No, the value should be independent. Waves is fuel for the host platform. Incent's value is driven by merchant adoption.

Yep. Do it for a living.


No, it's just practice. There's a saying that being a successful writer is about hard work, luck and talent, in that order. And luck and talent are mostly a function of hard work.

Incent will be a token on Waves blockchain and will have fixed supply.

Are you clicking on the tweet in TVE to action it?
If you've already done that and it's not working, it may be a glitch TVE's end, in which case we'll get them to have a look at it.

What was the problem there?

Social bounty campaign is now live with TVE - we'll be posting more details later today but if you're signed up with The Viral Exchange you can get started already. www.TheViralExchange.com

I vaguely recall Craig Wright was supposed to pull some rabbit out of a hat today. I can't hold my breath much longer, really.

SegWit is a not-particularly-pretty picture for bitcoin.

US economy is not a pretty picture for traditional economy, hence a source of buy pressure for bitcoin.
Neither is the prospect of a Trump presidency.
Or Article 50 being triggered early 2017.
Or China's Politburo changing over later next year.

So I know I want some BTC squirreled away for a rainy and possibly apocalyptic day, but I do wish they'd sort SegWit.

The Incent ICO will be launching in a week. Incent is a rewards-loyalty scheme hosted on the Waves blockchain and will hopefully bring meaningful tx volumes and adoption to Waves.

Please read the Incent ANN at https://bitcointalk.org/index.php?topic=1610052.0 and ask any questions - or incentloyalty.com to read more, join the Slack or register for the ICO. We'll also aim to set up a Slack link between Waves and Incent #General channel.

We're going to be using TVE for our social bounty campaign. We'll have more updates shortly, but for now, take a look at this explainer video and sign up on the site: https://theviralexchange.com/

https://www.youtube.com/watch?v=DgF8p_e3JTk

'I think we're starting a new era in decentralised money': https://medium.com/incent-loyalty-blog/i-think-were-starting-a-new-era-in-decentralised-money-30fdb213d149#.47gqjaiue

Starts 1 October.

For a couple of reasons we're extending the crowdfund to the end of November. This is just a placeholder while we update graphics. This shouldn't materially change anything but enables us to get some ducks lined up while ICO is still ongoing. We'll still start on 1 October, and the tiering of bonuses for early investors will remain the same.

Since this has come up a couple of times and is likely to be a cause of further misunderstandings, I'll paste this article here.
http://bitscan.com/articles/incent-reserve-explainer

Incent reserve: explainer


From the moment the first merchant goes live with Incent, liquidity and maintenance of an orderly market is imperative if the project is to function commercially. As part of our mandate to support market integrity through market-making and to enable merchants to issue and redeem Incent in good order, BitScan will be maintaining a Reserve of bitcoin and Incent. Ultimately, the reason for this is very simple:

Fiat payments from merchants are subject to a lag, whilst cryptocurrency payments need to be settled instantly at the point-of sale.


The Reserve will allow us to 'arbitrage' funds at the point of purchase, sending customers their Incent immediately

Thus BitScan must have the capacity to remit funds immediately to the customer and merchant to avoid the unacceptable delays that would otherwise be involved.

On issuance: When a customer makes a purchase with a credit card and the merchant’s PoS instructs BitScan to send Incent to their account, this needs to happen immediately for the commercial impact of the reward to be maximised; whereas the fiat settlement funds, sent by the merchant after the fact to pay for the Incent issued, take 2-4 days to process. BitScan therefore needs a reserve of Incent to send to the customer as soon as the instruction is received. BitScan also needs a reserve of BTC which is deployed in response to new Incent issuance, to buy the corresponding amount of Incent at market rates. This has the impact of driving demand and rebalancing circulation of Incent. Finally, when cash funds are received to BitScan’s bank they are converted to replenish the Reserve with BTC - and the cycle repeats.

On redemption: When a customer pays a merchant with Incent, BitScan processes both order and transaction, settling with the merchant in cash and subsequently selling the Incent received at market rates to replenish the Reserve. Of note, any redemption for a product or service attracting a discount for Incent triggers a new issuance cycle which ensures that net demand always trumps net supply.

Maintenance of a reserve is therefore critical, as it enables BitScan to acts as a market-maker and assure liquidity, while promoting enduring appreciation of the asset through maintenance of stable circulation. We recognise that such a model is unusual in the cryptocurrency world, where issuance is typically algorithmic and large pre-mines are viewed with scepticism. However, mining new Incent on a pre-set schedule would take no account of variances in demand for the token following product launch. A pre-set schedule that makes no allowances for market conditions risks placing supply pressure on price, with the resultant price volatility undermining our objective of a stable and liquid digital asset whose value appreciates steadily.

Rather than being a liability for Incent, we therefore consider the presence of a reserve and market-maker essential for Incent to have enduring value to consumers, merchants and anyone holding it as a store of value.

In recognition of and in order to reward the additional trust that this facet of our offering represents, profit deriving from market making operations will be shared 50/50 with the Incent holding community, in the form of a dividend distributed on a pro-rata basis, on the first day of every other (even) month.

Reserve tokens, bitcoin and cash will be held in secure, offline accounts, with only an operating balance of crypto held on-exchange as required to perform this critical market-making function.

You need to read the posts above and the article about what the reserve is for. It's not for the devs, it doesn't dilute anyone's share and without it the project can't work.
The reserve is actually an integral part of the payment mechanism. It doesn't get run down or spent over time.

Slack link was down - should be back up again now. https://incentinvites.herokuapp.com/

Apologies, we seem to be having some tech issues :/ Google's new webcast requires a bunch of extra stuff installed - we'll come back to this tomorrow.

Turns out we can post the link in advance: https://youtu.be/XTq05_MiTq8
11am BST for the AMA guys.

Next AMA in 2 hours - will post the link here when it's live.