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While it's great that they found a way to keep working on the project, it leaves a bad taste in my mouth personally because it feels like ultimate capitalism in

While it's great that they found a way to keep working on the project, it leaves a bad taste in my mouth personally because it feels like ultimate capitalism in play even when it comes to protocols like this. Status.im hasn't done much other than raised a huge round of ICO, so they're sitting on all this money they can use to buy out other "competitor" protocols. Sure, they have a prototype beta and I guess beta testers are using it, but they don't even have a working app on the appstore. Their (Status.im) strategy seems to be use their treasure chest of money and gain traction by acquiring other protocols (It may sound like a "partnership" but essentially the whole deal seems to be that these projects that received investment are expected to integrate with Status token) I would have no issue with this approach if they actually HAD launched a product, but like I said, they don't even have a production app. Riot has been around for a while, and they have an actual product. I think it sucks that an organization with more money can just buy out another org with less money. I would have loved to see Riot build their own destiny with their own tokens instead of raising capital from a competing messaging protocol.

robert_foss 9y ago
But has riot.im really been bought? Isn't this just providing the riot.im developers with more time and developmental resources to push forward with?
- t3chguy 9y ago
  It hasn't been bought, Status had contractually selected some features/bugs that they wanted fixed but apart from that they do not control riot.im's roadmap. - Contracted Matrix Dev
pablanopete 9y ago
Hey there! Status is acctually making this investment not in the traditional capacity, but rather allowing New Vector (matrix, riot) to continue their development on their own terms. Status has a very close to working MVP; developing an application completely based off of new protocols and a decentralized environment is no easy task and much R&D still has to be done with Ethereum and the whole ecosystem in general before any of these new systems are production ready; and Status aims to stay true to the ethos of keeping a completely decentralized interface and system while supporting others in the ecosystem that share that same vision. If you sign up for our alpha on status.im you can test out our (already functional) product. The majority of work left to be done is in performance and security audits.
amandine 9y ago
[disclosure: I work on Matrix] There is no acquisition here, nor any expectation to use Status token. The only idea is for both projects to help each other, and if Status can help financially Matrix might help otherwise (e.g. provide a bridge to Whisper, Ethereum’s own real-time communication protocol and as such exposing all of the Matrix ecosystem into Ethereum and vice versa; continue working on Olm/Megolm such that it could be used for E2E encryption in Status etc). As Jarrad says in their blog, we are all trying to provide a decentralised Web and no one knows today how it will look like in the future. By supporting other opensource projects Status is only trying to move the needle and promote open solutions rather than proprietary ones. We at Matrix are very glad that some projects use their ICO money for the greater good, and in this case it will allow us to spend all our time and focus on polishing Riot, getting Matrix out of beta, finalising end-to-end crypto, rather than open yet another battle front by doing an ICO, or getting distracted by raising more funds or doing too much consulting work. Matrix might get to an ICO some day, and/or New Vector might get enough revenues to be sustainable and able to support both Riot and core devs for Matrix. But these are later steps. Our side of the story is here fwiw: https://matrix.org/blog/2018/01/29/status-partners-up-with-new-vector-fueling-decentralised-comms-and-the-matrix-ecosystem/ https://matrix.org/blog/2018/01/29/status-partners-up-with-n...

robert_foss 9y ago

But has riot.im really been bought? Isn't this just providing the riot.im developers with more time and developmental resources to push forward with?

t3chguy 9y ago
It hasn't been bought, Status had contractually selected some features/bugs that they wanted fixed but apart from that they do not control riot.im's roadmap. - Contracted Matrix Dev

pablanopete 9y ago

Hey there! Status is acctually making this investment not in the traditional capacity, but rather allowing New Vector (matrix, riot) to continue their development on their own terms. Status has a very close to working MVP; developing an application completely based off of new protocols and a decentralized environment is no easy task and much R&D still has to be done with Ethereum and the whole ecosystem in general before any of these new systems are production ready; and Status aims to stay true to the ethos of keeping a completely decentralized interface and system while supporting others in the ecosystem that share that same vision. If you sign up for our alpha on status.im you can test out our (already functional) product. The majority of work left to be done is in performance and security audits.

amandine 9y ago

[disclosure: I work on Matrix] There is no acquisition here, nor any expectation to use Status token. The only idea is for both projects to help each other, and if Status can help financially Matrix might help otherwise (e.g. provide a bridge to Whisper, Ethereum’s own real-time communication protocol and as such exposing all of the Matrix ecosystem into Ethereum and vice versa; continue working on Olm/Megolm such that it could be used for E2E encryption in Status etc). As Jarrad says in their blog, we are all trying to provide a decentralised Web and no one knows today how it will look like in the future. By supporting other opensource projects Status is only trying to move the needle and promote open solutions rather than proprietary ones. We at Matrix are very glad that some projects use their ICO money for the greater good, and in this case it will allow us to spend all our time and focus on polishing Riot, getting Matrix out of beta, finalising end-to-end crypto, rather than open yet another battle front by doing an ICO, or getting distracted by raising more funds or doing too much consulting work. Matrix might get to an ICO some day, and/or New Vector might get enough revenues to be sustainable and able to support both Riot and core devs for Matrix. But these are later steps. Our side of the story is here fwiw: https://matrix.org/blog/2018/01/29/status-partners-up-with-new-vector-fueling-decentralised-comms-and-the-matrix-ecosystem/ https://matrix.org/blog/2018/01/29/status-partners-up-with-n...