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Author Topic: [SKY] Skycoin Launch Announcement  (Read 379695 times)
ICOcountdown.com
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August 09, 2017, 03:11:58 AM
 #3161



Half the research people have PHDs and you are telling people they are $5/hour people hired on Fiver, etc
- https://github.com/skycoin/cx

My head is going to explode.

Is this verifiable?

How is the ICO funds allocated and recorded?

What account is the ICO 1million coins being released from?

Thanks

They are being released from the non supply. Meaning current supply increases.

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August 09, 2017, 03:40:41 AM
 #3162



Half the research people have PHDs and you are telling people they are $5/hour people hired on Fiver, etc
- https://github.com/skycoin/cx

My head is going to explode.

Is this verifiable?

How is the ICO funds allocated and recorded?

What account is the ICO 1million coins being released from?

Thanks

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

Look at the API documentation on explorer.skycoin.net

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August 09, 2017, 03:53:01 AM
Last edit: August 09, 2017, 05:16:58 AM by skycoin
 #3163

I don't get this ICO.
Only just a little over 5% of this coin is circulating - the rest of the premine is held by skycoin.
This is creating an artificially high price.
1 skycoin = 0.0012 on cryptopia right now.
Yet the ICO price is 0.002!!!

Good luck with that.

There is no credibility here.


Thats what i questioned in the telegram..

Blocked for my efforts.

This project is great reading if you go all through the forum but complete fiction in reality.

The telegram started to fill with fake users and sockpuppets always same first post "Should i buy skycoin now?"

Same answer from the five active members there, "yes buy before the ICO before it moons."

The outstanding 96% of coins their answer is just to trust the anonymous dev.

With the .002 price they are requesting it places skycoin at over $600,000,000 in market cap and that is BS.

I know of no decent tech released yet?

I ask for a show of the products created by their 20+ PHD devs..

they say over 40 devs so half of that is 20 devs with PHDs, really??

The skycoin forum admin here is posted under many different people so you never know who is behind the post.

Same as the telegram the synth username is multiple people posting in that name.

Just ask these questions there...

blocked..

First, you go to

github.com/skycoin

You can see the Skycoin repos. The main "skycoin/skycoin" repo is the one with the least activity

github.com/skycoin <-- look at the repos

- github.com/skycoin/skycoin-cipher-web is our web wallet prototype
- github.com/skycoin/skycoin is the main coin
- github.com/skycoin/net is the sky-messager and is like TOX. This allows you to message people by public key.
- github.com/skycoin/bbs is distributed social media prototype. Similar to Reddit, 4chan or Steemit but built on top of CXO
- github.com/skycoin/cxo is a next generation IPFS.
- github.com/skycoin/skywire is our mesh net/darknet implementation and is similar to MPLS and OpenFlow. This is how users will receive coins for hosting CXO content. We do not think "proof of storage" is viable or will win out in the long term, so took a different approach.
- github.com/skycoin/teller is a service for bitcoin deposits/withdrawals and for OTC bot
- github.com/skycoin/skycoin-exchange is the skycoin distributed/federated exchange prototype
- github.com/skycoin/cx is our programming language and has genetic algorithm demo
- github.com/skycoinn/viscript is a cloud computing and application launching environment for our skycoin hardware and clusters
- github.com/skycoin/blog is our Hugo blog
- github.com/skycoin/skycoin-explorer is the skycoin blockchain explorer
- github.com/skycoin/devops is the devops and docker deployment/testing scripts

Also, our mobile wallet for Android/iOS was finished last week, but the repo has not been moved to the org yet.

Then there is another repo that has not been added to the org, with a complete rewrite of the wallet from scratch.

There is a whole telegram chat room with 40 people in it, just for testing the BBS application.

---

So when you lie say that "Nothing was down in five years". All the developers want to stab you and they are going to kick you from the channel. We do not even time to answer bullshit like this.

You cannot make up lies and spread them in the official skycoin channels.
- you cannot come into the channel and make up stories about how some lead dev was hired on Fiver for $5/hour... and just make shit up.
- you also waste a lot of time in the channel because you make things up and then say the developers said them, when they said exactly the opposite thing. Then six people waste time correcting you. And it causes massive confusion.
- You are negative. Everyone is focused on the project and is getting things done everyday and does not want to read people coming in and telling them that "nothing was done in five years" and that they were hired on Fiver for $5/hour and other lies. The development speed is extremely fast and everything is getting done and all of the application run now. Everyone is working on the project because they are excited about what we are doing. If you want to be negative, you should go into the EOS telegram and be negative there.
- You are complaining about EVERYTHING. We can only focus on one or two things and we do not give a shit about any of the imaginary "problems" you keep bringing up. We have real, important, concrete problems and things to get done by the next milestone. We cannot spend 20 years fixing "problems" that no one cares about or that do not matter. We have to focus on the two or three things that are highest priority and will have the largest impact.

You suggested "Fixing the distribution" problem by dumping coins. WHEN EVERYTHING IN SKYCOIN WAS DESIGNED FROM THE START TO ABSOLUTELY PROHIBIT AND MAKE COIN DUMPING AS DIFFICULT AS POSSIBLE. Other people said "Why would the developers do something that would hurt the people who already bought the coin? This is stupid. They should never do this." and we said "We will NEVER DO THIS" and then you come in and complain that we are not destroying the equity of the people who already bought the coin.

Skycoin was always designed to be scarce. And our economic policy has always been the same. The rate of coin distribution, must be lower than the rate of usage and userbase growth. If there are 1000 users and distribution goes from 5% to 50%, then the coin to user ratio must decline as the distribution increases. We are not going to anything that will destroy the price per coin and we are not going to change our economic policy (which has not changed in five years), because one person is complaining. Expecially when the whole user community and developers unanimously think that coin drops are suicidal and retarded.

There is a huge difference between Skycoin and most of the recent hundred million dollar ICOs
- Skycoin has a blockchain (it is not an Ethereum token)
- Skycoin has developers (there is a development track record of half a decade)
- Skycoin has source code (The majority of the recent hundred million dollar ICOs are ERC20 tokens. The Skycoin product was built out before the ICO and it was not just a scam to do marketing and get people to hand over a hundred million dollars to serial scammers)
- Skycoin is focused on fundamental problems that need to be solved for "the next bitcoin". Not on marketing gimmicks and "turing complete smart contracts" and marketing bs that is not yet useful in the real world.

So we are in the middle of massive speculative bubble, where 95% of the recent coins are going to be wiped out or be irreverent next year. And you are attacking one of the only ~5 coins with an actual blockchain and developers.

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August 09, 2017, 04:10:33 AM
 #3164

https://www.skycoin.net/distribution/ Crowdfund has started - End date 12:00PM GMT August 31st 2017

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August 09, 2017, 05:08:39 AM
Last edit: August 09, 2017, 05:26:19 AM by skycoin
 #3165

>This project is great reading if you go all through the forum but complete fiction in reality.

I repeat:

www.github.com/skycoin

You can see the Skycoin repos. The main "skycoin/skycoin" repo is the one with the least activity

github.com/skycoin <-- look at the repos

- github.com/skycoin/skycoin-cipher-web is our web wallet prototype
- github.com/skycoin/skycoin is the main coin
- github.com/skycoin/net is the sky-messager and is like TOX. This allows you to message people by public key.
- github.com/skycoin/bbs is distributed social media prototype. Similar to Reddit, 4chan or Steemit but built on top of CXO
- github.com/skycoin/cxo is an a next generation IPFS.
- github.com/skycoin/skywire is our mesh net/darknet implementation and is similar to MPLS and OpenFlow. This is how users will receive coins for hosting CXO content. We do not think "proof of storage" is viable or will win out in the long term, so took a different approach.
- github.com/skycoin/teller is a service for bitcoin deposits/withdrawals and for OTC bot
- github.com/skycoin/skycoin-exchange is the skycoin distributed/federated exchange prototype
- github.com/skycoin/cx is our programming language and has genetic algorithm demo
- github.com/skycoinn/viscript is a cloud computing and application launching environment for our skycoin hardware and clusters
- github.com/skycoin/blog is our Hugo blog
- github.com/skycoin/skycoin-explorer is the skycoin blockchain explorer
- github.com/skycoin/devops is the devops and docker deployment/testing scripts

>This project is great reading if you go all through the forum but complete fiction in reality.

1> Go install gentoo
2> install the applications from source (they are open source on github)
3> Run them.
4> apologize (or just shut up)

EOS did not even have a blockchain when they raised a hundred million dollars (ERC20 token)

The biggest difference between Skycoin and most of the recent ICOs is that
- Skycoin has developers
- Skycoin has a blockchain
- Skycoin has source code

You can download and run all of the applications from Github. The reason they are not on the website yet, is because the applications are still in alpha and for developers only. They are rapidly being changed every week and are not stable yet. Also, we have so many applications and daemons that we had to write a separate application to package and deploy them and its still in development.

The ICO is for technical people and investors, who have researched and understand what we are doing, to be able to buy before everything is packaged/launched and it becomes public facing.

Just because you cannot use to github website (which is linked on the skycoin.net website and everywhere), does not mean the applications do not exist. They are right there.

>The telegram started to fill with fake users and sockpuppets always same first post "Should i buy skycoin now?"
> Same answer from the five active members there, "yes buy before the ICO before it moons."


They actually, tell people to buy at the bottom when it dips and tell them not to buy at bubble. The traders in the Skycoin community are pretty good. Everyone in the community so far is highly educated, intelligent and principled.

Its not the catcoin chatroom. You are just making up negative things that have no basis in reality. You are constantly lying or making things up.

>With the .002 price they are requesting it places skycoin at over $600,000,000 in market cap and that is BS.

No. You are lying again.

Coinmarketcap.com says the market cap is 23 million. You say it is 600 million.

https://coinmarketcap.com/currencies/skycoin/

You are not allowed to make up your own formula for computing market capitalization.

The market cap is computed by multiplying the price per coin times the free float. The current market cap is $22,971,697 (not 600 million)
- 5,833,030 SKY
- $3.94 USD / SKY
- 5,833,030 * 3.94 ~= 23 million

Your made up market cap is 30x higher than the actual market capitalization.

The 100 million coins is a hard maximum cap, but the coins do not "exist" yet and are not traded. Only the free float or tradable coins can count towards the market cap. Just like Bitcoin has a hard cap of 23 million coins, Skycoin has a hard cap of 100 million coins.

After we reach target distribution, the coin distribution rate will probably be software capped at 5% maximum per year. Meaning distribution will take a minimum of 15 to 20 years. Therefore the impact of the undistributed coins is minimum or irrelevant.

>I know of no decent tech released yet?

1> Go install gentoo
2> install the applications from source (they are open source on github)
3> Run them. (github.com/skycoin)
4> apologize

I ask for a show of the products created by their 20+ PHD devs..

Again
1> Go install gentoo
2> install the applications from source (they are open source on github)
3> Run them. (github.com/skycoin)
4> apologize

>I ask for a show of the products created by their 20+ PHD devs..
>they say over 40 devs so half of that is 20 devs with PHDs, really??


Again. You are lying and making up bullshit again.

Half the RESEARCH people. Look at their fucking github accounts, they are under their real names. Read the white papers.

>The skycoin forum admin here is posted under many different people so you never know who is behind the post.

Yes. No one checks this often either. Everyone is too busy building things.

blocked..

You were kicked, not blocked. And you were kicked for pissing off the developers.

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August 09, 2017, 05:28:24 AM
 #3166

https://www.skycoin.net/distribution/ Crowdfund has started - End date 12:00PM GMT August 31st 2017

Why is he starting this shit, 4 hours before the ICO?

He private messaged someone and said he was trying to cause panic selling. I think he is intentionally spamming FUD everywhere, to drive the price down.

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August 09, 2017, 05:33:09 AM
 #3167

I don't get this ICO.
Only just a little over 5% of this coin is circulating - the rest of the premine is held by skycoin.
This is creating an artificially high price.
1 skycoin = 0.0012 on cryptopia right now.
Yet the ICO price is 0.002!!!

Good luck with that.

There is no credibility here.


Thats what i questioned in the telegram..

Blocked for my efforts.

This project is great reading if you go all through the forum but complete fiction in reality.

The telegram started to fill with fake users and sockpuppets always same first post "Should i buy skycoin now?"

Same answer from the five active members there, "yes buy before the ICO before it moons."

The outstanding 96% of coins their answer is just to trust the anonymous dev.

With the .002 price they are requesting it places skycoin at over $600,000,000 in market cap and that is BS.

I know of no decent tech released yet?

I ask for a show of the products created by their 20+ PHD devs..

they say over 40 devs so half of that is 20 devs with PHDs, really??

The skycoin forum admin here is posted under many different people so you never know who is behind the post.

Same as the telegram the synth username is multiple people posting in that name.

Just ask these questions there...

blocked..

We think you are trying to drive the Skycoin price down and cause panic selling, by spamming every single board and chat room with FUD.

Four hours before the ICO started, you starting spamming Bitcoin talks and telegram and all the channels with a bunch of lies and bullshit.

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August 09, 2017, 05:38:22 AM
Last edit: August 09, 2017, 06:02:51 AM by skycoin
 #3168

Update:

Distribution event is live at
- https://event.skycoin.net

---

There was a bug , where send to many transaction were not working with the ICO backend. That bug is now fixed. We tested all the edge cases and deposits should be coming in smoothly now.

It is normally 10 to 15 minutes between the Bitcoin deposit and the Skycoin show up in your wallet.

---

If someone wants to make a skycoin web wallet, they should look at
- https://github.com/skycoin/skycoin-cipher-web

---

Within two weeks, if there is time, we may add ETH deposits to the distribution backend and may integrate a web-wallet for address generation. Not sure yet.

The distribution/ICO backend will also be powering our OTC bot and federated exchange backend. We will have something like shapeshift in the skycoin wallet eventually and it uses the same code as this ICO frontend.

---

A new skycoin wallet is being written from scratch in angular 4.0



This will fix the latency and UI instability issues with the previous wallet.

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August 09, 2017, 06:56:57 AM
 #3169

https://www.skycoin.net/distribution/ Crowdfund has started - End date 12:00PM GMT August 31st 2017

Why is he starting this shit, 4 hours before the ICO?

He private messaged someone and said he was trying to cause panic selling. I think he is intentionally spamming FUD everywhere, to drive the price down.

WOW that is concerning...

As it is a direct lie .

Who is this someone?

What was the message?

I could buy your arguments above until i got to here.

Thats a direct lie from the main dev account.

Thats all i need to be out of here

you cannot have it both ways... A post above says i have been arguing daily for months and now you say i plan it on the ICO??

This is not an Initial anything this is one of your continuing coin offerings.

Also there are 100,000,000 coins available direct from genesis.

They are held in 100 separate accounts, do not lie and say they do not exist yet.


http://heatledger.com LIVE ICO 3.0 GENERATION CRYPTO WITH COMPANY STOCK IPO OPTIONS
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August 09, 2017, 07:04:11 AM
 #3170

I don't get this ICO.
Only just a little over 5% of this coin is circulating - the rest of the premine is held by skycoin.
This is creating an artificially high price.
1 skycoin = 0.0012 on cryptopia right now.
Yet the ICO price is 0.002!!!

Good luck with that.

There is no credibility here.


Thats what i questioned in the telegram..

Blocked for my efforts.

This project is great reading if you go all through the forum but complete fiction in reality.

The telegram started to fill with fake users and sockpuppets always same first post "Should i buy skycoin now?"

Same answer from the five active members there, "yes buy before the ICO before it moons."

The outstanding 96% of coins their answer is just to trust the anonymous dev.

With the .002 price they are requesting it places skycoin at over $600,000,000 in market cap and that is BS.

I know of no decent tech released yet?

I ask for a show of the products created by their 20+ PHD devs..

they say over 40 devs so half of that is 20 devs with PHDs, really??

The skycoin forum admin here is posted under many different people so you never know who is behind the post.

Same as the telegram the synth username is multiple people posting in that name.

Just ask these questions there...

blocked..

We think you are trying to drive the Skycoin price down and cause panic selling, by spamming every single board and chat room with FUD.

Four hours before the ICO started, you starting spamming Bitcoin talks and telegram and all the channels with a bunch of lies and bullshit.

What every board and chat room, you mean just here and in the telegram?

I was talking about the ICO price and the transparency issue i had with this ICO and skycoin platform and staff.

Then i was blocked there and so i posted here.

Now i see you will publicly lie as above..

I know this has a future that is rocky to say the least.

If the price goes down alot form here. It is not from FUD it is becasue i was right.

With the blocking and lieing i am next sure you will jack the cryptopia price with your new ICO money to PR the ICO.

But i would guess sub 0.008 in a few weeks.

The one lie above about PM to someone about FUD to drop price was what shocked me as you know that to be a lie and you know i know it. So of course i would out you here lieing.

http://heatledger.com LIVE ICO 3.0 GENERATION CRYPTO WITH COMPANY STOCK IPO OPTIONS
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August 09, 2017, 08:57:24 AM
 #3171

Just want to point out that coin distribution price is fine. It cannot be lower, otherwise, those who bought coins at 0.0016+ will lose money immediately. So 0.002 is ok for everyone who already bought SKY and it's very good that devs don't hurt existing coin holders and community(!). Would you be happy to buy now for 0.001 and after few month see new distribution at price of 0.000001? Probably not if you want to hold and not dump coins immediately at a higher price. So if someone wants to buy cheaper than 0.002, you have options to do so (and this is not "pump" advice, it's just reality). If you think that price will go lower and lower, just wait and buy later - that's very simple.
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August 09, 2017, 09:30:58 AM
 #3172

Just want to point out that coin distribution price is fine. It cannot be lower, otherwise, those who bought coins at 0.0016+ will lose money immediately. So 0.002 is ok for everyone who already bought SKY and it's very good that devs don't hurt existing coin holders and community(!). Would you be happy to buy now for 0.001 and after few month see new distribution at price of 0.000001? Probably not if you want to hold and not dump coins immediately at a higher price. So if someone wants to buy cheaper than 0.002, you have options to do so (and this is not "pump" advice, it's just reality). If you think that price will go lower and lower, just wait and buy later - that's very simple.

IMO the price is not OK. The price is too high.
Why would anyone buy into this ICO when the market price is nearly 50% lower?
Anyone paying even the market price is kind of foolish when circa 95% of the coins are yet to be distributed.
Look at something like Byteball which is being distributed for FREE. There is a huge buzz around it, yet the price is falling as more supply comes online. Simple economics.
The coins need to be distributed for this project to be taken seriously but attempting to gouge the community like this is not the way it's going to get done.
No one is really talking about Skycoin on here and that's not going to change unless more people are able to get on board at a FAIR price.


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August 09, 2017, 10:01:29 AM
 #3173

Just want to point out that coin distribution price is fine. It cannot be lower, otherwise, those who bought coins at 0.0016+ will lose money immediately. So 0.002 is ok for everyone who already bought SKY and it's very good that devs don't hurt existing coin holders and community(!). Would you be happy to buy now for 0.001 and after few month see new distribution at price of 0.000001? Probably not if you want to hold and not dump coins immediately at a higher price. So if someone wants to buy cheaper than 0.002, you have options to do so (and this is not "pump" advice, it's just reality). If you think that price will go lower and lower, just wait and buy later - that's very simple.

IMO the price is not OK. The price is too high.
Why would anyone buy into this ICO when the market price is nearly 50% lower?
Anyone paying even the market price is kind of foolish when circa 95% of the coins are yet to be distributed.
Look at something like Byteball which is being distributed for FREE. There is a huge buzz around it, yet the price is falling as more supply comes online. Simple economics.
The coins need to be distributed for this project to be taken seriously but attempting to gouge the community like this is not the way it's going to get done.
No one is really talking about Skycoin on here and that's not going to change unless more people are able to get on board at a FAIR price.


What price you think is "fair" and fair for whom?

If it's too high, just don't buy. If you want cheaper, you can buy at an exchange. If you want even cheaper than on exchange wait till the price goes down (because of all reason you think the price should go down). What's a problem? You are not obligated to participate in the distribution, especially if you think that it doesn't worth it.
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August 09, 2017, 10:19:33 AM
Last edit: August 09, 2017, 04:46:11 PM by skycoin
 #3174

I don't get this ICO.
Only just a little over 5% of this coin is circulating - the rest of the premine is held by skycoin.
This is creating an artificially high price.
1 skycoin = 0.0012 on cryptopia right now.
Yet the ICO price is 0.002!!!

Good luck with that.

There is no credibility here.


The whole point of this distribution was for the tech VC, whale cartel, and Korean/Japanese whales.

Its not for public.

Everyone is messaging and asking for a different price and wants large blocks OTC at discount to  market and we do not have a uniform process for handling this. So we are testing policy of doing the larger OTC blocks above market, then using the bitcoin as automatic price support.

The starting ICO valuation was very high, making distribution difficult and we have several options.

- For instance, we may do ninja announcement of a coin burn of 80% of the coins (reducing total supply permanently to 20 million)
- We may hard cap coin distribution to 5% per year
- We many do network incentives at the maximum rate that will only half the coin price regression line, while targeting 20% or 30% distribution, before a hard-cap of 5% distributed coins per year

We are going to do series of OTC sales and distribution events up to 10% (from 5.8% currently).

Once we are at 10%, then getting to 20% is only a 2x dilution.

Then from 20% to 30% is only 50% dilution in price per coin. And we will see what effect distribution through incentives for network participation has (bbs, skywire, etc).

Then cap of 5% max per year.

=== The Critical Period

The critical and trying period for Skycoin is where we are now, going from 5.8% dilution and low volume to 10% distribution.

We are doing OTC sales with the whales, to build up a Bitcoin fund for price support to reach the 10% distribution milestone.

At the same time, we are going to build liquidity by listing on larger exchanges. And also launch the first applications for public
- sky-messenger
- mobile wallet
- skycoin hardware for skywire network (skywire miner)
- skywire
- bbs application
- web-wallet
- viscript (orchestration and control for multiple skycoin/skywire/cxo nodes)
- CXO daemon (used by BBS)

So this distribution event is for people with too much money, who have researched the project, to buy 300 BTC blocks of Skycoin. Whales and VC, institutional investors, etc.

Also, for infrastructure testing. The existing ICO infrastructure will work for an OTC bot, so there will be a uniform process for handling OTC sales at spot price.

=== ICO trouble

We did regression line and the price should have been at 0.002 weeks ago by now.

However, someone (we presume who bought a few dozen BTC of skycoin early on) keeps selling at the $4.00 price point and it is taking weeks to eat through however many Skycoin he has. And we have been watching this for weeks.

The demand is pretty constant and I assume he will run out of Skycoin eventually.



===

The problem right with the skycoin markets is
- no one who has coins want to sell (vast majority are buy and hold, long term and just keep buying at constant rate or when they can get a deal)
- the people buying are acquiring long term positions are doing so, without driving up the prices (they are buying over long term and consolidating positions, not doing panic/frenzy buying)
- the spreads are still massive

We tried injecting coins into the OTC market at discount (30%) and it was working, but eventually some people realized they could immediately sell the coins at profit and it began droving down the price.

Then we tried small OTC sales at spot price. Which worked very well and the price per coin seemed to rise in the weeks after OTC sales and market cap increased a large multiple of amount of coins sold. I think from network effects and people promoting or tweeting. This also indicates that distribution for network activities will be very successful (like Steemmit did).

Now we are trying OTC above spot price.

The theory was that if we set the distribution event price at 0.002 BTC/SKY (500 SKY/BTC), that if it only took 50 BTC to move the market to 0.002 BTC that people would buy out the order book until the price rose to 0.002 BTC. Then this would produce a new price floor.

However, 20 hours in that has not happened yet and the price is still at 0.0012. So we will see what happens.

What did happen is that the liquidity/trading volume dropped. I think because people are not sure what will happen.

Then on the 15th, we will try a second distribution strategy.

Over the long term, the OTC distribution bot price will be reduced to be closer to the market spot price, but the number of coins available per day will be extremely limited. Where as the current distribution is significantly above market price but a very large number of coins are available relative to the existing market cap.

The total capital raise going from 5.8% to 20% distribution will be able 15 million or about 3000 Bitcoins. So I do not think the market cap is too high and there is still room for significant increase even during the distribution.

So the primary goals are
- raise money for development
- raise money for price support and market making
- increase liquidity
- test and determine systematically what kind of distribution policy and rate is best for reaching the distribution targets, without driving down the coin price

Just like Bitcoin, we expect most of the price appreciation is going to be as the distribution rate tapers and during periods of maximum user base growth.

So we are trying to do this systematically and with a bunch of small experiments.

Once the applications are done, the Skycoin market cap might be at 50 million dollars.
- We will be able to calculate the cost per user acquisition and required user incentives for userbase growth
- We be going from 15% to 20% distribution to 30% distribution (probably through the network incentives) and therefore will have about ~25 million or 50% of the market cap for user acquisition/behavior incentives (like Steemit did).
- $25/user, 25 million, 1 million users, plus organic, etc...
- then ideally the skywire incentives are tweaked so the mean revenue per user (capital inflows), exceeds the cost per user over lifetime

That is the point where, the network is operating in a closed, internal economic cycle. Achieveing this closed economic cycle is one of the one to two year, higher order goals that development is directed towards.

If we can achieve the goals of a closed or self contained economic system, that would be a major milestone for crypto. We need to have producers and consumers and they need to be balanced out in a closed cycle.

The Steemit, Bitcoin and Ethereum model is not viable in the long term, because the mining rewards and incentive costs are being subsidized by a transitory capital inflow bubble into a new asset class (cryptos). Bitcoin would not be viable if the hundreds of millions of dollar a year of operating costs for the network, were being taken out of the pocket of the Bitcoin users directly as transaction fees. It is only viable with hundreds of millions of dollars of new external money, to buy out the new bitcoin being dumped to pay for the network operating costs.

This is why the Skycoin project focused the first four years on research into new mining algorithms to reduce or eliminate network operating costs.

Then, we know know that there will be thousands upon thousands of new coins over the next ten years, so we choose a protocol heavy niche, that we wont be displaced from and where it does not make sense for anyone to complete with us. While individual products and features can be copied or clone trivially (and will be), ecosystems and protocol standards cannot be copied and have the longest lock in and most sustainable advantage for this type of product.

You can see this clearly with Ethereum, where the primary usage of Ethereum has become launching ERC20 tokens. So while any coin is able to clone the Ethereum Virtual Machine and add turing complete smart contracts to Ethereum, it becomes much harder to clone the ethereum user community, the application ecosystem and the ERC20 ecosystem.

So we are building out the Skycoin ecosystem systematically and strategically along what we think will be best for the long term.

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August 09, 2017, 11:04:12 AM
Last edit: August 09, 2017, 04:44:27 PM by skycoin
 #3175

=== FileCoin/IPFS vs Skycoin

We have been asked what is the difference between CXO and IPFS.

File Coin has the same objectives as a part of the Skycoin infrastructure, but is taking a different approach. They have three separate protocols
- IPLD
- IPFS
- Multi-formats

- IPLD is a representation language for immutable data objects and hashes.
- IPFS is a file system
- Mult-formats is a self describing data standard

In Skycoin CXO does all three of those
- Multi-formats is just a "schema" in CXO
- IPLD is just CXO (immutable data structures, hash chains, replication, merkle trees etc)
- IPFS is just an application on top of CXO (CXO is immutable object system and files are just objects, so do not need special treatment because files are just a type of object)

FileCoin does "proof of storage". While Skycoin takes a different technical approach, because we think proof of storage is too complicated and is not really what the user wants and its not actually the bottleneck.

IPFS/IPLD/Filecoin is designed to integrate into the existing web-infrastructure and javascript. While skycoin is implementing a new eco-system de-novo (skywire, CXO, CX), because the existing ecosystem lacks required mathematical properties (javascript is not deterministic, implementations vary between browsers, cannot be used to embedded on blockchain or used to full potential because of legacy issues).

And additionally, because privacy and security is not something that can be duct taped on to the top level of a stack, but requires the proper design of every component from the hardware, up. Skycoin takes a mathematically strict, elegant approach that allows a simpler implementation by having a self contained standard and eco-system.

So file-coin will integrate with the existing internet and will just be a javascript library that can be imported. Skycoin will have a new internet with parallel protocols and hardware.

The roughness and impedance mismatch is always going occur at the system interfaces and skycoin took take the approach of minimizing the components to the minimum, being self contained and minimizing dependencies between the modules. One of the reasons we did not do "proof of storage" for incentives was that it required making file storage a dependency upon the blockchain and we felt file storage already operates efficiently, without adding the overhead of a blockchain, so that this was not the right place to put the user incentives.

We did not want to build a "new internet" that simply shuts down like an arcade machine because the user did not put in enough coins. We did not want the user experience, to be having to pay for every single feature, button click, file download or action, when each action is effectively costless.

So Maisafe, Ethereum, FileCoin/IPFS, are all taking a different approach and philosophy, but heading in the same direction. There are substantial differences in scope and technical implementation
- Ethereum tries to put everything in the world on a single blockchain (while skycoin puts almost nothing on the blockchain, except coin payments. Skycoin has an individual blockchain for its version of ERC20 tokens, instead of putting all the tokens on a single monolithic blockchain)
- MaidSafe is concerned with identity and has the least blockchain (while in MaidSafe there are global identities, in Skycoin Identities are just public keys and are pseudo anonymous. MaidSafe does not actually have a blockchain)
- FileCoin is concerned with proof of storage and only file storage (Skycoin also includes communication and computation as primitives. Skycoin's storage mechanism is independent of the blockchain and is only monetized indirectly)
- Golem is only concerned with renting out servers/GPUs by the hour for coins (which is the same as EC2 that takes Bitcoin and will just be a minor feature of more advanced networks)

One of the problems in the Skycoin Project, is that the documentation and whitepapers only cover the work on consensus (two years old already) and have do not show the current development work and ecosystem. So the website needs to be updated and we need new white papers about each of the sub-projects.

The development is significantly ahead of documentation. For instance CXO applications (BBS) are already in testing and light usage, while the white paper for CXO still has not been written yet.

So we are still catching up on the marketing and communication back log.

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August 09, 2017, 12:56:15 PM
 #3176

Good post...

Maid has actually no blockchain at all.

And i think closer to getting a full release than people think.

I see everything being effected by IOTA with no blockchain, Instant transactions, no fees and soon smart contracts.

It would be interesting to get your view on how Sky and IOTA compare.

IOTA is POW but not by a miner.

When you do a transaction you POW 2 transactions of others from your own wallet.

Are you aware of IOTA consensus security?

https://www.youtube.com/watch?v=nswo5CurPxA




http://heatledger.com LIVE ICO 3.0 GENERATION CRYPTO WITH COMPANY STOCK IPO OPTIONS
SatoNatomato
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August 09, 2017, 03:40:16 PM
 #3177

...vomit...


What a shill.
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August 09, 2017, 03:49:29 PM
 #3178

Chill...

One dev lied one dev posted a useful post...

Multiple people using this username skycoin is not ideal..

take a pill

http://heatledger.com LIVE ICO 3.0 GENERATION CRYPTO WITH COMPANY STOCK IPO OPTIONS
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August 09, 2017, 05:08:01 PM
 #3179

Just one doubt, if the ICO is actually getting a response, why aren't the 40BTC+ of sell orders on topia below 0.002 BTC already taken out? Even whales wouldn't waste money. If they want to buy 100 or even 300 BTC worth of sky, they just need to spend another 2 mins extra to save themselves a lot more BTC by buying out the first 40BTC worth from cryptopia. BTC they could use to get even more sky.

Genuine question, have you managed to actually sell much yet in this distribution?
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August 09, 2017, 05:16:07 PM
 #3180

Good post...

Maid has actually no blockchain at all.

And i think closer to getting a full release than people think.

I see everything being effected by IOTA with no blockchain, Instant transactions, no fees and soon smart contracts.

It would be interesting to get your view on how Sky and IOTA compare.

IOTA is POW but not by a miner.

When you do a transaction you POW 2 transactions of others from your own wallet.

Are you aware of IOTA consensus security?

https://www.youtube.com/watch?v=nswo5CurPxA


Skycoin was designed from day one for DAG.

The major problem with DAG, is that there is nothing to upper-bound the CPU/bandwidth usage of the network.

With Skycoin, we can limit the network to use 5 KB/s and we can put hard upper bounds on the CPU, memory and bandwidth usage. This will be very important in a war scenario, submarine cables being cut or if governments start aggressively blocking VPNs and applications.

Or if everything is working correctly, we can do 300 transactions/second or as many as needed. But during stress or crisis, the resource upper bound can be cut back and hard capped. This is really important in many situations.

The biggest threat, is not attacking the network the way people imagine it. The biggest weakness of the existing coin designs is denial of service attack and spamming the network with junk data.

With a tangle/DAG, it is too easy to spam the network with massive amounts of transactions and increase the bandwidth/CPU usage, until nodes start dropping off.

Even if Skycoin moves from blockchain to DAG, we will still be using the consensus infrastructure and created another metric called "CoinHours" to rate limit the global transaction rate.

Whole countries are going to block VPNs, block foreign websites and cut themselves off from the global internet within twenty years. They are going to mandate special domestic network protocols. They will (and are) using machine learning to identify particular types of traffic and drop them, redirect them or cut them off.

The Skycoin architecture was designed for high reliability in a cyber warfare scenario, with active attempts at detection and termination of network connections, fixed CPU/memory constraints and potentially an upper cap on bandwidth.

---

For instance we will have "Sky-messanger" and ability for machine to machine communication by public key
- Sky-messanger will have multiplexer and multiple redundant channels or connection methods available, including CXO mutual pub-sub, direct TCP/ip connection (TOX-like), skywire (multi-hop, pluggable transport, like open-flow), etc

Then we will have an "asynchronous wallet". That runs through sky-messenger. So that even if you do not have enough bandwidth/storage/cpu you can still get wallet updates and inject transactions (thin client). And this will work, even if the network is extremely limited and connectivity is unreliable and available bandwidth is limited. This will even work over SMS channels or HAM radio and will very light.

So we have different "degrees" or level that a node can operate at
- ultra-thin client (ex. mobile wallet that just can check balances and send, get streaming history updates, etc)
- normal node (fixed bandwidth, CPU, RAM upper bounds)
- super-node (cluster of +16 arm boards (the skywire miners), skywire nodes, route topology information, CXO nodes, content (BBS nodes, etc), skycoin thin client access points, dedicated hardware interlinks to other clusters, etc)

So while a normal client only takes input from a finite number of nodes for consensus, etc

A super-node might have subscriptions and peer-to-peer replication of every pubkey/node participating in the whole consensus network. It may also have a full route and topology map for the whole skywire network and would be exposing services and APIs to other nodes.

So we "finished" the blockchain part and then we are expanding out in another direction. The "blockchain" part is "done" for now and the other parts of the network become much more important to the future direction, because there is nothing with the blockchain we can improve beyond the existing architecture/design.

So the low hanging fruit is at the network architecture level, the application layer and we are almost done innovating or making changes with the blockchain layer completely.

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