Its the same as Bitcoin.

There are existing/issued coins. (ex. 1 million coins exist)

There is a supply or issuance cap (ex. 23 million maximum coins)

There is a tapered and decreasing, relative rate of coin issuance according to a schedule.

---

>So the actual market cap of all Skycoins out there is actually 600 million.

We did multi-agent simulations and modeling of this. It is actually a fallacy/misconception.

Because releasing all the coins, would suppress the market price. If we dumped all 100 million coins RIGHT NOW. The market price would still be 23 million.

If the number of coins in circulation is increased 10x, then the price for each coin declines to 10%. That is because what matters is the per capita capital inflows and coins per user.

Increasing number of coins in circulation, does not increase the market cap. It decreases the price per coin.

So for instance, if we have a 20 million dollar valuation right now. AND we increase the user base size by 30x, the valuation will be 600 million (which is where Qtum is right now).

This is why everyone is making so much money investing in altcoins. The userbases are expanding at an exponential rate (new market), that is faster than the debasement from mining rewards.

If we double the number of coins in circulation, then the market cap is the same. The price per coin, just halves.

---

The mathematics is not intuitive and what you expect.

Every time the coins in circulation are doubled, the price per coin goes down 50%. That is why going from 6% to 10% is hard, while keeping the price per coin up (~50% dilution). And why going from 10% to 20% is hard (50% dilution).  But why 20% to 10% and everything after that is easy.

A user base can grow 10x or 100x or 10,000x, easily. It can grow exponentially and nearly infinitely. However, the number of coins that will ever be in circulation can only increase 10x from the point that 10% of Skycoin reach circulation.

The key thing also, is that even given constant user base size, the price increases as the distribution of new coins tapers and declines. This is because of capital flow affects (money into the coin vs money out).

---

So to summarize, the market cap is a constant.

Doubling the coins in circulation (doubling the free float), reduces the price per coin to half (halves the price per coin). The market cap however, stays constant.

Skycoin was designed from day one for DAG.

The major problem with DAG, is that there is nothing to upper-bound the CPU/bandwidth usage of the network.

With Skycoin, we can limit the network to use 5 KB/s and we can put hard upper bounds on the CPU, memory and bandwidth usage. This will be very important in a war scenario, submarine cables being cut or if governments start aggressively blocking VPNs and applications.

Or if everything is working correctly, we can do 300 transactions/second or as many as needed. But during stress or crisis, the resource upper bound can be cut back and hard capped. This is really important in many situations.

The biggest threat, is not attacking the network the way people imagine it. The biggest weakness of the existing coin designs is denial of service attack and spamming the network with junk data.

With a tangle/DAG, it is too easy to spam the network with massive amounts of transactions and increase the bandwidth/CPU usage, until nodes start dropping off.

Even if Skycoin moves from blockchain to DAG, we will still be using the consensus infrastructure and created another metric called "CoinHours" to rate limit the global transaction rate.

Whole countries are going to block VPNs, block foreign websites and cut themselves off from the global internet within twenty years. They are going to mandate special domestic network protocols. They will (and are) using machine learning to identify particular types of traffic and drop them, redirect them or cut them off.

The Skycoin architecture was designed for high reliability in a cyber warfare scenario, with active attempts at detection and termination of network connections, fixed CPU/memory constraints and potentially an upper cap on bandwidth.

---

For instance we will have "Sky-messanger" and ability for machine to machine communication by public key
- Sky-messanger will have multiplexer and multiple redundant channels or connection methods available, including CXO mutual pub-sub, direct TCP/ip connection (TOX-like), skywire (multi-hop, pluggable transport, like open-flow), etc

Then we will have an "asynchronous wallet". That runs through sky-messenger. So that even if you do not have enough bandwidth/storage/cpu you can still get wallet updates and inject transactions (thin client). And this will work, even if the network is extremely limited and connectivity is unreliable and available bandwidth is limited. This will even work over SMS channels or HAM radio and will very light.

So we have different "degrees" or level that a node can operate at
- ultra-thin client (ex. mobile wallet that just can check balances and send, get streaming history updates, etc)
- normal node (fixed bandwidth, CPU, RAM upper bounds)
- super-node (cluster of +16 arm boards (the skywire miners), skywire nodes, route topology information, CXO nodes, content (BBS nodes, etc), skycoin thin client access points, dedicated hardware interlinks to other clusters, etc)

So while a normal client only takes input from a finite number of nodes for consensus, etc

A super-node might have subscriptions and peer-to-peer replication of every pubkey/node participating in the whole consensus network. It may also have a full route and topology map for the whole skywire network and would be exposing services and APIs to other nodes.

So we "finished" the blockchain part and then we are expanding out in another direction. The "blockchain" part is "done" for now and the other parts of the network become much more important to the future direction, because there is nothing with the blockchain we can improve beyond the existing architecture/design.

So the low hanging fruit is at the network architecture level, the application layer and we are almost done innovating or making changes with the blockchain layer completely.

=== FileCoin/IPFS vs Skycoin

We have been asked what is the difference between CXO and IPFS.

File Coin has the same objectives as a part of the Skycoin infrastructure, but is taking a different approach. They have three separate protocols
- IPLD
- IPFS
- Multi-formats

- IPLD is a representation language for immutable data objects and hashes.
- IPFS is a file system
- Mult-formats is a self describing data standard

In Skycoin CXO does all three of those
- Multi-formats is just a "schema" in CXO
- IPLD is just CXO (immutable data structures, hash chains, replication, merkle trees etc)
- IPFS is just an application on top of CXO (CXO is immutable object system and files are just objects, so do not need special treatment because files are just a type of object)

FileCoin does "proof of storage". While Skycoin takes a different technical approach, because we think proof of storage is too complicated and is not really what the user wants and its not actually the bottleneck.

IPFS/IPLD/Filecoin is designed to integrate into the existing web-infrastructure and javascript. While skycoin is implementing a new eco-system de-novo (skywire, CXO, CX), because the existing ecosystem lacks required mathematical properties (javascript is not deterministic, implementations vary between browsers, cannot be used to embedded on blockchain or used to full potential because of legacy issues).

And additionally, because privacy and security is not something that can be duct taped on to the top level of a stack, but requires the proper design of every component from the hardware, up. Skycoin takes a mathematically strict, elegant approach that allows a simpler implementation by having a self contained standard and eco-system.

So file-coin will integrate with the existing internet and will just be a javascript library that can be imported. Skycoin will have a new internet with parallel protocols and hardware.

The roughness and impedance mismatch is always going occur at the system interfaces and skycoin took take the approach of minimizing the components to the minimum, being self contained and minimizing dependencies between the modules. One of the reasons we did not do "proof of storage" for incentives was that it required making file storage a dependency upon the blockchain and we felt file storage already operates efficiently, without adding the overhead of a blockchain, so that this was not the right place to put the user incentives.

We did not want to build a "new internet" that simply shuts down like an arcade machine because the user did not put in enough coins. We did not want the user experience, to be having to pay for every single feature, button click, file download or action, when each action is effectively costless.

So Maisafe, Ethereum, FileCoin/IPFS, are all taking a different approach and philosophy, but heading in the same direction. There are substantial differences in scope and technical implementation
- Ethereum tries to put everything in the world on a single blockchain (while skycoin puts almost nothing on the blockchain, except coin payments. Skycoin has an individual blockchain for its version of ERC20 tokens, instead of putting all the tokens on a single monolithic blockchain)
- MaidSafe is concerned with identity and has the least blockchain (while in MaidSafe there are global identities, in Skycoin Identities are just public keys and are pseudo anonymous. MaidSafe does not actually have a blockchain)
- FileCoin is concerned with proof of storage and only file storage (Skycoin also includes communication and computation as primitives. Skycoin's storage mechanism is independent of the blockchain and is only monetized indirectly)
- Golem is only concerned with renting out servers/GPUs by the hour for coins (which is the same as EC2 that takes Bitcoin and will just be a minor feature of more advanced networks)

One of the problems in the Skycoin Project, is that the documentation and whitepapers only cover the work on consensus (two years old already) and have do not show the current development work and ecosystem. So the website needs to be updated and we need new white papers about each of the sub-projects.

The development is significantly ahead of documentation. For instance CXO applications (BBS) are already in testing and light usage, while the white paper for CXO still has not been written yet.

So we are still catching up on the marketing and communication back log.

The whole point of this distribution was for the tech VC, whale cartel, and Korean/Japanese whales.

Its not for public.

Everyone is messaging and asking for a different price and wants large blocks OTC at discount to  market and we do not have a uniform process for handling this. So we are testing policy of doing the larger OTC blocks above market, then using the bitcoin as automatic price support.

The starting ICO valuation was very high, making distribution difficult and we have several options.

- For instance, we may do ninja announcement of a coin burn of 80% of the coins (reducing total supply permanently to 20 million)
- We may hard cap coin distribution to 5% per year
- We many do network incentives at the maximum rate that will only half the coin price regression line, while targeting 20% or 30% distribution, before a hard-cap of 5% distributed coins per year

We are going to do series of OTC sales and distribution events up to 10% (from 5.8% currently).

Once we are at 10%, then getting to 20% is only a 2x dilution.

Then from 20% to 30% is only 50% dilution in price per coin. And we will see what effect distribution through incentives for network participation has (bbs, skywire, etc).

Then cap of 5% max per year.

=== The Critical Period

The critical and trying period for Skycoin is where we are now, going from 5.8% dilution and low volume to 10% distribution.

We are doing OTC sales with the whales, to build up a Bitcoin fund for price support to reach the 10% distribution milestone.

At the same time, we are going to build liquidity by listing on larger exchanges. And also launch the first applications for public
- sky-messenger
- mobile wallet
- skycoin hardware for skywire network (skywire miner)
- skywire
- bbs application
- web-wallet
- viscript (orchestration and control for multiple skycoin/skywire/cxo nodes)
- CXO daemon (used by BBS)

So this distribution event is for people with too much money, who have researched the project, to buy 300 BTC blocks of Skycoin. Whales and VC, institutional investors, etc.

Also, for infrastructure testing. The existing ICO infrastructure will work for an OTC bot, so there will be a uniform process for handling OTC sales at spot price.

=== ICO trouble

We did regression line and the price should have been at 0.002 weeks ago by now.

However, someone (we presume who bought a few dozen BTC of skycoin early on) keeps selling at the $4.00 price point and it is taking weeks to eat through however many Skycoin he has. And we have been watching this for weeks.

The demand is pretty constant and I assume he will run out of Skycoin eventually.



===

The problem right with the skycoin markets is
- no one who has coins want to sell (vast majority are buy and hold, long term and just keep buying at constant rate or when they can get a deal)
- the people buying are acquiring long term positions are doing so, without driving up the prices (they are buying over long term and consolidating positions, not doing panic/frenzy buying)
- the spreads are still massive

We tried injecting coins into the OTC market at discount (30%) and it was working, but eventually some people realized they could immediately sell the coins at profit and it began droving down the price.

Then we tried small OTC sales at spot price. Which worked very well and the price per coin seemed to rise in the weeks after OTC sales and market cap increased a large multiple of amount of coins sold. I think from network effects and people promoting or tweeting. This also indicates that distribution for network activities will be very successful (like Steemmit did).

Now we are trying OTC above spot price.

The theory was that if we set the distribution event price at 0.002 BTC/SKY (500 SKY/BTC), that if it only took 50 BTC to move the market to 0.002 BTC that people would buy out the order book until the price rose to 0.002 BTC. Then this would produce a new price floor.

However, 20 hours in that has not happened yet and the price is still at 0.0012. So we will see what happens.

What did happen is that the liquidity/trading volume dropped. I think because people are not sure what will happen.

Then on the 15th, we will try a second distribution strategy.

Over the long term, the OTC distribution bot price will be reduced to be closer to the market spot price, but the number of coins available per day will be extremely limited. Where as the current distribution is significantly above market price but a very large number of coins are available relative to the existing market cap.

The total capital raise going from 5.8% to 20% distribution will be able 15 million or about 3000 Bitcoins. So I do not think the market cap is too high and there is still room for significant increase even during the distribution.

So the primary goals are
- raise money for development
- raise money for price support and market making
- increase liquidity
- test and determine systematically what kind of distribution policy and rate is best for reaching the distribution targets, without driving down the coin price

Just like Bitcoin, we expect most of the price appreciation is going to be as the distribution rate tapers and during periods of maximum user base growth.

So we are trying to do this systematically and with a bunch of small experiments.

Once the applications are done, the Skycoin market cap might be at 50 million dollars.
- We will be able to calculate the cost per user acquisition and required user incentives for userbase growth
- We be going from 15% to 20% distribution to 30% distribution (probably through the network incentives) and therefore will have about ~25 million or 50% of the market cap for user acquisition/behavior incentives (like Steemit did).
- $25/user, 25 million, 1 million users, plus organic, etc...
- then ideally the skywire incentives are tweaked so the mean revenue per user (capital inflows), exceeds the cost per user over lifetime

That is the point where, the network is operating in a closed, internal economic cycle. Achieveing this closed economic cycle is one of the one to two year, higher order goals that development is directed towards.

If we can achieve the goals of a closed or self contained economic system, that would be a major milestone for crypto. We need to have producers and consumers and they need to be balanced out in a closed cycle.

The Steemit, Bitcoin and Ethereum model is not viable in the long term, because the mining rewards and incentive costs are being subsidized by a transitory capital inflow bubble into a new asset class (cryptos). Bitcoin would not be viable if the hundreds of millions of dollar a year of operating costs for the network, were being taken out of the pocket of the Bitcoin users directly as transaction fees. It is only viable with hundreds of millions of dollars of new external money, to buy out the new bitcoin being dumped to pay for the network operating costs.

This is why the Skycoin project focused the first four years on research into new mining algorithms to reduce or eliminate network operating costs.

Then, we know know that there will be thousands upon thousands of new coins over the next ten years, so we choose a protocol heavy niche, that we wont be displaced from and where it does not make sense for anyone to complete with us. While individual products and features can be copied or clone trivially (and will be), ecosystems and protocol standards cannot be copied and have the longest lock in and most sustainable advantage for this type of product.

You can see this clearly with Ethereum, where the primary usage of Ethereum has become launching ERC20 tokens. So while any coin is able to clone the Ethereum Virtual Machine and add turing complete smart contracts to Ethereum, it becomes much harder to clone the ethereum user community, the application ecosystem and the ERC20 ecosystem.

So we are building out the Skycoin ecosystem systematically and strategically along what we think will be best for the long term.

Update:

Distribution event is live at
- https://event.skycoin.net

---

There was a bug , where send to many transaction were not working with the ICO backend. That bug is now fixed. We tested all the edge cases and deposits should be coming in smoothly now.

It is normally 10 to 15 minutes between the Bitcoin deposit and the Skycoin show up in your wallet.

---

If someone wants to make a skycoin web wallet, they should look at
- https://github.com/skycoin/skycoin-cipher-web

---

Within two weeks, if there is time, we may add ETH deposits to the distribution backend and may integrate a web-wallet for address generation. Not sure yet.

The distribution/ICO backend will also be powering our OTC bot and federated exchange backend. We will have something like shapeshift in the skycoin wallet eventually and it uses the same code as this ICO frontend.

---

A new skycoin wallet is being written from scratch in angular 4.0



This will fix the latency and UI instability issues with the previous wallet.

We think you are trying to drive the Skycoin price down and cause panic selling, by spamming every single board and chat room with FUD.

Four hours before the ICO started, you starting spamming Bitcoin talks and telegram and all the channels with a bunch of lies and bullshit.

Why is he starting this shit, 4 hours before the ICO?

He private messaged someone and said he was trying to cause panic selling. I think he is intentionally spamming FUD everywhere, to drive the price down.

>This project is great reading if you go all through the forum but complete fiction in reality.

I repeat:

www.github.com/skycoin

You can see the Skycoin repos. The main "skycoin/skycoin" repo is the one with the least activity

github.com/skycoin <-- look at the repos

- github.com/skycoin/skycoin-cipher-web is our web wallet prototype
- github.com/skycoin/skycoin is the main coin
- github.com/skycoin/net is the sky-messager and is like TOX. This allows you to message people by public key.
- github.com/skycoin/bbs is distributed social media prototype. Similar to Reddit, 4chan or Steemit but built on top of CXO
- github.com/skycoin/cxo is an a next generation IPFS.
- github.com/skycoin/skywire is our mesh net/darknet implementation and is similar to MPLS and OpenFlow. This is how users will receive coins for hosting CXO content. We do not think "proof of storage" is viable or will win out in the long term, so took a different approach.
- github.com/skycoin/teller is a service for bitcoin deposits/withdrawals and for OTC bot
- github.com/skycoin/skycoin-exchange is the skycoin distributed/federated exchange prototype
- github.com/skycoin/cx is our programming language and has genetic algorithm demo
- github.com/skycoinn/viscript is a cloud computing and application launching environment for our skycoin hardware and clusters
- github.com/skycoin/blog is our Hugo blog
- github.com/skycoin/skycoin-explorer is the skycoin blockchain explorer
- github.com/skycoin/devops is the devops and docker deployment/testing scripts

>This project is great reading if you go all through the forum but complete fiction in reality.

1> Go install gentoo
2> install the applications from source (they are open source on github)
3> Run them.
4> apologize (or just shut up)

EOS did not even have a blockchain when they raised a hundred million dollars (ERC20 token)

The biggest difference between Skycoin and most of the recent ICOs is that
- Skycoin has developers
- Skycoin has a blockchain
- Skycoin has source code

You can download and run all of the applications from Github. The reason they are not on the website yet, is because the applications are still in alpha and for developers only. They are rapidly being changed every week and are not stable yet. Also, we have so many applications and daemons that we had to write a separate application to package and deploy them and its still in development.

The ICO is for technical people and investors, who have researched and understand what we are doing, to be able to buy before everything is packaged/launched and it becomes public facing.

Just because you cannot use to github website (which is linked on the skycoin.net website and everywhere), does not mean the applications do not exist. They are right there.

>The telegram started to fill with fake users and sockpuppets always same first post "Should i buy skycoin now?"
> Same answer from the five active members there, "yes buy before the ICO before it moons."

They actually, tell people to buy at the bottom when it dips and tell them not to buy at bubble. The traders in the Skycoin community are pretty good. Everyone in the community so far is highly educated, intelligent and principled.

Its not the catcoin chatroom. You are just making up negative things that have no basis in reality. You are constantly lying or making things up.

>With the .002 price they are requesting it places skycoin at over $600,000,000 in market cap and that is BS.

No. You are lying again.

Coinmarketcap.com says the market cap is 23 million. You say it is 600 million.

https://coinmarketcap.com/currencies/skycoin/

You are not allowed to make up your own formula for computing market capitalization.

The market cap is computed by multiplying the price per coin times the free float. The current market cap is $22,971,697 (not 600 million)
- 5,833,030 SKY
- $3.94 USD / SKY
- 5,833,030 * 3.94 ~= 23 million

Your made up market cap is 30x higher than the actual market capitalization.

The 100 million coins is a hard maximum cap, but the coins do not "exist" yet and are not traded. Only the free float or tradable coins can count towards the market cap. Just like Bitcoin has a hard cap of 23 million coins, Skycoin has a hard cap of 100 million coins.

After we reach target distribution, the coin distribution rate will probably be software capped at 5% maximum per year. Meaning distribution will take a minimum of 15 to 20 years. Therefore the impact of the undistributed coins is minimum or irrelevant.

>I know of no decent tech released yet?

1> Go install gentoo
2> install the applications from source (they are open source on github)
3> Run them. (github.com/skycoin)
4> apologize

I ask for a show of the products created by their 20+ PHD devs..

Again
1> Go install gentoo
2> install the applications from source (they are open source on github)
3> Run them. (github.com/skycoin)
4> apologize

>I ask for a show of the products created by their 20+ PHD devs..
>they say over 40 devs so half of that is 20 devs with PHDs, really??

Again. You are lying and making up bullshit again.

Half the RESEARCH people. Look at their fucking github accounts, they are under their real names. Read the white papers.

>The skycoin forum admin here is posted under many different people so you never know who is behind the post.

Yes. No one checks this often either. Everyone is too busy building things.

blocked..

You were kicked, not blocked. And you were kicked for pissing off the developers.

First, you go to

github.com/skycoin

You can see the Skycoin repos. The main "skycoin/skycoin" repo is the one with the least activity

github.com/skycoin <-- look at the repos

- github.com/skycoin/skycoin-cipher-web is our web wallet prototype
- github.com/skycoin/skycoin is the main coin
- github.com/skycoin/net is the sky-messager and is like TOX. This allows you to message people by public key.
- github.com/skycoin/bbs is distributed social media prototype. Similar to Reddit, 4chan or Steemit but built on top of CXO
- github.com/skycoin/cxo is a next generation IPFS.
- github.com/skycoin/skywire is our mesh net/darknet implementation and is similar to MPLS and OpenFlow. This is how users will receive coins for hosting CXO content. We do not think "proof of storage" is viable or will win out in the long term, so took a different approach.
- github.com/skycoin/teller is a service for bitcoin deposits/withdrawals and for OTC bot
- github.com/skycoin/skycoin-exchange is the skycoin distributed/federated exchange prototype
- github.com/skycoin/cx is our programming language and has genetic algorithm demo
- github.com/skycoinn/viscript is a cloud computing and application launching environment for our skycoin hardware and clusters
- github.com/skycoin/blog is our Hugo blog
- github.com/skycoin/skycoin-explorer is the skycoin blockchain explorer
- github.com/skycoin/devops is the devops and docker deployment/testing scripts

Also, our mobile wallet for Android/iOS was finished last week, but the repo has not been moved to the org yet.

Then there is another repo that has not been added to the org, with a complete rewrite of the wallet from scratch.

There is a whole telegram chat room with 40 people in it, just for testing the BBS application.

---

So when you lie say that "Nothing was down in five years". All the developers want to stab you and they are going to kick you from the channel. We do not even time to answer bullshit like this.

You cannot make up lies and spread them in the official skycoin channels.
- you cannot come into the channel and make up stories about how some lead dev was hired on Fiver for $5/hour... and just make shit up.
- you also waste a lot of time in the channel because you make things up and then say the developers said them, when they said exactly the opposite thing. Then six people waste time correcting you. And it causes massive confusion.
- You are negative. Everyone is focused on the project and is getting things done everyday and does not want to read people coming in and telling them that "nothing was done in five years" and that they were hired on Fiver for $5/hour and other lies. The development speed is extremely fast and everything is getting done and all of the application run now. Everyone is working on the project because they are excited about what we are doing. If you want to be negative, you should go into the EOS telegram and be negative there.
- You are complaining about EVERYTHING. We can only focus on one or two things and we do not give a shit about any of the imaginary "problems" you keep bringing up. We have real, important, concrete problems and things to get done by the next milestone. We cannot spend 20 years fixing "problems" that no one cares about or that do not matter. We have to focus on the two or three things that are highest priority and will have the largest impact.

You suggested "Fixing the distribution" problem by dumping coins. WHEN EVERYTHING IN SKYCOIN WAS DESIGNED FROM THE START TO ABSOLUTELY PROHIBIT AND MAKE COIN DUMPING AS DIFFICULT AS POSSIBLE. Other people said "Why would the developers do something that would hurt the people who already bought the coin? This is stupid. They should never do this." and we said "We will NEVER DO THIS" and then you come in and complain that we are not destroying the equity of the people who already bought the coin.

Skycoin was always designed to be scarce. And our economic policy has always been the same. The rate of coin distribution, must be lower than the rate of usage and userbase growth. If there are 1000 users and distribution goes from 5% to 50%, then the coin to user ratio must decline as the distribution increases. We are not going to anything that will destroy the price per coin and we are not going to change our economic policy (which has not changed in five years), because one person is complaining. Expecially when the whole user community and developers unanimously think that coin drops are suicidal and retarded.

There is a huge difference between Skycoin and most of the recent hundred million dollar ICOs
- Skycoin has a blockchain (it is not an Ethereum token)
- Skycoin has developers (there is a development track record of half a decade)
- Skycoin has source code (The majority of the recent hundred million dollar ICOs are ERC20 tokens. The Skycoin product was built out before the ICO and it was not just a scam to do marketing and get people to hand over a hundred million dollars to serial scammers)
- Skycoin is focused on fundamental problems that need to be solved for "the next bitcoin". Not on marketing gimmicks and "turing complete smart contracts" and marketing bs that is not yet useful in the real world.

So we are in the middle of massive speculative bubble, where 95% of the recent coins are going to be wiped out or be irreverent next year. And you are attacking one of the only ~5 coins with an actual blockchain and developers.

https://explorer.skycoin.net/api/coinSupply

Look at the API documentation on explorer.skycoin.net

We have an ICO starting in 15 minutes and we are doing tech prep. We do not have time for this.

Complain after ICO, everyone is massively busy. No time for drama.

It was just a kick and he is flipping out...

I am not sure that he is that bad.

One of the developers kicked you, because you keep telling people that he was hired to work on Skycoin for $5 an hour, on Fiver.

- First of all, its  a lie.
- Second, it is insulting.
- Third, yes one of the Skycoin developers had a Fiver account when he was in college.
- Fourth only one for of the ~60 people contributing on Github to skycoin has a Fiver account. So stop making wild accusations that the whole Skycoin development team was hired for $5/hour on Fiver.

Half the research people have PHDs and you are telling people they are $5/hour people hired on Fiver, etc
- https://github.com/skycoin/cx

My head is going to explode.

Two reasons
1> We do not want to do an ICO with the seg-wit and hard fork drama in the middle of the ICO.
2> the marketing team did not get the distribution listings and PR releases out in time. So they have do it again, until they get it right.

Update:

Who has the /r/skycoin sub-reddit? How do we get the reddit, the marketing team needs it.

The last ICO was on c2cx and it worked perfectly. The distributions before that worked perfectly also.

We are not doing an ICO in the middle of segwit and possible Bitcoin hard fork. That would be fucking retarded.

The Skycoin price at the first/second distribution was 1 penny and is up 300x or 400x from that point.

From the second distribution at around 10 cents, the price is up 28x to 40x.

>All I hear is garbage spat out by the skycoin dev(s), talk, talk and talk about ICOs and how fair their's is.

I said that the ICOs are UNFAIR. Not fair. In an ICO, the money goes to the people who have the most money. Saying its fair that someone who makes $60,000 a year has to compete in an ICO against three people with 200 million dollars in ETH, is not "fair".

- Most of the coin "ICOs" are going to 1 to 3 people
- Most of the ten or hundred million dollar ICOs are basicly scams
- Most of these coins do not even have blockchains or are just marketing, and even coins with hundred million and billion dollar valuation actually have almost zero users

I think we are going to go through a bubble phase and then a "pets dom com" shakeout phase. Its a speculator driven market, where coins with NO USER BASE are trading on exchanges at hundred million dollar valuations.

We were approached and asked to sell coins at 1/20th market rate, by large "investors" who would then pump the coin and then dump the coins after ICO and we turned them down. That is what you do if you want to by hyped and get media coverage. Then they sell the coins at 20x the price the insiders paid and then dump them on the schmucks.

And we did not do that, or the marketing would be a lot better.

...

We did the linear regression of the skycoin market price and trading volume and its exactly on the target regression line.

The Skycoin volume has increased 5x, from $10,000 to $50,000 a day in the past two months.

We have gone from one order book, to four order books. Including Yuan, ETH and two BTC order books in two months.

The telegram group grew from 20 people to 500 in less than two months.

The new website was launched and it is on the third version.

The PR people setup the blog and we have over 400 posts migrated. Which was massive amount of work. Now they are doing the blog skin and tags https://blog.skycoin.net/

Now we are getting press releases and they are working on media syndication.

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Only the blind to not see how fast the rate of progress has been.

The next "ICO" is just a small marketing event and does not matter. It is to get the website up, the blog up, the new coin distribution infrastructure tested and to do press releases before the next milestone.

Who has the Skycoin reddit?

reddit.com/r/skycoin

How do we get this sub-reddit?

Its very confusing and complex. There are multiple overlapping groups and none of them are doing it for the money.

We have group using Skycoin to fund their meshnet dream.

We have group using Skycoin to fund their hardware projects.

We have group using Skycoin to fund related immutable data structure research (urbit stuff and stuff used in consensus)

We have small group using Skycoin for consensus research and to do a next generation consensus algorithm (see the white papers)

We have multiple cipher punk groups working on different thing they want.

We have group doing fundamental programming language research and CX. Who just happen to be genetic algorithm and multi-agent simulation people. So the first thing that was implemented on this was genetic algorithm and linear genetic programming and Cartesian genetic algorithms.

We have group doing decentralized social media and pilot applications on the immutable data structure libraries (which is what they build the libraries for). They are building it, because they know it can be done, therefore it must be done.

It feels a lot like the community did in the early days of Bitcoin and Ethereum.

Update:

Too many things to list.

- New website
- New wallet build
- BBS launching github.com/skycoin/bbs . Join the telegram group for testing the BBS (build on top of CXO, peer to peer replicated, immutable object system, similar to IPFS)
- Sky messenger done (its skycoin's TOX like messanger and used internally for machine to machine communication),  github.com/skycoin/net
- ICO in two days for 1% of Skycoin, 1 million coins, 500 SKY/BTC
- Skycoin now has an ETH and BTC order book on C2CX
- C2CX is adding crypto only trading accounts that have less KYC requirements for deposits/withdrawls
- skycoin mobile wallet is done, I do not know the github yet
- skycoin networking framework and factories are done github.com/skycoin/net
- genetic algorithms for polynomial fitting are done in CX github.com/skycoin/cx . This is a major milestone for the CX programming language
- the meshnet has been refactored so the Skywire node connects to the command server over sky-messanger instead of TCP
- the Skycoin wallet is being rewritten from scratch (will be upgraded from angular 2.0 to angular 4.0)
- BBS has been upgraded from angular 2.0 to angular 4.0
- Skycoin now has an official logo, color schemes and branding guide
- The first prototype for dedicated hardware for the Skycoin network and Skywire is finished. After new PCB boards get here, we will ship out 300 units of the Skywire mining units, on the skycoin.net website. For 1 BTC each (And owners will also receive almost 1 BTC of Skycoin) and also be the first people to get coin incentives for mining.
- We are doubling the size of the development team again.
- We finished an AMA with ARC
- We will list on larger exchanges when the segwit bullshit is over
- The PR firms have finally started working or doing something
- We are still building the marketing team (who still sucks and is still under performing). Xtester and others have helped a lot for the early stages. We are still trying to improve the marketing team and find writings for press releases and get everything organized.
- Our first full time marketing hire did two coin conferences, one in London and one in Barcelona.
- the skycoin.net blog is up and has a few hundred posts of content already ported blog.skycoin.net
- Skycoin has hit the second highest volume on Crytopia several times and we are now listing on larger exchanges to add more trading options
- Skycoin now has ETH and BTC order books
- Several severe bugs were fixed in the wallet and we are preparing to write a new wallet from scratch
- Skycoin has hit milestone of 400x price increase from the first ICO at 1 penny.
- Skycoin ha hit milestone of 40x price increase from the ICO at $0.10 to $0.15 per coin.
- The Skycoin price has been doubling every 40 days for a while now, so we are doing pretty well
- The first applications should be ready for launch in the next two months (Skywire and BBS), along with the first hardware nodes for Skywire being packaged and shipped across the world.

This is probably 50% of the things since the last update, but is all I can remember right now.

Sky Ledger:

Also, people are starting to ask questions about Skyledger, which we have not talked about at all.

Skyledger is Skycoin's ERC20 standard, for corporations to create coins (like Suncoin, Shellcoin, Aydrand Coin, etc) on the Skycoin platform (except that each coin is on its own blockchain and we do not believe in putting every token on a single blockchain like Ethereum does). Skyledger is sort of like Skycoin's Bancor. There are already so many coins in development on the platform, that I cannot keep track of them and have no idea what they are for.

We have a blockchain bubble going on right now and we have been asked by a small government if we can put their currency on the blockchain and people are talking about blockchain traded real estate and a lot of very large companies are doing pilots on every blockchain platform they can get into.

One of the Skyledger coins is going to be coin for a physical infrastructure investment fund, investing in solar power projects. The company has a diffraction grating film to increase power generation per meter of solar panel by 3x. So will see what they do with this.

The idea behind Skyledger is there will be millions or hundreds of millions of cryto assets in the future and that moving these assets through Skycoin, we can increase the liquidity of Skycoin (by automatically having exchange pairs against Skycoin for each of the Sky-ledger coins).

The most important thing, is that since these coins and experiments are on separate blockchains (unlike Ethereum ERC20 tokens), they will not slow down or bloat the Skycoin blockchain. We believe that micro-blockchains and "personal blockchains" are the future. We do not believe in putting all the data in the world, onto one blockchain Ethereum style, because of the problems it causes.

However we cannot guarantee the quality of the coins or control what people are doing with them. Hopefully there will eventually be a few good coins with large market caps and real economic activity in there.

Sky-ledger is also bringing in a lot of corporate clients, that are helping fund development and the Skycoin Consortium is expanding rapidly.

However, Sky-ledger is separate from Skycoin and the Skycoin Project is much larger and more expansive than any of the other coins. And is more complex and has more components and pieces of infrastructure.

Skycoin is part of the Skycoin Project including CXO and Skywire, then the Sky-Ledger coins run on top of CXO, inside of the network created and powered by Skycoin+CXO+Skywire+Hardware. So these coins will indirectly drive the Skycoin price up, but mostly will create liquidity and network activity.