[SKY] Skycoin Launch Announcement

[mishax1]

Why are the devs anonymous?   I mean, you are trying to collect $50,000,000 .. yet you still hide behind bitmessage.

you mean like satoshi?

Satoshi didn't try to collect 50m$ , see the difference ?

[flowerpots]

I read about fair distribution. But how will all the coins be distributed?

[mishax1]

I read about fair distribution. But how will all the coins be distributed?

By selling them on a random exchange for a very high price.

[skycoin]

Satoshi originally envisioned a network of hundreds of thousand of computers and a distributed cryptographic asset. The Bitcoin network today is controlled by three mining pools. Bitcoin is not decentralized. A network controlled by three miners is clearly not decentralized. In fact Bitcoin is very fragile and falls short of the intended vision for what Bitcoin was to be.

Skycoin has really been a multi year research and development project to achieve the original vision of Bitcoin.

The most important problems the successor of Bitcoin must solve are not anonymous transactions or a turing complete scripting language or marketing boondoggles but are things that are much more fundamental and basic. How many of the forks of Bitcoin have solved transaction malleability, signature malleability and duplicate coinbase outputs?

For instance, even four years ago, Skycoin was the first coin where as a transaction ID identified a transaction. In Bitcoin and all successive forks, when a transaction was injected into the network, the transaction could be executed, while the transaction ID would never appear in the list of executed transaction (because of transaction malleability). Therefore it is necessary to scan each transaction for the unspent output set and set of created outputs, to determine if a transaction had been executed.

In other words, in Bitcoin (and all the succeeding forks), a transaction ID, does not actually uniquely identify a transaction and the transaction ID cannot be used to track whether a transaction has been executed.

How do we create transactions, whose transaction IDs can be used to track the status of the transaction?

How do we fix the duplicate coinbase output bug so that we do not have to monkey patch it (Bitcoin allows users to construct hash collisions)?

How do we create a coin where the network will remain decentralized and wont fall under the control of three mining pools? How do we keep the network robust and decentralized?

How do we permanently fix the Sybil, block propagation and network level attacks that people merely ignore until the network is attacked. Bitcoin has been successfully attacked multiple times and it was quickly and quietly dealt with in an adhoc way, but nothing has been changed to prevent the same from occurring again. Today, the attacks on the public bitcoin network do not even matter, because the three mining pools controlling the network are directly VPNed to each other.

Does mining and PoW really give the payment network security? Doesnt PoW merely mean that the network is controlled by whoever has the most money to buy mining equipment? Is giving control of the network to the person with the most money, the best option for ensuring that network remains decentralized and not subject to CYC blacklisting.

The Skycoin "mesh network" is not really a meshnet, but a form of software defined networking, that is a requirement (along with source independent networking primitives) for preventing the sybil and block propagation delay attacks.

Such as mathematical requirement of transitivity for connectivity between nodes,
- such that if A can connect to B and B can connect to C, that A is able to relay messages to C. (transitive closure)
- And requirements that nodes are authenticated and identified by public key and that a third party cannot impersonate another node without their private key. (opportunistic encryption)
- And that even with their private key, that they cannot insert data into an active communication session.
- that it can determined and verified with high probability, whether all peers in a connection set have reached the same "state" and have achieved synchronization of a set of hash objects (prove that if there are N objects identified by N hashes and you are connected to M peers, that every peer you are connected to has the full set of N objects and that you have every hash object that the set of peers you are connected to has).
- Consensus is never guaranteed to converge, unless it can be shown that every node is performing the consensus process from the same inputs (the same function is applied to the same input data). This is actually a mathematical assumption and necessary condition, that is assumed and left unverified in Bitcoin (and usually holds true under normal conditions, but which may not hold true under attack scenarios). This is deeply related to the problem of net split detection.

How do we create a Bitcoin, that will survive the release of preimage attacks on SHA256. There are several papers entering the public domain, suggesting that in five or twenty years there will be general methods of preimaging attacking almost all of the current hash functions in use, in a general way (such as by using 3-SAT solvers). Near term technical and mathematical innovations may render Bitcoin worthless overnight and invalidate the premise of Bitcoin's PoW mining algorithm (which is already invalidated by its tendency towards centralizing control of the network in one to three mining pools).

These are some of the challenges that are the reasons for Skycoin to exist. These are the foundational problems.

We are past the hard technical problems and now moving towards building up
- a community
- applications
- economy
- ecosystem
- usability

Now we are trying to explain what we have built and we are building up a swiss army knife of libraries, daemons and applications and building out of an ecosystem. We are past the point where you can just clone Bitcoin or launch a new cryptoasset, there has to be a reason for people to use it. It has to be useful to people and has to get a large number of users in the ecosystem.

--- secrets of the coin

Skycoin has two sets of foundation questions
- technical and algorithm and architecture (mathematical)
- human and economic (psychological and behavioral)

[mishax1]

This ICO round, however we are only selling 500,000 coins at $0.52 /coins, so total is only $260,000. Not $50,000,000 .

That's 0.5% of the total premined coins (100million).
Also, the price is very high and you are not leaving much room for future increase and profit for the investors, the higher the price, higher the amount of money needs to be invested to increase the initial investment ESPECIALLY if bought with Bitcoin with it's price being increased all the time.
Selling only 0.5% now and saying this is only $260,000 while keeping the rest of the 99m coins valued at $49.5m is a weird way to fund a project.

We priced it so that the price per coin would increase 20x to 50x, to be in top 8 coins.

It can't go x20 , x50 because of the reason stated above ^^

There are like ~30 people working on the project or involved and they are all relatively easy to contact

Yet, we don't know who they are or who runs this show.  The reason i'm asking is not because there is no development going on, it is because since 2013 we should have seen something more significant , at least for the sake of the early investors, and hiding behind internet walls is not helping you get more credibility.

[Momimaus]

This ICO round, however we are only selling 500,000 coins at $0.52 /coins, so total is only $260,000. Not $50,000,000 .

That's 0.5% of the total premined coins (100million).
Also, the price is very high and you are not leaving much room for future increase and profit for the investors, the higher the price, higher the amount of money needs to be invested to increase the initial investment ESPECIALLY if bought with Bitcoin with it's price being increased all the time.
Selling only 0.5% now and saying this is only $260,000 while keeping the rest of the 99m coins valued at $49.5m is a weird way to fund a project.

We priced it so that the price per coin would increase 20x to 50x, to be in top 8 coins.

It can't go x20 , x50 because of the reason stated above ^^

There are like ~30 people working on the project or involved and they are all relatively easy to contact

Yet, we don't know who they are or who runs this show.  The reason i'm asking is not because there is no development going on, it is because since 2013 we should have seen something more significant , at least for the sake of the early investors, and hiding behind internet walls is not helping you get more credibility.

Don´t like it, don´t buy it.

[cybterpunk]

when skycoin will be listed on exchange？

[BTCspace]

3.5 years past since the first thread of skycoin. and i am old.

where can i download skycoin wallet?

thank you

[skycoin]

3.5 years past since the first thread of skycoin. and i am old.

where can i download skycoin wallet?

thank you

Skycoin.net

We are trying to speed it up. We have a few thousand commits on github and everything took longer than we could imagine.

New wallet build soon.

[skycoin]

This ICO round, however we are only selling 500,000 coins at $0.52 /coins, so total is only $260,000. Not $50,000,000 .

That's 0.5% of the total premined coins (100million).
Also, the price is very high and you are not leaving much room for future increase and profit for the investors, the higher the price, higher the amount of money needs to be invested to increase the initial investment ESPECIALLY if bought with Bitcoin with it's price being increased all the time.
Selling only 0.5% now and saying this is only $260,000 while keeping the rest of the 99m coins valued at $49.5m is a weird way to fund a project.

We priced it so that the price per coin would increase 20x to 50x, to be in top 8 coins.

It can't go x20 , x50 because of the reason stated above ^^

There are like ~30 people working on the project or involved and they are all relatively easy to contact

Yet, we don't know who they are or who runs this show.  The reason i'm asking is not because there is no development going on, it is because since 2013 we should have seen something more significant , at least for the sake of the early investors, and hiding behind internet walls is not helping you get more credibility.

No method or price will make everyone happy. We had to make decisions and trade offs.

There are twenty page descriptions earlier, about the different possibilities that could be have been chosen and what we felt the outcome of each would be and what the advantages and disadvantages of each were and what we chose.

The market cap is not 50 million. That is fake. Ripple uses this trick to inflate their market cap, when the coins are actually locked or illiquid. The market cap is the free float, times the price per coin. The coins do not exist until they have been distributed (just as the coins in bitcoin do not exist until they have been mined). There is just a cap on the total number of possible coins that can ever exist.

The undistributed coins are locked in sequential designated addresses, so that the distribution can be verified. There will be software locks on the undistributed coins also, such as an upper cap on distribution rate or other mechanism.

[BTCspace]

when ico start?

you should sell more coins ...

[mladen00]

when ico start?

you should sell more coins ...

you can buy SKYcoins on https://www.c2cx.com

[tobeaj2mer01]

This is a good project in technical but bad project in market.

[amiraja]

  skycoin probably could have been better if there was a campaign of social media such as facebook and twetter

[BTCspace]

when ico start?

you should sell more coins ...

you can buy SKYcoins on https://www.c2cx.com

where can i sell ?

[BTCspace]

Total SKY Redeemed: 7250 of 500000 SKY

no one want to buy it?

[Alohaboy?!]

Total SKY Redeemed: 7250 of 500000 SKY

no one want to buy it?

I think just nobody is aware of the opportunity to buy there

[dadingsda]

Bounty for german translation?

[digaran2]

3.5 years past since the first thread of skycoin. and i am old.

where can i download skycoin wallet?

thank you

Skycoin.net

We are trying to speed it up. We have a few thousand commits on github and everything took longer than we could imagine.

New wallet build soon.

wow,3.5 years past,the wallet have not complete! It is craze!

[skycoin]

Update:

Blockchain explorer almost done. Check github.
- github.com/skycoin/skycoin

New website
- skycoin.net

Exchange API and automated withdrawals and deposits has been in testing for a few months. Minor bugs fixed.

- We are working on "narrative" and explaining the differences between Skycoin and Bitcoin clearly and how the consensus process differs.
- Creating a movie to explain the project clearly
- Releasing the first applications that users can use and get coins.

The altcoin space is saturated with spam coins and we need to be very clear, concise and have a systematic marketing plan.

We might go back and just focus directly on the coin and the properties of the coin, instead of focusing on the ecosystem and software we are writing, because it is too complicated and long term to communicate easily.