/biz/ - Business & Finance

>>9292820
How are the coins distributed. I asked this last time and no one answered.

The 8m in circ, who were they given to and why? Who gets the future ones? Why are things like kittycash being released before main net?

I want to buy in but there is no good info out there on the shit that matters

>>9292842
Detailed article here desu... https://christianott.co/skycoin_distribution_en/

I’ve got a buy position sitting but it’s currently way overpriced. Generation 1 Skyminers are a joke.

why is this coin suddenly mooning so hard today when everything else is red ?

>>9292979
For the past few weeks there has been a bot on Craptopia suppressing the price will massive SKY sell walls. We'll all been following it on the Skycoin telegram, watching it gradually sell off hundreds of thousands of Skycoins over the past week. It finally depleted its stack today and the price has responded accordingly. This moon will not stop for quite a while because the price has been suppressed for so long.

Synth reckons the bot was Cryptopia itself liquidating all its assets because they are planning to shut down. Lots of details about this in the Skycoin telegram but basically Craptopia may be preparing to exit scam if Synth is correct, so I would get everything off that shitty exchange if you're holding anything there.

>>9292917
Looks shady as fuck. Why would I buy this? There are three other projects some just as far along if not farther that don't have a sketchy dictator ran "distribution events"

>>9293104
Shady in what way?
Why would you buy it? To make lots of money.

>>9293058
Interesting if true. The biggest counter is why would exchanges intentionally exit scam when they could continue to rake in profits.

Kind of related is there any place for general crypto talk that isn’t retarded. Bitcointalk has transformed into illiterate people and shilling.

>>9293127
Shady that there isn't a transparent public sale at any point? No wonder no one will ever answer that question.

>>9293175
What's shady? The public can transparently buy SKY from exchanges or directly from the Skycoin website. I don't get your point.

>>9293175
The reasons behind the long-term distribution
After looking at how the past distributions were executed and depicting, how future distributions might look like, you are probably still wondering, why the Skycoin project made the decision for this long-term approach. It is in fact such a different approach compared to the distribution of the majority of coins and tokens. To find an answer, we have to remember the precondition for the choice of this long-term approach. Most new cryptocurrency projects choose the distribution method of an ICO, where they sell a large portion of their coins, because they need the money. It is basically a crowdfunding approach to finance their project. However, this did not apply to the Skycoin project. The early developers of Skycoin were very early into cryptocurrencies. They owned Bitcoin before it was a dollar and were therefore pretty well off.34 Additionally, a lot of the early development of Skycoin was funded by a bunch of different companies,35 meaning the Skycoin project didn’t need to fundraise money to finance the development. So, unlike the majority of other coins, they could thoroughly plan their distribution. In their opinion, it is the best approach to distribute coins gradually, with the influx of new coins decreasing over time, which is similar to Bitcoin’s distribution rate.36 They aim to sell small amounts of Skycoin at a time, and will reinvest the received funds into the project’s development and infrastructure.37 To not effect the price per Skycoin negatively by increasing the circulating supply, they intent to release coins slower than the growth of their userbase.38

Ironically enough, this thoroughly planned long-term distribution created occasional fear, uncertainty and doubt around the project over the last few years. Due to fraud committed by other cryptocurrencies in the past and the public generally not being used to long-term distribution models of pre-mined cryptocurrencies, there was fear, the developers would constantly suppress the price by releasing new coins, or even worse, might use their coins to dump them on the market and run away with the money. On a personal note, I can understand this scepticism concerning new ICOs, that don’t have strong fundamentals. However, for me it is hard to maintain this scepticism for a five-year old project like Skycoin. If you go through 200 articles on the official blog or 180 pages of the official Skycoin thread on the Bitcointalk forum, the dedication the developers put into the project becomes obvious. The activity of the Skycoin project on Github since 2014 underlines this dedication. Moreover, to me it seems like people are very sceptical if the developers hold a large portion of coins, but are perfectly fine if a few whales control most of the supply. You might have to ask yourself, who is more likely to dump a coin: A development team, that has worked on a project every day for years and has shown a lot of dedication towards it, or a bunch of whales looking for the biggest profits?

is it too late to fomo in now ? it doesn’t seem to be slowing down !

>>9293104
you clearly didnt watch the video if you think any of your erc20s compare to SKY, and dont also dont understand where your money is going when you throw money at ICOs

Skycoin is not just a cryptocurrency. It's a comprehensive blockchain ecosystem that makes most other cryptos obsolete.

I was gonna pick up more sky before the walls broke, but my other hold is bch and that shit just won't stop mooning

>>9292820
>makes Bitcoin and Ethereum obsolete.
as if LINK hasnt' done this already

>>9292820
Its either Skycoin is the next Bitcoin or nothing

Synth is Satoshi

What the fuck is this? PiedPiperCoin?

>>9293223
>>9293298

This is just some dogshit to hide that the coins are not being transparently released. If the devs are leaking them via private otc sales then it's an insider sham /thread

Skycoin and Link will rule the world side by side

>>9294085
basically, but run by an crypto-anarchist redpilled madman instead of a limp-dicked san francisco soiboi

Go on the telegram of this shitcoin and see for yourself just how desperate these nerds are, it’s hilarious. It’s as if a bunch of beta-Males got together and decided to flip to the other side of the coin, larping, inflated sense of self against the community, and any other psychological deficiency a desperate and poor human being has.

>>9294143

Why has the coin done nothing since it hit the market?

>>9294178
Have you checked the price charts? Now that the Cryptopia whalebot has run out of Skycoins to keep his sell wall up, the price is mooning as expected. $800 by end of year.

>>9294211
You're projecting the current market cap of ethereum by eoy?

>>9294242
Pretty sure he meant price, not marketcap.

Skycoins supply is much lower then ethereums.

Anyway I think $300 by eoy.

>>9294242
I'm simply following the Word of our Lord, the Great Synth.

>>9294330
I'll watch the video. I rarely enter something so far from launch, but it worked with xvg for me. I like the idea of new new internet.

>>9294211
pre-mined cryptocurrency is a scam

>>9294370
The great thing about buying SKY now is that even though the project is seven years old, it's almost like getting in at launch, because they only started marketing in the past few months and it hasn't hit the big exchanges yet. Five big exchanges are planned for the next few weeks, probably including Binance but Synth won't/can't confirm which ones they are.

>>9294373
Please elaborate. Why is pre-mined crypto a scam?

Literal Pajeet coin, only brainlets invest in something with results so little and promises so large.

>>9294412
Because it's created from nothing with no effort, and it's value is derived from the utility it has on the centrally controlled platform.

Retard.

>>9294099
>>9294373
The whole point is to distribute coins based on an actual resource being provided. Instead of PoW mining you're being rewarded for providing actual utility(bandwidth). Yes, you have to trust the devs in regards to distribution rewards. But the benefit is that you can incentivize mass collaboration and create a closed economy.

>>9294489
Brainlet. SKY is distributed to those who actually do something useful and contribute to the resources of the network (storage, bandwidth, computation etc).

Compare that to Bitcoin and other cryptos that are distributed to centralized entities that perform pointless, wasteful, complex math puzzles while consuming more energy than several countries.

SKY is the future, and you've just ironically highlighted one of the reasons why.

skybump

>>9294578
No it has not been distributed to them. Largely it has gone to random groups and small exchanges so fuck off

>>9294878
Also someone claiming something is 7 years old when it isn’t is a sham

Claiming you were a btc dev when the people you supposedly worked under say you weren’t is a sham.

Synth saying he could put it in the top ten but mysteriously isn’t is a sham.

After 6 years they only have a useless box that they sell for 1BTC.
The main dev Synth has not written a single line of code.
He also focuses on crypto kitties which doesn't have any working code as well and they sell jpgs at their actions basically.
That fucker Synth doesn't really care about anything besides killing his boredom with long ass Adderall infused rants about the elites being ebil and other entry level /pol/ shit when he should be working on the fucking testnet. And yes the testnet will never launch and he even complained like a little child on telegram about skywire not working.
They also constantly talk about exchanges yet only get listed on chink ones nobody cares about. They are affiliated with Mrs chink scammer Jane. Synth constantly lies about numbers of devs he just hired (often uses 6 or 60) and pulls out numbers about anything out of his ass all the time.
They couldn't set up any kind of real organization in 6 years. Jon is a crackhead from telegram who made shitty videos and is now in charge of public speaking.
They paid somebody who burns snakes in the desert (search Youtube personalfunfest and Google djhives) to make low quality videos (JJ Jenkins) of a nigger talking about his skycoin riches.
Honestly all this from spending some months on their telegram and speaking of the telegram it is run by some ego tripping faggot calling himself sudo or russ what ever. They pay some bottom feeder to sit in the telegram all day and inflate his ego while being a reddit tier faggot.
This is just the tip of the iceberg the so called white paper is bs and they didn't even bother to finish the consensus algorithm after 6 years. Also Synth can distribute coins when ever he wants and this is basically a centralized shitcoin that hasn't accomplished anything after 6 years.
All this doesn't really take digging and I would be scared to the digging.
Also synths real name is Brandon Smietana even if he denies it.

>>9294989
You need to update this pasta, I participated in the testnet.

>>9294989
Weak fud detected from a salty Holochain cuck.
No code? KEK. The most active github in the entire crypto space for over 5+ years.
The rest of your post is just deranged ranting.
I assume you're mad because of what's happening to Holochain.