We now have 924 Genesis claims! So that's moving along well. If you want to claim using Steemit.com, there are less than 24 hours left to do so - after 7 days have passed, you'll have to use a different interface since Steemit.com only lets you resteem a post within 7 days after posting. I've been told that Busy.org lets you reblog for a longer period. So I'll start using the Busy.org URL for the genesis post: https://busy.org/pocket/@biophil/genesis-pocket
What is the value of a Pocket token?
As I've said before, we don't know yet. A wildly-fluctuating market price has been developing, but I'd urge caution to anybody who is trying to trade Pocket until Genesis is over and we can assess the fairness of the distribution.
There are currently 924 genesis claims; this means the total supply is 924,000,924. Just shy of 1 Billion tokens are in existence as I write this. However, for the next 8 days, there are still nearly 80,000 Steem accounts that are eligible to claim their balances. This means the supply could still theoretically increase by a factor of nearly 100 before it's finally capped forever. Until Genesis is over, you should keep this possibility in mind.
Has Pocket been subjected to a Sybil attack?
A Sybil attack is when one person creates many accounts in order to game some kind of system. For example, one person who owns many accounts could potentially claim 1,000,001 tokens for each of their accounts. I've done this - I own 6 Steem accounts, and 5 of them have claimed Genesis. I know for certain of at least one other person who has 4 accounts who've claimed genesis. Several other people who I don't know have claimed with multiple accounts and taken no measures to hide it, which I respect - they claimed and then transferred the balances from one of their accounts into another.
So you need to ask yourself: what's the maximum number of Genesis claims that a single person should fairly be allowed to claim? When Genesis is over, if we find someone who's made claims with 1000 accounts, should anything be done about it? Here are some possibilities, none of which I endorse at this time:
- Throw Pocket away, because the distribution is irreparably unfair
- Identify Sybil accounts and zero their balance
- Let the market figure it out; the people with way too much stake will sell at a low price and the resulting distribution will be fairer
Each of these has problems; it's not obvious what the best option should be. I'm leery of zeroing balances, and if that happens, I won't be the one to decide to do it. Even if the balances were obtained unfairly, it's a move that would have strong negative philosophical consequences.
On the other hand, if the distribution is wildly unfair, Pocket will just be thrown away by the market itself - and that seems like an awfully unfortunate fate for something that a lot of people are excited about.
So I'm hoping that Pocket's weak Sybil protection works and keeps anyone from amassing an absurd number of genesis claims. The other reality is that a Sybil account cloud operator, if they have any brains at all, should know that they need to self-limit their claims because if they make 1000 claims, it would certainly be caught and would destroy Pocket. But it's not at all clear what number they should limit to - and I could easily imagine a rational Sybil attacker deciding that they could slip 100 claims under the radar.
But, until we've assessed the fairness of the distribution, please take great caution when exchanging SBD or STEEM for Pocket tokens. The supply could still increase by a huge amount, and that increase could conceivably all go to a single person.
always let market figure it out, main abusers you have cut with basic rules of who can claim, there are other sharedrops (even on BTC) and they also cut just dust accounts
Interesting!
I suppose this is going on because steemit allows multiple accounts per person.
Yeah, it's a fairly difficult problem to avoid.
I guess we can hope they would sell them off cheap.
That would be the hope.
This truly is one of the coolest projects I have yet to see on STEEM. Interested to see how it progresses! I hope to see it on coinmarketcap.com some day :)
🗅
Is that why on steam it takes a longer time to completely power down into sbd ?If every one zeroed out and crashed the market the coin would be worthless? thanks for the information.I have followed please feel free to do like wise.
This post is about the Pocket token not Steem
pocketsend:1@onthewayout, checking balance
Successful Send of 1
Sending Account: bbrewer
Receiving Account: onthewayout
New sending account balance: 1049890
New receiving account balance: 0
Fee: 1
Steem trxid: a25b3e009807337563d29c41a230ade194d68c32
Thanks for using POCKET! I am running this confirmer code.
Successful Send of 1
Sending Account: bbrewer
Receiving Account: onthewayout
New sending account balance: 1049890
New receiving account balance: 0
Fee: 1
Steem trxid: a25b3e009807337563d29c41a230ade194d68c32
Thanks for using POCKET! I am running this confirmer code.
Excuse me, but I do not understand where I can see my tokens? You assigned to me trxid: 3caa1570d2eaf245acdfe198be9ede8dc1df47f5 but I do not see tokens in my wallet. Do I need to register somewhere else?
There isn't a wallet exactly, but your tokens are in your account. To check your own balance, send yourself a token by creating a reply that says
pocketsend:1@dlina-v-metrahYou'll get a reply that tells you your balance. It will cost you 1 token to do it, but at the moment it's the only way to see your balance.
I have problem to resteem your post. It has so much comments that i need 1 hour to upload on my phone and i waited 30 min to resteem or comment and it still didn't resteemed. Can you please make new page for resteem without almost 2000 comments uploading.
Go to my blog and resteem it from there. You can resteem a post without actually loading it.
Read these instructions: https://steemit.com/pocket/@biophil/people-are-having-a-problem-resteeming-the-genesis-post-here-s-how-to-do-it
Hi @biophil! Almost one billion coins have already been issued! And this is only half of the issue period! So we are waiting for 2 billion, and maybe more :)
It seems to me that there is no need to worry much about the multi-registrations. As a result, this can affect the depreciation during the beginning, but in the end everything should be leveled. I hope.
I hope so as well!
I'm somewhat expecting to see claims slow a bit in the 2nd week of the issue period, because people won't be able to resteem from Steemit.com and they'll have to use some other interface like busy.org. But 2 billion would be spectacular!
confirm
pocketsend:1@michael-fagundes
Successful Send of 1
Sending Account: michael-fagundes
Receiving Account: michael-fagundes
New sending account balance: 999999
New receiving account balance: 999999
Fee: 1
Steem trxid: 17b6144e18177ce03bb2043e397a7e7a5f2312f6
Thanks for using POCKET! I am running this confirmer code.
Successful Send of 1
Sending Account: michael-fagundes
Receiving Account: michael-fagundes
New sending account balance: 999999
New receiving account balance: 999999
Fee: 1
Steem trxid: 17b6144e18177ce03bb2043e397a7e7a5f2312f6
I am the-tech-guy's POCKET bot. Currently running this code. [2nd try]
Successful Send of 1
Sending Account: michael-fagundes
Receiving Account: michael-fagundes
New sending account balance: 999999
New receiving account balance: 999999
Fee: 1
Steem trxid: 17b6144e18177ce03bb2043e397a7e7a5f2312f6
Thanks for using POCKET! I am running this confirmer code.