[ANN]🚀🚀🚀Merit🚀🚀🚀[Proof-of-Growth][PoW][Vaults][Aliases][Escrow][No ICO]

[MarshallJennifer]

Good day  I am interested in this business because it could be a turning point when it will be realized. It'snecessary to help to promote it. A modest sum is sufficient to make it concrete

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[KAMO287]

So, this project seems to have a focus on making crypto accessible and easy for everyday users, right?

So far, the wallets seem quite easy to use, and I can see someone less technical than me being able to use it without training.

But, a big part of everyday usage is to actual buy things.  Even though the team has a big eCommerce background, I don't see anything in the ANN (or website) about retail partnerships.

Is there a plan for this?  Or is the idea to just focus on PayPal use case right now?

I know I have heard the team ideating around how to approach this - I am not sure where they are at when it comes to the roadmap or things behind the scenes as testing or prototyping. This first wave of P2P seems to be the focus during this phase BUT they are very aware of the need for exchanges and retailers and Point of Sale applications for Merit to be used and adopted to the masses.

Maybe someone from the team can add more details on the roadmap side of this 

[Che454010]

Good day  I am interested in this business because it could be a turning point when it will be realized. It'snecessary to help to promote it. A modest sum is sufficient to make it concrete

LoL, not really even sure what this means. 

In any case, the project is already realized.  There is a livenet.

[BitCoinsForGold]

So, this project seems to have a focus on making crypto accessible and easy for everyday users, right?

So far, the wallets seem quite easy to use, and I can see someone less technical than me being able to use it without training.

But, a big part of everyday usage is to actual buy things.  Even though the team has a big eCommerce background, I don't see anything in the ANN (or website) about retail partnerships.

Is there a plan for this?  Or is the idea to just focus on PayPal use case right now?

I know I have heard the team ideating around how to approach this - I am not sure where they are at when it comes to the roadmap or things behind the scenes as testing or prototyping. This first wave of P2P seems to be the focus during this phase BUT they are very aware of the need for exchanges and retailers and Point of Sale applications for Merit to be used and adopted to the masses.

Maybe someone from the team can add more details on the roadmap side of this 

Thanks for this answer -- I will also wait for someone on the Core Team to elaborate more.

It seems to me that there are two paths: 1) Getting people into crypto for the first time (helping them get other coins, possibly).  2) Allowing people to use crypto in their daily life, like buying stuff. 

[@scambuster]

So, this project seems to have a focus on making crypto accessible and easy for everyday users, right?

So far, the wallets seem quite easy to use, and I can see someone less technical than me being able to use it without training.

But, a big part of everyday usage is to actual buy things.  Even though the team has a big eCommerce background, I don't see anything in the ANN (or website) about retail partnerships.

Is there a plan for this?  Or is the idea to just focus on PayPal use case right now?

I know I have heard the team ideating around how to approach this - I am not sure where they are at when it comes to the roadmap or things behind the scenes as testing or prototyping. This first wave of P2P seems to be the focus during this phase BUT they are very aware of the need for exchanges and retailers and Point of Sale applications for Merit to be used and adopted to the masses.

Maybe someone from the team can add more details on the roadmap side of this 

Thanks for this answer -- I will also wait for someone on the Core Team to elaborate more.

It seems to me that there are two paths: 1) Getting people into crypto for the first time (helping them get other coins, possibly).  2) Allowing people to use crypto in their daily life, like buying stuff. 

My interest would be in getting people to buy things.  To be honest, I don't think there is much of a market for any altcoins that are not in the top ~50 in the next 24 months.

So, to me, this coin would be especially interesting if it made it easy to buy things in the real-world.  Or, if it solved P2P sending more deeply.  

If they are going to solve P2P sending (like Paypal), I cannot see it being done without some form of fiat-bridge.  

[KAMO287]

The Escrow Links seem like a really good idea.  (This is what is called MeritMoney on the website, yes?  Or is that something different.)

Can I ask how those are implemented?  How do you keep an on-blockchain escrow secure from prying hands?

Yes. The MeritMoney link will hold the MRT and the Invite in escrow until it is claimed. It can be canceled if never used or accidently sent etc...

When it comes to how, I'll have to let someone more technical chime in 👍. I can say , it works very well so far!

Yeah, I'd love to see someone on the Core team answer this question too.  To be honest, this seems like it could be the most "killer feature" of this currency.

I see how the growth-mining thing can get people excited.  I'm not the biggest fan of this because I am not very comfortable sharing things with my friends. 

But, I think that the idea of sending crypto like Paypal/Venmo/AliPay seems very interesting.  This feels like a big feature, but it's not clear to me how it's implemented and how decentralized it is.

I was able to catch one of them on Discord - and in simple terms - the MeritMoney and MeritInvite "escrow" links are decentralized and designed + scripted to act like a smart contract. Basically the funds or invites will sit out there for eternity if the end user never claims them OR if the transaction is never canceled.

To be honest. It's a huge feature and I have only used it a few times- In the wallet it has the option to send it to email, phone or just create a link - you can even add a password to protect it from getting used by the wrong person.

If anyone wants to see how this works, send me a PM - I am honestly wanting to test the password feature (never done that). I'll drop in some merit and an invite if you want to test it.

DONT go out and create a wallet/alias yet. The link is intended to be sent to someone who isnt a part of Merit. It would be cool to hear about the experience! PM me- I can email a link, text a link, or I can drop the link in bitcointalk PM .

Thanks for letting me be curious  

[sirmitashi]

I have few question regarding this project:

They have only centrally control wallet and market, how it will add to other exchanger or services?
How it will grow, if other 3rd party services can not use it without invitation?
How exactly invitation created?

[junnai189]

Is the plan for this project to be invite-only forever?  Or just for a limited period of time? 

I think we are all familiar with famous growth stories based on an invite-only model.  (Facebook, GMail, Pinterest, Spotify)

But, I think in all of the above cases, the product eventually CAME OUT of this invite-only stage and became publicly available. 

I'm not saying this is needed for Merit to be successful, but I'd like to understand if there is some plan for this.

[disifi]

Is the plan for this project to be invite-only forever?  Or just for a limited period of time?  

I think we are all familiar with famous growth stories based on an invite-only model.  (Facebook, GMail, Pinterest, Spotify)

But, I think in all of the above cases, the product eventually CAME OUT of this invite-only stage and became publicly available.  

I'm not saying this is needed for Merit to be successful, but I'd like to understand if there is some plan for this.

No, it's not in plan. Here invites are not to restrict access to project, exactly the opposite, it's supposed to make it grow. Algorithm for generating invites are dynamic so there won't be out of stock - if more invites are used, more invites will be distributed.

[KAMO287]

I have few question regarding this project:

They have only centrally control wallet and market, how it will add to other exchanger or services?
How it will grow, if other 3rd party services can not use it without invitation?
How exactly invitation created?

--1---------1------1----1--
From website FAQ:  https://www.merit.me/faq/

The Merit Market is our first exchange. =] We have not talked to any third-party exchanges yet, but we plan to reach out to them soon. We followed this strategy for many reasons.

The short version is that Merit has been successful so far in onboarding many new users who have never used crypto before. We are extraordinarily proud of this. And most exchanges are “Expert Mode” with 100s of currency pairs and very complex “daytrader” interfaces.

We wanted to be sure that we provided a remarkably simple and easy way for new users to Merit (and crypto in general) to get their hands on Merit.

Additionally, because Merit is invite only, exchanges will have to do a little extra work in order to list MRT. We have several ways to facilitate this process, but in the short term we will continue to support the Market.

---2----2-------2----2-----

Right now it's early, and invites are slowly starting to get distributed - eventually I think the goal is that if someone needs an invite, we have them and many are ready. Not that everyone will have 1000 invites, but the idea is that we'll always have someone ready and willing to share the invites.


---3---------3------3------3-----

- 1 of 10 blocks for PoG miners
- from the rest:
      - 50% awarded based on your CGS (community growth score).
      - 40% awarded to new addresses (Max 1 per address).
      - 10% awarded to random addresses.
- Minimum of 144 invites airdropped per day. Grows as needed.
- Number Airdropped based on overall growth, more growth means more invites generated.


Let me know if that helped!

[disifi]

I have few question regarding this project:

They have only centrally control wallet and market, how it will add to other exchanger or services?
How it will grow, if other 3rd party services can not use it without invitation?
How exactly invitation created?

Small addition to awesome KAMO response about centralized wallets - actually there is also full node wallet, not only centralized. You can run full node for yourself. https://www.merit.me/technology/#get-core-client

[EmTee]

Had a look through the whitepaper and have to say it looks great. It explained a few things around masternodes as well.

Just to clarify, this project has no Masternodes.

[xaker74]

Here is what I think so far:

• Strong team
• Well-executed product
• Seems like strong community
• PoG is a pretty good idea

My only concern now is really about timing.  Many of us here are crypto fans, and have been watching bitcoin a long time.  And, there has been a lot of growth in users in the last 12 months, but I think most of them are investors, not "daily users."

So I am wondering -- when will crypto "go mass market?"  Or maybe, "will crypto ever go mass market?"  If the answer here is "no", then of course it means trouble for all cryptos.

Merit seems to be on the right track in making it easier.   If it continues its growth, but not just for the sake of investment, but actually for usage, then I think this project could be very well positioned.

[KAMO287]

Here is what I think so far:

• Strong team
• Well-executed product
• Seems like strong community
• PoG is a pretty good idea

My only concern now is really about timing.  Many of us here are crypto fans, and have been watching bitcoin a long time.  And, there has been a lot of growth in users in the last 12 months, but I think most of them are investors, not "daily users."

So I am wondering -- when will crypto "go mass market?"  Or maybe, "will crypto ever go mass market?"  If the answer here is "no", then of course it means trouble for all cryptos.

Merit seems to be on the right track in making it easier.   If it continues its growth, but not just for the sake of investment, but actually for usage, then I think this project could be very well positioned.

Thanks for doing your own research and the recap. that's more than a lot of crypto readers 

I agree that Bitcoin will struggle with mass adoption due to a handful of reasons, but the investor mentality for sure.

Not that Merit isnt an investment (or gamble however you see it) but the points you made about the team + product + community + creative approach to growth rewards ... I think they have something more unique and special.

Building the bridge to future exchanges and future retailers + shops that have little crypto background will be a HUGE win.

I recall one of the Devs saying the primary audience isnt the crypto community - it's the ocean of the real world users. Very encouraging.

[kameiro]

This is a plan that addresses the people’s problem and pays for the goods. The allocation of funds on each business item is one of the factors that can compete with other plans for the same purpose in the market. The community paid much attention to the issue. Can you share more detail?

[BitCoinsForGold]

Here is what I think so far:

• Strong team
• Well-executed product
• Seems like strong community
• PoG is a pretty good idea

My only concern now is really about timing.  Many of us here are crypto fans, and have been watching bitcoin a long time.  And, there has been a lot of growth in users in the last 12 months, but I think most of them are investors, not "daily users."

So I am wondering -- when will crypto "go mass market?"  Or maybe, "will crypto ever go mass market?"  If the answer here is "no", then of course it means trouble for all cryptos.

Merit seems to be on the right track in making it easier.   If it continues its growth, but not just for the sake of investment, but actually for usage, then I think this project could be very well positioned.

Excellent summary here.  I agree with most of it.

Maybe I'm too much of a crypto fanboy, but I believe that it will eventually replace fiat.  I do think that the ups and downs of it are painful, though.

What I do love is just how fast a TXN can go through with crypto (on anything but BTC, lol).  But it still kind of seems like most everyday users are not used to "holding the keys to their money."

Credit cards and other stuff is easy because you can call the bank if something goes wrong...

[Imleabmeine]

Good day, all!
Hello to everyone! I still need to study the whitepaper of this project. But what payments methods can I use in order to buy your tokens for holding?

[Dreaming]

Good day, all!
Hello to everyone! I still need to study the whitepaper of this project. But what payments methods can I use in order to buy your tokens for holding?

First, you need an invite to create a wallet. Go to https://www.merit.me/get-started/#get-invite-application

Second, go to https://market.merit.me and login using your private wallet seed.

Third, buy some Merit paying with BTC.

Except you need an invite to buy them from what I understand? How does that work?

[littlehobo]

Good day, all!
Hello to everyone! I still need to study the whitepaper of this project. But what payments methods can I use in order to buy your tokens for holding?

First, you need an invite to create a wallet. Go to https://www.merit.me/get-started/#get-invite-application

Second, go to https://market.merit.me and login using your private wallet seed.

Third, buy some Merit paying with BTC.

Except you need an invite to buy them from what I understand? How does that work?

if you head to ithe website you can ask for one there, there will be someone who will send you an invite.

or even better hope into the discord channel https://discord.gg/U8hVCW and then just go to the invites room. always people looking to invite in there

questions are quicker answered usually there as well.

[littlehobo]

Here is what I think so far:

• Strong team
• Well-executed product
• Seems like strong community
• PoG is a pretty good idea

My only concern now is really about timing.  Many of us here are crypto fans, and have been watching bitcoin a long time.  And, there has been a lot of growth in users in the last 12 months, but I think most of them are investors, not "daily users."

So I am wondering -- when will crypto "go mass market?"  Or maybe, "will crypto ever go mass market?"  If the answer here is "no", then of course it means trouble for all cryptos.

Merit seems to be on the right track in making it easier.   If it continues its growth, but not just for the sake of investment, but actually for usage, then I think this project could be very well positioned.

Excellent summary here.  I agree with most of it.

Maybe I'm too much of a crypto fanboy, but I believe that it will eventually replace fiat.  I do think that the ups and downs of it are painful, though.

What I do love is just how fast a TXN can go through with crypto (on anything but BTC, lol).  But it still kind of seems like most everyday users are not used to "holding the keys to their money."

Credit cards and other stuff is easy because you can call the bank if something goes wrong...

this is the issue that needs overcoming. Right now we can blame banks, thaats a hard thing to give up!! Merit does have a cnacel transaction feature in there, though ihavent tried it myself.