[ANN][GEMZ] GetGems - Social Messaging App That Pays - Live on Android, iOS, Web - page 247.

Netnox

legendary

Activity: 2044

Merit: 1008

Quote from: karmala on November 29, 2014, 06:48:39 AM

I could not find the the possibility to send btc over gems anymore. This was mentioned in earlier articles I think. I could not find this feature on the website nor in the white paper. If the gems wallet is a counterparty wallet it should naturally be able to store btc or not?
Please clarify this.

e.g. http://www.coindesk.com/gems-bitcoin-app-lets-users-earn-money-social-messaging/

Gems is empowered by Counterparty, built on top of Bitcoin. So you can send Gems to a Bitcoin adress and vice versa and you can use Bitcoin in the app aswell. I am not sure if you can also store Bitcoin in Gems Counterparty wallet, but i think it should be possible.

reRaise

hero member

Activity: 868

Merit: 1000

Quote from: TaunSew on November 29, 2014, 06:50:37 AM

They already have a working Apple IOS app - this is something programmed in the proverbial basement and they want $1.2 million + 8% Cheesy

They get paid per development, they don't own all the funds learn to read. It's all stored in multi sig, you need to have a reasonable amount of funds to spend to get the project of the ground, it's not just 'the community'. Even if they would get 10 million i would be fine with it, because the project is legit. Gems aims to reach mainstream, it's not the daily complicated one day fly shitcoin with tons of broken features and an anonymous dev with a new account which won't get further than the users in it's own thread.

TaunSew

hero member

Activity: 756

Merit: 506

They already have a working Apple IOS app - this is something programmed in the proverbial basement and they want $1.2 million + 8% Cheesy

The viral marketing concept is heavily flawed as other coins have tried this and it was gamed by blackhat professionals. Yes even some high tech detection gizmo can still be gamed. Blackhat professionals have thousands of authentic looking Facebook accounts, can mask their IPs very well and can get all the free numbers they want from online phone providers.

karmala

sr. member

Activity: 448

Merit: 250

I could not find the the possibility to send btc over gems anymore. This was mentioned in earlier articles I think. I could not find this feature on the website nor in the white paper. If the gems wallet is a counterparty wallet it should naturally be able to store btc or not?
Please clarify this.

e.g. http://www.coindesk.com/gems-bitcoin-app-lets-users-earn-money-social-messaging/

karmala

sr. member

Activity: 448

Merit: 250

Quote from: Netnox on November 29, 2014, 06:12:11 AM

8% is not much at all for such concept, this is not 'just another alt' but a project with high aims and big potential so i rather have the developers to have more funds than less, because then you know they can do bigger things.

But the more important thing is that funds are stored in multisig wallets where they get paid on a milestone basis, so they get paid per development. Adam co-founder of Counterparty (a Crypto with high reputation) releases the funds aswell, so Gems devs don't have control over the funds. That's why i like this project, there is enough funds, project is very promising, the funds are stored in multisig wallets, Gems ceo is visible and active in public relation and promotion.

+1 but this doesnt answer my question for future incentives to keep on the dev work and pay the servers

Netnox

legendary

Activity: 2044

Merit: 1008

8% is not much at all for such concept, this is not 'just another alt' but a project with high aims and big potential so i rather have the developers to have more funds than less, because then you know they can do bigger things.

But the more important thing is that funds are stored in multisig wallets where they get paid on a milestone basis, so they get paid per development. Adam co-founder of Counterparty (a Crypto with high reputation) releases the funds aswell, so Gems devs don't have control over the funds. That's why i like this project, there is enough funds, project is very promising, the funds are stored in multisig wallets, Gems ceo is visible and active in public relation and promotion.

karmala

sr. member

Activity: 448

Merit: 250

Quote from: sparta_cuss on November 29, 2014, 01:28:25 AM

Quote from: seleme on November 29, 2014, 12:27:34 AM

Lol, 3000 BTC and 8% on top of that. Roll Eyes

Fuck, why I'm not tech savvy, this is where money is, not nights without sleep trading.

No, you and fulcare don't understand the math.

They are raising 3000 BTC, and this is the entire initialization market cap of the project. The 8% that will go to developers is not funded externally. So 8% of the marketcap can be used to pay developers over the life of the project. At current BTC prices, this works out to about $91'200. Do you really think that is too much? I don't.

mh thats not enough for them. The funds are also only realeased after certain milestones. How do you guys think to generate funds for your work and the infrastructure in the future?

luckykitty

sr. member

Activity: 533

Merit: 251

So if the IPO is not enough of 50M, do you still Airdrop 30M?

sparta_cuss

sr. member

Activity: 386

Merit: 250

Quote from: seleme on November 29, 2014, 12:27:34 AM

Lol, 3000 BTC and 8% on top of that. Roll Eyes

Fuck, why I'm not tech savvy, this is where money is, not nights without sleep trading.

No, you and fulcare don't understand the math.

They are raising 3000 BTC, and this is the entire initialization market cap of the project. The 8% that will go to developers is not funded externally. So 8% of the marketcap can be used to pay developers over the life of the project. At current BTC prices, this works out to about $91'200. Do you really think that is too much? I don't.

clown.scar

newbie

Activity: 34

Merit: 0

U blew it on the supply. Huh

luckykitty

sr. member

Activity: 533

Merit: 251

8% is not much for a dev team -- if they can really make a good project.

seleme

legendary

Activity: 2772

Merit: 1028

Duelbits.com

Lol, 3000 BTC and 8% on top of that. Roll Eyes

Fuck, why I'm not tech savvy, this is where money is, not nights without sleep trading.

Caribou

newbie

Activity: 7

Merit: 0

I received the mail for the presale.
I like the idea, but I,m still looking for more information.

Where can we read the white paper or something like that ?

Also where can we find information about the gems.
For example, are the 100 000 000 Gems the total amount of gems ever created ?

fulcare

sr. member

Activity: 588

Merit: 254

Quote from: TomKoinify on November 28, 2014, 11:22:31 PM

Quote from: dragnar on November 28, 2014, 11:19:22 PM

Quote from: luckykitty on November 28, 2014, 11:11:24 PM

50% for crowdsale, how about the another 50%?

they hold it for airdrops over the nexst 5 yr,s ( or dump it all over time ) who knows Wink

1. Pre-Sale: 50,000,000 XGEM
Available for purchase by the public during crowdsale, until sale end date or 3,000 BTC cap reached or 50m tokens sold, whichever happens first. Any remaining unsold gems will be sent to a verifiably unspendable address. After the pre-sale gems can be purchased through exchanges such as Bter, Melotic, Poloniex and Counterwallet.

2. Airdrop: 30,000,000 XGEM
Served for daily airdrop distribution. Every day ~27,500 XGEMs are distributed directly or “dropped” into the users' wallets according to a fair and public algorithm. Users are rewarded based on their contribution of introducing other active users to the network. The formula includes the network value, and the number of active users. New users sign up for Gems and the person who invited them is noted by the network, increasing the inviter’s score accordingly. Contribution scores are calculated for every user in the network, and users with larger gems reservoirs will be rewarded more generously than users without gems.

3. Promotional Giveaway: 12,000,000 XGEM
Reserved for community contributions, third party developers, and bounties.

4. Development Team: 8,000,000 XGEM
Reserved for compensating developers. See Fund Allocation.

All of this + more is covered on Koinify's page for the Gems sale, which will be opened to the public on the 1st.

8% for developer!!! So the 3000btc isn't enough. Bye bye

TomKoinify

sr. member

Activity: 364

Merit: 250

Quote from: dragnar on November 28, 2014, 11:19:22 PM

Quote from: luckykitty on November 28, 2014, 11:11:24 PM

50% for crowdsale, how about the another 50%?

they hold it for airdrops over the nexst 5 yr,s ( or dump it all over time ) who knows Wink

1. Pre-Sale: 50,000,000 XGEM
Available for purchase by the public during crowdsale, until sale end date or 3,000 BTC cap reached or 50m tokens sold, whichever happens first. Any remaining unsold gems will be sent to a verifiably unspendable address. After the pre-sale gems can be purchased through exchanges such as Bter, Melotic, Poloniex and Counterwallet.

2. Airdrop: 30,000,000 XGEM
Served for daily airdrop distribution. Every day ~27,500 XGEMs are distributed directly or “dropped” into the users' wallets according to a fair and public algorithm. Users are rewarded based on their contribution of introducing other active users to the network. The formula includes the network value, and the number of active users. New users sign up for Gems and the person who invited them is noted by the network, increasing the inviter’s score accordingly. Contribution scores are calculated for every user in the network, and users with larger gems reservoirs will be rewarded more generously than users without gems.

3. Promotional Giveaway: 12,000,000 XGEM
Reserved for community contributions, third party developers, and bounties.

4. Development Team: 8,000,000 XGEM
Reserved for compensating developers. See Fund Allocation.

All of this + more is covered on Koinify's page for the Gems sale, which will be opened to the public on the 1st.

dragnar

sr. member

Activity: 280

Merit: 250

Quote from: luckykitty on November 28, 2014, 11:11:24 PM

50% for crowdsale, how about the another 50%?

they hold it for airdrops over the nexst 5 yr,s ( or dump it all over time ) who knows Wink

luckykitty

sr. member

Activity: 533

Merit: 251

50% for crowdsale, how about the another 50%?

TomKoinify

sr. member

Activity: 364

Merit: 250

Quote from: luckykitty on November 28, 2014, 09:18:43 PM

Quote from: TomKoinify on November 28, 2014, 08:40:31 PM

Quote from: luckykitty on November 28, 2014, 08:34:47 PM

I have just signed up in the website, so what now?

You should be able to see the BUY button on the project page to purchase XGEM's.

Do you mean I will see the BUY button when the countdown is finished?

I signed up, signed in and clicked Back a project, but only see "[Click here to sign up if you received an early bird invite]".

Sign up if you have recieved an invite, or PM'ed your email to one of us; your email will be whitelisted and able to sign up.

luckykitty

sr. member

Activity: 533

Merit: 251

Quote from: TomKoinify on November 28, 2014, 08:40:31 PM

Quote from: luckykitty on November 28, 2014, 08:34:47 PM

I have just signed up in the website, so what now?

You should be able to see the BUY button on the project page to purchase XGEM's.

Do you mean I will see the BUY button when the countdown is finished?

I signed up, signed in and clicked Back a project, but only see "[Click here to sign up if you received an early bird invite]".

peled1986

legendary

Activity: 882

Merit: 1002

Quote from: karmala on November 28, 2014, 08:42:29 PM

when will the android version be ready?

Architecture for native Java app is ready. As soon as pre-sale is over, the raised funds will be allocated into growing the developer team in order to reach the planned milestones as fast as possible. A more accurate ETA will be given to the community after the pre-sale.

Topic: [ANN][GEMZ] GetGems - Social Messaging App That Pays - Live on Android, iOS, Web - page 247. (Read 597190 times)