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

[Sellman]

Gems relies on an IPO for initial distribution of the supply. The total amount of Gems in existence is 10'000'000'000 (10 Billion).

FAIL!

[SikoSoft]

"Gems is The First Social Currency Network."

lolololololololollllllllllllllll bwahahahahahahaha

I can't even remember how many coins have claimed to be the "social currency".

[a447513372]

"Gems is The First Social Currency Network."

lolololololololollllllllllllllll bwahahahahahahaha

I can't even remember how many coins have claimed to be the "social currency".

  they have nothing new to fud people

[peled1986]

"Gems is The First Social Currency Network."
lolololololololollllllllllllllll bwahahahahahahaha
I can't even remember how many coins have claimed to be the "social currency".

they have nothing new to fud people

Not trying to fud anyone.

We are building an app that is very similar to WhatsApp that everyone knows and is used to but with 3 main advantages:
(1) The app rewards the users - you get rewarded with gems for inviting more people to use the app and also get paid with gems for accepting unsolicited messages and sharing more information.
(2) you can be as anonymous as you desire.
(3) the app is going to function also as an easy to use wallet - the username is an alias to the gems address, making sending & receiving gems and bitcoins between users as easy as possible.  Sending gems/bitcoins will be as simple as sending an SMS to your friend.

We think that these 3 points will make it a lot easier for new non techie people to join the cryptocurrency revolution.

In our opinion the main attraction to the currency will be driven by 1) user growth and 2) text usage.

Unlike most coin Gems are backed up by real value which is the users. Advertiser need to buy gems in the exchanges in order to send unsolicited messages to the network - so there will always be a demand to buy gems in the market.

If users accept to receive unsolicited messages they will be reward with gems. if users give more information about themselves they will be reward with gems. but if you want to stay anonymous and not receive any “spam” you can do that also.

We think this model is a good solution to the "spam problem" every social network has - would love some feedback/suggestion about the "Gems Pay For Social Reach" model?

[flis1986]

Great idea!
I'm looking forward to hear more about this promising project.

[MorAltsPlease]

100% IPO, no POW?  When launch?  If POW, what algo?

100% IPO, no POW? - 10000 million (10 billion) GEMS is the total currency supply in the GENESIS BLOCK . Eventual supply is achieved as follows: 4,500 million Gems distributed to stakeholders; 4,500 million Gems distributed as daily Airdrop rewards during ~5 years after launch; 500 million Gems reserved for bonus block rewards, promotion, marketing, bounties; 500 million Gems + IPOs will fund the network R&D and operation costs.

When launch?  - Public sell will start in September.

what algo? - The gems currency is powered by Counterparty. Every GEMS user automatically gets his own wallet, protected by the passphrase chosen on registration. The social network username is an alias to the gems address, making sending & receiving gems and bitcoins between users as easy as possible.

So basically there is 55% pre-mine?

[deliciousowl]

At 10 billion units, you could make them indivisible. But I think a lower amount would be preferrable.

I'm interested to see how this project will progress, cheers!

[peled1986]

100% IPO, no POW?  When launch?  If POW, what algo?

100% IPO, no POW? - 10000 million (10 billion) GEMS is the total currency supply in the GENESIS BLOCK . Eventual supply is achieved as follows: 4,500 million Gems distributed to stakeholders; 4,500 million Gems distributed as daily Airdrop rewards during ~5 years after launch; 500 million Gems reserved for bonus block rewards, promotion, marketing, bounties; 500 million Gems + IPOs will fund the network R&D and operation costs.

When launch?  - Public sell will start in September.

what algo? - The gems currency is powered by Counterparty. Every GEMS user automatically gets his own wallet, protected by the passphrase chosen on registration. The social network username is an alias to the gems address, making sending & receiving gems and bitcoins between users as easy as possible.

So basically there is 55% pre-mine?

No.

Right now the plan is to have a 5% stake for dev team which will be vested over time. We want to able to pay for development and bounties also in Gems.

We are happy to hear more suggestions about this subject, accountability and transparency are important for development.

[YNWA2806]

The idea of coin compensation based on messages and adding friends sound groundbreaking!
 will the forging be calculated the same?

can you elaborate on your team and algo?

Keeping my eye on this...I've got a good hunch!

[deliciousowl]

I took the time to read everything on the website (http://getgems.org/), and on second thought this sounds really fascinating actually. Rewarding people for inviting new users using exodus funds is a great idea.

Maybe I'll finally have the chance to make a social media account. (I avoid FB because of most of the reasons explained here.)

[KenR]

Good idea, but... 10 billion 
Good luck dev!

[peled1986]

Good idea, but... 10 billion  
Good luck dev!

Like I all ready said Supply can still be changed: https://bitcointalk.org/index.php?topic=758004.msg8546683#msg8546683

what do you think is the "magic number"?
do you think ethereum distribution model is good?

It is important for us to reward early adopters  in order to quickly build a community, but at the same time to be able to reward new users that will join the Gems network over the coming years.  

[peled1986]

Hybrid or Full-pos?

Gems is powered by Counterparty and is secured by the Bitcoin network, therefore we don't need to use Hybrid or Full-pos models. Instead, Gems are distributed to users who help build the platform (by inviting new user and being active) according to a fixed schedule. After a period of 5 years, all Gems will be distributed and no new gems will be created.

p.s: Because Gems is built on top Counterparty, Gems addresses are exactly the same as Bitcoin addresses. Thus promoting gems will also help promote bitcoin and the inside APP wallet will support both currencies.

[Muhammed Zakir]

100% IPO, no POW?  When launch?  If POW, what algo?

100% IPO, no POW? - 10000 million (10 billion) GEMS is the total currency supply in the GENESIS BLOCK . Eventual supply is achieved as follows: 4,500 million Gems distributed to stakeholders; 4,500 million Gems distributed as daily Airdrop rewards during ~5 years after launch; 500 million Gems reserved for bonus block rewards, promotion, marketing, bounties; 500 million Gems + IPOs will fund the network R&D and operation costs.

When launch?  - Public sell will start in September.

what algo? - The gems currency is powered by Counterparty. Every GEMS user automatically gets his own wallet, protected by the passphrase chosen on registration. The social network username is an alias to the gems address, making sending & receiving gems and bitcoins between users as easy as possible.

Looks great! I will be watching! So what's the goal on crowd-sale?

~~MZ~~

[Puberty]

Seems like an interesting idea. Hopefully this won't end up like Zurker which was a social network owned by its users which imploded earlier this year.

[chadsomenezz]

ok.. so when will be the official lunch ?... by the way. so i am going to receive free gems every time i invite someone right?. and is the person i invited to join also going to receive some free gems ? maybe doing that will attract more people to join. also. is this only for android and ios device?

[peled1986]

by the way. so i am going to receive free gems every time i invite someone right?. and is the person i invited to join also going to receive some free gems ? maybe doing that will attract more people to join.

We are thinking about this point. would like to hear if the community thinks we should reward "both sides"?

ok.. so when will be the official lunch ? also. is this only for android and ios device?

Public sell will start in September.
Official lunch will be after the public sell ends.
Right now we are working hard on finishing the iOS app. To “duplicate” it and make the Adriod app will take much less time. (Microsoft's app wont be in development in the near future)

What can I do until than?
Meanwhile If you would like support the Gems project and public sell, you can do the following:
1. Follow our Twitter and retweet updates.
2. Sign up for email updates about Gems.
3. Promote the Gems project in any way you can  

[peled1986]

Seems like an interesting idea. Hopefully this won't end up like Zurker which was a social network owned by its users which imploded earlier this year.

I don't know much about Zurker but reading a bit now seems that their business model and distribution was flawed.

I think using cryptocurrency is the only way to build decentralized social network that rewards its users. Bitcoin revolution reclaimed currency from the control of traditional establishments. It's time we use this innovative technology to do the same for social networks.

[BohemianStalker]

sorry if it was already answered, but if I may ask:

Will there be minign goin on? and if yes could you please update main post iwth it? Algorythm, how many coins, time, block rewards etc..

[peled1986]

sorry if it was already answered, but if I may ask:
Will there be minign goin on? and if yes could you please update main post iwth it? Algorythm, how many coins, time, block rewards etc..

You can read the answer here: https://bitcointalk.org/index.php?topic=758004.msg8553481#msg8553481
If you are not familiar with counterparty feel free to ask more question or read more about it here: http://counterparty.co/