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Author Topic: [ANN] AMP - The Currency That Powers Your Attention On Synereo  (Read 844662 times)
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September 13, 2016, 01:49:43 PM
 #1981

You can see the live demo now. Afterwards they are walking people to help stand up nodes.

https://www.youtube.com/watch?v=dB7DwLri5Z4&feature=youtu.be

Looks really nice for an Alpha! Pretty remarkable day for crypto. The first look at the worlds first fully decentralised network. Can't stamp the AMP. (Think I am borrowing this)

RChain is going to launch with AMP as the native token, and then developed further to allow validators (block verifiers, extending the Blockchain) to choose to stake and accept fees in other currencies. Note that it is not yet certain that creating a Blockchain capable of accepting multiple currencies is possible.

We have absolutely no reason to "kill" the market price. AMPs are what allow both us and our supporters to be aligned on the goals of this project. No one has an incentive to "dump".
We've been trying to be very transparent and clear about our plans regarding to future release of AMPs and how this will only be done to create more value for everyone involved.

Greg stated at the Vancouver conference that "smart money", as he termed it, was buying AMPs, and that they've been getting several offers of investment in the seven and eight figure ranges.  Imo, the price on Poloniex is a steal, and the sellers are very foolish.  Synereo is posed to be bigger than Ethereum imo with widespread appeal to a much vaster audience.  Anyone who has reservations about AMPs should consider that the founders and the project have the most to lose from a declining price.  Nobody is interested in hurting Synereo's development.  The second crowdsale was partially necessary, because none of the original crowdsale participants (aka "smart money") were selling.  I think this crowdsale will sell out of AMPs early, and imo, once it is over, AMPs will take off.

You know what I'm going to say...

YOU CAN'T STAMP THE AMP!

Very well put, loving this thought!
Let's hope it happens sooner rather than later.
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September 13, 2016, 04:46:23 PM
 #1982

Thnx for the partial answer, can you please tell us what determines the price of tokens in private sales? Also are you giving out bonus on private sales? If yes, how much?

Also in this file that you Elokane linked there is nothing about future of unreleased tokens, no guarantees, no plans so you can do what ever you like with those, for example give them bellow market price or in market price with big bonuses to attract new investors which is a market violation and a whale can dump with instant profit.

Sure, I can post that again.

The price between the pre-sale, and the promotion period (30 days) are the same, as well as the bonuses.

Plans & guarantees are below:

From this thread's OP:

Quote
The Synereo crowdsale was supervised by the Omni Foundation. The Omni Foundation has access to all transactional
information, with their executives serving in the role of trustees for the AMP tokens. Synereo has no access to these funds
without their approval
. See our Asset Policies document for more information.

"The Synereo crowdsale was architected by the Synereo and Omni teams to be the most secure crowdsale performed on the Bitcoin
blockchain to date
. Every element of the process, from the purchase address receiving BTC, to the designated operational wallets,
the issuing address for AMPs and the distribution of purchased tokens leverages the multi-signature capability of Bitcoin. The parties
responsible for each step include Synereo personnel as well as external verifiers, each holding keys. This demonstrates to purchasers
and future users of the Synereo platform that the commitments made by Synereo are fulfilled and verified by a third-party for each
next step in the process
. I hope this level of diligence is repeated in the future by others looking to provide participants with such a
high level of confidence." -- Craig Sellars, Co-founder and CTO of Tether and Technologist for Omni.

Transparently communicated here: https://docs.google.com/spreadsheets/d/1r1G-ROS4vgHK84qfn1CBIxuXZQCCvIicCTQSxW1T_mo/edit



Do you have any suggestions on making stronger "guarantees", if this does not seem adequate to you?


Please join our Discord channel for a variety of conversations: https://discord.gg/xrm56DV -  Visit the web site for general info: http://www.synereo.com/  -  Our Blog has important updates and summaries: http://blog.synereo.com
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September 13, 2016, 05:07:19 PM
 #1983

Greg Meredith said I could get amp for trying to document the code w/ Ed Eykholt. How do we actually make this a reality? Is this like a job where I have to go to more interviews? Do I have to sign any contracts? Is there any hidden non-compete clause in the contract restricting me from working on any other blockchain or p2p project?

Let me know how the process works so I can see if I'm still interested.

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September 13, 2016, 05:39:22 PM
 #1984

Greg Meredith said I could get amp for trying to document the code w/ Ed Eykholt. How do we actually make this a reality? Is this like a job where I have to go to more interviews? Do I have to sign any contracts? Is there any hidden non-compete clause in the contract restricting me from working on any other blockchain or p2p project?

Let me know how the process works so I can see if I'm still interested.

Join the slack and someone can point you in the right direction. If Greg approved it then your good. http://slack.synereo.com/ There is a #bounties channel and please ask in there. Thanks for your contribution.

Join our slack where the conversation is happening http://slack.synereo.com/
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September 13, 2016, 05:54:53 PM
 #1985

https://bnktothefuture.com/ Where qualifying investors can invest in Synereo LTD and anyone can buy AMP with bank transfers, credit cards, bitcoin, and altcoins.

What is a qualified investor? A minimum investment sum or do you review the personality?

What do I buy on bnktothefuture? Classic shares that end up in my usual stock shares portfolio?

You can find all that info at the BTTF site, who is responsible for the management of share sales.

Please join our Discord channel for a variety of conversations: https://discord.gg/xrm56DV -  Visit the web site for general info: http://www.synereo.com/  -  Our Blog has important updates and summaries: http://blog.synereo.com
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September 13, 2016, 06:38:29 PM
 #1986

SynereoCommunity

One more point I'd like to clarify: who has legal ownership of the remaining 96% premine? Does Synereo Ltd own it entirely and are there any plans or wording in the status that would allow the founders or company C-level officers to gift some AMPs to themselves?

That's an important aspect to understand because there was a precedent with Ripple where the 3 founders decided to gift themselves 20% of the premine, and things started to get very wrong when they had a fall out and one of the founder left the firm and started to dump his 9% premine on the market. The situation is still ongoing. That founder is still dumping continuously albeit at a limited rate that was agreed between him and Ripple Inc as part of the settlement of a pretty nasty court trial.
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September 13, 2016, 07:13:41 PM
 #1987

SynereoCommunity

One more point I'd like to clarify: who has legal ownership of the remaining 96% premine? Does Synereo Ltd own it entirely and are there any plans or wording in the status that would allow the founders or company C-level officers to gift some AMPs to themselves?

That's an important aspect to understand because there was a precedent with Ripple where the 3 founders decided to gift themselves 20% of the premine, and things started to get very wrong when they had a fall out and one of the founder left the firm and started to dump his 9% premine on the market. The situation is still ongoing. That founder is still dumping continuously albeit at a limited rate that was agreed between him and Ripple Inc as part of the settlement of a pretty nasty court trial.

Good question, and having some background helps to understand the concern.

I know of nothing that would give the founders such a right, and as I linked above, the conditions (including multi-sig) are set up quite contrary to such an idea. 

Do you happen to know if Ripple had a loophole?  Or did they have some agreement and just break it?  Or maybe just no precautions were taken?

Even "ownership" is not straightforward here, though a good example of why they say "possession is 9/10ths of the law" regarding property.  Tokens are an artifact of the software, which is open source.  Certainly, Synereo Ltd, and the 3rd party administrators, have control over the funds, limited to the conditions set forth in the agreement.  Management has made it clear from the beginning that the user community would be heard in making these decisions, and so far, that has been proven true.

As Dor said recently, we work toward ways to communicate plans as they become available. 

Please join our Discord channel for a variety of conversations: https://discord.gg/xrm56DV -  Visit the web site for general info: http://www.synereo.com/  -  Our Blog has important updates and summaries: http://blog.synereo.com
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September 13, 2016, 08:06:29 PM
 #1988

https://blog.synereo.com/2016/09/05/meet-rchain-the-first-scalable-blazing-fast-turing-complete-blockchain/

Where can I find out more about the tech stack?
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September 13, 2016, 08:38:55 PM
 #1989

Sure, I can post that again.

The price between the pre-sale, and the promotion period (30 days) are the same, as well as the bonuses.

But still you fail to answer my question. When this promotion is over, you will still do private sales right? If yes, what determines the price of tokens in private sales? Is it the current market price? Is it some price from your head? Are there also bonuses?


From this thread's OP:

The Synereo crowdsale was supervised by the Omni Foundation. The Omni Foundation has access to all transactional
information, with their executives serving in the role of trustees for the AMP tokens. Synereo has no access to these funds
without their approval
. See our Asset Policies document for more information.

"The Synereo crowdsale was architected by the Synereo and Omni teams to be the most secure crowdsale performed on the Bitcoin
blockchain to date
. Every element of the process, from the purchase address receiving BTC, to the designated operational wallets,
the issuing address for AMPs and the distribution of purchased tokens leverages the multi-signature capability of Bitcoin. The parties
responsible for each step include Synereo personnel as well as external verifiers, each holding keys. This demonstrates to purchasers
and future users of the Synereo platform that the commitments made by Synereo are fulfilled and verified by a third-party for each
next step in the process
. I hope this level of diligence is repeated in the future by others looking to provide participants with such a
high level of confidence." -- Craig Sellars, Co-founder and CTO of Tether and Technologist for Omni.

Did they publish some kind of rules for unpublished AMP tokens? If yes can you please link to that document?

I never heard of those guys, why should we trust them at all? Why should we trust anyone? Crypto currencies are made to fight banks and their fake emission of money, and now you're acting like a bankar lol.

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September 14, 2016, 12:16:37 AM
 #1990

What is the difference between Synereo the company selling equity on Bnktothefuture, and the AMP's? How will Synereo company make a profit / how will that be different to the network  (Amp hodlers) benefitting?

Thanks
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September 14, 2016, 12:33:47 AM
 #1991

Hi,

Do you have an online wallet  to store my synereo and if not where is the link to install my windows wallet?

AMP is an OMNI asset. You can download a wallet here http://www.omnilayer.org/

Using a bitcoin blockchain asset for fund raising before a blockchain was a genius move! Synereo starts with all the assets and there's no dilution for securing the blockchain.

Who knows how high they can get the price of this coin before they even have a blockchain! They own almost all the coins, NFX is the big investor and there's no dilution. If you didn't know yet, this is the recipe for an EPIC pump.

That's why I joined this project. I talked to Greg Meredith and Ed Eykholt at the conference. They said I'll get a bounty to set up a node so I can communicate with Ed Eykholt about documenting the code.

When I get a chance I think I want to test the alpha personally and make a step by step guide for others. I believe anyone can actually just test the alpha right now. I have seen it run a bunch in the community hangouts, but I really want to try it hands on.

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September 14, 2016, 12:48:19 AM
 #1992



But still you fail to answer my question. When this promotion is over, you will still do private sales right? If yes, what determines the price of tokens in private sales? Is it the current market price? Is it some price from your head? Are there also bonuses?

We have not, and we will not, hold private sales. Whenever we sold tokens, we have made it very public on our community hangouts and in this thread. We have logged everything in public documents and kept pointing to them. Feel free to search back.

Quote

Did they publish some kind of rules for unpublished AMP tokens? If yes can you please link to that document?

I never heard of those guys, why should we trust them at all? Why should we trust anyone? Crypto currencies are made to fight banks and their fake emission of money, and now you're acting like a bankar lol.

https://docs.google.com/document/d/1zLBm8OHt5-81flihJ6iSKEm0WbRa6FL0mJ5ivBN34Po/edit
You shouldn't, and no one is asking you, to trust anyone. If you don't feel that this is a worthy venture, or believe its leaders are trustworthy people, you shouldn't participate in the sale.


Synereo: liberating the Internet from abusive business models.

Beware of he who would deny you access to information, for in his heart, he dreams himself your master.
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September 14, 2016, 12:54:47 AM
 #1993

Good question, and having some background helps to understand the concern.

I know of nothing that would give the founders such a right, and as I linked above, the conditions (including multi-sig) are set up quite contrary to such an idea.  

Do you happen to know if Ripple had a loophole?  Or did they have some agreement and just break it?  Or maybe just no precautions were taken?

Even "ownership" is not straightforward here, though a good example of why they say "possession is 9/10ths of the law" regarding property.  Tokens are an artifact of the software, which is open source.  Certainly, Synereo Ltd, and the 3rd party administrators, have control over the funds, limited to the conditions set forth in the agreement.  Management has made it clear from the beginning that the user community would be heard in making these decisions, and so far, that has been proven true.

As Dor said recently, we work toward ways to communicate plans as they become available.  


Seriously you have to stop being handwavy about everything.
Each single time I ask you a question you give a lengthy indirect avoiding answer.
Don't pretend there is no such thing as "legal ownership" of crypto tokens so that you don't need to take a position about who owns the premine. There is such a thing as legal ownership of crypto assets. There have been court cases all around the world around allocation of Bitcoins (Silkroad trial, MtGox liquidation, pirateat40 scam etc.) or other assets (Ripple Inc vs Jed MacCaleb). Ripple Inc. has even created a holding company XRP2 Inc. that legally owns their XRP premine and which is itself fully owned by Ripple Inc. Ethereum has also stated legal ownershio of the Ether and Bitcoin they own etc. Tomorrow if someone steals 1M AMPs you will go to report that to authority as theft won't you? So stop the handwaving and trying to pull with asset ownership the same stunt as you tried to pull earlier with marketcap which you claim bizarrely doesn't apply to crypto assets.

Let's get to the point: on bnktothefuture there are videos of Don and Greg saying as much as one of the reasons Synereo equity is valuable is because Synereo is the holder of the AMPs premine. So now I want a clear answer. Who legally owns the premine?

Don't try to weasel out of that one or I will make it a personal matter to air as widely as possible the fact Synereo is very shady and dodgy about what it does and sells, and doing all it can to avoid providing any transparency to investors and community even at the very time where it is trying to sell actual equity.
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September 14, 2016, 01:01:03 AM
 #1994

Synereo LTD is the legal owner of the remaining AMPs.

Synereo: liberating the Internet from abusive business models.

Beware of he who would deny you access to information, for in his heart, he dreams himself your master.
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September 14, 2016, 02:01:55 AM
 #1995

We have not, and we will not, hold private sales. Whenever we sold tokens, we have made it very public on our community hangouts and in this thread. We have logged everything in public documents and kept pointing to them. Feel free to search back.

Ok this is good to know, so please tell me how will the price of the tokens sold in private sales be determined? Is is by current market price?


https://docs.google.com/document/d/1zLBm8OHt5-81flihJ6iSKEm0WbRa6FL0mJ5ivBN34Po/edit
You shouldn't, and no one is asking you, to trust anyone. If you don't feel that this is a worthy venture, or believe its leaders are trustworthy people, you shouldn't participate in the sale.

Thank you for this document, it's pretty transparent.
So the 2 billion tokens are not all the AMPs, there will still be around 5% yearly created to keep the network alive? Didn't know there will be inflation as well :/

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September 14, 2016, 03:04:02 AM
 #1996

Synereo LTD is the legal owner of the remaining AMPs.

Thanks Dor, that's exactly the short and concise answer I was hoping to get.
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September 14, 2016, 03:06:49 AM
 #1997

We have not, and we will not, hold private sales. Whenever we sold tokens, we have made it very public on our community hangouts and in this thread. We have logged everything in public documents and kept pointing to them. Feel free to search back.

Ok this is good to know, so please tell me how will the price of the tokens sold in private sales be determined? Is is by current market price?


https://docs.google.com/document/d/1zLBm8OHt5-81flihJ6iSKEm0WbRa6FL0mJ5ivBN34Po/edit
You shouldn't, and no one is asking you, to trust anyone. If you don't feel that this is a worthy venture, or believe its leaders are trustworthy people, you shouldn't participate in the sale.

Thank you for this document, it's pretty transparent.
So the 2 billion tokens are not all the AMPs, there will still be around 5% yearly created to keep the network alive? Didn't know there will be inflation as well :/

The amount of people on the planet, and more so the amount of people using social networks, has been growing at a greater pace since the turn of the millennium.

Synereo: liberating the Internet from abusive business models.

Beware of he who would deny you access to information, for in his heart, he dreams himself your master.
<br>
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September 14, 2016, 03:08:58 AM
 #1998

We have not, and we will not, hold private sales. Whenever we sold tokens, we have made it very public on our community hangouts and in this thread. We have logged everything in public documents and kept pointing to them. Feel free to search back.

Ok this is good to know, so please tell me how will the price of the tokens sold in private sales be determined? Is is by current market price?


https://docs.google.com/document/d/1zLBm8OHt5-81flihJ6iSKEm0WbRa6FL0mJ5ivBN34Po/edit
You shouldn't, and no one is asking you, to trust anyone. If you don't feel that this is a worthy venture, or believe its leaders are trustworthy people, you shouldn't participate in the sale.

Thank you for this document, it's pretty transparent.
So the 2 billion tokens are not all the AMPs, there will still be around 5% yearly created to keep the network alive? Didn't know there will be inflation as well :/

The amount of people on the planet, and more so the amount of people using social networks, has been growing at a greater pace since the turn of the millennium.
thanks for explaining this im just new from synereo just seeing how the coin moving from both trex and polo so i got interested to look for more info.

.

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September 14, 2016, 03:38:50 AM
 #1999

You can see the live demo now. Afterwards they are walking people to help stand up nodes.

https://www.youtube.com/watch?v=dB7DwLri5Z4&feature=youtu.be

Looks really nice for an Alpha! Pretty remarkable day for crypto. The first look at the worlds first fully decentralised network. Can't stamp the AMP. (Think I am borrowing this)

RChain is going to launch with AMP as the native token, and then developed further to allow validators (block verifiers, extending the Blockchain) to choose to stake and accept fees in other currencies. Note that it is not yet certain that creating a Blockchain capable of accepting multiple currencies is possible.

We have absolutely no reason to "kill" the market price. AMPs are what allow both us and our supporters to be aligned on the goals of this project. No one has an incentive to "dump".
We've been trying to be very transparent and clear about our plans regarding to future release of AMPs and how this will only be done to create more value for everyone involved.

Greg stated at the Vancouver conference that "smart money", as he termed it, was buying AMPs, and that they've been getting several offers of investment in the seven and eight figure ranges.  Imo, the price on Poloniex is a steal, and the sellers are very foolish.  Synereo is posed to be bigger than Ethereum imo with widespread appeal to a much vaster audience.  Anyone who has reservations about AMPs should consider that the founders and the project have the most to lose from a declining price.  Nobody is interested in hurting Synereo's development.  The second crowdsale was partially necessary, because none of the original crowdsale participants (aka "smart money") were selling.  I think this crowdsale will sell out of AMPs early, and imo, once it is over, AMPs will take off.

You know what I'm going to say...

YOU CAN'T STAMP THE AMP!

Very well put, loving this thought!
Let's hope it happens sooner rather than later.

It's coming.

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September 14, 2016, 03:59:10 AM
 #2000

After the bnktothefuture crawdsale finishes, will the AMP token sales on your website still be opened? If yes, can you please tell me how is the price of those tokens determined?

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