Hi -
I think Synereo is very promising, mainly because of the involvement of Greg Meredith - who I consider to be one of the best brilliant mathematicians around, combining a deep understanding of math with a very accessible communication style.
I was thinking of buying some AMP now in the sale from Synereo.
I had some questions:
(1)
Can I simply purchase some AMP from an address in my Armory wallet - by sending some BTC to Synereo's AMP sale address? (Of course I control the private key for this Bitcoin address.)
(2)
How long will it take me to receive the AMP from Synereo at my Bitcoin address?(4) After I receive the AMP (to the address where I sent my BTC from), then of course I cannot "see" the AMP in my normal Bitcoin wallet - but
I could (a) "see" my AMP on omniwallet.org, and (b) download a desktop wallet from omniwallet.org, and also "see" my AMP in that wallet.I assume I would not need to sign up at omniwallet.org in order to do (a) - I would simply be using some sort of "blockchain explorer" which they apparently have on their site.
(5)
What are the expectations / guarantees regarding the eventual total maximum coin issuance of AMP?This Google Docs spreadsheet:
https://docs.google.com/spreadsheets/d/1r1G-ROS4vgHK84qfn1CBIxuXZQCCvIicCTQSxW1T_mostates there are currently 929,291,063 AMP in existence.
Is there a guarantee that this is the maximum or "cap"? Or could more AMP be issued?
Conversely, are there some plans regarding more AMP which are intended to be "burned"?
(6) In the case where 929,291,063 AMP really is asserted to be a maximum or "cap":
Is there some way to formally verify this assertion of a "cap"? For example, maybe there is some published source code specifying the long-term AMP issuance algorithm?
Thanks for any help!
(1) If you control the private key then I see no problem buying with that address.
(2) At the end of the crowd-sale we will receive our AMPs (not immediately after I guess, it will take them some time to go through all of the addresses that bought AMPs)
(4) Yes, you can see the AMPs that are contained in a bitcoin address at omniwallet without an account (explorer style). You can even create an account and have a "watch only address" that shows the balance of the addresses you want but omni doesn't have the private keys (you don't upload it). I am not aware of a desktop omni wallet, I think it is only an online wallet.
(5) All AMPs that exist now were created 2 years ago and no more will be created. Unless I missed something (please feel free to correct me here guys).
At every crowd-sale any AMPs that did not get bought are burned.
(6) Not sure on this one.
All correct, thank you.
Synereo can issue up to 5% more AMPs a year - less than the increase in Internet users and social network users year over year in the past two decades - as part of the Proof of Social Contribution mechanism discussed in our original whitepaper.