Can anyone tell about the distribution of the Sky? How many coins does the Synth have, how many undistributed, whether there will be any drops, sales, etc.
I read the blog on the sky site with distribution tag, but it's not clear for me.
Synth and other core devs of the project may have custody of undistributed Skycoins, though they do not own them. It is not legal in any country to embezzle funds owned by the Skycoin foundation to use for personal gains. These laws are enforceable.
Skycoin uses a novel distribution scheme that i will explain below, and direct you to a fine article that presents another perspective on the matter.
Conventional cryptocurrency distribution will involve ICOs, airdrops, or block rewards. ICOs and airdrops tend to occur over a very short time period and participation ends up being very exclusive. On the other hand, Block rewards are paid out to those who participate in a given consensus algorithm. The behavior of consensus node operators becomes focused around receiving the block reward. This leads to fierce competition, raising the barrier to entry, and/or the formation of mining pools, which act as cartels. These conventional distribution systems have demonstrated a tendency to contribute to the centralization of coin supply, destructive exploitation of policy (ex. spamming transactions to inflate fees.), and development-inhibiting influence over the consensus algorithm.
Why dont DEV'S think about a better way to distribute coins? Then the markets wouldn't end up in a mess.
So for example they always say there's just no fair way to distribute coins/tokens because there's always whales that want to get in on the project early and so they buy up a shit load of coins/tokens at the issue price which is really cheap, then the whales end up controlling the market, because they are the only ones who can dump a shit tone of coins and watch the price drop.
Cannot a solution to this problem be:
BUY LIMIT to how many coins/tokens can be purchased by an individual.
example: max purchase 10,000 SKY per person per MONTH.
Possible or impossible?
Unfortunately there is no way to ensure that markets do not end up in a mess. The whales already exist and they will exert their influence on all markets they can. The only way to inhibit the whales is to establish a strong intrinsic value for a coin through application of the coin within a thriving ecosystem, while at the same time making it impossible for whales to buy up enough coins to control the market over the long run. You cannot depend on the general public to have strong hands in the short term. They will be spooked by every FUD, obediently transferring their wealth to the hungry whales at the drop of a hat.
Skycoin is limiting the number of coins that can be obtained via distribution by locking up the undistributed coins and slowly releasing them over a matter of decades. All undistributed coins are owned by the Skycoin foundation. A foundation is a type of organization, a legal entity, where unlike a corporation, there are no shareholders. The foundation owns itself. The current supply of Skycoin includes 9 million in circulation, and 16 million undistributed. 75 million Skycoin are not yet available for distribution, and will only be released under strict conditions and at a dramatically slowing pace as a percentage of circulating coins.
The distribution plan boils down to:
1. No additional Skycoins become available until the initial 25 million have gone into circulation.
2. No additional Skycoins become available until all undistributed coins have gone into circulation.
3. After the first 25 million, 5 million coins at a time are unlocked and made available for distribution.
4. Batches of 5 million Skycoins can be unlocked and made available at a rate of no more than once per year.
Here is an excellent article by Christian Ott, with infographics and annotations, explaining the history of Skycoin distribution, how it will work in the future, and expressing his concerns . It should be noted that the current automated OTC teller is provided by CryptoWolf, and is OTC passthrough, meaning that only coins already on the market are made available. As of now, no further OTC distribution of Skycoin is planned for the future. Also, the amount of Skycoin subsidizing Skywire infrastructure and used in coinhour buyback will need to be sufficient to support growth of the infrastructure, it will be adjusted over time to ensure this. Skywire is not the only Skycoin incentivized application that is being developed, and it can be expected that much of the distribution going forward will be supporting not only Skywire, but other projects as well.
https://christianott.co/skycoin_distribution_en/