Hi I'm little a bit late read this awesome post from @iconomi published on medium. Especially, the fund.index and investors debit card idea are worth inclusion. I think the latest vission to achieve 21,000 btc also possible! Thanks! Will they start to give their own Debit card? I want to know about their debit card, please I need more info or a link where the details are given about that. It wil be better for the investors of ICONOMI. We'll be issuing our own branded Debit card. More news is coming soon. We set most terms with the provider already. And the one for ICO founders will also be delivered for free for those invested above certain threshold. Meaning a certain amount? Even if it was in the beggining? Just because someone didn't have big bucks to give but trusted you guys from day 1 early before the hype, you should consider a generous threshold for early investors. We will. No worries. But if card + shipping is gonna cost 30 USD we can't send that for free to someone who invested 20 USD for example. |
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Any idea on which exchange(s) Iconomi will be listed at start?
I know it is not in the hands of Iconomi as exchange do list what they want.
Did the Iconomi team have any contacts with the major exchanges yet?
We can't say anything because of NDAs in place. But in short... the more we raise, the more buzz the more exchanges are happy to list. Business logic. |
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Guess what....
How do we change/update the email address we initially registered during the ICO? Drop us an email to support@iconomi.netWe can change it, but manually. |
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Hi I'm little a bit late read this awesome post from @iconomi published on medium. Especially, the fund.index and investors debit card idea are worth inclusion. I think the latest vission to achieve 21,000 btc also possible! Thanks! Will they start to give their own Debit card? I want to know about their debit card, please I need more info or a link where the details are given about that. It wil be better for the investors of ICONOMI. We'll be issuing our own branded Debit card. More news is coming soon. We set most terms with the provider already. And the one for ICO founders will also be delivered for free for those invested above certain threshold. |
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If that is all about crypto that would be interesting but nowdays we at edge with financial systems ICONOMI can be success story but also epic fail if their company will be connected with failing bank then all people investments will go to air with bank. Most reason for me in crypto is to go out of bank if it possible gold silver BTC so there is possibility that even BTC and all crypto will go up ICOMI will fall with some bank - with good economy i would not afraid but we are at thick ice guys. There is never something like "safe" investment and ICOMI is quite good project and original one of course it looks like ponzi but in ponzi all 1st movers wins for sure rest not really  just for speculation is worth to give it shot . If ICOMI will use good bank it can go 100x easy when banking system will start collapsing and it can be good window of opportunity. I assume out of all the assets there will probably be around 4-6% in fiat. That is people depositing fiat and still waiting to jump into any funds. Therefore if all our partnering banks fail at the same time we don't go down with them. Also one of the reasons why it is great to be in crypto nowdays. |
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ICONOMI;
edited
Devs said that minimal amount of time will be near 6 month... but it was when ico sum =2000 btc Damn; the dividends are the most attractive feature... It would be advantageous to make it permanent. Dividends will be permanent! But for as long as we have money raised during ICO we'll distribute 100% of our profits as dividends to ICN holders. When we sometime in future burn money during raised during ICO we'll finance operations from profits made by funds. The rest of the profits will be distributed to ICN token holders. That means that all ICN token holders will be receiving dividends in 1 months / 1 year / 10 years / 100 years... ICN token will always bring u weekly dividend. |
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This project sounds very promising, I must admit that I think to invest however is any amount accepted, or is there any min. amount that I should invest? I am not that experienced and it will be my first investment in my life, please give me some advices .
From the balance on the website I think the minimum investment is 0.000X (at least this will be shown) @ICONOMI I should learn something new, when I firstly invested I was expected to receive 1150 ICN. Now I realize that I will receive 419, what does this mean, more investors less coins being distributed to the investors right? That means more investors, less tokens, and more value. Yes but people are right. They have a fixed amount of shares. It should've been a percentage for the team, not a fixed amount. Yes the value per token goes up but we get less and less tokens, meaning just our initial investment amount, whether it be 10,000 at a $1 or 1 for $10,000. As the investment amount increases, all it does is slash our market growth potential and put big money into the fixed share amount that the team will receive. The team members and the ones contributing to the sucess of ICONOMI should be motivated with fixed amount of tokens. If each team member receives a fixed amount in let's say USD denominated value, then they receive same amount if they do lousy job or if they have to pull an allnighter to finish some things on time. Guess what happens with state employees that make fixed amount of money regardless of their performance. Besides that. I would like to say it again. We'll publish all addresses of team members and number of tokens for each one of us. And we'll oblidge ourselves not to sell anything before 6 months passes after ICN are out and live. That way, you can be sure team will be motivated to deliver added value, because ICN will be worth more and there won't be any selling before 6 months period. Using a percentage rather than a fixed amount, they are still motivated to do good because more money raised, more money per token for them. Bottom line is they are getting the tokens for free, and us investors are giving that token value. But a fixed token while ours diminish I'm sorry is very rip off. Even if they don't dump for 6 months, even better for them, let the market grow it further....you really need a percentage based share amount. Fixed amount of 15m ICN tokens is exactly the same as if we would define that we get 15% of 100m ICN tokens. And do you really wanna have people running huge operation when they are motivated with nothing? Think of how well Singaporean government model is compared to some shitty governmental ones. Prime minister of Singapore makes ~1.7m USD per year. That was, he is not motivated to be playing any tricks. Believe it or not. This also serves to protect investors. Edit: or look at thedao example. Slock.it didn't took anything for thedao. and then 2 weeks after dao is out they make a security proposal for 1.5m USD. that's just not hygienic. |
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They are using the same model as other recent ICOs that have all raised more money than they expected when they started. Funds for the dev team are not a bad thing imo, it motivates them even more to make the project work, as a big part of their pay is in the actual token that they are trying to build. ICONOMI is looking really good to me, glad I invested some in the first week and now following. I think the cap might be reached in the final week. It indeed motivates the team. Also. Keep in mind that we will publish all the public addresses of team members. Additional to that, team members are all obliged not to move/sell any ICN tokens for the period of at least 6 months after release of ICN tokens. Guess what that means. That we are all motivated for ICN token to be way more valuable in the next 6months than now. And also, you can't expect any dumping from team members either! |
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Hey @iconomi, can I get more explanations about how will the ICO funds be used? According to "the only image" about this on the main website: - 62% ( $2.000.000,00 so far) will be spent for development. Are you going to build a moonbase? - 25% ( $780.000,00 so far) for operations. What is "operations"? - 9% legal and 4% marketing need an explanation as well What will be the base of the fund? Why are you going to spend such incredible amount for the development? How many developers do you have?  Development is not just writing code. In addition to that, is is security as well - very important part. Development of financial products goes into the same category. |
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...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.
One thing better is exactly that. Hard wallet means we can have top security for our customers who would like to keep their assets with their own private keys. And for outside investors easy to use and secure solutions are magic! Founders Debit card. There will be debit cards for others as well, but Founders will be limited edition. To keep ICO participants as special members. But why is card important. Because your assets will be then liquid 24/7. You can go to an ATM on Saturday night and withdraw 200 USD from invested funds or ICN tokens. Effectively this will reduce your assets for 200 USD. But why is this important and why is this possible in our world and not in the old economy? Because only crypto exchanges work and are liquid 24/7. Stock exchanges are open few hours per day Mon-Fri. Forex market is closed during weekends as well. When you swipe your Visa with USD loaded in EUR country on Saturday night, Visa has to wait till Monday morning to exchange your USD into EUR. Just imagine how powerful that is! Like internet which is "open" 24/7. But libraries are not. There is still same goal. But with products, security and legal issues covered this strengtens the product even more and protects investors even better! |
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This project sounds very promising, I must admit that I think to invest however is any amount accepted, or is there any min. amount that I should invest? I am not that experienced and it will be my first investment in my life, please give me some advices .
From the balance on the website I think the minimum investment is 0.000X (at least this will be shown) @ICONOMI I should learn something new, when I firstly invested I was expected to receive 1150 ICN. Now I realize that I will receive 419, what does this mean, more investors less coins being distributed to the investors right? That means more investors, less tokens, and more value. Yes but people are right. They have a fixed amount of shares. It should've been a percentage for the team, not a fixed amount. Yes the value per token goes up but we get less and less tokens, meaning just our initial investment amount, whether it be 10,000 at a $1 or 1 for $10,000. As the investment amount increases, all it does is slash our market growth potential and put big money into the fixed share amount that the team will receive. The team members and the ones contributing to the sucess of ICONOMI should be motivated with fixed amount of tokens. If each team member receives a fixed amount in let's say USD denominated value, then they receive same amount if they do lousy job or if they have to pull an allnighter to finish some things on time. Guess what happens with state employees that make fixed amount of money regardless of their performance. Besides that. I would like to say it again. We'll publish all addresses of team members and number of tokens for each one of us. And we'll oblidge ourselves not to sell anything before 6 months passes after ICN are out and live. That way, you can be sure team will be motivated to deliver added value, because ICN will be worth more and there won't be any selling before 6 months period. |
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- The ICONOMI.INDEX FUND will reflect the development of the credible cryptocurrency market. It will be transparently managed and traded on major exchanges. ICONOMI.INDEX fund will include several thoroughly researched cryptocurrencies, including Bitcoin, Ethereum, Lisk, Steem
You lost me at 'Steem'  Good luck though. [/list] Lol yeah, that's the only thing that worried me from this ICO! Even if I don't currently hold any Lisk, I can see how it could have some potential depending on how the whole dapps and smart contracts develop in the next months. Ethereum we can all agree has Consensys behind so it's a lock. However I can't understand how a "smart" investor or fund manager would buy Steem let alone lock it into SP for 2 years...you are already seeing how that is working out for many who bought at $4. I would've loved to read something like Factom (or even Ripple!) which are actual companies which you can visit and has many deals and employees. Hope it was mostly a placeholder for the "currently hot" project/altcoin. I'm also surprise not to see Factom among the list, Factom is one of the few Altcoins out there that is making real money, they've been able to expand there project into Chinese market successful with the smart city contract and their partnership with infino. I just don't understand why Factom was left out. These are just few examples. Factom will definetelly be in the index as well. It has unique properties for categorisation. Has sufficient market cap and liquidity - important factors for index. hi, sir, why will I invest this ICN fund? I am not absorbed by your choosing crypto ability ,or not only becase of it, I can choose it by myself. I think the best reason why I want to invest the ICN is that you said in whitepaper ICN fund will invest the big project early phase, which will maybe the next Uber, Facebook, or others. That is why I stay here . Would you show more information or plan how will ICN do to ensure ICN found will be able to attend such project phase. I want to invest Zcash, but they refuse the little invester in their early plan ,Whether ICN fund can join the early invest list of Zcash? I can choose it by myself That is exactly why we are here. People outside of community can not choose it them self. It's rocket science for them. And even if they can choose it, it is technically hard to buy, let alone keep it safe in cold wallets. Because in all tokens (except very few) you can only invest using bitcoin. Yes, you can choose it yourself. But with the app tokens on the rise and more and more ICOs coming out it will become increasingly more difficult to do so. We'll have resources for that. And if you plan to toss few BTC into some project, you will not have time and it won't be economically feasible to fly on the other continent to do proper due diligence and get a much better idea if it's worth investing or not. Again. This is where our added value is. Because of that it is worth investing in ICN. You're effectively buying share of a company that will be creating added value products and be selling them to outside investors primarily. You will be receiving a dividend in return from realised profits (for as long as we have ICO money, all of profits will be given as dividends). |
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- The ICONOMI.INDEX FUND will reflect the development of the credible cryptocurrency market. It will be transparently managed and traded on major exchanges. ICONOMI.INDEX fund will include several thoroughly researched cryptocurrencies, including Bitcoin, Ethereum, Lisk, Steem
You lost me at 'Steem' Good luck though. [/list] Lol yeah, that's the only thing that worried me from this ICO! Even if I don't currently hold any Lisk, I can see how it could have some potential depending on how the whole dapps and smart contracts develop in the next months. Ethereum we can all agree has Consensys behind so it's a lock. However I can't understand how a "smart" investor or fund manager would buy Steem let alone lock it into SP for 2 years...you are already seeing how that is working out for many who bought at $4. I would've loved to read something like Factom (or even Ripple!) which are actual companies which you can visit and has many deals and employees. Hope it was mostly a placeholder for the "currently hot" project/altcoin. I'm also surprise not to see Factom among the list, Factom is one of the few Altcoins out there that is making real money, they've been able to expand there project into Chinese market successful with the smart city contract and their partnership with infino. I just don't understand why Factom was left out. These are just few examples. Factom will definetelly be in the index as well. It has unique properties for categorisation. Has sufficient market cap and liquidity - important factors for index. |
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What will drive demand for ICN if the ICO hits 10,000+ BTC? Think about it. The more funding raised during the ICO, the less ICN each investor receives. At that point the only thing giving the ICN "value" will be the reluctance of investors to sell their ICN at a loss. But why will people who didn't participate in the ICO want ICN once it hits exchanges? The dividends. But if ICN hits exchanges valued at, say, $1 or $2 USD a piece (a hypothetical breakeven price for investors) and it requires 5000 ICN to receive $10 worth of eth per week in dividends under the condition ICONOMI is able to generate ~$200k per week in profit... will people really be itching to buy it rather than investing in anything else out there?
Please tell me if I'm looking at this all wrong. It's easy for the ICONOMI team to call for ever greater funding because they have a fixed share percentage of the 100 million ICN. Their share doesn't decrease no matter how much is invested during the ICO. This means in 6 months, when they gain access to their shares, they'd be able to sell beneath ICO investors breakeven price (i.e. at a more reasonable price for people wanting ICN for the dividends) and still make a killing.
I'm not suggesting they would do that, but these are some thoughts bouncing around in my head and I think they're worth talking about.
Great comment. We've spent time discussing same questions you have. This is from our last blog post. The decision for investment of capital raised above 10,000 BTC in the ICONOMI.PERFORMANCE fund needs additional clarification. ICONOMI’s ICO aim is to increase the value of ICO participants’ invested assets, which implies effective distribution of the raised capital. We believe it is in the best interests of current stakeholders to invest the potentially excessive part of the raised assets into the ICONOMI funds. By making this step, the value of ICONOMI is inherently increased, as the initial capital required for fund commitments will already be available, which makes funds operative and importantly, very attractive to future investors. Additional inflow of fresh assets into the ICONOMI funds will be much easier to secure. Please note that the inflow of capital into the funds is one of the most important factors in the fund management business model! |
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Still unable to find iconomi or @iconomi in telegram, can't find it in contacts nor in global search. Also apparently the medium site where the bounties are resting there refuses to connect for me and I wanted to open it since day 1 of this thread   Any how with or with out the bounties I really hope that iconomi to be mind blowingly successful. grammar Try ICONOMI ICO in telegram. |
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- The ICONOMI.INDEX FUND will reflect the development of the credible cryptocurrency market. It will be transparently managed and traded on major exchanges. ICONOMI.INDEX fund will include several thoroughly researched cryptocurrencies, including Bitcoin, Ethereum, Lisk, Steem
You lost me at 'Steem' Good luck though. [/list] Index is index by definition. ICONOMI.performance will not contain Steem. |
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New blog post. More things will be addressed in the following days. https://medium.com/iconominet/iconomi-more-ambitious-goals-and-a-21-000-btc-cap-after-a-successful-ico-start-ccb06efff709#.r0ebqtb8bICONOMI: more ambitious goals and a 21,000 BTC cap after a successful ICO startDuring the first 24 hours of the ICO, ICONOMI raised almost a quarter of its minimum target capital of 2,000 BTC, and surpassed it only 5 days later. With the ICO threshold exceeded, there remains no doubt whether or not the ICONOMI Open Fund Management Platform will be created. The ICO continues steadily — today, on September 2nd, the amount of capital raised surpassed $3 million. Understandably, there are a lot of questions regarding the use of the funds raised through the ICO. First, we have to emphasize once again that 2000 BTC is not the capital target of the ICONOMI ICO, but a threshold — minimum initial capital needed for the development of technical infrastructure, the start of the two ICONOMI funds, and the development of the ICONOMI platform. ICONOMI’s mission is to provide an opportunity for investors looking for high profits, not possible in the old economy. With newly developed financial instruments, ICONOMI will drive new investors and fresh capital into the decentralised economy. In the first few months, ICONOMI will introduce the first two funds into the decentralised economy: ICONOMI.INDEX and ICONOMI.PERFORMANCE fund. ICONOMI is the first fund management platform for the decentralised economy. The ICONOMI’s vision, coupled with the substantial amount of capital raised, will enable us to thoroughly disrupt the financial industry. The amount of capital raised enhances the development of the ICONOMI platform in several key ways and further widens the gap between ICONOMI and potential competitors. Personal hardware devices will be offered for the generation of paper wallets, which will enable a very secure way for storing ICN tokens and all crypto assets supported by ICONOMI (starting with Ether, Lisk and Bitcoin); hiring additional manpower will shorten the time-to-market; due to the pioneering nature of ICONOMI, a portion of the capital raised will be reserved for potential legal & compliance requirements; strengthening of the ICONOMI brand will be possible with enhanced marketing automation and global public relations. The funds allocated for the completion of the project are set to 10,000 BTC. Should the capital raised surpass 10,000 BTC, the excess will be invested in the invitation only actively managed ICONOMI.PERFORMANCE fund. To avoid overfunding we have decided to set the upper limit (cap) for the ICONOMI ICO at 21,000 BTC. When this is achieved, the ICO will be closed. The limit is necessary because of the ICONOMI.PERFORMANCE fund policy and the fact that current investment opportunities are limited. If 21,000 BTC is collected, the assets collected during the ICO will represent 73.3% of the total ICONOMI.PERFORMANCE size — the first batch will be capped at 15,000 BTC. The rest — 4,000 BTC — would be available to invitees. To reiterate — ICN token holders will receive ETH dividends. The concept of dividends is rather an exception in the current state of the new economy. As a gesture of appreciation, all ICO participants will have the option to receive an exclusive, physical “ICONOMI founders club” debit card. The decision for investment of capital raised above 10,000 BTC in the ICONOMI.PERFORMANCE fund needs additional clarification. ICONOMI’s ICO aim is to increase the value of ICO participants’ invested assets, which implies effective distribution of the raised capital. We believe it is in the best interests of current stakeholders to invest the potentially excessive part of the raised assets into the ICONOMI funds. By making this step, the value of ICONOMI is inherently increased, as the initial capital required for fund commitments will already be available, which makes funds operative and importantly, very attractive to future investors. Additional inflow of fresh assets into the ICONOMI funds will be much easier to secure. Please note that the inflow of capital into the funds is one of the most important factors in the fund management business model! Another benefit of moving the potentially excessive part of the raised assets into the funds is a cheaper fund entry for the ICN token holders. As ICONOMI charges fees for its services and ICONOMI is owned by ICN token holders, they are indirectly charging and simultaneously collecting fees on their investment to themselves. This means their fund investment with the assets collected during the ICO is free of charge for ICN token holders. This is the first news announcement related to the success of the ICONOMI ICO. There will be an FAQ update in the following days, which will include answers to questions of a more technical nature and details regarding fund management. |
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BTC price just dropped from 575 to 568... Are ICONOMI team already dumping the BTC collected in this 1st week  Is there a BTC address to verify that all collected BTC is still there?  We don't have access to our funds - we do cooperate with trusted escrow partners for that. We are collecting all crypto assets on collecting addresses and we won't be getting any funds before we release ICN tokens out. Even after we get access to crypto assets we won't be dumping anything to the market. It does not make sense to us or anyone else. You can check our collecting addresses here and you can also see that all the funds are still safely there. BTC: 3KbWWjumBGLBUWYCeidydxe1uET9QyWoEgETH: 0x154Af3E01eC56Bc55fD585622E33E3dfb8a248d8LSK: 6300322192409448238L |
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ICO website is containing deceitful wording regarding claimed security of the setup We employ state-of-the-art security technology for you, with the storage of fiat and digital assets embedded into an Ethereum contract! This is completely false. The only thing that can be embedded in and Ethereum contract is Ethereum based assets such as MKR, REP and DGX. Every other crypto will have to be held in custody in centralized hot and cold wallets managed by we don't know who (no information provided). The whole matter of how funds will be handled is completely ignored in spite of the fact this is probably the most important aspect of this project. Storage of assets: not covered Audit of assets: not covered Change of service provider: not covered Counterparty risk warning: not covered Transfer of assest in case of change of service provider: not covered Who stores the assets of open managed funds: not covered Whether ICN holders get dividends: not covered The nature and calculation of ICN holders dividends (if applicable): not covered The whitepapers are more highlevel sales pitches than whitepapers and explain strictly nothing about how the whole thing is going to work technically. This is really underwhelming. As far as I can tell, there is nothing preventing this thing from becoming TheDAO meets MtGoxthis post is severe and deserves an official response. I agree, that was serious post with really well pointed questions. Some of these concerns were partially answered here: Perhaps not the best wording, but you are right. MKR/REP/DGX also Xaurum since not long ago are the ones that can be in Ethereum contracts.
However, note that even Ethereum based assets that we'll hold won't be stored in a smart contract only. This won't be like a giant multisig with all the private keys online.
It will most likely be 4 out of 6 multisig. With each key stored in vaults at least 50km apart and one key stored on another continent and 3 vaults will have access only when 2 authorised person show up together. All that to prevent various scenarios where funds could be lost/stolen/whatever.
Whitepaper on storage of assets will be published by us and given to the community for discussion. We'll make it "open source" and set an industry best practice / standard. This is what is needed, as I didn't know that Bitfinex had all in a giant hot multisig wallet. And I don't know how Kraken or Poloniex is storing funds.
If you think that it is not enough of an explanation then demand more details. But at this moment I don't think that ICONOMI will give you any specifics. As further security details are not finalized. But I agree, a full transparency in this sector is required. We had enough of flops already. Thank you for quoting my initial response. I agree fully. Valid questions and concerns. I will write full blog post addressing these questions in full. Please give us a few days. |
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