Topic: Goodomy [GOOD] - Launching May 24, 2018 // From the creator of the first ICO - page 11. (Read 23139 times)

I like the name.

Looks like an interesting project. A couple questions-

- Is this project/platform being managed and developed currently by a team of developers or is this just a solo project from one person "kosmost?"

- Just some unsolicited constructive criticism.  Is this "Goodomy" brand name going forward? I just had an issue with it showing it to a friend and they were confused with the name, the spelling, the difference between goodomy/shopomy etc.  I can see this being a potential problem going forward. I have a marketing background so I'm not just blowing smoke here. -  Please review some brand books or consult with a Brand Development Specialist before going all in on this. The last thing you want are the masses stumbling over the name.  Her final thoughts on it were "Those are horrible names."  Her words not mine, but I don't like the names either from a brand point of view. What about dropping the "omy" and just keeping it GOOD like the ticker?

- There were mentions in this thread of jumping off ethereum to a different block-chain in the future, is this now part of the plan moving forward with GOOD?

Yes. About half of the total supply is in circulation. Approximately 20-30% of the remaining half will be used for the Shopomy 'faucet', while the rest will be made available for operations, marketing, and other expenses.

Goodomy will be the fuel for Shopomy. If someone wants to perform actions on Shopomy they have to use GOOD. (Why anyone would want to participate will become more clear in phase 2.)

I tend to think of Goodomy like the USD and Shopomy like a central bank that pulls its strings. Except in this case the Federal Reserve is completely run by the general public and it's called 'Shopomy'. Seeing how elitist most of the large blockchains have become with small actors unable to provide any influence, this is the setup that made the most sense for me. It puts control of the blockchain back into the hands of everyday people, where it belongs.

Imagine a world where people could control the government not by going to law school or studying political science and becoming a politician but by their ability to eat. (Sounds crazy, doesn't it? But we'll need radical solutions for a radical concept like decentralization of the monetary system.) Everyone eats, so power can be distributed far more equally than if the ability to influence was much more difficult. Some people will eat more than others, of course, and that's fine since there is a natural limit to how much someone can eat. But with Shopomy the more you 'eat' the more it benefits everyone.

How best to distribute power more evenly? Realize that blockchains are economic mechanisms that have social actions at their core. Bitcoin is one such implementation of this, but not a good one. It allows people to with wealth or resources to exercise more control over the system that everyone else. I doubt that this is how Satoshi imagined it.

Making a purchase is a simple act, a common denominator that unites us all. It doesn't mean going to Prada or WalMart. It could be buying gas or food or paying a kid to mow your lawn. Nearly everyone makes some kind of purchase at some point in the day or week, no matter how poor or rich they are. Power by simple social activities could be the best way to true decentralization, at least as far as blockchains are concerned.

When we implement this concept in a way that allows for many more participants it becomes far more valuable, and more decentralized as well.

Shopomy will also make it easy for anyone to get GOOD, which indirectly increases demand. There will also be Goodomy 'faucets' on Shopomy where people can earn free GOOD by performing certain actions. But the core process (REMI) is a different way of thinking about blockchains. Bitcoin runs via computational processes, Shopomy will run via REMI and other siimilar processes.

For our social media efforts, the focus right now is on getting the product out so people begin to use it first and see how it benefits them. Our market is the general public (who have mobile phones and are interested in shopping locally) rather than the cryptocurrency community. We could hype it and tell them how it would be like in future but the average person doesn't care about this. They want to actually see it and use it now. However, if there are any volunteers for social media efforts please let us know what experience you have with it and what you'd like to bring to the table for the Goodomy ecosystem. (But again, it is hard for people to know what they can contribute without knowing how to effectively communicate the benefits of the product.)

The ultimate idea for Shopomy is for people around the world to use it for both shopping and banking, having both in one product. I imagine consumers in the 'First World' using it to buy and sell stuff, but I also imagine Third World users using it not only for buying/selling but also using it to hold the value of their earnings. A steady appreciation of Goodomy-rather than wild market swings-is probably best for this.

Shopomy is designed to be the anchor for Goodomy for this steady appreciation of value. A move from $0.01 to $0.02 for each GOOD would not surprise me, however. Considering the mechanisms in place that is how it is supposed to work. (But a move back down to $0.01 would be quite difficult, considering how the economy will function.)

(Once Shopomy's economy is running smoothly other services may be developed that also utilize Goodomy to transfer value. But for now I'm mostly thinking about Shopomy.)

Hope this helps to explain it some more (even if still vague somewhat).

Yes, EOS will should be ready by June and I'm keeping a close eye on it. XRB (RaiBlocks) is more developed than IOTA and their technology seems to be superior, and I've been looking at those two, as well. Any platform with FREE transactions is a must. If all goes well with EOS we will port to that, or something better.

While Ethereum would be a step up from a Bitcoin fork for its smart contract capabilities, it's not the ultimate solution for our ecosystem. We need things to be dead-simple if the masses are going to adopt it. Complex wallets and solutions might be alright for the crypto community, but the average person won't understand it. An actual consumer product is the way to go and will bring tremendous value to Goodomy. They don't care about the blockchain, just like the average Windows user doesn't care about how Windows works.

• Goodomy (cryptocurrency itself and info on the cryptocurrency) - site launch before product launch
• Shopomy (app for consumers and businesses) - site launch before product launch
• new listing on coinmarketcap - there is typically a 1-3 week delay in their updates, so this will need to be done a bit prior, I think

A marketing push should probably happen for the phase 2 launch, as it is that which would ride momentum best. The phase 1 product is okay, but it isn't game changing. It's not much different than any other app, but provides us with a framework of development (and a deliverable for the community). Phase 2 is where it's at.

The token swap might prove tiresome if we switch platforms later in 2018. But we'll definitely need to swap to an updated ERC223 token either before or soon after product launch. Two swaps in one year? Possibly, but we'll try to make it as easy as possible.

(EOS provides more flexibility and we wouldn't need to perform a swap every time we made a small change to the contract. It's one of the limitations of Ethereum.)

Thanks for your support!

Yes. We're working to get that out before the holidays. However, It won't be up on the Google Play Store just yet because the ability to use GOOD (and REMI and FITE features) will be in version 2. Instead, it will be available from the Goodomy website directly.

v2 will be available from the Play store, with an iOS version to follow soon after (provided that Apple approves it).

The consumer-facing Shopomy website will also be ready by v2 launch.

Has the currency been circulated either?

Thanks for the detailed and quick response, so REMI will be the core process behind Shopomy the app but will have a direct benefit to goodomy. So will it be something that users and customers actually use or is it like a model that can determine market trends in a local setting to help the app reach it's target market?

I understand if you can't say much else on the topic, I am just trying to better understand the aim of Goodomy.

Also what about social media? I cant find any links. Thanks

This is very interesting, as I thought about mentioning it here.I was actually going to suggest EOS. Moving to the IOTA tangle or EOS platforms should be an alternative depending on which favours the good economy more. With that said a token swap would be great, but as far as marketing is concerned it would be great to combine the token swap with release of the mvp and a possible site revamp, and new listing on coinmarketcap, all these activites seperatly increase publicity, but together would cause an explosion.
Great to have read and caught up with whatsbeen happening. Its funny how I had a lot to read after being away for just a week.

great work Kosmost. Anytime I think about good, I think about the immense potential it has to reach $1 per token. I believe this will be the case in 2018.
I'll continue to follow and contribute as much as I can.

Please note that I will be deleting old Karma-related posts over the next few weeks to avoid confusion on the first couple of pages of this thread (as we are now Goodomy)

Thanks for your understanding!

Eidoo, per this page https://erc20-tokens.eidoo.io/

Nothing on MyEtherWallet yet, as far as I can tell. It's a new standard that most Ethereum tokens have not yet adopted.

But from what I can tell, ERC20 contracts should be backwards-compatible.

Hi. Please refer to the November 14 post. The relevant parts are as follows:


also note, from October 15.


Yes, we have been on schedule but have not continued to be on schedule during the last stages of development, testing, etc. That's why I posted the project update and screens at the end of November. As a 'schedule Nazi', I'm very conscious of schedules and when things are due. But not everything is in my hands at this point.

In June, services were planned to be launched in November. It is now December and a working app is close at hand. I posted screenshots of the app a few days ago, because I realize it is somewhat behind my original estimate.

However, there are two things that I offer for consideration:

The first is "developer time". Software development is rarely on schedule, but we've been making excellent progress. More than half of the work has been in strategy, economics, and developing the mechanics behind the system. The app developers have the easy part. But, as noted it is good to double any development estimate. That's just how the process works. So now I am anticipating mid-December.

The second is where you come in. If you'd like to volunteer your resources (either for helping to manage the community, setting up other channels, etc) or help cover the costs (which I'm paying for out of my own pocket for now) it will move along much faster.

But for now, I think it's better to show you something usable first. That's why I didn't want to do an ICO with this project. If Goodomy raised $20M in an ICO, of course, we'd be able to hire all the people we needed. But it's not necessary to do that when something much better is in the works (the ICR+)

Understand, though, that this is not a regular mobile application. I hate to use the word 'revolutionary' but that's what it seems to be. Some pretty amazing things have happened over the past few months and we will be seeing much more of that in phase 2.

First, we will get a working app for phase 1. Your patience is appreciated.

I will continue to keep you updated as to how the project is progressing.

Hope this addresses your concerns. Please let me know if you have any other suggestions to help make this project a success.

I should clarify that a single exchange is better because then we would just need to coordinate with one exchange to handle the swap to make sure everything runs smoothly.

So, the coins on the exchange would be swapped for the new ones automatically.

But I'm also talking with someone regarding porting it to our own system, rather than having it on a platform like Ethereum. Perhaps something like a tangle (rather than a blockchain).I'm thinking of XRB or IOTA's methods that allow for fast and free transfers.

For those of us who don't realize this, it's a good idea to keep some holdings in altcoins whose main market is the coin you want to hold.

For example, if you want to hold Bitcoin because you think it will increase you can then hold another coin that is priced in Bitcoin, that you think will also increase.

Let's say you have 1 Bitcoin and it goes from $10,000 to $15,000 USD equivalent. You're up 150% (after selling, of course)

But if you use that 1 Bitcoin to purchase XYZ and XYZ goes from 100 satoshis to 1000 satoshis, you can then sell XYZ for Bitcoin and be up 1,500%. So that same $10,000 is now $150,000.

Or, if Bitcoin stays at $10,000 but your altcoin moves up 150%, it's the same as you only holding Bitcoin and it going up to $15,000.

Altcoins are not only good hedges but can be profit multipliers.

It also works the same way going down, of course, but there is at least a floor. (Please note that cryptocurrency should not be considered investment. This post is only informational and does not constitute any financial or economic advice.)

Another consideration is the possibility of a swap to a new token contract, a Goodomy ERC20 contract.

The old one (Good Karma) needs to be updated with its name and other metadata and also may need some security updates. It should probably be audited again (even though it's a standard ERC20 contract with very minor changes). We'll also upgrade from the ERC20 contract type to the improved ERC223 standard.

Doing this will be much easier when it's trading on a single exchange. (A single exchange also helps to tighten spreads for smaller coins.) We may also have a way of sending the old tokens to an ETH address and automatically receiving the new tokens back (instead of doing it manually, as was done previously).

January might be a good time to start this, before volume increases substantially.

My apologies for being vague, but REMI is the core process behind Shopomy that will have a direct benefit on Goodomy, while FITE is REMI's core component. (If REMI is a wheel, FITE is the spoke.) Although I can't give much detail at this time (until we hit phase 2 in the first quarter of next year) I will say that any first-mover in this space might very well become the number one cryptocurrency within a few years. It's a $30+ trillion USD market, and a first-mover advantage helps tremendously.

I think of Goodomy like IBM when Watson was hired. He re-focused the company (then known as CTR) on sales and customer service. Like Goodomy, he stressed the importance of the customer rather than putting the technology first and foremost. Your customers will tell you what technology to develop, rather than you telling your customers what they should want (the current state of cryptocurrency). Our "international business machines" will, instead, reside in the blockchain, in REMI.

IBM dominated the industry for decades with this methodology.

The mix of REMI plus ICR+ events* will allow us to dominate an entirely new industry, far bigger than the ICO industry. ICOs are cool, but flawed. ICRs are the next generation. Both ICOs and ICRs are merely events for an overarching process, not processes themselves. But of course people won't really understand ICRs for a while, just like when I introduced the ICO to the world a few years ago. They'll need to see the benefits, and Goodomy will be the first to benefit. They both breathe life into process that can be seen as organic, but do you want the organism to breathe once (like an ICO) or breathe continuously (like an ICR)?

Also, it is important to stress that we are going after one of the largest markets in the entire world: the local consumer market. We're also doing it in a dead-simple way that doesn't require PhDs or lots of capital. It is an idea that may very well change how people shop. This is something that fashionistas in New York and mothers in Nairobi will both want to make good use of. It is something that pretty much anyone who buys something will want to use. And it's a $30,000,000,000,000-dollar market, a pre-existing market that is 100x bigger than cryptocurrency.

Cryptocurrency will definitely be worth trillions as an industry, and the consumer market will be one of those factors in making it happen. If we lead the consumer market for crypto, we'll probably be in the top 5.

We've only just begun!

*ICRs are like ICOs on steroids. It would be like a token having multiple ICOs. Our methodology will also solve the chicken-and-egg problem and 'pre-populate' the network with active participants (a benefit of ICOs). But we will actually do something I call ICR+. The "+" is important for Goodomy and will really propel Goodomy to interstellar space, I think.

what are REMI and FITE?

Hi. Yes, when we have more volume on our current exchange. Should be in January or so. Right now it is likely premature, and exchanges take a long time to respond. When we are a bit bigger, they will be sending us emails instead. Then once we're listed on those other exchanges we'll get more volume from those, too.

I updated the "put some Good in your wallet" page to simplify it, per the new Eidoo app for Ethereum tokens.

it's quite simple. In near future they plan to have an exchange, right in the app. More info on their website.

(Thanks to Kali_Kush for the tip!)

One of the goals of the Goodomy ecosystem is to make our blockchain accessible and easy to use for the average person. This has the benefit of substantially increasing its overall value. It's good that most coin/tokens today don't see the value of this and are so obsessed with technology that they forget the basic rule of business: give people what they want, and find more people to give it to.

I see exponential growth for a blockchain network in these 2 dimensions: scale and magnitude.

With scale, we need more people using our blockchain. Bitcoin is over $10,000 now, but people aren't really using Bitcoin that much. In fact, its accepted in less places today than it was a few years ago. Remember Bitcoin ATMs? Stores and cafes accepting Bitcoin? Yeah.. they're disappearing. But no one is noticing that the ecosystem is not only not growing, but is dying. It is, instead, becoming an instrument for big banks and derivatives. I come across so many cryptocurrency websites that say they are a digital currency but do not actually explain things or show how it works for their market demographic. Why not make it plain and simple so more people can use it? Does it really need to be that complicated? Scale only happens when something is easy to use.

With magnitude, we need the average person to use it more often. This doesn't mean just buying it and holding onto it, but seeing it as an extension of their wallet or purse. This also means that it should be dead-simple to use. The average person does not care about the technology behind it. They only want to know two things: 1) what can they do with it; and 2) who do they know that's using it? Magnitude is a social dimension. People want to use products and services in a way that helps to define their place in society.

When we have both scale and magnitude, exponential growth becomes far more possible. When we leverage blockchain technology to build an environment for organic social experiences while making it easy to participate in those experiences, then we have something truly special. Then people will want to use Goodomy over others because it will be easy to use and have social benefits. The more you use Goodomy, the better your social life will be. (That's why the iPhone became so popular. It was both easy to use and a social experience.)

I had some experience working at a very large ad company for some of the largest consumer companies in the world. Our group handled Marlboro, Kellogg's, Proctor and Gamble, and a few others. I say this to tell you that NOT A SINGLE COIN is giving the general public what they really want. This isn't rocket science. How many thousands of year old is barter and trade? How old is money? The cryptocurrency space should have this figured out by now.

Also, the biggest issue with trying to make blockchains decentralized is that it's hard to counter the human need for authority. We naturally want to control things, I think, and this is happening to cryptocurrencies.

A truly decentralized blockchain would not have a high barrier to entry, such as being able to purchase expensive mining equipment (PoW) or holding lots of coins (PoS). The only good barriers to entry are the lowest ones possible, such as the ability to participate in social experiences. The more people that are able to do something the more decentralized it will be. When we choose common abilities like "the ability to walk" for example then almost anyone and everyone can be an equal authority. For Bitcoin, it's the ability to purchase expensive computers and wait a year or more to receive them, learn how it works, etc. This isn't what "decentralization" is but what elitism is.

A truly decentralized blockchain would also need to be democratic, and that can't happen when transactions aren't FREE. If you need to pay in order to use the system then you're only drifting up to elitism. Authorities still need to be there, but only to make sure that the right incentives are in place for self-organization, not to tell participants how it should be organized (as in the case of coin or token "foundations", core developers, etc).

The future is in free platforms, not ones where you have to pay for every transaction. We'll start this by having most transactions on our own network, then sidechain, then transitioning to one of the free platforms being developed now. We'll talk more about this in a year or so.