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

[ashapasa]

I bought some amp, but am hesitant to buy more  Can someone please clarify the total number of New amps to be sold in crowdsale. Is it unlimited or does it have a fixed supply? Also at what price would the amps be sold, would it be on par or less than market price ?

Can someone please answer this these questions.

Thanks

[1714009401]

1714009401

[1714009401]

1714009401

[bbc.reporter]

Yes. I have the same concern as ashapasa. What if this ICO will make AMP go down in price. Then it would be better to just buy the ICO than the volatile coins in the exchanges.

[ashapasa]

If I am thinking correctly, it would not be in the interest of devs for price to dip at the exchanges. It would also not be possible for them to charge higher than market price, also prices in exchanges cannot rise because crowdsale is offering more amp perhaps at a discount otherwise no incentive to buy from crowdsale. Crowdsale sale prices cannot be too cheap compared to market as it will crash market price which with not benefit the devs, provided only a limited amp is to be sold, if unlimited amp is to be sold none of the above situation matters.

i am leaning towards a slight fall in price rather than a increase now. People might want to arbitrage what little incentive is provided at crowdsale compared to market.

I support the project so please don't take this as fud. What do you guys think?

[TrueAnon]

Yes. I have the same concern as ashapasa. What if this ICO will make AMP go down in price. Then it would be better to just buy the ICO than the volatile coins in the exchanges.

This second funding isn't an "ICO" per se.  It's an external funding, which will bring external investing exposure to Synereo.  

It will be held at https://bnktothefuture.com, which has hosted investing for ShapeShift, Factom, Kraken, etc.  It's a highly publicized site with praise from Richard Branson an many media outlets.  Just think of the potential exposure that creates.  It also will be a more credible funding than your typical BitcoinTalk ICO, and requires investors to pass certain requirements, so it will give more legitimacy to Synereo, which in turn will attract deep pocket investors who may not necessarily be familiar with the crypto scene as their primary source of investment.  

If you look through that site, you'll see that the site generally attracts bigger investors, not small timers, which is also important to note.  For example, take a look at a few of the past fundings:

Kraken:
https://bnktothefuture.com/pitches/kraken-series-a
Total Raised ~ $100k (USD)
Total Investors: 1
Average Investment ~ $100k (USD) per person

Ribbit
https://bnktothefuture.com/pitches/ribbit-me
Total Raised ~ $1.5mil (USD)
Total Investors: 52
Average Investment ~ $29k (USD) per person

Storjcoin:
https://bnktothefuture.com/pitches/storj
Total Raised ~ $500k (USD)
Total Investors: 50
Average Investment ~ $10k (USD) per person

ShapeShift:
https://bnktothefuture.com/pitches/shapeshift-coincap
Total Raised ~ $1.85mil (USD)
Total Investors: 279
Average Investment ~ $6.6k (USD) per person

Factom:
https://bnktothefuture.com/pitches/factom-inc
Total Raised ~ $1.1mil (USD)
Total Investors: 329
Average Investment ~ $3.3k (USD) per person

-----------

Secondly, let's analyze the effect of the bnktothefuture on price:

• Factom finished its funding on July 22, 2016.  At that time, the price was $1.56 (USD); Now the price of Factom is $2.71 (USD)
• Storj finished its funding on October 21, 2015.  At that time, the price was $0.015 (USD); Now the price of Storj is $0.11 (USD)

There is really no reason to believe that this funding would harm the price of Synereo, but rather would help it.  To be honest, I wish the funding would be bad for Synereo for the simple fact that I would love to buy more.  Synereo is really a gem that not too many people are focused on yet.  But if you consider that Steem hit $5 (USD), I have no doubt Synereo will go over $1.  It's extremely underpriced considering the amount of development and the skilled team.  Most people don't realize that Synereo could actually compete with Ethereum head-to-head.  

*boom*

Liking very mucho what I hear Thanks.

Would love to see AMP on 1ex.trade - if the devs don't mind going on the site and quickly filling out the sign up coin section

[m4nki]

Synereo has been featured in an article on NewsBTC.com:

[...]The upcoming alpha launch of Synereo as a next generation social network promises change in the way consumer technologies work today. The project, which was in development mode for the last two years, strives to promote decentralization in the social networking sector. It utilizes the power of Bitcoin’s underlying technology — the blockchain — to build a trustless system, where the user is the only king.
[...]
By removing the middlemen as stated above, Synereo aims to provide passive income to users. The platform’s decentralized prospects prompt advertisers to directly pay users to see their content. By following this method, advertisers also get to connect with potential leads, with their consent for a fee.[...]

http://www.newsbtc.com/2016/08/23/blockchain-synereo-evolution-social-networking/

[DecentralizeEconomics]

If I am thinking correctly, it would not be in the interest of devs for price to dip at the exchanges. It would also not be possible for them to charge higher than market price, also prices in exchanges cannot rise because crowdsale is offering more amp perhaps at a discount otherwise no incentive to buy from crowdsale. Crowdsale sale prices cannot be too cheap compared to market as it will crash market price which with not benefit the devs, provided only a limited amp is to be sold, if unlimited amp is to be sold none of the above situation matters.

i am leaning towards a slight fall in price rather than a increase now. People might want to arbitrage what little incentive is provided at crowdsale compared to market.

I support the project so please don't take this as fud. What do you guys think?

Like I said before, I think the price at the crowdsale will be at least around 40-50k sat per AMP.  This is pure speculation though.  I deduce this from the fact that it would be half the price of the Ethereum crowdsale (1000 ETH per BTC), but for a much more technologically advanced platform.  Whatever the price is, the market will quickly adjust to it, because the order books are thin.  In my mind the greatest benefit to buying directly from Synereo as opposed to the open market is that you are able to lock-in your price for a set number of AMPs without driving the price up against yourself.

[Maksim Popov]

So the price for ICO would be twice lower then the price on exchanges?
Is this right? What is the benefit holding current coins though?

[whenberich]

So the price for ICO would be twice lower then the price on exchanges?
Is this right? What is the benefit holding current coins though?

How are you concluding this?

The current market price is roughly 24k; if someone says they think the price for the crowdsale will be 40-50k how is that lower than the current price?  It's higher.  The advantage of holding now is that this crowd sale will bring major investment that will increase the price.  I think there's a strong advantage to holding now.

What's the ICO price? I saw someone said it was 4k sat, I calculated the price is 200 sat. But you guys said 10k sat? I am very confused now.

[jacaf01]

Please when is the new ICO? I dont want to miss out this time arround

[Synereo_zh]

Please when is the new ICO? I dont want to miss out this time arround

There is not a set date and terms yet. The best option is to subscribe to our newsletter at http://www.synereo.com/ to get updates.

[TeseracT]

Well the crowdsale has to be in better price than market, otherwise why invest through BTTF. So short term price decline is logical.

[raphma]

Well the crowdsale has to be in better price than market, otherwise why invest through BTTF. So short term price decline is logical.

actually, it tends to the opposity.
the price will be higher, that will lead to pump in the current coin and price will find a "new zone".

if they do a lower price in the crowdsale that will ruin the investors holding right now and that would lead to a lose of trust.
but, if they opens in a higher price, they market will adjust and that will be good to the current investors, and that will lead to gain trust.

[m4nki]

More coverage about Synereo and it's upcoming release:

[...]
Anything published through Synereo is encrypted and recorded onto a public blockchain which no individual person or organisation can control. As Konforty assured me, this means that:

Synereo has zero access or control over information on the network. There’s nothing Synereo can do that relates to user identity or data on the network. Neither Synereo nor any external party can take down information or users from the net.
[...]

http://cryptorials.io/synereo-need-decentralized-social-networks/

The decentralized, open-source social network will compensate users with its own cryptocurrency for viewing promoted content.
[...]

http://www.financemagnates.com/cryptocurrency/innovation/blockchain-powered-synereo-set-to-challenge-facebook-and-twitter/

[...]
Built on top of the company’s unique distributed tech stack, which utilizes blockchain technology to enable a peer-to-peer internet, the alpha version will become available after two years of development and refinement.
[...]

http://www.econotimes.com/Synereos-blockchain-based-social-network-to-enter-alpha-phase-in-September-263754

[...]
Synereo prides itself on sharing information through pathways of networks, similar to how the brain works. To be more precise, the social network aims to integrate measures of compassion in its code. This will be made possible thanks to Synereo collaborating with Ethereum and various top developers.
[...]

http://fintechist.com/decentralised-social-media-platform-synereo-focuses-measures-compassion/

[...]
“Nevertheless, decentralized social networks are going to become the norm, based on the reward incentives they will work. Think about it, at some point a generation grew up without myspace we our generation was thinking myspace is the coolest thing ever. A generation is starting that may never use facebook because they can't understand the concept of feel good likes over monetary likes.”
[...]

https://cointelegraph.com/news/beware-facebook-decentralised-social-network-is-approaching

[...]
The Synereo network operates entirely without central servers or data centers. Instead, the network compensates users for contributions of storage and computation power when they support the distributed network with their personal devices. Additionally, the social network itself adheres to principles of the attention economy, which provides users with monetary rewards for creating and curating content that people like.
[...]

http://www.the-blockchain.com/2016/08/22/blockchain-startup-synereo-announces-alpha-release-worlds-first-decentralized-social-network/

[TeseracT]

Well the crowdsale has to be in better price than market, otherwise why invest through BTTF. So short term price decline is logical.

actually, it tends to the opposity.
the price will be higher, that will lead to pump in the current coin and price will find a "new zone".

if they do a lower price in the crowdsale that will ruin the investors holding right now and that would lead to a lose of trust.
but, if they opens in a higher price, they market will adjust and that will be good to the current investors, and that will lead to gain trust.

is it your speculation or you know, the price in crowdslae will be higher?

[raphma]

Well the crowdsale has to be in better price than market, otherwise why invest through BTTF. So short term price decline is logical.

actually, it tends to the opposity.
the price will be higher, that will lead to pump in the current coin and price will find a "new zone".

if they do a lower price in the crowdsale that will ruin the investors holding right now and that would lead to a lose of trust.
but, if they opens in a higher price, they market will adjust and that will be good to the current investors, and that will lead to gain trust.

is it your speculation or you know, the price in crowdslae will be higher?

speculation.
like i said, if they know what they are doing(and i'm sure they know) they wouldn't harm the current supporters.

the current supporters are people buying amp right now.

[TeseracT]

someone set sell wall of 190 BTC at 28500 to suppress price rise, obviously a whale trying to accumulate before pump happens.

[mexicotaco]

someone set sell wall of 190 BTC at 28500 to suppress price rise, obviously a whale trying to accumulate before pump happens.

  You may be right, maybe he really wants to sell, who knows? Usually sell in the news, you know this.

[SynereoCommunity]

You can JOIN us LIVE by using the zoom link

https://zoom.us/j/2522161381

[Synereo_zh]

https://www.cryptocoinsnews.com/synereo-announces-alpha-phase-as-worlds-first-decentralized-social-network/

Synereo Announces Alpha Phase As World’s First FULLY Decentralized Social Network

The open source social network has been two years in the making and aspires to be the first fully decentralized network based on principles of what it calls the “attention economy.”

Synereo’s alpha is built on top of the company’s unique distributed “tech stack,” which utilizes blockchain technology to enable a peer-to-peer Internet. A software stack is a set of software components or subsystems to create a complete platform that does not require additional software to support applications.

Revolutionizing Social Media

The blockchain-based social network revolutionizes the concept of social media by placing control over content, personal information and monetization in its users’ hands.

Unlike incumbent social media providers like Facebook and Twitter, Synereo’s social network cannot record or store personal information, and does not sell it to third parties. The network also claims it will not target users with marketing messages.

All network transactions and relations are encrypted on a distributed ledger and accessible to permitted parties.

The ‘Attention Economy’

The Synereo network compensates users for contributions of storage and computation power when they support the distributed network with their personal devices. Additionally, the social network adheres to principles of the “attention economy,” providing users with monetary rewards for creating and curating content that people pay attention to.

Synereo’s alpha will include the following features:

● Text posting with featured images: Test users will be able to post simple text posts and images.
● Content labels (#hashtags): Posts will be taggable and searchable via hashtags.
● Decentralized search capability: Content, users and other items will be searchable on the network.

Users will be able to promote content by charging their posts with the test network’s native currency, AMPs. Accordingly, users will be compensated with AMPs when viewing amplified content. AMPs are currently traded on the Bittrex and Poloniex exchanges.

A Decentralized ‘Tech Stack’

Synereo is the top layer of a complete decentralized “tech” stack – the Synereo platform – that its partners are using to create fully decentralized applications (dApps). The Synereo team plans to create and support more “dApps,” as well as partner with other teams, to bring the best applications of the old web into a new, decentralized paradigm.

CEO Dor Konforty refers to the Synereo platform as “Android for the decentralized web.” “When wanting to develop an app for mobile devices, most people choose Android. We aim to be the same for dApps,” Konforty told CCN.

Development Revenue

Synereo plans to assess fees of less than 1% from certain transactions on the social platform and on apps on the network to maintain and further develop the platform and network. The platform will not take profit from social interactions on the social platform. “We believe basic human communication should be as free and unrestricted as possible online,” Konforty said.

Synereo will offer the following features in its new version:
• Deployment of decentralized nodes on local machines
• Creation of private connections among users
• Text posting with featured image hosted on the decentralized cloud
• Content labels (#hashtags)
• Decentralized search capability by user and label
• Content amplification with test-net AMPs
• 3-tier content viewing: browse, expand, and full view
• AMP rewards for completing certain actions on the application, as well as reporting usage statistics relating to the attention economy

Two Years In Development
The original plan was to build the social network on an existing blockchain, Konforty noted. However, in researching the options for a blockchain that would meet the requirements needed, it became apparent that no such platform was available.

CTO Greg Meredith, an ex senior-level architect at Microsoft, decided that Synereo needed to build its own blockchain based on the mathematical approach that he has cultivated.

Second Crowdsale Planned

Synereo raised $126,023 from its first crowdsale, which CCN reported last July, selling 22,719,689 AMPs and distributing 45,439,378 AMPs.

The platform is planning a second crowdsale on bnktothefuture.com in September to fund its operations. There will be another public sale of AMP’s as well as an equity offering.

“We expect these funds to allow us to further develop the social layer, finalize development of our new sharded, composable scalable blockchain, make fully operational our Rholang smart contracting language, and create the tools allowing developers to easily and modularly interface with any of the layers of our platform to create fully decentralized and distributed applications that have an easy time interfacing with one another and creating network effects between them,” Konforty said.

[Lucky - Luciano]

I'm still not transferred my Ampere from  BTC wallet   to OMNI (Ampere which I bought when it was crowdsale). Can I keep them unlimited in the BTC client ?