~Snip~
seems I did touch a raw nerve there... Anyone with a iota of common sense will see that this is what is happening. Common sense....something which a lot of people seem to be lacking on this thread. Guess I'll just have to toe the line and instead stick to the party line of " ICONOMI IS THE BEST" or "ICONOMI CAN DO NO WRONG". ~Snip, snoop, and tararam.. Why don't you at least try to conduct a conversation/debate? I addressed your concerns and arguments but you choose to ignore mine and just go personal, which is fine with me btw. It does show that you are just an empty clip. Play the ball, not the man, like my uncle says  |
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They cannot scale.
It's all good with a small sample size (few hundreds)
But throw thousands upon thousands of degenerate crypto traders in the mix, together with the untried and untested algorithms to try and adapt with
the crazy pumps along with the occasional black swan event and you have the reason why there are so many delays and why ICONOMI is just a
fantasy.
They started with good intentions but as time's going by, they are starting to realise that they might have bitten off more than they can chew.
At the very best, their platform will only be ready after a good few years.
And if that platform gets launched in the next few months, then expect it to either get hacked or for ICONOMI to get REKT.
Please tell us more. We all want to hear prophecies from anonymous newbie account with proven record and experience in algorithm development, data science, statistics, and of course the inevitable multisig cold storage hacking. How do you think Visa started to operate? Or any other big service? They all start small and scale up. Name one company that did that in their first year of existence. so you are agreeing that the platform will take quite possibly a few years to scale. Also the comparison to Visa just cracks me up. ICONOMI is no VISA, trust me. VISA actually care about PR. They don't entrust their brand reputation to some Israeli Shill who's not even on their pay roll. Also, trying to reason with you is like trying to have a sane debate with members of the Westboro Baptist church. As for my track record, it would make your eyes water, my boy... but I am not one to boast.  I am arguing that you cannot possibly know if it is good for few thousands users only and that it cannot scale. You made it sound like a proven fact, without backing your claim with any relevant information. How did you come to the conclusion that scaling is impossible/will take at least couple of years? Based on previous similar projects, based on your relevant experience in that field? Please, let us know. What you're saying is that no one can build a crypto fund and all similar projects that are running now, or will popup in the future are doomed. The same goes for any other important part of such a fin-tech platform, such as fiat gateway. There are things that take time and it will take time whether you are Iconomi or someone else. "Visa actually care about PR" - not sure what PR they did in their first 6 months of existence before their product was released. Perhaps you can enlighten us in that field as well? Seems like you are not only blockchain expert, but also a data scientist, an IT architect or a senior developer at the very least, a security expert, and a PR guru. As for your other part of the trolling - this forum is not "brand reputation" even though you may want others to think that. And country of origin is so not relevant to crypto, btw. At least I have the balls not to hide behind newbie accounts that somehow are aware of information posted long time before the account was created, which was today. Let me guess - you were following this thread for a long time, but decided to post only today because you are concern about the project, the team not being transparent and of course about communications. |
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They cannot scale.
It's all good with a small sample size (few hundreds)
But throw thousands upon thousands of degenerate crypto traders in the mix, together with the untried and untested algorithms to try and adapt with
the crazy pumps along with the occasional black swan event and you have the reason why there are so many delays and why ICONOMI is just a
fantasy.
They started with good intentions but as time's going by, they are starting to realise that they might have bitten off more than they can chew.
At the very best, their platform will only be ready after a good few years.
And if that platform gets launched in the next few months, then expect it to either get hacked or for ICONOMI to get REKT.
Please tell us more. We all want to hear prophecies from anonymous newbie account with proven record and experience in algorithm development, data science, statistics, and of course the inevitable multisig cold storage hacking. How do you think Visa started to operate? Or any other big service? They all start small and scale up. Name one company that did that in their first year of existence. |
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Also, to whoever is deleting my posts.....LOL
The censoring is getting little out of control here. My post got deleted too. This isn't North Korea people. LMAO! How dumb is this mod? (Not sure if Jani or Daparski) Edit: Confirmed Daparksi the halfwit. Mate, you're making Iconomi look bad by deleting these posts! You are deliberately harming their image! I have copies of the posts you've deleted. All I have to do is post them on /r/ethtrader, and your image is trashed! Is that what you want?! Holy fuck! Do whatever you want. Couldn't care less about what you do or what some day traders on ethtrader think about me. You are here just to FUD, so don't expect much. The fact that you write few none-fud posts from time to time doesn't change it |
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The censoring is getting little out of control here. My post got deleted too. This isn't North Korea people.
Stop posting FUD, BS and irrelevant info and your posts won't be deleted. Unless you are a certified troll |
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What happens if thousands of people want to sell their ICNX and take their profits.
Where will that liquidity come from?
Can someone explain to me how it works please.
Thankyou
When you buy/sell ICNX the platform buys/sells the underlying tokens from exchanges. Everything else is a back-end logic, statistics, and monitoring. This is one of the reasons the beta stage is more than few weeks long For now there is a 1.5 BTC daily limit. If someone just sell worth 1.5 btc every day, would he be flagged result to freeze his account? 1.5 btc limit isn't a s liquid as it is. Unlike having it as ICN where you can pick a buy order as one single transaction to get out. Why would that account be frozen? ICN is traded on exchanges, and ICNX is bought/sold on the platform at the current market price of the underlying assets. There are no book orders on Iconomi platform, so you cannot set a buy/sell order at certain price. |
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What happens if thousands of people want to sell their ICNX and take their profits.
Where will that liquidity come from?
Can someone explain to me how it works please.
Thankyou
When you buy/sell ICNX the platform buys/sells the underlying tokens from exchanges. Everything else is a back-end logic, statistics, and monitoring. This is one of the reasons the beta stage is more than few weeks long For now there is a 1.5 BTC daily limit. so it means that the platform must have a load of money to be able to cope with what would be arguably very high demand. Will 30-40 Million USD or whatever they have now even cut it? Not exactly. If you want to buy ICNX, you first need to deposit BTC or ETH. ICNX is like one of the services that the platform offers, not something you buy with the platform's money nope. am talking about the situation where you could potentially have thousands upon thousands of people wanting to cash out their ICNX profits. Say you buy ICNX @ 0.2 USD and then it reaches $0.5 and you have hordes of BTC hungry customers who want to sell their ICNX to take their $0.3 profits. Will the platform have enough liquidity to support this hypothetical situation? Am asking because it seems that ICNX been making mad gains and as such one can expect it to be extremely popular. Will the platform have enough liquidity to support this hypothetical situation? Will the exchanges provide enough liquidity is the correct question. What happens if thousand of people decide to sell their ETH in the same day? I believe the limits are not yet finalized. You need to have more statistics in order to build a better algorithm. Also, if you have a daily limit of 1.5 BTC, not everybody will enter at the same price. So assuming you have a target investment in ICNX of 20 BTC, you will close your buy order over a bit more than a week. Same goes when you want to sell. |
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What happens if thousands of people want to sell their ICNX and take their profits.
Where will that liquidity come from?
Can someone explain to me how it works please.
Thankyou
When you buy/sell ICNX the platform buys/sells the underlying tokens from exchanges. Everything else is a back-end logic, statistics, and monitoring. This is one of the reasons the beta stage is more than few weeks long For now there is a 1.5 BTC daily limit. so it means that the platform must have a load of money to be able to cope with what would be arguably very high demand. Will 30-40 Million USD or whatever they have now even cut it? Not exactly. If you want to buy ICNX, you first need to deposit BTC or ETH. ICNX is like one of the services that the platform offers, not something you buy with the platform's money |
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What happens if thousands of people want to sell their ICNX and take their profits.
Where will that liquidity come from?
Can someone explain to me how it works please.
Thankyou
When you buy/sell ICNX the platform buys/sells the underlying tokens from exchanges. Everything else is a back-end logic, statistics, and monitoring. This is one of the reasons the beta stage is more than few weeks long For now there is a 1.5 BTC daily limit. |
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The ICNX just rose to $.383. These returns are insane for a fund aiming to be about stable growth.
 That's why we like crypto Is there wallets for iconomi please...can you post links if so...Regards You can use mist, mew or HW wallet like nano or trezor |
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Thanks
ICNP value is something, but the buy back wasn't even 1% of that value. I guess because of smaller percentage reserved for buyback.
Buybacks from ICNP are from realized profits only, meaning ICNP has to first invest in an ICO and sell some or all the tokens from that ICO. Until now less than 1% of ICNP funds were used and only 30% of the investments were realized |
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Daparski, have you ever been on another coin thread??? I mean it - it appears you know nothing about how other coins work or communicate... Above you attempt to answer a question about ICN by cut & pasting information about ICNX & ICNP...
I first heard about BTC when it was ~ 10$, and I am following the crypto space for few years. I invested in some, but was never active here on or any other forums. With ICN I decided to be more actively engaged. I know a thing or two about btc, alts, people, and how things work in the real world. Whether it is ICN or any other "coin" is irrelevant - all of them involve people, skills, idea/potential market, execution, timing, and funding. I listed the key factors based on their importance - and they are the same for every project out there. |
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Why should they inform before the buy back starts?
If they don't give dates of buy backs, they would be able to burn more ICN. And only inform after the burn has happened. This will prevent sudden price rise and fall.
They informed that the profits distribution is changed from dividends to buybacks/burn. The don't disclose dates of buying. There will be a report about the buybacks every quarter - after buybacks for that period had completed |
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Thanks for letting know. I still try to understand the concept. Trying to find investment opportunity. Is here any kind of masternode?
ICN is an ETH token. start here https://iconomi.net/ and here https://medium.com/iconominetSome general info: What Is ICONOMI?ICONOMI is the missing link between the traditional and the rapidly growing blockchain economy. New and unique technical instruments allow anyone from beginners to blockchain experts to engage in the blockchain sphere What is ICNX? (currently in beta) Iconomi.index (ICNX) is Iconomi flagship Digital Asset Array. ICNX makes it easy to buy into the growing blockchain industry without the hustle to pick the winners yourself or to maintain your own portfolio. You benefit from having a diverse investment and spread risk. The underlying assets currently included in the index represent 92% of the blockchain economy. ICNX has 3% yearly fee and 0.1% entry/exit fee What is ICNP?ICONOMI.Performance (ICNP) is an actively managed Digital Asset Array with a high performance target that invests in ICOs. It is lead by a team of experts conducting thorough research and due diligence backed by Deloitte and CoFound.it. ICNP currently has investments in Golem, ByteBall and Santiment. 20% of ICNP realized profits will be distributed in a form of buy back/burn. More details here - https://medium.com/iconominet/iconomi-introduces-repayment-programme-54bfa449d458What is DAMP? (coming later this year) ICONOMI Digital Assets Management Platform (DAMP) allows you to create and manage your own digital arrays. Try out your own management strategy and compete with other DAA managers or invest in other's. Good performance will build your reputation and attract investment from others - you will earn a share of the proceeds. What are the 2 ICONOMI managed Digital Asset Arrays (DAA)?There are two ICONOMI managed Digital Asset Arrays™ (DAA): ICONOMI Index (ICNX) and ICONOMI Performance (ICNP). We are currently building, testing, and refining our Digital Assets Management Platform (DAMP) which will allow anyone to create and manage their own funds. Iconomi ICO DetailsDuring an Initial Coin Offering (ICO) that started August 25, 2016 at 08.00 UTC and ended September 29, 2016 20.00 UTC, the Slovenian-based company raised $10,576,227 from nearly 3,400 investors worldwide in the 11th largest crowdsale in history for any category, and third place as the largest FinTech crowdsale behind The DAO and Ethereum. Investors received their ICN tokens on October 9, 2016. The ICO was for 100 million ICN tokens. There is no inflation planned for these tokens. 85 million (85%) of these were distributed to the ICO participants based on their contribution, along with a bonus for early investors. The bonus structure was – • 15% in the first week • 10% in the second week • 5% in the third week There was no bonus after the end of the third week. Of the remaining 15 million, 2 million (2%) was reserved for advisers, 8 million (8%) for the team, 3 million (3%) for future team, and 2 million (2%) for bounties. Bounties consisted of Social media bounties (Newsletter, Twitter and Facebook), Bitcointalk bounties (Signature and Translation), and Marketing bounties (External blog posts). Because the ICO raised over 10,000 BTC, the excess funds were used on behalf of the ICO participants to seed the ICONOMI.PERFORMANCE digital array. Therefore, ICNP started with an initial asset under management (AUM) of 4,517,835 USD worth, consists of the following: • 2,987.076 BTC • 86,220.320 ETH • 1,729,538.793 LSK • 53,433.21 USD • 1,080,517.79 EUR Today’s ICNP net worth is 11.2M usd |
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But you know better than them how long this should be taking? Or do you want them to release and hype an unfinished product? If you're such an expert why don't you do it yourself?
For an investment of $10,000,000? That probably is closer to $30,000,000 now since they haven't spent any of that in investing? It should take them a month tops. I'd do it myself if I could, for $10,000,000,hell, I'd have this token sitting at top five right now. We got to teach the team the American way of making it. What a load of shit. Do you even hear yourself speak? If it's so easy why haven't you done it, or anybody else? It's a free market afterall. Tell you one thing though, for $30,000,000. Me or somebody else would be here every day updating everyone about what's going on. And that's why you are not the one with the 30M. You keep showing how little you know about real life operations. Keep crying about missing pumps and let the adults do the real work |
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My apologies Daparski
All good |
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I sold a lot of stratis to participate in ICO Iconomi because I liked the project more, I hope I have not been wrong, so are the bets ... I hope the Iconomi team is professional, ethical, fair, loyal and humble ...
Please don't quote the trolls and avoid that language (cursing, the F word, etc) thanks |
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I suppose if there are more than 100 people with access to the platform that can buy ICNX the price will be rising and that is not fair, I think that all members are entitled to the same opportunities ...  Price of ICNX is determined by the price of the underlying assets. Besides, platform is in beta. Beta access list was open for everybody back in December, not just to ICO participants Can you enter the platform these days? Yes, I have beta access. there were 144 beta testers few weeks ago |
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I suppose if there are more than 100 people with access to the platform that can buy ICNX the price will be rising and that is not fair, I think that all members are entitled to the same opportunities ... Price of ICNX is determined by the price of the underlying assets. Besides, platform is in beta. Beta access list was open for everybody back in December, not just to ICO participants |
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1900 btc being shuffled between their wifes personal addresses means they treat this money as their own, belonging to them so its no brainer that they would prefer the community to not know why such fat chunk of money is being moved and who moves it. When things start looking like this it's the first sign that there's something in the works that acts as a catalyst for the downfall.
19000 bTC shuffled between their wifes? So you are the new troll in town? |
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