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TL;DR : We're pionnering here. Let's be patient and see what happens.
Only just when you go to fiat you can gain profit rise on exchange is only number nothing guarantee you that you will sell your 1m ETH fo 12$ at once, most likely price will drop to 1$  at end of dumping. Agreed. For now. Because cryptos are still volatile AF. Tomorrow maybe FIAT won't be that safe to store value.  My point was more about the fact that most govts and tax services are totally overwhelmed by cryptos. That's why I said that if we get ETH dividends, and withdraw some of it in FIAT cash through an ATM, most IRS wouldn't be able to understand what the hell happened. For now. |
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I can't wait, iconomi will be likely listed on polo. I also invest 10 btc in this project. I am a whale?
why would you be? Just make the basic math - your investment/total funds collected*100 will give you the percentage of shares you have Not bad, but compared to the EUR 100K + we saw on the videos ? You're more like a dolphin. Or maybe a killer whale. Sizewise. English language is so lame. |
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I see this is a big project but why invest here? I am afraid there will be big dump in price.
Anyway i will try with 1 btc ..How much ICONOMI i will get for 1btc?
It depends on the final numbers currently each token is worth around 0.058$ 85 mil may worth of 0.058$ from Crowdsale but don't forget 2 mil ICN from bounties campaign. When ICN open for trading I predict who get ICN for free will dump their coins and market price will below 0.058$ for sure. There are 100 mil tokens issued on whichever USD amount ICO goes too. Therefore, at this time we're at USD 0.04891 / ICN. Just because only 85 mil are shared with investors, doesn't mean the coins in devs' hands aren't worth anything. |
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So ICONOMI gives out "company shares with dividends" and then will set up several funds, probably containing several million $ from non crypto investors?
Without any regulation or licences? I can't imagine that's legal in the EU.
If it would be just a coin it would be easy - but this sounds like a call for disaster.
I am sure you guys have the best intentions and are legit but I think it could be legally a nightmare very very soon.
Not "company shares with dividends". Those are platform shares through an Ethereum smart contract, paying dividends in ETH. Technically, there are no legal rules yet as far as I know. That's why you can read everywhere that cryptos are the effin far west. As for the tax problem of dividends, I guess it depends on the fiscal rules of each country. In France for example, cryptocoins are not yet recognized as -real- assets, taxwise. That's a growing thing govts are gradually going to address, but for now they don't understand sh#t about crypto. For example, if you make x 2 on bitcoin, French law recognizes it as an income only when/if you sell your XBT for FIAT, and cash in those FIAT on your bank account. That's when profit is realized in their eyes. So if I cash in so called "dividends" in ETH, there's no way my govt will know. Let alone worry me with any dividend taxation / stock holder stuff. BTW, if we get those debit cards that allow to withdraw actual FIAT cash with whichever crypto assets we have online, that's indeed a tax evasion dream coming true. Sauce : I called my tax office last year to know if I had to declare anything on my crypto earnings. The outcome was, considering most of it was still in XBT, I was not subject to any capital gain tax. TL;DR : We're pionnering here. Let's be patient and see what happens. |
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He can do whatever he feels like. We'll find him and he'll get exactly zero ICN from bounties for his spammy work. How are you going to do this?he would now create 30 ICONOMI account and link all his Twitter account with each one of them.I hope honest bounty members do not have to pay the price and you differentiate between two Most of his accounts probably fell in the like vs retweet trap already. Also, as mentioned by OP a few posts before, they will ban whichever account seems bot-like, and you'll have 3 days to appeal. So you'll be able to make a complaint if you happen to be banned. I think there's a reason why the team doesn't disclose the details of their bot-catching strategy here on BCT. EVERYONE READS BCT. So it's either you insist, get more details and give the spammers another chance to get away with their -undue - bounties, either you just sit on it and wait for the problem to be solved. Your call, but so far the team is doing pretty good work with this. This tweet was a brilliant idea. I guess you'll just have to wait and trust them on this one. |
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i just agree with this tweet " due to bounties abuse we ask you to like this tweet. do not retweet retweet will ban you. if you are not a bot, this will be easy. " and i'm not disagreed with this tweet " should retweeting few tweets in a row could as spam? i guess so. what else would count as spam? ". and the rules to get bounty is retweet every tweet on iconomi twitter account. and last night i was do that because i want this bounty. why so much new rules here?
This is the rules for twitter bounty to avoid fake twitter account. this is a good solution. IT IS,Nice one!  and my account will be get banned? cos retweet in a row last night? Same here mate i retweet every ICONOMI tweets last night lol but i follow Iconomi since 3weeks from now i don't want to retweet again because i don't want to get banned So you guys don't even READ the tweet before retweeting ? If you act just like bots, you'll probably be considered as such, guys. One tweet take only 1min max to read  Well, from my point of view, "do NOT retweet" takes about half a sec to read... But I might be overstating it.  |
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i just agree with this tweet " due to bounties abuse we ask you to like this tweet. do not retweet retweet will ban you. if you are not a bot, this will be easy. " and i'm not disagreed with this tweet " should retweeting few tweets in a row could as spam? i guess so. what else would count as spam? ". and the rules to get bounty is retweet every tweet on iconomi twitter account. and last night i was do that because i want this bounty. why so much new rules here?
This is the rules for twitter bounty to avoid fake twitter account. this is a good solution. IT IS,Nice one! and my account will be get banned? cos retweet in a row last night? Same here mate i retweet every ICONOMI tweets last night lol but i follow Iconomi since 3weeks from now i don't want to retweet again because i don't want to get banned So you guys don't even READ the tweet before retweeting ? If you act just like bots, you'll probably be considered as such, guys. |
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ICONOMI, Someone asked this question on Reddit. Could you provide an answer to this? I am not based in the US, but wouldn't it be necessary for US citizens to be accredited investors in order to be allowed to invest in this project? ICN is clearly not an app token, it has very obvious characteristics of a security, even promising a dividend. Isn't this what makes listing or offering to accredited investors only necessary in the States? https://www.reddit.com/r/icocrypto/comments/4zuk5h/iconomi_icn/d7a41inICONOMI, I came across another related comment to the above. It's in reference to the Golem token sale, but same rules would apply to any ICO. References: https://en.wikipedia.org/wiki/SEC_v._W._J._Howey_Co http://apps.americanbar.org/buslaw/blt/2005-05-06/forcier.shtmlThe Howie Test: Under the Howey Test, an interest will be classified as a security only if the following three elements are present: *an investment of money has been made, *in a common enterprise and *the investor has the expectation of profits, which profits are expected to arise solely, or substantially, from the efforts of the promoter or third party. So here is what is going on. You can insist all night and all day that your "Tokens" are "just crypto, man, it's unregulated dude" until you are blue in the face. Problem is, according to the Howie Test, if it looks like a duck walks like a duck and quacks like a duck, it is a security, must be registered with the securities and exchange commission, must be sold only to accredited investors worth more than $1 million excluding the value of their home and with 5 years of trailing income of $200,000 per year, and you can only promote the security (like you are doing here) if you are a Registered Rep for a bona fide Registered Broker Dealer. Here's where your token becomes a security "It is important to note that GNT will NOT be used for payments within the Golem network: Its only role is to grant the owner a share in the Golem network’s fee revenue." Oooffff! You SAY it's a token. But according to the Howie test, people have to pay in ETH (which has a dollar value), the token carries no votes and no say in the management (so 2 and 3, a third party will do the work) and you are selling it with the expectation that a profit will be made by the "investor" from the fees and distributed to token holders. No voting rights + dividends = Preferred Share! If the SEC notices, or if you piss off anyone in the slightest, particularly because you are raising well over a million dollars---you could go to jail just for this post! Everyone involved in the management (and your little investing club) is also selling securities, unregistered, without a licence! They need to all STFU until the lawyer tells you how right I am. Crypto exchanges wont be able to sell or carry this, because it is a preferred share, and while they are Fincen licenced, they are not SEC registered broker dealers! It would have to be traded on a stock exchange, and stock exchanges don't do crypto, so you'll have to create paper! You guys really, really need to get someone from the business faculty (this is a school project right?) to corroberate everything I have told you, and call a securities lawyer for advice before selling this like it was fucking Dogecoin. Dogecoin didn't pay dividends and no promises of profits were made---and they didn't use financial terms like "ICO". I STRONGLY suggest you remove this post and any others where your non-licenced ass has been peddling and promoting unregistered securities to unsophisticated investors. This post is enough to put you in jail. If you read ETH's ICO info, you'll note that they are very, very careful not to promise any profit at all. This is where you are fucking up. Call a lawyer. Your welcome. (I am a former LICENCED Stock Broker). Can your legal team respond to this and guarantee you're not putting yourselves, investors, and the ICONOMI platform at risk of litigation? We'll check and address this. Not now. Could also be with a blog post. you try to sound professional, but you somehow sound desperate - you shout too loud to be taken serious. AND if you write about something, at least have the name spelled correctly (as a native american speaker - poor Howie is actually Howey Very interested to hear more discussion on this, bumping this so it doesn't get buried in the bounty-spam spam IMO, the mistake in the name shows that he recalls this Howey rule, so at least, it's not some Wikipedia copy pasta. Sounds legit to me. Now, as he mentions for the ETH example, Ethereum foundation was careful not to promise any profit at all. Well, ICONOMI team didn't either. With the exception of the graph showing a 400% return on a simulated CMF, on the past half year. Every other mention of profit in the whitepapers / ICO page, precisely mentions "they don't promise any, only scam ICOs do". BOOM. There goes the third rule. I didn't know about those investment regulations in the US, though. That might explain the relatively "small" amount of USD versus EUR. |
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Those numbers look gr8, but I can see that investment from Europe is 15x more then from USA (over 1M euros vs 72K $)I know that ICO team is based in europe and that is where the major funds will come, but USA is big and more resources and funds can ve secured from that continent Maybe some USA branch office should be open in near future to address them directly? Indeed, for FIAT. But EUR+USD sums up for about USD 1.2M, which is barely a quarter of the funds so far. Who knows if the crypto raised aren't coming from the US ? This being said, I agree with you if we consider the whole point of the project is about getting FIAT in crypto world. There is something we need to consider. ICOs are unknown thing to the old outside world. I'm pleasantly surprised that we managed to get 1/4 in fiat already. Consider also that this money was earned differently than maybe someone who was holding 10k ETH at the beginning of the year and now his assets are 10x than before (USD speaking). Buying funds is something old economy understand. And many that we spoke to, but didn't invest in ICO are eagerly waiting for funds to open. Well, having invested hard-earned cash, I definitely get your point. Quite surprised about the amount of FIAT too. My objection well adressed. Thank you. |
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Those numbers look gr8, but I can see that investment from Europe is 15x more then from USA (over 1M euros vs 72K $)I know that ICO team is based in europe and that is where the major funds will come, but USA is big and more resources and funds can ve secured from that continent Maybe some USA branch office should be open in near future to address them directly? Indeed, for FIAT. But EUR+USD sums up for about USD 1.2M, which is barely a quarter of the funds so far. Who knows if the crypto raised aren't coming from the US ? This being said, I agree with you if we consider the whole point of the project is about getting FIAT in crypto world. |
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I just finish reading this article https://medium.com/iconominet/iconomi-more-ambitious-goals-and-a-21-000-btc-cap-after-a-successful-ico-start-ccb06efff709#.6oygl1cch ICONOMI team seem to be getting cockier with their initial success, I do like their idea that is why invested in it, but I am surprise they reach 2000BTC goal in less than a week this I credited their marketing team for job well done, the initial success seems to be getting into their head, this is what affected the Slockit them, initially the Slockit team wants to be the Airbus, Uber in the crypto space then that started fantasizing into venture capitalist dream, there is a small margin between idea and fantasy. Most of the things listed in that article above is mere just fantasy when you have more money than you need (the initial capital for the project was set at 2000BTC and now the bar is set so high at 21000BTC) can anybody explained to me why there is a big gap between the high and low Fanatasy) and they need to be remembered that they want to come out for another round of funding, you have a strong idea initially, why try to be many other things (Hard wallet, Founders Debit card) when you can do one thing better. Oi ! I disagree with the Slockit analogy. This thing was indeed out of control, and was merely just a concept coming with the ETH hype at the time. If I remember well, the DAO was valued at something like USD150M when it got hacked, with no real project in the pipe except for the "biggest crowdfunding campaign evar", and the "we could run countries with this sh#t" stuff that we could read everywhere.. With USD 4M we're far from these waters at the moment IMO, and ICN here has an actual project to bring FIAT money investments into cryptos (which was entirely ETH for SlockIt). I also disagree with your understanding of the 21K XBT bar. It's not the new objective. It's an hard cap. They clearly state in the "3." section that they'll close the ICO if/ when they get there. I really like this decision, considering it protects the early investors from overfunding (feel free to compare this argument to the SlockIt case ). Considering the fixed ratio of the coin they're taking, nothing would have prevented them from saying "go ahead and keep on filling my bank account" had they been in the SlockIt mindset. From my understanding, the actual funding of the project jumped from 2K BTC to 10K, which is detailed in the "1." section. I personally really like the fact that they already know where the extra dough is going, and that they give us feedback directly about that. More devs, better marketing for the funds, which can prove quite handy for targeting audiences online when ICO.INDEX goes live for example. For the hard wallet and the card I don't really care, but who knows. Maybe there will be a use for it sooner than we think. Any additional amount is apparently going to fill the ICONOMI.PERFORMANCE fund directly with stakeholders' money. Sounds very appealing to me. |
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When we can start trading ICN token?
Well, there's no post about when the ICN token will start trading but maybe in the end of September or middle of October? Just ask ICONOMI to determined when ICN token will be start trading. Hi there, No way it's going to trade as soon as the end of Sept since the ICO ends on Sept the 29th, and they'll start crediting the ICN 10 days after. I saw a few months after the end of the ICO mentioned somewhere. Probably in the FAQ. |
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Hi everyone !
I've got a question concerning the fiat gateway.
As far as I understand, it's meant to enable companies to pay for blockchain service directly in FIAT currencies instead of Stratis Tokens in order for them to avoid the volability risk of crypto, right ?
What about Stratis tokens, then ? The whitepaper mentions their finite supply, combined with their need to use the services should mechanically make them worth more over time, but if you allow users to pay for service in FIAT currencies, where's the need for these tokens anymore ?
Plus, the consultancy service seems out of the scope too.
You're mentionning that for big corps potential needs, they'll be able to deal directly with the core Stratis team.
Same here, isn't it just taking away the biggest potential Stratis demand, by bypassing it with FIAT ?
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Hi Krushang,
I guess french translation has already been dealt with ?
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