RE: Forming the GEEK Token Team (Playing With the Numbers)

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RE: Forming the GEEK Token Team (Playing With the Numbers)

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sumatranate in #palnet • 6 years ago (edited)

@geektoken - As a hodler of GEEK, I have some questions about your distribution plan. I agree that your plan is possible, but I am bit concerned about distributing all of the tokens by the end of 2019.

What prevents everyone who receives your token from immediately selling them, including team members?
Are there services or products available that will accept GEEK as payment?
Have you considered distributing GEEK tokens over the course of several years?
Have you considered airdropping GEEK tokens to people who you currently holders, like Creative Coin Crypto?

If you still decide to move forward, I would like to join the team, but I felt it best to express these concerns first for the sake of GEEK.

6 years ago in #palnet by sumatranate

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geektoken 6 years ago

Sorry for the delay and thanks for supporting GEEK.

No matter what system or plan I use there is nothing to stop someone from selling off GEEK tokens for short term gains. There is also nothing to stop hodling GEEK and buying even more at a price driven down by sellers. That's just how free will and markets work. A whale can have some effect on the price but 80% of the tokens that are possible haven't even be minted at the time of this writing. Each team member is paid equally so someone still has to buy a massive amount to be a whale and I am walking away from this project with only 100,000 GEEK so I am not a whale.
There might be an upvote bot similar to what is described in https://steempeak.com/steem-engine/@holger80/how-to-build-a-steem-engine-token-upvote-bot. I just don't have time at the moment to set such a thing up. There are a few other projects developers have been discussing on the steem-engine discord that could utilize GEEK.
I am currently writing the draft of an upcoming blog that should answer this question. If you still have concerns after reading the post you can reply to it after I post it either tonight or tomorrow.
The original GEEK airdrop was based on the PALcoin rich list directly from steem-engine.rocks. When the list was compiled and processed through the EngineAirDrop program there were over 5400 user accounts on the list and even accounts with 0 PAL were on the GEEK airdrop list.

If you are still interested in being a team member please let me know. Also feel free to ask any more questions. Again, thanks for supporting GEEK.

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sumatranate 6 years ago

@geektoken - Thanks for taking the time to write out a detailed response. I do appreciate it!

I would be interested in being a team member and distributing tokens.

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