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

[bitChipper]

So I think that for this to succeed the app will HAVE to be used, your projections go from 60 users in March 2018 to
18,000 users in June. This is pretty rapid growth, how do you plan to achieve this?

Im sure that you have answered this somewhere but sorry I don't want to dig through the ANN, we kinda need a centralized source
of information here.

Also FITE is part of REMI that will help businesses make use of the platform, they also have a projection going from 12 to 850
in those months. I'm still not sure what they are though? Are they like a different type of user?

I noticed that virtual products are aimed to be added in 2019, this could be huge if done right.

Lastly I noticed Ad revenue projected for 2018, how do you intend to integrate this? An ad free app would be ideal in my opinion.

this is all constructive criticism at worse, i like this project or i wouldn't be here

[kosmost]

So I think that for this to succeed the app will HAVE to be used, your projections go from 60 users in March 2018 to
18,000 users in June. This is pretty rapid growth, how do you plan to achieve this?

Im sure that you have answered this somewhere but sorry I don't want to dig through the ANN, we kinda need a centralized source
of information here.

Hey, thanks for your questions.

For Shopomy to succeed, Shopomy will have to be used by at least 300 users in one city, I think. However, there are other use cases for Goodomy in development. Shopomy is just the first one and the focus for now.

That is to say, the success of Goodomy won't depend on the app's success.

The growth would be measured weekly per location. 60 users is the approximate test base for the first market (e.g., Los Angeles) with other cities being pushed after that. The March-June period being about 12-15 weeks and about 50% growth week-on-week across all locations until it hits a saturation level. 200-500% weekly growth for the first few months is not uncommon for apps that have similar economic or gamification features.

Also FITE is part of REMI that will help businesses make use of the platform, they also have a projection going from 12 to 850
in those months. I'm still not sure what they are though? Are they like a different type of user?

You can think of FITE as store listings, and REMI as the process behind the listings.

I may create a "bluepaper" that details the logic behind these processes when phase 2 is released. But it's also good to see it in action.

Lastly I noticed Ad revenue projected for 2018, how do you intend to integrate this? An ad free app would be ideal in my opinion.

These won't be the typical mobile ads but promoted listings, like ebay or Amazon. It won't interrupt the user experience in any way.

this is all constructive criticism at worse, i like this project or i wouldn't be here

A pleasure! It helps the process and lets me know what people are thinking. If you have any other questions or suggestions please feel free.

[koozia]

Hello, I bought some GOOD on EtherDelta. But the SMART contract seems to be GOODKARMA, not GOODOMY. Do I need to do something with ? Or nothing needed ?

[kosmost]

Hello, I bought some GOOD on EtherDelta. But the SMART contract seems to be GOODKARMA, not GOODOMY. Do I need to do something with ? Or nothing needed ?

Hi. You can input your wallet address on line 5 here:
https://etherscan.io/address/0xae616e72d3d89e847f74e8ace41ca68bbf56af79#readContract

If there is a result for the uint256 value just take away 6 zeros to confirm the number of tokens in your possession.

If there is no result, please let me know.

Note that the contract is immutable, so it still says our old name (Good Karma). This will change in the next few months to the correct name.

Also note that the "GOOD" trading on EtherDelta now isn't confirmed to be Goodomy/GoodKarma. But if a token value shows up for our Ethereum address you are fine. (I deleted all references to them a few months ago, including from CoinMarketCap)

[koozia]

It seems to be OK


I bought this coins on august on ethedelta. Can I let them on MyEtherWallet ?

[tramese]

if there is no ICO on this,

how were the initial GOOD coins distributed? before they were listed on etherdelta?

[kosmost]

It seems to be OK



I bought this coins on august on ethedelta. Can I let them on MyEtherWallet ?

It should be okay. It's probably the most popular choice. But a more secure method may be to install the MyEtherWallet on your local machine. It's very, very simple.

You can find the link to download the website from the bottom of their their website, which will lead you to https://github.com/kvhnuke/etherwallet/releases/tag/v3.10.9.7

(however, always check to make sure you are on the correct MyEtherWallet website + green SSL bar)

Some people run the website locally from a separate machine that isn't connected to the internet. There's a way to post offline transactions.

Hope this helps

[kosmost]

if there is no ICO on this,

how were the initial GOOD coins distributed? before they were listed on etherdelta?

Before they were listed on the exchange, they had not yet been distributed.

And about half of the supply is still with the contract, to be distributed in a different way than it first was.

Let me know if you have any other questions or suggestions. Thanks

[tramese]

if there is no ICO on this,

how were the initial GOOD coins distributed? before they were listed on etherdelta?

Before they were listed on the exchange, they had not yet been distributed.

And about half of the supply is still with the contract, to be distributed in a different way than it first was.

Let me know if you have any other questions or suggestions. Thanks

so you just had the tokens listed on the exchange upon launch for very cheap to initiate trading?

I support your project, just can't find if this coin was sold upon exchange or what

[kosmost]

if there is no ICO on this,

how were the initial GOOD coins distributed? before they were listed on etherdelta?

Before they were listed on the exchange, they had not yet been distributed.

And about half of the supply is still with the contract, to be distributed in a different way than it first was.

Let me know if you have any other questions or suggestions. Thanks

so you just had the tokens listed on the exchange upon launch for very cheap to initiate trading?

I support your project, just can't find if this coin was sold upon exchange or what

Hi. Thanks. Here's the relevant post: https://bitcointalk.org/index.php?topic=1969334.msg19854603#msg19854603

Let me know if I can clarify it further.

[tramese]

okay thanks, I read it.

and I know you're planning to upgrade to ERC22 swap and possibly on another free transaction chain.

are you planning to keep it 1:1 swap, or whats the plan on that.

I loaded up a nice bag of GOOD and plan to buy more . shhhhh.


also, thanks for being responsive and transparent on everything.

[Iruwen]

also, thanks for being responsive and transparent on everything.

Indeed.

[Tara11]

My GOODs on etherdelta disappeared. Looks it has something to do with hack.

[tramese]

My GOODs on etherdelta disappeared. Looks it has something to do with hack.

nah, etherdelta is really laggy...and it was probably me buying up your GOODs

yea etherdelta was hacked last week...it's possible u sent to hacker's address.

dont use that trash exchange.

[kosmost]

okay thanks, I read it.

and I know you're planning to upgrade to ERC22 swap and possibly on another free transaction chain.

If another platform is viable (and stable) before then, we may launch with that. EOS looks very promising, but it won't really be usable until summer. An upgrade to ERC223 may make sense for added security and also to avoid confusion with the old name on our current contract (which cannot be changed). It may also be that we keep the current contract and just wait for EOS.

Running two separate blockchains is also something I have been thinking about (one for Goodomy and one for Shopomy). It would open up some interesting possibilities which we can get more into when it's time to make a decision. We could have the best of 'both worlds', whatever the two best may be at the time.

are you planning to keep it 1:1 swap, or whats the plan on that.

I loaded up a nice bag of GOOD and plan to buy more . shhhhh.

Hope your goodie-bag gets bigger

What's more important than a 1:1 swap is a %:% swap, keeping the same percentage of total circulation as you had before, I think.

For example, you might have 1,000 old tokens to exchange for 1,000 new tokens. That would be a 1:1 swap. But if the new token has 10x the total supply your % would be decreased.

So for whatever the ratio we decide on for whatever reason (1:1, 1:2, 1:5, etc) we would want to be sure that everyone has the exact same percentage they had before. I wouldn't have it any other way.

also, thanks for being responsive and transparent on everything.

Thanks. I know how important investor relations is (as it was something I did before, professionally). On the other hand, I must be somewhat opaque to maintain our first-mover advantage. But in a few months we should be able to better-communicate the vision, how it works, and have one or two professionals on hand to field all kinds of queries from tokens holders and the general public in a much more transparent way than we have now.

[kosmost]

My GOODs on etherdelta disappeared. Looks it has something to do with hack.

I'm not sure of your exact situation but these instructions for withdrawing from EtherDelta using myetherwallet may help: https://www.reddit.com/r/EtherDelta/comments/6hrxjw/etherdelta_guides_for_first_time_users/dn6heno/?st=jbsqve4u&sh=45ed90ea

Hope your tokens are okay

[tramese]

What's more important than a 1:1 swap is a %:% swap, keeping the same percentage of total circulation as you had before, I think.

For example, you might have 1,000 old tokens to exchange for 1,000 new tokens. That would be a 1:1 swap. But if the new token has 10x the total supply your % would be decreased.

So for whatever the ratio we decide on for whatever reason (1:1, 1:2, 1:5, etc) we would want to be sure that everyone has the exact same percentage they had before. I wouldn't have it any other way.

yea i agree, as long as it's the same before and after, it's good.

this gives me confidence you're doing it right.

also, is there a disclosure how much % stake you own.

I know half is till held for future purposes, but at the end of the day, is there a concrete stake holdings you plan to keep?


and for the ICR, the repurchased tokens are burned? or retained in the 'corporation'?

[kosmost]

What's more important than a 1:1 swap is a %:% swap, keeping the same percentage of total circulation as you had before, I think.

For example, you might have 1,000 old tokens to exchange for 1,000 new tokens. That would be a 1:1 swap. But if the new token has 10x the total supply your % would be decreased.

So for whatever the ratio we decide on for whatever reason (1:1, 1:2, 1:5, etc) we would want to be sure that everyone has the exact same percentage they had before. I wouldn't have it any other way.

yea i agree, as long as it's the same before and after, it's good.

this gives me confidence you're doing it right.

also, is there a disclosure how much % stake you own.

I know half is till held for future purposes, but at the end of the day, is there a concrete stake holdings you plan to keep?

I don't actually own any tokens. This may come as a surprise, but I am looking forward to, along with the management team, getting a nice, steady income from Goodomy. This may happen when we have some governance (or board) in place and they agree to that. I'm thinking that it will be a percentage of profits or year-on-year market cap increase to incentivize us to deliver both bigger profits and bigger returns. A steady income is much more attractive to me than tokens because it allows me to focus on value of what we're doing rather than today's price and constantly checking it like I see a lot of other developers do.

It also helps to prevent market manipulation via dumping from those with inside information.

For the management team, I would think a salary would be better than giving someone tokens. Yes, the team should have a stake in the project but this could be through fiat bonuses rather than tokens. We don't want to look back in 10 years and wonder why we gave the office maid $5 million worth of tokens (when they were only worth $100 at the time). Think of the $100 million Bitcoin pizza and how stupid the person who ordered and paid for it in Bitcoin must feel now. Looking back, they would have preferred to pay cash. This method helps to preserve future value. We don't want to write people blank checks just because they're part of the team. It also makes accountants more happy, which tells me that it's probably the best strategy for stability and growth.

I also may benefit from patent licensing. The technology itself will not be patented but the business methods utilized in Shopomy will be, as protection against direct competitors. The more successful it is the more valuable the license will be. This also allows me to focus on making the whole economy as valuable as possible, again rather than being distracted by token price.

Back in the day (before and during the bubble) I had some stakes in some (non-client) startups and was constantly checking my Bloomberg terminal. I wasted a lot of time I could have used more productively. I also didn't get much sleep and wasn't really able to focus on the task at hand. Hopefully this is a much better way of doing it while saving more tokens for others who believe in the project.

The project actually began as a way for holders of the (nearly-defunct) Karmacoin to get some kind of value from their tokens. I was trying to revive Karmacoin but the person in charge (who wasn't doing anything for years) didn't like it. So, then I decided to start 'Good Karmacoin'. Not many were interested at the time, nor saw the value of having it on the Ethereum platform. My primary motivation for creating this token was actually to 'do something good' for the Karmacoin community when I saw nothing was going on with it. But as time went on I realized I could implement some plans I had been working on into the new token. And so here we are

[kosmost]

and for the ICR, the repurchased tokens are burned? or retained in the 'corporation'?

The repurchased tokens will be re-sold again and again for Goodomy capital, not burned. We'll actually need far more supply of tokens, not less. We would be using our resources to purchase the tokens so will extract value from them through the ICR+.

As we approach the first ICR+ period we'll outline the plans, the reasoning and methodology, and show how it will provide benefit all parties.

[tramese]

Interesting....

so you plan to have no equity, but want the steady income.

so as token holders, do we have ownership of any of the patents, software, etc...or is it purely on price change appreciation, and ICR?