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Skycoin distribution and centralisation
#1
As a non-technical person, I haven't been able to find this information for a couple of hours (skimming through the whitepapers, site, google), so I think it's worthwhile to clarify it here openly. Please bear with me, it should be of interest to many people like me that are looking at Skycoin but are lost in translation.

According to CMC there are around 7 million $SKY in circulation. How were they distributed? I'm interested to know if the distribution was coded at inception and if so, where can I see the release schedule that's in Skycoin's code. If the distribution is something along the lines of *undecided, up to dev decision*, does that mean distribution is actually centralized? Can the dev team in a hypothetical scenario release as much Skycoin as they'd feel like on the fly? The current Total Supply of 25m tokens has been pre-mined? What portion of this is owned by the Skycoin team? Can the Skycoin block chain be shut down right now?

So CMC also has a Total Supply (25m) listed and a Max Supply (100m). Whats going on with the 18m coins that exist but are not in circulation? Similar to the questions above - is the eventual distribution of this coded and not change-able without forking or is the dev team able to control the coins in a centralized manner right now?

Are the remaining 75m tokens going to be minted by the Skywire miners? What are the block rewards (or similar due to different mining method) and their difficulty change schedule?
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#2
> *undecided, up to dev decision*

That's my understanding from lurking in the Telegram - they are still working out the best way to distribute the coins. Recent examples include OTC and through the first batch of SkyWire miners (whom get approx 1 BTC of SkyCoin)

> Whats going on with the 18m coins that exist but are not in circulation?

I think these are locked in some kind of multi-sig where 8 or so people need to agree to distribute it.

> Are the remaining 75m tokens going to be minted by the Skywire miners

I'd be interested to know this. I thought that Skywire miners would earn coin hours rather than SkyCoin (and its coin hours that people would use to gain access to the Skywire network)
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#3
(01-14-2018, 06:26 PM)djskinner Wrote: > *undecided, up to dev decision*

That's my understanding from lurking in the Telegram - they are still working out the best way to distribute the coins. Recent examples include OTC and through the first batch of SkyWire miners (whom get approx 1 BTC of SkyCoin)

> Whats going on with the 18m coins that exist but are not in circulation?

I think these are locked in some kind of multi-sig where 8 or so people need to agree to distribute it.

> Are the remaining 75m tokens going to be minted by the Skywire miners

I'd be interested to know this. I thought that Skywire miners would earn coin hours rather than SkyCoin (and its coin hours that people would use to gain access to the Skywire network)

I think ultimately the coin hours provided by users will support the miners, but the plan is for the remaining skycoin tokens to be distributed as incentive (bait) to get the network to maturity. I think it will take several years at a minimum before there is enough adoption for skywire to be useful as much more than a novelty.

Which is why we all still have a great chance to be the pillars of the next communication ecosystem.
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#4
The devs should better decide on the distribution and "mining" reward sooner than later. There are already other projects aiming to build things similar to "decentralized internet", and they are creating more hypes with more fans. Better proceed faster because of the first mover advantage and network effect...
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#5
(01-11-2018, 09:04 PM)skyforger Wrote: As a non-technical person, I haven't been able to find this information for a couple of hours (skimming through the whitepapers, site, google), so I think it's worthwhile to clarify it here openly. Please bear with me, it should be of interest to many people like me that are looking at Skycoin but are lost in translation.

According to CMC there are around 7 million $SKY in circulation. How were they distributed? I'm interested to know if the distribution was coded at inception and if so, where can I see the release schedule that's in Skycoin's code. If the distribution is something along the lines of *undecided, up to dev decision*, does that mean distribution is actually centralized? Can the dev team in a hypothetical scenario release as much Skycoin as they'd feel like on the fly? The current Total Supply of 25m tokens has been pre-mined? What portion of this is owned by the Skycoin team? Can the Skycoin block chain be shut down right now?

So CMC also has a Total Supply (25m) listed and a Max Supply (100m). Whats going on with the 18m coins that exist but are not in circulation? Similar to the questions above - is the eventual distribution of this coded and not change-able without forking or is the dev team able to control the coins in a centralized manner right now?

Are the remaining 75m tokens going to be minted by the Skywire miners? What are the block rewards (or similar due to different mining method) and their difficulty change schedule?
(I have not had enough time to find the documentation I'm referring to, but bear with me please). There is an 'official' coin distribution 'plan' somewhere, but I have not been able to find it (I just saw your post now and decided to reply immediately/ASAP before any confusion arises: this is an important issue to many Skyers!). Synth has also explaind this issue on Telegram, but to find something quickly between thousands of posts there takes some time!

If I find it, I will post a reference/link to it immediately, but I do not promise anything as I cannot commit to a fulltime search right away!

(01-11-2018, 09:04 PM)skyforger Wrote: As a non-technical person, I haven't been able to find this information for a couple of hours (skimming through the whitepapers, site, google), so I think it's worthwhile to clarify it here openly. Please bear with me, it should be of interest to many people like me that are looking at Skycoin but are lost in translation.

According to CMC there are around 7 million $SKY in circulation. How were they distributed? I'm interested to know if the distribution was coded at inception and if so, where can I see the release schedule that's in Skycoin's code. If the distribution is something along the lines of *undecided, up to dev decision*, does that mean distribution is actually centralized? Can the dev team in a hypothetical scenario release as much Skycoin as they'd feel like on the fly? The current Total Supply of 25m tokens has been pre-mined? What portion of this is owned by the Skycoin team? Can the Skycoin block chain be shut down right now?

So CMC also has a Total Supply (25m) listed and a Max Supply (100m). Whats going on with the 18m coins that exist but are not in circulation? Similar to the questions above - is the eventual distribution of this coded and not change-able without forking or is the dev team able to control the coins in a centralized manner right now?

Are the remaining 75m tokens going to be minted by the Skywire miners? What are the block rewards (or similar due to different mining method) and their difficulty change schedule?
(I have not had enough time to find the documentation I'm referring to, but bear with me please). There is an 'official' coin distribution 'plan' somewhere, but I have not been able to find it (I just saw your post now and decided to reply immediately/ASAP before any confusion arises: this is an important issue to many Skyers!). Synth has also explaind this issue on Telegram, but to find something quickly between thousands of posts there takes some time!

If I find it, I will post a reference/link to it immediately, but I do not promise anything as I cannot commit to a fulltime search right away!
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