Hmm so it's delayed or even entirely abandoned, the project?
I was getting my funds ready to throw at you Shelᖚy
I was getting my funds ready to throw at you Shelᖚy
AnonyMint's JAMBOX project and crypto-currency for JAMBOX is not abandoned. He is working now. I saw him make some posts today to the Rust programming language forum. Nothing has slowed down.
I am proposing to ICO a new coin which will have the capabilities I mentioned. This coin will be the only route available to you for obtain AnonyMint's forthcoming JAMBOX crypto-currency cheaply at launch. If you want to invest in his work, you will have to do so through the coin I am launching. AnonyMint already explained why it must be structured this way.
The money raised from the ICO I will do, will nearly entirely go to funding the JAMBOX project so we can accelerate it. It is still my hope that JAMBOX will be launched within 2016 if we can raise even just 200 BTC of funding although I'm aiming for 1000 BTC. AnonyMint will doing some work on the coin I will launch via ICO. I explained already the significance of the coin I will launch via ICO. I would like feedback on that plan.
I am accelerating everything now because AnonyMint's health has stabilized and he has made major accomplishments on the every aspect of the research and development.
It seems you expect your platform attract lots of users and then they start using the coin to pay for the music content, which is all right, but what exactly will create value for the coin? Will be the coin traded on exchange to create some value for it? The music content providers of JAMBOX who receive payment in your coin will have to dump the income and convert it to FIAT, but who is going to buy it from them?
Excellent question.
AnonyMint had an error in his presentation. He indicated that social networking users would be selling $10 of coins on the decentralized exchange I will create with exclusive access via the coin I am launching via ICO. I expect the musicians and app developers to accumulate the JAMBOX tokens until they are significant enough in value to exchange on the DE for other coins which can be exchanged to BTC/fiat. So I expect to be acquiring tokens in $50 and $100 morsels, not $10.
I expect also that many musicians and app developers will choose to redistibute the token as incentives for fans and in game currency functions. So not all the tokens will get dumped on to the DE. Thus the demand for the tokens will be higher than the supply until the price rises significantly.
Also as I understand the plan, JAMBOX will also be accepting Paypal, so the JAMBOX token is mostly for those 6 billion who don't have a credit card but also love music and apps. Well let's say 1 billion since not all of them have a smartphone yet but the penetration of smartphones in the developing world is double-digit annual exponential compounding.