Topic: [ANN][GEMZ] GetGems - Social Messaging App That Pays - Live on Android, iOS, Web - page 68. (Read 597186 times)

Well put.  Very excited with the future of getgems regardless of all the speculations...


-tb-

Sorry in advance for the long post, but I think it's worth reading--I believe it explains the philosophical motives and possible tactics that underly this project.

THE UNDERLYING PHILOSOPHY DRIVING GETGEMS AND PAYKEY

Let me point you to a quote from the article Daniel posted that apparently no one has considered:

“The values behind GetGems are the values of the kibbutz,” he says. “Ramat Yohanan is one of the remaining Israeli kibbutzim where everyone is still equal, where people still share their salaries. It’s a prosperous community; our factories are successful. I think it’s amazing that such communities can prosper.”

I think everyone needs to put down their pitchforks and take a step back here. If this were just another Altcoin, I would be the first one to be upset at what's happening here. But it's not--this project reflects a core philosophy that everyone here doesn't understand, because many people come from the mindset of "Take care of me first, and screw everyone else in the process."

I'm not Israeli, nor am I Jewish--I only know what little I've read about their culture, and discussing the topic of kibbutz with Jewish friends. Based on that, I see the Kibbutz movement as trying to create a utopian society where wealth is distributed equally among all of its members. In such a model, EVERYONE is taken care of, not just ONE person. This is essential in understanding the energy guiding this team, because Daniel is being accused of greed, which is LUDICROUS when you consider that Udi Peled, Daniel's father, was the economic director of Israel's kibbutz movement. This means Daniel grew up in a culture that FROWNS UPON GREED. I don't think he can even relate to the anger and fear that people on this forum have, and is most likely scratching his head at some of your responses.

Think about it: If PayKey and GetGems succeed in becoming the most successful payment system in the world, do you think Daniel and everyone in their Kibbutz will be driving around in Ferraris wearing gold chains, sipping champagne all day long?? Of course not, because that wasteful philosophy goes against the entire philosophy of the kibbutz! The goal of this project is to give BACK to the community, and to create a utopian society where greed is taken out of the equation.

So now that we have established motive, we can throw out the idea that the Daniel is NOT trying to screw everyone here, and in fact set out to do the opposite!! So let's break down some of the points people are making on this forum.

People here are not taking into consideration the realities that this team will face with regard to adoption of Gemz and PayKey from mainstream banks. This entire project is a massive chess game, and if it's not played correctly, everyone loses. I've been impressed that Daniel has been very careful not to make promises that will jeopardize this project, and has made accommodations that will allow for increased adoption: one of those accomodations is the use of "white label" software.

WHITE LABEL SOFTWARE

From what I gather, and someone correct me if I am wrong here, white-label software would allow any bank to rebrand PayKey as their own solution, so that Citibank could modify PayKey to offer specific features and rewards for its customers in order to create a competitive advantage over Wells Fargo. This also means that PayKey would operate in a similar manner that VISA and Mastercard do, in that you as a customer see the VISA brand beside your bank's logo on your credit card, but the VISA network operates seamlessly in the background during each transaction.

It is also true that white label ALSO might mean that banks and regulators will want to remove Bitcoin and Gemz payment button from their keyboards or abandon PayKey altogether. If I were Daniel, and banks gave me such an ultimatum, I would drop Bitcoin and Gems payments keys in an instant. In the long run, if consumers want Bitcoin or Gems payments on their keyboard, they will demand it, or go elsewhere that offers it (Like GetGems PayKey!).

Since one of the goals of the team is to increase the value of Gems, they can do so in other indirect ways. Bitcoin and Gemz payments have to come about as a result of consumer demand--not vice-versa! We can't force demand for Bitcoin on people. Creating demand for Gems is where I see the GetGemz messenger comes into play, which is why it STILL plays such an important role in all of this.

BUYING GEMS WITH FIAT

Buying Gems for fiat has to be done very carefully, and may or may not be possible, depending on local and international regulations. Daniel has said it's something that they are actively exploring, which means it is something they want to do. Whether or not they CAN convert fiat to Gems in-app it is another topic.

If they CAN'T do it in-app, there are other options, such as establishing a fiat-to-Gems/Bitcoin exchange, similar to Local Bitcoins, but with the addition of Gems.

In addition, Daniel has stated previously that PayKey will first start off using traditional "on-rail" methods of digital transfer of funds, but hinted that it might eventually move entirely to the block chain.  IF it moves to the block chain, and if Gemz are the currency used, then every time they take a .5% cut off the top of Gemz, that would decrease the total supply of Gems. That seems like the obvious move, especially when you consider the team owns EIGHT PERCENT OF ALL GEMS. They want Gems to work as much as we do!! The programmers behind GetGems are stockholders, just like we are!

"PAYKEY IS THE ONLY GOAL... GETGEMS MESSENGER IS NO LONGER A FOCUS"

If that were the case, then why did the team JUST announce the new desktop interface for GetGems Messenger?? Why did they JUST come out with a new version of both the Android and iOS apps that have increased stability significantly?? Why did I receive a message from the iOS Beta Test support team just two days ago discussing a support ticket for an issue I had?

GetGems Messenger and Gems the currency ARE PART of the entire chess game, people! If I had a billion dollars revenue from PayKey, and I controlled eight percent of the shares of Gems, then what would I do?? BUY OFF THE SELL WALL! Once Gems gets to a certain price, then the referrals will go exponential. If I know that each person I refer gives me $2.50... wait... now it's $5... no WAIT now it's $10!! Guess what I would do? PANIC AND INVITE ALL MY FRIENDS!!! And I would also try to figure out how to buy Gems!! If and when they create an easier method for buying Gems, then ALSO contribute to a rise in price.

Let's just ALL remember that Daniel is not the greedy person he is being painted out to be on this forum. As he posted before, but no one noticed, simply read the Kibbutz article for evidence of this! He recognizes that this community made GetGems possible. He has huge aspirations, and has invited us all along for the ride. Instead of being angry and fearful, take a moment to appreciate what an opportunity this is. If PayKey didn't exist, I would be incredibly excited. But NOW, I am freaking out excited.

I want to give a big thanks to Daniel and the GetGems team for all the work they are doing for this community! If ever doubt begins to enter your mind, just remember the quote from Daniel:

“The values behind GetGems are the values of the kibbutz."

i suppose so. on ZapChain, the sentence was in bold . would have been clearer if it was "end of this" instead of "end of the".

So they are going to release Paykey for getgems still this month?

well said.

lets just wait for the full details from Daniel and his team. Or if anybody wants, you may try to ask all these questions on ZapChain. it Ends in 8 hours and 43 minutes as of from the time i am posting this. for those who are lazy (like me. lol!) and just wanna wait, well...we won't have to wait for long:

Taken from ZapChain: https://www.zapchain.com/a/GW8js0C1ML
"We aim to release PayKey with gems by the end of the month.
PayKey is now also available as a white label solution for any financial services and will be tailored to their specific specifications."

not happy with GETGEMS for whatever reasons, wait it out and see how it turns out, as not all the details are out yet. keep in check with what we know for certain. until then, let speculations be speculations, discussions be discussions.

The lack of clarification from the team regarding paykey(S) is telling even after the AMA. We know we are getting paykey for gems. We know banks will be getting tailored paykey apps.
 What we dont know know is if the Banks paykey version will have any connection to the Gemz ecosystem. IE-Is gemz used in the background as a transfer method for fiat. Will there be advertising on the Banks paykey app and if so, how will it be paid for (gemz/fiat). Will the Banks paykey version have rewards and how will users be paid (Gemz/fiat)?
If not there will be paykey versions competing with paykey for gemz.
If the Banks also have the attention model paying users in fiat, they win as the average guy on the street will go with fiat/bank rather than gemz/bitcoin

I totally agree with you. Attention Economy is the core element of GetGems project.

Attention Economy = how to earn money;

PayKey = how to transfer money;

I think most of the people are more interested in earning money instead of transferring money.

can't be mined as far as i know. either you buy it on an exchange or earn it through various ways on the GETGEMS App.


Quoting myself --- "there's already lots of competition with regards to "sending money". i don't see how the idea alone (sending fiat) is so that important over Attention Economy. because its an old idea that is just getting easier and better over the years ahead." (<--this requires one solid explanation).

On the big picture of sending fiat, we have Bitcoin and whatever altcoins already competing on sending money across borders for nearly free. And we have new payment startups (nothing to do with cryptocurrency) trying to hop on to this boat as well. but GETGEMS will not further groundbreak that groundbreaking because...if the PayKey version for GETGEMS allow fiat to be send to another, its only going to be in a much smaller market - the smartphone market. not the MOBILE market. there's a big difference between the 2.

So even if Banks can do that, that's about all they can hope to achieve. and Banks will also be competing with each other. i mean, lets say i want to use CitiPayKey. but i dont have a bank account with Citibank. i only have UOB bank account. can i still use their CitiPayKey to send money? most probably not. If yes, then its something we still dunno because we dunno how PayKey functions...exactly. does it store money?

But in time to come, when it becomes easier to allow fiat transfers, i am sure it is something that Daniel and his team can implement it in the future. For now, only Bitcoin has overcome that hurdle. Altcoin...none yet whatsoever.

How can I mine this cryptocoin?

There is no competition for sending money like PAYKEY...sending money across all social platforms is unique, apps like Snapchat and FB have walled systems, they can only pay inside themselves....totally different to one app solution which would be very popular. THis actually is the holy grail of online payments that guys like Google and Apple have been fighting for. This ability is the power that the teams holds.....White Label imo just gives that power away.


I still think people not getting that of there are a bunch of apps that use PAYKEY then getgems with Paykey has almost no chance at market share. The name itself suggests there is another pure fiat PAYKEY app in the pipeline honestly.



There will be no attention model if you don't get a lot of users on at least one app....period.  I feel bad not just as an investor but also this is potentially a Microsoft OS moment when microsoft won the right to be the operating system inside new PC's. PayKey instead of being a massive revolution putting Bitcoin and the attention model in front of the masses is throwing that power into the wind. Paykey will make a lot of money for the team possibly but it will just be a small copyright small print proprietary tech that gets sold to Google and no one ever hears of gemz and attention model ever again.

yeap...figured i was missing out the details concerning 'white label application'.

as for bottom line, i can only agree IF banks walk off with the tech and build something similar (as mentioned earlier by you already). but if all the banks care about is just 'sending fiat', then its still fine. firstly, we must not forget the limitations of a keyboard app. how much further can it be developed? there can only be so many functions in/on a keyboard app. Unless of course the banks decide to build an app like GETGEMS (without any social aspect), then the only concern will be if they decide to copy GETGEMS' Attention Economy - AdSpace and Advertisers, viewing ads to earn, etc. secondly, provided they don't copy GETGEMS' Attention Economy, users and advertisers will still flock to GETGEMS for the Attention Economy and Monetary gains. so i don't see any other problems. Thirdly, as for GETGEMS having their own version of PayKey to allow fiat transfers, that's a problem that all altcoin faces. Bitcoin only just overcame this hurdle. So i won't give any comment on this but my focus will be on the Attention Economy.

ehh...provided FB is doing something akin to Attention Economy. really...Attention Economy is one of the crucial components. we cannot overlook this particular aspect. As long as the banks or FB or WeChat or Whatsapp or whoever and whatever don't have Attention Economy, they are gonna lose out. Even if they can start developing their own version of PayKey (never mind an app like GETGEMS since they got that already), there's already lots of competition with regards to "sending money". i don't see how the idea alone (sending fiat) is so that important over Attention Economy. because its an old idea that is just getting easier and better over the years ahead.

But I think what is concerning a few of us is that will NOT be the case. Why would a bank take on PAYKEY tech so they can funnel their customers money and bother with the attention economy? Like Daniel said the White Label would be payment agnostic, banks would use fiat. basically like one poster said if they give the tech out as white label then actually you have created a bunch of competitors with exactly the same tech....Worse still you make getgems almost obsolete offering very little that now wont be available on any social platform.


Like I said I hoped Getgems would create an app and have it all under their own roof forcing it to use BTC and GEMS and the attention model....but having banks connect up with it as a fiat gateway.


I want to be wrong honestly.....

But wasn't this all about the attention economy? Everyone suddenly forgot that? Attention economy is coming and GEMS is the only way to buy ads, are banks having this feature? NO, now regarding paykey, which shitty alt can be used accross all social platforms? none, if anything this is more an upgrade, weak impatient hands are being shaken and exchanged to hands who really are grasping this.

I think what you might not be getting is Gemz doesn't need to be part of PAYKEY at all...I mean once it becomes a white label application. I hate to be crude but the Getgems team don't need to care about gemz as a currency. They would receive their income from banks using their technology and possibly a cut from payments...possibly the 5% mentioned in the presentation. And I honestly think you are living in a bubble to think banks need to care about BTC let alone gems.....they don't....they only need fiat.


Bottom line, if there are multiple ways to use PAYKEY across platforms then getgems with Paykey has almost no chance of gaining any significant market share. Hey even FB could give get people signed up to their version which then can used across other platforms.



I guess I saw the vision as Venmo but better and included BTC and Gems as payment options.......starting to think I was wrong.

glad to hear that Advertisers must and only purchase GEMZ in order to show their ads. otherwise, its game over.

PayKey and Banks?
as for the matter on developing a different kind of PayKey App for others (banks, etc), sounds like the technology of PayKey will be Custom Build for the sole purpose of said banks' own use to better serve their customers. And customers who use their Custom Build Version of PayKey won't enjoy ANY of the Attention Economy stuff like view ads to earn, etc.

if i am not wrong, for a bank to use PayKey Technology, it sounds like its simply trying to take advantage of all social networks + payment apps and skipping the whole "be a part of a social network" or "download this app or that app" just to pay/send money. INSTEAD, empower the smartphone user by giving them the ability to send money to another mobile user. To put it crudely, its like taking out Payment out of the Social Platform (e.g. Facebook) or App Platform (e.g. any app that can send money) and putting it on a much larger platform (smartphone platform). In other words, Daniel is taking this Payment thing to the next level, a much bigger level and also breaking down/bypassing a few barriers (social platform/app platform). It is really groundbreaking come to further think about it. PayKey alone is an awesome idea.

Impact/Effect for GETGEMS
Problem is when we have GETGEMS in the picture and making sure that GETGEMS flourishes when PayKey gets Custom Build for others, to have a win-win situation can be a bit difficult to comprehend this - how will everything work out in the end?

Also, concerning sending fiat from one contact/user to another, will this be a problem for the banks to address and not for Daniel and his team? i am just afraid there might be a loophole somewhere in this GEMZ Economy and Flow. But guess not as already mentioned above by reRaise. would be great if Daniel and his team can go deep into this with full details.

In any case, if more banks employ PayKey Techonology, it only adds to GETGEMS reputation and it goes to show how great PayKey alone is. And it will just be even better to use PayKey for GETGEMS + GETGEMS.

Impact/Effect for Bitcoin
As for Bitcoin, i dunno if this will have any negative impact/effect for Bitcoin. I mean, sure...sending fiat is sending fiat. But it still lacks the crypto aspects of a crytocurrency. where's the decentralized public ledger and Maths Security stuff? So i guess it doesn't exactly or directly have a negative impact. However in the long run, it may just be possible to have an opposite effect - the banks will be pressured to put Bitcoin in and even GETGEMS when Bitcoin/GETGEMZ rises.

Conclusion
I do not know what is Daniel's and his team's intentions/goals are, like maybe they approach banks and say "hey, look at this, with this you can have an edge over your direct and indirect competitors." And then afterwards, they get enticed to completely switch to GETGEMS Version of PayKey when Bitcoin/GETGEMS are doing extremely well.  

Hoping that Daniel and his team have all this...extremely thoroughly well thought out and brainstormed. there must not be a single loophole or some unforeseen circumstance in the future that could setback on the use of GETGEMS app + GEMZ.

Is there anything that i have miss out?  

Banks are not going to use bitcoin or gems, paykey for them will be fiat only. Paykey for getgems and the getgems app we use now will have bitcoin and gems support (maybe fiat?)

Only paykey for getgems and getgems app will have attention economy which require gems to buy ads and paykey for banks wont have this feature. So there are differences.

I totally aggree with nextgencoin and must say that I am really disapointed.... Why the hack do you guys create your own competitors ("white label")? GG with paykey cannot win against Citi with paykey imo... please reconsider not to let your initial investors down and think about ways to incorporate a need for gemz in ALL your apps...

dont get me wrong you did much more than I expected from a alt dev team. Just a bit worried that gg network growth is not top prirority anymore...

Android app is not accepting my PIN. I get a 404 error message with an image of a grandma wielding a rolling pin (intentional pun?).

What should I do?

its here everyone. im surprise no one has pasted the link here yet. but here you go:
https://www.zapchain.com/a/GW8js0C1ML

ends in approximately 19 hours from the time of this post.
so ask whatever you want to ask.

Its just getting more confusing (or maybe i am tired)
getgems app
paykey for getgems app
Other types of paykey ??