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

[Kaushik Deverreoux]

Is the plan open source? Where can I find the source code? Does your project have a bug bounty program? Where can I find your GitHub, Twitter, Facebook, LinkedIn, Slack and/or Subreddit? What is the web address for your idea?

[1715626448]

1715626448

[1715626448]

1715626448

[1715626448]

1715626448

[1715626448]

1715626448

[1715626448]

1715626448

[mempko]

Is the plan open source? Where can I find the source code? Does your project have a bug bounty program? Where can I find your GitHub, Twitter, Facebook, LinkedIn, Slack and/or Subreddit? What is the web address for your idea?

All our code is posted on Github here: https://github.com/meritlabs

Core: https://github.com/meritlabs/merit
Miner: https://github.com/meritlabs/libmeritmerit
Bluepaper: https://github.com/meritlabs/bluepaper
Mining Pool: https://github.com/meritlabs/merit-pool
Twitter: https://twitter.com/merit

[posi]

I like the fact that this project was base on POG and POW. In addition, I also like the concept behind it either i.e the three pillars which the project was meant to trigger but I don't know if you guys are planning to do an ICO in the future because I read through your site and road map nothing was said about ICO
Meanwhile, how are you planning to do the whole thing if theres no ICO now and in future?

dev dont want ico because he has 1mil usd to invest in his coin.

Here's an article that details Merit's USD 1M funding: https://www.businesswire.com/news/home/20180509005407/en/Merit-Emerges-Stealth-Announces-1M-Funding-Availability

An excerpt from it will explain why there will be no ICO: "the ICO model incentivizes behavior to increase the valuation of cryptocoins before useful blockchain applications are created. Such front-loading of capital into an organization limits opportunities for decentralized acquisition, such as mining. It also harkens comparisons to the cash-rich, hollow startups of the dot-com era. Designed to grow as a healthy, sustainable system, Merit is decentralized and widely applicable, course-correcting back to Satoshi’s mission."

Wow! This is so captivating because $1M seems to be small for the concept  the project entails and if Merit teams could use such amount of money to finance their project I wonder why other ICOs said the need to reach their hard cap before they could manage their project proper, Adil Wali  does have much experience.

It's true, 1M doesn't seem like much considering the scope of the project. But they also have additional sources of revenue in the form of market fees (the Merit market takes 0.75% as fees for each trade). Moreover, 20M MRT is pre-mined which will also contribute towards the project.

Looking at the amount of planning and execution that has already gone into the entire Merit system, I don't think the Team has somehow overlooked future running costs and expansion costs which is one of the most vital aspects for any project looking to scale. I'm sure they have something awesome planned for that as well.

With what I have seen so far concerning the experience and wisdom of the team. I believe they already have some plan about the future  running cost of the project cause  they have already from bitcoin vulnerability. Mind you, this project is voluntary project and I think the 0.75% will be meant for doing the project necessary activities.

[KAMO287]

They are not doing an ICO because the team is self-funded allowing for them to actually build a great product! You should read about the CEO and the past business success. This team is the real deal.

What I think is the real deal in our community. They are far more active and helpful than any other's that I have seen. Many other projects are full of negativity and are ghost towns. While it's clear there are mindless spammers posting on this ANN and others, it's pretty obvious to see who the real people are.

Not only the real deal, but the overall Merit Community knows its stuff! There are many communities out there that have shills and fans but dont really know the project. We have some very knowledgeable community members as evidence by the past 20 pages! So cool to see 

[Venable-Jahmal]

What I like about this business is it tackles the very basic transaction between different merchants and banks . Crypto usage is still a taboo for merchants as volatility sets in but they are really open to the idea of the project of handling the process of conversion.

[c3tr4]

Hello,

3 invites left to unlock a Merit Wallet, will be keeping an eye on it daily to activate asap.  You may also send me a PM.

https://wallet.merit.me/?invite=Cetra

[saher]

Hello friend! I want you to join to the merit community. That's not as hard as you think. You just need to follow that ***click*** link ***click*** then register and pm me to approve your request. That's all! Come on, hurry up!
https://wallet.merit.me/?invite=saher

[AppleSauced]

Pyramid Scam Alert!!! Stay Away!!!! I have taken a good look at this project, and it is surely a pyramid scam. It is in your best interest to grow your community, so you can earn these so called growth rewards. These growth rewards are based on your community score, where score is based on a combination of things like how many coins you have, how many people you have under your community, the age of the coins you have, etc.

The problem here is, there is only so many invitations available, and they are basically produced at a steady rate. This means the supply of invitations will always be limited and will be scarce. Right now, the early adopters of this coin have the majority of the invites, stocked up from the earliest mining days. So they are getting all of the new invitees, while people are in the trading channel trying to sell invites up to 10-30 merit each, which currently translate to $2.65 - $7.50 per invite at 4250 satoshi per merit.  Sure, these people claim it is easy to get invited, but to grow your community, it is a mission in it self.  You can try to invite people in various ways, but the easiest way would be to invite someone through the discord or telegram. However, there are the same people there, fighting over invitees, spamming their invite link over and over again, like clockwork, some even have bots running, so your chances to get a invite is basically 0.

When you do get a invitee, the chances of that person being a real active miner is low because it was most likely a spammer, trying to make as many fake accounts he or she can.  Why do they do this? because of the invite situation. 40% of new accounts eventually mine a invite over time, so people are spamming the discord bot and using posted links to generate new accounts. Many of these accounts are being made in order to farm invites. With invites only being generated at a steady rate and the spam account nonsense, how can anyone new build their community effectively without having to spend $2.65-$7.50 per invite, and without that invite getting wasted on a spammer?

This coin looks like a sh*t show, and stinks of pyramid scam. You basically can get invited for free from someone, but would then have to spend money in order to buy invites to grow your community. However, most of the time your invite will get wasted by a fake/spam account anyways. People say you can verify your invitee, but it is just as easy to log in from another computer and verify using a different username on discord or telegram.

Stay away, there are better projects out there.

[chixka000]

Given the high volatility of these currencies and the broader market external factors, it is difficult to imagine that one user will be able to attract many friends to this area.

[c3tr4]

Pyramid Scam Alert!!! Stay Away!!!! I have taken a good look at this project, and it is surely a pyramid scam. It is in your best interest to grow your community, so you can earn these so called growth rewards. These growth rewards are based on your community score, where score is based on a combination of things like how many coins you have, how many people you have under your community, the age of the coins you have, etc.

The problem here is, there is only so many invitations available, and they are basically produced at a steady rate. This means the supply of invitations will always be limited and will be scarce. Right now, the early adopters of this coin have the majority of the invites, stocked up from the earliest mining days. So they are getting all of the new invitees, while people are in the trading channel trying to sell invites up to 10-30 merit each, which currently translate to $2.65 - $7.50 per invite at 4250 satoshi per merit.  Sure, these people claim it is easy to get invited, but to grow your community, it is a mission in it self.  You can try to invite people in various ways, but the easiest way would be to invite someone through the discord or telegram. However, there are the same people there, fighting over invitees, spamming their invite link over and over again, like clockwork, some even have bots running, so your chances to get a invite is basically 0.

When you do get a invitee, the chances of that person being a real active miner is low because it was most likely a spammer, trying to make as many fake accounts he or she can.  Why do they do this? because of the invite situation. 40% of new accounts eventually mine a invite over time, so people are spamming the discord bot and using posted links to generate new accounts. Many of these accounts are being made in order to farm invites. With invites only being generated at a steady rate and the spam account nonsense, how can anyone new build their community effectively without having to spend $2.65-$7.50 per invite, and without that invite getting wasted on a spammer?

This coin looks like a sh*t show, and stinks of pyramid scam. You basically can get invited for free from someone, but would then have to spend money in order to buy invites to grow your community. However, most of the time your invite will get wasted by a fake/spam account anyways. People say you can verify your invitee, but it is just as easy to log in from another computer and verify using a different username on discord or telegram.

Stay away, there are better projects out there.

Read everything you have to say and gave you a fair take but what you've explained here doesn't add up to a pyramid scheme but rather something you don't approve of because you weren't here from the beginning.  From there you've just made a ton of assumptions, some may be true about others having more invites and how difficult it is to built a good community but that still has nothing to do with being a bad coin or pyramid scheme.  You can always mine something that makes you 25 cents per 1080TI instead if you want.

[RobersonRichard]

Invested in your project a pretty big sum of money, it looks amazing and I can’t wait for the creators to reveal even more ‘bout it. Кeep the good work! I will sta tuned for your updates!

[KAMO287]

Pyramid Scam Alert!!! Stay Away!!!! I have taken a good look at this project, and it is surely a pyramid scam. It is in your best interest to grow your community, so you can earn these so called growth rewards. These growth rewards are based on your community score, where score is based on a combination of things like how many coins you have, how many people you have under your community, the age of the coins you have, etc.

The problem here is, there is only so many invitations available, and they are basically produced at a steady rate. This means the supply of invitations will always be limited and will be scarce. Right now, the early adopters of this coin have the majority of the invites, stocked up from the earliest mining days. So they are getting all of the new invitees, while people are in the trading channel trying to sell invites up to 10-30 merit each, which currently translate to $2.65 - $7.50 per invite at 4250 satoshi per merit.  Sure, these people claim it is easy to get invited, but to grow your community, it is a mission in it self.  You can try to invite people in various ways, but the easiest way would be to invite someone through the discord or telegram. However, there are the same people there, fighting over invitees, spamming their invite link over and over again, like clockwork, some even have bots running, so your chances to get a invite is basically 0.

When you do get a invitee, the chances of that person being a real active miner is low because it was most likely a spammer, trying to make as many fake accounts he or she can.  Why do they do this? because of the invite situation. 40% of new accounts eventually mine a invite over time, so people are spamming the discord bot and using posted links to generate new accounts. Many of these accounts are being made in order to farm invites. With invites only being generated at a steady rate and the spam account nonsense, how can anyone new build their community effectively without having to spend $2.65-$7.50 per invite, and without that invite getting wasted on a spammer?

This coin looks like a sh*t show, and stinks of pyramid scam. You basically can get invited for free from someone, but would then have to spend money in order to buy invites to grow your community. However, most of the time your invite will get wasted by a fake/spam account anyways. People say you can verify your invitee, but it is just as easy to log in from another computer and verify using a different username on discord or telegram.

Stay away, there are better projects out there.

If you've been around the project long enough, you'll know that the invite distribution is something the core team has been trying to tackle for a long time. Not to get into all of the details, but the invites were rather poorly early on, the core team worked very hard to try to make the growth reward distribution and invite distribution more fair, and now we have POG2 - where not only the rewards, but the invites are distributed differently- and in a better way. That doesnt change the fact that whales will be whales - but that's true in any project- with Merit we just hope these early adopters/whales use their influence for good and not abuse the system.

Sure there are issues with distribution still (like your point of fake ppl farming the 40% airdrop invites) , but it's a lot better than it was before. Does it mean there are still down sides? YES - does it mean there are still bad humans willing to do bad things - YES. --- What this really shows is that the core team is willing to plan-do-check-adjust around a solution. How many teams out there get so stuck in their idea that they arnt willing to change? I believe we'll prob see a POG3 and POG4 some day- why? because the team is not afraid to fine tune the solution to better serve the community.

All of that being said, the economy of invites being in low supply, I agree- it stinks, and it's not the way it should be (my personal opinion about selling at high prices etc) - but it's also very silly for 20 people to jump on 1 brand new person on discord/telegram. I cant speak for the core team, but I think that's the point of Merit, it should be real, organic growth of our own-personal networks- this way you KNOW the person you're inviting and you have to worry less about "is this someone trying to scam me out of an invite". I dont really post my link in telegram/discord much anymore (unless I see a need) because I am looking for alternative ways to grow - something more REAL. less lazy- less short sighted.

I havnt addressed your pyramid claims, because it's been addressed many times before in this thread, and it seems you're just upset so you're not really looking for an explanation - but for the Merit Proof of Growth to really work, we need real - organic- growth of the network- with real people, that will go a long way. Also, people dont realize but the growth rewards dont increase with the network size - it's tied to the blocks, so right now we're at 13k wallets? I imagine when Merit grows to 200k wallets this entire ecosystem of invites + growth will have less issues... in other words- it's designed to work better the larger it gets (my perspective).

That reply is a lot longer than I thought it would be 

[tablesandbenches]

Pyramid Scam Alert!!! Stay Away!!!! I have taken a good look at this project, and it is surely a pyramid scam. It is in your best interest to grow your community, so you can earn these so called growth rewards. These growth rewards are based on your community score, where score is based on a combination of things like how many coins you have, how many people you have under your community, the age of the coins you have, etc.

The problem here is, there is only so many invitations available, and they are basically produced at a steady rate. This means the supply of invitations will always be limited and will be scarce. Right now, the early adopters of this coin have the majority of the invites, stocked up from the earliest mining days. So they are getting all of the new invitees, while people are in the trading channel trying to sell invites up to 10-30 merit each, which currently translate to $2.65 - $7.50 per invite at 4250 satoshi per merit.  Sure, these people claim it is easy to get invited, but to grow your community, it is a mission in it self.  You can try to invite people in various ways, but the easiest way would be to invite someone through the discord or telegram. However, there are the same people there, fighting over invitees, spamming their invite link over and over again, like clockwork, some even have bots running, so your chances to get a invite is basically 0.

When you do get a invitee, the chances of that person being a real active miner is low because it was most likely a spammer, trying to make as many fake accounts he or she can.  Why do they do this? because of the invite situation. 40% of new accounts eventually mine a invite over time, so people are spamming the discord bot and using posted links to generate new accounts. Many of these accounts are being made in order to farm invites. With invites only being generated at a steady rate and the spam account nonsense, how can anyone new build their community effectively without having to spend $2.65-$7.50 per invite, and without that invite getting wasted on a spammer?

This coin looks like a sh*t show, and stinks of pyramid scam. You basically can get invited for free from someone, but would then have to spend money in order to buy invites to grow your community. However, most of the time your invite will get wasted by a fake/spam account anyways. People say you can verify your invitee, but it is just as easy to log in from another computer and verify using a different username on discord or telegram.

Stay away, there are better projects out there.

You DO NOT have to invite anyone to earn Growth Rewards, just holding Merit will earn you growth rewards as well. So, your complaint is basically that one way of earning growth rewards is expensive/hard.  Which is true of every way of getting some of the block generation reward.  Security mining? Expensive.  Growth mining? Also expensive, just in different ways.  

Yes, it is work to grow the community, which is why it's counted as a valuable activity.  The easiest ways to do so are currently through the Telegram and Discord channels, so there is a large amount of competition for it.  

Essentially, this is similar to actual security mining.  It takes a heavy investment in equipment and technical know-how to security mine, and even then there are a bunch of other miners participating in the network to increase the hashrate. So your chances of winning a block are very low and yet you have to continually burn money in electricity just to participate in a chance to mine a block.  How are Growth Rewards any different?  

You may not like the invite dynamics, but how is it a pyramid scheme?  Pyramids schemes increase the amount of money in the system by brining new users into the network.  The amount of MRT is fixed by the mining algorithm.  Growth rewards just alter the distribution and spread it among those who 1. HOLD Merit OR 2. Have large networks.  

It feels like you're complaining about the fact that users are exhibiting bad behavior by spamming their invite links, but humans are generally known for exhibiting bad behavior.  Someone stealing thousands of dollars worth of bitcoin is bad behavior, does that make bitcoin a terrible project?

Again, you don't have to invite anyone to earn some of the block generation award; you can participate in security mining or just hold Merit. Growth Rewards aren't predicated on inviting others.  

If you don't like Merit, then don't participate. But making the claim that it's a pyramid scheme without understanding 1. What a pyramid scheme is and 2. Without understanding how Growth Rewards work is unfair to the project.

[mempko]

One key thing to note is that the Merit team cannot force anyone to use invites they own in any particular way. We cannot censor how people decide to use them. When you get an invite, from mining, or waiting, getting one as a gift, or trading for one, it's yours and you can do with it as you please.

With POG2, we tried to create a more fair distribution of new invites. Since PoG2 release about 9k+ invites were generated and 7k+ wallets were created and there are more than 90k invites out there atm since launch. Some think using the market (trading invites) is an appropriate way to distribute them to those that value them. The merit team can't stop them from doing that because Merit is a decentralized system.
Again, unlike a centralized system, nobody can take invites away from someone and give them to another.

[keepwatukill]

I will instant accept your invite request and send you 1 MRT for joining my community. Happy to answer any specific questions as well. https://wallet.merit.me/?invite=keepwatukill

[posi]

Given the high volatility of these currencies and the broader market external factors, it is difficult to imagine that one user will be able to attract many friends to this area.

I don't see anything difficult there in terms of attracting or inviting friends or more people to the merit community since the only way to mine and get involve in the merit system is through invitations. Besides, the community and the merit currency will gain more pump and it won't be easily manipulate like others crypto. However, I could remember back in the early 2004 or 2005 when gmail was first implemented google also use the same service.

[AbhijoySarkar]

Here's a nice article that came out in finder.com recently: https://www.finder.com.au/meet-merit-the-invite-only-cryptocurrency-with-deliberate-friction

Unlike many other cryptocurrencies, "Merit doesn’t use wealth as a proxy for trustworthiness"

[c3tr4]

Currently 2 open invites for Merit Wallet Unlock Available.

Please be serious about mining the project and send in a request for a wallet/unlock using the link and joining our community.

https://wallet.merit.me/?invite=Cetra

[OLDARH]

I'm curious, how will the exchange rate change when it gets listed on a good exchange?
At the moment, with the current market the course can be very easy to manipulate, even with a very small amount of money.

[Marlonis Brandonis]

Pyramid Scam Alert!!! Stay Away!!!! I have taken a good look at this project, and it is surely a pyramid scam. It is in your best interest to grow your community, so you can earn these so called growth rewards. These growth rewards are based on your community score, where score is based on a combination of things like how many coins you have, how many people you have under your community, the age of the coins you have, etc.

The problem here is, there is only so many invitations available, and they are basically produced at a steady rate. This means the supply of invitations will always be limited and will be scarce. Right now, the early adopters of this coin have the majority of the invites, stocked up from the earliest mining days. So they are getting all of the new invitees, while people are in the trading channel trying to sell invites up to 10-30 merit each, which currently translate to $2.65 - $7.50 per invite at 4250 satoshi per merit.  Sure, these people claim it is easy to get invited, but to grow your community, it is a mission in it self.  You can try to invite people in various ways, but the easiest way would be to invite someone through the discord or telegram. However, there are the same people there, fighting over invitees, spamming their invite link over and over again, like clockwork, some even have bots running, so your chances to get a invite is basically 0.

When you do get a invitee, the chances of that person being a real active miner is low because it was most likely a spammer, trying to make as many fake accounts he or she can.  Why do they do this? because of the invite situation. 40% of new accounts eventually mine a invite over time, so people are spamming the discord bot and using posted links to generate new accounts. Many of these accounts are being made in order to farm invites. With invites only being generated at a steady rate and the spam account nonsense, how can anyone new build their community effectively without having to spend $2.65-$7.50 per invite, and without that invite getting wasted on a spammer?

This coin looks like a sh*t show, and stinks of pyramid scam. You basically can get invited for free from someone, but would then have to spend money in order to buy invites to grow your community. However, most of the time your invite will get wasted by a fake/spam account anyways. People say you can verify your invitee, but it is just as easy to log in from another computer and verify using a different username on discord or telegram.

Stay away, there are better projects out there.

You receive/mine your own invites on a steady rate. So nobody needs to buy some. Also a lot of people give invites for free (!) to their real community members because they want to grow a real community.

If people create fake identities/accounts on telegram/discord to receive invitation s it's hard to find out that they are fake. Do you have a suggestion to improve this?

Feel free to use my Username Alexis as invitation code. Please contact me in discord or telegram to accept you request