Topic: Synereo same ponzi scam like Steem? (Read 4980 times)

I'm glad you have finally seen the light and freed yourself from the Larimer's chains of oppression.

My First Impression on Synereo: Can It tackle Problems Steem Already Resolved? — Steemit
https://steemit.com/synereo/@clayop/my-first-impression-on-synereo-can-it-tackle-problems-steem-already-resolved

This thread is such a good example on why I prefer Steemit to Bitcointalk now...

(Guess what, holding BOTH, Steem and AMP, because there are people called "investors" as opposed to "tribal fanboys").

How's it going Stan?

i got this link from a reddit post:
https://docs.google.com/spreadsheets/d/1r1G-ROS4vgHK84qfn1CBIxuXZQCCvIicCTQSxW1T_mo/edit#gid=1156984041

if its true, it shows there exists 1.68bn AMP which at the current price of 0,165 usd makes it a 277,000,000 market cap.

We all know what it means...its unsustainable, especially that the most of the coins are not on the market yet.
when all coins are well distributed, it can go up because everybody buys and sells the same hot potato, but here we have a huge supply which needs fresh USD to be absorbed as one side is a clear seller who wants USD....

So i don't want to discuss how good the Synereo tech is, maybe its fantastic, but with such a market structure, the expected long returns of this stuff are very bad.

Of course, the float is very small and can be manipulated very easily. I'm not saying AMP can't do x3 or x5 in the short term. But its unsustainable.
And if this information becomes more widespread, it will drift lower.

My main scenario is that at some stage, we will see AMP go -50% or -75% without any reason and only 1 month later, there would be some announcement, that SYN foundation put x00,000,000 of tokens on the market. Of course, the SYNEREO team will make like bandits (like STEEM), will have little incentive to develop their product as there will be too many investors burnt and a lack of faith, so they will just retire in the Bahamas, or prepare the next scammy coin...

TLDR: enjoy AMP while its good, but sooner or later its gonna be in D phase of PnD. AMP is the new STEEM

I'm following both. Steem seems to be in a bad situation atm.

Ok I believe you. But of course forgive me for having my doubts. We have seen many promising ideas in the cryptosphere and almost none of them have given the community something solid. Or maybe a person can say none of them brought something that has a use case. The latest of these high profile failures is Ethereum and we will not even count the smaller projects.

Maybe Synereo is different. Maybe it will deliver as promised and be everything it has said to be. But until I see the nodes online verifying transactions, I will be careful and I will not commit.

You obviously haven't listened to the weekly hangout sessions.  Synereo is a technology stack which is capable of hosting a social media network along with plethora of other applications and dApps which are all interconnected via the underlying architecture and AMP blockchain.  The future crowdsales were planned in advance of the first crowdsale back in April 2015.  So far the devs have delivered on their promises.  If you don't believe me, go listen to their hangout sessions on YouTube or join them on slack.  They are 100% transparent about everything they do.

If it is not released for another whole year then it would be safer to stay away. We still do not know where the developers really doing with the platform. First it was a decentralized social media and then it is now also a platform for smart contracts and they are now organizing another ICO this September? For me to invest for the longterm with them they must be trustworthy and it would help if the known honest people in this forum would comment about them and what they think of them.

It is very hard to find out the truth in this forum because people make lies and talk bad about the coins they do not hold.

You're forgetting that the mass majority of these coins are locked up by the devs, and it is my understanding that they won't be released for years and years.  Who knows how long it will take for the entire sum to be distributed, but my guess is it will be a very long time.  Right now, only ~62.5M out of 1680.4M have been released.  200M of these are the founders coins, and they are locked up in a mutual agreement, which prevents selling unless they all agree.  200M are allocated for new signups, and they will be meted out slowly.  No single individual is going to get a lump sum they can dump from a new signup, and I'm guessing that the signup campaign will last for years.  Same with the 150M allocated to content creators.  Same with the 230M allocated to bounties.  So what you really have here, when you take out those wallets, is another 850.4M AMPs which are allocated to an undisclosed number of future crowdsales.  To my knowledge there will be at least two more, the one in September and another in the future, but there could be more.  During the last crowdsale, 319.6M AMPs were destroyed, because they were unsold.  My guess is there will be more AMPs destroyed during the next two crowdsales.  So the potential is there for another 850.4M to be distributed via crowdsales, but imo, it's unlikely the full distribution will occur.

Here's the breakdown: https://docs.google.com/spreadsheets/d/1r1G-ROS4vgHK84qfn1CBIxuXZQCCvIicCTQSxW1T_mo/edit?pref=2&pli=1#gid=1156984041

You sound pretty bitter.  Upset you didn't buy in during the last crowdsale?

In a relatively short time, a week or two, Synereo will go live in its alpha release.  When this happens, anyone can run a Synereo node to support the network and they will earn "test AMPs".  These "test AMPs" will be redeemable for real AMPs.

Synereo is actually an OMNI bitcoin token. No mining at all yet. The blockchain isn't set to coming out for another year. This is the same strategy that I'm taking with my popular App that's turning into an AppCoin.

I don't think there was any mining at all. It's Proof Of Stake. Like NXT , NEM etc all coins exist from the genesis and are distributed by the devs through ICOs or given away through bounties or allocated for specific needs.
I think by the time it launches AMP should have better distribution than STEEM did (80% of steem was in the hands of few ppl), although best to keep an eye on how the AMP distribution continues. I think they have a spreadsheet somewhere which they update but should be on their website for anyone to see.
I think it's ok for devs to have a sizeable chunk of the coins (for development funds & vested interest), but everything needs to be transparent.

AHHA moment, fuck for it all. I think that this runs because they get support from people who want to get advantage behind all that they do. I've never understood how the system used to work, but I really hate the presence of it all. This is just a manipulation and may be dismantled after they go broke

Ya man, Synereo will limp along for years after poaching 1000 people from the Crypto Ghetto.

Nobody cares about "decentralized", "helped Ethereum", "great devs"...
Or Ripple like incoherencies like "circles of influence" (or insert correct buzzword from 40 pg Whitepaper here).

If there are no seasoned social media marketing people on board = mook skinner.

Amp is an AppCoin. I also have an AppCoin so I know what's going on. What both of us did was create a token using CounterParty or Omni. The token is actually 100% owned by the creator of the token at first not 90%. This makes it a lot easier to raise funds from investors. If you own all the coins you can go ahead and make deals with investors or sell them for a set price during a crowdsale. You can sell small amounts to raise funds and then try for a 2CO and 3CO to continue raising funds and developing the product.

This way of fund raising also eliminates the possibility of a failed crowdfund. If you raise a small amount of BTC, then you only sell off a small % of coins. The creator can assign a valuation for their AppCoin and sell off coins at that price.

No idea but the dilution is ridiculous.

i don't mind if AMP is pyramid scheme like STEEM, all i want is make some profit with altcoins, no matter its maybe scam in future or not. i think maybe in future AMP is going to be like STEEM, but for me as long as i can make profit with AMP, why not? all traders want it just to make profit  but i don't know about the others so i am appologize with my words.

I think it's peoples preferences who like decentralization, they want a DAO to be in charge instead of a person. #TheDAO failed hard, crushing dreams! Now there'll be a period of AppCoins that start out with developers owning all the coins and using them to fund the development of platforms to eventually turn into DAOs.