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

[Nxtblg]

this is not an "ipo" first of all.  an "ipo" happens when stock equity is offered to the public, generally after it has been offered to investors, employees and founders. before that there may be a seed round, an A round, B, C, D, F, G and H rounds or series. Warrants, preferences, etc. 

I'm guessing this is sort of like a sale of services or goods with future delivery...

Good point. The reason why the "IPO" term stuck back in tha day was that it was used as a go-to metaphor to make the pre-sale process intuitive. Legally, the Gems pre-sale is no more an IPO than a smile is a sunny day. 

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[Super T]

this is not an "ipo" first of all.  an "ipo" happens when stock equity is offered to the public, generally after it has been offered to investors, employees and founders. before that there may be a seed round, an A round, B, C, D, F, G and H rounds or series. Warrants, preferences, etc. 

I'm guessing this is sort of like a sale of services or goods with future delivery...

Good point. The reason why the "IPO" term stuck back in tha day was that it was used as a go-to metaphor to make the pre-sale process intuitive. Legally, the Gems pre-sale is no more an IPO than a smile is a sunny day. 

I get that stock is not being sold here.  It is because this is not an ipo that I'd like to understand the structure/ownership/etc of the organisation which will manage BAU operations.

[Nxtblg]

this is not an "ipo" first of all.  an "ipo" happens when stock equity is offered to the public, generally after it has been offered to investors, employees and founders. before that there may be a seed round, an A round, B, C, D, F, G and H rounds or series. Warrants, preferences, etc. 

I'm guessing this is sort of like a sale of services or goods with future delivery...

Good point. The reason why the "IPO" term stuck back in tha day was that it was used as a go-to metaphor to make the pre-sale process intuitive. Legally, the Gems pre-sale is no more an IPO than a smile is a sunny day. 

I get that stock is not being sold here.  It is because this is not an ipo that I'd like to understand the structure/ownership/etc of the organisation which will manage BAU operations.

Cool...some self-appointed-lawyer types don't. As for your questions, though, I can't answer any of them. I guess we'll have to wait for peled1986 to answer. But I know him 'round here, and I consider him trustworthy. So I'm sure he'll come by and answer you. 

[TomKoinify]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

[xxxgoodgirls]

This will almost certainly come across as negative, it is not intended to be so, but this thread is sorely lacking in the kind of objective, matter of fact due diligence that should be part and parcel of any attempt to secure capital for a new business venture.  I've listed a number of questions below:

Assuming all off-chain operations will be managed through a company, what is the current or proposed legal entity structure, registered headquarters etc

Equity ownership (of the legal company): who will own what?

Tax and financial compliance: what is the strategy? How will revenue, profit and loss be accounted and in which jurisdictions?

What legal jurisdictions will you operate in and do you plan to comply with all local regulations?

Can you confirm how many people work in the company, what their roles are, and their credentials? (Please no arguments over whether it is reasonable to expect this info, it is your prerogative to withhold, but it would be nice to have).

The fact that messages themselves are managed through an entirely off chain architecture alarms me:
How is anonymity guaranteed?
How is encryption guaranteed?
What (if any) user information will be held by the company and how can you assure user data will be securely protected (e.g. against hacking OR a legal government demand to hand over data).

How will core dev (or for that matter, all residual company operations) be sustained once IPO and dev bounty funds are exhausted?

Please explain roughly the scale of incentive value being offered to users, for instance would typical levels of messaging activity (say 10 messages / day) combined with opt-in adverts yield reward Gems worth >$5 per week, or <$.000001 per week. Just a rough estimate.

How will you attract users who may not interested in the ethics of the platform, or the prospect of making money from their social media participation, and who are demonstrably prepared to accept targeted ads in return for access to a platform rich in features and existing social connections, even in the knowledge that their messages are accessible to various snooping agencies. Like it or not, these are the users of today.

I don't like Facebook much, but with it I can see who is online, I can message a group of connections, add people to existing chats, I can see who has read my messages, and when they were read, I can post multiple media formats and I get push notifications when things of relevance happen - those are probably the features useful to me.  Does/will Gems have these features? When it comes to mass adoption, it is ALL about user experience, and you need to be better than the best to stand a chance.

All that said, the value redistribution model is where I think the industry is headed, however even this does not guarantee long term viability for Gems, because fundamentally gems appears to be a centralised messaging app which just happens to reward users, a model any of today's biggest competitors could embrace at any point.

Have you considered developing a protocol for social messaging which bakes messaging, advertising, and reward distribution directly into the protocol? I understand you see the linkage with the bitcoin blockchain as a priority, but this also limits the capabilities you can offer.  Have you considered integration with other (or additional) blockchains better suited to the capabilities your core product requires (maidsafe, Storj, ethereum etc).

bump

[peled1986]

We will be answering all of the questions.

[peled1986]

GEMS - Koinify - Announcement

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

We are very excited to be the first project to launch a presale on top of Koinify.
More info about Koinify here: http://www.coindesk.com/koinify-1-million-smart-corporation-crowdfunding/

Koinify will provide an ecosystem for decentralized entities to access funding and build a whole new economic infrastructure from the ground up. Koinify are raising the crypto crowd-funding standards by introducing secured via multi-sig Wallets and auditing by third party.

[devphp]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

[peled1986]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

There is a bit of confusion.
Koinify is a crowdfunding platform.
Counterparty is Protocol and Client (built on Bitcoin) that Gems is built on.

[devphp]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

There is a bit of confusion.
Koinify is a crowdfunding platform.
Counterparty is Protocol and Client (built on Bitcoin) that Gems is built on.

To invest in the initial offering of GEMS one has to sign up at koinify.com then?

[peled1986]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

There is a bit of confusion.
Koinify is a crowdfunding platform.
Counterparty is Protocol and Client (built on Bitcoin) that Gems is built on.

To invest in the initial offering of GEMS one has to sign up at koinify.com then?

Yes

[deliciousowl]

Aw, why not SWARM 

[jdebunt]

Small article about the Koinify announcement :

http://www.cryptoarticles.com/crypto-news/gems-pre-sale-takes-place-on-koinify-in-november

[IamNotSure]

Aw, why not SWARM 

Maybe because they're not really operational yet !

[cryptodance]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

There is a bit of confusion.
Koinify is a crowdfunding platform.
Counterparty is Protocol and Client (built on Bitcoin) that Gems is built on.

To invest in the initial offering of GEMS one has to sign up at koinify.com then?

Yes

What will be the final amount of Gems ever? I am seeing different numbers on different threads (webpages). Is it 1 billion or 10 billion gems?
What will be the ICO price per GEM? If the price has not been set or will not be announced until launch day then I would find it interesting that the ICO launches one day after the scheduled October 28th launch of the Nxtty Cryptomessenger on Google Play. The GEMS ICO price should be announced days before the ico starts. Perhaps it was announced and I missed it. Hopefully someone can soon answer my questions. I am trying to decide if I should buy more Nxtty or buy some Gems. Right now I am loving the 5% reward provided every month simply by holding Nxttycoin.

[peled1986]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

There is a bit of confusion.
Koinify is a crowdfunding platform.
Counterparty is Protocol and Client (built on Bitcoin) that Gems is built on.

To invest in the initial offering of GEMS one has to sign up at koinify.com then?

Yes

What will be the final amount of Gems ever? I am seeing different numbers on different threads (webpages). Is it 1 billion or 10 billion gems?
What will be the ICO price per GEM? If the price has not been set or will not be announced until launch day then I would find it interesting that the ICO launches one day after the scheduled October 28th launch of the Nxtty Cryptomessenger on Google Play. The GEMS ICO price should be announced days before the ico starts. Perhaps it was announced and I missed it. Hopefully someone can soon answer my questions. I am trying to decide if I should buy more Nxtty or buy some Gems. Right now I am loving the 5% reward provided every month simply by holding Nxttycoin.

- The final amount of Gems ever will be 100,000,000 (100M like it says in the OP and website).

- The final gems/btc pre-sale price will be determined by the community in a price discovery mechanism. Exact details will be gived ahead of time. (very similar method to other crowdfunding).

- Gems pre-sale will start in November (there isn't a fixed date yet)

- Gems and Nxttycoin have completely different models regarding growing the network and potential uses, you can read some here: https://bitcointalk.org/index.php?topic=758004.msg8594258;topicseen#msg8594258

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

- Nxtty is an interesting project and we wish them "good luck" and much success.

[cryptodance]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

There is a bit of confusion.
Koinify is a crowdfunding platform.
Counterparty is Protocol and Client (built on Bitcoin) that Gems is built on.

To invest in the initial offering of GEMS one has to sign up at koinify.com then?

Yes

What will be the final amount of Gems ever? I am seeing different numbers on different threads (webpages). Is it 1 billion or 10 billion gems?
What will be the ICO price per GEM? If the price has not been set or will not be announced until launch day then I would find it interesting that the ICO launches one day after the scheduled October 28th launch of the Nxtty Cryptomessenger on Google Play. The GEMS ICO price should be announced days before the ico starts. Perhaps it was announced and I missed it. Hopefully someone can soon answer my questions. I am trying to decide if I should buy more Nxtty or buy some Gems. Right now I am loving the 5% reward provided every month simply by holding Nxttycoin.

- The final amount of Gems ever will be 100,000,000 million (like it says in the OP and website).

- The final gems/btc pre-sale price will be determined by the community in a price discovery mechanism. Exact details will be gived ahead of time. (very similar method to other crowdfunding).

- Gems pre-sale will start in November (there isn't a fixed date yet)

- Gems and Nxttycoin have completely different models regarding growing the network and potential uses, you can read some here: https://bitcointalk.org/index.php?topic=758004.msg8594258;topicseen#msg8594258

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

- Nxtty is an interesting project and we wish them "good luck" and much success.

The website and OP say 1 billion (1,000 million). I assume your above posting of "100,000,000 million" really means 100,000,000 without the word million on the end; otherwise, the total number of Gems would be 100,000,000,000,000. The six extra zeros added to account for the word million.

The 5% interest in Nxtty will not make the supply bigger as the supply is fixed. The 5% interest started in August and only runs for 12 months. The nxttycoin used to pay the monthly 5% to the nxttycoin holders come from nxttycoin reserves from the total supply that the developers set aside for this sole purpose.

[peled1986]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

There is a bit of confusion.
Koinify is a crowdfunding platform.
Counterparty is Protocol and Client (built on Bitcoin) that Gems is built on.

To invest in the initial offering of GEMS one has to sign up at koinify.com then?

Yes

What will be the final amount of Gems ever? I am seeing different numbers on different threads (webpages). Is it 1 billion or 10 billion gems?
What will be the ICO price per GEM? If the price has not been set or will not be announced until launch day then I would find it interesting that the ICO launches one day after the scheduled October 28th launch of the Nxtty Cryptomessenger on Google Play. The GEMS ICO price should be announced days before the ico starts. Perhaps it was announced and I missed it. Hopefully someone can soon answer my questions. I am trying to decide if I should buy more Nxtty or buy some Gems. Right now I am loving the 5% reward provided every month simply by holding Nxttycoin.

- The final amount of Gems ever will be 100,000,000 million (like it says in the OP and website).

- The final gems/btc pre-sale price will be determined by the community in a price discovery mechanism. Exact details will be gived ahead of time. (very similar method to other crowdfunding).

- Gems pre-sale will start in November (there isn't a fixed date yet)

- Gems and Nxttycoin have completely different models regarding growing the network and potential uses, you can read some here: https://bitcointalk.org/index.php?topic=758004.msg8594258;topicseen#msg8594258

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

- Nxtty is an interesting project and we wish them "good luck" and much success.

The website and OP say 1 billion (1,000 million). I assume your above posting of "100,000,000 million" really means 100,000,000 without the word million on the end; otherwise, the total number of Gems would be 100,000,000,000,000. The six extra zeros added to account for the word million.

The 5% interest in Nxtty will not make the supply bigger as the supply is fixed. The 5% interest started in August and only runs for 12 months. The nxttycoin used to pay the monthly 5% to the nxttycoin holders come from nxttycoin reserves from the total supply that the developers set aside for this sole purpose.

yes, I meant 100 million gems is the total supply.
I see that the website and OP says 100M (try refreshing the page)

I didn't say the 5% interest in Nxtty will make the total (fixed) supply bigger I meant the amount of Nxttycoins in the market will be bigger (without the network actually growing with users).

[cryptodance]

Gems will be launching with Koinify, you can see the details at: www.Koinify.com!

Not on Counterparty?

There is a bit of confusion.
Koinify is a crowdfunding platform.
Counterparty is Protocol and Client (built on Bitcoin) that Gems is built on.

To invest in the initial offering of GEMS one has to sign up at koinify.com then?

Yes

What will be the final amount of Gems ever? I am seeing different numbers on different threads (webpages). Is it 1 billion or 10 billion gems?
What will be the ICO price per GEM? If the price has not been set or will not be announced until launch day then I would find it interesting that the ICO launches one day after the scheduled October 28th launch of the Nxtty Cryptomessenger on Google Play. The GEMS ICO price should be announced days before the ico starts. Perhaps it was announced and I missed it. Hopefully someone can soon answer my questions. I am trying to decide if I should buy more Nxtty or buy some Gems. Right now I am loving the 5% reward provided every month simply by holding Nxttycoin.

- The final amount of Gems ever will be 100,000,000 million (like it says in the OP and website).

- The final gems/btc pre-sale price will be determined by the community in a price discovery mechanism. Exact details will be gived ahead of time. (very similar method to other crowdfunding).

- Gems pre-sale will start in November (there isn't a fixed date yet)

- Gems and Nxttycoin have completely different models regarding growing the network and potential uses, you can read some here: https://bitcointalk.org/index.php?topic=758004.msg8594258;topicseen#msg8594258

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

- Nxtty is an interesting project and we wish them "good luck" and much success.

The website and OP say 1 billion (1,000 million). I assume your above posting of "100,000,000 million" really means 100,000,000 without the word million on the end; otherwise, the total number of Gems would be 100,000,000,000,000. The six extra zeros added to account for the word million.

The 5% interest in Nxtty will not make the supply bigger as the supply is fixed. The 5% interest started in August and only runs for 12 months. The nxttycoin used to pay the monthly 5% to the nxttycoin holders come from nxttycoin reserves from the total supply that the developers set aside for this sole purpose.

yes, I meant 100 million gems is the total supply.
I see that the website and OP says 100M (try refreshing the page)

I didn't say the 5% interest in Nxtty will make the total (fixed) supply bigger I meant the amount of Nxttycoins in the market will be bigger (without the network actually growing with users).

Yes, the total amount of Nxttycoin will remain fixed. The amount in circulation will grow with the limited-term 5% monthly reward but not beyond the total fixed supply. I view increased circulation as a good thing, as it can help the Nxtty Cryptomessenger gain wide adoption by the masses, given that the app will also have a built-in TIP button where users can tip anyone with Nxttycoin. The developers are smart to give 2500 free Nxttycoin to the first 100,000 app downloads from Google Play or the Apple apps store. These free Nxttycoin to app downloaders are also from the total (fixed) supply.

Enough about the Nxtty Cryptomessenger and Nxttycoin. I am definitely interested in obtaining some GEMS. I like the concept of enabling GEMS users to obtained revenue from served ads. I am not sure how far you are in the development of the app. Can you provide an approximate timeframe in which you think the app will be ready for download, including beta and/or non-beta versions? ... Within 3 months? Within 6 months? 

[Ricken]

When is the CrowdFunding going to start?
I would like to support the idea of a messenger based app that is owned by the people that use it, not making one person another billionaire.
Can I sign up at both Koinify.com and get gems.org and get two betas?