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

[sdersdf2]

What's special about this coin - what sets it apart from all the other coins out there?

[peled1986]

What's special about this coin - what sets it apart from all the other coins out there?

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.

[devphp]

When will you release a public beta to test?

[deliciousowl]

Would be great if you guys could have a thread here: https://forums.counterparty.co/

I know it doesn't get much activity, but there's no reason it shouldn't 

[peled1986]

Would be great if you guys could have a thread here: https://forums.counterparty.co/
I know it doesn't get much activity, but there's no reason it shouldn't 

Done: https://forums.counterparty.co/index.php/topic,549.0.html (Thanks for Advice)

[peled1986]

When will you release a public beta to test?

estimated release date of the Gems app will be announced before the begining of the public sell.

[weex]

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).

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.

Please please please...no IPO/pre-sell!

Instead, set a release schedule for the tokens and a relative value on each action you wish participants to do. Then with each release period (weekly for example), you calculate each participants share of the new coins based on their contribution. By having a reward schedule that starts higher in the future (e.g. 10,000,000 per week and halves every two years) you can build in the same early adopter incentive as Bitcoin and I could trust it. For an example of this being done correctly now, see LTBcoin.

There's no way I would touch an IPO given how many scams there have been and if you do get people from your current process, they're not going to be the type that stick around. If you wish this to be successful long-term, you'll follow the advice above and if you need to raise money for your initial team, do that via a crowdsale that is for some perks on the network (but not for equity in the new tokens or social network).

[deliciousowl]

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).

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.

Please please please...no IPO/pre-sell!

Instead, set a release schedule for the tokens and a relative value on each action you wish participants to do. Then with each release period (weekly for example), you calculate each participants share of the new coins based on their contribution. By having a reward schedule that starts higher in the future (e.g. 10,000,000 per week and halves every two years) you can build in the same early adopter incentive as Bitcoin and I could trust it. For an example of this being done correctly now, see LTBcoin.

There's no way I would touch an IPO given how many scams there have been and if you do get people from your current process, they're not going to be the type that stick around. If you wish this to be successful long-term, you'll follow the advice above and if you need to raise money for your initial team, do that via a crowdsale that is for some perks on the network (but not for equity in the new tokens or social network).

+1 This is good advice

[Nxtblg]

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

I wouldn't sweat that too much. With respect to regular users of social-networking tools, women tend to be the early adopters. Case in point: Pinterest.

[Nxtblg]

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

Is Nxttycoin closed source?

[Nxtblg]

yes - on registration you the app automatically creates a passphrase for you.
This passphrase lets you access your wallet and the funds it contains on counterwallet (https://counterwallet.co/)

Accessing your wallet inside the app will be protected by 4 digits password (much simpler than requiring you to enter the ("long") passphrase.

(more info about counterwallet web-wallet @ https://wiki.counterparty.co/w/Counterwallet).

That's nice and convenient, but it sounds like the "real" passphrase is embedded in the storage somewhere. What safeguards are in place to prevent someone from cracking the real passphrase and using good 'ol brute force to crack the PIN?

[Ola]

What are your unique value propositions? you know the whole network effect and switching costs...for example why would people use you over whatsapp? is your app decentralized? or just encrypted zero knowledge approach with centralized storage?

Edit..also, i think you'd prob benefit more from nxt's technology and its rapid but friendly community support...just get a whif of the alien technology to come : http://www.nxttechnologytree.com/
 and you know the aboundance of qualified core devs and insanely brilliants infrastructure ones ones like jl777 from skynet Supernet

[rwfreshmore]

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).

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.

Please please please...no IPO/pre-sell!

Instead, set a release schedule for the tokens and a relative value on each action you wish participants to do. Then with each release period (weekly for example), you calculate each participants share of the new coins based on their contribution. By having a reward schedule that starts higher in the future (e.g. 10,000,000 per week and halves every two years) you can build in the same early adopter incentive as Bitcoin and I could trust it. For an example of this being done correctly now, see LTBcoin.

There's no way I would touch an IPO given how many scams there have been and if you do get people from your current process, they're not going to be the type that stick around. If you wish this to be successful long-term, you'll follow the advice above and if you need to raise money for your initial team, do that via a crowdsale that is for some perks on the network (but not for equity in the new tokens or social network).

+1 This is good advice

I also agree. I am working on a monetized social network built on CP as well (likely DogeParty now). While the IPO might help with the initial funding it will not promote activity in your social network. Also, activity in the social network is the ONLY thing that will give GEMS ANY value whatsoever. So it would be a great idea to figure out how to promote activity first to build actual value. Early investors can turn cranky real fast while their GEMS may initially lose value. A bunch of vocal disgruntled "investors" will not help with early adoption. Figure out other ways users can earn gems all linked to activity.

GEMS is a first glimpse at the future of social networks. Where activity and contribution gets you paid. Where advertisers pay users DIRECTLY. No doubt this is the future. Good job and best of luck to GEMS!

[rwfreshmore]

What are your unique value propositions? you know the whole network effect and switching costs...for example why would people use you over whatsapp? is your app decentralized? or just encrypted zero knowledge approach with centralized storage?

Edit..also, i think you'd prob benefit more from nxt's technology and its rapid but friendly community support...just get a whif of the alien technology to come : http://www.nxttechnologytree.com/
 and you know the aboundance of qualified core devs and insanely brilliants infrastructure ones ones like jl777 from skynet Supernet

The unique value proposition is activity == capitalization. The value you generate by using the network is yours and increases as use of the network increases. That value is directly transferable/exchangeable to other currencies.

Your activity in the network is generating ownership over the value you've "invested". This doesn't exist yet.

Imagine each upvote on reddit was equal to one dogecoin.. Or a like on facebook gave you 1/10000000000000th of a facebook stock. Imagine each ad you see in google search results paid you a portion of the revenue paid to google by the advertiser.

you own none of the value you create for whatsapp by using whatsapp.

[provenceday]

when will the public ipo start?

will watch this.

hope this app be popular soon.

[alrose]

watching

[Ola]

What are your unique value propositions? you know the whole network effect and switching costs...for example why would people use you over whatsapp? is your app decentralized? or just encrypted zero knowledge approach with centralized storage?

Edit..also, i think you'd prob benefit more from nxt's technology and its rapid but friendly community support...just get a whif of the alien technology to come : http://www.nxttechnologytree.com/
 and you know the aboundance of qualified core devs and insanely brilliants infrastructure ones ones like jl777 from skynet Supernet

The unique value proposition is activity == capitalization. The value you generate by using the network is yours and increases as use of the network increases. That value is directly transferable/exchangeable to other currencies.

Your activity in the network is generating ownership over the value you've "invested". This doesn't exist yet.

Imagine each upvote on reddit was equal to one dogecoin.. Or a like on facebook gave you 1/10000000000000th of a facebook stock. Imagine each ad you see in google search results paid you a portion of the revenue paid to google by the advertiser.

you own none of the value you create for whatsapp by using whatsapp.

cool concept like the maidsafe and storj models, it should work out nicely...Now privacy in this day and age shouldn't be an option its a requirement. I wonder if this app addresses that.

[bitwhizz]

watching

[fiftyseven]

What will users do with their GEMS other than just dump them? Where's the utility?

[sparta_cuss]

What will users do with their GEMS other than just dump them? Where's the utility?

My understanding is that anyone who wants to advertise (send unsolicited content or messages) must pay in GEMS. So advertisers will accumulate this in-application currency in order to send ads. This is what gives GEMS their value.