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

[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..

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/

thx, ill keep close look up .)

[JakeThePanda]

So you are going to control half the supply over a 5 year period and it won't be on Apple because you have to use your real name?

[UrsaMajorisBeta]

Legal compliances turned Zurker down, so this one as it's supposed to be decentralized by nature won't be affected by those legal skirmish.
What puzzles me is that Gems is planned to be buildt on top of bitcoin network, which is freakingly slow for instant messaging. I think that's the main flaw in the design.

[deliciousowl]

Legal compliances turned Zurker down, so this one as it's supposed to be decentralized by nature won't be affected by those legal skirmish.
What puzzles me is that Gems is planned to be buildt on top of bitcoin network, which is freakingly slow for instant messaging. I think that's the main flaw in the design.

I'm not sure if this is the case,  or how the system works. However:

With a decent internet connection and network propagation, zero confirmation transactions take less time than the ability for a human to react.

[canth]

Other not inconsiderable issues aside, is it me or is the name and colors scheme a bit too feminine? Face it, your initial audience is 95% guys given the current makeup of the crytpo scene. I think that you'll face a hurdle just getting dudes interested in putting a Gem app on their phone. Reminds me too much of the other Jem.

http://blogs-images.forbes.com/scottmendelson/files/2014/03/o_jem.jpg

[cyberhacker]

how to solve bloating issue?  slow confirmation?

[deliciousowl]

Other not inconsiderable issues aside, is it me or is the name and colors scheme a bit too feminine? Face it, your initial audience is 95% guys given the current makeup of the crytpo scene. I think that you'll face a hurdle just getting dudes interested in putting a Gem app on their phone. Reminds me too much of the other Jem.

http://blogs-images.forbes.com/scottmendelson/files/2014/03/o_jem.jpg

But dude, think of all the crypto babes you could get

[canth]

Other not inconsiderable issues aside, is it me or is the name and colors scheme a bit too feminine? Face it, your initial audience is 95% guys given the current makeup of the crytpo scene. I think that you'll face a hurdle just getting dudes interested in putting a Gem app on their phone. Reminds me too much of the other Jem.

http://blogs-images.forbes.com/scottmendelson/files/2014/03/o_jem.jpg

But dude, think of all the crypto babes you could get

Heh. Stephanie Murphy, Perianne Boring and...is that chick from Star Wars that fires the ion cannon into crypto?

[peled1986]

Other not inconsiderable issues aside, is it me or is the name and colors scheme a bit too feminine? Face it, your initial audience is 95% guys given the current makeup of the crytpo scene. I think that you'll face a hurdle just getting dudes interested in putting a Gem app on their phone. Reminds me too much of the other Jem.

http://blogs-images.forbes.com/scottmendelson/files/2014/03/o_jem.jpg

But dude, think of all the crypto babes you could get

Heh. Stephanie Murphy, Perianne Boring and...is that chick from Star Wars that fires the ion cannon into crypto?

thats what happens when you a have a female designer 
but don't forget that one of our main goals is to bring more females to the crytpo scene.

[peled1986]

how to solve bloating issue?  slow confirmation?

we won’t be using the bitcoin network for messaging (at list not in the beginning). we are using azure notification hub for the texting and bitcoin blockchain to reward gems. Meaning the reward model is decentralized.  

Note that every user can chose to be totally anonymous and to have all of his text messages encrypted and self-destructed.

In the future we are thinking about using public key cryptography. Encrypting messages from a user, to someone else using the recipients public key,  that way its tied to the GEM asset and nobody can spy on it.

[tobeaj2mer01]

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.

IPO based on total amount BTC is very good, I like it. 10 Billion or 100 Billion are both OK.

[sparta_cuss]

Unlike most coin Gems are backed up by real value which is the users thus advertiser will be the main reason to the drive the value of gems higher. 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.

Can you say more about this? Here is my guess on how it works, just based on the small amount of detail so far. (That's not a criticism; I know the project is still under development and details are being worked out.)

Scenario: Investors will buy Gems because they want to see the value of their investment go up. In other words they want to see that the Gem they bought at $1 will be worth $2 in a month, say. Lets say that one Gem allows an advertiser to send 10 unsolicited messages. It costs $1 at first, and $2 a month later to send that same 10 messages. So advertisers will have to spend more and more money as Gems goes up in value. One alternative is that you adjust the Gem-to-unsolicited messages ratio according to market cap or Gem price so that advertisers always pay the same $ for the same number of messages they want to send.

Is this how it works, or some other way?

[C2]

That is a very interesting concept.

[robinf]

Hi Dev,

You seem to forget Nxttycoin. It is also based on the social network software, and appeared earlier and more mature.

So, Gems is not the first such coins.

Can you explain what are the advantages of Gems is it?

Nxttycoin:
https://bitcointalk.org/index.php?topic=735878.0

In addition, Gems, too much monetary aggregates, pre-sale ratio is too low.

[peled1986]

Can you explain what are the advantages of Gems is it?
Nxtty:
https://bitcointalk.org/index.php?topic=735878.0

Thank you for sharing the info about Nxtty. After reading a little bit about Nxtty I think Gems main advantages are the following:

1) Gems reward system is built on top of the bitcoin blockchain, thus the Gems wallet inside the app will support not only easy transfer of Gems but also bitcoins. 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. One of our main goals is to bring bitcoin to the masses. We think this goal is important to everyone in the crypto community and will help the Gems network to be successful.

My guess is that Nxtty will be driven mostly by nxt supporters - what do you think?

2) Gems reward system is totally different than Nxtty. Nxtty plans to give 2500 Nxttycoin for the first 100k users, plus Nxtty rewards users with a 5% interest every month. Gems has a much more viral marketing model. We know that in order for a messaging app to grow and reach a critical mass, the Gems network needs to grow quickly and incentives users to invite their friends. Thats why Gems will be rewarded for introducing new users to the network. Gems also reward users for being contributing to the Gems social network by texting and in other ways that will be published.

3) I think that Gems economic model is more carefully thought out than Nxtty. Google and Facebook base 99% of their revenue on targeted advertising. Networks monetize users by exposing them to content. With Gems: Sending content between friends is free but sending unsolicited content or advertisements costs Gems. This economic model achieve 3 goals: Stopping spam. Controlling ads. Creating real demand for Gems in the market. In our opinion after studying other successful messaging apps the main attraction to the currency will be driven by 1) user growth and 2) text usage. As these two figures grow the demand to buy Gems in the market by advertisers will grow.

The way this works is:
- Advertisements and unsolicited messages are opt-out.
- Advertisers must trade and buy Gems in order to operate.
- Spam kept under control since unsolicited messages aren't free.
- Advertisers pay you for the right to contact you.
- Gems revenue is recycled back into the network as future air drops.

It's important to note that Gems users have a choice, if users want to stay anonymous (not expose any of their info, "self destruct messages" etc) or they wish to not receive any “spam” they can do that. If users accept to receive unsolicited messages or to share more info (in order to get better targeted advertising) they can choose to and will be rewarded with Gems paid by the advertisers.

What is Nxtty economic model? 5% interest makes the supply bigger, how do they plan to make the demand bigger?

4) There are two ways to register to the Gems app. The "anonymous route" (register will be similar to skype) and the "normal route" (register will be similar to WhatsApp). Each route has its advantages, crypto users I am sure will prefer to stay completely anonymous and will have an easy way to contact their anonymous friends (much easier than bitcointalk PMs I think ) but they will have to add them one by one. While other users that don't mind exposing their phone number to their friends, will help the Gems network grow much faster because the app will have access to their contact list (like in WhatsApp) and thus connecting them to friends that are all ready using the app will be done instantly.

How is Nxtty planing to grow their network?


There are more smaller advantages I can think that Gems has over Nxtty but the above are the main ones.

In addition, Gems, too much monetary aggregates, pre-sale ratio is too low.

More details about the pre-sale will be exposed soon, we are thinking hard on ways to reward early adopters. It is very important for us to quickly build a strong community. If the community has good ideas we would love to hear them!

Hi Dev,
You seem to forget Nxtty. It is also based on the social network software, and appeared earlier and more mature.
So, Gems is not the first such coins.

I don't know when Nxtty devs started working on Nxtty but you can be sure that advertising the BTT thread is not when we started working on Gems. Nxtty is a very interesting project and we wish them "good luck" and much success!

[robinf]

DEV, Thank you for your answer！

1) Currently, Nxttycoin mainly supported by NXT holder. Because Nxttycoin as one of the assets NXT AE. But Nxttycoin planned landing other trading platforms.
Gems reward system is built on top of the bitcoin blockchain, So, whether gems blockchain will continue to expand? Whether it will cause the software is too bloated?

2)Nxttycoin is stake, which is the stake of Nxtty software. Issue nxttycoin just to stake a better exchange. It is not used in the software. This is the biggest difference between it and gems.
Excessive incentives can not increase loyal users. They just to get gems, you know.

3)Nxttycoin profit model is still unclear, there is no more news announcement. Sticker store or advertising or be acquired?

4)Because Nxttycoin not based on block chain, so Nxtty can transmit audio and video, like Skype or Line. This is a great advantage.

Anyway, who is easy to use who will win, who can attract users who will win.

Waiting for your more details.

[peled1986]

DEV, Thank you for your answer！

1) Currently, Nxttycoin mainly supported by NXT holder. Because Nxttycoin as one of the assets NXT AE. But Nxttycoin planned landing other trading platforms.
Gems reward system is built on top of the bitcoin blockchain, So, whether gems blockchain will continue to expand? Whether it will cause the software is too bloated?

2)Nxttycoin is stake, which is the stake of Nxtty software. Issue nxttycoin just to stake a better exchange. It is not used in the software. This is the biggest difference between it and gems.
Excessive incentives can not increase loyal users. They just to get gems, you know.

3)Nxttycoin profit model is still unclear, there is no more news announcement. Sticker store or advertising or be acquired?

4)Because Nxttycoin not based on block chain, so Nxtty can transmit audio and video, like Skype or Line. This is a great advantage.

Anyway, who is easy to use who will win, who can attract users who will win.

Waiting for your more details.

1) We use the bitcoin blockchain only for our gems reward model and wallet. Meaning the ownership model is decentralized but there is no risk to bloat the bitcoin blockchain.

2) I disagree with you on this point. I think its important to incentives users to do things that are important for the network (for example bitcoin block reward incentives miners to "protect" the blockchain). Why do you think Nxttycoin has a 5% monthly interest? it wants to incentives users to hold Nxttycoin and not "dump" them on the market.

3) I think its important you ask Nxttycoin devs what is their economic model in to increase the demand for Nxttycoin.

4) Gems does not use the bitcoin network for messaging (at list not in the beginning). we are using azure notification hub, so sending texting audio and video isn't a problem.

5) Gems app will be very similar to WhatsApp so people will feel very comfortable to use it for day one.

p.s: I think Gems and Nxttycoin can both win 

[robinf]

DEV, Thank you for your answer！

1) Currently, Nxttycoin mainly supported by NXT holder. Because Nxttycoin as one of the assets NXT AE. But Nxttycoin planned landing other trading platforms.
Gems reward system is built on top of the bitcoin blockchain, So, whether gems blockchain will continue to expand? Whether it will cause the software is too bloated?

2)Nxttycoin is stake, which is the stake of Nxtty software. Issue nxttycoin just to stake a better exchange. It is not used in the software. This is the biggest difference between it and gems.
Excessive incentives can not increase loyal users. They just to get gems, you know.

3)Nxttycoin profit model is still unclear, there is no more news announcement. Sticker store or advertising or be acquired?

4)Because Nxttycoin not based on block chain, so Nxtty can transmit audio and video, like Skype or Line. This is a great advantage.

Anyway, who is easy to use who will win, who can attract users who will win.

Waiting for your more details.

1) We use the bitcoin blockchain only for our gems reward model and wallet. Meaning the ownership model is decentralized but there is no risk to bloat the bitcoin blockchain.

2) I disagree with you on this point. I think its important to incentives users to do things that are important for the network (for example bitcoin block reward incentives miners to "protect" the blockchain). Why do you think Nxttycoin has a 5% monthly interest? it wants to incentives users to hold Nxttycoin and not "dump" them on the market.

3) I think its important you ask Nxttycoin devs what is their economic model in to increase the demand for Nxttycoin.

4) Gems does not use the bitcoin network for messaging (at list not in the beginning). we are using azure notification hub, so sending texting audio and video isn't a problem.

5) Gems app will be very similar to WhatsApp so people will feel very comfortable to use it for day one.

p.s: I think Gems and Nxttycoin can both win 

Very nice, looking forward to the sale and roadmap.

[-Greed-]

This project looks extremely promising.
 
Can you tell me more about the app? Is it decentralized? How are going to deal with blockchain bloating? I will be glad to hear any technical details.

[devphp]

In what form will IPO take place, will it be on Counterparty platform?