Bounty hunters only hold 2M ICN or only 2% of total available.  The entire market value of bounty hunter ICN is only 2,000,000 * 0.13 = $260,000.  That amount is going to change hands in the first hour of ICN trading.  For all the attention being paid to bounties in the previous pages, they are only a tiny part of ICN trading even if all are sold and none are held long-term.  Bounties were nothing more than a tiny one-time pre-launch advertising expense for ICONOMI that is now in the rear view mirror as we go forward.

Bounties were a VERY EFFECTIVE way to advertise. ICONOMI spent only 2% of their planned tokens to get over 10X of their original desired crowdfunding minimum of $1M.

Finally, Jani and the ICONOMI team working so hard to make sure these advertising bounties actually went to real participants showed the ICONIMI team can be trusted to do the "right thing".  This is HUGE for a crypto fund platform that is going to rely on trust first and foremost.

Another fun fact.  Roughly speaking, 2100 ICO investors contributed less than 1 BTC while 500 of the 3508 investors put in more than 5 BTC.   

Wasn't 5 BTC the cutoff for the "free delivery" ICONOMI Visa Debit card?  Where do we enter our shipping address for those?

Thanks, EXTREMELY interesting data....

Out of 3508 ICO investors, 25% of all available ICN worth $3.10M total is held by 12 people
Out of 3508 ICO investors, 50% of all available ICN worth $6.20M total is held by 68 people
Out of 3508 ICO investors, 75% of all available ICN worth $9.30M total is held by 582 people

Out of 3508 ICO investors, 2926 are splitting only 10% of all available ICN worth $1.25M among themselves.

This looks to me like the majority of the ICN is being held by deep pocket people as a long term investment. 

I predict a relatively small proportion of total ICN is going to be on the exchanges.  A shortage on the exchanges should mean a higher price.

To da moon for ICN!

@Jani, and the rest of the ICONOMI team:

Congratulations on a job well done getting us to the launch pad.  Now, to use a traditional astronaut phrase, "Let's light this candle!"

Hey, can you please do a Google spreadsheet showing the "genesis block" to show how much ICN went into each of the 3508 user accounts?  Distribution statistics are important to see and consider...

Come join the fun at Slack:

https://iconominet.herokuapp.com/

LOL.  The difference between my exact number and your exact number for ICN is 0.00020995-0.00019967= 0.00001028 BTC or 0.006 USD - less than a penny.  You're looking at noise.

As I tell my wife frequently in situations like this, "OK, you're right, I'm wrong...."

As I said before, let's call it an ICO price of 0.0002 BTC per ICN.  

Here's what myetherwallet says about itself:

Security

If one of your first questions is "Why should I trust these people?", that is a good thing. Hopefully the following will help ease your fears.

•We've been up and running since August 2015. If you search for "myetherwallet" on reddit, you can see numerous people who use us with great success.

•We aren't going to take your money or steal your private key(s). There is no malicious code on this site. In fact the "GENERATE WALLET" pages are completely client-side. That means that all the code is executed on ** your computer** and it is never saved and transmitted anywhere.

• Check the URL -- This site is being served through GitHub and you can see the source code here:

https://github.com/kvhnuke/etherwallet/tree/gh-pages to the domains: http://kvhnuke.github.io/etherwallet/ and

https://www.myetherwallet.com. You can verify it's hosted at GitHub by using http://viewdns.info/dnsrecord/?domain=myetherwallet.com

 - last two A record IPs are owned by GitHub for their custom domain hosting.

• For generating wallets, you can download the source code. See #5 above.

• Do a test run and check and see what network activity is happening. The easiest way for you to do this is to right click on the page and click "inspect element". Go to the "Network" tab. Generate a test wallet. You will see there is no network activity. You may see something happening that looks like data:image/gif and data:image/png. Those are the QR codes being generated...on your computer...by your computer. No bytes were transferred.

• Now, to be safe, move over to the "Resources" page. Here you can see all the different elements that make up a website. If you click through Local Storage, Cookies, and Cache, you will see nothing is being stored. Nothing is being saved. Refresh the page and you are back to square one.

• If you do not feel comfortable using this tool, then by all means, do not use it. We created this tool as a helpful way for people to generate wallets and make transactions without needing to dive into command line or run a full node. Again, feel free to reach out if you have concerns and we will respond as quickly as possible. Thanks!

Dude.  Scroll up towards the top of this very page.

PUBLIC SERVICE ANNOUNCEMENT - REPOST FROM PAGE 329 (Thanks to MoveCrypto!)

myetherwallet has just implemented offline generation of token sending transactions, per the request of ICN investors.  

Huge props to myetherwallet for getting this feature ready in time for ICN launch.

Guide for highly-secure, offline storage and transferring of ICN tokens & ETH dividends - no blockchain synchronization required

### Download these things to a flash drive:
- google chrome web browser

- geth
https://github.com/ethereum/go-ethereum/releases

- myetherwallet
https://github.com/kvhnuke/etherwallet

- BIP-39 random passphrase generator
https://github.com/dcpos/bip39

### Transfer flash drive to dedicated offline computer with ONLY a fresh operating installation which never touches internet

### install google chrome on offline computer

### generate random 12 word BIP-39 compliant passphrase

### Run geth from command line, use this command to launch in javascript console mode
geth console

### (geth javascript console information can be found here)
https://github.com/ethereum/go-ethereum/wiki/JavaScript-Console#personalnewaccount

### create new wallet with this command
personal.newAccount()

### enter new password twice - do not forget this password, or your money is gone

### geth outputs address you just generated - copy/paste this address and save it in a .txt file to flash drive - also write it down just as a reference to be able to double-check the address in the .txt file

### to double-check the password is correct, use this command
personal.unlockAccount("address_just_generated_with_quotes_around_it")

### enter your password and hit enter - geth outputs 'true' if password was correct

### navigate to hidden .ethereum folder and create a backup of keyfile - do not lose this keyfile, or your money is gone
usually this folder is in a hidden folder in your home directory (or %APPDATA% on windows)

It is recommended to do a test run using a small amount of a currently available token like DGD or SNGLS before you withdraw all your ICN to your cold storage ETH address

Why this pre-test?  See:

https://www.reddit.com/r/ethereum/comments/48rt6n/using_myetherwalletcom_just_burned_me_for/?st=itop9se1&sh=ebc6b4e2

### now you can send ICN and a little bit of ETH (maybe 0.5 ETH for transaction fees) to the cold storage ETH address you just generated


To send ICN out of cold storage address in the future

### navigate to the folder where you saved the etherwallet-mercury.zip from myetherwallet

### unzip, go to "dist" folder, then drag/drop index.html file into google chrome in order to run myetherwallet on your offline computer

### follow the instructions under the "offline send" section in order to create an offline transaction

- select "custom token" and put the ICN contract address in "address" field.  (The ICN contract address is not yet public, we will know the contract address for sure at launch)

- for private key, select "Keystore File" and select the keyfile you made a backup of in earlier step

### save the signed transaction to a flash drive and transfer to an online computer for broadcasting to the network via myetherwallet.com .  

Be sure to use only the .com domain - scam sites (like at .info) have sprung up.

*****************

Please consider sending a donation to myetherwallet for getting this feature released in time for ICN launch.

Consider using a (Korean) ODROID C2 for ICN storage, only $40 plus accessories - well under $100.  Performance is MUCH better than the similar (British) Raspberry Pi.

http://www.hardkernel.com/main/products/prdt_info.php

North America Distributor:

http://ameridroid.com/products/odroid-c2

Europe Distributor:

http://www.odroid.co.uk/odroid-c2-cat

Such a machine is a very wise investment to store significant amounts of cryptocurrency offline, air-gapped, and away from the internet.  

Prepare two identical units, and store one in your bank safe deposit box with instructions to your heirs.

I agree!  Dump the extra bounty whores overboard and let's sail onward!



(Incidentally, if you aren't familiar with your history, those are so-called breadtrees being dumped overboard.  The mission of the Bounty was to take a shipment of them to a British colony to be grown as a food source.  The trees were getting more fresh water daily than the sailors.  That was a big part of what caused the famous mutiny.)


Agreed.  And starting tomorrow, they're gonna be worth a whole lot more.  Let's talk about THAT.

$10.4M paid for 85M ICN tokens, not 100M.  Market cap is $10.4M / 0.85 = $12.2M, ICN token price is 16972 / 85,000,000 = 0.00019967, call it an ICO price of 0.0002 BTC per ICN.  The ICO money is used for development and operations, it does not pay for the 15M ICN retained by founders as founder reward.  They have to get their money from exchange sales.


And the only thing that motivates us to get out of bed in the morning and go to work, or to have sex that keeps us from going extinct.

I am totally kicking myself right now for not splitting my ICO donations up into multiple accounts.  Come Tuesday, this had all better work.

The (Korean) ODROID C2 is only $40 plus accessories - well under $100.  Performance is MUCH better than the similar (British) Raspberry Pi.

http://www.hardkernel.com/main/products/prdt_info.php

North America Distributor:

http://ameridroid.com/products/odroid-c2

Europe Distributor:

http://www.odroid.co.uk/odroid-c2-cat

Such a machine is a very wise investment to store significant amounts of cryptocurrency offline, air-gapped, and away from the internet.  

Prepare two identical units, and store one in your bank safe deposit box with instructions to your heirs.

Simple would be nice. So would a world with no thieves and hackers that want to steal every ICN I own.

I also recommend using a BIP-39 compliant 12 word passphrase generator.  Use it offline per above along with chrome, geth and myetherwallet.  See:

https://github.com/dcpos/bip39

Thanks for the shout-outs, guys.  I've been trying to catch up here and just now posting - things are starting to really spin up!

I never got an email back from the guys at myetherwallet.  Props for doing this all on their own.  I agree, this is HUGE.  

Also, thanks to you MoveCrypto, for your checklist.  We need to repost this about every other page for the next 48 hours.

I also recommend using a BIP-39 compliant 12 word passphrase generator.  Use it offline.  See:

https://github.com/dcpos/bip39

Some of what I said in my earlier post on myetherwallet is still relevant...

https://bitcointalk.org/index.php?topic=1587736.msg16411425#msg16411425


IMPORTANT : TEST (VERIFY BOTH SEND AND RECEIVE) SMALL AMOUNTS OF ETH AND ANOTHER ERC-20 TOKEN TO A NEW OFFLINE MYETHERWALLET BEFORE USING IT TO RECEIVE LARGE AMOUNTS OF ICN !!!

Off to spend my Sunday setting up offline myetherwallets on my dedicated ODROID C2...

With ICN being a token on the ethereum blockchain with no blockchain of its own, is there a way to list how many starting ICN is in each of the 3502 ICO accounts?  Is there an Ethereum token "blockchain explorer" that can be used to show the ICN "genesis block"?

Let's discuss this a little further.  I am confused because English has two meanings for the word "funds" here.  Your answer is ambiguous and confusing because it is not clear which definition you are using.  One definition of "funds" would be "cash on hand that we got from ICO and our ongoing operations".  The other definition of "funds" would be "other organized trading efforts besides ICNP".   Neither of these is what I would expect to be the source of cash to pay ICNP dividends.

It seems to me that to pay out weekly dividends on ICNP, you have GOT to sell coins traded in ICNP.  The amount you sell of these coins in a week must equal 20% of the profit generated by ICNP in that week.  If you are getting cash to pay for ICNP profits anywhere else, you are shortchanging that area of your operations by draining resources from it.  

Where dividends come from in an accounting sense is at the very core of the ICONOMI project, so clarifying your approach until it is crystal clear to all is not a waste of time.  

Please verify that ICNP dividends will only come from sale of coin assets accumulated by ICNP operations as profits.  Or do you really intend to pay them with cash from other sources?

"Make More Money Than Miners - Invest In ICONOMI / ICNP"

Jani - This slogan is yours to use if you want it - I won't mind.  

Let's examine this good example a little more to help me (and everybody else) understand just how this is gonna work.

Assume next week at launch that ICONOMI puts 7K BTC into ICNP and then gets 4X on the investment during Year One for a total of 28,000BTC as described above.  Subtract out the original 7K investment and you get the 21K profit mentioned above.  So far so good.

Say ICNP makes equal profit every week in Year One.  Then the weekly ICNP profit is 21K / 52 weeks = 403.85 BTC profit per week, right?

20% of the weekly profit is distributed as dividends to all ICN token holders.  So 403.85 BTC * 0.2 = 80.77 BTC would be distributed per week as dividends, right?  

We've currently got 85M ICN tokens spread among roughly 3500 ICO investors so the average stake is 85,000,000/3500 = 24.3K ICN (round number).   Investors paid the ICO price of 0.13 USD per ICN or 0.00021228 BTC per ICN for each of their tokens.  Total ICO costs for an average 24.3K ICN stake is thus $3159 or 5.15 BTC.  This assumes 1 BTC = $613.40.

Each of these average 24.3K ICN stakes would get an equal amount of the weekly profit, or 80.77 / 3500 = 0.023 BTC per week, right?  Worth a weekly 0.023 * 613.40 = $14.10, or an annual $14.10 * 52 = $733.20.

Bottom line: IF ICNP hits the example 4X per year profit, the "average" ICN investor stands to make $733 per year in dividends on his original 5.15 BTC = $3159 ICO investment JUST FROM THE ICNP FUND.  Actual dividends received would be even higher when additional profits are included from other funds and overall ICN operations.

@ ICONOMI, a question - in this example, ICONOMI has to come up with 80.77 BTC = $49.5K (approx.) per week of cash to distribute as dividends.   ICONOMI gets this cash by trading that amount of ICNP coin holdings into ETH and then distributes the ETH - Is this correct?

"No double consonants in company name" would disqualify Lamborghini from my consideration, even if the Germans did buy the company.    

What about Ferrari, I hear you say?  They are double-consonant-car-company-name wanna-bes.  What a white-trash, low-class piece of crap THEIR vehicles are.  Even my high school English teacher drove a yellow 911 back in the day.


Enough talk about free girls and cheap cars.  How many decks will your ICONOMI yacht have?


https://www.burgessyachts.com/en/sale-purchase-category/yachts-for-sale/