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Weekly Update: January 29 – Web Wallet, Exchanges, Forum Ranks & More

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Very a nice update. will waiting web wallet exchange iam already know about Genesis a long ago but dont know we have a forum website glad can join a community forum genesis

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The rank program would be good to filter out the spam.  Any hints on how it'll be enforced?

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Ultra neat. The explanations were clear. I'm interested to know more about the Hodl Program. Do we have intentions to run that for good? Maybe we can also revisit the percentage. How about we consider incorporating the concepts of giving interests to regular bank and time deposit accounts? 5 percent is not probably a compelling reason for some to keep their coins in the bank but if we would make that higher, we would get more depositors and Gen coin buyers.  For that to be beneficial for the project, we may consider increasing the required Gen coins for eligibility to get higher interest. 

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On 2/2/2018 at 8:10 PM, cbob1911 said:

The rank program would be good to filter out the spam.  Any hints on how it'll be enforced?

Indeed. In my opinion this is this week's strength in GEN.

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On 03/02/2018 at 12:08 PM, euclid said:

Ultra neat. The explanations were clear. I'm interested to know more about the Hodl Program. Do we have intentions to run that for good? Maybe we can also revisit the percentage. How about we consider incorporating the concepts of giving interests to regular bank and time deposit accounts? 5 percent is not probably a compelling reason for some to keep their coins in the bank but if we would make that higher, we would get more depositors and Gen coin buyers.  For that to be beneficial for the project, we may consider increasing the required Gen coins for eligibility to get higher interest. 

Agreed with euclid. We should have higher interest depending on the amount of gen you hold. The same as the store where you gain when converting more points to coins. 

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3 hours ago, Alvi said:

Agreed with euclid. We should have higher interest depending on the amount of gen you hold. The same as the store where you gain when converting more points to coins. 

The problem with that is that there is not enough supply to raise the interest, there are only ever 16,000,000 coins. Right now the HODL Program is being funded from the coins we have left so we have to manage it carefully.

We also have to take into account the amount of Genesis Points there are as we have to assume that everyone will cash out and we need to be able to fulfil those from our reserves 

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Hi jackson, i was always qondering about that and assumed that everything comes from the 10% left and in website it says that is the amount not distributed. 

Imho there is better ways to make sure the coins tgat are given away helps the future of the community. Dont get me wrong i love the 5points for every message, but as it is not sustainable for very long i think there must be a better formula. 

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11 minutes ago, Alvi said:

Hi jackson, i was always qondering about that and assumed that everything comes from the 10% left and in website it says that is the amount not distributed. 

Imho there is better ways to make sure the coins tgat are given away helps the future of the community. Dont get me wrong i love the 5points for every message, but as it is not sustainable for very long i think there must be a better formula. 

The amount of points given out are subject to change and will be updated as time goes on. There is still a substantial pot and we've planned for the HODL Program and Genesis Points for the foreseeable future.

Hopefully as time goes on, Genesis will be worth more so you a smaller amount of coins will be worth more than a large amount today.

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Based on the current market genesis should be worth more i reckon. 

Looking firward to a great 2018

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A web wallet is a great idea, one that should have a positive influence on the price of GEN in the nearest future

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The total supply is very low and the project is super stunning and relevant. No reason for its price not to skyrocket soon. I believe in this great project. We need to buy a lot of coins now. 

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