[ANN][GEMZ] GetGems - Social Messaging App That Pays - Live on Android, iOS, Web

[fulcare]

Too expensive.

Based on what ?
The advertising system is not yet launched.
We have no idea how the demand for tokens will grow.

Well lets say for argument all the token are sold and if we include all the 100m coins then 10,000 means the marketcap is 10,000 BTC straight of the bat. Its not exactly peanuts for an app we can't be sure will succeed.


Yes I know NXTTY is an unfair comparison but its currently trading at 2,000 BTC, they also thought they were going to get thousands of downloads. So far they didnt get past 5,000. Altcoins is a small world lets not get carried away.

[unusualfacts30]

Too expensive.

Based on what ?
The advertising system is not yet launched.
We have no idea how the demand for tokens will grow.

Well lets say for argument all the token are sold and if we include all the 100m coins then 10,000 means the marketcap is 10,000 BTC straight of the bat. Its not exactly peanuts for an app we can't be sure will succeed.


Yes I know NXTTY is an unfair comparison but its currently trading at 2,000 BTC.

Yes. Not to mention each NXT can be divided in smaller pieces. What's the point of creating 10 billion coins when each coin can be divided in smaller pieces. 100,000 coins would be sufficient and as demand increases those coins can divided in 100000000 pieces each and that automatically allows 10 billion people to use it.

Even whatsapp has only 600 million users.

[reRaise]

Yes. Not to mention each NXT can be divided in smaller pieces. What's the point of creating 10 billion coins when each coin can be divided in smaller pieces. 100,000 coins would be sufficient and as demand increases those coins can divided in 100000000 pieces each and that automatically allows 10 billion people to use it.

Even whatsapp has only 600 million users.

It's not 10 billion, it's 100 million dude, you got some shitty arguments

[unusualfacts30]

Yes. Not to mention each NXT can be divided in smaller pieces. What's the point of creating 10 billion coins when each coin can be divided in smaller pieces. 100,000 coins would be sufficient and as demand increases those coins can divided in 100000000 pieces each and that automatically allows 10 billion people to use it.

Even whatsapp has only 600 million users.

It's not 10 billion, it's 100 million dude, you got some shitty arguments

100 million x 100,000

do the math

[superresistant]

Too expensive.

Based on what ?
The advertising system is not yet launched.
We have no idea how the demand for tokens will grow.

Well lets say for argument all the token are sold and if we include all the 100m coins then 10,000 means the marketcap is 10,000 BTC straight of the bat. Its not exactly peanuts for an app we can't be sure will succeed.
Yes I know NXTTY is an unfair comparison but its currently trading at 2,000 BTC, they also thought they were going to get thousands of downloads. So far they didnt get past 5,000. Altcoins is a small world lets not get carried away.

So you think that the actual market cap is too big ? Again, based on a feeling ?
The NXTTY apps took way too long to develop, is bugged and has no features but sending encrypted messages.
Gems is on time, works great, got ambitious innovative features and just got funded by venture capitalist that previously funded apps like Waze and Onavo.
If a buggy non-working app like NXTTY has a marketcap of 566,227 USD... imagine the potential of Gems...

Not to mention each NXT can be divided in smaller pieces. What's the point of creating 10 billion coins when each coin can be divided in smaller pieces. 100,000 coins would be sufficient and as demand increases those coins can divided in 100000000 pieces each and that automatically allows 10 billion people to use it.
Even whatsapp has only 600 million users.

What is this non sense ?
You can divide anything in smaller units, it doesn't change the value of the whole so what's your point ?
Are you saying that you would like to change the Gems unit ?
Where was you when the devs asked our opinion about the units ?
This was the very first debate :

U blew it on the supply.

Supply can still be changed.
The goal of the PRE-ANN is to hear the community and make changes if needed before the release.
Can you explain why you think 10 billion is the wrong number and what number should we use? 

EDIT :

100 million x 100,000
do the math

You're too late mate. This was debated months ago.

[fulcare]

Too expensive.

Based on what ?
The advertising system is not yet launched.
We have no idea how the demand for tokens will grow.

Well lets say for argument all the token are sold and if we include all the 100m coins then 10,000 means the marketcap is 10,000 BTC straight of the bat. Its not exactly peanuts for an app we can't be sure will succeed.
Yes I know NXTTY is an unfair comparison but its currently trading at 2,000 BTC, they also thought they were going to get thousands of downloads. So far they didnt get past 5,000. Altcoins is a small world lets not get carried away.

So you think that the actual market cap is too big ? Again, based on a feeling ?
The NXTTY apps took way too long to develop, is bugged and has no features but sending encrypted messages.
Gems is on time, works great, got ambitious innovative features and just got funded by venture capitalist that previously funded apps like Waze and Onavo.
If a buggy non-working app like NXTTY has a marketcap of 566,227 USD... imagine the potential of Gems...

Not to mention each NXT can be divided in smaller pieces. What's the point of creating 10 billion coins when each coin can be divided in smaller pieces. 100,000 coins would be sufficient and as demand increases those coins can divided in 100000000 pieces each and that automatically allows 10 billion people to use it.
Even whatsapp has only 600 million users.

What is this non sense ?
You can divide anything in smaller units, it doesn't change the value of the whole so what's your point ?
Are you saying that you would like to change the Gems unit ?
Where was you when the devs asked our opinion about the units ?
This was the very first debate :

U blew it on the supply.

Supply can still be changed.
The goal of the PRE-ANN is to hear the community and make changes if needed before the release.
Can you explain why you think 10 billion is the wrong number and what number should we use?  

EDIT :

Yes. Not to mention each NXT can be divided in smaller pieces. What's the point of creating 10 billion coins when each coin can be divided in smaller pieces. 100,000 coins would be sufficient and as demand increases those coins can divided in 100000000 pieces each and that automatically allows 10 billion people to use it.
Even whatsapp has only 600 million users.

It's not 10 billion, it's 100 million dude, you got some shitty arguments

100 million x 100,000
do the math

You're too late mate. This was debated months ago.

I didn't say it was expensive, I said IF it doesn't get popular then its expensive.

Look the bottom line is this is a great product with great potential but none of that will mean shit including the advertising system if we don't get downloads. My main concern and it is valid is that the committed crypto world is very small maybe 5,000 tops. Once these guys have downloaded the app and sent to friends and family we are on your own in terms of pick up rate. Like I said NXTTY will all the backing of the NXT community didnt get past 5,000 downloads. That shows us this is a large mountain to climb.

I tried to get some friends to download the app the other day and mainly I got was oh I'll do it later and that they didn't think they would even use it. Lets be positive but lets also keep our feet on the ground. And if we get past even 50,000 downloads I'll be the first jumping up and down.  

[unusualfacts30]

Too expensive.

Based on what ?
The advertising system is not yet launched.
We have no idea how the demand for tokens will grow.

Well lets say for argument all the token are sold and if we include all the 100m coins then 10,000 means the marketcap is 10,000 BTC straight of the bat. Its not exactly peanuts for an app we can't be sure will succeed.
Yes I know NXTTY is an unfair comparison but its currently trading at 2,000 BTC, they also thought they were going to get thousands of downloads. So far they didnt get past 5,000. Altcoins is a small world lets not get carried away.

So you think that the actual market cap is too big ? Again, based on a feeling ?
The NXTTY apps took way too long to develop, is bugged and has no features but sending encrypted messages.
Gems is on time, works great, got ambitious innovative features and just got funded by venture capitalist that previously funded apps like Waze and Onavo.
If a buggy non-working app like NXTTY has a marketcap of 566,227 USD... imagine the potential of Gems...

Not to mention each NXT can be divided in smaller pieces. What's the point of creating 10 billion coins when each coin can be divided in smaller pieces. 100,000 coins would be sufficient and as demand increases those coins can divided in 100000000 pieces each and that automatically allows 10 billion people to use it.
Even whatsapp has only 600 million users.

What is this non sense ?
You can divide anything in smaller units, it doesn't change the value of the whole so what's your point ?
Are you saying that you would like to change the Gems unit ?
Where was you when the devs asked our opinion about the units ?
This was the very first debate :

U blew it on the supply.

Supply can still be changed.
The goal of the PRE-ANN is to hear the community and make changes if needed before the release.
Can you explain why you think 10 billion is the wrong number and what number should we use?  

EDIT :

Yes. Not to mention each NXT can be divided in smaller pieces. What's the point of creating 10 billion coins when each coin can be divided in smaller pieces. 100,000 coins would be sufficient and as demand increases those coins can divided in 100000000 pieces each and that automatically allows 10 billion people to use it.
Even whatsapp has only 600 million users.

It's not 10 billion, it's 100 million dude, you got some shitty arguments

100 million x 100,000
do the math

You're too late mate. This was debated months ago.

Look at coinmarketcap and notice what happened to altcoins that had same amount of supply. It doesn't matter what innovation is behind it.

I hate the fact that IPO decreased  amount of coins you can buy. With 10 billion coins what's the need to decrease the amount?. It's going to be nightmare for anyone who purchased it late. 90% of people who bought it early ..they bought it to make money off it and if trading starts at 10,000 coins/BTC they would dump to make profit as soon as trading starts. That would cause panic and it'll crash in no time.

[fulcare]

This is my concern also, ive seen this happen to much with new IPO's. What I fear is the negative backlash that comes with this. Though I see it personally as an opportunity to load up more. Don't make me say I told you so.

[superresistant]

This is my concern also, ive seen this happen to much with new IPO's. What I fear is the negative backlash that comes with this. Though I see it personally as an opportunity to load up more. Don't make me say I told you so.

We agree on that. It is a free market. A big panic is often a great opportunity.
We're not gonna discuss the rules and implications of investment and trading, this has nothing to do with Gems.

Look at coinmarketcap and notice what happened to altcoins that had same amount of supply. It doesn't matter what innovation is behind it.
I hate the fact that IPO decreased  amount of coins you can buy. With 10 billion coins what's the need to decrease the amount?. It's going to be nightmare for anyone who purchased it late. 90% of people who bought it early ..they bought it to make money off it and if trading starts at 10,000 coins/BTC they would dump to make profit as soon as trading starts. That would cause panic and it'll crash in no time.

You don't need to quote everything every time.

[reRaise]

they bought it to make money off it

Are you serious, isn't that the point of investments in general? i would suggest for you not to get involved in any investment tbh.

[unusualfacts30]

they bought it to make money off it

Are you serious, isn't that the point of investments in general? i would suggest for you not to get involved in any investment tbh.

Yes but that makes it scary for late comers like myself. I would wait till it dumps before investing.

[superresistant]

they bought it to make money off it

Are you serious, isn't that the point of investments in general? i would suggest for you not to get involved in any investment tbh.

Yes but that makes it scary for late comers like myself. I would wait till it dumps before investing.

No one is asking you to invest. In fact, everyone would be glad if you don't.
If you believe it will crash then wait for the crash.

In general I invest 50% early and 50% later if a crash happen but it is only my way of investing.
Anyone should know a little about investment before investing but that's out of topic here.

[Netnox]

Thank you everyone for the support, the additional funding will help us scale our company faster which is necessary since the mainstream instant messaging market is very competitive.

MagmaVC, ”We are looking for disruption, differentiation, distribution and a great winning team. We felt Gems has very good characteristics in all four parameters. Chat and value transfer is a growing trend.”: http://www.coindesk.com/bitcoin-messenger-app-getgems-raises-400k-waze-investor/

 

Seems like MagmaVC has been pretty successful in their investment with Waze which Google bought for $1.3B. To me a VC of such league being interested in Getgems definitely raises confidence in this product. Looking forward to see Gems grow, well done.

Btw Koinify has done an awesome job, for sure made it possible for people to select which projects are legit.

[Netnox]

I introduced several friends and acquaintances to Gems at the moment. As a student, I notice it works especially well when being at a student party/drinks, when people are already a bit tipsy and you explain a few of them they can earn money with an 'improved version of whatsapp'. As soon as a few download it, more people become curious and also want it.

Another strategy that I want to apply, is to replace all my groupchats from whatsapp, to Gems, by making them all download the App and decide to do the communication through the new groupchat. Unfortunately we will have to wait for the iOS release to be able to do this, since among university students the Apple market share is relatively high.

@ Daniel Peled

I have one more comment: when helping these students to download the App, I noticed that my name was not automatically precompleted in the registration process. Since I was standing next to them, I could supervise and ensure they were filling in my name, but if you invite people over whatsapp and you are not with them at that particular moment, they might skip that step.

I thought it would be pre-completed? Are you guys aware of this possible flaw?

For the rest, congratulations with the funding from Magma VC! You should try to roll this out asap, because it would not surprise me if Facebook and Whatsapp are as we speak already working on similar features for Whatsapp, besides competition from other start-ups.

I'm waiting for the iOS, but i believe you mean this part right?

This process is easy because the inviter’s username is usually prefilled, since it comes attached to the invitation link for downloading the Gems app that users can share with their friends.

Maybe this feature is not running yet, or since it's the first release there might be some bugs. I'll send this to gems twitter account to let them know.

[bitranger]

Thank you everyone for the support, the additional funding will help us scale our company faster which is necessary since the mainstream instant messaging market is very competitive.

MagmaVC, ”We are looking for disruption, differentiation, distribution and a great winning team. We felt Gems has very good characteristics in all four parameters. Chat and value transfer is a growing trend.”: http://www.coindesk.com/bitcoin-messenger-app-getgems-raises-400k-waze-investor/

 

Seems like MagmaVC has been pretty successful in their investment with Waze which Google bought for $1.3B. To me a VC of such league being interested in Getgems definitely raises confidence in this product. Looking forward to see Gems grow, well done.

Btw Koinify has done an awesome job, for sure made it possible for people to select which projects are legit.

investing 400K isn't even 1/2 of 1% of their total investments..and a typical VC batting average is one in a thousand
so i don't think they are betting the farm on gems..sheesh..also 10 billion total gems could be the thing that kills it in the end..also after it opens and the big dump comes from early investors all the cheerleaders will come out and say

WE always said this was a LONGTERM investment and expect it to rise again after a year or so..JMHO..

Disclaimer I am a nxtty LONGTERM holder..lol

Ps. https://play.google.com/store/apps/details?id=org.getgemsmessenger.app
on google play 5 days and only 36 reviews and 100 downloads is not that great imo

[clochard]

Maybe this feature is not running yet, or since it's the first release there might be some bugs. I'll send this to gems twitter account to let them know.

Cool! Thanks

[unusualfacts30]

they bought it to make money off it

Are you serious, isn't that the point of investments in general? i would suggest for you not to get involved in any investment tbh.

Yes but that makes it scary for late comers like myself. I would wait till it dumps before investing.

No one is asking you to invest. In fact, everyone would be glad if you don't.
If you believe it will crash then wait for the crash.

In general I invest 50% early and 50% later if a crash happen but it is only my way of investing.
Anyone should know a little about investment before investing but that's out of topic here.

If a crash happens?

lol

with 10 billion coins and the way ICO was set up this project is heading for nothing but crash. My buy orders will be ready at 100 sat.

[superresistant]

If a crash happens?
lol
letmefudfudfud

[reRaise]

with 10 billion coins

There are 100m not 10b

Nobody should take this guy serious, the guy has no clue what he's doing

It seems like Josh is dumping his bitcoins and accumulating XPY.

XPY replacing BTC very soon

I bought xpy at .028 and it didn't move one sat up as soon as my buy order went through.

I sold xpy at .0096 because it kept falling for hours and look at price now it just hit .014

I'm having shit luck with crypto/bitcoin for last 8 months.

[vytasz7]

I am trying to buy some gems from Koinify ,but when i try to send btc from my multibit wallet to koinify , i am getting validation error (The address "323vjidVRfsNDFGbHWoVyN3RuXwANy7hrc" is not a valid bitcoin address.)
What wrong i am doing?