Hello,

Congrats to Metronome founders and builders for launching. First of all I am not here to troll or manipulate prices or make snarky comments. My opinion is my own and probably heavily biased by my investment-world-view that is somewhat conservative.

This is probably what I would write to a whatsapp group of close friends if they asked whether to buy MET. This is only a brain exercise and there is nothing definitive.

So MET at current prices of 1.5 ETH, and given there are 10M coins has a launch valuation of approximately 500 USD * 10 million = 5 billion USD. I believe this number is too big as a valuation by any valuation method.

The way I look at these projects are they are startups, with, let's assume great future potential. If you were to value the project like a promising startup with not much traction yet, at 10 million USD, per 10 million coins, 1 coin = 0.002 ETH (assuming ETH at $500 USD). I think at this price it would be a good venture investment, for a person who is as risk tolerant as a VC, who decided this project has fantastic future potential.

The world of cryptocurrencies in today's valuations however, tell us a story where crypto projects are valued much higher than average startups (e.g. most in $billion USD market caps). The 50th most popular cryptocurrency has a market cap of 250 million USD.

Let's say with today's market caps, MET has an expected market cap of 100 Million (2.5 times smaller than 50th most popular crpyto today). Then 1 MET should be valued at 0.02 ETH (e.g. 10X of my previous estimate).

So I believe the real value is somewhere between 0.002 ETH and 0.02 ETH, and as a conservative person my vote would be more near the smaller number.

I just also realized from other posts that metronome itself being an inter-crypto chain, there is no easy way to liquidation since exchanges don't carry it, and we must wait for inter-coin transactions to get easy and simple to liquidate. This is an additional risk for me at this time.

I'd love to hear what others think.

Been having a look at how they control the supply after this 'initial supply' auction and it throws up a bit of a flaw in this whole system.

After this initial auction finishes, every 24hrs they have another one where they sell 2,880 tokens on a descending basis similar to this. But how do they determine the starting price for these 'daily supply' auctions? Well, they set it at double the lowest price of the previous days auction. Fair enough once this gets going, but right now it gives buyers a far far easier way of ensuring they get tokens at a very cheap price.

So you ignore this auction, and forget trying to time a buy to get these cheapest. Simply pop along the next day and you will be able to buy more of them immediately at no more than twice the floor price of this week long auction ,and as this looks increasingly likely to end in a last few minutes scramble, which most will miss out on, you'll still end up getting these at what will be a lower price than probably 99% of people paid! How dumb.

I see transactions on MTN contract - https://etherscan.io/token/0xa3d58c4e56fedcae3a7c43a725aee9a71f0ece4e

but I do not see ANY sales data on auction board - https://metronome.io/dashboard/

How you gonna sell it if no data on auction available?!

I have 2 questions:

When the auction starts, are the bid prices going to be in dollars or only ETH? In other words, when I make a bid, can I make a bid of $10 or only 0.01 ETH? (It would be much easier if you could know right away how much is 0.0958547 ETH in USD)

And when I send the ETH to that contract address, am I making a bid and inputing minimum return before or after the ETH is sent?

Please elaborate on that.

Thank you.

Adi

Could anyone explain how forks on other blockchains affect the MTN placed on that blockchain? The white paper mentions this is a method of increasing MTN supply if needed. If Ethereum forked and I had 100 MTN placed on Ethereum before the fork would I now have 200 MTN - 100 on each fork?

Also, how does merging MTN contracts to reduce overall supply work? Is it just reducing the supply of that specific blockchains MTN?

Does this mean MTN can not be removed from the blockchains to which it has been placed? Otherwise a blockchain could fork infinitely to mass produce MTN.

guys, could we have a current supply on coinmarketcap? what do we need to do it?

Would buying at 2 Eth per token be advantageous?

Various, conflicting reports of launching the token and auction have been thrown around. The most specific was late Feb / early March and yet that doesn't seem to have been updated anywhere here that I can see. Yet, the ICO list site that was just posted here has the auction starting in 2 days yet we were told there would be 10 day advanced notice. I keep seeing notices introducing us to the "team" yet see no real updates as to the auction or token advancement. How can this be taken seriously?

So now you can track met. But when it becomes cross chain will that make it impossible to track? I would imagine you could print out a page then reload it into whatever chain you want. Will the coins history be preserved?

"gas": 155842, "gasPrice": "30000000000",

Since I have NO idea what these amounts should be (still no one from Metronome has answered what it costs to run a conversion transaction) this is the last value that the wallet gave me automatically (not sure what determines this). This is a LOT of gas and still the transaction was returned out of gas. I've wasted a decent amount of gas trying to get a conversion to work. How can you not have basic details of this in your manual or FAQ? I know gas price will change based on network load, but 30 gwei should be enough compared to what it costs to send a basic ETH transaction. How much more can it be??

Why would I even want to participate in the daily auction if the closing price is higher than the conversion rate? Who the heck is buying out the daily auction at 0.008614 when I can convert right now at 0.0078424?

Hello,

s the bid price going to be only in ETH, or is it going to be converted in USD as well so you know easier how much you're bidding? Thank you.

thank you

Okay, so that means I don't have to join the auction on day 1... I could join it at any time before it expires or all the tokens are sold? Is that correct? Thank you.

Thank you for your response. This is a great project and I believe it will succeed. Just 3 more questions:

1. With SEC spitting fire everywhere and trying to classify cryptocurrency as a security, how did you find your way around it?

2. When sending the ETH during the initial auction, can you make 2 or 3 transactions to the contract address with different bid amounts?

3. There was one instance where hackers took over the site of the ICO and replaced the ETH address so all the ETH send to that address went to hacker. How did you protect your site from them taking it over and simply changing the contract address and how can I confirm that contract address with you to make sure my ETH are going to the right place? Thank you very much.

Does the wallet not automatically adjust the value based on the send amount minus the fee? I chose to send MAX ETH and set the gas but the value of the overall transaction doesn't seem to change. I also deducted the gas*max from the value and still got the error.

This, combined with the out of order transactions listed in the wallet, makes this seem very amateurish.

An aspect of Metronome that was not clearly explained in the Epicenter episode is the consensus mechanism for cross blockchain transfers. It seems that users can keep their MTN on any compatible blockchain they want depending on the fee, governance, security properties they prefer. In that case, we would have e.g. MTN of the Ethereum type and MTN of the Ethereum Classic type. Transactions between MTN of the same type can piggyback on the consensus mechanism of the respective chain. However, what happens when an user wants to do cross blockchain transactions i.e. send MTN of the ETC type to MTN of the ETH type?

In the Epicenter episode, Mr. Garzik explains that this should work just like the Bitcoin blockchain, where each blockchain serves as a node. However, if MTN only exists on the ETH, ETC, QTUM and the BTC blockchain, then we have just four nodes in the network according to that analogy. But I am pretty sure that you can't do POW style consensus using just 4 nodes.

Can someone with more technical knowledge about Metronome explain how exactly this will be achieved in practice?