[SKY] Skycoin Launch Announcement

[DanielVG]

count me in 

[gu7008]

I was enthused about this project when first reading it, in the same way I was enthused about Ripple + opencoin. That is Fuggers original vision of ripple and Opencoin. not the butchered, centralised and confusingly named Ripple by Opencoin INC imposters. but it seems to be butchered too

not particularly concerned about initial IPO for 1% stake, rather the distribution mechanism for the remainder. This is incredibly vague, vague is an understatement actually.

How exactly is this supposed to work, can developers shine a light here? Central entity controls 99% of the total monetary supply and will just drop 0.1% at say 00:00 UTC on a centralised exchange according to the latest market price? So let's just go with the assumption that this anonymous cartel behind skycoin are trusted to act in best interests of the project and will fairly distribute rest as promised.

even there why wouldn't any group snap down the bids and pull their asks right before release to guarantee them a more sexy price? who controls the market price,  you can answer 'free market' but manipulation will be rampant

I don't understand why such a promising project has gone with this approach

It's indeed a dilema every non-PoW coin faces, the NXT-style of distribution is widely considered as horrible, and became a big obstacle of the coin's acception.
This issue needs to be carefully dealed with a brillant plan. I hope dev would clarify about the mechanism of distribution of the rest 99% coins.

[SyRenity]

It's indeed a dilema every non-PoW coin faces, the NXT-style of distribution is widely considered as horrible, and became a big obstacle of the coin's acception.
This issue needs a brillant plan to be carefully dealed with. I hope dev would clarify about the mechanism of distribution of the rest 99% coins.

+1, even now, almost 5 months after IPO, there are multiple accounts holding millions of NXT, which makes many worry about their ability to crash market price anytime.

[pozmu]

Put together a SkyCoin "coin" logo for fun (thoughts):



*includes a bit of a Russian doll gag for those who know how the bitcoin protocol works.

Wow, very nice

[tornstaf]

NXT is a huge fail in my eyes, with many accounts have huge amounts of NXT that could easily cash in w/e they want..it's stupid.

I believe that say, 50 Skycoin should be handed to an average of 500-1000 people every 3 weeks or so. Until the developers feel that enough Skycoin has been sent out to generate market growth. Then the rest of the Skycoin could be Sold on the exchanges, and they're only limited to one account per day, so ewqdwqfq432141d buys 500 skycoin for $30 on the exchange, but won't be able to do so again for another full day.

Then again after enough skycoin has been sold via exchanges and after the developers feel there's enough in circulation to continue to promote growth then they should stop for a bit, and let the skycoin community progress.

I believe they should sell skycoin via the exchanges for Higher, and higher prices, so $30 the first time for 500, then $70 the second time for 500 etc etc. That would make the skycoin price Go upwards with almost no deflation.

Makes sense, you guys should try it(Please don't go the way NXT did btw, with selling and giving Millions of coins to users, it destroyed their economy, possible permanently...Plus it's very very unrealisitc what they did with concerns to a real life economy, which I'm hoping virtual currency such as Skycoin could match and even rival.)

Btw I'm not saying the the developers etc.can't be trusted, but I think a program should be made to put the coins on the exhanges, so it truly becomes decentrilized. That would work wonderfully.

[tacotime]

Sorry to accidentally spam the CHAN on BM with the MC2 newsletter, didn't mean to and am still getting used to how it works.  Looking forward to the launch of this one!

[tornstaf]

If skycoin works out right etc, the developers and whoever else will get verrry rich. If you think about it. If skycoin is indeed fair then the developer and their team deaerve the money they make..sort of like how satoshi komato deserves tl be a billionaire for creating bitcoin...

[Korean]

You can say that for any coin

[41136169]

count me in

[allwelder]

Interested,  plz count me in.
Our community is focused on innovate crypto,and I have left an special area on the mainpage with updated info.
http://www.nxts.info/forum.php?mod=forumdisplay&fid=68

[TheMightyX]

If skycoin works out right etc, the developers and whoever else will get verrry rich. If you think about it. If skycoin is indeed fair then the developer and their team deaerve the money they make..sort of like how satoshi komato deserves tl be a billionaire for creating bitcoin...

But does he?
If he didn't create it, someone else would have created something similar. Bitcoin was not the first concept of cryptocurrency.
Just like if Thomas Edison didn't invent the lightbulb (he didn't, but thats another story) we would all be sitting around in the dark?
I believe we should all be rewarded for our achievements, but there should be some relation of your effort/work to your reward.
By allowing the developers to sell every single coin you are essentially saying its all right to premine 100% of a coin and sell them all for your own personal gain.

Every single coin that ever exist will have been bought from the developer.
Every single dollar that goes into this coin, will be 1 dollar into the developers pocket.
Does this seem fair?

[paulmaritz]

If skycoin works out right etc, the developers and whoever else will get verrry rich. If you think about it. If skycoin is indeed fair then the developer and their team deaerve the money they make..sort of like how satoshi komato deserves tl be a billionaire for creating bitcoin...

But does he?
If he didn't create it, someone else would have created something similar. Bitcoin was not the first concept of cryptocurrency.
Just like if Thomas Edison didn't invent the lightbulb (he didn't, but thats another story) we would all be sitting around in the dark?
I believe we should all be rewarded for our achievements, but there should be some relation of your effort/work to your reward.
By allowing the developers to sell every single coin you are essentially saying its all right to premine 100% of a coin and sell them all for your own personal gain.

Every single coin that ever exist will have been bought from the developer.
Every single dollar that goes into this coin, will be 1 dollar into the developers pocket.
Does this seem fair?

It will certainly be interesting to see how they go about it.

[superresistant]

fucking quote

fucking quote

fucking quote

fucking quote

fucking quote

and fucking quote

Please stop quoting yourself and write in bold OR WE CAN ALL START TO CAPS LOCK LIKE THIS.
You may have some good points but please calm down first, talk clearly & concisely and we will have a human-conversation.


What I like about skycoin-guy so far is that he seems to know what he wants and have communication skills & basic marketing understanding.

[vtbean79]

By assigning himself to be the distributor of all coins, he's taking on the role of Federal Reserve.  Controlling money supply... manipulating price... sounds familiar?  I don't understand why people think NXT's distribution model is horrible.  The way NXT did it was horrible, yes.  But the concept is not.  Put a hardcap of 1 BTC per investor and I think you'll get a pretty nice even distribution.  Also, I think biggest reason NxT IPO was a failure is that it was ended too early without a lot of investors knowing about it.  If given enough time, many people will join Skycoin IPO.

Edit.  The reason why I like Nxt style IPO is that it's free market approach.  Initial coin price is dictated by IPO demand.  And after IPO, coin price will fluctuate depending on simple Supply/Demand.  I just think this is better than Dev team artificially coming up with a set price for coins that hasn't even seen a light of day.  It's extremely difficult to predict the market and thus come up with accurate price of a coin before IPO IMHO. 

[nightengale]

We are in a launch announcement thread... but is there ever going to be a launch announcement?

[suky321]

We are in a launch announcement thread... but is there ever going to be a launch announcement?

+1

The thread should be renamed pre-launch or something similar. With dates on when the announcement will be made.

[FrictionlessCoin]

By assigning himself to be the distributor of all coins, he's taking on the role of Federal Reserve.  Controlling money supply... manipulating price... sounds familiar?  I don't understand why people think NXT's distribution model is horrible.  The way NXT did it was horrible, yes.  But the concept is not.  Put a hardcap of 1 BTC per investor and I think you'll get a pretty nice even distribution.  Also, I think biggest reason NxT IPO was a failure is that it was ended too early without a lot of investors knowing about it.  If given enough time, many people will join Skycoin IPO.

Edit.  The reason why I like Nxt style IPO is that it's free market approach.  Initial coin price is dictated by IPO demand.  And after IPO, coin price will fluctuate depending on simple Supply/Demand.  I just think this is better than Dev team artificially coming up with a set price for coins that hasn't even seen a light of day.  It's extremely difficult to predict the market and thus come up with accurate price of a coin before IPO IMHO. 

73 people new about Nxt IPO and they abruptly shut it down quickly without advance notice.

If you actually look at the distribution, about 9 people own a majority of all Nxt. 

We've also heard a lot of complaints about Quark that had most of its mining for about 6 months.   By comparison, Quark was a much fairer distribution than Nxt.   

Anyway,  distribution is always going to be tricky.   The best distribution however is one that distributes the coin first to stake holders that will make a bit contribution to the code base.   Kind of like most successful companies,  you don't want to give a lot of equity people who don't contribute.   We haven't figured this one out yet though!

[instacalm]

73 people new about Nxt IPO and they abruptly shut it down quickly without advance notice.

If you actually look at the distribution, about 9 people own a majority of all Nxt.  

We've also heard a lot of complaints about Quark that had most of its mining for about 6 months.   By comparison, Quark was a much fairer distribution than Nxt.  

Debunking Friction's funny lie: http://www.nxtcrypto.org/nxtcoin/nxt-distribution-infographic

[FrictionlessCoin]

73 people new about Nxt IPO and they abruptly shut it down quickly without advance notice.

If you actually look at the distribution, about 9 people own a majority of all Nxt.  

We've also heard a lot of complaints about Quark that had most of its mining for about 6 months.   By comparison, Quark was a much fairer distribution than Nxt.  

Debunking Friction's funny lie: http://www.nxtcrypto.org/nxtcoin/nxt-distribution-infographic

Dude... did you read the infographic you just posted?

0.07% of Nxt users own 29%
0.14% of Nxt users own 21%
0.55% of Nxt users own 25%
----------------------------
0.76 % of Nxt users own 75% of Nxt
99.76% of Nxt users own 21% of Nxt.

Numbers don't lie!!

[instacalm]

Numbers don't lie!!

You said 9 people own a majority of all Nxt which is a lie confirmed by the numbers.

What's up with your brain? ps. this thread is about Skycoin and not your frustration with Nxt distribution.