Damn, missed the show. Hope it gets archived soon, would have loved to hear it before the ICO opens in the morning. This looks cool, I'm just trying to figure out what the appeal is going to be for the little guy. It seems like it is focused on building a tight knit crypto club, and rewarding members with revenue streams coming from social media advertising or something. The details are vague. Seems like it will be quite an exclusive club too. You'd need 1-3% of the coins depending on which level you are at. Just wondering how robust the community is going to be when its going to be so hard to get in, and why anyone would want to hold less coins than that. Where is the value for the little guy?
Confused with the burning phase as well. Where is the BTC used to buy those coins coming from? The ICO fund? If all goes well with the roadmap, and the coin builds up some hype and price rises as the DPOS period takes place, its like a convoluted scheme to refund all the ICO buyers. Put up all the coins you earned from DPOS, get refunded most of the BTC you used to buy in the first place, still have your original stash of circuits to stay in the club. Maybe that's the obvious point and devs are shaking their head at me for typing it...........
What is the reward after vDPOS ends? I'm confused because the main value of this coin seems to be the community, but there is a lot of talk of burning coins, restricting supply, which isn't going to grow the community. I understand the point is to keep it exclusive, but if the price raises 5-10x it would be a hell of a way to reward early adopters by giving them staked coins they can sell to late comers who want a spot in the club. It seems like that route will give the coin more value rather than putting a "NO VACANCY!!" sign up while the cool kids burn the empty seats behind closed doors.
Hi There
I believe a link to the show will be available from Mixcloud, we will put up the link as soon as we get it.
We want to mention - for those of you who heard the show - Thursday is clearly a man of strong opinions who speaks his mind. Some of the questions he asked pertained more to the state of crypto in general and he gave his clear opinions. This obviously does not necessarily reflect the opinion of the Circuits team as a whole.
Concerning you questions and points, let me try to address them:
The revenue streams will go to the community as a whole, including the little guys. The point of the Lounges is not exclusivity - they simply provide different cryptotools, social relationships and opportunities that appropriate to each level. The tools on Trader level - entry level bots, charts, trading chat, and the social atmosphere - are appropriate to the average trader. The tools on Whale level - advanced bots including arbitrage, full escrow functions, private rooms, Whale Chat and so on - are geared for that level of trader. In addition, the Whales will be able to provide branded escrows, teaching programs, branded chart rooms etc to the Traders - helping the Traders boost their skills and progress.
Reducing the total coin supply is a measure to increase the value of Circuits, as well as to naturally counterbalance the DPOS growth. This is achieved by burning revenues received from the OAUTH social marketing program as well as the other modules described in the OP.
Proceeds from the ICO are going to the dev time already invested as well as the Circuits program moving forward. It is a very small group of developers who are currently capable of coding the DPOS functions and panel technology we have successfully built into this coin; ours are several of the best. One look at the advanced wallet functions makes it clear how much work has gone into Circuits so far. The dev team has been covering the development costs out of pocket themselves so far. It has been a substantial amount of time, resources and expenses, and these need to be compensated.
The ICO is being done under normal CCEX ICO rules, complete with buywall etc.
Your question about what happens after DPOS is well taken. Realize that the DPOS phase is only an early phase in the coin. The real value in Circuits lays in the social connections and relationships you can build inside the community, and how these relationships can evolve to become quite profitable for you. Both at Trader Level and at Whale Level. Of course, people can enter the coin at any time. Obviously the Culling provided huge opportunities for traders - and that is how it should be. After the Culling, the coin will be further strengthened by the inclusion of these same core members into the further development of the Circuits ecosystem though the Assembly mechanism. We see this as an enormous step forward - to bring such a deeply skilled and diverse group of traders and market makers into the inner circle of our coin
Thanks for the good questions - and we hope to see you in one of the lounges.
