Topic: [SKY] Skycoin Launch Announcement - page 36. (Read 381582 times)

The wallet does not need to be online to accumulate coin-hours.

You will receive one coin hour for each Skycoin held in an address for 1 hour.

We will launch the Skycoin to CoinHour exchange as soon as possible and get market up.

what i need to do for get coinhours? Should the wallet be online or some other requierments?

>There is no mention of a re-working of the whitepapers.
>Should this not be a priority so that your marketing that has started has reference material.
>This is a technical coin and so the documentation needs to be up to date.

Everyone is so busy.

We are trying to get a technical writer, to just produce content and write articles around the info-graphics we did.

>Why is it only one decimal point change in the coin?
>All other coins have 6 to 8 decimal points.

1 decimal place means ~$0.30

We will enable 2 decimal places when Skycoin hits $10. We can enable the full 6 eventually.

We just do not want people spamming nano-transactions and bloating the blockchain with junk.

>Why not promote the close of the telegram and the slack channel.
>Move completely to discord.

No one is on Discord. We do not use the slack much.

We have Sky-Messanger and our own messaging platform, so will probably move over there eventually.

We also have BBS and our own social media platform.

>Also the telegram was set up wrong. Some people can access the news slack but are locked out of the BB and the main slack.

Telegram bans numbers/users from non-english speaking countries in English speaking super-channels because of spam. Get a google voice number and use that and then should work.

>In my opinions alot of the alts and also BTC and its family maybe will go through another boom market.

Yes. Definitely.

I am seeing junk platforms with no users, trading for almost a billion dollars.

Bitcoin may hit $10,000 by March.

Summary of the Current Bitcoin Market:

This is what is happening on inside track and what we discussed recently....

We will see some ups and down, with marketing going up and down, but volume of money and attention flooding into crypto-assets only keeps increasing.

However, there are VERY FEW real or legitimate coins. There are lot of coins with very nice looking websites and many coins with very nice looking "advisor boards". There are coins raising hundreds of millions of dollars in ICOs left and right.

However, almost none of these coins have any software developers or have the ability to hire or manage software developers or the ability to architect or design software.

However, their marketing is very good. Since they do not have to do software development, they can focus 100% of their energy on their marketing (instead of having to develop things). While the projects who are actually doing real thing are handicapped in this market and ignored.

Some of the projects with no developers who have raised insane amounts of money, have even announced that they will not open source (no one gets to see if they are developing software), until "their AIs are done". So they are going to build some type of artificial intelligence machine learning (LOL, what!?) before anyone can see if they are actually writing code or know how the system they are building is supposed to work.

Since there are so few real projects, we will see MASSIVE floods of money, that are quite rapid, into the small number of real projects.

The time to invest in these projects, between when no one cares when everyone is rushing in and the coin has appreciated are very narrow.

Previously, coins had a period where public could buy them at a low price, before they appreciated. It tooks years (like Litecoin and Bitcoin).

Then for more recent coins like ByteBalls, there were only a few months to buy because it exploded in price from pennies to $800 in merely a few months. Now the appreciation is happening even more rapidly and in an even more compressed time frame.

Now, with projects like Cardano, all of the coins are pre-sold to insiders. Then the coin just magically APPEARS in the top 15 out of nowhere. There is no period when the coin is being bought/sold by a user community. They just sell the coins to insiders, VCs and rich people. Then the coin POPS on the exchange at its full price and then they pay markers to promote it and people to buy it. While the insiders dump as many coins as they can.

So before, there was a period when the public could find a good coin, cheaply and buy it before it appreciated. Today, it is just a cartel of insiders who are already rich, giving each other coins (pre-ICO, lol what?) and institutional sales, before throwing the coin on an exchange and trying to dump as much of it as they can find buyers for.

So the new model is
- the founders and insiders buy in at 1/10th the ICO price
- they sell to public at ICO price (10x what the insiders paid in the "pre-ICO" no one told you about)
- Then they dump the coins on the exchange at the ICO price and support price with the pre-ICO/ICO sales and then market the hell out of the project. Dumping as many coins on the dumb public as they can
- then everyone on the advisor board is doing this for +20 coins. Some of the people are just doing the ICOs, going to next coin and washing/repeating every week.

Most of the "Raised 150 million dollars in ICO!" are fake. Its like five guys taking their money, putting it into the coin and then getting their money back on backend.

The "investors" are demanding extremely steep and large discounts (huge percentages of the coins at extremely large discounts). "All the other coins are giving me 30% of the market rate". The "coin investment funds" are literally popping up, to shop around and try to buy up 5 or 20 million dollar chunks of crypto-coins. 5% or 20% of crypto-currencies at a fraction of the market price, so they can dump them over time on the market for profit.

The old model was
- you release coin
- it gradually appreciates over years as user community and adaption grow
- the earlier people do well and hopefully the project does something useful

The current models is to just scam the public for anything you can get.

I think, from experience with some of the coins I have advised on, from some of the conference calls I have been on, that I can predict that we could see some exchange owners raided at gun point and thrown face down with a gun to their head while their servers are looted and confiscated by the government. Not because their are scamming people, but just because they are clueless and snubbing the wrong person or the friend of the regulators.

Basicly, none of the governments wanted to "Regulate" Bitcoin or the exchanges until the "regulator" and their friends started getting into the market and wanted to push out the other people. In the United States especially, you will have an oligarchy like CoinBase and a few companies and only they are allowed to operate. They are going to start white listing coins, so only their coins get listed and exchanges will be delisting the other projects.

The exchanges that are not owned by the right people are going to be shutdown (or hacked).

They are literally doing "Do what we say and we will protect you" etc then on backend they are trying to get them shutdown at gunpoint so they can put their "licensed" competitor in place. Sort of like Circle trying to integrate Bitcoin into iMessage, then creating a white-list of which coins could go into the Apple App store. Everyone is trying to figure out how they can grab this thing and get control over it.

Just imagine if Apple integrated circle as the "official Bitcoin wallet" and put it in iMessenger, then purged all the Bitcoin wallets from the App store.

The coin market is forming in an oligarchy. People are demanding "regulation" because they are scamming everyone left and right and do not want to compete with other people's scams so they want to own/control the regulation and shut everyone else down. That is basicly what is happening.

I think we may see another round of large hacks, like we did on Gox.

There may not be a regulatory or legal pretense for shutting down particular exchanges (like what happened to BCT-E) and they could be "hacked" and cleared out like MtGox.

There was also a conference call where it was pointed out that the SEC was funded by regulatory actions, fines and asset seizures. That is where their budget comes from.

- The exchanges are ranked by volume.
- Exchanges with no fees can create infinite fake volume, so only the exchanges with trading fees are including in ranking, otherwise its inaccurate
- so to pump up their volumes and stay in the top of the rankings, the exchanges are doing secret rebates of trading fees and other scams to inflate their volume, while the actual volume is much lower
- the exchanges that are most aggressive about puffing their volume and who are least moral are highest ranked
- there is a huge incentive for exchanges to lie and puff their volume (Which is why they are only listing scam coins, who can guarantee high volumes and fees)

Exchanges will not list coin, unless they are guanteed to make a minimum of $5,000 or $40,000 a day in trading fees. So the coin has to be heavily marked to scalp that much money off the user community after the ICO. The exchanges are taking 0.1% on each side (0.2% per trade because they are trading against themselves). So every million dollars a day of volume is draining a coin $2,000/day in exchange fees. Some of the coins are doing $6 or $10 million/day in "paid volume" or "guaranteed volume" ($12,000 or $20,000 a day in volume for medium sized coin). The exchange owners only care about volume.

The scam coins and mega-ICOs are paying the fees and working with the "market makers" to create the fake volume so the exchange owners know how much money they will make.

Kracken probably the only exchange that no one complains about and is not screwing with the volume.

Most people with large orders are actually trading OTC on Bitfinix or other OTC platforms.

Most of the exchanges are making their money on volume and do not actually have maker/taker fees so there is no real order book depth. Making it very easy to rig and manipulate coin prices with a relatively small amount of money (hence OTC has to be used to fill large orders because they cannot be done on the order book). The market structure is just broken and optimized for manipulation

- no maker/taker fees so thin order book depth
- exchanges making all of their fees on volume
- exchanges ranked by fake volume (exchange fake volume)
- hidden trading rebates
- paid market makers (people paid massive fees to create fake volume)
- inaccurate exchange rankings (by fake volume)
- inability to buy/sell on market (need for OTC)
- most of coins off market because of hacking risk (getting Goxed)
- ability to more easily rig billions in coin market cap with little money because no actual order book depth
- emphasis of exchanges only on the largest, most well marketed coins who have done huge ICOs (all of which are scams). No emphasis on technology or real companies
- etc

So for concrete example and instance there are three micro-grid tokens and companies
- one is launching token and is a 100 million/year existing bussiness who has been building and operating combined heating/electricity generation for thirty years. Has whole legal department to deal with regulation and customer pricing laws and compliance. Has existing customers and revenue.
- the other two coins are are massive ICOs that raised tens or hundreds of millions of dollars, but have no software, no employees, no experience building power grids and does not even understand the regulations required to operate in the markets they are raising funds in an ICO for. Has no customers, no revenue, cannot even operate in the markets they are raising funds for.

The result
- The two scam ICOs, already have multiple exchanges lined up to list them, with confirmed listing dates
- The actual company with 100 million/year in revenue with actual power grid projects, cannot even get a phone call or get the exchanges to talk to them

That is what the altcoin market looks like right now. The non-scams are actually being filtered out for economic reasons.

What is happening now is
- the largest generation of users is buying/selling +5 or 60 coins in their portfolio. Someone who owns 60 coins does not have 60 wallets installed on their computer. Even the altcoin investment fund people are having trouble having 15 wallets installed to an offline computer and figuring out how to do offline transaction signing for them.
- they do not even have wallets installed for ANY of the coins. Meaning all the coins are just sitting on exchanges waiting to be looted
- I did a survey of Ethereum users and ask them questions like "What Ethereum Thin Wallet is Best? Is there something like Electrum for Ethereum? What are the best Ethereum wallets?" and most of the "Ethereum Users" have never actually used an Ethereum wallet or cannot answer, do not know. This means all that money is on exchanges somewhere, its not in their wallets.

For the smaller coins (even coins valued in hundreds of millions or billions of dollars), many actually have almost zero real transactions, zero people actually with the wallet. I know this from node IP stats and harvested data I have seen.

Also, for the majority of the coins the volume is fake. There are coins with very impressive volume (which the exchanges are making a lot of money on) and very impressive market caps, but its all fake. Just completely fake. To get enough volume to get on exchanges, you have to agree to pay a market maker to create volume.

So some coins are giving 3 or 5 million dollars in coins to day trade on the exchange, to make the exchange owner money and lure in suckers and if you are an honest coin or not doing that, they wont list you and will complain "Your volume is not high enough" and to go give their friends free coins to day trade and make the exchanges a lot of money.

They know the people that will do this and who wont.

The exchanges are making so much money on the scam and scam ICOs, that they will only list scam coins (which they make more money on). Their whole business is about volume. They can have 10 million/day in "volume" and the real order book depth is ten Bitcoin.

Also, most (the most popular) "Bitcoin News" websites are publishing fake news, "China Bans Bitcoin for the fifth time", "Russia Bans Bitcoin". Then when exchanges shut down something actualy happens (an event) there are ZERO articles about it on those website, because the REAL NEWS is not timed to their market pump and dumps. The media sites are literally just doing timed market pump and dumps with completely fake news. They are even recirculating fake, leaked "regulatory letters" from four years ago as "Just released China banned Bitcoin" news. And every single day is either a "pump day" or a "dump day".

So for 90% of these projects, unless you are an insider and the one rigging the markets and in the cartel, you are not going to benefit from buying any of these coins. They have already appreciated 100x before you will even see them on the market. They are just popping into the top 20 out of no where now, with no one in public able to buy anything before the peak and then immediately crash afterward.

There are almost 0 (ZERO) news websites tracking
- actual technology
- real world usage of blockchain
- real world development (projects with developers)
- smaller projects that are trying to do something more than run a pump and dump for the suckers

The whole market has been taken over completely. The libertarian aspiration of Bitcoin have been killed by simple greed and lust after easy money.

---

There are people who have real data (primary data) and they know which coins have actual users and real user communities. I track this data constantly and the data is pretty bad. The existing coin market is a train wreck.

Since no one every withdrawals coins from the exchange, the data suggests that many coins are selling more coins than actually exist. The trading volume and activity is completely uncorrelated to any real verifiable primary metrics.

People have told me that some exchanges have a history of sudden delisting of some coins without allowing the users to withdrawal. Which would explain what is happening. My attitude now is "If the coins are not in my wallet and on my computer, they do not exist".

Once the regulators lock out the smaller coins from the markets completely with white-listing, the only thing that is getting listed will be two or three multi-billion dollar mega-scams a month. I have no idea what this will look like. Only the biggest, most toxic, best dressed scams who paid off the most people will be able to get listed.

The big changes to the market will be
- multi-coin support (cross platform coin/wallet support standards, people pulling coins off the exchanges)
- DEX (distributed exchanges), the real and long term money has already moved off the exchanges because of the hacking risk.
- real uses of blockchain instead of speculation (actual companies, using tokens for real business functions)

However, the sophisticated people are doing very very well. The people who know what is going on.

Many of the large investors are moving off the exchanges to OTC.

They are boycotting all the coins with one or two "pre-ICOs" where the insiders get to buy at 1/100th the price of the public. They are ignoring the massive ICOs and looking at fundamentals and primary metrics.

It is sort of obvious, to anyone that is not an idiot, that if a coin raised 1 billion dollars in an ICO, that the price is not going to go up 100x (that 100 billion dollars in shucks are going to come along and dump one hundred billion dollars into the coin so that all the people in the ICO can exit 100x when the bought it at before the ICO). Especially if the coin is a "Smart Contract Platform" with no users or applications and not Enron selling a billion barrels a year of oil for E-coin.

IF
- a coin raises 1 billion dollars in an ICO
- the coin WILL NOT increase to 100x the ICO price
- to go up 100x, the existing coin holders have to be bought out for 100 billion (100x the money they put in)
- that money has to come from somewhere (where as the vast majority of coins only lose money and all of their inflows come from people buying the coin for speculation)

So it is obvious that all the best relative returns are in the smaller projects and not the mega-ICOs.

The exchanges are only eager to list the largest coins which by definition are the coins the public will lose the most money on (and which will have the smallest relative returns).

So all the money is being made by avoiding the mega-ICOs and focusing on fundamentals.

Where as idiots see "They raised twelve billion dollars in FIVE MINUTES. I NEED TO MORGAGE MY HOUSE AND BUY THIS IN CASE IT GOES UP 3x AFTER THE ICO". Then all the people who bought the coin at 1% of the ICO in the "pre-ICO" (that you were not invited to), will dump everything at the ICO price as soon as it hits the market.

So at the same time the alt-coin market is completely toxic, I am very happy with it (or atleast it benefits me).

This trend of everyone creating twelve bitcoin forks, so they can get free coins and dump them is also ridiculous.

Skycoin Projects Position on the Smart Contracts Fad:

Skycoin does not have a "Smart Contracting Language". Our blockchain language is a full programming language suitable for both desktop, server, networked applications but with all the features required for blockchain embedding.

CX is an extremely strict, statically typed, affordance based (based upon Alan Kay's COLA architecture),  mathematically deterministic language. CX is designed to support the whole range of applications from being embedded on blockchain, to programming for GPU, FPGAs and achieving power saving and performance on next generation CPU architectures (RISC-V) which have explicit cache load/store instructions.

We are currently prototyping OpenGL support for CX.

CX also has a new website and programming sandbox.

https://cx.skycoin.net

I want to see people writing video games or a poker app or something on CX soon. I enjoyed "GameCoin" and we need more experiments in embedding video games on blockchain like GameCoin.

The Skycoin bounty program will expand to including incentive for video games and applications written in CX on the Skycoin platform.

We believe that "smart contracts" are a fad. In the future when anyone can publish their own blockchain as easily as creating a word-press blog, it does not make sense to cram the real world uses of blockchain scripting onto a third party platform. While we have a programming language it is a programming language designed for actual applications and real world usage, not "smart contracts" (as to date we have been unable to find a single real use or application for smart contracts).

I like huntercoin because it is a blockchain based MMO and we wanted to build a language and platform platform to make gaming and communication applications easy. We did not feel this is even possible with a "smart contracts" language. Expecially because the most popular  application by user are messaging/communication, file sharing and gaming applications.

We also wanted to allow developers to prototype business logic and test applications in CXO (which is like blockchain-lite) before publishing onto a real blockchain, where making updates/fixing bugs becomes much more complicated.

Skycoin is also the first platform that will be able to distribute blockchain state updates globally in less than 300 ms (instead of 15 minutes or 30 seconds) and this is the minimum threshold for "real time" interaction required for several applications like decentralized poker.

Obviously the issues of waiting +30 seconds between interactions and an inconsistent block rate impair the user experience. Bitcoin's rate of one block every 15 minutes makes poker unplayable and Ethereum's rate is still insufferable for real time applications.

I do not see any real world usage, economics or technological capacities justifying the billion dollar valuations of these "Smart Contract Platforms". I think "smart contracts" are already past peak and are in a bubble.

So for us to enable these real applications, required years of technology work to have a platform that could meet these requirements. Regardless of whatever the "smart contract platforms" say in their marketing, these applications are only becoming possible in the next generation. Simply none of the current generation of platforms has a technical solution to overcome the requirements for mainstream adaption.

So I am really excited about doing a bounty to have something like HunterCoin (MMO on blockchain) or some kind of real money rogue-like (NetHack, etc) built on top of CX. "Real Money Dwarf Fortress on Blockchain". It will be exciting to see what people do with this.

Hello Dev

Good luck for your project .

Closely watching the progress !!! Cheers

Update:

Version 20.0 is released

All nodes have been upgraded.


New Wallet:

Completely new wallet from scratch. The new wallet is dozens of times faster.

Blockchain syncing is hundreds of times faster and is almost instant now. The old wallet took 1 second per block to sync. The new wallet syncs a few thousand blocks in a few seconds.

In future upgrade, all blocks will be treated as immutable data objects in CXO, so that the blockchain can be downloaded in parallel across all blocks and all connected peers, using all available bandwidth in parallel with no constraints on the block ordering.

This will be even faster than Bitcoin's "header first downloads" or the rust ethereum approach.

CoinHours:

The new wallet (version 20) now shows the "CoinHours", which users earn for holding Skycoin.

We are working on an exchange for converting and establishing an exchange rate between CoinHours and Skycoin. Coin Hours are similar to the "Gas" in Ethereum or coin aging in Bitcoin, but are exchange tradable and are a separate parallel currency in Skycoin.

Coin Hours are used for transaction fees in Skycoin and will also be used for network resources on Skywire.

Coin Hours may eventually also be used for allocation of distributed computation resources, storage or bandwidth on SkyLedger and any Skycoin side changes with embedded CX scripting language.

The future wallet versions will add API and GUI for being able to specify or split the CoinHour balances in transactions.

If Skycoins are held on an exchange, the coin hours earned will go to the exchange.

Skycoin CoinHours are also a very important part of the Skycoin CoinJoin infrastructure for increasing transaction privacy. CoinHours will be posted as collateral for mixing to prevent participants from backing out of or slowing down CoinJoin transactions. Skycoin CoinJoin transactions improve give mathematical grantee of Skycoin transaction privacy by spending outputs from multiple wallets in the same transaction. This prevents the most common deanonimizing attacks in Bitcoin. When fully implemented, this will give Skycoin ZeroCoin level mathematical guarantee of transaction privacy, with orders of magnitude less complexity and computation overhead than the ZeroCoin implementation, by eliminating the requirement of the highly complicated zero-knowledge proof system.

Skycoin (DEX) Distributed Exchange Support:

We are currently designing a hard coded, 2 factor multi-signature with relative time lock transaction type for Skycoin. This new transaction type will enable DEX and atomic swap support across Skycoin and all Sky-Ledger coins.

We are also evaluating proposals for introducing a third transaction type for atomic swaps between blockchains. However, we believe that atomic swaps between blockchains are not mature yet and that the 2-signature multi-sig with relative time lock is the simpliest/easiest way to implement this.

CX OpenGL Support:

Skycoin does not have a "Smart Contracting Language". Our blockchain language is a full programming language suitable for both desktop, server, networked applications but with all the features required for blockchain embedding.

CX is an extremely strict, statically typed, affordance based (based upon Alan Kay's COLA architecture),  mathematically deterministic language. CX is designed to support the whole range of applications from being embedded on blockchain, to programming for GPU, FPGAs and achieving power saving and performance on next generation CPU architectures (RISC-V) which have explicit cache load/store instructions.

We are currently prototyping OpenGL support for CX.

CX also has a new website and programming sandbox.

https://cx.skycoin.net

I want to see people writing video games or a poker app or something on CX soon. I enjoyed "GameCoin" and we need more experiments in embedding video games on blockchain like GameCoin.

The Skycoin bounty program will expand to including incentive for video games and applications written in CX on the Skycoin platform.

Skycoin Roadmap Finished:

The roadmap is on the website now

https://www.skycoin.net/roadmap/

First Distributed Social Media Platform on Skycoin Platform Launches:

The beta test of the first distributed social media application on the Skycoin platform is ready.

https://www.skycoin.net/downloads/
- go down to BBS

BBS is a peer-to-peer replicated social media application, built upon immutable data structures (CXO) on top of the Skycoin platform.

All database in the Skycoin distributed BBS application is replicated peer-to-peer using the Skycoin CXO library (previously called Aether). Post submissions are submitted over a prototype of Sky-messanger, which is Skycoin's TOX like standard for machine-to-machine communication between public keys ( github.com/skycoin/net ).

Sky-messenger is specifically designed for peer-to-peer machine-to-machine communication, but also has a human usable, Wechat like interface.

Skycoin OTC Market:

Now that the prototype for Sky-messanger is working, we can include an integrated Skycoin OTC market in the next wallet release.

The new wallet will also eventually include "Send to Bitcoin address" function, which should increase Skycoin liquidity.

Skycoin Wallet v0.20.2 is released, highly recommended upgrade.

https://www.skycoin.net/downloads/

If you discover any problems, please report them to the github repo https://github.com/skycoin/skycoin or tell us here/telegram/twitter

Changelog: https://github.com/skycoin/skycoin/blob/master/CHANGELOG.md#0200---2017-10-10

that is ok. Probaly you will need make some promo time when your hardware will be ready and operational.
then promo (like signatures should help you distribute remaining 20% tokens)
I think some people want see results before going deeper into project.

I have 100 to 300 Skycoin bounty for technical writer and infographics.

We need
- news writers
- technical writers
- people who can write info-graphics

We need technical articles like "What is blockchain" and explaining datastructures etc

Yes, the skycoin price will be based on the market value at the time the miner is sold.


Yes, wallet frontend bug.  New wallet is coming this week and won't have these issues. 

I just installed the latest windows wallet but after syncing my balance is gone!

Wallet says I have 0 Confirmed Balance. Is it a wallet flow??

This is my address with a balance of 3150 SKY https://explorer.skycoin.net/app/address/Vq7DUM8vGL81QS8S4SXBNTBvLHpkLf9Eaj

Guy if I want buy sky miner:

https://twitter.com/Skycoinproject/status/912315610696007680

so there you wrote that you sell it for 1 BTC (600$ miner - rest in sky coins)
what will be price of sky coin ? will you use free market value ?

how is the project going now?

FYI - Skycoin's reply on reddit was -

The price is not dead.

When we sell coins on the market, the price goes up.

It is impossible for people to buy at the price they want and no one wants to sell the coin. There is no reason you would sell a coin if it can go from $0.05 to $600 in three months like Byteballs and other coins did. This is a well known dynamic for people who have been watching for the last eight years how the coin market operates. It is especially obvious to people who under the psychology of financial assets and how bubbles occur.

All the coins like IOTA, Litecoin, Byteballs, Bitcoin had very long latency periods.

That is because exponential growth from a small user community, even at 1% per day growth rate takes years to growth to the point that it reaches public conscience.

The user community, technology growth at a continuous, constant rate over years, but the asset appreciation occurs suddenly and violently (once the coin/asset/market breaks a critical threshold of awareness). Then suddenly what you only heard two or three times before over a few months, suddenly begins to appear everywhere. User growth is constant and linear, while public perception, awareness and attention is a threshold function.

If user community is 100 people and growth rate is 1% per day, that is only 1 new user per day. Our telegram doubled three times in users, over last two months and we have not even started on advertising or marketing yet and have almost zero videos and zero marketing towards public and have not done listing on any large exchanges yet for visibility.

The price does not matter either. There are projects that are a piece of shit and barely work, have no value and have massive operating costs (negative cash flow, losses) and who are trading at 120x the market cap of Skycoin. There are very very few blockchain projects that actually have developers, real user communities or actual technology that is useful or can retain a userbase.

The active userbase metrics for Skycoin have increased 8x, but the price has been stable. The price is not the best metric for evaluation, because it is a lagging indicator and lags behind technology, development, marketing and user community by months or years.

Internally, we do not use the price a metric but look at fundamentals such as
- technology development and readiness status
- user community growth
- activity and application adaption
- usability improvements
- improvements in marketing effort and Skycoin structure/organization (how many people are active in the bountry program)

As we have improved the coin and marketing the Skycoin volume has deceased because people have been less willing to sell. When we release major news, the Skycoin price does not increase, but the volume decreases because there are fewer people selling at the market clearing price. When we have done coin drops for testing, the skycoin price goes up, as we sell coins onto the market.

Normally, the coefficient is negative. As you sell X coins onto the market, the market price should decline by Y. However, the market price goes up. The linear coefficient for the market's impulse response function has the wrong sign. "The more coins we sell the more the Skycoin price goes up".

When people sell Skycoin the psychology is "Someone is dumping" and people try to lure them into dumping more by increasing the price. The buyers of Skycoin are trying to acquire long term positions (maximizing the absolute number of coins). So they are buying over time, without increasing the price. However, the sellers are not willing to sell at the current price.

This is consistent with what we are seeing on the OTC markets. There are some people who have 30% or 40% of their total cryptos holdings shifted into Skcoin and they are buying and holding and not participating actively on the markets (but instead waiting for future appreciation).

So the market psychology of the Skycoin market is different than Monero or Dogecoin, where people are just sitting there day trading around the price and creating a high volume. Once we are on a larger exchange, we will see more day trading and high volume, but the buy and hold for early stage or emerging coins, does not generate a lot of volume.

We tried for a few times to do "market making" and put 10 BTC on both the bid and ask side, but the coins were all bought up and exhausted very quickly and we do not know how to set the spread or the price because there were only orders on the buy side and none of th sell, so the bot just runs out of coins, so we could not even run a market making bot successfully. This indicates there is high demand, but that people want to buy at a low price.

We are just going to let the markets do whatever they want, because that is just the way it is. The yoyo bot guy stopped and the market looks a lot better now and there are multiple people actively trading and price has been very stable. So the Skycoin market and order book is maturing.

The people trading Skycoin are also extremely intelligence and sophisticated. They have an extremely high level of technical competency and education compared to the users of other coins. Many of the Skycoin user base also has a very good understanding of human psychology and market behavior.

The Skycoin Community has the highest percentage of Software Developers and Engineers of all the coins. The Skycoin Community is very organized and many of them are planning their coin portfolio allocations out for months and years. They are looking at the new projects, before they are listed on exchanges and they are evaluating the projects based upon technical fundamentals and ability to appreciate in the future. So we do not have the emotional driven market of the other coins and the price has been very stable.

- Skycoin has developers (most of the projects raising tens or hundreds of million of dollars do not have developers)
- Skycoin has its own blockchain (the ERC20 tokens and many of the projects raising tens or hundreds of millions of dollars in "ICOs" do not have a blockchain)
- Skycoin has application, that can be run and work (almost all of the ICOs raising tens or hundreds of millions of dollars do not have applications or are just raising the money to hire developers/or build the applications which do not exist except as vaporware)
- Skycoin has a continuous development history of over almost eight years (while many/most coins have no developers, no blockchain, no development history and no working or demo applications)
- Skycoin has technology. We know what we have to do to solve the problems we are working on. (Instead of raising 100 million dollars to solve a problem that people have been trying to solve and failing for the last four decades with no progress).
- Skycoin has a user community of people. (Not just bots and people flooding channels with bots to claim bounty program rewards and competing for who can get the most bots in their channel.)
- etc

So based upon fundamentals we are doing very well. However, for most of the market it is impossible for someone on the outside to look at a coin and figure out "Does anyone actual use this?", "Does this coin actually have a user community?", "Is that 100 million dollars a day in trading volume real or is it one bot trading with itself to create the appearance of volume?". "Is coin really worth 200 million, or did some guy create 200 million coins and start trading them with himself for $1 a coin?". "Does this coin really have anyone following them on twitter or did they buy 50,000 bots to follow them".

Most of the coins on the market today are completely fake. 100% fake. No developers. No blockchain. No product. Fake liquidity. No user community except for people paid to do activity and make it look like there is a user community. "Lets flood reddit with bots and pay fifteen people $40 a day to make it look like we have a community". ETC "We have a community. Look at our community manager shit posting under 14 different reddit accounts!"

You cannot compare Skycoin to these fake coins. If we wanted to do it the same way, we could do the same thing and make the market cap go to $500 million tomorrow. I can run a bot right now and send the volume to $5 million dollars a day. It does not mean anything.

Skycoin has to be built upon a foundation of reality and not mere appearance. That is why all the attention is focused on the technology and the fundamental metrics, instead of running a penny stock pump and dump. In this market, to do this honestly is a huge handicap.

We anticipate that during these bubbles, people will make a lot of money speculating on dubious assets and projects, however as the bubble deflates the smart money will rebalanced away from the speculative assets into projects which have a foundation in reality and not merely speculative (flight to safety). The current alt-coin market has a penny stock pump and dump, horse betting mentality and is not favorable for real projects. The current market for crypto-asset is still purely speculator driven.

The current crypto-assets market
- Instead of being driven by reason, it is driven by emotion
- Instead of being driven by reality, it is driven by perception.
- Instead of being driven by value, it is driven by speculation

We wanted to differentiate Skycoin by moving away from this and preparing for the phase when the money shift away from the speculative coins into a fundamental or value driven market. However, majority of the market for the immediate future is going to be valueless asset tokens, with no revenue or income and no economic purpose and no economic activity, which have hundred million dollar or billion dollar valuations. The sole value of the token, being that there are people are wiling to buy the tokens for harder, spendable currencies like Bitcoin or fiat (pump and dump).

I believe the next stage of crypto-currencies we are entering will be coins based upon user communities, real economic activity, crypto based applications and commodity backed coins (power grid tokens, bandwidth/telecom coins). Where as the current generation is based upon marketing slogans "We are IoT" (with no IoT devices) and "We have Smart Contracts" (that no one uses).

Then Skycoin also have a large segment of the community is also very patient and is testing out new software (with bugs) or that is difficult to use and install (like the BBS app, mobile wallet and Skymesssanger). So they have some experience with what we are building that the public has not seen and which has not been marketing etc. Many people are closely and personally tracking the Skycoin project progress now and testing the applications.

The price has also been tracking the Yuan and USD. However, in the long term we expect Skycoin will resume tracking BCT. Especially after the OTC market is integrated.

Price is a lagging metric, so is not useful.  Price appreciations can be extremely violent and rapid and often reflect userbase growth or adaption that has been occurring continuously over years. It can also reflect what happens when a coin breaks the level of conscienceness, due to onset of sudden, high intensity, focused marketing and exchange listings (which takes months or years to prepare and lay the foundation for).

We tried to move that to the blog

https://blog.skycoin.net/

Update:

The Skycoin mobile wallet is done.

https://play.google.com/apps/testing/net.skycoin.mobile

We are reamping the content pages for the Skycoin website

We have a new logo now.

Bounty program has been up for a month. If anyone wants to make Skycoin videos, check the bounty program in telegram.

Skywire:

Skywire is working but is getting a rewrite, to use the skycoin/net networking library.

The dashboard for cluster management (node manager) and global network dashboard is currently under development.

Then network will be fully usable for the public for VPN, Socks5 proxy and we will start moving applications on to the new network namespace.

New Wallet:

Version 20 of the wallet is being released. This is a new wallet from scratch and has been in the github development branch of Skycoin for a month now.

Version 20 is several dozen times faster than the old wallet.

Exchange Listings:

The scheduled listing on US exchanges was affected by the SEC letter. The US exchanges still have not resumed listing new coins.

We think all the US exchanges will be dead or irrelevant within two years.

Any US jurisdiction can be seized and the customers coins stolen by the government at any time (similar to what happened to eGold when the US government seized the customers collateral and kept it or MtGox when it went into receivership). There is an extremely long history of governments (especially the US government) just seizing assets and collateral belonging to customers and just stealing the money and assets.

Current regulatory actions in the United States, Japan, Korean and China are accelerating the schedule for adaption of DEX (decentralized exchange) technology.

We should have accelerated and prioritized the time table for exchange listings last year. This set our time table back six months, but is not major problem.

Most of the large coin holdings have been moved off exchange are essentially illiquid because of the risk of theft from government seize, risk of exchange being hacked and/or holders being unwilling to submit themselves to the invasive tracking and surveillance that use of the current exchange entails.

Since most of the Bitcoin are off-market and not on the order books (non-exchange traded), for the above reasons, the market for crypto assets is being set largely by a small number of high speed arbitrage firms with massive volume, whose positions in the order book are extremely thin compared to the total volume of coins in circulation. Meaning that if people attempted liquidation of even 1% of the outstanding volume of issued coins, there would be a severe decrease in coin price and inability to find buyers at the current market price without taking a 30% to 70% discount (depending on the magnitude of the capital outflows which are occurring at the same time).

The crypto volumes are are very large, but deceptive because the volume is from high frequency bots and does not reflect the order-book depth. Even 1% of coins being dumped can completely destroy the order book.

DEX will allow a larger number of coins to be active on the market and order book and increase stability by increasing the orderbook depth (because large holders do no longer need to worry about counter party risk and having their coins stolen, seized or hacked by keeping them on exchange). The increased order book depth should decrease volatility and make it more more difficult for a small number of players to cause large price movements and market manipulations.

So we are expecting most of the market to move to DEX and most of the coin volume to move to coins that have lower transaction times (away from bitcoin) to the coins whose transaction times are closer to the rate of exchanges (currently impossible for all coins based upon PoS/PoW and which has only now become possible with new consensus algorithms, such as Skycoin Obelisk).

I think exchange centralization is a fad or a phase (like MtGox).

We will see more of the altcoin markets internalized because of the regulation and then eventually moved to DEX (decentralized exchange).

We are still working with the existing exchange, but are starting development of the Skycoin OTC market and our exchange federation protocol for enabling DEX.

What is happening is the exchanges are forming "self-regulatory" committees to block the creation of new exchanges (the business is very profitable and they are making 0.1% on each side of every trade on very high volumes). Unless they can regulate out new competitors, the exchanges are unable to maintain their high transaction and trading fees. Then they are creating "white lists" by country and only allowing the listing of crypto assets that the investors/owner groups of the exchanges have invested in or own a large percentage of.

The crypto-markets are forming into a new cabal, that is almost identical in structure and function to the wall-street cabal Bitcoin was developed to rebel against.
- the mining pool cabal (the three mining pools that control the network. Now being challenged by state backed mining pools, such as the Russian government backed entity)
- the exchange cabal (the exchanges approved to convert between fiat and crypto, who price fix the trading fees and exchange fees and use regulation or connections with legacy banking system to exclude competition)
- the coin white-list cabal (Apple white list, Korean whitelist, Japanese White List, etc)

It is very upsetting to watch what is happening in the Bitcoin exchange market. I think this is another phase of crypto. There seems to be a cycle of consolidation and then re-decentralization in response to the abuses once an oligarchy has formed and begins to abuse their power.

In the Skycoin blog, it says- 
 
 
My questions -
1. in SkyLedger, who pays the fee to whom, and how is the fee calculated?
 
 2. Can an empty wallet, sign a message/transaction of " 0" and ignite the running of a CX script of a skyledger? In a way, achieving zero barriers to conmunicating with the script (what ethereum is trying to achieve with self-paying contracts).

https://medium.com/@cryptorand/interview-with-the-skycoin-team-sky-4687fa78e56

Interview with Skycoin team.

Skycoin supports up to 6 decimal points.  We artificially restrict the decimal places at the network layer to limit dust.


https://blog.skycoin.net/statement/skycoin-team/