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

[Bitinvestor]

I think Synereo should be renamed to Amp. I still can't remember Synereo but Amp is easy and I like it a lot more. 

[Elokane]

after we buy, how to receive the coins ?

You will receive the AMPs to the BTC address you participated in the crowdsale with.

I think Synereo should be renamed to Amp. I still can't remember Synereo but Amp is easy and I like it a lot more. 

One of the original names we entertained was "Synamps".

[Bitinvestor]

I think Synereo should be renamed to Amp. I still can't remember Synereo but Amp is easy and I like it a lot more.  

One of the original names we entertained was "Synamps".

Ahahaha, that's a play on synapse  

But it's too complicated, Amp is much better.

[kneim]

I like to have social networks to restrain noise/spam. Considering this the proof-of-burn concept could fit nicely into this concept. Every doing in the net burns some coins with the possibility to gain some in return. If there is too much noise, the coins are gone. If there is low noise, content is encouraged.

[Elokane]

That is one of the fundamental concepts behind the Reo score.

[Coinbitz]

When will GUI be fixed to match http://www.old.synereo.com/screens/3_single-post.png?

I believe that a nice interface is an important feature that can persuade individuals to join the upcoming crowdsales.

Also, how long has this been a project?
From what I understand, one of the devs has been working on the mathematics of the project for seven years. How long has he been working on development?

[McAndy]

When will GUI be fixed to match http://www.old.synereo.com/screens/3_single-post.png?

I believe that a nice interface is an important feature that can persuade individuals to join the upcoming crowdsales.

Also, how long has this been a project?
From what I understand, one of the devs has been working on the mathematics of the project for seven years. How long has he been working on development?

We consider UI/Frontend to be just as important (if not more) as the technology behind it and plan on hiring personnel and developing a UX on par with modern apps before we introduce the product to the mainstream.
You are correct - the underlying P2P stack has been in development for more  than 4 years and received 3.2M USD in funding.

Andy

[Kalkuuuta]

I buy many day ago with omniwallet but still dont see any synereo asset in balance check. Can you help me?

2015-04-12
https://blockchain.info/address/17nEcwraQYTnQeSin32ymQ6xQ2tmhGouyu

[freequant]

• 42.5% will be kept for future funding rounds. We aim to have two more, spaced 1-1.5 years apart, each providing the necessary funds for the next leg of the project.

You cannot run further crowdsales after the coin has started trading because a crowdsale won't work if the price is higher than the market price which it will be no matter what you do: if you set the crowdsale price at or above market price, there will be no incentive to attend and people who want AMP will buy from the market, and if you set the crowdsale price below the market price it will send a strong bearish signal and the market will correct even lower than the set crowdsale price hereby making the crowdsale fail.

[MadCow]

• 42.5% will be kept for future funding rounds. We aim to have two more, spaced 1-1.5 years apart, each providing the necessary funds for the next leg of the project.

You cannot run further crowdsales after the coin has started trading because a crowdsale won't work if the price is higher than the market price which it will be no matter what you do: if you set the crowdsale price at or above market price, there will be no incentive to attend and people who want AMP will buy from the market, and if you set the crowdsale price below the market price it will send a strong bearish signal and the market will correct even lower than the set crowdsale price hereby making the crowdsale fail.

hmm, good point, interested to see the response. probably have to have a separate amp2 traded outside the actual social network that is equivalent to amp1 inside???

[SynereoCommunity]

I buy many day ago with omniwallet but still dont see any synereo asset in balance check. Can you help me?

2015-04-12
https://blockchain.info/address/17nEcwraQYTnQeSin32ymQ6xQ2tmhGouyu

AMPs will be distributed at the end of the crowdsale, that's why you don't see a balance yet.

[Elokane]

• 42.5% will be kept for future funding rounds. We aim to have two more, spaced 1-1.5 years apart, each providing the necessary funds for the next leg of the project.

You cannot run further crowdsales after the coin has started trading because a crowdsale won't work if the price is higher than the market price which it will be no matter what you do: if you set the crowdsale price at or above market price, there will be no incentive to attend and people who want AMP will buy from the market, and if you set the crowdsale price below the market price it will send a strong bearish signal and the market will correct even lower than the set crowdsale price hereby making the crowdsale fail.

This assumes the market has infinite capacity to provide buyers with AMPs at the market price.

[hector3115]

any new offering will of course be lower than the current market price as is the case with any dillutive share offering. however, with a working platform,the current market value of amps could be much much higher than it is today at the time of the first sale.

[jimscarver]

The issue raised is that subsequent crowd sales will depress the value of the AMP which an increase in the currency supply is bound to do. 

The answer is that given synereo success, exponentially replacing facebook, insecure email etc., without increasing the amp supply the current of amps will increase exponentially while the share available per server drops exponentially,  potentially  causing exponential increase in the price of each amp.   At the same time operational costs drop roughly according to Moore's law.  The potential gain is phenomenal.   But unless synereo stays ahead of the curve with rapid continuous improvement it will not grow exponentially and be passed by other players and have only a modest return. 

The future crowd sales are to insure synereo stays ahead of the curve while maintaining as least a linear growth in value of the AMP.

[SynereoCommunity]

We've just announced a slew of new Twitter bounties. Come up with creative and inspiring tweets about Synereo and win 50,000 AMPs! (~275$) Find out more on our blog: http://blog.synereo.com/2015/04/17/twitter-bounties/ Find a Slogan for Synereo Tweet a meme about Synereo Synereo Haiku Social Ops Week Celebrity Hunt

[Elokane]

Good to see you here, Jim.

[freequant]

• 42.5% will be kept for future funding rounds. We aim to have two more, spaced 1-1.5 years apart, each providing the necessary funds for the next leg of the project.

You cannot run further crowdsales after the coin has started trading because a crowdsale won't work if the price is higher than the market price which it will be no matter what you do: if you set the crowdsale price at or above market price, there will be no incentive to attend and people who want AMP will buy from the market, and if you set the crowdsale price below the market price it will send a strong bearish signal and the market will correct even lower than the set crowdsale price hereby making the crowdsale fail.

This assumes the market has infinite capacity to provide buyers with AMPs at the market price.

No, it doesn't. By design a market is a price discovery mecanism, and market value under low volatility is a local equilibrium between offer and demand, which means the liquidity on sell side is enough to sustain current fluctuations of the demand without entailing an increase of the price. If you start the crowdsale during a stable / low volatility period all other things being equal, the effect of the crowdsale announcement on the market price / equilibrium will be overal negative as you are effectively announcing an upcoming significant increase of the float, so not only would you not need to have an infinite supply under equilibrium, but the trend would actually be negative and you would rather need an infinite demand to prevent the price from going down and making the crowdsale a failure.

The  only way a regular crowdsale would work after the asset started trading is if there are bullish news released close to or ideally at the same time as the next crowdsale, such that the expected increase in value of the current float due to the news is preceived to be potentially higher than the inflation caused by the crowdsale. Given how difficult it is to fathom the effect of good news on the market (just look at Ripple and its continuous string of good news and lack of price response to the news), basing future crowdsales on that is more than a little risky.

A better approach is to keep the extra funds as funds that Sinereo will sell as it sees fit, without limiting itself to any specific sale mechanism (OTC sale to whale, auction, crowdsale, employees compensation with or without vesting, sale on the market...). You would need to clarify asap this change of allocation if you do adopt it, and you should also setup a vesting schedule of how much funds (in AMP or USD/ILS equivalent) Sinereo can sell to fund itself per quarter so that prospects are not turned down by the concerns of illimited dumps.

[ApexEvo]

So we are approaching end of crowdsale:
1. What are thoughts of synereo team on the amount that is collected.
2. Are you reall gonna destroy unsold AMPs?

[SynereoCommunity]

Reddit AMA is LIVE right now.
Head over to https://reddit.com/Synereo to ask your questions directly to the founders.
We have had some interesting questions so far, and looking forward to answer more

[SynereoCommunity]

So we are approaching end of crowdsale:
1. What are thoughts of synereo team on the amount that is collected.
2. Are you reall gonna destroy unsold AMPs?

These are great questions for the LIVE AMA on Reddit right now.