[ANN] AMP - The Currency That Powers Your Attention On Synereo

[DecentralizeEconomics]

Or why the price is crashing? And steem is at 20 million, unreal.

Imo, only the uninformed or people who need the money are selling at these prices.  Steem is a joke.  Don't pay it any mind.  It isn't even a legitimate competitor.

I thought I was clear enough and frankly should be all self explanatory.
lets try and explain the obvious:
-there is now no incentive to buy AMPs from the exchanges knowing that soon they can be bought for cheaper from a crowdsale (they must be cheaper or ppl would just buy them from the market instead) .
-there is no incentive to hold AMPs as they can now be dumped and bought cheaper at the crowdsale. infact there is a clear incentive to dump them to get an even better price at the crowdsale.
-You are also "shooting yourself in the foot" as AMP prices will remain rock bottom which means you have less money for development (considering a large chunk of AMPs are supposed to fund devs).
I suggest you speak to Dor. in the meanwhile I had to get out of AMP. simply not worth keeping with a crowdsale looming. I'll surely buy into the next crowdsale but only if it will be the last one.

I don't know why you think the upcoming AMP sale in a few months will be below or at market prices.  Regardless of what they set the price at, I'm not selling any of my AMPs.  Dor has stated on the hangouts that the mass majority of the original participates in the first crowdsale haven't sold any of their AMPs.  I think that trend will continue.  Personally, I think the AMP price at the crowdsale will be much higher than the current market price of ~3 cents an AMP, because very few are selling.  I'm expecting a list price somewhere around what Ethereum did @ 1000 Eths a BTC or 1000 AMPs a BTC.  I could be wrong, but it seemed to work well for Ethereum.  Such a list price would cause the exchange rate to quickly shoot up to that value, because of the low sell side volume.

[1714245064]

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[1714245064]

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[SynereoCommunity]

-there is now no incentive to buy AMPs from the exchanges knowing that soon they can be bought for cheaper from a crowdsale (they must be cheaper or ppl would just buy them from the market instead) .
-there is no incentive to hold AMPs as they can now be dumped and bought cheaper at the crowdsale. infact there is a clear incentive to dump them to get an even better price at the crowdsale.
-You are also "shooting yourself in the foot" as AMP prices will remain rock bottom which means you have less money for development (considering a large chunk of AMPs are supposed to fund devs).
I suggest you speak to Dor. in the meanwhile I had to get out of AMP. simply not worth keeping with a crowdsale looming. I'll surely buy into the next crowdsale but only if it will be the last one.

Ok, first, the most obvious: Of course I'm speaking here after having been briefed by the CEO and other relevant Synereo people.

The rest is your own opinion and speculation.  There's nothing wrong with that, but it does not make a good argument.

"Decentralized Economics" pretty much hit the nail on the head: the price will be higher than the market, if the market is "broken" (has any missing requirements).  No one is really selling, they are putting small offers up (limited to cover transaction fee) trying to keep the price down.

The model that can be made from your assumptions fails for this reason:

No one who wants to invest, say $10,000, is going to buy AMPs in penny increments.  Even if they did, there are transaction fees, and the price would start to go up with every purchase, and it would soon be higher than the fixed rate anyway!

Let's say AMPs are at $.10 each - that's 100,000 AMPs.  The cheap prices you see on the trader's market are for 40 AMPs, 120 AMPs, etc.  You'd have to make 1000s of those purchases.

On the other hand, if Synereo sells AMPs at $.10, how long do you think it would be before places like Poloniex would move to that price?  I'd say about 24 hrs.

The reasons people will hold AMPs are the same: belief in the long term prospects of the final product.  The Beta phase is a waiting game, and the people who are in during that part are looking at probably 2-3 years before the maximum potential is reached.  Of course, projects like this can fail too, so we are doing everything we can to make sure that does not happen. 

[overthetop2011]

Ok, first, the most obvious: Of course I'm speaking here after having been briefed by the CEO and other relevant Synereo people.

The model that can be made from your assumptions fails for this reason:

No one who wants to invest, say $10,000, is going to buy AMPs in penny increments.  Even if they did, there are transaction fees, and the price would start to go up with every purchase, and it would soon be higher than the fixed rate anyway!

Let's say AMPs are at $.10 each - that's 100,000 AMPs.  The cheap prices you see on the trader's market are for 40 AMPs, 120 AMPs, etc.  You'd have to make 1000s of those purchases.

On the other hand, if Synereo sells AMPs at $.10, how long do you think it would be before places like Poloniex would move to that price?  I'd say about 24 hrs.

The reasons people will hold AMPs are the same: belief in the long term prospects of the final product.  The Beta phase is a waiting game, and the people who are in during that part are looking at probably 2-3 years before the maximum potential is reached.  Of course, projects like this can fail too, so we are doing everything we can to make sure that does not happen. 

Good point, and the investment to the synereo team is much more better than buying AMPs from the exchangs, because the funds could help the project keep growing.

[DecentralizeEconomics]

in the meanwhile I had to get out of AMP. simply not worth keeping with a crowdsale looming. I'll surely buy into the next crowdsale but only if it will be the last one.

Ok, first, the most obvious: Of course I'm speaking here after having been briefed by the CEO and other relevant Synereo people.

The rest is your own opinion and speculation.  There's nothing wrong with that, but it does not make a good argument.

"Decentralized Economics" pretty much hit the nail on the head: the price will be higher than the market, if the market is "broken" (has any missing requirements).  No one is really selling, they are putting small offers up (limited to cover transaction fee) trying to keep the price down.

The model that can be made from your assumptions fails for this reason:

No one who wants to invest, say $10,000, is going to buy AMPs in penny increments.  Even if they did, there are transaction fees, and the price would start to go up with every purchase, and it would soon be higher than the fixed rate anyway!

Let's say AMPs are at $.10 each - that's 100,000 AMPs.  The cheap prices you see on the trader's market are for 40 AMPs, 120 AMPs, etc.  You'd have to make 1000s of those purchases.

On the other hand, if Synereo sells AMPs at $.10, how long do you think it would be before places like Poloniex would move to that price?  I'd say about 24 hrs.

The reasons people will hold AMPs are the same: belief in the long term prospects of the final product.  The Beta phase is a waiting game, and the people who are in during that part are looking at probably 2-3 years before the maximum potential is reached.  Of course, projects like this can fail too, so we are doing everything we can to make sure that does not happen.  

[extee]

@decentralizedeconomics
don't worry I saw his post just minutes after he made it  and actually your previous post had already made me jump back in a bit as the doubt arose. so thank you. although i had to get in a bit higher.. can't complain.

[DecentralizeEconomics]

@decentralizedeconomics
don't worry I saw his post just minutes after he made it  and actually your previous post had already made me jump back in a bit as the doubt arose. so thank you. although i had to get in a bit higher.. can't complain.

Stay cool my babies.

Imo, right now AMPs are a steal.  3 1/2 cents is highway robbery.  I remember buying AMPs back when they were ~600 sats on Bittrex.  That was a real bargain.  Remember, Synereo is facing off against corporatized social media who has BIG MONEY behind them.  These entities cannot compete against a decentralized social network offensively, because it is impossible for them to turn their monetization model around without destroying their company.  However, they can put up a defensive fight in an attempt to retain userbase with their capital.  Synereo, both the company and the social network, will require a lot of capital to attract new users to the network.  Synereo LTD, the company, is more dependant on this than the decentralized social network, because, without a userbase to monetize, they will not survive.  Synereo, the decentralized social network, and AMPs will remain regardless of initial adoption.  This means that they cannot afford to sell AMPs cheaply, because doing so would be fatal.  If I was running Synereo, I'd list AMPs for as much as I think the market would bear.  The market thought 1000 Eths per BTC was reasonable.  I think 1000 AMPs per BTC is equally reasonable.  Seeing that Eth is now at $14, most people would jump at the chance to take that offer today.

[SynereoCommunity]

We're LIVE - come and join us in the weekly hangout!

https://zoom.us/j/2549127023



 

[SynereoCommunity]

We're LIVE - come and join us in the weekly hangout!

https://zoom.us/j/2549127023

second part is here: https://zoom.us/j/6853551826



 

[Haunebu81]

Price is jumping up. Any news coming out, or what?

[SynereoCommunity]

We're LIVE - come and join us ( https://zoom.us/j/2522161381 ) in the weekly hangout!




 or watch on https://www.youtube.com/watch?v=H0RRY65SEm4

[DecentralizeEconomics]

Price is jumping up. Any news coming out, or what?

People are waking up.

[overthetop2011]

Price is jumping up. Any news coming out, or what?

People are waking up.

Not yet. this project is far from the beginning to set up its real community,I think. 

[SynereoCommunity]

Not yet. this project is far from the beginning to set up its real community,I think. 

Do you mean the user community of the social app, when it's up?

Or something else?

[DecentralizeEconomics]

Price is jumping up. Any news coming out, or what?

People are waking up.

Not yet. this project is far from the beginning to set up its real community,I think. 

I think you're right.  Maybe, I should have phrased it as "A person just woke up", because the amount of AMPs bought that caused the price to go up +30% was negligible.  You total it up, and it was around 50 BTC.  That's nothing a single individual couldn't have easily done.  Personally, imo, I think we will look back at these price levels and laugh.  Ethereum is at $14 right now and AMPs are a nickel.  That's pocket change.

[m4nki]

Where can I view the past community hangouts?

[overthetop2011]

Where can I view the past community hangouts?

Just by searching "Synereo" on youtube website.

[Palaxidon]

I still cannot understand what is total number of AMP´s in circulation???

[SynereoCommunity]

I still cannot understand what is total number of AMP´s in circulation???

Actually circulating?  Look at the volume on trading markets - not much is moving.

We have a public spreadsheet where the AMP records are kept:
https://docs.google.com/spreadsheets/d/1r1G-ROS4vgHK84qfn1CBIxuXZQCCvIicCTQSxW1T_mo/edit#gid=1636659920

Go to the "Future Funding" wallet tab (bottom), and at the top of the page, it shows the number of AMPs released, plus the total community rewards have been about 6.6 million AMPs so far.  These 2 wallets add up to about 15.3 million AMPs.


Just a reminder: the typical stats that apply to, say the stock market, and price evaluation do not directly apply to cryptocurrency.

[overthetop2011]

Not yet. this project is far from the beginning to set up its real community,I think.  

Do you mean the user community of the social app, when it's up?

Or something else?

Yes , I mean the first one. and we also need accumulate more attetion on BTT site from now on before the apps up.

48 pages is something 0ne-day vol of other hotter projects.

But in another perspective, personally I consider this kind of situation as a good sign for early investors becuase of the great potential.

[SynereoCommunity]

But in another perspective, personally I consider this kind of situation as a good sign for early investors becuase of the great potential.

Yes, me too. 

See this post:
https://bitcointalk.org/index.php?topic=995987.msg15000774#msg15000774