Third Announcement: Signal Token Protocol
After consulting with Sutton Stone, we have evaluated our current token system and will be making some significant changes. The biggest change is that we will be consolidating our dual token system of Specs & Signal Tokens into a single token system which only includes Signal Tokens. Signal Tokens will not only be a curation token, but now will also operate as the currency of the platform. We are making this change to further validate our token protocol, and open it up to potentially be used on other media based platforms. We are currently working to create a token infrastructure which can seamlessly be used on platforms such as Twitch or Youtube. We are working to revolutionize the way that media based attention markets interact with their users.
This update to our token system should instill confidence in members that are interested in the Signal Token crowdsale because it adds a new layer of validity and value to our token protocol. The token system we are working to create will have huge possibilities in the future, and the Spectiv platform will be the first use case to demonstrate its value.
Interesting, but not surprising, that the initial responses to your announcement are all bounty scavenge..... sorry, hunters.
Anyway.
I'll chip in with something more relevant to the project itself.
This part of the announcement makes most sense in relation to the video interview I watched the other week.
1) It confirms one key point which I seemed to be picking up, but no-one else was.
2) BUT .... it also contradicts one of the key points of the entire model.
I'll address 2) first as it's a simpler question.
The SPEC token (now defunct by the sound of it) was never a crypto token. Your rationale behind this being that it was for micro-tipping and thus need to be stable and "small scale" (for want of a better description). Removing it from the equation is a considerable change to the model you were proposing around tipping and how it generates income. Are you doing a simple swap here? So SPEC tipping is replaced by SIG tipping? But the stability element around buying that is now gone? There was also flipping between the two mentioned at a couple of points, is that no longer the case? Will it be tip direct with SIG or covert to SPEC first? Or deal in small fractions? Tips seemed to be a revenue stream for content creators. Ads were the only other income stream I was aware of for them. So how does the system work now? Big chunks of the current white paper are gonna need a re-write here ....
And the biggie (for me) is point 1) ....
What you're basically saying here is the token, the bit people will be buying, is not dependent on VR. This was mentioned in the video interview, and seemed like a pretty damned major point to me! But no-one else was mentioning it?!?!? (too worried about their bounties?)
This is a MAJOR point. Why? Because you will be using a LOT of the funds you get to build a platform for VR video. To take on YouTube. In the mobile market. It will cost a lot to build. A lot to maintain. Has huge bandwidth and/or storage requirements.
And yet ......
None of this is actually needed for the token itself.
It could just as equally be applied to any other, established, platform. As you are now confirming.
So, anyone investing is taking a HUGE risk as VR is such an emergent/new/small/niche (all are applicable currently and who knows how long it will stay that way) market. That risk would be reduced massively by simply focussing on producing an attention token. Which is what you are actually doing. In crypto terms. There is nothing really decentralised about the VR part. Seems like a lot of unwarranted spending and risk to me ....
