Finally the the long distribution process officially ENDED !
529 million tokens will be burned by October 30th !
Total supply will be 470 million and circulating supply will be about 200 Million !
Prepare for big announcements in the month of NOVEMBER !
And please how do we withdraw our earned sat because the one I had on my dashboard I can't withdraw it again the admins said the dateline of withdrawal has passed
Dave
A mod in telegram told me once that the estimated supply was 166 000 000. It may be even less than that, because when I asked I don't think they knew how many people didn't register their ETH address, which was a significant amount if IIRC.
eliran
Well they sold 16.6% + bonuses out of the million available for sale and they said that all unsold tokens will be burned so if they keep their word I think the 240million total supply should be around the right range.
Im actually concerned with some other issue, Ill post it here desperately as a new topic, let me know your thoughts...
eliran
So thats what I think - 16.6% of token sold ( of 650K SAT ) + ~average 50% bonus on top of that will equal to the "65% Token sale" therefore ~24% of 650,000SAT will equal to 65% of all future tokens so total supply after burn is: 240 million. thats my guess.
Hey guys, Id like to share with you my recent concern, will be happy to hear your opinions on that.
Where will Sphere team take all the SAT from, to pay all the users their tokens generates by the activity on this social network ?
Think about it, we are all using this platform and generating these free credits that as per the Admins will be paid in SAT and 1 credit equals 1 SAT.
If this platform will have lets say 500,000 users ( or any number you chose, even 100,000 ) we are talking... moreHey guys, Id like to share with you my recent concern, will be happy to hear your opinions on that.
Where will Sphere team take all the SAT from, to pay all the users their tokens generates by the activity on this social network ?
Think about it, we are all using this platform and generating these free credits that as per the Admins will be paid in SAT and 1 credit equals 1 SAT.
If this platform will have lets say 500,000 users ( or any number you chose, even 100,000 ) we are talking about A LOT of free generated SAT on a daily basis, considering average ( conservatively ) of 1 SAT a day per users generated by them being active here no reserve in the world will sustain it. So where will they pay all these SAT from ??
On the main chat on Telegram ( @sphere_official1 ) the Admins told me they will reserve enough SAT for that, but it doesnt make sense at all as we are talking about millions of newly generated SATs per week that they will have to pay, no reserve will be enough.
Even if they reserve 200,000,000 for that, this reserve will end in a matter of weeks / months.
I cant get over that issue and I didnt receive the right answers from the Admins about it.
eliran
Bnaya, yes I think you are right, Sphere will most likely use the money from advertising and other income sources on the platform to pay the users and will have to decrease the credit rewards or find a new formula that will consider:
1. The total number of users
2. Sphere income
3. Token value growth, the more value SAT has the less SAT/Credits will be given for each action.
Does anyone know how much of a credit any given activity on Sphere represents? I have a suspicion that the values will be a small fraction of a credit for each activity recognized.
BnayaHi Eliran, you have a good point!
I also wondering about it.
1. I think Sphere don't looking for solving this issue yet because if that's the problem it mean we're succeeded.
2. Like referral program in the beginning you get 200 for referral and in the end only 50. The same on app, the most became popular they will pay to less for your activities
3. Sphere can take A little bit fees for buying products on marketplace so they can recycle Tokens back.
4. Because all the issue is about giving... moreHi Eliran, you have a good point!
I also wondering about it.
1. I think Sphere don't looking for solving this issue yet because if that's the problem it mean we're succeeded.
2. Like referral program in the beginning you get 200 for referral and in the end only 50. The same on app, the most became popular they will pay to less for your activities
3. Sphere can take A little bit fees for buying products on marketplace so they can recycle Tokens back.
4. Because all the issue is about giving the power back to users, maybe when Sphere will become so popular all the payments will come from advertisers.
Bruce Goldwell
I get your point. I just joined a program giving away 3.6 Billion coins to those referring others to the ICO. Not sure how Sphere will solve their coin situation so in the meantime, I keep moving forward. Let me know if you want to know how to get any of the 3.6 billion referral coins in the ICO I am in.
Hi, everyone. I'm fairly new in this group, having been invited by a member/ friend here(eliran). I'll be glad if you could kindly let me know how to
tap into this great income opportunity
eliran
Hey, no problem happy to help, just google how you can buy Crypto with real money from your country, once you bought some crypto transfer it to Yobit Exchange or Idex and on these exchanges you can buy the SAT token.
Michael Adoyi
@eliran. Thanks, pal. I'm relatively new in the crypto biz. Only started recently with free btc mining on cryptotab.net. Not really earned much. I'll be glad if you could guide me. Thanks, once more. Looking forward to hearing from you
