[IoP] Fermat presents the Internet of People App Token

[LiskQH]

How many tokens are available now? 12.258 or 2.100.00+?

CoinMarketCap.com says 12.258 but what i'm seeing here is different.

available and unlocked supply can be found here:

http://explorer.fermat.community/ext/getmoneysupply

for some reason coinmarketcap refuses to update informations even after several requests.

Coin Supply (IoP)
1589022.27245921


This figure is just not true. Here is the information from your same explorer:

              Amount (IoP)   
Top 1-25   1528069   
Top 26-50   401841
Top 51-75   73576   
Top 76-100   32624
                          =2036110 IOP available.


This huge amount. Your coin today is does not cost even $0.10 cents.

[1715107329]

1715107329

[1715107329]

1715107329

[1715107329]

1715107329

[1715107329]

1715107329

[1715107329]

1715107329

[trader19]

...All acquired tokens from Investors were paid a lot higher ($12)...

Why?

contributors, developers, bug bounties were paid out in form of IoP at this convert value. means they received IoP tokens in converted value of 1IoP=12$ for various tasks. i see i expressed myself wrong there saying investors paid that much pro IoP, how much investors paid is something only Luis can answer.

[trader19]

Investors were paid a lot higher ($12) than what the current market price is.. in total there are $1mio+ invested before Token

How can you prove it? I only see a huge premine gradually transferred to the exchange C-CEX.

Your Local Chapter and only do they sell your coins at low prices. I have not seen any here in the forum.

you should really try for yourself and join one of the chapters or if your chapter is not taken make one. you get access to chapter slack and see everything from inside out.

[LiskQH]

...All acquired tokens from Investors were paid a lot higher ($12)...

Why?

contributors, developers, bug bounties were paid out in form of IoP at this convert value. means they received IoP tokens in converted value of 1IoP=12$ for various tasks. i see i expressed myself wrong there saying investors paid that much pro IoP, how much investors paid is something only Luis can answer.

2036110*12$= 24433320

Considering quantity of available coins today, you want to tell that investors invested for the sum of 24433320 dollars?

[trader19]

How many tokens are available now? 12.258 or 2.100.00+?

CoinMarketCap.com says 12.258 but what i'm seeing here is different.

available and unlocked supply can be found here:

http://explorer.fermat.community/ext/getmoneysupply

for some reason coinmarketcap refuses to update informations even after several requests.

Coin Supply (IoP)
1589022.27245921


This figure is just not true. Here is the information from your same explorer:

   Amount (IoP)   %
Top 1-25   1528069.36325900   
Top 26-50   401841.48571291   
Top 51-75   73576.81698940   
Top 76-100   32624.57430339   

=2036110 IOP available.


This huge amount. Your coin today is does not cost even $0.10 cents.

your math is also wrong, actual tokens in existence are 2,112,258 IOP. what explorer shows is IoP in circulation, rest is time locked for 1,2,3,4,5,6 years.

[trader19]

...All acquired tokens from Investors were paid a lot higher ($12)...

Why?

contributors, developers, bug bounties were paid out in form of IoP at this convert value. means they received IoP tokens in converted value of 1IoP=12$ for various tasks. i see i expressed myself wrong there saying investors paid that much pro IoP, how much investors paid is something only Luis can answer.

2036110*12$= 24433320

Considering quantity of available coins today, you want to tell that investors invested for the sum of 24433320 dollars?

read post above u, $12 is converted value in IoP various contributors got paid for various task. not what investors paid

[LiskQH]

Perhaps we not misunderstand each other. But it is not my fault. You have chapters in Russia but it does not do anything (however as well as all your chapters). He did not answer one of my questions. Everything that it does, it sells the coins at the exchange.

Probably, they should leave a slack.chat, and will go to a forum to give answers to people.

Answer to these questions step by step:

1. The limited number of people is engaged in production now. About 40 people. Correctly?

2. Now, it is available 2112258 IOP as you told. From where this quantity of coins undertook?

3. Who possesses these coins?

4. You want to tell that investors bought 2112258 IOP?  

5. You say that they bought them on 12 dollars? It means that you have 24 million dollars now?

6. If it not so, then tell what exact quantity of coins was bought by investors? And how many at you is dollars?

[trader19]

Q:Perhaps we not misunderstand each other. But it is not my fault. You have chapters in Russia but it does not do anything (however as well as all your chapters). He did not answer one of my questions. Everything that it does, it sells the coins at the exchange.
A:I think so also, for you to understand what role i play in all this. I Joined in early Oktober this year when all this Chapter Concept started, was the first and built Swiss Chapter together with Amadeo, testing and was the one that set the standards for other Chapters to follow (social media, POA, involvement). Chapter governance system is something never done before, you cant expect Chapter network model to be running perfectly this early. i can tell you didn't do any research and i don't have time to take you by your hand and guide you. i recommend you start reading here. What one does with his mined IoP is his concern, just remember that mining cap will go lower and lower as more ppl join.
 
Q:Probably, they should leave a weak point, and will go to a forum to give answers to people.
A:?

Answer to these questions step by step:

1. Q:The limited number of people is engaged in production now. About 40 people. Correctly?
A:I guess by production you mean mining? i think more than 40 ppl are mining, since some chapters have more than one member. How many exactly, go check spreadsheet and count them yourself i will not do it for you. In github there are in total 76 contributors to the code since beginning..

2. Q:Now, it is available 2112258 IOP as you told. From where this quantity of coins undertook?
A:10% premine=2,100,000 IoP, rest is/has being mined by Chapters

3. Q:Who possesses these coins?
A:Who possesses premine IoP you mean? it's all documented, if you want to review it ask Luis for access to spreadsheet. The rest is being fairly distributed in form of Mining and POA (Proof of Action). read Chapters

4. Q:You want to tell that investors bought 2112258 IOP?  
A:Premine was 10% means 2,100,000 IoP, how many was bought and at what rate and what was distributed is something you can see on that document. ask Luis for access.

5. Q:You say that they bought them on 12 dollars? It means that you have 24 million dollars now?
A:contributors, developers, bug bounties were paid out in form of IoP at $12 convert value. means they received IoP tokens in converted value of 1IoP=12$ for various tasks. What investors paid, ask Luis.

6. Q:If it not so, then tell what exact quantity of coins was bought by investors? And how many at you is dollars?
A:ask Luis or marmai per PM. i don't have this information.

Facit: i can understand your concerns, still you need to understand that Fermat project is not dependent on your investment and nobody asked you to invest or buy. only thing you all are kindly asked is to join and create decentralized Chapter network of trusted full nodes necessary for further evaluation and success of this project. you are even being incentivized by joining this early..  

[LiskQH]

Q:Perhaps we not misunderstand each other. But it is not my fault. You have chapters in Russia but it does not do anything (however as well as all your chapters). He did not answer one of my questions. Everything that it does, it sells the coins at the exchange.
A:I think so also, for you to understand what role i play in all this. I Joined in early Oktober this year when all this Chapter Concept started, was the first and built Swiss Chapter together with Amadeo, testing and was the one that set the standards for other Chapters to follow (social media, POA, involvement). Chapter governance system is something never done before, you cant expect Chapter network model to be running perfectly this early. i can tell you didn't do any research and i don't have time to take you by your hand and guide you. i recommend you start reading here.
 
Q:Probably, they should leave a weak point, and will go to a forum to give answers to people.
A:?

Answer to these questions step by step:

1. Q:The limited number of people is engaged in production now. About 40 people. Correctly?
A:I guess by production you mean mining? i think more than 40 ppl are mining, since some chapters have more than one member. How many exactly, go check spreadsheet and count them yourself i will not do it for you. In github there are in total 76 contributors to the code since beginning..

2. Q:Now, it is available 2112258 IOP as you told. From where this quantity of coins undertook?
A:10% premine=2,100,000 IoP, rest is/has being mined by Chapters

3. Q:Who possesses these coins?
A:Who possesses premine IoP you mean? it's all documented, if you want to review it ask Luis for access to spreadsheet. The rest is being fairly distributed in form of Mining and POA (Proof of Action). read Chapters

4. Q:You want to tell that investors bought 2112258 IOP?  
A:Premine was 10% means 2,100,000 IoP, how many was bought and at what rate and what was distributed is something you can see on that document. ask Luis for access.

5. Q:You say that they bought them on 12 dollars? It means that you have 24 million dollars now?
A:contributors, developers, bug bounties were paid out in form of IoP at $12 convert value. means they received IoP tokens in converted value of 1IoP=12$ for various tasks. What investors paid, ask Luis.

6. Q:If it not so, then tell what exact quantity of coins was bought by investors? And how many at you is dollars?
A:ask Luis or marmai per PM. i don't have this information.

Facit: i can understand your concerns, still you need to understand that Fermat project is not dependent on your investment and nobody asked you to invest or buy. only thing you all are kindly asked is to join and create decentralized Chapter network of trusted full nodes necessary for further evaluation and success of this project. you are even being incentivized by joining this early..  

Thanks for your answers, is a pity that the Russian Chapter, not also well works as you.

There are some guarantees that 10% of premine (this 2100000 IoP) cannot be brought to market any minute?

You have to understand my concern, and looking at your rank you have to remember 1001 cases when it happened to different coins. Not all people are honest, unfortunately.

Therefore, the community has to know this information to be sure.

[trader19]

Q:Perhaps we not misunderstand each other. But it is not my fault. You have chapters in Russia but it does not do anything (however as well as all your chapters). He did not answer one of my questions. Everything that it does, it sells the coins at the exchange.
A:I think so also, for you to understand what role i play in all this. I Joined in early Oktober this year when all this Chapter Concept started, was the first and built Swiss Chapter together with Amadeo, testing and was the one that set the standards for other Chapters to follow (social media, POA, involvement). Chapter governance system is something never done before, you cant expect Chapter network model to be running perfectly this early. i can tell you didn't do any research and i don't have time to take you by your hand and guide you. i recommend you start reading here. What one does with his mined IoP is his concern, just remember that mining cap will go lower and lower as more ppl join.
 
Q:Probably, they should leave a weak point, and will go to a forum to give answers to people.
A:?

Answer to these questions step by step:

1. Q:The limited number of people is engaged in production now. About 40 people. Correctly?
A:I guess by production you mean mining? i think more than 40 ppl are mining, since some chapters have more than one member. How many exactly, go check spreadsheet and count them yourself i will not do it for you. In github there are in total 76 contributors to the code since beginning..

2. Q:Now, it is available 2112258 IOP as you told. From where this quantity of coins undertook?
A:10% premine=2,100,000 IoP, rest is/has being mined by Chapters

3. Q:Who possesses these coins?
A:Who possesses premine IoP you mean? it's all documented, if you want to review it ask Luis for access to spreadsheet. The rest is being fairly distributed in form of Mining and POA (Proof of Action). read Chapters

4. Q:You want to tell that investors bought 2112258 IOP?  
A:Premine was 10% means 2,100,000 IoP, how many was bought and at what rate and what was distributed is something you can see on that document. ask Luis for access.

5. Q:You say that they bought them on 12 dollars? It means that you have 24 million dollars now?
A:contributors, developers, bug bounties were paid out in form of IoP at $12 convert value. means they received IoP tokens in converted value of 1IoP=12$ for various tasks. What investors paid, ask Luis.

6. Q:If it not so, then tell what exact quantity of coins was bought by investors? And how many at you is dollars?
A:ask Luis or marmai per PM. i don't have this information.

Facit: i can understand your concerns, still you need to understand that Fermat project is not dependent on your investment and nobody asked you to invest or buy. only thing you all are kindly asked is to join and create decentralized Chapter network of trusted full nodes necessary for further evaluation and success of this project. you are even being incentivized by joining this early..  

Thanks for your answers, is a pity that the Russian Chapter, not also well works as you.

There are some guarantees that 10% of premine (this 2100000 IoP) cannot be brought to market any minute?

You have to understand my concern, and looking at your rank you have to remember 1001 cases when it happened to different coins. Not all people are honest, unfortunately.

Therefore, the community has to know this information to be sure.

i agree with you, community concerns should be answered. nobody can guarantee that one of those holders won't sell their share sooner or later but what i can guarantee is that IoP is limited and it will get bought by believers if that happens at which rate this is open for speculations. one thing to note is that this project was funded mostly by outside investors, non crypto. they tend not to speculate and usually hold long (few years).

I have a question, you wanted to join russian chapter? i saw they didn't claim their website licence, maybe you can build website in russian for fermat and start mining. just fill (comment) on russian row and you will get accepted. that's how you can join, by claiming something from that chapter they did not claim. GL

[trader19]

!reposting for better visibility

What one does with his mined IoP is his concern, just remember that mining cap will go lower and lower as more ppl join. And you will need IoP when POW/POS hybrid gets released to be able to mine further. plus self-governing system will require 1000 IoP deposit for proposal of your project to get funded by the IoP blockchain. not good idea to sell this early. but you know how they say: "easy come, easy go"

@LiskQH thats good idea, we should attach bitcointalk profile to sreadsheet. i think it's more than 70% from bitcointalk community running chapters. i will ask marmai if it can be done. just remember some ppl like to stay anonym, semi anonym or not attach their real name to bitcointalk account! me for example have no problem with it
Gabriel

[bf_jyfty]

i am ready too create a nice article, om me

[sdfghghjk23]

i am ready create a nice blog dev, please pm me

[trader19]

i am ready too create a nice article, om me

i am ready create a nice blog dev, please pm me

how about article/blog ? i'm ready

there is no bounty to collect anymore, you can do it volunteering if you want.

[marmai]

Thanks for your answers, is a pity that the Russian Chapter, not also well works as you.

There are some guarantees that 10% of premine (this 2100000 IoP) cannot be brought to market any minute?

You have to understand my concern, and looking at your rank you have to remember 1001 cases when it happened to different coins. Not all people are honest, unfortunately.

Therefore, the community has to know this information to be sure.

Hello LiskQH,

In the beginning of our beta-early-mining phase we follow the model of the survival of the fittest:
You can claim a spot and gain the right to mine. If the Chapter President is not answering to you, or giving relevant expression how to get things sorted out, I am willing to let more driven and committed people replace them.
Later, when we open the gates to the whole world, this will not be guided by us, but the people inside of the chapters rule their president and leaders.

Please get in touch with me directly, we will look into your issue with Russia and find a solution.
People willing to do something more than ordinary, investing much time now, asking right Questions and proving to help the community are precious. So we will sort it out. I think you are referring to the russian OP. We will change this to a more resposible person, if that helps.

So, now to your questions:
Yes, a huge chunk of 10% pre-mining was paid in hard Dollars. You can't imagine this maybe, as we don't advertise such things, but we had times with more than 20-30 thousand dollars in wages per month for the over 120 people involved in this project. Not to mention those that were joining for smaller tasks, those over 180 in slack, etc... We have a semi-public ledger, where members of Fermat can look into and control all payments, each wage, each payment, for every member and for each month over the period from 2014 till 2016. Every cent is listed in this.

So I can guarantee you, that, while we are (remember, we started in 2014 !!) in the not-so-popular-anymore-pre-mining scheme – because of all of this scams in the last years – we are one of the very few maximum transparent and fair out there.
Not one investor is able to cash all tokens out and run away. The time locks are set to 6 months, 12, 24, 36 .. months. The time locks are written in the blockchain (everybody can proof) and this is in public in our github repository, check it out yourself if you like to know how we have done this.

Ok, then, why still people are dumping them? Who is doing this?
One third of the people contributing to this gigantic project have been Venezuelans and Argentinians.
Especially the Venezuelans have 1500% Inflation because of their extrem crazy Socialism.
The Shop owners don't count the money anymore, they are weighting it! So with less than 1$ you can survive the day!

Now imagine, what would you do, if you have 2000 IoP and your money is nothing worth?
You start selling every day 5 - 20 IoP, no matter what price, you know you could easily survive the next 1-2 years doing so.
Also some of the new miners do the same. We are aware of that.

But if you look, with 2-5 BTC trading Volume, there is no large scale dumping. So we decided internally not to buy them out. We could. But we let the free market do it. Even if those 10-20% dumpers sell all their Tokens for 0.01$ - we won't care. This is good for the market. By the way, we really cannot speak from dumping as it is by this time of speaking several $ worth! :-)

Now let us look into the near future:
We are going professional with connecting to FinTech business in 2017.

Imagine what happens, if just one big investor is buying IoP for, lets say 10.000 Bitcoin? Or less, let's say 500 Bitcoin?
I can tell you: There are no cheap Tokens anymore on the Market! Because the Majority of the token Holders don't sell cheap.

Now imagine what happens, if I tell you, that we are already talking to some bigger whales and pioneers in this area...
What happens if they buy in and leave us with no Tokens on the market... but 150 Miners with one precious mining licence each bringing a small constant flow of fresh rare tokens? I mean, we are not talking about dPoS way of dumping Tokens to the market by forging...

TL;DR
Those how jump on now, try to gain 100 Followers in Twitter from Zero, study blockchain, learn Fermat's IoP and maybe struggle a bit in the beginning of 2017 ti get this all sorted, they will be recognized as IoP experts in their field by end of 2017 - and only them where mining till the point we open up to the world!


From here I will leave this open and up to your fantasy…

[miayama]

Something quite new. But I still can not figure out what's what, I must greater insight into information.

[robelneo]

I read that to mine this coin you need a license for this and there are guidelines and requirements to mine Fermat,if for example I choose to run a dedicated facebook page to run about Fermat how can I submit my work,I don't know but there's something here that's worth a second look I'm still the potential of this coin.

[marmai]

I read that to mine this coin you need a license for this and there are guidelines and requirements to mine Fermat,if for example I choose to run a dedicated facebook page to run about Fermat how can I submit my work,I don't know but there's something here that's worth a second look I'm still the potential of this coin.

1. look into the mining sheet and find your chapter.
2. look if there are spots open to claim (like facebook, twitter, meetups)
3. make a comment with your data (fb page, mining wallet address)

that's it!

If there is no chapter from your country, then you can claim the spot and be the first in your country and become chapter president. then you find people fill the spots and start building your Fermat Chapter biz.

[robelneo]

I read that to mine this coin you need a license for this and there are guidelines and requirements to mine Fermat,if for example I choose to run a dedicated facebook page to run about Fermat how can I submit my work,I don't know but there's something here that's worth a second look I'm still the potential of this coin.

1. look into the mining sheet and find your chapter.
2. look if there are spots open to claim (like facebook, twitter, meetups)
3. make a comment with your data (fb page, mining wallet address)

that's it!

If there is no chapter from your country, then you can claim the spot and be the first in your country and become chapter president. then you find people fill the spots and start building your Fermat Chapter biz.

It looks it is already filled I am one person late,so it's one country one miner only  I don't know how good is that i understand that you don't want big miners to mine IoP but limiting one miner per country is not really good in my opinion,so does it mean we will have to wait until that guy stop mining so we can apply again?

[trader19]

only 7 blocks left for new window 8 let see what happens with difficulty