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Author Topic: [ANN] AMP - The Currency That Powers Your Attention On Synereo  (Read 841486 times)
maldini
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September 19, 2016, 03:04:52 AM
 #2121

time is bay some AMP and holding Smiley

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DecentralizeEconomics
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September 19, 2016, 04:54:36 AM
 #2122

When crowdfunding start amp will reach 100k, when it over, 150k+

Explain how price can reach 100k during crowdsale when the price is at 33k ?

It's possible.  They had raised over $1M USD a few days ago, and the crowdsale hasn't started yet.  They're only aiming to raise around $8M USD.  My guess is that they'll hit that amount way before the thirty days is over.  That being said, if demand is high enough, it could hit 100k or more before the thirty days is up.

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Ethertrader1
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September 19, 2016, 06:57:07 AM
 #2123

When crowdfunding start amp will reach 100k, when it over, 150k+

Explain how price can reach 100k during crowdsale when the price is at 33k ?

It's possible.  They had raised over $1M USD a few days ago, and the crowdsale hasn't started yet.  They're only aiming to raise around $8M USD.  My guess is that they'll hit that amount way before the thirty days is over.  That being said, if demand is high enough, it could hit 100k or more before the thirty days is up.

$8M is never an easy task, but I think possible considering they are over $1 Million before it starts. I think if the price was a little lower it would easily smash this. I like the idea of a second funding round like this. Too many ICO's turn out to be nothing.
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September 19, 2016, 07:03:10 AM
 #2124

Founder Reward Wallet: 100,000,000 out of 200,000,000
Future Funding Wallet: 396,901,858 out of remaining 793,803,716 AMPs*
User Reward Wallet: 100,000,000 out of 200,000,000 AMPs
Content Creator Wallet: 75,000,000 out of 150,000,000 AMPs
Bounty Wallet: 55,000,000 out of remaining 220000000 AMPs**
Intermediary Bounty Wallet: 4207079.25 AMPs***

A  I correct in saying that 841,108,937.25 AMPS remain in existence today? (In circulation and not in circulation), is my calculation correct?
Erik Goff
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September 19, 2016, 07:45:31 AM
 #2125


The other seven contestants each won $50 US worth of AMPs

Congratulations everyone, and thank you so much for being part of our amazing community.

Please contact me with your AMP address and I will get you paid ASAP.
Your amount of AMP will be determined using the exchange rate at the time of this post, which is $0.177178


Did anyone receive their prize from the contest ? i didn't receive anything yet
Mongwapogi
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September 19, 2016, 07:48:04 AM
 #2126


The other seven contestants each won $50 US worth of AMPs

Congratulations everyone, and thank you so much for being part of our amazing community.

Please contact me with your AMP address and I will get you paid ASAP.
Your amount of AMP will be determined using the exchange rate at the time of this post, which is $0.177178


Did anyone receive their prize from the contest ? i didn't receive anything yet

I've PM Sir Joeri about it and here's the reply

Thanks @mongwapogi ! I'll send everyone their prize as soon as our treasurer sends me the AMPs
-Joeri


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Ethertrader1
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September 19, 2016, 08:05:27 AM
 #2127


The other seven contestants each won $50 US worth of AMPs

Congratulations everyone, and thank you so much for being part of our amazing community.

Please contact me with your AMP address and I will get you paid ASAP.
Your amount of AMP will be determined using the exchange rate at the time of this post, which is $0.177178


Did anyone receive their prize from the contest ? i didn't receive anything yet

I've PM Sir Joeri about it and here's the reply

Thanks @mongwapogi ! I'll send everyone their prize as soon as our treasurer sends me the AMPs
-Joeri

some really nice cartoons came out of the contest. Props to the winners.
m4nki
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September 19, 2016, 11:35:07 AM
 #2128

Check out Synereo's most recent blog post concerning the burning of AMPs. Also, the fundraising campaign on https://bnktothefuture.com/pitches/synereo starts today! Smiley

Quote
Synereo Destroys $146,221,787 USD in AMPs
Posted by   Dor Konforty

Up until an hour ago, Synereo LTD and its founders governed $300,000,000 worth of AMPs. But it was never our intention to be the central bank for our information flow currency. Such centralization goes against the very principles Synereo stands for.

Merely standing for principles is not enough.

That is why we have decided to burn about half of all AMPs held in Synereo’s wallets, including the Founder and Future Funding wallets, effectively destroying over $140 million worth of the cryptocurrency based on recent market prices.

 

Here’s what’s burning:

Founder Reward Wallet: 100,000,000 out of 200,000,000

Future Funding Wallet: 396,901,858 out of remaining 793,803,716 AMPs*

User Reward Wallet: 100,000,000 out of 200,000,000 AMPs

Content Creator Wallet: 75,000,000 out of 150,000,000 AMPs

Bounty Wallet: 55,000,000 out of remaining 220000000 AMPs**

Intermediary Bounty Wallet: 4207079.25 AMPs***

 

Total Burnt: 731,108,937 AMPs

[...]



https://blog.synereo.com/2016/09/16/synereo-burns-half-of-all-amps-in-existence/



Ethertrader1
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September 19, 2016, 11:39:11 AM
 #2129

Check out Synereo's most recent blog post concerning the burning of AMPs. Also, the fundraising campaign on https://bnktothefuture.com/pitches/synereo starts today! Smiley

Quote
Synereo Destroys $146,221,787 USD in AMPs[/b]
Posted by   Dor Konforty

Up until an hour ago, Synereo LTD and its founders governed $300,000,000 worth of AMPs. But it was never our intention to be the central bank for our information flow currency. Such centralization goes against the very principles Synereo stands for.

Merely standing for principles is not enough.

That is why we have decided to burn about half of all AMPs held in Synereo’s wallets, including the Founder and Future Funding wallets, effectively destroying over $140 million worth of the cryptocurrency based on recent market prices.

 

Here’s what’s burning:

Founder Reward Wallet: 100,000,000 out of 200,000,000

Future Funding Wallet: 396,901,858 out of remaining 793,803,716 AMPs*

User Reward Wallet: 100,000,000 out of 200,000,000 AMPs

Content Creator Wallet: 75,000,000 out of 150,000,000 AMPs

Bounty Wallet: 55,000,000 out of remaining 220000000 AMPs**

Intermediary Bounty Wallet: 4207079.25 AMPs***

 

Total Burnt: 731,108,937 AMPs[/b]

[...]



https://blog.synereo.com/2016/09/16/synereo-burns-half-of-all-amps-in-existence/




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September 19, 2016, 11:57:59 AM
 #2130

The (re-)Birth of the World Computer

The cyber-punk community, and cryptography enthusiasts around the world have been head over feet lately for an innocent looking app that, according to the rumors, might just change the internet and everything you know about it. A small Israeli startup, called Synereo, recently announced the alpha launch of its decentralized Social Network, and raised a great deal of curiosity among the tech savvy and the slightly nerdy.

A decentralized Social-Network does essentially everything that Facebook and Twitter do, except that it doesn’t store or process the information necessary for the performance of the network in a centralized location, hence decentralized. This means that the Synereo network operates entirely without central servers or data centers. Instead, the network compensates users for contributions of storage and computation power when they support the distributed network with their personal computers or mobile devices.

This might sound like a technical peculiarity, but actually is kind of a bombshell to the ears of everyone initiated to the secret workings of the contemporary Internet. The dependence on centralized servers has been the Internet’s dirty little secret for a while now. Although it often looks free, chaotic and, well, cyberpunky - the Internet, and everything on it, is essentially highly centralized and monopolized at the hands of whomever has enough power or capital to supply the storage and computation power to actually keep it up and running (Google, Amazon and the rest of the gang, yes, we’re looking at you).

This state of affairs grants those powerful entities a staggering amount of control. Although created by you, me and the rest of Internet users, the information stored on their servers eventually belongs to them, and can be manipulated, sold bought and leveraged as they see fit. Not to speak of being hacked by, or handed over to the government, or any other syndicate of men in black suits with funny hats.

The idea of distributing the task, assigned to central servers, among the users of the Internet itself, has been around for a while. Who wouldn’t want to shrink the influence of said infamous leviathans to mouth sized chunks? However, for the time being, this concept has encountered many technical hurdles, which until now seemed to high for this mode of operation to become mainstream. This, of course, didn’t keep humanity from trying.

Bitcoin was, and is, one of these attempts. Its underlying technology - The Blockchain (with capital B) - is what enables Bitcoin owners to perform transactions without clearing houses and third parties involved. This technology was later picked up by a 19 year old prodigy named Vitalik Buterin, founding father of the Ethereum project. Vitalik and his associates figured out a way to co-opt the Blockchain’s abilities for much more complicated transactions, effectively transforming it into a decentralized “World Computer”, composed of myriads of personal devices connected to it.

This “World Computer” would allow anyone to deploy applications, websites and even entire organizations, without having to rely on server farms, disclosing their personal information to the lords of mankind. However, it soon became self evident that Blockchain technology isn’t ready yet to deliver on this promise. It proved itself to be too wasteful, slow and above all - not scalable to global proportions. Until now, at least.

Recently Synereo disclosed the underlying technology, enabling its Social Network to function, and it soon became clear that something very interesting is going on. Labeled RChain, or simply Blockchain 2.0, the company announced a Technology Stack, seemingly solving Blockchain’s biggest drawbacks.

Synereo describes RChain as a “concurrent” and “sharded” Blockchain. “Sharded” refers to the subdivision of the Blockchain into composable parts, which interlock to a unified whole, but do not need to be computed all at once (as it is the case with the Bitcoin Blockchain). Concurrent means that this subdivision enables different processes to run in parallel without them interfering with each other. Synereo promises that as a result, RChain is about to solve most of the well known problems of classical Blockchains, troubling the entire industry for years, while enabling Blockchain based systems to be much faster, infinitely scalable and cheaper to maintain.

If all this is as it appears, we could be closer than ever to “fundamentally redesigning the way the internet works”, as Synereo’s company slogan goes. One of the implications would be an Internet that can’t be taken down, censored or hacked by any entity - public or private - and which would redistribute the power and influence that come with storing and processing internet activity, back to the hands of users.

Apparently, it will take a while until the fully matured stack is up and running, but given the prominent figures leading the Synereo development team, it seems worth the while. In the meantime, Synereo has already announced a Grant Project, handing out hundreds of thousands of dollars to developers interested in building decentralized applications for the future Synereo platform.

Time will tell where all this is heading, but for now, the future looks more decentralized than ever.


Join our slack where the conversation is happening http://slack.synereo.com/
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September 19, 2016, 12:01:08 PM
 #2131

Greg has been a guest on The Tatiana Show, explaining Synereo and the advantages of its decentralized social media network compared to established competitors:

https://www.youtube.com/watch?v=88uoYXXsXUo&feature=youtu.be

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September 19, 2016, 12:22:38 PM
 #2132

Founder Greg Meredith just finished up a presentation at Devcon 2 in Shanghai.

https://ethereumfoundation.org/devcon/?session=a-compositional-casper-machine

Join our slack where the conversation is happening http://slack.synereo.com/
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September 19, 2016, 12:22:59 PM
 #2133

Great blog post explaining the inherent value of Synereo AMPs:

https://blog.synereo.com/2016/09/14/amp-a-cryptocurrency-with-inherent-value/

The AMP – A Coin With (Even More) Inherent Value

Since the advent of Bitcoin, there has been a cambrian explosion of crypto assets. From Litecoins to Dogecoins, an incredible variety of tokens populates the exchanges, all competing for investor attention. However, it is not always clear where these coins derive their value from, and if there‘s something to them besides speculative hype and the Brownian motion of chaotic markets.

Synereo’s AMP, however, belongs to a special sub-group of crypto assets which derive their value from their inherent property, rendering their behaviour closer to that of real-life commodities than to that of mere speculative instruments.

AMPs are intrinsically valuable since they’re essential for anyone interested in accessing some of the services that will be provided by the Synereo network. As long as there exists a demand for these services, AMPs will carry value.

Let’s take a look at these services.


Sources of AMP Value
Demand for AMPs originates from 3 main sources:

AMPs will be the fuel for Synereo’s Virtual Machine, and as such are provided as a fee every time someone accesses your node to perform a computational operation, store information, or retrieve that information.

AMPs will be the staking currency of Synereo’s Proof-of-Stake consensus protocol, fronted by validators participating in the Blockchain assembly process.

AMPs lay at the foundation of Synereo’s Attention Economy and can be used to Amplify promoted content — to compensate other users for their attention.

AMPs as the Fuel for Synereo’s Virtual Machine
The Synereo platform is, in essence, a giant, global computer, composed of a multitude of personal devices, working together to maintain the network, execute decentralized applications, and host data. All these operations are services provided by Synereo nodes operating in synchronization. A “Node” is server software that combines into the decentralized virtual machine, installed by Synereo users just like you, who lend part of their computerized resources to the network while using it. These node operators are compensated with AMPs for each useful operation they perform.    

Accordingly, every user interested in deploying a decentralized application on the network, or in using its resources, has to compensate the nodes involved with AMPs to do so. This is not very different from the way the old-fashioned, centralized Internet functions: If you want to own a website, you have to pay for its hosting. The main difference to what happens on Synereo, however, is that in the centralized paradigm these payments flow to giant hosting corporations like Amazon, Google, eHost and the like. On Synereo, in contrast, these funds are distributed among Synereo node operators.  

So far so good. But at this point you might say that Internet users who access these hosted websites and applications normally do so for free, which seems to be the case, but is in fact quite far from the whole truth. When accessing ‘free’ web services like Google, Twitter, Facebook and many other web applications, you either pay by being exposed to commercial material or by being snooped upon and used as a Big-Data asset. In other words: If you don’t pay for the product, you are the product.

On Synereo, user exploitation of this kind is technically impossible due to its decentralized, private, Peer-to-Peer foundation. In order to economically maintain online-services deployed on Synereo, users are requested to pay AMP micropayments to access them, given that they’re not subsidized by the original deployer. These micropayments are virtually unfelt by users, since they always have the option to function as a Synereo node operator themselves, and as such collect micropayments as well.



AMPs as the Staking Currency of Synereo’s Proof-of-Stake Consensus Protocol
Every Blockchain has a consensus protocol which ensures that the nodes maintaining it don’t have the opportunity to corrupt or manipulate it. All nodes compare their results, so to speak, and make sure that only validated entries most nodes agree on are recorded on the Blockchain. These validating nodes are what transform the Blockchain into a truth source, objectively verifiable by anyone on the network.

RChain’s consensus protocol is based on the ‘Casper’ Proof of Stake design, developed by Synereo’s CTO, in cooperation with many of the key players in the blockchain space. On Casper, nodes are incentivized to participate in the validation process, but in order to do so, each validator first has to deposit a stake. If a validator produces anything the protocol considers “invalid”, which would happen if their response strategies allude to their attempt at manipulation, their deposits are forfeited along with the privilege of further participating in the consensus process. This constant need to for a participation stake creates a steady demand of AMPs.

AMPs as the Foundation of Synereo’s Attention Economy
On Synereo’s social network, AMPs can be used to promote and Amplify content. When invested in any type of post, AMPs increase the amount of views that post can receive, compared to what it could get without Amplification. In essence, AMPs AMPlify the power of a message, drawing more user attention to it. This allows anyone on the network to “purchase” user attention and to increase the spread of content.

If someone wants to pay for your attention, and you allow it – the AMPs they invest in the content you see come to you directly and automatically. And since people’s attention is a scarce commodity that is always in demand, AMPs have a base monetary value that represents the attention they can obtain on the network. You can, of course always opt-out from seeing Amplified, promoted content, granting you full control over your attention. But if you don’t, you’ll be rewarded directly.

Since AMPs are limited in number, and as a result of our attention economy model, AMPs also increase in effectiveness as the Synereo network grows – with each AMP invested allowing a post to receive more attention from more users as time goes by.

And if you don’t run your own node or want to worry about microtransactions, you can simply pay node hosts a small fee from all AMPs coming to you from Amplified content. Simple, no?


If you want to learn more about the Attention Economy model and the way information flows from user to user on Synereo’s social network, you can read this post, check out our simple slides about the model, or read our whitepaper which goes into the fine details.



 

If you want to purchase AMPs, you can participate in our upcoming fundraising campaign (https://bnktothefuture.com/pitches/synereo), which will start September 19th and run for 30 days. Join us in shaping the decentralized economy of the future!

 

Thank you for your attention,

— The Synereo Team

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September 19, 2016, 01:06:09 PM
 #2134

I will be doing so in add'n to some AMP I already hold.  You gents seem to be very good for promoting your brand right now I hope this continues very much more AFTER launch and the crowdsale.  (ie. don't let the hype die down with the price after u get many ppl to buy in)...thus that is actions like scam coins lol.  I trust u guys are much more pro level and will not let this be.  Hoping for huge things over next 3-6 months.  (i understand true finished product is end of 2017)
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September 19, 2016, 01:33:39 PM
 #2135

Blockchain Startup Synereo Destroys Native Cryptocurrency Worth $145 Million


Join our slack where the conversation is happening http://slack.synereo.com/
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September 19, 2016, 03:39:44 PM
 #2136

b]Here’s what’s burning:[/b]

Founder Reward Wallet: 100,000,000 out of 200,000,000

Future Funding Wallet: 396,901,858 out of remaining 793,803,716 AMPs*

User Reward Wallet: 100,000,000 out of 200,000,000 AMPs

Content Creator Wallet: 75,000,000 out of 150,000,000 AMPs

Bounty Wallet: 55,000,000 out of remaining 220000000 AMPs**

Intermediary Bounty Wallet: 4207079.25 AMPs***

 

Total Burnt: 731,108,937 AMPs[/b]

[...]



This is great news i think the crowdsale will be a huge success.

When crowdfunding start amp will reach 100k, when it over, 150k+

I dont think we will see 100 / 150 k that fast, that wont be sustainable in any way.

Maybe in a year or so.

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September 19, 2016, 04:17:53 PM
 #2137

Greg Meredith speaking at Devcon 2 today in Shanghai. https://ethereumfoundation.org/devcon/?session=a-compositional-casper-machine


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September 19, 2016, 04:20:26 PM
 #2138

This will be a great sucess, people who dont get in will cry.

All market bleeding, but amp get the same price. Awesome

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Any store can buy, sell, and accept Crypto


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September 19, 2016, 04:35:53 PM
 #2139

Synereo Burns its Premined Cryptocurrency Valued at $140m



http://www.financemagnates.com/cryptocurrency/trading/synereo-burns-premined-cryptocurrency-valued-140m/

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Sam123
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September 19, 2016, 05:13:54 PM
 #2140

Seems a great project but I believe it's overpriced. Still the Founder have  100,000,000. Good luck

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