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

[m3110w]

Hello Elokane,

I purchased some AMPS. I presume the AMPS address I sent my btc to is a unique address tied to my email account? Just want to confirm. Thanks,

[1715211184]

1715211184

[1715211184]

1715211184

[1715211184]

1715211184

[1715211184]

1715211184

[1715211184]

1715211184

[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?

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

Alright thank you.

So the advertisers can only post something, they can´t add banners,etc., right?

[SynereoCommunity]

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

So long as you control the private key for your BTC address it's fine. We do recommend Omniwallet as the AMPs will be sent there at the end of the crowdsale.

[Elokane]

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.

We have not found any escrow agent we could trust and eventually decided one is not necessary. We are an established company under a strict jurisdiction and are bound by the terms and conditions of the sale. We cannot (and would not) "run away with the funds".

We've instead elected to partner up with the Omni Foundation and have them act as trustees for the AMPs as well as supervise the crowdsale. We believe that the structure we have set provides our backers with a smooth and secure solution.
What is the service you would have wished to receive from an escrow service provider? Is there one that you think would give you a greater assurance than a legally binding contract?

[SynereoCommunity]

Hello Elokane,

I purchased some AMPS. I presume the AMPS address I sent my btc to is a unique address tied to my email account? Just want to confirm. Thanks,

The address you sent your BTC to is also a BTC Address. If you look at Blockchain.info you will be able to trace the transaction.
That is our public BTC Address that allows us to receive contributions as well as tracking them together with Omni.

[leithaus]

I've managed software products and projects for a long time.  One of my early ones was the standardization of the Unified Modeling Language.  Way back in 1996 the notion of generating working code from specification models seem far-fetched to me, except for CRUD methods and state machines.  But we've made a tremendous amount of progress since then!

Now, very interesting working software component contracts can indeed be generated from formal specifications. A fascinating thing is that with Synereo, these are not just software contracts and protocols, they are also social contracts that will be enforced and influenced with the movement of AMPs.

The formalisms which leithaus (Greg) references are all solid.  But they are not trivial to realize in a robust software architecture, which is why the dedication to 5 years of development invested in SpecialK/KVDB and its pattern language for the web is impressive (http://blog.synereo.com/2015/03/17/specialk-kvdb/). It’s real.

For the last several months, I've been noodling on an idea that resulted in the whitepaper for LivelyGig -- The Decentralized and Distributed Employment Market /YdRrPQMrT6]http:/[Suspicious link removed]/YdRrPQMrT6.  From a platform perspective, it has a lot of similar requirements as Synereo. When I look at the possible technology stacks on which to implement such a decentralized and distributed system, I so far only have a very short list of potentially viable choices -- Ethereum, MaidSAFE, Eris Industries, and SpecialK/KVDB.  Which one is complete enough and most likely to work in decentralized deployment? So far, SpecialK/KVDB is looking most promising for LivelyGig, because it is complete and based on a researched and formalized software contract paradigm.

I'm also very impressed by the caliber of the Synereo team, having talked with several of them. I’ve watching their Hangouts and carefully studied the Whitepaper.  I’m a fan.

As far as the AMP Crowsdale, yes it is risky and exciting from an investor’s perspective. Potential downside and potential upside. All of the crowdsales are difficult to assess financially and are missing the investor protections that would be available in a prospectus of a securities offering. After doing some homework, I have growing confidence in the team, their vision, and the technology. So, I will purchase some AMPs in the crowdsale.
/Ed

Hey Ed,

Thanks very much for the support! Also, i would urge people to take a look at Ed's LivelyGig paper (file:///Users/lgm/Documents/LivelyGig_Whitepaper.pdf). It caught my eye immediately as lucid, and to the point. As with Synereo, i think it can only improve with attention from the community.

Best wishes,

--greg

[jokumat]

1. Why do you use Mastercoin and not Counterparty? Omniwallet looks .. well .. ugly? Does it provide interface for asset trading? I can see BTC/MSC pair only.

2. The tokens can be traded immediately after the first round of the crowdsale, after the distribution, right?

[Elokane]

1. Why do you use Mastercoin and not Counterparty? Omniwallet looks .. well .. ugly? Does it provide interface for asset trading? I can see BTC/MSC pair only.

2. The tokens can be traded immediately after the first round of the crowdsale, after the distribution, right?

1. The Omni Foundation are supporting us in this crowdsale - a function that the counterparty guys don't provide at all.
The Omni guys have helped us in every step of the way, and so it only makes sense to use their protocol and wallet. They are soon revamping it, by the way, and will launch their new distributed exchange before our sale ends.
Functionally, there's no real difference between the two protocols - except that using counterwallet.co, one cannot send funds to our a multi-sig wallet.

2. Yes.

[Lucky - Luciano]

I still have not figured out how we will get the ampere which we bought .

[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

Alright thank you.

So the advertisers can only post something, they can´t add banners,etc., right?

They can release content just like any other content creator, and AMPlify it.
However if a content creator chooses to run fugly, irrelevant banners, the compensation offered to users that got exposed to this sort of low quality content becomes significantly higher than the compensation received by an audience of artist X fans that that are being offered concert tickets.

Nd

[Elokane]

I still have not figured out how we will get the ampere which we bought .

They will be sent to the BTC address you used to participate in the crowdsale.

[Lucky - Luciano]

I still have not figured out how we will get the ampere which we bought .

They will be sent to the BTC address you used to participate in the crowdsale.

Okay. Thank you. I did not know that the Ampers can sent to Bitcoin wallet.

[Macno]

2. The tokens can be traded immediately after the first round of the crowdsale, after the distribution, right?

2. Yes.

Where?

[mladen00]

2. The tokens can be traded immediately after the first round of the crowdsale, after the distribution, right?

2. Yes.

Where?

make new btc address (wallet) on www.omniwallet.org
and send btc to ICO address
After ICO you will get AMP's in your omni wallet

[hector3115]

Amps will most likely trade on poloniex.com at least.

[Momimaus]

There is no big run for your crowdsale. Maybe it´s time to think about the price.
More AMP per dollar could speed it up.

Honestly, 6m$ at this state of an high risk project like Synereo is not realistic anyway.

[Elokane]

There is no big run for your crowdsale. Maybe it´s time to think about the price.
More AMP per dollar could speed it up.

Honestly, 6m$ at this state of an high risk project like Synereo is not realistic anyway.

Dear Momimaus,

The $6m number floating around here is false.
Let's examine why and where we're really at:

MaidSafe, a crypto project promising a distributed storage solution, has a marketcap value of $10m+ with only 10% of its coins available on the market. This means that once their system is up and operational, price times available coins will equal more than a hundred million dollars. $100m.

Synereo, which already has an existing storage solution and much more, is currently only releasing 18.5% of available coins to the market - along with a few bounties (not even 1% at this point) and the 1/30 of the founder reward each month (i.e. 1% allocated 3 months from now). All remaining coins -> saved for future crowdsales, distributed to people who join the network and to content creators -> will be locked away for a long time, until we release our application to the public, at which point we will have proved Synereo's worth - and AMPs will begin having their innate value in the platform.

Let's round it up and call it a 20% available (assuming all coins are sold) and we reach close to $1.3m - the number which will actually appear on coinmarketcap. Now we're in an equivalent territory to GetGems, the Telegram-based messaging app.

Do you think $1.3m is a fair cryptocurrency marketcap value for a fully distributed technology already capable of distributed storage, smart contracts, and the plethora of other offerings we have in place?

[Momimaus]

There is no big run for your crowdsale. Maybe it´s time to think about the price.
More AMP per dollar could speed it up.

Honestly, 6m$ at this state of an high risk project like Synereo is not realistic anyway.

Dear Momimaus,

The $6m number floating around here is false.
Let's examine why and where we're really at:

MaidSafe, a crypto project promising a distributed storage solution, has a marketcap value of $10m+ with only 10% of its coins available on the market. This means that once their system is up and operational, price times available coins will equal more than a hundred million dollars. $100m.

Synereo, which already has an existing storage solution and much more, is currently only releasing 18.5% of available coins to the market - along with a few bounties (not even 1% at this point) and the 1/30 of the founder reward each month (i.e. 1% allocated 3 months from now). All remaining coins -> saved for future crowdsales, distributed to people who join the network and to content creators -> will be locked away for a long time, until we release our application to the public, at which point we will have proved Synereo's worth - and AMPs will begin having their innate value in the platform.

Let's round it up and call it a 20% available (assuming all coins are sold) and we reach close to $1.3m - the number which will actually appear on coinmarketcap. Now we're in an equivalent territory to GetGems, the Telegram-based messaging app.

Do you think $1.3m is a fair cryptocurrency marketcap value for a fully distributed technology already capable of distributed storage, smart contracts, and the plethora of other offerings we have in place?

Oh wow. That´s a sick answer.

Maidsafe will be mined over many many years. The 100m is at the end, according to Bitcoin with 21m coins.
But you don´t have mining. All the coins are premined. Just because you just don´t sell them, they don´t exist?
No, quite the opposite. Further crowdsales, bountys, giveaways, etc. will dump the price.
The 6m are correct, and it`s even worse, there is a 5% inflation ontop.

Yes, 1,3m will be shown an CMC, but that´s not an argument. Do you want be ripple or what?

The marketcap is 6m, that´s a fact. Blinding people is not an appropariate behavior.

If I think it´s worth 6m at this stage? Absolutely not.
But that´s not the question. I see 30k investments so far. So I think it is safe to say, that the people don´t think that it is so much worth.
Don´t crurify the messenger.

[Elokane]

There is no big run for your crowdsale. Maybe it´s time to think about the price.
More AMP per dollar could speed it up.

Honestly, 6m$ at this state of an high risk project like Synereo is not realistic anyway.

Dear Momimaus,

The $6m number floating around here is false.
Let's examine why and where we're really at:

MaidSafe, a crypto project promising a distributed storage solution, has a marketcap value of $10m+ with only 10% of its coins available on the market. This means that once their system is up and operational, price times available coins will equal more than a hundred million dollars. $100m.

Synereo, which already has an existing storage solution and much more, is currently only releasing 18.5% of available coins to the market - along with a few bounties (not even 1% at this point) and the 1/30 of the founder reward each month (i.e. 1% allocated 3 months from now). All remaining coins -> saved for future crowdsales, distributed to people who join the network and to content creators -> will be locked away for a long time, until we release our application to the public, at which point we will have proved Synereo's worth - and AMPs will begin having their innate value in the platform.

Let's round it up and call it a 20% available (assuming all coins are sold) and we reach close to $1.3m - the number which will actually appear on coinmarketcap. Now we're in an equivalent territory to GetGems, the Telegram-based messaging app.

Do you think $1.3m is a fair cryptocurrency marketcap value for a fully distributed technology already capable of distributed storage, smart contracts, and the plethora of other offerings we have in place?

Oh wow. That´s a sick answer.

Maidsafe will be mined over many many years. The 100m is at the end, according to Bitcoin with 21m coins.
But you don´t have mining. All the coins are premined. Just because you just don´t sell them, they don´t exist?
No, quite the opposite. Further crowdsales, bountys, giveaways, etc. will dump the price.
The 6m are correct, and it`s even worse, there is a 5% inflation ontop.

Yes, 1,3m will be shown an CMC, but that´s not an argument. Do you want be ripple or what?

The marketcap is 6m, that´s a fact. Blinding people is not an appropariate behavior.

If I think it´s worth 6m at this stage? Absolutely not.
But that´s not the question. I see 30k investments so far. So I think it is safe to say, that the people don´t think that it is so much worth.
Don´t crurify the messenger.

What does it matter if it's "mined" over many years or released to the public from existing wallets over many years? Both options hinge on the success of the project. In both options, coins will only be released to the market if an application actually exists and if people use it. If Synereo doesn't release an application, the vast majority of coins will never see the light of day as no one will wish to buy them in additional crowdsales and they'll remain locked in a wallet forever. If MaidSafe doesn't release an application, people won't mine it and create more SafeCoins.

MaidSafe sold all of their coins for $8m. We are selling less than a third of our coins for $1.2m and keeping the rest until we actually prove our mettle.
There are very clear rules for what happens with the rest of the coins not available to the market, unlike any other project in the ecosystem - including Ripple.

[Macno]

Amps will most likely trade on poloniex.com at least.

Most likely? Can the Dev confirm that?