@stellabelle I will give you an unbiased opinion on Synereo. Let me give you some facts. Synereo started as an ICO, and very cheap one at that, the coins they started to sell were only a small part of 800 million, however after the ICO was done they started distribution with a script, the distribution script screwed up at night when they were sleeping, and when they woke up they started two instances of the same script, and ended giving some people double Amp's, making the situation worse. To resolve this situation they immediately shut down the distribution doubled the coins they initially issued and started giving people double what they bought. What was wrong with this? nothing except that the ico was only for part of the coins and another ico was supposed to take place which did not. They doubled the coins they hold and the coins that were initially set aside for development/foundation etc. That put a lot of question marks on their method. They then abandoned the coin to dump slowly on bittrex. No news, no developments. Even the devs were surprised when Amp was listed on poloniex. I will not tell you why now, because I do not want to start fud. On that day me and some other traders purchased a large sum of amps on bittrex and dumped it on poloniex at an extremely high price. The next day one of the devs who lives in Tel Aviv and never in his life left that city showed up, he was shocked at the news of amps making it to poloniex. Of course the dumping of amps started, they no longer needed another ico to dump two billion coins. And yes in the process they created a lot of bag holders, some of which are poloniex whales. So in short before poloniex added Synereo it was virtually abandoned vaporware. And Synereo is still vaporware, alpha or not. Now we have whales on amp that want to exit, recover, or make money. But over their heads looms the fact that there is at least a billion amps left in the hands of people who abandoned the project at one point. I would certainly question the come back when poloniex listed it. I would certainly advice you to be careful and not bet on the underdog. I won't even compare Steem to Synereo. One of the devs of synereo is involved in ETH, and the initial marketing they used to sell the ICO is very sketchy. I have not looked into it recently as I do not look back on such projects, even if they do bring about a new social network as they promise, there is a lot of questions they did not bother to answer on their shady start.
Their tech stack is still unproven, and a work in progress, compared to Steem's tested and proven tech. They already have funds to come up with something good in the end, they surely did sell a lot of amps at an incredible price. I bought mine at 13k satoshi on bittrex and sold them for 90k satoshi an hour or two later on poloniex. People always say in crypto you have to DYOR, take that literally. Promo videos are not research, I take that with a grain of salt. I did upvote however, because I agree with you that we have issues in Steemit and the devs and witnesses discuss that on daily basis trying to come up with solutions. Given time they will reach a consensus that pleases everyone, because everyone is vested in Steem for the long run.
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Thank you for posting this.. I would honestly encourage you to do an actual blog post on this.
You've convinced me to avoid investing in AMPs, at least in the short term. Thank you.
Blake I did a post once about milking the cow, and explained the long term plans of ethereum as I really seen it, I explained how the DAO was nothing but another way to milk the system. It was met with dislike because we are not supposed to start fud. I then edited the post and turned it a 180 degrees of singing praise of the DAO and it's creators. I could not hide the title however. That post might now make me look stupid lol, but I am glad steemit keeps the original version of a post :). All the information I posted about Synereo can be found on the thread, from the faulty start to the abandon part. That does not mean it can not be a financial success in the end for some, it all depends on who is running the show. So do not base you trading investment decesion on what I say. Let the people who support Synereo make their posts and enjoy for now. I would love to see how much a marketcap that project will get with 2 billion coins and some ethereum people involved.
Thanks for the info @joseph - I've loosely followed Synereo's development for a few months and I felt the operation was kind of dodgy. However, I'm still going to try the platform out once it's available to be tested - i think it may end up being too complicated to use based on the features I've read about, but well like what you said "time will tell" :)
Hmm, problems with early mining? Mining relaunch, slowly dumping... Not retaining new users. Sounds like Synereo has some serious problems.
We are okay though... right?
Yes we are "okay", Steemit is evolving in beta with the users, and not everyone has patience for beta. As for mining and relaunch and all that I posted the log yesterday. You do not have to take my word on Synereo, but the steemit devs made the effort to answer questions when the questions are asked. They still do so today. Look at Ned's reply to this post. I was around when Synereo launched and know more about it's history. The pump on Synereo is just that a pump. I hope the people get what they are hoping for, I do not call projects scams. That is always left to the individual. I was around for a long time to call it one way or another and still do not call it, I just question the methods. Remember I trade on coins pumps and dumps too, so my viewpoint on the project does not mean that at one point it's good to get in because the person running the show is good at it or the crowds are in hype mood, but generally when the crowd are in hype mood, you missed the entry point, only few exceptions ever happened. My motto in crypto is " Only time will tell " ...
Thanks for the info, very informative...
I try out everything first and make all my opinions based on personal experience. I will be trying out Synereo as a content creator, not as an investor, unless, it happens organically. I appreciate your information and I would also like to read a full-length post on the topic. In my post, notice i never mentioned the technology on which Synereo is based. Steem's technology is fantastic, world-class. The system works in some areas, but privacy and curation are currently the two areas that are broken. If I am unable to find a superior social network that meets all of my needs, perhaps I will build my own. People forget that no one can own me. I am independent and if a platform no longer listens to a growing group of discontent or meets our needs, then my investment, both in time and money is worthless. That is the nature of being free. The market will decide what's best. Let the free market do its magic.