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Yes, it's on https://etherscan.io/token/ICONOMI and the address to where the tokens have been sent is correct. I won't dump hard. P.S.: Yes, 35,000 ICN... but I won't dump them. Can the tx still be refused because of low gas and if yes, what happens then? I think there is not enough gas cause you sent 52179 and the cumulative gas used is 58179... Contact Kraken Support It's already in confirming mode. Thanks anyway and don't panic. I won't sell. Not that I mind if you sell or dump, just out of curiosity - why would you move them to kraken if you don't want to sell? Lol I was thinking the exact same thing... |
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 Tsunami season is approaching again guys. With release announcement so close, we are almost half way into the third wave. If you are unfamiliar with Elliot wave principle: Wave three is usually the largest and most powerful wave in a trend (although some research suggests that in commodity markets, wave five is the largest). The news is now positive and fundamental analysts start to raise earnings estimates. Prices rise quickly, corrections are short-lived and shallow. Anyone looking to "get in on a pullback" will likely miss the boat. As wave three starts, the news is probably still bearish, and most market players remain negative; but by wave three's midpoint, "the crowd" will often join the new bullish trend. Wave three often extends wave one by a ratio of 1.618:1. +1 0.001 btc will be reached in this coming wave, especially with the big Launch announcement expected any day now. i would use day candles for a classic pattern analysis with emas, support and break-out scenarios to trade. its better for semi-automated trading. the price chart follows the development of the platform and its anticipation, so you can you use Elliott Waves Theory. i would not trust this instrument, it just works if you use it with a lot of intuition as all pattern prediction instruments. take a look into X-Sequentials from Devin Sage, its less 1930es but more complex or a temporary approach like numer.ai so we could hit now the 410 and then go in a channel down and then seeing an approach to break-out up or going down in a bigger channel sidewards. at the moment there is alot of volume, what is good for volatility Exactly, it works because it predicts human behaviour not price movements. Since we are still waiting for launch, market sentiment and emotions play a huge part in the price movements we are seeing. Just like Fib retracement, Elliot principles works well in speculative/volatile markets especially in crypto, because they predict human behaviour. Thanks for the suggestions, I will look into those further! P.s. I have no ICN on Kraken and the minimum I will start moving some is 2018 or until my ICN is $0.5m. Whichever comes first, and then followed the next morning with a resignation letter to my manager...it's good to have dreams right  I have simply been burnt too many times trading coins during the initial moon stage. ETH, XMR and even BTC. It's simply not worth the risk unless you work for goldman sachs lol |
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Tsunami season is approaching again guys. With release announcement so close, we are almost half way into the third wave. If you are unfamiliar with Elliot wave principle: Wave three is usually the largest and most powerful wave in a trend (although some research suggests that in commodity markets, wave five is the largest). The news is now positive and fundamental analysts start to raise earnings estimates. Prices rise quickly, corrections are short-lived and shallow. Anyone looking to "get in on a pullback" will likely miss the boat. As wave three starts, the news is probably still bearish, and most market players remain negative; but by wave three's midpoint, "the crowd" will often join the new bullish trend. Wave three often extends wave one by a ratio of 1.618:1. |
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Poloniex has had 27,500 btc volume ($24 million) trading volume in the last 24 HOURS! Imagine how much trading volume they have in 1 year and how much profit they make from fees! I will be happy with just 10% of that trading volume on OFM in the first year...
Do I hear someone off in the distance asking for a math calculation to be done? Wait just a moment....why, yes....yes I do !!!! So Polo has $24M per day in trading volume. That's roughly 30*24M = $720M in trading volume per month. Let's assume ICONOMI OFM ramps up to capture 10% of the Polo trading traffic per month at some time in 2017. At that point, OFM would be handling 2750 BTC in trade per day for a total of around 30 * 2.4M = $72M in trades per month. Hey, that sounds like a reasonable goal.... Poloniex fees are detailed at https://poloniex.com/fees/. If ICONOMI charges a competitive 0.20% fee, they would then be earning roughly speaking 0.002 * 72M = $145K per month in OFM fees, or around $1.75M per year. As the official owners of the OFM, holders of ICN tokens receive all fees from the OFM platform. Thus in this example 100M ICN tokens would split $1.75M per year, or around 0.0175 USD per ICN token per year. These tokens are currently for sale at Kraken for around 0.3000 USD per ICN token. So ICN TOKENS PURCHASED ON KRAKEN TODAY OFFER A 0.0175 / 0.3000 = 5.8% ANNUAL RETURN ON INVESTMENT JUST FROM OFM FEES FOR EVERY 10% OF POLONIEX TRADE TRAFFIC CAPTURED DURING 2017.
IF OFM EVER GETS AS BIG AS POLO, ICN TOKEN HOLDERS GET 0.175 USD PER YEAR PER ICN TOKEN JUST FROM OFM FEES. THIS WOULD BE A 58% ANNUAL RETURN AT CURRENT KRAKEN ICN PRICES.
BUYING ICN AT KRAKEN IS LIKE BUYING INTO AN IPO OF POLONIEX OWNERSHIP - AND MUCH, MUCH MORE. THESE CALCULATIONS DO NOT INCLUDE ADDITIONAL PROFITS ACCUMULATED BY ICN TOKENS FROM ICNX AND ICNP FUNDS. THESE ADDITIONAL PROFITS MAY BE EVEN BIGGER THAN OFM PROFITS. I AM HODLING.Don't we all like it when Mal does these calculations?  Yup, it was spot on! Thanks for that Mal. Usually company shares are valued based on 6% dividends return. The fact we haven't included ICNX, ICNP and only used conservative figures based on ONE exchange (volume from all exchanges combined in last 24 hours is close to $300m). So even on very conservative calculations price is extremely undervalued. We haven't even started to speculate on how much money will come in from OUTSIDE of crypto  |
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If that sell wall is broken, we may see a nice climb to 0.00100 this weekend.
0.00100 this weekend. 0.00500 after ICONOMI Platform launch. 0.01 after OFM Platform launch. When this 100k floor is coming we are waiting for this but it taking too long time. I'm still holding my tokens even already it's 2x than my actual buy price but I have believe sooner will reach to 100k. I suggest you accumulate right now because price is still cheap. Really? I think it is still expensive, I don't have idea how high iconomi will go, but it is very big market cap now. I don't think it's expensive. The price looks pegged to $.30 regardless of btc movements. Yes, it is higher than ICO but that is a reflection of new investors and potential of platform. When the platform is released, it will go above $1 EASY. It will never be at this price again... Poloniex has had 27,500 btc volume ($24 million) trading volume in the last 24 HOURS! Imagine how much trading volume they have in 1 year and how much profit they make from fees! I will be happy with just 10% of that trading volume on OFM in the first year... lets recap: - Available liquidity and trading volume in crypto: check - Social trading platform success in traditional markets (Etoro, ZuluTrade etc...) : check - Strong community backing: check - Experienced team with credibility and vision: check - first-mover advantage: check Why risk waiting? platform release can be announced any day now and you will miss the train. I remember price was $.10 couple of months ago the week after ICO ending. I wanted to buy more but had to fucking wait 2 days for Kraken to verify... Guess what, 2 days later and price is at $.18  |
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 Mhmmm ... Something changed here, but I can't see what it is Ah, maybe its the 236,010.000 buy wall at .000308  The FOMO is real! Maybe China is joining the party now... Better late than never I suppose! |
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+1 It's okay for $5000  Bitcoin is catching its breath before resuming the climb. If bitcoin reach such a high price, it could mean the death for many ALTcoins for everyone will be swapping them for BTC. In such a situation what would happen to ICN? Dunno what happens my cristal ball lacks lately. But I know exactly what I would do, buy more ICN!Buy more and more or grab it through the trading method. The best time for grab altcoin. Before the platform is getting launch and we need a lot of the ICN stock and its mean to buying more and more. And keep them in our pouch.  Thanks for pointing that out. You're such a nice person!  Can you teach me about that trading method  +1 sounds intriguing... I would like to know the trading method as well! |
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hello guys, Why polo doesnt list icn? Do they see icn opponent?
If you really want to help, then go on polo and click on contact us then submit new coin request. Fill out the form and keep doing it everyday. Also go on troll box and ask when is polo going to add icn, I do it everyday lol. Obviously the owners of polo don't sit in troll box reading all day BUT at least some traders will think huh What's icn?! and they will move to kraken. Kraken is developing really well right now. They've just added xmr and have acquired different companies in 2016 for wallet integration. I think their user interface can be improved to be honest but I'm really used to it now and have no issues using it as my primary trading platform. I think 2017 will be a big year for kraken, a lot of people will migrate to kraken from polo just like I did. I actually think it's very ironic and hilarious. If polo views ICN as an indirect competitor due to OFM platform and that is why they are not adding it. Then they will loose so many traders and so much potential fees for not adding ICN. We have seen time and time again, when new competitors come out and you don't adapt, you WILL get left behind. for example taxi companies (uber), hotels (airbnb), banks (btc and crypto), law enforcement (alpha bay). Once icnx is released, if polo and other exchanges don't add it, BELIEVE met will be the worst mistake and the beginning of their downfall. In either case, we will be fine with or without polo, let's hope they're just waiting for icnx to releas so they add both icn and icnx at the same time! |
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For iconomi to fail, crypto has to fail. Iconomi has landed an amazing position right now. They have the assets and connections as well as the vision and team to ride the boom of Bitcoin and blockchain tech worldwide 2017. They are directly linked to overall profitability hand in hand. Iconomi right now is the best and easiest option for the average joe who knows nothing about Bitcoin or crypto in general to invest directly, easily and efficiently. Of course nobody can predict the future but theoretically if you are betting that Bitcoin and crypto are here to stay, especially the top 10 cryptos pretty much, iconomi will not only overall help them, iconomi can be responsible for majority of fiat flowing into crypto and theoretically be the #1 market cap. The sky really is the limit. However you play a short term or long term trading strategy is a different subject.
Exactly! This is why I'm so excited for this project. I think the thing that gets me excited the most is their vision. I'm a strong believer in crypto. I believe that we will experience an incredible boom just like the Internet. To me, when the Internet came out, it was messy and hard to navigate. Then Google came along and everything changed. I think Iconomi is the Google of the cryptoworld. If they release a quality product (it's reasonable with the resources they have) and lets say we hit 50k users in 2017, this will be a massive game changer. It's all dependent on the quality of the website to attract users. This is why it is only $.30 which is dirt cheap, we are taking all the risk. But like they say, high risk high reward. These two quotes by Jani and Tim explain their vision and why I believe so much in this project: “What we’re seeing is that crowdfunding will be considered an option for capital raise in all sectors, even in industries as sophisticated as financial technology. With this funding, ICONOMI will have the resources to begin the inevitable disruption of finance” "ICONOMI’s success is proving that the idea of ‘uberization’ is best for far more than consumer-level services. There is tremendous demand for a platform like ICONOMI to cut out the middleman, lowering the barrier to entry for investment into cryptocurrencies” |
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When do you think ICN will reach $1 - $5 - $10. How do you figure marketcap to support these prices?
Peaks will be in March in August because those tend to be the months where all alts pump. I think $1-5 will be in march due to: - ICNX release - Dividends being paid out - Major exchanges like Polo, Bittrex, bitfinex etc... (I believe we will see it added to more exchanges when ICNX tokens are launched, they already said NDAs are ongoing with several major exchanges and they were in China a month ago so definitely expect to see it on major exchanges. I think dividends pay outs and the legal implications for those exchanges is still being figured out but sooner or later they will find a loophole. I think $5-10 will be in July/August due to: - OFM platform release should be released by then - much larger dividends being paid every fortnight - No inflation so miners are not putting selling pressure every day with freshly mined coins/tokens - Debit cards providing real life liquidity which enables Iconomi to have it's own small economy which is a bridge between old economy and new economy. People don't realise the importance of this just yet because it will provide TRANSACTIONAL demand and not just speculative demand (kind of like how you can use Bitcoin as a store of value but also use to buy coffee at Starbucks) Few external points that need to be considered: - Marketcap will be extremely inflated and not true representation of the actual value because its reasonable to expect 75% of available supply to be in private wallets and not exchanges. Therefore, $1b marketcap is absolutely realistic. This is very similar to POS because people have an incentive to hold in their wallets. Even Ethereum is moving to POS next year with casper release. People don't realise this yet but POS is definitely the direction the industry is heading towards. - Global economic sentiment for 2017 is quiet negative with really wealthy people in major economies like China and India using crypto to offset the devaluations of their local currencies. Europe is not doing too well either. Lots of uncertainty within global markets will be extremely beneficial for crypto. - First mover advantage and lack of competition will also be a key driver Let's hope the team delivers a high quality product and the rest will take care of itself. |
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Looks like price is slowly recovering... Love how btc movements do not affect ICN price that much. It seems to be more leveraged to US$.
Does anyone know where to find a chart that has ICN/USD pair? I think it would be a lot more relevant when trying to analyse chart patterns...
Well on coinmarketcap theres an option under the graph to toggle usd price. Wow I didn't notice that, thanks! This confirms that although we broke major support levels in btc, it can be very deceiving because btc value is unstable. We actually hit support at $0.22 which used to be the critical resistance before and is now the new floor. This means that recent dump only affected traders who were planning to 'buy the rumor, sell the news', hence all the fudders started crying about losing their lunch allowance calling it a scam lol. I prefer to see organic growth from people who want to adopt ICN and hold their tokens longterm. The delay could be a blessing in disguise because hopefully a lot of those traders can fuck off now and try to pnd something else. Although, I fully expect them to come back posting lambo pics when new launch date is released... next few days we should see a double bottom forming around $.23-$.26 (great entry for those looking to invest) and then a strong rally in January when we get some official news from the team. Exciting times ahead! |
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Looks like price is slowly recovering... Love how btc movements do not affect ICN price that much. It seems to be more leveraged to US$.
Does anyone know where to find a chart that has ICN/USD pair? I think it would be a lot more relevant when trying to analyse chart patterns...
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A week ago, I was the only one raising concerns about security and stability of platform and majority of responses were negative.
I personally think rushing through the release and getting it out as soon as possible is a massive red flag for long term investors. Obviously, devs are really eager and shows that they are passionate about this project. Remember, their long term vision is to be the financial bridge between old economy and crypto. That is why they always post about how to successfully launch an ICO and they are really keen to help startups within crypto. I love their vision and love the fact they made a brave decision to delay the launch in favor for long term investors. They are looking out for us and want to launch the best possible product. My issue is that they could have handled this in a better way and more clear with comms because it's a bit vague. Overall though, I'm happy with what's happened and couldn't give a single fuck about recent price drop because I'm holding till 2018. I hope all the cry babies will fuck off now because it's clear all they care about is dumping their lunch money allowance as soon as it's platform is released.
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Thing is with BTC now going to the moon, people will start taking more notice of digital assets.
If you're intelligent enough to put these two pieces of information together, you'd be selling your Christmas presents, your girlfriend, your wife, your boyfriend..... to get a slice of ICN.
Keep the dog though. Never sell the dog.
Very true, also ICNX will become the new top 10 (11 if you include btc) Altcoin list that people will refer to instead of coinmarketcap. It ignores shitcoins like etc, ripple and litecoin that doesn't deserve to be so high on that list. Notice how they added zcash and within 3 days it doubled from $30 to $60? I can definitely see a scenario in the future where coins that get added to ICNX will get pumped and coins that get removed will get dumped. The irony is....if this becomes a pattern, it removes risk/speculation and just means they can add coin, thousands of copy traders buy, they sell and we get dividends. |
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I found out about ETH back in May when it was $11, I heard about it previously but didn't do anything till then. Back in May, ETH was hyped like crazy. No one could say a single bad thing back then because there was no ETC, No DAO hack etc... There was so many Ethereum fan boys who lash out the minute you even bring up a tiny concern about security, scalability etc...
Also I didn't care that I was buying from people who potentially bought at less than $1 and are making 10x profit, I just cared about LONG TERM potential based on MY situation. The price went to $20, I didn't sell at the peak but made some nice profit before market lost confidence. It will have a year long bearish market next year just like BTC did 2 years ago and then it will moon. There is no doubt in my mind that if the whole DAO and ETC shit didn't happen, ETH would be mooning along with BTC now and $20 would be considered CHEAP.
What does all of this have to do with ICN?
1- many people will dump when it starts to play around in $1-$5 range or $6-$10. But A LOT more people will buy at that time due the fact it has gone up in the first place!! Majority of people only act when a coin is being pumped because its confirmation bias and to them its a 'safer' investment. low risk = low reward
2- ICN devs are masters of their own destiny now. They literally have it all in their hands. They are the only ones who can mess it up from now on because it seems the whole community is on their side. My concern to be honest is they will rush the OFM platform which may lead to high security risk or glitchy website that always looks and feels like it is in beta testing. I was excited at first that OFM will be released sooner than we expect, but now I would much rather if they are more patient and release a platform that is 100% secure and tested.... Otherwise, the first news of any sort of uncertainty and then it is game over and move on to the next hyped up thing. Sure, there will be loyal followers, but the majority of investors (not just in crypto but in general) will dump instantly at the first news of uncertainty. I'm going to ask them about this at next AMA and fucking hope they don't rush this so we don't have a fucking ICN Classic!
+100 Excellent post. Its only problem is that it is not on Reddit. Better to wait another few months and release a stable, secured, and well tested platform than to be ahead of schedule In that regard, it would be good to have a small group of testers that can provide feedback before the release (access to qa or any other pre-pdoduction version) I thought that's what they're doing with rolling it out to a select few before December 28th. I'm referring to OFM platform which was originally scheduled for release in Q3 2017 I think, but now looks like it will be there much sooner. 2016 has been great year for alts in terms of total market cap, however, it is heavily stained with hacks. Steem accounts were hacked within 2 weeks of release, DAO was hacked within weeks due to poor coding, bitfinex was hacked as well, more than $100 million has been stolen from people's accounts this year and they all have one thing in common, the underlying blockchain technology has never been hacked and is at least the same level of security as banks and major corporations (I think it is stronger). However, the accounts that people have on platforms is what is being hacked. I have no concern for ICN tokens or ICNX tokens being hacked because I believe in the underlying technology. Also, majority of assets are stored in multisig cold wallets so the i'm not concerned about that either. I think once people are using OFM to trade and depositing fiat/alts into their accounts, hackers will try to exploit because they will be stored in hot wallets. They say there will be withdrawal limits which definitely helps, but perhaps we should also have accounts being 24/7 monitored for suspicious activities and maybe even have require manual confirmations for each withdrawls. It might make it annoying for people to have to wait, but the more layers of security we have, the more likely it is to deter hackers from wasting their time in the first place. Anyway i'll ask about this in their next AMA and we'll see what they have planned Nope, OFM should release at Q1 2017 from the beginning. Huge executional risk, HIGHLY doubt any team can build a fully tested and secured platform after two months of ICO ending. Would love to be proven wrong though... i was waiting for you, i think you are from the rival platform?.......... Shit you blew my cover dude! I'm undercover spy for Google, but even if we release a copy cat I think we will get rekt... Don't tell my boss |
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I found out about ETH back in May when it was $11, I heard about it previously but didn't do anything till then. Back in May, ETH was hyped like crazy. No one could say a single bad thing back then because there was no ETC, No DAO hack etc... There was so many Ethereum fan boys who lash out the minute you even bring up a tiny concern about security, scalability etc...
Also I didn't care that I was buying from people who potentially bought at less than $1 and are making 10x profit, I just cared about LONG TERM potential based on MY situation. The price went to $20, I didn't sell at the peak but made some nice profit before market lost confidence. It will have a year long bearish market next year just like BTC did 2 years ago and then it will moon. There is no doubt in my mind that if the whole DAO and ETC shit didn't happen, ETH would be mooning along with BTC now and $20 would be considered CHEAP.
What does all of this have to do with ICN?
1- many people will dump when it starts to play around in $1-$5 range or $6-$10. But A LOT more people will buy at that time due the fact it has gone up in the first place!! Majority of people only act when a coin is being pumped because its confirmation bias and to them its a 'safer' investment. low risk = low reward
2- ICN devs are masters of their own destiny now. They literally have it all in their hands. They are the only ones who can mess it up from now on because it seems the whole community is on their side. My concern to be honest is they will rush the OFM platform which may lead to high security risk or glitchy website that always looks and feels like it is in beta testing. I was excited at first that OFM will be released sooner than we expect, but now I would much rather if they are more patient and release a platform that is 100% secure and tested.... Otherwise, the first news of any sort of uncertainty and then it is game over and move on to the next hyped up thing. Sure, there will be loyal followers, but the majority of investors (not just in crypto but in general) will dump instantly at the first news of uncertainty. I'm going to ask them about this at next AMA and fucking hope they don't rush this so we don't have a fucking ICN Classic!
+100 Excellent post. Its only problem is that it is not on Reddit. Better to wait another few months and release a stable, secured, and well tested platform than to be ahead of schedule In that regard, it would be good to have a small group of testers that can provide feedback before the release (access to qa or any other pre-pdoduction version) I thought that's what they're doing with rolling it out to a select few before December 28th. I'm referring to OFM platform which was originally scheduled for release in Q3 2017 I think, but now looks like it will be there much sooner. 2016 has been great year for alts in terms of total market cap, however, it is heavily stained with hacks. Steem accounts were hacked within 2 weeks of release, DAO was hacked within weeks due to poor coding, bitfinex was hacked as well, more than $100 million has been stolen from people's accounts this year and they all have one thing in common, the underlying blockchain technology has never been hacked and is at least the same level of security as banks and major corporations (I think it is stronger). However, the accounts that people have on platforms is what is being hacked. I have no concern for ICN tokens or ICNX tokens being hacked because I believe in the underlying technology. Also, majority of assets are stored in multisig cold wallets so the i'm not concerned about that either. I think once people are using OFM to trade and depositing fiat/alts into their accounts, hackers will try to exploit because they will be stored in hot wallets. They say there will be withdrawal limits which definitely helps, but perhaps we should also have accounts being 24/7 monitored for suspicious activities and maybe even have require manual confirmations for each withdrawls. It might make it annoying for people to have to wait, but the more layers of security we have, the more likely it is to deter hackers from wasting their time in the first place. Anyway i'll ask about this in their next AMA and we'll see what they have planned Nope, OFM should release at Q1 2017 from the beginning. Huge executional risk, HIGHLY doubt any team can build a fully tested and secured platform after two months of ICO ending. Would love to be proven wrong though... They didn't start from scratch, already had working platform Really? I didn't know that, I assumed they started development after Ico ended |
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I found out about ETH back in May when it was $11, I heard about it previously but didn't do anything till then. Back in May, ETH was hyped like crazy. No one could say a single bad thing back then because there was no ETC, No DAO hack etc... There was so many Ethereum fan boys who lash out the minute you even bring up a tiny concern about security, scalability etc...
Also I didn't care that I was buying from people who potentially bought at less than $1 and are making 10x profit, I just cared about LONG TERM potential based on MY situation. The price went to $20, I didn't sell at the peak but made some nice profit before market lost confidence. It will have a year long bearish market next year just like BTC did 2 years ago and then it will moon. There is no doubt in my mind that if the whole DAO and ETC shit didn't happen, ETH would be mooning along with BTC now and $20 would be considered CHEAP.
What does all of this have to do with ICN?
1- many people will dump when it starts to play around in $1-$5 range or $6-$10. But A LOT more people will buy at that time due the fact it has gone up in the first place!! Majority of people only act when a coin is being pumped because its confirmation bias and to them its a 'safer' investment. low risk = low reward
2- ICN devs are masters of their own destiny now. They literally have it all in their hands. They are the only ones who can mess it up from now on because it seems the whole community is on their side. My concern to be honest is they will rush the OFM platform which may lead to high security risk or glitchy website that always looks and feels like it is in beta testing. I was excited at first that OFM will be released sooner than we expect, but now I would much rather if they are more patient and release a platform that is 100% secure and tested.... Otherwise, the first news of any sort of uncertainty and then it is game over and move on to the next hyped up thing. Sure, there will be loyal followers, but the majority of investors (not just in crypto but in general) will dump instantly at the first news of uncertainty. I'm going to ask them about this at next AMA and fucking hope they don't rush this so we don't have a fucking ICN Classic!
+100 Excellent post. Its only problem is that it is not on Reddit. Better to wait another few months and release a stable, secured, and well tested platform than to be ahead of schedule In that regard, it would be good to have a small group of testers that can provide feedback before the release (access to qa or any other pre-pdoduction version) I thought that's what they're doing with rolling it out to a select few before December 28th. I'm referring to OFM platform which was originally scheduled for release in Q3 2017 I think, but now looks like it will be there much sooner. 2016 has been great year for alts in terms of total market cap, however, it is heavily stained with hacks. Steem accounts were hacked within 2 weeks of release, DAO was hacked within weeks due to poor coding, bitfinex was hacked as well, more than $100 million has been stolen from people's accounts this year and they all have one thing in common, the underlying blockchain technology has never been hacked and is at least the same level of security as banks and major corporations (I think it is stronger). However, the accounts that people have on platforms is what is being hacked. I have no concern for ICN tokens or ICNX tokens being hacked because I believe in the underlying technology. Also, majority of assets are stored in multisig cold wallets so the i'm not concerned about that either. I think once people are using OFM to trade and depositing fiat/alts into their accounts, hackers will try to exploit because they will be stored in hot wallets. They say there will be withdrawal limits which definitely helps, but perhaps we should also have accounts being 24/7 monitored for suspicious activities and maybe even have require manual confirmations for each withdrawls. It might make it annoying for people to have to wait, but the more layers of security we have, the more likely it is to deter hackers from wasting their time in the first place. Anyway i'll ask about this in their next AMA and we'll see what they have planned Nope, OFM should release at Q1 2017 from the beginning. Huge executional risk, HIGHLY doubt any team can build a fully tested and secured platform after two months of ICO ending. Would love to be proven wrong though... |
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I found out about ETH back in May when it was $11, I heard about it previously but didn't do anything till then. Back in May, ETH was hyped like crazy. No one could say a single bad thing back then because there was no ETC, No DAO hack etc... There was so many Ethereum fan boys who lash out the minute you even bring up a tiny concern about security, scalability etc...
Also I didn't care that I was buying from people who potentially bought at less than $1 and are making 10x profit, I just cared about LONG TERM potential based on MY situation. The price went to $20, I didn't sell at the peak but made some nice profit before market lost confidence. It will have a year long bearish market next year just like BTC did 2 years ago and then it will moon. There is no doubt in my mind that if the whole DAO and ETC shit didn't happen, ETH would be mooning along with BTC now and $20 would be considered CHEAP.
What does all of this have to do with ICN?
1- many people will dump when it starts to play around in $1-$5 range or $6-$10. But A LOT more people will buy at that time due the fact it has gone up in the first place!! Majority of people only act when a coin is being pumped because its confirmation bias and to them its a 'safer' investment. low risk = low reward
2- ICN devs are masters of their own destiny now. They literally have it all in their hands. They are the only ones who can mess it up from now on because it seems the whole community is on their side. My concern to be honest is they will rush the OFM platform which may lead to high security risk or glitchy website that always looks and feels like it is in beta testing. I was excited at first that OFM will be released sooner than we expect, but now I would much rather if they are more patient and release a platform that is 100% secure and tested.... Otherwise, the first news of any sort of uncertainty and then it is game over and move on to the next hyped up thing. Sure, there will be loyal followers, but the majority of investors (not just in crypto but in general) will dump instantly at the first news of uncertainty. I'm going to ask them about this at next AMA and fucking hope they don't rush this so we don't have a fucking ICN Classic!
+100 Excellent post. Its only problem is that it is not on Reddit. Better to wait another few months and release a stable, secured, and well tested platform than to be ahead of schedule In that regard, it would be good to have a small group of testers that can provide feedback before the release (access to qa or any other pre-pdoduction version) I thought that's what they're doing with rolling it out to a select few before December 28th. I'm referring to OFM platform which was originally scheduled for release in Q3 2017 I think, but now looks like it will be there much sooner. 2016 has been great year for alts in terms of total market cap, however, it is heavily stained with hacks. Steem accounts were hacked within 2 weeks of release, DAO was hacked within weeks due to poor coding, bitfinex was hacked as well, more than $100 million has been stolen from people's accounts this year and they all have one thing in common, the underlying blockchain technology has never been hacked and is at least the same level of security as banks and major corporations (I think it is stronger). However, the accounts that people have on platforms is what is being hacked. I have no concern for ICN tokens or ICNX tokens being hacked because I believe in the underlying technology. Also, majority of assets are stored in multisig cold wallets so the i'm not concerned about that either. I think once people are using OFM to trade and depositing fiat/alts into their accounts, hackers will try to exploit because they will be stored in hot wallets. They say there will be withdrawal limits which definitely helps, but perhaps we should also have accounts being 24/7 monitored for suspicious activities and maybe even have require manual confirmations for each withdrawls. It might make it annoying for people to have to wait, but the more layers of security we have, the more likely it is to deter hackers from wasting their time in the first place. Anyway i'll ask about this in their next AMA and we'll see what they have planned |
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I found out about ETH back in May when it was $11, I heard about it previously but didn't do anything till then. Back in May, ETH was hyped like crazy. No one could say a single bad thing back then because there was no ETC, No DAO hack etc... There was so many Ethereum fan boys who lash out the minute you even bring up a tiny concern about security, scalability etc...
Also I didn't care that I was buying from people who potentially bought at less than $1 and are making 10x profit, I just cared about LONG TERM potential based on MY situation. The price went to $20, I didn't sell at the peak but made some nice profit before market lost confidence. It will have a year long bearish market next year just like BTC did 2 years ago and then it will moon. There is no doubt in my mind that if the whole DAO and ETC shit didn't happen, ETH would be mooning along with BTC now and $20 would be considered CHEAP.
What does all of this have to do with ICN?
1- many people will dump when it starts to play around in $1-$5 range or $6-$10. But A LOT more people will buy at that time due the fact it has gone up in the first place!! Majority of people only act when a coin is being pumped because its confirmation bias and to them its a 'safer' investment. low risk = low reward
2- ICN devs are masters of their own destiny now. They literally have it all in their hands. They are the only ones who can mess it up from now on because it seems the whole community is on their side. My concern to be honest is they will rush the OFM platform which may lead to high security risk or glitchy website that always looks and feels like it is in beta testing. I was excited at first that OFM will be released sooner than we expect, but now I would much rather if they are more patient and release a platform that is 100% secure and tested.... Otherwise, the first news of any sort of uncertainty and then it is game over and move on to the next hyped up thing. Sure, there will be loyal followers, but the majority of investors (not just in crypto but in general) will dump instantly at the first news of uncertainty. I'm going to ask them about this at next AMA and fucking hope they don't rush this so we don't have a fucking ICN Classic!
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I'm curious as to whether anyone is currently using a ledger hardware wallet to store their ICNs? My ledger nano s wallet finally arrived today. The fuckers at my local post office lost it or the delivery cunt stole it. Anyway, they sent a replacement straight away and refunded my shipping cost. Talk about top class customer service...
I will send a few ICN to ETH address and see how it shows it on the app once I've configured the wallet. Also anyone have any tips on where to store the recovery phrase card with the 24 words? I'm thinking of storing it in a safe but I'm fucked if my place burns down or someone breaks in. Storing in more than one location might be a safer option, but where else could be a good place to store?
Be careful about how you store your recovery seed. BurtW had his trezor stored in a safe at his home, and his recovery seed stored at his office. Government broke into both locations and robbed him of his BTC: https://bitcointalk.org/index.php?topic=934268.msg11902959#msg11902959Wow thanks for the heads up! I guess you always think it will never happen to you... Seriously that is so fucked! Hiding it in a place like a safe is probably the worst place now that I think about it. I'm curious as to whether anyone is currently using a ledger hardware wallet to store their ICNs? My ledger nano s wallet finally arrived today. The fuckers at my local post office lost it or the delivery cunt stole it. Anyway, they sent a replacement straight away and refunded my shipping cost. Talk about top class customer service...
I will send a few ICN to ETH address and see how it shows it on the app once I've configured the wallet. Also anyone have any tips on where to store the recovery phrase card with the 24 words? I'm thinking of storing it in a safe but I'm fucked if my place burns down or someone breaks in. Storing in more than one location might be a safer option, but where else could be a good place to store?
I wish I'd have the memory to memorize those 24 words. Depends on the amount of funds you're gonna store on the device. Bank safe is one option, if you trust someone else, it doesn't have to be registered on your name. You can also split the seed into 2 locations. I don't trust anyone else because I'm ALL IN* and will not sell until 2018 or when my ICN is worth at least half a million $$$, I have a feeling the latter will come first Having cold storage will allow me to resist temptation of selling (even only part of my position) too early and getting burnt like most weak hands will. * by all in, I mean the total amount I have invested in crypto including profits from ETH XMR & FCT, and not my entire life saving! |
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