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Introducing Peerity, a new community-building platform where you can earn crypto tokens for being a user. I am one of the co-founders and CEO, AMA!

Jan Schets
Nov 10, 2017

Peerity is a revolutionary new social media platform that aims to change the way communities grow and operate online. By rewarding users for performing actions that grow the community, we aim to create  a platform that is inclusive and pro-social. We use the latest blockchain tech based on Tendermint. This makes our built-in token fast and scaleable. We are also running a public tokensale right now. Ask Me Anything!

https://twitter.com/peerity/status/927791757235978245

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Do I need any programming skills to start learning blockchain tech?

Nov 17, 7:10AM EST0

where are you from?

Nov 10, 7:10PM EST0

I'm personally from Belgium. But moved to SE-Asia about 4 years ago.The rest of the founding team are from the USA and Vietnam.

Nov 10, 7:12PM EST0

How does blockchain work to produce coins that support peerity, is it automatic and can it stop or fail for any reason? 

Nov 10, 6:58PM EST0

Our coin creation rate is variable and takes into account the amount of activity on our network. If the activity is low we will have hit the minimum coin creation rate. If we have high activity we will be creating more coins to support the increased reward pool.As long as the Peerity blockchain runs, the coins will be produces according to this variable rate. In theory any kind of blockchain could fail if you take out the validation services, but because of the geographical spread of the peer servers this is highly unlikely.

Nov 10, 7:02PM EST0

You guys plan to let everyone keep their copyrights... won’t that affect creativity of others and their ability to interact, reuse, build on and add to other people’s creations which is an important part of social networks? and isn’t that technically hard to let everyone keep the rights to original content also in terms of tracking all the abuse notifications or will it be more ‘creative commons’ kind of copyrights - use but don’t use commercially?

Nov 10, 6:49PM EST0

We see copyright as something that can hamper creativity and progress. So we dont enforce any kind of copyright, unless we get takedown notices from big copyright holders. For user content, we operate in exactly the same way as other social media.

Nov 10, 7:00PM EST0

Is it possible to combine e-commerce and advertising options with no data tracking? How will you make that happen?  

Nov 10, 6:43PM EST0

With no data tracking we mean we will not keep personal information and sell that. We will have analytics though. But it will be anonymous data which cannot be tracked to an individual user, unlike most other social media.

Nov 10, 6:48PM EST1

Is there a minimum users you need for the platform to function? What’s your user number goal and how can you achieve that? 

Nov 10, 6:39PM EST1

We will slowly add more users to our beta to test the stability and token economics of the platform. We aim to launch with at least 5000 beta testers. Then we will agressively expand our marketing to get more users so we hit 50k in the first year. 

Nov 10, 6:43PM EST0
Show all 3 replies

Will the value of your peer token on the platform depend on the value of the token on the crypto markets? Or if you plan to keep the in-platform rates stable, would that be a  problem when the external prices of token rise too high or drop too low?  

Nov 10, 6:27PM EST0

We will not interfere with the free market. Like all crypto tokens it is almost impossible to achieve a stable market rate. What we will try is to keep demand high enough to achieve growth. 

Nov 10, 6:36PM EST1

Why did you come up with this idea and why do you think people need your platform? 

Nov 10, 6:19PM EST2

We came up with this idea because the current community solutions are not up to par with what we have in mind. We saw an opportunity to combine a proper community platform with a crypto reward possibility for helping communities and groups all across the world. 

Nov 10, 7:04PM EST0

How will you limit the power distribution so that there is not huge distribution between the rich and the poor, the powerless and powerful? As we have seen this fail on Steem where there was mining and Steemit Inc. has 30% of all Steem Power, ned having a huge stake as well, Bernie Sanders trolling users just because he invested a lot of money. Reputation ≠ Power.

Nov 10, 4:24PM EST3

Unlike Steemit, having a lot of tokens in our system does not give you more power to influence rewards. We eliminate the whole 'whale' problem by using an algorithm for the reward system instead of relying on votes from users. We cannot stop people from buying a lot of coins and becoming a big token holder, but we can limit the power they have. That is exactly what we are trying to achieve.

Nov 10, 6:30PM EST1

How did you come up with the activities network? More of my previous question, if I wanted to support a school say in Cambodia, how would I know they were not misusing funds? If you crack this you can track any work relationsship whereever it is taking place. I mean I wanted to have medical data on the blockchain from sensors in the phone, I know iOS Health Kit cannot be tampered with but this seems a whole other ballgame!

Nov 10, 3:54PM EST0

This again will be achieved through social proof. In this example, the school would have their own community on Peerity. As long as the school is posting pictures and other content showing that they are actually using the funds for what they said they would, there is proof. We are relying on game theory to disincentivize people from cheating.

Nov 10, 6:34PM EST0

How are you going to check that activities outside of the blockchain like meetings really took place? Isn't that a hard problem to do?

Nov 10, 3:48PM EST1

We will have a method of social proof to measure this. People who go to an event can scan a qr code on their phone which then gives an indication of how many people joined an event. 

Nov 10, 6:28PM EST0

How long did it take you and your team to develop this? 

Nov 10, 8:47AM EST0

We have been working full-time on this since April this year. We are getting close to opening our doors for a select beta audience. Make sure to sign up for our newsletter to get all the latest news and an invite to our beta!

Nov 10, 6:26PM EST1

Why does the world need Peerity when it already has Steemit?

Nov 9, 10:49PM EST3

We realize people are comparing us easily to Steemit. However our mission and concept is fundamentally different than what Steemit does. Steemit is basically a reddit clone. Peerity as a platform will be able to do much more than just posting text content. So we will be complementary to Steemit more than directly competing with them.

Nov 10, 6:25PM EST0

Will Peerity develop an app, and if so will there be an internal wallet system that not only accepts Peer Tokens, but other forms of digital currency as well so we don't have to connect outside wallets?

Nov 9, 11:06AM EST2

Yes we will develop an app as well. Our internal wallet will only accept our native Peer token at launch. If there is enough interest from our users we might consider adding other currencies to the wallet.

Nov 9, 6:19PM EST0

What is the worst part about using cryptocurrencies?

Nov 9, 9:16AM EST0

What services will Peerity provide when it launches? 

Nov 9, 12:57AM EST2

This will depend highly on the success of our current fundraiser round. If we don't reach our goals, we will have to cut drastically in the features we want to launch with.The bare minimum features we will have is the ability to create any kind of content posts, organize events, and perform crowdfunding. 

Nov 9, 1:58AM EST0

Do I see other people using this tech/company in 3 years?

Nov 8, 12:08PM EST1

We certainly hope so!We want to become a haven for all kinds of groups, organizations, and communities to grow.

Nov 10, 6:40PM EST1

How about day trading crypto?

Nov 8, 12:06PM EST0

Personally, I've only done a few trades manually now and then. I do use automated trading bots on certain coin pairs. I choose to set it to a trading strategy that minimizes risk and provides a slow but steady return. This requires minimal maintenance from my side and makes sure my coins are 'working' for me unattented. 

Nov 9, 2:04AM EST0

Worst part about using cryptocurrencies?

Nov 8, 11:15AM EST0

For cryptocurrencies in general I would say that the worst thing about it is the lack of general adoption. I cannot go to the supermarket and pay directly with cryptocoins from my cryptowallet. I have to use services like crypto visa/mastercard debit cards to be able to do this.Another main issue is the volatility of the price. I bought items with Bitcoin two years ago. If I would calculate the price of those items with the current bitcoin price it seems like I paid too much. So this breeds the holding mentality of most bitcoin users. And this in turn makes bitcoin not a viable method of trading value on a day to day basis.

Nov 9, 2:08AM EST1

Why does the Bitcoin price change so much from month to month?

Nov 8, 9:58AM EST0

There are a lot of answers to this question! At the moment Bitcoin is experiencing a huge boost in popularity. This makes the price going up as more and more people want to get in. But then we have had the issues with forks, so people wanted to switch from altcoin to bitcoin to have their newly forked coins. This is the latest boost, now that they have called off the segwit2x change, the money from Bitcoin is flowing to the altcoins again. It is also very susceptible to any kind of news about regulation in big markets. I suspect it will stay volatile until we see bigger mainstream adoption.

Nov 10, 6:40PM EST0

Do I have any type of advantage investing in this token?

Nov 8, 3:32AM EST1

There are multiple advantages in picking up the PEER token now. First of all, Peer token holders will be able to stake their tokens for a vote in the governance system. Your vote counts!We also allow users to stake away their tokens at a certain validator, this in turn allows the staker to receive a portion of the daily created PEER tokens.Last advantage of investing now is that you get in on the ground floor. We have full confidence that our token is going to be worth more than the price we are now selling it for. Of course, it remains crypto and we cannot predict the future, but we are trying our utmost best to make the token into a success.

Nov 9, 6:24PM EST0

What are the most exciting reasons to become involved with digital currencies?

Nov 7, 8:37PM EST1

For me the most exciting thing about this new technology is that we are taking away the centralized and ridiculous power of the banking cartel and the corrupt governments that protect them. Cryptocurrency is a way to have 'honest' money. Fractional reserve banking has been responsible for most of the wars and misery in the world for the last 100 years. We finally have a chance to stand up against it!

Nov 10, 12:04AM EST0

Would I use the tech/company myself?

Nov 7, 8:34PM EST1

We hope so! We aim to create a platform for anyone who is interested in any kind of community. We hope it becomes a second home for many communities around the globe!

Nov 9, 1:34AM EST0

What are cryptocurrencies like Bitcoin, Steem, Ethereum, and Litecoin?

Nov 7, 4:58PM EST0

Crypto tokens are a form of digital assets that are secured using cryptographic calculations. All of these calculations combined form the blockchain. The main thing to take away from this is that the blockchain is an immutable database, so all transactions that appear are 100% sure to have happened and are correct. This system lends itself perfectly for an honest currency. With this technology, "creative" bookkeeping is impossible.

Nov 9, 1:32AM EST0

How can i mining cryptocurrency?

Nov 7, 3:41PM EST0

Mining cryptocurrencies depends highly on which one you want to mine. if you want mine Dash or Bitcoin, there is specialized hardware available called ASICs. These chips are specifically designed to do mining. If you want to mine with a conventional GPU, you will have to go for currencies such as Zcash or Ethereum. Their algorithms cannot yet be done by ASICS, so GPUs are the best chips for that. Mining crypto can be highly profitable or absolutely not, depending on how high your electricity cost is. Sites such as https://www.coinwarz.com have calculators to see your potential profitability per coin.

Nov 10, 7:58PM EST0

How do I know when it's best to invest?

Nov 7, 3:41PM EST0

The best time to invest is usually when the token price is at its lowest. In most cases this is during an ICO or a pre-sale round. However, and this is a big however, you should perform your due diligence when it comes to investing in crypto projects. Sadly enough, a lot of them are created by scammers or inexperienced business people. A lot of times, this results in a lost investment!

Nov 9, 1:28AM EST0

How is the value of a cryptocurrency determined and where can I see it?

Nov 7, 3:17PM EST1

The value of any cryptocurrency is based on the free market valuation. It is worth what you and me think it is. This can be compared to any stock valuation. Usually, cryptocurrencies that do well have an extensive team and roadmap. The so called 'shitcoins' are usually tokens created out of sheer greed and dont contribute anything to the overal ecosystem.You can see the real-time value of any crypto token on market caps sites such as coincap.io or coinmarketcap.com.

Nov 9, 1:26AM EST0

How can I understand the tech behind cryptocurrency better?

Nov 7, 1:37PM EST0

This Ted talk does a really good job explaining it in a simplified way:https://www.youtube.com/watch?v=KP_hGPQVLpA

Nov 10, 7:06PM EST0

When is it best to sell a cryptocurrency?

Nov 7, 1:29PM EST0

That depends on your strategy. Personally, I don't sell my tokens in my portfolio. When I buy into an ICO, I will sell half of my tokens once the price doubles to recoup my investment. After that I am what is known in the industry as a 'hodler'. I hold on to my tokens in the off chance that one of them goes up 10x or 100x. Of course, there are plenty of strategies if you want to trade. Here is a great quora thread about possible strategies:https://www.quora.com/What-are-some-good-strategies-for-trading-cryptocurrencies-on-Poloniex-com

Nov 8, 7:16PM EST0

Where are the best websites to use for changing fiat like USD and EUR to digital currencies like Bitcoin, Ethereum, Litecoin, and Steem?

Nov 7, 12:06PM EST0

There are many exchanges in different parts of the world. Since they mostly provide the same services, it is usually a personal choice to see which one you like the most.Big names are Poloniex, Bitmex, Kraken, Bitfinex, Bittrex, Bitstamp, or Hitbtc.

Nov 8, 7:09PM EST0

What are crypto tokens?

Nov 7, 11:19AM EST0

Crypto tokens are a form of digital assets that are secured using cryptographic calculations. All of these calculations combined form the blockchain. The main thing to take away from this is that the blockchain is an immutable database, so all transactions that appear are 100% sure to have happened and are correct. 

Nov 8, 7:06PM EST0
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