.org/index.php?topic=380441.3200

Skycoin has been expanding off of bitcointalk.

Main page [WIP] -> https://www.skycoin.net
Blog -> https://blog.skycoin.net
Telegram -> https://t.me/Skycoin
Source code -> https://github.com/skycoin

We are most active in Telegram now.  

We would use Slack too, but their app is so slow I can have 200 open tabs in a browser no problem but when I open slack everything goes to shit.  Telegram sucks in general but does is not digital sludge.  Whatever happened to IRC?

This thread was also real but was a mistake.  It is not scam.  Skycoin has never scammed anyone. You think we write software for years to run scam? We are capable of building a new coin from scratch with its own consensus algorithm, but we are too stupid to scam you like many other coins have done? The reason you get scammed is because you cannot read, you cannot tell difference between real coin and scam, so you call Skycoin a scam and buy bullshit.

Skycoin has things together for marketing and promotion now.  Sorry we did not try to lie and hype you with no product first.  I recommend you join the telegram group for updates.

Pretend, that a load of bread is $1. Pretend that only 1 million dollars exists in the world.

The FED doubles the amount of money in circulation. The price of bread goes to $2.

---

What happens if the number of Skycoin in circulation doubles?

A> The market cap doubles. The price per coin remains constant

B> The price per coin halves.

A or B.

This is important to understand.

There are coins with 300 million valuation or nearly billion dollars and a few over a billion dollars, where the reported free float is 60x higher than the actual free float. People see the market cap at a billion dollars and they think the coin is "worth" billions of dollars, but if they tried to sell the coin they could not get more than 20 million dollars out before the price went to zero.

People coming into this bubble, just see the volume and market cap and say "Other people are pricing this at a billion dollars, so it must be worth a billion dollars". And just buying whatever they see and are familiar with.

There is a lot of room for manipulation and there are a lot of misconceptions about how these market caps are calculated and how the "markets" actually work.

What matters in the long term, is the fundamentals. Everything else can be faked.

The coins that are doing the best are the ones that are most aggressive with the market manipulations.

Its going to be like the dot com bubble looking back, with pets.com trading at $11. People are going to ask why networks with no revenue or reason for people to use them, are priced at billions of dollars, when they have hundred million dollar a year capital outflows from operating/mining costs, which can only be sustained by a speculative bubble.

---

The Skycoin market cap is actually ~25 million. It is not 600 million (yet).

If the number of coins in circulation is doubled, the price per coin will go down by half. The market cap does not go to 600 million.

---

If you ask me, there are only two or three projects with any real chance at all of replacing Ethereum or Bitcoin. The number of projects working on the core technical issues instead of marketing gimmicks is almost zero.

So on long term, if you said the market cap is 600 million, I would say it is under-priced and still cheap.

I think we are going to see a lot of coins in the 20 billion to 80 billion dollar market cap range eventually.

There are no economic fundamentals anchoring coin prices to anything in reality, unlike the dot com bubble, that only reached trillions of dollars.

> Even whales wouldn't waste money.

You cannot actually buy Skycoin on topia.

There are caps and its just a mess. The whole coin price is being rigged by one bot, who will pull out 40 btc of sell orders as soon as the price goes up. You cant actually buy the coins.

He buys when price drops, then sells at $4. Then if you try to go above $4, the bot pulls out the sell orders.

>Genuine question, have you managed to actually sell much yet in this distribution?

This was not meant to sell.

The orders would normally start filling when price appreciates to that level.

This was to solve three problems
1> To test the marketing team.
2> New infrastructure test. This is the new OTC bot backend and will eventually be integrated with the exchange trading and wallet. We set price high, because are not ready for large volume and are still handling bug fixes. Like during start of event, the backend failed for send-to-many transactions and later we found out users were not sending a multiple of 0.002 BTC.
3> Whales and small number of people. The ICO does not matter to much to them, because they are going to do OTC anyways.

Marketing Team:

Another very important objective is to use this event to test the marketing team. And see where there are capacity gaps and what is working and what is not working.

We have to keep drilling them, until everything work smoothly. And we have to find out if we are missing skills, or do not have enough people.

They failed completely last two attempts at an event. This time did a bit better, but we still probably only have 50% staffing and they are still uncoordinated and ineffective.

They had two weeks to get ICO site listings up and waited until 4 days before the ICO event to start getting it listed on the ICO websites. However, they did get Skycoin listed on 8 of the 12 ICO websites.

We do not have a full time infographics/vector graphics/marketing person, for producing materials for twitter/telegram/facebook. And that is a major shortcoming we are trying to fill. We have hundreds of info-graphics and technical diagrams that need to be made into production/marketing content.

We have two vector graphics people and they did not invoice or bill hours for a month, meaning no one was using them. So we have +150 infographics and content, but no one on the marketing team was making sure this was produced into something we could distribute on social media or use on the website. So this pipeline needs to be filled out immediately and we need to determine why this is not getting done.

We also have a major documentation gap on the website
- there is no page for skywire
- there is no page for cxo
- there is no page or index for the github repos
- there is no dedicated page for viscript
- there is no dedicated page for the skywire/miner hardware
- there is no dedicated page for the bbs app
- there is no dedicated page and documentation for CX
- etc

So we have assigned the development teams to start making sketches and writing text for pages to go on the website and explain what is done and what is the purpose of each of the components.

Then there is only a single web designer and he is overloaded. He cannot handle the volume of content and changes, so we need to get more than one person.

Translations were quick and went very well for Russia, Chinese, Korean, etc. Our translation pipeline is working very well.

Our twitter was not working until 4 days before the ICO There are now constant tweets.

We still do not have a reddit community and are trying to obtain the sub-reddit, but it is a slow process.

The facebook and twitter ads have not started yet. CoinTelegraph ads have not started yet. None of the ad campaigns were ready by the start of the ICO

We have no video production group/capacity yet. Even through we hired people months ago to do story board and production, they were ineffective. So need to find people able to get this done. However, everyone is telling us that the videos do not matter too much for marketing and are a waste of time/money.

We have no one making ad copy and banner ads. And we need team member for this. It is major bottleneck. The are reusing ad-copy because we do not have a dedicated person creating new ad and banner copy.

However, we did drive a lot of traffic to the project and the traffic volume was good.

The marketing team performance is still only at 20% right now. And has not achieved competency in all the required areas yet. So we are trying to restaff and recruit from the community and fill in the capacity gaps.

Uniform OTC System:

The existing ICO is infrastructure test for a new backend. And still fixing bugs, so is better to set the price very and fix the bugs, then delay. Also test the marketing team.

The backend is working well now.
- we removed CLI exec and used web-rpc for security
- rate limiting and DDoS protection is working well
- we had problems loading 100,000 BTC addresses into electrum and getting it to sync for the watch wallet, so some improvements here
- we fixed a bug where send-to-many transactions were not handled correctly. Now works perfectly
- we have new security measures and offline wallets, improved encryption and wallet handling procedures. None of the online connected computers have any bitcoin private key on them and we are using offline genned addresses completly now.

Then we will add ETH deposits and test that.

Confusion on Website:

There are two major issues
- navigation is confusing and most users cannot even find the ICO page
- some buttons were confusing or were not translated into Chinese and caused mass confusion
- the event page, did not tell people that they had to send a multiple of 0.002 BTC (some people sent 0.0014 or non-multiples of 0.002)

The navigation is being improved now so that is less confusing.