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

[SynereoCommunity]

How many ppl involved in the Synereo project at precent?

Not sure exactly.  I'd guess around 18.

Different levels of involvement, of course.

[1713959192]

1713959192

[1713959192]

1713959192

[overthetop2011]

How many ppl involved in the Synereo project at precent?

Not sure exactly.  I'd guess around 18.

Different levels of involvement, of course.

Ok ,thanks for the info.

It is not a small team already.

[SynereoCommunity]

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

https://zoom.us/j/2522161381



or you can watch on YouTube: https://www.youtube.com/watch?v=z53_lcys3hg

[overthetop2011]

+100  for the weekly and on schedule hangout .

[Macno]

Any update on the upcoming "listing" on Bnktothefuture?

[Transpotime21Bus]

Any update on the upcoming "listing" on Bnktothefuture?

what is Bnktothefuture?

[Macno]

https://bnktothefuture.com

[Su100]

How does steem store the data?

price will probably go down once people realize:

there is no product, everything is very theoretical, for a very long time.
there is a premine of over billion coins
there is no blockchain, it is unlimited supply Omni Token
price is set x20 (in USD) already
can't store so much data (of a social network) on a blockchain. need petabytes or even exabytes of data.
 ^ if using some kind of sharding and nodes to store data, there is no way to make the data redundant enough, and still not enough storage space

impossible and very theoretical project right now...

[extee]

to the devs
are you going to offer AMPs in the bnktothefuture fundraiser? in some posts you say you have no plans to offer AMPs but just stocks in synereo ltc(the software company) then in other posts you say you may also be selling AMPs. can we have a definitive answer?  
the speculation that you may offer AMPs for sale in the bnktothefuture crowdsale has been putting downward pressure on AMP price for months. I hope you realize.
also a bit more transparency on how many AMPs are in circulation would be nice.  if this figure could be updated at least monthly it would helpful.

the last info i could find regarding a possible AMP sale in the bnktothefuture pitch:

Dor comments on the recent interest in cryptocoins growing due to the price increase in many coins. The possibility that selling AMPs to be used as funding, increasing in that way the waves of interest in cryptocoins, is being studied. After that he talks about the BnkToTheFuture Campaign for those who invest having equity. The decisions have to be made. Jonny joins the conversation explaining that he thinks that BnkToTheFuture could be used in conjunction with other methods of raising capital, he says that one of Synereo’s strengths is as a framework layer, on which many apps can leverage Synereo’s tools, creating a whole ecosystem of DAPPs which can all benefit from Synereo’s fundraising goals.

Market Price – Dor asks for opinions for a way to fix the possibility of market manipulation. Maybe with a fixed price, or other solutions like an average method. All this relates to the crowdsale, and getting a fair price.

I'm not sure there is a way of selling AMPS at the fundraiser without killing the current market price even further .  only way I can think of is : selling them at an advantageous price (~15% off market price) but with AMPS locked till launch. a token 'AMP pack' which can only be redeemed after launch (in 4-5 months or whenever the launch will be).  I don't think it would hurt current prices too much and infact knowing that millions of AMPS would be locked away till release might even help current prices a little.

[kame]

Hi dev,

I have a VPS and willing to utilize as a test node instead of Amazon. any instruction for VPS?

Cheers.

[John Constantine]

What a day to the altcoins. Prices are terrible. I hope Synereo recovers soon.

[ifightformerkel]

Do you think we will see a rebound of Synero? The price crashed today about another 25%.

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

[SynereoCommunity]

to the devs
are you going to offer AMPs in the bnktothefuture fundraiser?

also a bit more transparency on how many AMPs are in circulation would be nice.  if this figure could be updated at least monthly it would helpful.

The BTTF will be a private offer for stock in the underlying tech stack company, Synereo Ltd.
Packaged with certain investment increments will come some AMPs as a bonus.
[the stocks will not convey voting power, and the AMPs will have a hold requirement of some time]

This will start as soon as the last minute details are signed off by the legal dept. (say 1-2 weeks)

After this event is over, there will be the second AMP crowdfunding round.
This is for the general public and will not have restrictions on hold/selling.


The spreadsheet where the AMP records are kept is public.  Suggestions on making it more transparent are welcome!
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 that are no longer "in the future"
Also the total community rewards have been about 6.6 million so far.  Still, these 2 wallets add up to about 15.3 million AMPs - a very insignificant portion of the total.  Connecting this to the after-market price of AMPs is near to impossible.  Most of these AMPs never left their destinations, or appeared on the market.

The price for re-selling these tokens is determined solely between the buyer and seller.  We take no intermediary position or action there.
This is one of the strongest selling features of cryptocurrencies - disintermediation.
Enjoy it!
 

[SynereoCommunity]

What a day to the altcoins. Prices are terrible. I hope Synereo recovers soon.

Why?  Do you want to sell them?

[SynereoCommunity]

Do you think we will see a rebound of Synereo? The price crashed today about another 25%.

Or why the price is crashing?

Ponder this:

While we first react to buying and selling as functions of "supply & demand" (IE, everybody wants to buy, so demand goes up, and the price follows), that really only applies to having no real limits on the supply side.

When you put the limits in, and restrict supply to actual existing quantities, and still maintain high demand, this means no one is selling.  If no one is selling, then supply becomes effectively zero, and disconnected from demand/price relations.

On the exchange markets, the price is set by the offers to sell.  This number is low when people hold.  This makes it easier to manipulate: if you own some, you put small offers up at below the going rate, and keep this up.  This drives the price down.  Of course, you have to be able to sustain these numerous small losses.  One would do that if they believed that the longer term prospects are much greater than short term "bumps" in listing prices.  And the cheaper they can buy AMPs for in the upcoming sale, the more they stand to win.  Again, as long as these small sales add up to much less than what they plan on buying at the new offering (which is detached from the re-sale market), then this is a good "business plan" for speculators.

So ironically, when the demand is super high, and expectations for long term increases are also very high, and there is no new supply to meet these desires, the volume and price can contract.

 

[SynereoCommunity]

Hi dev,

I have a VPS and willing to utilize as a test node instead of Amazon. any instruction for VPS?

Cheers.

Go here to get info on that please: https://synereonet.slack.com/messages/docker-testing/?ar=1455864912

(join at synereo.slack.com)

[speaktome]

What a day to the altcoins. Prices are terrible. I hope Synereo recovers soon.

Yeah, And conversely BTC with rising in price.

[extee]

After this event is over, there will be the second AMP crowdfunding round.
This is for the general public and will not have restrictions on hold/selling.

for real? and Dor is ok with this?
sorry but this is dumb beyond belief and grossly unfair towards your current investors and you shoot yourself in the foot too.
if this is confirmed what's the point of holding Synereo now as the price of the crowdsale will inevitably be lower than market price? (or for obvious reasons you won't sell any).
the specualtion of a new amp crowdsale has put downward pressure on AMP for months....if such unconditional crowdsale is confirmed you'll see AMP inevitably wrecked beyond recognition by the time the new crowdsale takes place (bad for everyone).
there has to be some sort of condition on the new amp sale (the holding would be the best) or you're majorly screwing your early investors and ultimately you will receive less funding for you AMPS as their value plummets.

[SynereoCommunity]

@Extee

You'll have to explain yourself in great detail to make this worth discussing.

Justify each of your claims with some sort of reasoned argument.

Why would it be dumb or unfair?

People that bought in the first sale are going to hold those AMPs for a long time.  This little storm means nothing to them.

What dynamics would cause the price to go down based on other people getting the opportunity as well?

What do you mean by "wrecked"?

etc.

Any company that runs their business to suit short-term speculators is sure to fail, and wreck economies, the environment, livelihoods, etc.

[extee]

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.