Hey everybody!
We are very close to re-enabling sending again. Registration won't be re-enabled any time soon. Not for Android devices at least. Before you grab pikes and torches and come to crucify us, we would like to inform you that we have started going around some running forums trying to see how people will react to this. Feedback was pretty good. The casual feel of the iPhone app functions and appearance seems to be very appealing to people that are not cryptocurrency educated. We have started the sign up process for the first 1000 beta testers for the iPhone app. People that like running and have an iPhone are our primary target audience right now.
There is another thing we need to seriously discuss. When the first 1000 iPhone users get their first version of the app, the natural thing for them will be to sell the coins after the first run just to see if the story is true. Even though it will be proven so, the amount of money they receive will be really small. We have already warned people that the money they receive at first is no big amount, but we want to discuss possibilities of making those amounts a bit greater. It goes like this: After an iPhone users clicks the sell button in the app, we handle everything. Make a sell order, or take a buy order if there is a reasonable price. This is the part we need help with. Since the sell order prices are automatized (in other words the fitness user has no input in selling), we need to discuss at what price will we start buying those orders. We are not thinking about absurd prices of course, but it would be nice if it's possible to make it a bit more than 1 cent
We had an integration offer from Poloniex, we will see with them about this whole automatized process. So if you were thinking about investing, wait for our release on Poloniex.
Keep in mind that the app functions a lot differently for them. They are limited by a new thing we made called sessions. Once they press start in the app, a session lasting 2 hours (we will adjust the time based on some average session length these people have) will start. During this time we will monitor their activity, running speed and distance covered. Once the session ends, they will be rewarded coins based on their performance. It will be 99% fair. With all the data we will be pulling from their phones during those sessions regarding their run, it's as fair as it can get. We will be requiring an unlimited active data plan from each iPhone user, which is a standard in the iOS market. And of course, the app is still resource light, even on the data plan. There will be a 10% fee on coins once the session ends, which we will use to pay out stake holders, in other words, you guys.
This is something we are thinking about these days, the iPhone app is on the App store mid March (we hope. Apple has their obligatory app review, who knows how long that takes).
What are your thoughts about this?
Best regards, Svonione from MangoCoinz