So is the other 800,000,000 million coins pre-mined or is someone mining them? Because according to coinmarketcap this coin isnt mineable. Amd at what rate are these new coins being injected in at? Ive noticed over 10 million coins released over the last week.
The funds you are talking about is I guess are unsold tokens which are locked and can't be used (not sure).
Guess dev should clarify. My understanding is that the 800 m or so tokens will be the free HMQ that users of the App (available in July for the unbanked) will get as soon as they register (based on the formula in whitepaper, pls read). This is the incentive for the poor to use this app.
I am not sure about the recent release of 10m coins.
I am not clear how Humaniq will restrict app and free HMQ to only the needy, when anyone can download the App, do a proof-of-face and earn free HMQ. Had aked this question earlier in this forum
What a joke, 800 million coins are going to be 'airdropped' to people with absolutely no money? That is surely going to work out just fine price-wise.
Yeah...not a particularly smart move unless there is a set and strict distribution structure. If we consider it like a 'bounty' as we do for most stupid shit in the crypto community at large, it can be a small quantity of HMQ that you can get for downloading the app and doing the registration steps and set up.
Not a bad idea actually IF that is what they intend to do. But it has to come with steps, you can't just give money away for downloading the app. The user has to show intent on using it. If I get 100 HMQ for using the app, I may want to purchase more down the line with actual money.
Humaniq devs; please let this be what is planned in general. You guys need to be clearer on shit because the previous explanation is not good.
I think the team should have done Airdrop instead of the ICO so as to be fair to everyone, if I can get the tokens free of charge by just downloading the app what incentive to I have as an investors. The 800 million token is too huge to be given out if this is true, unless the tokens are just dummy tokens
Not sure about their endgame here but it looks like they're selling out their investors.
Not really that bad of an idea. It is a marketing technique. So, on the same rationale, if you invest in a company and the company then spends it on marketing, he is 'selling out their investors'? The trick is to get the users to try it once to see how easy and fast it is. This will by defacto increase volumes. Volumes are what every blockchain needs to start building the flow. I still believe that this project will be worth at least 10x as much in the nearer term.
Yeah, so according to their whitepaper, there is a pretty well-defined distribution model for roughly 800mm tokens. Many will be used for incentive-based distribution to penetrate new markets. If I recall correctly, as you use their platform there are milestones that warrant "bonus". For example, create profile, send some HMQ, receive some HMQ, etc. The bonuses decrease over time, so users are incentivized to sign up early and use frequently.
A key point here is to recognize that there are only about 200mm tokens in circulation at the moment, and that there is a pretty well described PLAN for how the other tokens will be circulated in the future. I've not seen a smart contract codifying the distribution, so it's just a whitepapery promise at this point, but I think that dumping 4x the circulation in tokens to "screw investors" seems pretty stupid. I'm betting (and I've bet a fair amount) that Humaniq is in this for the long haul.
Also, as others have pointed out, the apps are running on test-net at this point. Mid-July is the planned release of the first full app running on the ETH blockchain.