[SKY] Skycoin Launch Announcement

[JessicaMILFson]

I am back. How can I help you guys advance the project?

[GTTIGER]

Skycoin gets dumped bigtime. Skyrocketing 50-100x my ass.

weak hands always drop the ball 
The distribution information will be solidified and the coin will go to mars

[Momimaus]

Skycoin gets dumped bigtime. Skyrocketing 50-100x my ass.

weak hands always drop the ball 
The distribution information will be solidified and the coin will go to mars

Of course, skycoin said it so. It has to happen. lol

[BTCspace]

anyway the distribution model is not that good now.

[xtester]

We have just created the Skycoin slack group, feel free to join: http://skycoin.herokuapp.com/

[alababaju]

5 million coins and a marketcap of $7.5M ?
But...100M coins total.  So total market cap on current price will be $150M

Seems expensive

These kind of noobs are going to be the endless problem for this coin..

Hello Relaxedsense, care to explain how? Thanks.

[GTTIGER]

buy sky while it is cheap. one announcement and you wont have an enter chance. 

[Caesar V]

Gnosis had ico just now and devs are holding 95% like skycoin, everyone is already calling it a scam on reddit, telegram and slack. Let's see what happens when it goes live on kraken.

[Sam123]

buy sky while it is cheap. one announcement and you wont have an enter chance. 

The price still above ICO. Correct?

[mamamae]

yeah is 2 X  BTC price right now
ico was 2500 sky / BTC when 10 cent for skycoin was ok

[BTCspace]

maybe we should vote for no more ico?

or just burn somecoin?

also what's the usecase for skycoin？

we need create some real usecase for skycoin. not only for buy and sell?

[elelegzet]

also what's the usecase for skycoin？

we need create some real usecase for skycoin. not only for buy and sell?

 Just read the whitepaper . Skycoin is technically awesome but distribution and marketing isn't its strong side for the time being.

[skycoin]

Update:

We are doing misc quality control and major bug fixes now

---

We fixed a few bugs and path directory issues for the windows non-electron build. There was an error in the packaging script and assets were copied to the wrong path and the executable could not find the assets and server terminated on start.

This should be fixed wallet version 15.

---

We are hunting down and fixing a transaction prorogation issue, where a small number of TX hashes are not propagating to all nodes because of some race condition. We think it is fixed, but are still testing. We have implemented transaction rebroadcast, but disabled it by default because new state information flag for TX in unconfirmed pool should resolve the issue.

- a node will only broadcast a TX if it can be executed against the current set of unspent outputs
- if a new block is created, but a node receives a TX spending a UX output created in the next block, but the node has not received the new block yet, then the node will not announce the TX hash
- then when the new block is received, the state of the transaction becomes valid/executable but the UX object was not broadcast
- The node will ignore all future TX announces for that TX, without broadcasting the hash because the TX object is already in the unspent output set

This edge cases happens
- if TX spending UXTO object created in next block ,comes in before the block (happens to exchanges somtimes if doing transactions in rapid succession)
- if the node is just starting up after a few hours of being offline and receives a TX set, while still catching up on latest block set

To fix this edge case we
- ensure that nodes now announce the hashes of their whole unspent TX set on connect (we thought this was implemented but it was not)
- persist transactions in the UXTO set by default (now enabled)
- added a manuel TX rebroadcast JSON and CLI function
- track transaction status with a boolean flag. If a TX object in the unspent output pool goes from unexecutable, to executable on the current unspent output set, then it will automatically trigger a broadcast for that TX

This should also fix the unrelated bug where
- a TX is injected and the node has zero peers
- the node connects to one or more peers but the TX object never propagates

This bug was resolved by
- key value store persistence of unspent TX pool by default between node restarts
- announce of all TX in the unspent output pool by default on connection between nodes

--- exponential backoff with zero peers bug

If the internet goes down, all the peers in peer list get blacklisted by the exponential backoff algorithm.

We are resetting exponential backoff time for peer connection attempts now, upon connections falling below 2.

This will speed up time for node to reconnect to network, after internet is down for a period.

--- Peer Exchange Bug

Peer exchange is now disabled again by default. Needs more testing. There is problem with handling of unsolicited connections and the loopback auto disconnect, to prevent two connections to the same node.

If a node has an open port, then it can attempt to connect out to a node. That same node can also attempt to open a connection in to the node, so we end up with two connections between the node and we have bug in the loop back auto detect connection, for unsolicited (incoming connections), that end up disconnecting both the incoming and outgoing connection between the node.

We think this is what is causing a bug where server with peer exchange enabled, is getting zero peers but are not sure.

Will fix this soon.

[skycoin]

anyway the distribution model is not that good now.

The distribution is mathematically optimal. You cannot design a better distribution scheme than the Skycoin scheme. We enumerated all previous distribution schemes and chose the best one.

You are used to seeing pump and dump style distributions and that is what people are asking for and we will not do it. We are also not going to do some NXT style scam and pretend the coin was "distributed" in a way that the user base cannot complain, when in reality three people own 98% of the coins. The undistributed Skycoins are locked, for a reason and that is to prevent a reoccurance of the dumping that destroyed NXT.

We combined a publicly auditable distribution scheme with with a Bitcoin tapered distribution schedule, while eliminating the capital outflows from miners. We chose this distribution scheme, because mathematically it is the best possible that can exist.

Until someone proposes something superior to "I think they should do a massive coin drop on me and give me free coins", the "distribution" complaints are just divide and conquer, meaningless babble and foaming at the mouth.

The Skycoin distribution will follow the Bitcoin model of a constant number of coins over a time period, with tapering and halving over time, up to a fixed maximum value.

Distribution will take at least seven years. We are in a hurry and some of us have already been here four or five years. I think we will get to 70% distribution within ten years. Rushing distribution, only hurts the investors, so we are in no hurry to dump coins faster. If anything we will probably decrease the rate of releasing new blocks of coins.

This is to create  a slow, steady appreciation of the coin and reason for people to hold on to it. Instead of a massive Ethereum style pump and dump (which worked for Ethereum, but which is a very bad type of distribution style in general).

We think our distribution scheme is the best possible. No one has given any superior alternative, or even a proposal that would not drive down the price per coin. Skycoin's distribution scheme is designed to maximumize the price per coin over time and to avoid driving own the price per coin.

This is what makes sense for funding a large, long term project whose value is increasing. We are using this model, because it works.

If we can raise $1 and invest it in marketing, software development and hardware and produce a $100 increase in market cap, then we are doing well. If we are only producing $0.25 in value for every dollar spent, then we should stop raising money and cut distribution back. We do not want to crowd out our return rate.

[skycoin]

5 million coins and a marketcap of $7.5M ?
But...100M coins total.  So total market cap on current price will be $150M

Seems expensive

Many people thought Bitcoin was expensive at a dollar.

[myhoho]

 Thank for the comment on distribution. Seems reasonable to me .

[Momimaus]

anyway the distribution model is not that good now.

The distribution is mathematically optimal. You cannot design a better distribution scheme than the Skycoin scheme. We enumerated all previous distribution schemes and chose the best one.

You are used to seeing pump and dump style distributions and that is what people are asking for and we will not do it. We are also not going to do some NXT style scam and pretend the coin was "distributed" in a way that the user base cannot complain, when in reality three people own 98% of the coins. The undistributed Skycoins are locked, for a reason and that is to prevent a reoccurance of the dumping that destroyed NXT.

We combined a publicly auditable distribution scheme with with a Bitcoin tapered distribution schedule, while eliminating the capital outflows from miners. We chose this distribution scheme, because mathematically it is the best possible that can exist.

Until someone proposes something superior to "I think they should do a massive coin drop on me and give me free coins", the "distribution" complaints are just divide and conquer, meaningless babble and foaming at the mouth.

The Skycoin distribution will follow the Bitcoin model of a constant number of coins over a time period, with tapering and halving over time, up to a fixed maximum value.

Distribution will take at least seven years. We are in a hurry and some of us have already been here four or five years. I think we will get to 70% distribution within ten years. Rushing distribution, only hurts the investors, so we are in no hurry to dump coins faster. If anything we will probably decrease the rate of releasing new blocks of coins.

This is to create  a slow, steady appreciation of the coin and reason for people to hold on to it. Instead of a massive Ethereum style pump and dump (which worked for Ethereum, but which is a very bad type of distribution style in general).

We think our distribution scheme is the best possible. No one has given any superior alternative, or even a proposal that would not drive down the price per coin. Skycoin's distribution scheme is designed to maximumize the price per coin over time and to avoid driving own the price per coin.

The Skycoin distribution schedule and philosophy is identical to Bitcoin's distribution rate, or how Facebook or Google stock was distributed. Google did not distribute 80% of its shares by doing a massive Ethereum style crowd sale, before any of the work was done. It sold off fixed, small slices of equity at each step at an increasing price. Then they dumped the money into development and increasing the value of the equity for all stakeholders by investing the money raised in infrastructure.

This is what makes sense for funding a large, long term project whose value is increasing. We are using this model, because it works.

If we can raise $1 and invest it in marketing, software development and hardware and produce a $100 increase in market cap, then we are doing well. If we are only producing $0.25 in value for every dollar spent, then we should stop raising money and cut distribution back. We do not want to crowd out our return rate.

Proposing 50-100 fold and calling Ethereum a pump and dump is the most ridiculous thing I ever heard in crypto. Please stop talking this bullshit. You lost a lot of your reputation with this.

I have no problem with the distribution scheme. It is ripple style and lots of people hate it, but it looks like that it works if the devs deliver.

[BTCspace]

anyway the distribution model is not that good now.

The distribution is mathematically optimal. You cannot design a better distribution scheme than the Skycoin scheme. We enumerated all previous distribution schemes and chose the best one.

You are used to seeing pump and dump style distributions and that is what people are asking for and we will not do it. We are also not going to do some NXT style scam and pretend the coin was "distributed" in a way that the user base cannot complain, when in reality three people own 98% of the coins. The undistributed Skycoins are locked, for a reason and that is to prevent a reoccurance of the dumping that destroyed NXT.

We combined a publicly auditable distribution scheme with with a Bitcoin tapered distribution schedule, while eliminating the capital outflows from miners. We chose this distribution scheme, because mathematically it is the best possible that can exist.

Until someone proposes something superior to "I think they should do a massive coin drop on me and give me free coins", the "distribution" complaints are just divide and conquer, meaningless babble and foaming at the mouth.

The Skycoin distribution will follow the Bitcoin model of a constant number of coins over a time period, with tapering and halving over time, up to a fixed maximum value.

Distribution will take at least seven years. We are in a hurry and some of us have already been here four or five years. I think we will get to 70% distribution within ten years. Rushing distribution, only hurts the investors, so we are in no hurry to dump coins faster. If anything we will probably decrease the rate of releasing new blocks of coins.

This is to create  a slow, steady appreciation of the coin and reason for people to hold on to it. Instead of a massive Ethereum style pump and dump (which worked for Ethereum, but which is a very bad type of distribution style in general).

We think our distribution scheme is the best possible. No one has given any superior alternative, or even a proposal that would not drive down the price per coin. Skycoin's distribution scheme is designed to maximumize the price per coin over time and to avoid driving own the price per coin.

The Skycoin distribution schedule and philosophy is identical to Bitcoin's distribution rate, or how Facebook or Google stock was distributed. Google did not distribute 80% of its shares by doing a massive Ethereum style crowd sale, before any of the work was done. It sold off fixed, small slices of equity at each step at an increasing price. Then they dumped the money into development and increasing the value of the equity for all stakeholders by investing the money raised in infrastructure.

This is what makes sense for funding a large, long term project whose value is increasing. We are using this model, because it works.

If we can raise $1 and invest it in marketing, software development and hardware and produce a $100 increase in market cap, then we are doing well. If we are only producing $0.25 in value for every dollar spent, then we should stop raising money and cut distribution back. We do not want to crowd out our return rate.

maybe check the byteball distribution?

[ICOcountdown.com]

anyway the distribution model is not that good now.

The distribution is mathematically optimal. You cannot design a better distribution scheme than the Skycoin scheme. We enumerated all previous distribution schemes and chose the best one.

You are used to seeing pump and dump style distributions and that is what people are asking for and we will not do it. We are also not going to do some NXT style scam and pretend the coin was "distributed" in a way that the user base cannot complain, when in reality three people own 98% of the coins. The undistributed Skycoins are locked, for a reason and that is to prevent a reoccurance of the dumping that destroyed NXT.

We combined a publicly auditable distribution scheme with with a Bitcoin tapered distribution schedule, while eliminating the capital outflows from miners. We chose this distribution scheme, because mathematically it is the best possible that can exist.

Until someone proposes something superior to "I think they should do a massive coin drop on me and give me free coins", the "distribution" complaints are just divide and conquer, meaningless babble and foaming at the mouth.

The Skycoin distribution will follow the Bitcoin model of a constant number of coins over a time period, with tapering and halving over time, up to a fixed maximum value.

Distribution will take at least seven years. We are in a hurry and some of us have already been here four or five years. I think we will get to 70% distribution within ten years. Rushing distribution, only hurts the investors, so we are in no hurry to dump coins faster. If anything we will probably decrease the rate of releasing new blocks of coins.

This is to create  a slow, steady appreciation of the coin and reason for people to hold on to it. Instead of a massive Ethereum style pump and dump (which worked for Ethereum, but which is a very bad type of distribution style in general).

We think our distribution scheme is the best possible. No one has given any superior alternative, or even a proposal that would not drive down the price per coin. Skycoin's distribution scheme is designed to maximumize the price per coin over time and to avoid driving own the price per coin.

The Skycoin distribution schedule and philosophy is identical to Bitcoin's distribution rate, or how Facebook or Google stock was distributed. Google did not distribute 80% of its shares by doing a massive Ethereum style crowd sale, before any of the work was done. It sold off fixed, small slices of equity at each step at an increasing price. Then they dumped the money into development and increasing the value of the equity for all stakeholders by investing the money raised in infrastructure.

This is what makes sense for funding a large, long term project whose value is increasing. We are using this model, because it works.

If we can raise $1 and invest it in marketing, software development and hardware and produce a $100 increase in market cap, then we are doing well. If we are only producing $0.25 in value for every dollar spent, then we should stop raising money and cut distribution back. We do not want to crowd out our return rate.

maybe check the byteball distribution?

The byteball distribution was a free airdrop.

[onemanatatime]

Where can we get some skycoin? I saw that it was open for "redemption" on some chinese website, but saw it was a ridiculous price for only a small supply of the total tokens available. Can you give more info on how to get SKY?