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

[Elokane]

one thing you have to think of is that the success of this project would be immensely more profitable to the founders as well as the investors than a $1.2 million quick cash grab.  So they are extremely motivated to push the project forward.

That`s the point I currently do not quite get. I "invest" when I buy some cryptocoins and have to hope that they gain in value. It is quite possible that the site is a success (=many users), but the coins drop in value or do not rise as much as actual shares in the company.

As Hector said, AMPs have inherent value on the network.
http://blog.synereo.com/2015/03/22/amp-economy/

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[tbearhere]

No mining ..no thx.

[sidhujag]

So if it takes 5 yrs as aggressive timeline to take over facebook $200 billion then the price of each amp would be around $153 amp per usd with 1.3 billion coins.. And price would have to rise 5% per year.. See what im saying about risk reward? You think the price of each amp will be above $153usd within 5 years??. Seems to me its a case of someone having an innovative project but far too greedy..

Jag,

$1.2M is the bare-minimum to be able to develop an application as a part of the complex project you see before you.
How much would you suggest we raise and under what different conditions?

You guys are really fucking smart, yes, but you're going about this in a very idiotic fashion, doomed for quick failure because you don't know this community.

JL

Jesse,

I do know this community. I've been here from day one. I've participated in all the major (and many of the minor) crowdsales myself.
This is the community that has given 31000 BTC to a project that had zero code and 200% promises.
It's the community that has given $6-8M to a project that has been in development for 8 years before it had anything working to show for it.
It's the community that has thrown good money at various empty promises by unskilled developers operating without any legal structure and has allowed their projects to rise to ludicrous positions in coinmarketcap without ever delivering a single piece of working technology.

It's also the community known for its insane negativity and desire to spread FUD at the slightest sign of problem - and often without.

If you look at the threads for the successful projects that have come before us, you'll see the same pattern of extreme negativity, peppered with those who are genuinely interested in the project or that just chimed in to voice their support. When you like a project and wish to support it, there's not much more to say about it!

We believe that most people here understand that we have a very solid plan for developing a platform that marks an evolution in the way communications are done on the Internet. We believe that most people understand that $1.2m is on the low-end of resources required for the task, and appreciate that we're not trying to unload of all our tokens on the market for a quick cash grab, like so many other projects have done before, rather saving them until we reach future milestones and selling them at a higher price - to everyone's benefit. And if you don't - I advise you to ask your investment-savvy friends and inquire how much is usually invested at this stage of a project's life, where there's stable code with a proven track record in commercial services.

I dont mind the figure at all.. because seems you do have some cohesion in the project through management and engineering.. what I do mind is the valuation you set upfront to the ipo investors... if you wish to raise $1.2 million it will have to involve more AMPS.

[Elokane]

No mining ..no thx.

We do have "mining". Both PoSC and for contributing storage and bandwidth.
http://cointelegraph.com/news/113765/synereo-kicks-off-crowdsale-for-its-decentralized-facebook-platform

[hector3115]

A 6.5 million dollar valuation to me doesn't sound crazy at all when you are talking about this being a legitimate contender to Facebook which has a market cap of 225 billion.  They would have to capture a meager .002% of the market to achieve that market valuation

[crypti]

If i understand right, companies pay users to look at adwords.
But usually only very poor users looks at adwords for some money.
What is the conversion from such advertising?

[Elokane]

Sup crypti! How's the project going?

If i understand right, companies pay users to look at adwords.
But usually only very poor users looks at adwords for some money.
What is the conversion from such advertising?

Our system is incredibly more complex than that. Nobody is "paid" to watch "ads".
Any type of content can be AMPLIFIED on the network. This includes party invitations from your friend, a political blog post from a writer you like, or your mom wanting to spread embarrassing pictures of you to her network.

You can opt-out of any aspect of this (say, promoted posts from that blogger, or from some business you dislike, or from one community you're a member in, or altogether), but we believe that this is a mechanism that will contribute to the social networking experience in general rather than detract from it.

We go into detail about this at the beginning of our whitepaper. We discuss the different attributes of the system and how they balance one another.
http://www.synereo.com/whitepapers/synereo.pdf

[Elokane]

WE ARE LIVE!

https://crowdsale.synereo.com/

Note again that our sale is supervised by the Omni Foundation. They have control of all issued AMPs, which cannot be distributed without their approval.

Our sale is also hosted on their site.
http://www.omnilayer.org/

[sidhujag]

A 6.5 million dollar valuation to me doesn't sound crazy at all when you are talking about this being a legitimate contender to Facebook which has a market cap of 225 billion.  They would have to capture a meager .002% of the market to achieve that market valuation

its 2.8% not 0.002% how did you get that? also that is the STARTING ipo valuation that the investors pay here... and its $1.3 million something they are asking for.. if they surpase facebook each AMP must be worth $135USD... so if they get to %0.002 of that means they reach $45 million market cap and that is only about 2x the current ipo price...

[hector3115]

They created 1 billion AMPs.  The amps are going for 154/1 USD.  Therefore the market cap would be 1 billion divided by 154 equals roughly 6.5 million.  That means the whole network can be bought for 6.5 million which is the market cap.

[sidhujag]

only 18.5% of the coins are being sold in IPO... who knows what the rest of them will be for.. market cap is $1.2 million to start for IPO investors...

[Elokane]

Everyone knows what they are for.

https://docs.google.com/document/d/1zLBm8OHt5-81flihJ6iSKEm0WbRa6FL0mJ5ivBN34Po

[sidhujag]

Everyone knows what they are for.

https://docs.google.com/document/d/1zLBm8OHt5-81flihJ6iSKEm0WbRa6FL0mJ5ivBN34Po

WHat they will go for.

[hector3115]

Frankly I'm a little disappointed in the bitcoin community.  This is a decentralized Facebook.  This is one of the reasons I got into bitcoin for the possibility to decntralize huge industries.

Its a sad state of affairs if we can't fund this project.  Bitcoin is so much more than a currency people.

Its power to the people

[Momimaus]

Sup crypti! How's the project going?

If i understand right, companies pay users to look at adwords.
But usually only very poor users looks at adwords for some money.
What is the conversion from such advertising?

Our system is incredibly more complex than that. Nobody is "paid" to watch "ads".
Any type of content can be AMPLIFIED on the network. This includes party invitations from your friend, a political blog post from a writer you like, or your mom wanting to spread embarrassing pictures of you to her network.

You can opt-out of any aspect of this (say, promoted posts from that blogger, or from some business you dislike, or from one community you're a member in, or altogether), but we believe that this is a mechanism that will contribute to the social networking experience in general rather than detract from it.

We go into detail about this at the beginning of our whitepaper. We discuss the different attributes of the system and how they balance one another.
http://www.synereo.com/whitepapers/synereo.pdf

Maybe you should explain it in an easy way for us.

It is easy to throw big facebook numbers around, but I am not satisfied with this.
It is hard to understand how you monetize your network. Even why you need AMPs.

So companys come to facebook and pay for advertising. Who will come to pay for the AMPs?

[Momimaus]

Frankly I'm a little disappointed in the bitcoin community.  This is a decentralized Facebook.  This is one of the reasons I got into bitcoin for the possibility to decntralize huge industries.

Its a sad state of affairs if we can't fund this project.  Bitcoin is so much more than a currency people.

Its power to the people

At the moment it´s not power to the people. It´s money from people to scammers and early adopter dumpers. Most people are loosing money due to cryptocurrencys.

I think it´s good that people think before they invest.

[McAndy]

Sup crypti! How's the project going?

If i understand right, companies pay users to look at adwords.
But usually only very poor users looks at adwords for some money.
What is the conversion from such advertising?

Our system is incredibly more complex than that. Nobody is "paid" to watch "ads".
Any type of content can be AMPLIFIED on the network. This includes party invitations from your friend, a political blog post from a writer you like, or your mom wanting to spread embarrassing pictures of you to her network.

You can opt-out of any aspect of this (say, promoted posts from that blogger, or from some business you dislike, or from one community you're a member in, or altogether), but we believe that this is a mechanism that will contribute to the social networking experience in general rather than detract from it.

We go into detail about this at the beginning of our whitepaper. We discuss the different attributes of the system and how they balance one another.
http://www.synereo.com/whitepapers/synereo.pdf

Maybe you should explain it in an easy way for us.

It is easy to throw big facebook numbers around, but I am not satisfied with this.
It is hard to understand how you monetize your network. Even why you need AMPs.

So companys come to facebook and pay for advertising. Who will come to pay for the AMPs?

First of all, AMP, if we ignore the advertising aspect for a sec, allows you to amplify any type of content over the network. There is certain current strength, based on your Reo (think of it as influence , relevance, reputation) that delivers content. AMPs is what can push it beyond that "natural" force of delivery. But what it means for content creators and advertisers, is that they can apply it to distributing songs, books, videos streams, pictures, reaching a wider audience. But the AMPs don't go to some higher entity (like what happens when you pay Facebook for advertising) the AMPs are injected into Synereo and end up compensating the audience for the attention they allocated to your content.

So if Tesla wants to add Synereo into the marketing mix and allocated Budget X to promoting the new offering to car enthusiasts, they put AMPs behind their content to amplify their reach. The more relevant and higher quality the message, the less AMPs will be wasted since the attention allocated by the audience is more "natural" in the first place. But since you are grabbing that attention for your own needs, you still have to compensate the person. So this audience ends up with AMPs of their own as as natural result of this process.


Nd

[jman887854]

We are in touch with various escrow service providers to provide our backers with a smooth and secure solution.

I guess you couldn't find an escrow service?  I guess you won't be taking my money either.

[xrnath]

We are IN touch WITH various escrow service providers TO provide our backers WITH a smooth AND secure solution.

I guess you couldn't find an escrow service?

Congratulations for reaching todays milestone, day 1 of the Crowdsale.
I would also appreciate an update regarding Escrow. I can only see options to send BTC or wire transfer at this stage. TYIA.

[Macno]

Could one send BTC from a mobile wallet like Mycellium or the Schildbach app?