[SKY] Skycoin Launch Announcement

[allwelder]

count me in,plz
thanks.

[amytheplanarshift]

Would also like to test this.

[Lawyer]

Reserved for reference

[tk808]

SKYCOIN we need some updates! Get us excited again for your coin.


We are going on 2.5 months since the official, initial reveal of this ANN thread

[Lordoftherigs]

1.How is this coin going to be released ?
2.When will it be released ?

2.5 months have passed without any further indications.

At least there is some coverage on this coin http://cryptosource.org/introducing-skycoin/

[Alohaboy?!]

SKYCOIN we need some updates! Get us excited again for your coin.


We are going on 2.5 months since the official, initial reveal of this ANN thread

+1 damn right

[fatal1ty30]

count me in plz !!!

[garcias]

Count with me 

[BitShiva]

Count me in. This is exciting.

[comal]

looks interesting, when it will start?

[vtbean79]

Honestly, I'd rather have the dev team take as much time as they want and start this right than hurry and flop it like others did.  Go Skycoin!

[skycoin]

1.How is this coin going to be released ?
2.When will it be released ?

2.5 months have passed without any further indications.

At least there is some coverage on this coin http://cryptosource.org/introducing-skycoin/

1. The initial IPO will be 1% of the total Skycoin for 50 Bitcoins. This is a 2 million euro starting valuation @ 400 €/BTC. The IPO period will be announced five days before the IPO starts.
2. Then 0.1% (100 thousand) SKY will be sold per day at market price to fund development and marketing
3. Distribution will be over five years
4. The rate new coins entering the market will decrease over time
5. The rate of new coins entering the market will be less than the growth in new users

The Skycoin main and test net are running. We are doing unit tests and windows builds right now.

Changes to the source code are tracked here
https://github.com/skycoin/skycoin/commits/master

This is the top level API for the block chain parser
http://godoc.org/github.com/skycoin/skycoin/src/coin

This is the top level API for the Skycoin networking daemon
http://godoc.org/github.com/skycoin/skycoin/src/daemon

-- Todo --
1. Windows Builds
2. Obelisk white paper
3. Documentation for developers
4. Long term project plans
5. The alpha client uses a central server to produce and sign blocks until Obelisk is ready. This allows the coin to trade and be tested before Obelisk is completely implemented. The existing blockchain will roll over when Obelisk is ready.

[vtbean79]

1.How is this coin going to be released ?
2.When will it be released ?

2.5 months have passed without any further indications.

At least there is some coverage on this coin http://cryptosource.org/introducing-skycoin/

1. The intial IPO will be 1% of the total Skycoin (1 million) for 50 BTC. The IPO period will be announced five days before the IPO starts.
2. Then 0.1% (100 thousand) SKY will be sold per day at market price to fund development and marketing
3. Distribution will be over five years
4. The rate new coins entering the market will decrease over time
5. The rate of new coins entering the market will be less than the growth in new users

The Skycoin main and test net are running. We are doing unit tests and windows builds right now.

Changes to the source code are tracked here
https://github.com/skycoin/skycoin/commits/master

This is the top level API for the block chain parser
http://godoc.org/github.com/skycoin/skycoin/src/coin

This is the top level API for the Skycoin networking daemon
http://godoc.org/github.com/skycoin/skycoin/src/daemon

-- Todo --
1. Windows Builds
2. Obelisk white paper
3. Documentation for developers
4. Long term project plans
5. The alpha client is uses a central server to produce and sign blocks until Obelisk is ready. This allows the coin to trade and be tested before Obelisk is completely implemented. The existing blockchain will roll over when Obelisk is ready.

OH boy...  I mean ..  I believe in devs getting paid for their hard work.  I really do.  But 5000 BTC?  (50 BTCs/ 1 million coins).....  I hope this thread doesn't turn out to be Ethereum...  

Edit:  Of course, this is just my opinion.  I'd much prefer all coins distributed at once and let the market decide what the price should be.  Dev team can keep certain % of coins plus BTCs from IPO as their reward.  Coins serve as an incentive to keep working on the coin.  Just my 2 cents.  

Edit:  Putting a hardcap of 1 BTC per investor will ensure that coins will be evenly/widely distributed. 

[skycoin]

OH boy...  I mean ..  I believe in devs getting paid for their hard work.  I really do.  But 5000 BTC?  (50 BTCs/ 1 million coins).....  I hope this thread doesn't turn out to be Ethereum...  

>But 5000 BTC?  (50 BTCs/ 1 million coins).....  I hope this thread doesn't turn out to be Ethereum...  

5000 Bitcoin cost a dollar a few years ago.

We looked at a mastercoin style IPO. We feel that selling all the coins at once deters user growth. We want to replicate the successful distribution strategy of Litecoin and Bitcoin.  The price has to steadily appreciate, but has to be kept artificially low by releasing new coins over time, in order to create an incentive for new users.

Mastercoin is worth a hundred million dollars on paper, but it has no volume,  no liquidity and no users. We are trying to avoid that by spreading the distribution over a longer time period like Bitcoin and Litecoin did.

[vtbean79]

OH boy...  I mean ..  I believe in devs getting paid for their hard work.  I really do.  But 5000 BTC?  (50 BTCs/ 1 million coins).....  I hope this thread doesn't turn out to be Ethereum...  

>But 5000 BTC?  (50 BTCs/ 1 million coins).....  I hope this thread doesn't turn out to be Ethereum...  

5000 Bitcoin cost a dollar a few years ago.

We looked at a mastercoin style IPO. We feel that selling all the coins at once deters user growth. We want to replicate the successful distribution strategy of Litecoin and Bitcoin.  The price has to steadily appreciate, but has to be kept artificially low by releasing new coins over time, in order to create an incentive for new users.

Mastercoin is worth a hundred million dollars on paper, but it has no volume,  no liquidity and no users. We are trying to avoid that by spreading the distribution over a longer time period like Bitcoin and Litecoin did.

I can see that you're very confident about future prospect of skycoin.  And don't get me wrong I'm very excited about this coin.  However, everyone who invests in your coin is taking on a risk of this coin going down to zero value and there is certain uneasy feeling about investing in IPO with set price.  So not everyone may agree with you that 50 BTC/ 1 million coins is "artificially low" price.  If skycoin goes to BTC price in few years, I guess all these doesn't really matter.  We'll all be millionaires.      BTW, in TODAY's price, 5000 BTC is worth about 3.3 million dollars.   

[northranger79510]

OH boy...  I mean ..  I believe in devs getting paid for their hard work.  I really do.  But 5000 BTC?  (50 BTCs/ 1 million coins).....  I hope this thread doesn't turn out to be Ethereum...  

>But 5000 BTC?  (50 BTCs/ 1 million coins).....  I hope this thread doesn't turn out to be Ethereum...  

5000 Bitcoin cost a dollar a few years ago.

We looked at a mastercoin style IPO. We feel that selling all the coins at once deters user growth. We want to replicate the successful distribution strategy of Litecoin and Bitcoin.  The price has to steadily appreciate, but has to be kept artificially low by releasing new coins over time, in order to create an incentive for new users.

Mastercoin is worth a hundred million dollars on paper, but it has no volume,  no liquidity and no users. We are trying to avoid that by spreading the distribution over a longer time period like Bitcoin and Litecoin did.

I can see that you're very confident about future prospect of skycoin.  And don't get me wrong I'm very excited about this coin.  However, everyone who invests in your coin is taking on a risk of this coin going down to zero value and there is certain uneasy feeling about investing in IPO with set price.  So not everyone may agree with you that 50 BTC/ 1 million coins is "artificially low" price.  If skycoin goes to BTC price in few years, I guess all these doesn't really matter.  We'll all be millionaires.      BTW, in TODAY's price, 5000 BTC is worth about 3.3 million dollars.   

Exactly, creating an Ethereum-style IPO will be the death of this coin, no matter how great it is or the potential it will become.

[Calhil]

I can see that you're very confident about future prospect of skycoin.  And don't get me wrong I'm very excited about this coin.  However, everyone who invests in your coin is taking on a risk of this coin going down to zero value and there is certain uneasy feeling about investing in IPO with set price.  So not everyone may agree with you that 50 BTC/ 1 million coins is "artificially low" price.  If skycoin goes to BTC price in few years, I guess all these doesn't really matter.  We'll all be millionaires.      BTW, in TODAY's price, 5000 BTC is worth about 3.3 million dollars.    

Exactly, creating an Ethereum-style IPO will be the death of this coin, no matter how great it is or the potential it will become.

Everyone wants a piece of the pie. People are getting smarter and its harder and harder to earn money by just releasing another scrypt based clone. I like that developers are trying to add new features but asking for 2+M euro from the start and then periodically dumping coins on the exchanges seems a bit steep to me  
I think im just going to fork the code and release 100% of the coins for 50BTC. It sounds like a bargain to me ;]

[Brilliantrocket]

Investing in this is a huge risk. As it stands the reward is not commensurate to this risk.

[JessicaMILFson]

I can see that you're very confident about future prospect of skycoin.  And don't get me wrong I'm very excited about this coin.  However, everyone who invests in your coin is taking on a risk of this coin going down to zero value and there is certain uneasy feeling about investing in IPO with set price.  So not everyone may agree with you that 50 BTC/ 1 million coins is "artificially low" price.  If skycoin goes to BTC price in few years, I guess all these doesn't really matter.  We'll all be millionaires.      BTW, in TODAY's price, 5000 BTC is worth about 3.3 million dollars.    

Exactly, creating an Ethereum-style IPO will be the death of this coin, no matter how great it is or the potential it will become.

Everyone wants a piece of the pie. People are getting smarter and its harder and harder to earn money by just releasing another scrypt based clone. I like that developers are trying to add new features but asking for 2+M euro from the start and then periodically dumping coins on the exchanges seems a bit steep to me  
I think im just going to fork the code and release 100% of the coins for 50BTC. It sounds like a bargain to me ;]

For 50 BTC? How would you prevent a big whale from owning all of that pie? That will not get the coin distributed evenly to the masses.

[vtbean79]

I can see that you're very confident about future prospect of skycoin.  And don't get me wrong I'm very excited about this coin.  However, everyone who invests in your coin is taking on a risk of this coin going down to zero value and there is certain uneasy feeling about investing in IPO with set price.  So not everyone may agree with you that 50 BTC/ 1 million coins is "artificially low" price.  If skycoin goes to BTC price in few years, I guess all these doesn't really matter.  We'll all be millionaires.      BTW, in TODAY's price, 5000 BTC is worth about 3.3 million dollars.    

Exactly, creating an Ethereum-style IPO will be the death of this coin, no matter how great it is or the potential it will become.

Everyone wants a piece of the pie. People are getting smarter and its harder and harder to earn money by just releasing another scrypt based clone. I like that developers are trying to add new features but asking for 2+M euro from the start and then periodically dumping coins on the exchanges seems a bit steep to me  
I think im just going to fork the code and release 100% of the coins for 50BTC. It sounds like a bargain to me ;]

Skycoin is not asking for 5000 BTCs from the start.  It's 50 BTCs for 1 mill coins in IPO.  After that, he'll be "dumping" 100,000 coins per day into the exchanges.  I based my calculation of 5000 BTCs under the assumption that IPO price of 50 BTCs/1 mill coins holds (may even increase).  So after all the coins have been sold in exchanges, it will be more or less 5000 BTCs.  Just pointing this out so that people are not misinformed.  

As I expressed before, I am somewhat disappointed with Skycoin's decision to go with this type of IPO.  But I think I'll keep my eyes on this project.  It's one of the VERY FEW projects that are original and bring something new to the table.  We'll see how this turns out...