Goodomy [GOOD] - Launching May 24, 2018 // From the creator of the first ICO

[kosmost]

We're just getting started on Goodomy's innovations and market leadership in crypto. The best is yet to come! I've spent the last few months working on what I think is a truly amazing business and economic model for Goodomy (and also working on the patent for it). I'm truly excited to get this released in the coming months.

"We're making history, boys." Here's a running list of innovations and 'firsts'. We've got some great things in store on the Goodomy side. You will see 'kosmost unchained'.

Goodomy Innovations

• The Indefinite Coin Repurchase, or ICRs (July 21, 2017)
• Community Distributed Invoices, or CDIs (November 1, 2017)

Innovations by the founder of Goodomy, via Karmacoin*

• World's first ICO ("proof-of-coin" and "IPOCOs", April 2014)
• first coin to be revived (March 2014)
• among the first coins to successfully switch algorithms (June 2014)
• among the first coins to rebrand itself
• the first to provide detailed project plans
• the first to provide a schedule to the community
• first to allow the community to vote on matters
• first to incorporate and run as a business
• one of the very first cryptocurrencies to issue press releases
• among the first to apply for a trademark
• first to offer a contact number on its website
• first to hold a conference call with coin-holders

*Most of this was back when there were only about 100-200 coins around, not the 1,000-2,000 coins and tokens there are today. I personally checked each at least once (at the time) to see what they were up to, so the list is quite accurate.

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[Iruwen]

Gonna have some more time tomorrow to go through it more thoroughly, but that already sounds pretty cool and reasoned at first glance.

[goutevery]

I was impressed when knew about this project! It seems to be very successful and wish you good luck!

[Kali_Kush]

Really nice update. Great project. Good luck.

[kosmost]

Thanks, everyone. Lots of great things in store!

[kosmost]

For those curious what's going on with Ethereum lately (regarding the recent bug) the answer is ... nothing.

The bug has to do with Parity multi-sig wallets created after July 20, 2017. More info here.

If you have Parity installed, you probably haven't created a "multi-sig" wallet. In fact, I'm using Parity now and have never actually created a wallet. I have only "accounts" from which I can send/receive ETH and tokens. Multi-sig wallets are primarily used by those who want more than 1 person to be able to access and use funds securely.

There is a "victims list" of wallets that are affected, in case you're curious.

Ethereum itself is not affected.

Some fun facts about Ethereum today:

• Ethereum has processed 50% more transactions than BTC in the past 24 hours
• Ethereum currently has 17 pending transactions (Bitcoin has 45,000)
• You need only $0.006 to move $10 worth of Ether (the same transaction will cost about $1.50-$2.00 with Bitcoin)
• It would take about 5-20 seconds to transfer Ether. Bitcoin transactions take anywhere from 10 minutes to about 24 hours

Yes, Bitcoin has made significant gains over the past few weeks and a lot of people are excited for that. However, in the past 12 months to today, Ethereum has gained 3,100% whereas Bitcoin has gained 1,046%

(Actually, it was just announced that Bitcoin's planned fork isn't going to happen. The BTC price might fall a bit within the next few days.)

I'm very excited for what's in store for Goodomy over the coming months. It might actually be revolutionary (from a cryptocurrency industry perspective).

[kosmost]

I just tried sending $30 worth of Bitcoin.

Fees: $4.00 (!)

[kosmost]

Project Update

We're on schedule to have the first beta for the app ready at the end of the month (+2 weeks)

Keep in mind that this is "developer time" so I always double the ETA for good measure.

First phase <-we are here
Basic functionality (splash, login, view, list, post, settings), UI, testing [Android only]

Second phase +8-12 weeks
Extended functionality: (marketplace)
Android + iOS

Third phase +4-6 weeks
Bells and whistles (GPS and other functionality), added security

In phase 2, you'll see the "magic" that could allow each GOOD to increase to $0.75-1.00 or more in value.

In my opinion, it is 3x better than any ICO, can raise far more funds for development, and is a perpetual value machine. People will wonder why they didn't think of it first

More to come...

[Kali_Kush]

Project Update

We're on schedule to have the first beta for the app ready at the end of the month (+2 weeks)

Keep in mind that this is "developer time" so I always double the ETA for good measure.

First phase <-we are here
Basic functionality (splash, login, view, list, post, settings), UI, testing [Android only]

Second phase +8-12 weeks
Extended functionality: (marketplace)
Android + iOS

Third phase +4-6 weeks
Bells and whistles (GPS and other functionality), added security

In phase 2, you'll see the "magic" that could allow each GOOD to increase to $0.75-1.00 or more in value.

In my opinion, it is 3x better than any ICO, can raise far more funds for development, and is a perpetual value machine. People will wonder why they didn't think of it first

More to come...

Thanks for the update. Are we planning any sort of press release to bring awareness in the crypto world about Good coin?

[kosmost]

Thanks for the update. Are we planning any sort of press release to bring awareness in the crypto world about Good coin?

Press releases aren't cost-effective, I think. Aside from that the focus will be serving consumer needs rather than the  crypto community. Everyday people and businesses will be what drives value for GOOD and its economy, and that should be reflected in the value of the token on the exchanges.

[Vettabat]

Hi! Global loyal program - very interesting project. But as for me, blockchain technology is not very crucial to this idea, and you do not want to promote the project through crypto-community, so why have you decided to embody your idea through cryptocurrency?

[kosmost]

Hi! Global loyal program - very interesting project. But as for me, blockchain technology is not very crucial to this idea, and you do not want to promote the project through crypto-community, so why have you decided to embody your idea through cryptocurrency?

It is essential for this project to use cryptocurrency, as will be seen. It is not a loyalty program in the usual sense, but something different.

The primary focus will be consumers. The consumer market is billions of people. It doesn't mean that other types of users will be ignored. We're just going after and focusing on the largest slice of the pie.

[kosmost]

Regarding the GOOD approach to cryptocurrency, a currency must be used in order to become useful. The more it is used the more value it has.

There are many crypto coins and tokens on the market that have no inherent value. They are generally marketed to other crypto enthusiasts on these and similar forums in order to raise the price. At least fiat is based on faith in the government that issues it. When it comes to digital currency, the crypto "governments" are mostly anonymous. Then the crypto community doesn't need to have faith in me or whoever is running GOOD. They only need to have faith in actual numbers that can be verified (and clear evidence) when we show that everyday people are actually using it for transactions.

So how is GOOD different that most others?

Simply put, we seek to be an actual currency that everyone can use rather than just a small population. The largest crypto, Bitcoin, is worth billions yet when was the last time someone went out and used it?

As crypto billionaire Roger Ver states, "Bitcoin needs to be used in commerce in order for it to be store of value. It has to be both of these things or neither."

Who really uses Bitcoin in commercial or retail transactions? Very few, considering how much of an opportunity it has had to evolve over the  years.

With GOOD we need to set our sights on the biggest opportunity in crypto; the consumer market. I'm not doing this for anything less.

But it doesn't mean that GOOD will just be a digital currency that you store in an e-wallet. That has been done before, and it probably won't work to do it that way.

We are doing something different with GOOD. And it may very well change how people think of cryptocurrencies.

[kosmost]

And let's not forget, the original purpose of Bitcoin was a digital currency.

However, the fact that Bitcoin has increased in value so significantly over the past several years means that most of the crypto world has forgotten its original purpose: to be used as a means of exchange (for goods and services). That is evidenced in the fact that if you want to purchase a newpaper or coffee, you may actually end up paying more in fees than the item itself costs. And you may also not have your transaction verified until up to 2 days later.

After the banks and insurance companies took over Bitcoin core, it ceased being built for its original purpose.

To put it another way:

Bitcoin and most altcoins: primarily as a store of value (e.g., "I might be able to make a 4,000% return if I buy DDY now and hodl") For me, this is just a way of holding "cash" that is difficult to spend and use.

GOOD and a few others: primarily as a means of exchange (e.g., "You can use this to buy that")

What people forget it that the more a coin/token is used in commercial transactions the more value it will have. So a coin that is used as a means of exchange will increase in value, perhaps more than the one used as mostly a store of value.

To put it yet another way:

Store of value: focus on the crypto community, pumps, scams, bag hodlers, and generally lots of drama. Consumers are usually forgotten about.

Means of exchange: focus on consumers. The crypto world comes after.

The idea with GOOD is to put it into as many hands of everyday consumers as possible. This is a multi-billion dollar opportunity, not just 8 or 9 figures in equivalent value.

[kosmost]

In case it's not obviously now, the "green" angle of GOOD is not entirely accurate. We will be going after the ENTIRE consumer market, not just a small segment of it. This has been good enough for the past few months as we work on the concept and execution, but as we approach beta release it will be a bit more obvious that it isn't just something for 'green' products and services, but for anything and everything that can be bought.

The Goodomy website would therefore read more like this:

Goodomy (formerly Good Karma) is a digital currency for consumer rewards. When you buy socially and environmentally-conscious products and services, you can be rewarded with Goodomy ("GOOD"). You will also be able to reward your friends on Facebook, Twitter, Instagram, videos you like on YouTube, your favorite blogs, and much more, as a kind of 'like' with real-world economic value.

Enterprise clients in the Ethereum Alliance such as Toyota, Microsoft, JP Morgan and others can use Goodomy to automatically reward their customers with Goodomy when they purchase a hybrid car, buy 'green bonds', move business applications to the cloud to reduce energy usage, and much more.

[note: yes, but this is only a small part of what Goodomy will be able to do]

The 'green' industry is one of the fast-growing segments of the broader economy. Organic products in the US alone are now available in nearly 20,000 natural food stores and nearly 3 out of 4 conventional grocery stores, comprising a $45 billion dollar market that is growing bigger every year. Imagine a consumer being rewarded with Goodomy when they choose organic oranges over regular oranges. Not only does this help to offset the usually more expensive organic choice in the consumer's mind, they will have an experience that can be shared with others.

Goodomy can be used as an incentive for customers in just about any industry. Companies may also choose to reward their employees with Goodomy for their achievements and performance. The possibilities are limitless.
And, all across the web, hundreds of millions of people are doing things for each other every day. Perhaps someone replied with a helpful comment or uploaded a photo that made them smile, or maybe the saw a video that really helped them on YouTube. Now they can give back to anyone on just about any kind of website in a more meaningful way than just a 'like' – they can reward them with Goodomy at the touch of a button via an easy-to-use browser add-on.

[note: the latter is a trivial consideration. Any kind of person-to-person exchange would be possible.]

There will be more info as we approach lift-off.

[kosmost]

880M coin may cause for low price of coin.

Hi. The total coin supply is actually quite low for what we're going to do. This will become much more obvious as the services are begun. This will be kind of like IOTA and their 2,779,530,283,000,000 tokens. High, yes, but completely necessary for what they are doing. (But that will come later in 2018 and it will be explained as we go along.)

However, the price of the coin is irrelevant by itself. What we can look at is the relative price in comparison to the coins each is being exchanged for.

Goodomy will represent an entire economy, not just a meaningless token running on Ethereum. But again, you'll see more of what I'm talking about once people start using the Shopomy app. Until then, none of this makes any real sense.

[kosmost]

I'm happy to announce that we will be releasing the first public beta within a week or so. As mentioned before, this beta will not have a few integral features just yet but will show how we will begin to approach the market that we're going after. It will be downloadable as an APK from the website and will have basic features such as account login, registration, product listings, and more.

Once phase 2 is completed it will be available on Google Play and (likely) on the iTunes store. I am anticipating phase 2 completion by late January or early February (due to holidays).

If anyone is interested, I can put up some screens tomorrow to give you an idea of how it will look.These will be older screens without the latest features and design changes.

Thanks for your patience!

(Also: The next few days is probably the absolute last chance to pick up extremely cheap tokens. Now that everyone has had enough time to pick up cheap tokens over the past few months while I've been working on designs, patents, etc., we aren't just going to the moon... we're off to interstellar space! I really hope members of the Karmacoin community have picked up their tokens, as they're the reason I started this project and have been offering everyone very, very cheap coins for the past few months. But that time is over and now we are ready for lift-off. Like I said, my goal with Goodomy is to beat Bitcoin's returns and of course make a great product for the average consumer while providing awesome value to token holders. We are definitely on our way!)

[kosmost]

Please note that once the app is released onto Google Play and we hit $40-60 million market cap equivalent (by total token supply) Goodomy will offer approximately 8-10M tokens from its account to the market in order to cover development costs, hire staff (part-time accountant, full-time developer, 1-2 marketing and community staff, etc), cover consulting costs (economist, business strategy, legal) and repay loans (cost of development that I am currently covering).

Further, additional coins will be released to the market in a schedule that is commensurate with the rise in market capitalization. We will also likely perform our first ICR in July-September 2018. Although I've detailed the ICR somewhat, this is just a general description for other tokens to use. Goodomy will use this strategy in a somewhat different way in order to substantially increase token price during 2018 and beyond. I'll provide more information as we approach the ICR. We don't want to give away all of our secrets just yet, do we?

[kosmost]

It is interesting to note that at the time that I came up with the idea for the first "ICO" in cryptocurrency history, not many could see the value of it. (Of course, it was not called ICO at the time. I called it POC (proof-of-coin, to secure the coin's economy) and IPOCO (Initial Public Offerings for COins).

As an example, here's a post I made to the Reddcoin community about how awesome it had been working for us, describing how Reddcoin (struggling like Karmacoin previous to the ICO) could benefit from the same measures.

Here is the top comment, quite prescient I think when we consider the possibilities of ICOs today to build the future.

In the year 2014, the cryptocurrencies began to evolve. In order to reinforce their economy, they created support systems, taking the first steps toward becoming true DACs. Little did humanity know, but that was the beginning of a revolution that would change their position in the hierarchy of the world...

Here is me proposing the idea, and a pre-announcement of the world's first ICO.

The reason I didn't want to do an ICO for Goodomy is because I've been thinking pretty deeply about ICOs probably longer than anyone else and realize that, while ICOs have many benefits, it will be the ICR (and its derivatives) that will truly be spectacular.

This isn't so much to toot my own horn about creating a multi-billion dollar market but to let you know that ICOs are peanuts compared to what's possible in future with ICRs. And Goodomy will be the first to implement them (in our own unique way, of course, that I'm sure other tokens will follow).

To interstellar space!

[bitChipper]

I'm happy to announce that we will be releasing the first public beta within a week or so. As mentioned before, this beta will not have a few integral features just yet but will show how we will begin to approach the market that we're going after. It will be downloadable as an APK from the website and will have basic features such as account login, registration, product listings, and more.

Once phase 2 is completed it will be available on Google Play and (likely) on the iTunes store. I am anticipating phase 2 completion by late January or early February (due to holidays).

If anyone is interested, I can put up some screens tomorrow to give you an idea of how it will look.These will be older screens without the latest features and design changes.

Thanks for your patience!

(Also: The next few days is probably the absolute last chance to pick up extremely cheap tokens. Now that everyone has had enough time to pick up cheap tokens over the past few months while I've been working on designs, patents, etc., we aren't just going to the moon... we're off to interstellar space! I really hope members of the Karmacoin community have picked up their tokens, as they're the reason I started this project and have been offering everyone very, very cheap coins for the past few months. But that time is over and now we are ready for lift-off. Like I said, my goal with Goodomy is to beat Bitcoin's returns and of course make a great product for the average consumer while providing awesome value to token holders. We are definitely on our way!)

Cool, interesting stuff! I am interested to see the screeenshots, i held some karma back in the day. What is an APK?