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Author Topic: [SKY] Skycoin Launch Announcement  (Read 381237 times)
GTTIGER
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April 15, 2017, 09:05:41 PM
 #2721

Right. Only thing is nobody knows how many coins will be available in next phase.

The distribution methodology is being worked out. I highly doubt that there is going to be anymore ICO phases.
I think the dev had it right when he said that icos are a good thing. Incremental icos that increase by 50% sounds nice. However, I believe current price is too high. Total mkt cap based on total supply should be 20 mill so that there is room to grow. Growth is its own marketing. So I think some coins should be burned if that's possible. 

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April 15, 2017, 09:07:58 PM
 #2722

Right. Only thing is nobody knows how many coins will be available in next phase.

The distribution methodology is being worked out. I highly doubt that there is going to be anymore ICO phases.
I think the dev had it right when he said that icos are a good thing. Incremental icos that increase by 50% sounds nice. However, I believe current price is too high. Total mkt cap based on total supply should be 20 mill so that there is room to grow. Growth is its own marketing. So I think some coins should be burned if that's possible. 


It's a complicated problem because with a coin like this - you want it in the right hands. This is specifically correlated to technical development.

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April 16, 2017, 01:54:39 AM
 #2723

distributing the coin by paying the developer the coin make for a quality product.  If you was a coder working you want to deliver the best product before the release of the new update.. many dev's once receive the funds have nothing at stake many project develop very slowly and do not care at the end of the week..
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April 17, 2017, 12:49:52 AM
 #2724

I don't get it.

Is this being actively traded or no?

Can I buy some anywhere at ICO price? Someone help a brotha out  Huh Huh

Will buy OTC

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  Website
    Twitter
      Gitlab
      Reddit
    Telegram
Whitepaper
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April 17, 2017, 01:02:37 AM
 #2725

I don't get it.

Is this being actively traded or no?

Can I buy some anywhere at ICO price? Someone help a brotha out  Huh Huh

Will buy OTC

It's a bit of a complex project, it's trading on cryptopia but no one is willing to sell it for ico price, me included. lol I am Waiting to see how it does on a bigger exchange with more volume before I even consider selling any. Best shot at buying at or  near ICO price is to set some low buy orders on cryptopia. If holders are this strong can you imagine the price if it gets added to a bigger exchange. lol
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April 17, 2017, 11:47:09 AM
 #2726

I don't get it.

Is this being actively traded or no?

Can I buy some anywhere at ICO price? Someone help a brotha out  Huh Huh

Will buy OTC

It's a bit of a complex project, it's trading on cryptopia but no one is willing to sell it for ico price, me included. lol I am Waiting to see how it does on a bigger exchange with more volume before I even consider selling any. Best shot at buying at or  near ICO price is to set some low buy orders on cryptopia. If holders are this strong can you imagine the price if it gets added to a bigger exchange. lol

I tried sending skycoin, it is super fast.
I can't imagine anyone selling it under ICO price.
We don't know if there is still another round of ICO at 1500 skycoin/1 btc, so hold your skycoin tight.
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April 17, 2017, 03:36:56 PM
 #2727

Such a good coin, comparable to maidsafe etc. But... this distribution confusion kinda takes away from everything.

We are trying to address issues

http://explorer.skycoin.net/api/coinSupply

The reality, is that we are only able to focus on one thing at a time and do it well.
- we focused on
-- getting wallet fixed and on website
-- APIs implemented
-- blockchain explorer
-- website
-- exchange listing
-- quality assurance

we finished that
- but we had to cut back on hiring for new software development and hiring developers

now we are doing
- hiring marketing people
- infographics
- narratives
- video production for introduction and educational videos
- translation of website
- exchange listing
- communication with user community
- building up user community

Then after that, we are doubling the number of project managers and tripling the number of developers.

We have a single frontend developer, spread across three applications and he has backlog of 80 tickets. It will take him eight months, just to get through those ticket and that does not even include our next generation "universal wallet" and completely redoing the wallet from scratch, for multicoin, exchange and thin client support.

Then we have to do consensus/node explorer

We have to get first meshnet applications working

We have to get meshnet binaries on the website

We have to upgrade the execution environment so it runs headless

We have to add UDP firewall hole punch and STUN to the meshnet node

We have to implement first version of orchestration and bandwidth metering for the meshnet node.

We have to do benchmarking and optimization

We have to do four months of work on consensus implementation, moving consensus over to CXO and then have to gut and rewrite the whole skycoin networking stack (this is six months worth of work).

Then we have to hire two to three developers per team and need six teams working on six separate applications on top of Skywire and CXO.

We need to hire more infographics, marketing, community managers. We need to hire person full time just to prepare infographics, narrative and press kit and do media relations with the bloggers and pod casters.

We have to get part time devops guy to build bot for running integration tests. Our automated golang installations are failing because of DNS blocking and we have to switch from docker to coreOS. We have to have custom golang program written for doing SSH proxying so we can access servers behind firewall that do not have static IP.

We have to deal with peer-exchange for skycoin nodes, which was just enabled and get peer-exchange working for CXO. We need some type of DHT or tracker service for peer-discovery.

We have to start upgrading the skycoin and CXO networking stack, so it will be ready to run over Skywire in the future.

We have to have mobile team start on a native mobile wallet, now that the gomobile API bindings are done.

We need to do website, wallet and mobile translations into English, Chinese, Japanese, Korean, Russian and French.

We have to hire people for writing script, story board and then for video production and animation for our first videos. Then as soon as those are done, we need to start from scratch and do second round of improved videos.

That is just the next 8 months and is intermediate term.

ETC...

---

ALL OF THOSE THINGS ARE HIGHER IMMEDIATE PRIORITY THAN DISTRIBUTION

---

There are people who sent us 2, 5 and 50 Bitcoin and we cannot find them or communicate with them because they never sent us their Skycoin addresses. We are still trying to just get people the coins they bought and figure out who was sent what, from a year ago.

It is absolute chaos over here.

Within six hours of cointopia listing Skycoin (which we were never notified about until after it happened), we had to do emergency bug fix and take six nodes down off of network and had to fix bug in blockchain explorer.

We do not have enough people in place to respond. Everything is happening very quickly.

---

The "distribution issue" is not something we can "solve", so there is no time or anyone assigned to it. We have to stop focusing on issues that have no practical solution and need to focus on what we can make progress on.

We have determined that no solution is possible that a large percentage of people will not complain about, so no amount of effort will be able to make progress on that issue. So any effort placed into it, will be unproductive and wasted.

While we have MASSIVE backlog of bugs just to fix, and also massive hiring backlog and massive project management backlog, and massive marketing backlog and massive backlog of future development tasks to work through.

http://explorer.skycoin.net/api/coinSupply

Our distribution schedule is based upon Bitcoin's distribution schedule. We are only at 5.5% of coins distributed. It is going to take at least five years until we get to the distribution percentage Bitcoin is at right now.

We are not even at the development point, where the infrastructure needed for optimal distribution is implemented yet. The meshnet is not operating and it is impossible to run a node right now we have several years worth of development work and several dozen applications to implement, to just bootstrap the core network.

None of the documentation or infographics is done and 95% of people do not even understand what they are buying.

We do not even have the white papers for the network or skycoin ecosystem up yet or anything on website about applications or timeline. WE ARE NOT AT STAGE TO BE WORRYING ABOUT DISTRIBUTION.

--- How Skycoin Screwed Up

We did it wrong, we should have
- released no source code
- done no work on software
- focused completely on marketing, website and video
- raised 10 million dollars in an ICO
- spend 80% of the money raised, for buying media to pump the coins and then run away with the other 20%

Then we would not have to answer criticism over the distribution.

I have never seen anyone, ever complain about the distribution of the pump and dump coins or recent ICOs.

Skycoin seems to be held to a much higher standard than the other coins.

It is like people complaining about the distribution of Google stock. "I want free Google stock", "The ownership of Google stock is too concentrated", etc. To get the stock, you have
- contribute something to its success to get it
- buy it

Else you do not get any. They did not do a "Coin Drop".

One person started with 100% ownership and the ownership became more decentralized over time. The ownership never became fair or equal. Most people are in debt and working at minimum wage jobs and are one pay check from starvation and will never be able to afford to own even a single Google share.

I do not know what the solution to the "distribution" problem is. I do not think there is a solution, that will make everyone happy. No one has suggested any solution.

We should be focusing on the price per skycoin, not the distribution. If you bought Skycoin at a penny and the price went to $50, then no one is going to complain. The price per coin is concrete, while the "distribution" is ephemeral and meaningless.

And we should especially be focusing, not on the price, but what we achieve in the world. Even the price per coin is secondary to impact and the project goals.

In every other coin
- they raise a huge amount of money
- they spend the money on marketing, to pump the price up from the ICO
- whether they achieve what they set out to do, is irrelevant because the developers will become rich and quit as soon as the pump is successful. Even if the developers keep working, they will be lazy and slow. Everyone who knows the Ethereum people, knows this problem.

I think ultimately we have to say "Skycoin is not about the price" and the distribution is probably irrelevant also. I think Bitcoin failed, as a crypto-currency as soon as the community measured its success and failure based upon what the price is every five minutes. People forgot why Bitcoin exists and what it was a response to and then it just became a number that went up and down and became like horse racing or fantasy football, with no real impact on the world. It simply became irreverent.

We should not let the community get dragged down into discussion of the price/distribution and should focus on the project objectives and what we are trying to accomplish and how we are going to get it done.

skycoin
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April 17, 2017, 03:48:43 PM
 #2728

I don't get it.

Is this being actively traded or no?

Can I buy some anywhere at ICO price? Someone help a brotha out  Huh Huh

Will buy OTC

It's a bit of a complex project, it's trading on cryptopia but no one is willing to sell it for ico price, me included. lol I am Waiting to see how it does on a bigger exchange with more volume before I even consider selling any. Best shot at buying at or  near ICO price is to set some low buy orders on cryptopia. If holders are this strong can you imagine the price if it gets added to a bigger exchange. lol

I tried sending skycoin, it is super fast.
I can't imagine anyone selling it under ICO price.
We don't know if there is still another round of ICO at 1500 skycoin/1 btc, so hold your skycoin tight.

I do not think there is another ICO round, right now. Maybe in a few months.

No one is selling the coin, everyone is hoarding so there is no liquidity. It was seven times over the ICO price for a while. There are only 5600 Skycoin on cryptopia last time I checked. You cannot even buy a large number of coins if you tried.

We are getting a lot of messages from people who want to buy OTC because there is no liquidity on the exchange. If you tried to buy 5000 SKY, you cannot, because no one is selling.

We are talking to market makers, who will set up a bot so that people can move 10 Bitcoin in and out of Skycoin at a time, without the price moving much. We only have market maker bot for C2CX right now.

seek4dream
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April 17, 2017, 04:04:06 PM
 #2729

Skycoin, thanks for the update.
With such a long list which you guys are doing, I am pretty sure skycoin will be huge.
GTTIGER
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April 17, 2017, 04:19:38 PM
 #2730

Such a good coin, comparable to maidsafe etc. But... this distribution confusion kinda takes away from everything.

We are trying to address issues

http://explorer.skycoin.net/api/coinSupply

The reality, is that we are only able to focus on one thing at a time and do it well.
- we focused on
-- getting wallet fixed and on website
-- APIs implemented
-- blockchain explorer
-- website
-- exchange listing
-- quality assurance

we finished that
- but we had to cut back on hiring for new software development and hiring developers

now we are doing
- hiring marketing people
- infographics
- narratives
- video production for introduction and educational videos
- translation of website
- exchange listing
- communication with user community
- building up user community

Then after that, we are doubling the number of project managers and tripling the number of developers.

We have a single frontend developer, spread across three applications and he has backlog of 80 tickets. It will take him eight months, just to get through those ticket and that does not even include our next generation "universal wallet" and completely redoing the wallet from scratch, for multicoin, exchange and thin client support.

Then we have to do consensus/node explorer

We have to get first meshnet applications working

We have to get meshnet binaries on the website

We have to upgrade the execution environment so it runs headless

We have to add UDP firewall hole punch and STUN to the meshnet node

We have to implement first version of orchestration and bandwidth metering for the meshnet node.

We have to do benchmarking and optimization

We have to do four months of work on consensus implementation, moving consensus over to CXO and then have to gut and rewrite the whole skycoin networking stack (this is six months worth of work).

Then we have to hire two to three developers per team and need six teams working on six separate applications on top of Skywire and CXO.

We need to hire more infographics, marketing, community managers. We need to hire person full time just to prepare infographics, narrative and press kit and do media relations with the bloggers and pod casters.

We have to get part time devops guy to build bot for running integration tests. Our automated golang installations are failing because of DNS blocking and we have to switch from docker to coreOS. We have to have custom golang program written for doing SSH proxying so we can access servers behind firewall that do not have static IP.

We have to deal with peer-exchange for skycoin nodes, which was just enabled and get peer-exchange working for CXO. We need some type of DHT or tracker service for peer-discovery.

We have to start upgrading the skycoin and CXO networking stack, so it will be ready to run over Skywire in the future.

We have to have mobile team start on a native mobile wallet, now that the gomobile API bindings are done.

We need to do website, wallet and mobile translations into English, Chinese, Japanese, Korean, Russian and French.

We have to hire people for writing script, story board and then for video production and animation for our first videos. Then as soon as those are done, we need to start from scratch and do second round of improved videos.

That is just the next 8 months and is intermediate term.

ETC...

---

ALL OF THOSE THINGS ARE HIGHER IMMEDIATE PRIORITY THAN DISTRIBUTION

---

There are people who sent us 2, 5 and 50 Bitcoin and we cannot find them or communicate with them because they never sent us their Skycoin addresses. We are still trying to just get people the coins they bought and figure out who was sent what, from a year ago.

It is absolute chaos over here.

Within six hours of cointopia listing Skycoin (which we were never notified about until after it happened), we had to do emergency bug fix and take six nodes down off of network and had to fix bug in blockchain explorer.

We do not have enough people in place to respond. Everything is happening very quickly.

---

The "distribution issue" is not something we can "solve", so there is no time or anyone assigned to it. We have to stop focusing on issues that have no practical solution and need to focus on what we can make progress on.

We have determined that no solution is possible that a large percentage of people will not complain about, so no amount of effort will be able to make progress on that issue. So any effort placed into it, will be unproductive and wasted.

While we have MASSIVE backlog of bugs just to fix, and also massive hiring backlog and massive project management backlog, and massive marketing backlog and massive backlog of future development tasks to work through.

http://explorer.skycoin.net/api/coinSupply

Our distribution schedule is based upon Bitcoin's distribution schedule. We are only at 5.5% of coins distributed. It is going to take at least five years until we get to the distribution percentage Bitcoin is at right now.

We are not even at the development point, where the infrastructure needed for optimal distribution is implemented yet. The meshnet is not operating and it is impossible to run a node right now we have several years worth of development work and several dozen applications to implement, to just bootstrap the core network.

None of the documentation or infographics is done and 95% of people do not even understand what they are buying.

We do not even have the white papers for the network or skycoin ecosystem up yet or anything on website about applications or timeline. WE ARE NOT AT STAGE TO BE WORRYING ABOUT DISTRIBUTION.

--- How Skycoin Screwed Up

We did it wrong, we should have
- released no source code
- done no work on software
- focused completely on marketing, website and video
- raised 10 million dollars in an ICO
- spend 80% of the money raised, for buying media to pump the coins and then run away with the other 20%

Then we would not have to answer criticism over the distribution.

I have never seen anyone, ever complain about the distribution of the pump and dump coins or recent ICOs.

Skycoin seems to be held to a much higher standard than the other coins.

It is like people complaining about the distribution of Google stock. "I want free Google stock", "The ownership of Google stock is too concentrated", etc. To get the stock, you have
- contribute something to its success to get it
- buy it

Else you do not get any. They did not do a "Coin Drop".

One person started with 100% ownership and the ownership became more decentralized over time. The ownership never became fair or equal. Most people are in debt and working at minimum wage jobs and are one pay check from starvation and will never be able to afford to own even a single Google share.

I do not know what the solution to the "distribution" problem is. I do not think there is a solution, that will make everyone happy. No one has suggested any solution.

We should be focusing on the price per skycoin, not the distribution. If you bought Skycoin at a penny and the price went to $50, then no one is going to complain. The price per coin is concrete, while the "distribution" is ephemeral and meaningless.

And we should especially be focusing, not on the price, but what we achieve in the world. Even the price per coin is secondary to impact and the project goals.

In every other coin
- they raise a huge amount of money
- they spend the money on marketing, to pump the price up from the ICO
- whether they achieve what they set out to do, is irrelevant because the developers will become rich and quit as soon as the pump is successful. Even if the developers keep working, they will be lazy and slow. Everyone who knows the Ethereum people, knows this problem.

I think ultimately we have to say "Skycoin is not about the price" and the distribution is probably irrelevant also. I think Bitcoin failed, as a crypto-currency as soon as the community measured its success and failure based upon what the price is every five minutes. People forgot why Bitcoin exists and what it was a response to and then it just became a number that went up and down and became like horse racing or fantasy football, with no real impact on the world. It simply became irreverent.

We should not let the community get dragged down into discussion of the price/distribution and should focus on the project objectives and what we are trying to accomplish and how we are going to get it done.

I love you dev <3
I trust that what you do will be right. You are focused on the long-term over the short-term.
Distribution is still important to the coin regardless; however, good work will maintain good prices.
NXT had horrendous distribution but they also happened to have a great team. This distribution is still better than NXT as you intend on increasing investor wealth - we just need to wait for all the cogs to go into place.

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April 17, 2017, 04:24:26 PM
 #2731

distributing the coin by paying the developer the coin make for a quality product.  If you was a coder working you want to deliver the best product before the release of the new update.. many dev's once receive the funds have nothing at stake many project develop very slowly and do not care at the end of the week..


>many dev's once receive the funds have nothing at stake many project develop very slowly and do not care at the end of the week..

Ethereum did not have vesting. After the coin was listed and popped, their whole development team quit and went on vacation and spent all their time shopping for condos, women and sports cars.

We have at least a two year vesting and shared secret/multisig for all the Skycoin developers and are holding back enough coins that they will be comfortable but that 90% of our staff wont quit.

We also lost a third of of the Skycoin development staff from the Ethereum ICO, because they are too rich to work. And the early Bitcoin people who have been helping us, are just traveling and vacationing for the last six years and they are dead beats, who talk about the things they are going to do but do not carry through.

We have first world problems.

Another reason we kept the coin supply thin and did smaller incremental ICOs, is because if you do a 30 million dollar Ethereum style crowd sale, then do 30% to dev team, then coin price goes up 50x, then you will lose all of your staff. We did mixture of Skycoin and Bitcoin disbursements from future distributions at higher prices, to keep the dev team on, with Skycoin compensation that is enough to buy three houses if coin goes up 20x to 50x from the first round ICO. We are already up 5x.

We have to constantly bring on new developers and recruit outside of the Bitcoin space, because there are not enough experienced people. They have not even lived through seeing three waves of life destroying new wealth from buying $20,000 in some altcoin that ends up popping 500x.

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April 17, 2017, 04:38:44 PM
 #2732

Such a good coin, comparable to maidsafe etc. But... this distribution confusion kinda takes away from everything.
...

I love you dev <3
I trust that what you do will be right. You are focused on the long-term over the short-term.
Distribution is still important to the coin regardless; however, good work will maintain good prices.
NXT had horrendous distribution but they also happened to have a great team. This distribution is still better than NXT as you intend on increasing investor wealth - we just need to wait for all the cogs to go into place.

Yes. One of the problems with NXT was
- total ICO was only 10 BTC
- they distributed all the coins from that 10 BTC
- they shut off ICO early, to stop other people from buying it
- 3 people (the NXT insiders owned ALL of the coins, but could say it was "fair" and no one complained)
- each of the three people, owned about 30% of the total each

Then 1 of the 3, wanted out and started fighting with the other two people. Then he started selling off his coins, a little each day. NXT went from 150 million to, being destroyed. Otherwise, NXT would be where Ethereum is today. They were doing a lot of innovative projects.

Ripple had the same problem. With Jeb leaving and threatening to dump 30% of the coins, which would have destroyed the market cap.

That is why we are not splitting the Skycoin evenly among the developers and instead have a multi-sig, shared secret distribution pool with tranches.

If the user base has 5% of the coins and an insider starts dumping 30% of the coins, he can suppress the price for a decade. So in Skycoin, what will happen is the coins become inaccessible and are just never distributed, unless someone resets the blockchain and there is a fork, to continue the distribution.

Then when new coins are unlocked, they are in 1 million coin blocks (1% of total) and they are in sequential accounts.

The maximum number of coins, that are in the hot wallet at once, that can be stolen before distribution is 1% (although has actually been 1.4% for a minute once).

And the computers for unlocking the coin tranches are off line and then the private keys have to be generated and moved to online computer (although we really should just be generating a transaction for moving the coins, right now its easier to move the generated private key).

So there is very little probability, that the undistributed coins end up dumped on the market or stolen.

Then in the future, we will also time lock the addresses holding the undistributed coins. The outputs will be unspendable until a certain date, once we have a clear distribution schedule.

And if they are stolen, anyways, then we will probably hardfork and reset the blockchain, to prevent the thieves from benefiting from the theft. Or atleast release update to freeze the address that the majority of stolen coins ended up in.

skycoin
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April 17, 2017, 05:00:43 PM
 #2733

Why is the coin on an exchange and having ICO at the same time? Seems like a launch with no logistics.  Embarrassed

The ICO round is done for now. Skycoin has begun trading on the first exchange.

We had no idea. They listed it, less than twelve hours after the ICO finished.

We had a desired order of exchange, but it depends on mood of exchanges.

We wanted to add one exchange month, going from C2CX to Bitfinix to Kracken to Polonix. Synchronized to marketing and publication cycle.

However, some exchanges responded VERY quickly (listing within twelve hours) and some took longer or are non-responsive or we only have contact with them through a chain of three people. Bitfinix wants someone to do a face scan and submit DNA sample and TSA style extreme verification etc.. before will do listing, so we have to find someone who wants to go through KYC "extreme vetting".

Listing on cryptopia.co.nz was fast, but would have been four times faster if our API documentation has been better. We also had to fix a bug.

Our marketing material, video, info graphics, white papers, exchange listings will not be synchronized or coordinated. They will be released as they are ready, which will be at random times.

---

The next three targets are
- coinmarketcap.com
- livecoin.net
- bitfinix or bitrex


People should message them to get it listed.

skycoin
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April 17, 2017, 05:02:05 PM
 #2734

On a serious note. What is the current coin supply?

http://explorer.skycoin.net/api/coinSupply

toilet
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April 17, 2017, 06:17:35 PM
 #2735

check this out, skycoin was listed on coinmarket cap

http://coinmarketcap.com/currencies/skycoin/

i think they are still working it, as the marketcap isnt available at this time. but it looks like submitting forms to the website worked

great job team

host of shitcoin talk
statdude
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April 17, 2017, 08:12:16 PM
 #2736

what was the exact ICO price, in BTC?

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GTTIGER
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April 17, 2017, 08:25:36 PM
 #2737

check this out, skycoin was listed on coinmarket cap

http://coinmarketcap.com/currencies/skycoin/

i think they are still working it, as the marketcap isnt available at this time. but it looks like submitting forms to the website worked

great job team
This coin is fast. ICO on the exchange went perfectly. Less than a week and we are already on an exchange and coinmarketcap. This coin is going to mars.

jordan coins
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April 17, 2017, 08:42:41 PM
 #2738

Total Supply : 5,250,299 SKY
$0.799565

The price is high ؟؟؟ why  Embarrassed 
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April 17, 2017, 09:06:34 PM
 #2739

Total Supply : 5,250,299 SKY
$0.799565

The price is high ؟؟؟ why  Embarrassed 

This coin was just added to coinmarketcap.com... why only now considering it's such an old coin? Just had a new lease of life I guess  Huh

Anyway.. watching.

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April 17, 2017, 09:07:01 PM
 #2740

>many dev's once receive the funds have nothing at stake many project develop very slowly and do not care at the end of the week..

Ethereum did not have vesting. After the coin was listed and popped, their whole development team quit and went on vacation and spent all their time shopping for condos, women and sports cars.

We have at least a two year vesting and shared secret/multisig for all the Skycoin developers and are holding back enough coins that they will be comfortable but that 90% of our staff wont quit.

We also lost a third of of the Skycoin development staff from the Ethereum ICO, because they are too rich to work. And the early Bitcoin people who have been helping us, are just traveling and vacationing for the last six years and they are dead beats, who talk about the things they are going to do but do not carry through.

We have first world problems.


Money is dangerous. Humans can't overcome their nature and go insane once they get a sense of power. It's both sad and funny   Sad Cheesy
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