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Author Topic: [ANN] AMP - The Currency That Powers Your Attention On Synereo  (Read 841497 times)
Dave5
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December 03, 2016, 07:23:37 PM
 #3581

Could we trust Greg to deliver?

This was posted on Dec 1, on slack by Ed Eykholt (LivelyGig):

"My team and I attempted to build the LivelyGig product and then the Synereo Social product alpha release over the last year and a half.  During this time, LivelyGig had two contracts with Synereo -- one formally signed and the other one verbally agreed for most of the terms. I’m thankful to Dor and Greg for all the opportunities that provided. The current server stack was disappointing to me, relative to the claims Greg made about it. It had issues with stability, scalability, predictability, and not having a documented API or query syntax for a long period of time. Those issues were in a standalone node configuration. Just over the past month most of those issues have been addressed.  Greg was slower than I expected to address these problems or even acknowledge how serious they were for creating a product. Multi-node work is still progressing, and I wasn't personally disappointed on that front. Integration with Omni Layer is still progressing.  Developers were frustrated and had a hard time adopting to the pi-calculus inspired programming paradigm.  And yet, I still had faith that a meaningful alpha phase could happen.  I understand completely why Dor was disappointed in the tech stack and the past assertions and promises Greg made about it.Because the side-by-side architecture (i.e., SpecialK server stack for content along with Omni Layer for AMP) was becoming more problematic and because of the growing interest in RChain, Greg decided and announced that the Synereo Social alpha “product” would be for collecting Ux feedback and not really to become a product.  Perhaps Dor and the whole of the Synereo community never really accepted or internalized that the alpha would not be migrated smoothly into a real product.  Greg's decision and focus also meant to me that the LivelyGig product, which relies on most of the same server features, would be difficult to finish on the SpecialK server stack.  Because of that and because of the interpersonal conflicts between Greg & Dor made it difficult for me to plan just about anything with Synereo Ltd., I decided to stop building LivelyGig on the SpecialK stack...."
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December 03, 2016, 07:51:17 PM
 #3582

Those thinking AMPs will still drop a lot... It's possible, it doesn't have much further to drop at all... People have irrationally sold this down to $3 million marketcap, essentially 1/10th the market cap of dogecoin ffs... Yes, it could go to 1-2m marketcap... But honestly, if it goes to that range along with coins like "clams" and "monacoin", then the market truly is retarded and making predictions of any kind is futile when met against such retardation. It's already absurdly low market cap, even if they were to fire half the people and throw away all the work they've done thus far, the market cap should STILL be higher to at least equal the amount of funding they've received. The $3 million valuation is absurd when you consider the amount of work that has already been put into the project, which would be much much higher given standard market dev rates.
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December 03, 2016, 08:17:17 PM
 #3583

Those thinking AMPs will still drop a lot... It's possible, it doesn't have much further to drop at all... People have irrationally sold this down to $3 million marketcap, essentially 1/10th the market cap of dogecoin ffs... Yes, it could go to 1-2m marketcap... But honestly, if it goes to that range along with coins like "clams" and "monacoin", then the market truly is retarded and making predictions of any kind is futile when met against such retardation. It's already absurdly low market cap, even if they were to fire half the people and throw away all the work they've done thus far, the market cap should STILL be higher to at least equal the amount of funding they've received. The $3 million valuation is absurd when you consider the amount of work that has already been put into the project, which would be much much higher given standard market dev rates.

This is true

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December 03, 2016, 08:35:05 PM
 #3584

People have irrationally sold this down to $3 million marketcap
Given the current mess between developers and CEO I think sellers are being rational. If price wouldn't have go down so much since I bought AMP, I would have sold also.
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December 03, 2016, 08:36:21 PM
 #3585

Synereo did not hold to the commitment of burning 2nd crowdsale unsold AMPs, did they?

They will be burned shortly.

Ok. Thanks for the info. I know much important things are on the table at the moment, but we must always hold to our promises whatsoever.

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AppCoins










[.
WHITEPAPER
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CROWDSALE
]
MissionPhailed
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December 03, 2016, 08:44:53 PM
 #3586

What can I say; really unfortunate developments these days. Not gonna sell my AMP's though, as this would be highly illogical as my stake has been reduced to around 40% of iets original value. It is clear that there's some cleaning to be done in the AMP team. Then this project could avoid a total nosedive and perhaps gain some momentum again.
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December 03, 2016, 09:07:19 PM
 #3587

What can I say; really unfortunate developments these days. Not gonna sell my AMP's though, as this would be highly illogical as my stake has been reduced to around 40% of iets original value. It is clear that there's some cleaning to be done in the AMP team. Then this project could avoid a total nosedive and perhaps gain some momentum again.

I think it's also the team's goal to resolve the problem and get back to work. At least it should be after seeing the community and market response. Someone has to step over his ego. It's not pretty but if everybody can take a step closer to each other, it's easily possible. And if a clear cut happens it's a good thing too. Less uncertainty. I'm down more than 50% but I'm tired of looking at prices and volume. This project simply needs to fulfill it's potential. Everything else is just a temporary misalignment.   
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December 03, 2016, 09:18:04 PM
 #3588

https://blog.synereo.com/2016/12/03/synereo-update/
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December 03, 2016, 09:26:38 PM
 #3589

People have irrationally sold this down to $3 million marketcap
Given the current mess between developers and CEO I think sellers are being rational. If price wouldn't have go down so much since I bought AMP, I would have sold also.

It is irrational though, because even if you believe there's a 50% chance the project will be disbanded, that means there's a 50% chance it'll at least return to 20-30m range at some point. This isn't double or nothing, this is more like 5x-20x or nothing, so in order for the sell to be rational (unless you aren't diversified or NEED the money NOW) you must assume there is a FAR greater chance of the project failing and going to 0 than even halfway succeeding and returning to a still MEAGER 20 million market cap (still lower than the shit project steem or dogecoin) for a 6x return. It could stagnate for a while since there's no news, or drop a bit more short term - but as long as they just release the social platform at some point, it will not remain at 3-4m market cap lol. If Synereo were to stay in this range (not likely), then I'm not expecting a 20x spike for beta like we saw with steem after their beta and steem payout update, rather I would expect closer to 50-100x, because the price has already been beat down so much. This isn't hype or irrational thinking either, if Steem reached nearly $400m marketcap, Synereo should in theory be able to spike much much higher as the two projects are like comparing tinker toys to the eiffel tower. I never would have guessed Steem could even reach 100m cap personally... I mean it's a project with essentially 2 people who have no clue that setting a 700% inflation rate is not a good idea and will drive investors and development away lmao.
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December 03, 2016, 09:57:55 PM
 #3590

i'm still for AMP but all this shit coming to light in the last day and a bit is disheartening.  you guys better get your shit straight asap.  it's almost to the point where i wonder if it's all 'setup' to look like this to 'match' the whalebots dumping the coin to fucking hell. lol it's crypto and it wouldn't shock me in the least.  then we'll see a sweet recovery come early 2017.  least it BETTER fucking recover!

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December 03, 2016, 10:15:58 PM
 #3591

A statement from the Synereo team, signed by every member.

https://blog.synereo.com/2016/12/03/synereo-update/


Dear Synereo Supporter,

The Synereo Team is committed to keeping you up to date on recent, ongoing developments.

 

Following the recent funding campaign, Synereo’s CTO has put forward a proposal where he requested to be allocated funds so that he can continue working on future technology, separately from the Synereo team, while transitioning away from the existing tech stack Synereo relied on so far and without having delivered a stable and usable product.

The Synereo Team is committed to taking this proposal seriously and thoroughly reviewing its value to our investors and supporters. It is our duty to make sure that funds are allocated responsibly and with the proper level of accountability.

 

We want to assure our community of supporters, investors, contributors and followers that regardless of what happens next, the rest of the Synereo team will work hard towards delivering functioning, real-world solutions that utilize AMPs and provide them with backing.

This has been our goal from day one, and it has not changed; now, with the incredible amount of resources in our possession, our ability to do just that has increased tremendously.

Synereo has 3 full-stack developers, 1.5 front-end developers, and has 2 other developers with rich backgrounds in math, logic and physics, rejoining the project. We have also onboarded a new Technical Program Manager with 14 years of experience in the tech world.

 

The team is working on a plan forward and will present it soon. We will be making a distinct shift in attitude, moving towards quick & iterative development strategy that normal users can feel – so that you can begin trusting our product rather than merely trusting our vision.

More to come soon,

 

Thank you for your attention,

— The Synereo Team

Dor, Yaniv, R Violini, Noy, Tim, Joeri, Henry, Beerit, Gary, Julian, MJ

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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December 03, 2016, 10:18:48 PM
 #3592

The situation is certainly a mess... but you know what?  Up / Down / Sideways / Just keep churning and trading.

The only bottom is zero, but no one truly knows where it goes unless the insiders bail. Just stating the obvious.

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December 03, 2016, 10:20:01 PM
 #3593

A statement from the Synereo team, signed by every member.

https://blog.synereo.com/2016/12/03/synereo-update/


Dear Synereo Supporter,

The Synereo Team is committed to keeping you up to date on recent, ongoing developments.

 

Following the recent funding campaign, Synereo’s CTO has put forward a proposal where he requested to be allocated funds so that he can continue working on future technology, separately from the Synereo team, while transitioning away from the existing tech stack Synereo relied on so far and without having delivered a stable and usable product.

The Synereo Team is committed to taking this proposal seriously and thoroughly reviewing its value to our investors and supporters. It is our duty to make sure that funds are allocated responsibly and with the proper level of accountability.

 

We want to assure our community of supporters, investors, contributors and followers that regardless of what happens next, the rest of the Synereo team will work hard towards delivering functioning, real-world solutions that utilize AMPs and provide them with backing.

This has been our goal from day one, and it has not changed; now, with the incredible amount of resources in our possession, our ability to do just that has increased tremendously.

Synereo has 3 full-stack developers, 1.5 front-end developers, and has 2 other developers with rich backgrounds in math, logic and physics, rejoining the project. We have also onboarded a new Technical Program Manager with 14 years of experience in the tech world.

 

The team is working on a plan forward and will present it soon. We will be making a distinct shift in attitude, moving towards quick & iterative development strategy that normal users can feel – so that you can begin trusting our product rather than merely trusting our vision.

More to come soon,

 

Thank you for your attention,

— The Synereo Team

Dor, Yaniv, R Violini, Noy, Tim, Joeri, Henry, Beerit, Gary, Julian, MJ

Quoted for new page.

Synereo: liberating the Internet from abusive business models.

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December 03, 2016, 10:39:18 PM
 #3594

Many investors lost faith into this project. Hope you guys can restore it.
Although I want to know where a part of the ico funds went.
From 4.7m there is only 3.1m left where did the 1.6m go?
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December 03, 2016, 10:46:42 PM
 #3595

Many investors lost faith into this project. Hope you guys can restore it.
Although I want to know where a part of the ico funds went.
From 4.7m there is only 3.1m left where did the 1.6m go?

-- Chargebacks on BTTF
-- Already spent throughout this year (the 4.7 figure includes the pre-sale)
-- YUNBI refused to send us the funds they raised
-- A yet undetermined amount of tax to be paid on AMPs sold, but budgeted according to our projected burn rate






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December 03, 2016, 11:02:43 PM
 #3596

The one sided picture I see largely being painted here is simply wrong.

Many investors, including myself, bought into a revolutionary design of a provably correct, provably private, provably secure internet based on the formal asynchronous process calculus.  The internet is after all a network of asynchronous processes and process calculus it the right tool to constrain its behaviour.  The Dor is apparently diverging from that vision.

During initial development, deficiencies were discovered in achieving all the goals of synereo. Greg had been overly optimistic about the utility of his legacy code. Plus it was clear that existing blockchain technology could not scale the network as originally envisioned.  With full support of the community effort was diverted from alpha to the development of the Casper protocol and RChain which would have far greater utility for distributed applications generally than the original design.

Investors in this round were sold the RChain solution and many are angry that Synereo is changing its course now that the funds are in.

The second fallacy being propagated here is that Greg is incompetent and cannot deliver working code. Greg is an outstanding computer scientist who constantly produces working code that often runs the first time without error. He has been doing this in hangouts weekly. He has an open coding style under the constant scrutiny of other professionals. He often amazes us.

It is true the alpha has problems. It has served as a great proof of concept and all the basic capabilities have been tested individually.  It has not been Greg's major focus since the decision to rearchetect a solution. But that he has not delivered anything is total garbage.  Dozens of community members have run nodes and is supporting publically accessible community nodes. It is expected key issues will be fixed soon.
http://i.imgur.com/cbv4ZZV.jpg
http://divvydao.org/wp-content/uploads/2016/12/synereonodeusers-768x452.jpg
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December 03, 2016, 11:19:41 PM
 #3597

What can I say; really unfortunate developments these days. Not gonna sell my AMP's though, as this would be highly illogical as my stake has been reduced to around 40% of iets original value. It is clear that there's some cleaning to be done in the AMP team. Then this project could avoid a total nosedive and perhaps gain some momentum again.

I think it's also the team's goal to resolve the problem and get back to work. At least it should be after seeing the community and market response. Someone has to step over his ego. It's not pretty but if everybody can take a step closer to each other, it's easily possible. And if a clear cut happens it's a good thing too. Less uncertainty. I'm down more than 50% but I'm tired of looking at prices and volume. This project simply needs to fulfill it's potential. Everything else is just a temporary misalignment.   

Yep. Good thing communication from the team hasn't ceased and the will is certainly still there to Make Synereo Great Again. This ship may have hit an iceberg or two, but is still far from hitting the bottom of the ocean. No doubt though it'll take quite some time to regain the trust of a wider public for the project once more ... !
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December 03, 2016, 11:22:54 PM
 #3598

What about presenting some solutions right now and let the AMP holders vote by their holdings afterwards ?

I think this will be the best way since the community and supporters of this project are basically the AMP holders who got the money on spot.

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December 03, 2016, 11:27:43 PM
 #3599

It is irrational though, because even if you believe there's a 50% chance the project will be disbanded, that means there's a 50% chance it'll at least return to 20-30m range at some point. This isn't double or nothing, this is more like 5x-20x or nothing, so in order for the sell to be rational (unless you aren't diversified or NEED the money NOW) you must assume there is a FAR greater chance of the project failing and going to 0 than even halfway succeeding and returning to a still MEAGER 20 million market cap (still lower than the shit project steem or dogecoin) for a 6x return. It could stagnate for a while since there's no news, or drop a bit more short term - but as long as they just release the social platform at some point, it will not remain at 3-4m market cap lol. If Synereo were to stay in this range (not likely), then I'm not expecting a 20x spike for beta like we saw with steem after their beta and steem payout update, rather I would expect closer to 50-100x, because the price has already been beat down so much. This isn't hype or irrational thinking either, if Steem reached nearly $400m marketcap, Synereo should in theory be able to spike much much higher as the two projects are like comparing tinker toys to the eiffel tower. I never would have guessed Steem could even reach 100m cap personally... I mean it's a project with essentially 2 people who have no clue that setting a 700% inflation rate is not a good idea and will drive investors and development away lmao.

Very nice but most people will go away from AMP until they start delivering and AMP price gets some momentum. That's how traders do their job. Given the current BTC rise in combination with the Synereo mess, it is more than logical for people to run away and step back in when times are better. 
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December 04, 2016, 12:05:14 AM
 #3600

Quote
Very nice but most people will go away from AMP until they start delivering and AMP price gets some momentum. That's how traders do their job. Given the current BTC rise in combination with the Synereo mess, it is more than logical for people to run away and step back in when times are better.  

Ehh... 90% of traders lose money for a reason. Most look at things from a linear perspective. Just because BTC HAS been doing good this past month doesn't mean it'll continue to do so, and just because AMPs has been falling doesn't mean it'll continue to do so. Most traders, as you say, buy when something has already been doing good, and sell when something has already dumped... Just because most traders do this doesn't make it rational. Again, the majority of traders lose money, something which is determined by irrational actions led by emotion. Oh AMPs been dumping for days?! I THINK I'LL SELL!! What, BTC is double what it was a year ago? Best time to buy! Nope... Buy low, sell high, look at things from a non-linear perspective. No one can read the future, that's why valuation and knowing what something is truly worth if successful is so important.
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