Topic: [ANN] AMP - The Currency That Powers Your Attention On Synereo - page 332. (Read 879222 times)

Dor Konforty wasn't at the conference so I didn't talk to him but I talked to many other people. The general consensus from the people there seemed to suggest that AMP will end up being the usage token for an app and not a usage token for a blockchain. They talked about a new non-profit that'll run a blockchain called RChain that any app can create a usage token on. RChain would take a small fee to continue development but being a non-profit they would not raise fees to maximize profits like a company would do.

It would've been good to hear what Dor Konforty thought of the RChain idea. Would he support running synereo on a non-profit blockchain open to all apps or would he want to run a synereo for profit blockchain.

This is one platform I do not see bitcoin as possible. They are not able to build this on bitcoin, and cannot build this on Ethereum. It would be difficult to use a token from another platform that does not function with yours.

agree, it was a disaster. btw when can we have access to alpha? no plan?

There's a hard fork coming with what sounds like a centralized coin swap. The numbers could easily be changed during the hard fork. I don't think they'll change though. Most of the coins are for users and content creators. There's a premine for the devs and for future development.

 Agree, a new alpha demo video would be better.

As to the live demo,maybe not too much smooth ,but still works and a good job ,I think.

i hope you guys can release a new alpha demo video in the coming days cos that vancouver presentation was a disaster. full of bugs, hardly anything worked.

From this thread's OP:


Transparently communicated here: https://docs.google.com/spreadsheets/d/1r1G-ROS4vgHK84qfn1CBIxuXZQCCvIicCTQSxW1T_mo/edit

These are facts. Tell me there is no 2B tokens which can be dumped any time, or just jused for manipulating market.

that was already explained... more then once..
if you want to FUD, bring us some facts. stop repeating the same thing

Undervalued ?  2 000 000 000 x 0.163978 $ (present price) = 328m marketcap. Now we have 10m marketcap, so is 32,8x overvalued

yes it is still under value so better to keep buying little by little because as soon as the market realized and start to invest the price will surely moon up and easy prifit for us guys just hold and keep it wait for the price to jump up. good luck

Not sure if this article by CoinTelegraph has been posted yet:

Synereo Unveils Tech Behind Its Decentralized Social Network, RChain To Replace Blockchain

Decentralized social media platform, Synereo, disclosed a 4-layer tech stack that would power its system, with RChain to replace Blockchain.

It’s yet to see how efficient the proposed model will be by comparison with Facebook and Twitter.

Aside the general knowledge of decentralized platforms as seen in Diaspora*, Steemit and others, not much is known about Synereo which aims to be the first fully decentralized social network based on principles of the attention economy.

Existing Blockchains can’t support the network


According to Synereo’s own paper, Bitcoin, Ethereum and other decentralized systems don’t use “the best engineering and mathematical models for scaling and correctness in order to support mission-critical solutions.”

It noted that known Blockchains are still slow, wasteful and impossible to scale, and by no means can support a social network that would disrupt incumbent players like Facebook or Twitter. Hence, the need to come up with a customized structure.

However, we’ll have to see how the tech stack will pan out for the platform that claims that it will change the concept of how the control over content, personal information and monetization would be placed in the hands of users.

The language that could have prevented the DAO hack

In a statement to CoinTelegraph, Synereo stated:

“Facing this reality, we understood that we had to develop our own infrastructure, capable of fulfilling the needs of Synereo’s social layer, and so we set out on that mission. The result will be the first prototype of the long anticipated world-computer.... A virtual machine, capable of running decentralized applications for massive use (dApps) at blazing speed, and store data without the need for server farms or centralized points of control. All resources are provided by the users using the network, and they’re the only ones calling the shots.”

The core of the stack upon which other layers, including its programming language Rholang,  are to be built is RChain or Blockchain 2.0. Its Casper Proof of Stake design was developed by Ethereum and Synereo’s CTO, Greg Meredith.

In July, the hosts of the Bitcoin podcast said that Synereo’s formally-verified smart contracting language, Rholang, would have prevented the attack on The DAO.

RChain, which is not expected to be fully operational until Q4 2017, is presented as the first infinitely scalable and Turing complete Blockchain.

Rchain’s consensus protocol is based on Ethereum’s Proof of Stake Casper design - a model where consensus is as cheap as possible for everyone, except for adversaries while they are conducting an attack. However, in contrast to Ethereum’s Casper, Rchain nodes do not validate entire blocks but logical propositions - a proposition is a set of statements about the Blockchain.

Though  Anari Sengbe, Founder of ProducTank, agrees that decentralized social networks are going to become the norm, based on the reward incentives they will offer - as well as their privacy features, predicting what would become of Synereo’s developed infrastructure is dicey.


https://cointelegraph.com/news/synereo-unveils-tech-behind-its-decentralized-social-network-rchain-to-replace-blockchain

ok, so let me rephrase this.


so yeah, for such big weekend like this (with a 3 days event ending with the launch of alpha phase) i wasnt expecting this...
every time i open poloniex and look at it, the volume is lower and the buy order too( price too, but like has been said, still "normal").

and again, i wasnt expecting to see the price above 33k, but it is like amp was completely ignored this weekend, even with alpha launch. and that really bugs me.

Can someone tell us if the alpha release was a success or a fail? I am not reading people connecting to Synereo. It is weird that after 5 years working on the project they have nothing still. Maybe they are steem and use synereo to scam people.
Synereo = DAO

This is going to be the new style of funding for many of the really high quality economy tokens/usage tokens so get used it. I'll be doing the same thing with multiple ICOs over many years for my mobile apps usage token. It really helps a lot to get sustainable funding and continue an upward trend. It also lets users earn bounties and rewards to help go viral.

Anyone can use this powerful fund raising method of creating a counterparty or omni bitcoin token prior to having a blockchain! Of course people will have the ability to run scams. Other People will simply not have the ability to deliver. This is like decentralized VC and definitely not the same as buying a mined PoW coin. You have to do your due diligence to decide if the project will succeed. Many projects will fail, many will be scams and a few will go up insane amounts.

At this point, it should be clear that synereo isn't a scam, most likely has the ability to deliver a high quality product by next year and is backed by big whales who want the price to go up a lot more. Thus it's valuation is really high.

Maybe i didn't make my point as clearly as i thought. Technically they can change it now, but they won't for the reasons I explained in the comment.

This is not a governance issue. Governance is concerned with how decisions are made, not the outcome of the decision. A chance in governance could result in a change of distribution/funding model, but there's no guarantee because you are simply changing the process through which the decision is reached.

If people keep repeating false information, it certainly makes explaining things more difficult!

There are only 850 million AMPs designated for future funding.  The rest are like "future mining" tokens - paid out for services rendered by users.

The unsold coins from the first round were destroyed - I take that as a good indication to not rule out that it can happen again.  We are listening to feedback given here, is our Slack, and other places.


One of the tricks to using tokens to disintermediate bank loans or "public" stock market sales as ways to finance a company is that the value of the tokens fluctuates, and cannot be predicted.  Anyone watching Ethereum in 2016 has seen this issue come up (twice really), and they were at the whim of ETH price to have funds to continue to their next milestone.

At the time of the initial token sale, I think they were $.00286, and that wallet had 369,600,000 AMPs - so the value was only $1 million. [There had also been some previous funding for developing Special K, which is what Synereo is built around, before Synereo was formed.  This is important just for understanding the time & energy that has been put into the end results]

So this is where you have to start from.  We got a couple hundred thousand dollars to work with, went from 4 people, an idea, a prototype demo, and hoping to use an existing blockchain to build on, to a team of around 20, several innovations, a new UI & alpha, and specs for a scalable blockchain built to work with formal methods that underlie the rest of the tech stack, ~18 months later.  We could have done better with more funding, but we did what we could.  We want to give this round a better chance at a faster pace of development.

Because we've reached this important milestone, our early supporters are very happy.  
From the company's perspective, it's not good to make decisions too quickly, or with too much confidence.
This fundraising sale will need to be analyzed closely to be able to make a good decision.

Please keep giving your feedback!  This kind of funding, combined with open door transparency and community input means you all are on the "lending committee", and the market will decide the final terms.

I just hope we can do that without the personal attacks charging stupidity, fraud, greed, laziness, wrong race/nationality, etc.
That's not productive.
 


Ref: https://docs.google.com/spreadsheets/d/1r1G-ROS4vgHK84qfn1CBIxuXZQCCvIicCTQSxW1T_mo/edit

What I don't get is why the devs didn't decide to use bitcoin as the real currency powering synero. It would have been more fun and interesting. All those great projects that need their own coin... anyway I hope to test the release soon and see how synero works.

Why could they not change it now? Isn't having too much better than having too little? Seems like a logical fix is there. Change the amount of coins coming out and make a strict rule.

The conference they just had was about governance. If this is governance then they must listen to the will of the community. The community is saying loud go ahead and raise more investment, but why are there 1.6 Billion coins? It seems like a simple fix to me. Just send most coins to an address to discard them. Use the rest for funding, and to run the network.

They can't change it now, but I completely agree that they should. If they announced that they are going to destroy all, of most of their 1.6 billion premine at this stage, it would be an admission that they didn't think the distribution and funding model through very well. While many existing and potential investors would welcome the corrective action, they would also wonder what else has not been thought out very well. Flip-flopping on one important issue plants seeds of doubt concerning many other issues. This is how the house of cards starts to fall for many cryptos, and this is why comments such as this one must be labelled FUD by the founders. They must continue to project an image of confidence, professionalism and positivity, to avoid the real and justified FUD that a supply change would cause.

To reiterate, I think Synereo has real potential, but I will wait until the market has shown some adjustment for the progressive inflation that is inherent in AMPs. The founders don't have to listen to us, but they can't ignore the market, and it will explain the flaw in their model gradually, over the next couple of years.