[ANN] Metronome, an autonomous cryptocurrency with predictable supply

[MTNToken]

Dont like the descending price auction. also, they havent even given payment addresses, metronome wallets, anything like that. its just like, at the last minute before it launches they'll say 'send us your ETH to this address, please buy early in the reverse auction and overpay or wait until the end when everyone else will buy in a scramble and probably miss out, and if you're somehow successful in negotiating this chaos we'll give you a random erc20 token that won't be worth anywhere near as much as the ETH you traded for it'. 'and by the way, we're keeping all the ETH and 20% of the new currency too'

'no thanks' is the comment you're looking for.

Hi,

Actually, all of the contract code has been made public on GitHub, like was announced in the 10 day countdown email and post. The wallet, along with detailed guides on how to use it and participate in the auction itself will be available soon.

Also, Metronome authors receive none of the proceeds (the ETH you're referring to) from any of the auctions. Those stay in the ecosystem to provide long term support for the community. This has been in the owner's manual, the FAQ, and other supporting documentation since we announced Metronome in late October.

You can read more about that here: https://medium.com/@MetronomeToken/on-metronome-author-retention-and-contract-behavior-73dad8f16494

And here:

https://medium.com/@MetronomeToken/proceeds-for-the-community-not-the-authors-d41874d4d41f

Hope all is well,

[MTNToken]

Comprehensive guides on how to participate in #Metronome's Initial Supply Auction via the Auction Board and the Metronome Wallet are now available.

From the the Metronome Wallet: https://medium.com/@MetronomeToken/how-to-purchase-metronome-from-the-metronome-wallet-51457f22239e

From the Auction Board: https://medium.com/@MetronomeToken/how-to-purchase-metronome-from-the-auction-board-ed36672f8ff2

[Cell24investments]

Point worth noting about this reverse auction - nothing at all to stop the developers periodically buying themselves at high prices throughout the auction to try and get FOMO going and make people buy in before they should (and these are overpriced for 99% of the auction time at least).

Be careful, even if you see large decreases in the amount available - it may well not be what it seems. Keep your own price in mind ie for me that would be literally the last half hour of the final day, if I even wanted this erc20 token, which I don't. If you see them being bought before then they are either being bought at too high a price or it's internal buying.

Just more reasons why this kind of auction is a ridiculous way to conduct an ICO, and why no other major crypto hasn't countenanced it.

[Fionoa]

Hi, there is technical documentation, maybe I missed where I can see the exact characteristics of your platform, its functions, is it a finished product?

[MTNToken]

Hi, there is technical documentation, maybe I missed where I can see the exact characteristics of your platform, its functions, is it a finished product?

Hi,

Yes, all of the code has been open sourced actually, I'll provide you the link: https://github.com/autonomoussoftware

Also yes, Metronome is launching as a functioning cryptocurrency.

Thanks!

[dragonvslinux]

When portal? Waiting to be able to see the Auction graph, contributed amount, etc. Thanks!

[matt_kirkson]

when lambo?  Never, with this one

When portal? Waiting to be able to see the Auction graph, contributed amount, etc. Thanks!

whem lambo?  never with this one

[MTNToken]

When portal? Waiting to be able to see the Auction graph, contributed amount, etc. Thanks!

The auction dashboard will begin to show live auction information once the auction goes live at Midnight UTC on June 18.

Thanks!

[MTNToken]

Letter from the Founders: Our Inspiration for Metronome:

https://medium.com/@MetronomeToken/letter-from-the-founders-our-inspiration-for-metronome-198a42460ac9

[MTNToken]

1 Day Until Metronome’s Launch:

https://medium.com/@MetronomeToken/1-day-until-metronomes-launch-25cd1194768c

[gembira]

So they will have an auction without hardcap? It shows how developers greedy and unproffesional. They must have hardcap with detailed business plan as any other ICO.

[Malabarka]

How to Purchase Metronome from the Auction Board https://medium.com/@MetronomeToken/how-to-purchase-metronome-from-the-auction-board-ed36672f8ff2

I plan to participate on the 8th day of the auction.

[jgarzik]

So they will have an auction without hardcap? It shows how developers greedy and unproffesional. They must have hardcap with detailed business plan as any other ICO.

Hard cap:   The auction has a hard cap.  The auction starts at the hard cap and counts down.  8M MET * 2 ETH price is maximum.

The roadmap is on the website.  This is one of the more professional projects in the space.

It is different from all other ICOs, so it takes some time to understand.

[B.A.S.]

Metronome (MTNToken) auction starts in 3 hrs. This sale isn't for newbies. Please be aware that $MET price will decrease every minute & will be fixed at the purchase time. Must read: https://medium.com/@MetronomeToken/1-day-until-metronomes-launch-25cd1194768c

[bitgirl2k18]

Be careful. People have already got confused and spent loads of ETH and not realised they would only get a few of these tokens at the current pricing!

Please be careful.

[Mota]

Be careful. People have already got confused and spent loads of ETH and not realised they would only get a few of these tokens at the current pricing!

Please be careful.

Well, I would not call not even 90 Eth "a lot". But I get your point.

[bitgirl2k18]

Be careful. People have already got confused and spent loads of ETH and not realised they would only get a few of these tokens at the current pricing!

Please be careful.

Well, I would not call not even 90 Eth "a lot". But I get your point.

I should have been a littler clearer, I meant individual purchases made so far and when they were made, rather than running total. Saw on their reddit someone sent 10 ETH just after this opened and they didn't understand they would only get 5 MET at that time, they're suffering big time. And looking at etherscan someone else sent 21 ETH, and there a few 5 and 7 ETH purchases. These account for most of the ETH they've received so far and I'm fairly sure that these buyers didn't realise the way this silly descending auction worked ie how little MET they would receive at that time.

I know buyer beware, do your research etc, but this ICO is particularly obtuse for those that don't.

[DenCho?]

Hello

1. From user manual I did not understand how new blocks will appear, how transactions will be verified in one chain? There were some words about POS+POW hybrid system, but nothing more about mining.
2. One more thing, how decisions about development will be made after net launch? Just forum wars and conferences? Or some kind of DAO is envisaged?
3. How will be chosen who validate and provide exporting tokens (cross chain)?
4. How will correlate changes in balances on different blockchains if speed depends on network characteristics as it is said?

I'm very interested in these questions. Your ICO is really non-standard and it's not bad, but people want to know some technical details, but you did not share your white paper(

Thank you

[Cell24investments]

Good questions. Another good one is why the silly reverse auction. Anyway not for me because related to your questions I don't see a purpose for this token. It will end up just another erc20 token that made the devs rich

[I Like Bitcoin]

Very interesting idea. This is something new. Can I somehow help to promote your project?