Right! But only the IOS-Version is "Offchain-ready" for now and it is not rolled out yet but they'll start it more step by step.

It's too early to say ANS will be the next ETH, but what I find fascinating: I've never invested into ETH because my thought was (and still is): It's too complex and overcomplexity is always a risk. And I was kind of right and wrong at the same time, because theDAO showed: yes, things went very wrong, but at the same time it didn't have much impact on the price, so ETH was a good buy for sure. But I'm still not a fan and I still expect a disaster.

ANS - is more on point, most likely (hopefully) better thought out, with a smarter economical design and in best case it will be a better platform for real world use cases, focused on the financial sector.

Conclusion: I won't sell any time soon, but bet on the big move. Not sure it will happen but the chance that this will become a multi-bn-project seems to be there.

Great! Glad to hear that the issue was solved!

No problem! They are investigating your issue and I hope it will be solved soon.

There are two slacks. This is the public one: https://lykkecommunity.herokuapp.com/

You can simply click on the link and register an Account. Also members and support staff are often (not all the time) online and there is also a #support-channel.

Additionally there is also a not-public-slack where I'll post your issue.

I'm sure they are aware because of your mail to support, but I'll post it additionally on the Slack. Are you on IOS or Android?

I believe there is some kind of overload, maybe too much user-activity at once. I just opened the App and it also didn't work first but seems ok now.

Your transaction wasn't processed at all?

Interessanter aber auch ziemlich komplexer Artikel über Marktdynamik, Trading, Algo-Trading etc.:

Lykke: Perfecting the Alpha Engine, Creating Global Opportunity!
https://www.lykke.com/city/blog/lykke_perfecting_the_alpha_engine

Interesting article about market-dynamics, algo-trading and more:

Lykke: Perfecting the Alpha Engine, Creating Global Opportunity!
https://www.lykke.com/city/blog/lykke_perfecting_the_alpha_engine

I absolutely understand. I'm still more an Investor and also invested in other projects. So I know the "Investor-perspective" also that it's often about waiting and being patient, especially if there are delays. What I do for Lykke is only communication, like a bridge between community/interested people and the team. Others have to do the real work and that's also the reason why I try to explain that. For them it's a huge responsibility and most likely also some pressure, especially because the coming releases are big ones.


Nice that you'll meet some Lykke-people!

1) I've already told you that it's your own choice. I don't even try to convince you to use Lykke.

2) Lykke is no coin. While LKK is technically a colored coin it's purpose is ownership (shares of Lykke). Lykke is an exchange and that is the reason for the KYC-process.

3) You started this discussion, not me.

4) Dash may be at least a step forward when it's about anonymity and a better choice than your previous one "NO ID! How about that, I'll stick to Satoshy's bitcoin!". Maybe also take a look at Monero and/or Zcash.

5) I talk straight forward. No double speak to find here.

Yes, but exactly that is happening. And the team is also informed about what user wants, open for suggestions and also in touch with the community.

And in comparison to some other projects with similar goals, Lykke is already practical useful and also user-friendly. There is a lot to improve of course, but I don't know of any similar project that would be ahead.

And one fact always stays the same: Especially because Lykke is about developing real-life-use-cases for the financial market, high quality standards are crucial. And delivering quality still needs real time. We shouldn't forget that "Crypto-time" is highly distorted and more like "dog-years". ;-)

You have all freedom to decide not to use Lykke and I agree that it's most likely not the right platform for you.

But, independently of Lykke, I would suggest to think about all this more realistic and practical and less ideological, also to be able to come close to your high ideals. What I mean is: Total freedom is not for free. There would be a price to pay because humans are not necessarily saints and especially honest people would become victims of those who would mis-use "total freedom", especially when it's about money. That already happens each single day, in small and big (also institutional).

And if you want to be totally free and protect your data, you need to know how to do it, because while Lykke needs to do a KYC-process, there are many other providers that collect your data and know more about you than your closest friends while you are maybe not even aware. If you use Google without VPN - they do psychological profiles. Amazon and all big retailers do the same. Social networks are very interested in all what you express. And if you use a smartphone and maybe even a messenger like WhatsApp (which is Facebook btw) - think about how much and what you give them, maybe even without thinking about it. Fact is: Without hiding your IP you are tracked all over the internet and with each single click you give data away about you.

And if you say: "NO ID! How about that, I'll stick to Satoshy's bitcoin!" - you should know that the blockchain is not anonymous. It can be tracked and I personally have not much doubt that it's already done. If you want to be consequent you shouldn't even use Bitcoin, or you need to do a lot and follow some rules to be anonymous. If you want to use exchanges it becomes complicated then, because there won't be many options, especially if you want to stay totally anon but also to use Fiat. And even Crypto-only-exchanges start with basic KYC-requirements once a User wants to move more money - take a look at Poloniex or Bittrex.

That said: I understand idealism and I'm all for privacy and data protection. But it's also about being realistic and in most of all cases it's also about a look into the mirror. Only a minority is really consequent when it's about self-responsibility and data-protection.

It's not bigger than Bittrex and Polo because that are the Nr. 1 Crypto-exchanges. They are around since years. Lykke is still in the building mode and still only accessible over the App (that will change of course).

I've already written something about the KYC-process in my previous post, but to add this: In comparison to Bittrex and Poloniex (and other Crypto-only-exchanges) the big difference is Fiat. Lykke has much higher goals.

Sorry to hear that! Maybe that's a result of the complicated situation because of different regulatory requirements. That should become much easier in future. US-citizen, for example, are currently totally blocked.

At the same time the KYC-process is needed for a project like Lykke, otherwise it wouldn't be possible to offer Fiat, to do crowdfundings, to go into the payment direction with debit card etc. Technically it's an easy step-by-step-process:

1) Selfie over the app
2) Photo of ID-card
3) Photo of a document to confirm the address

But of course, those who have to do that all need to be carefully. It needs accuracy and high standards. But they give their best to be very customer-friendly.

Forgot that in my previous post: I know that the Prism-release gets a lot of attention and it looks impressive. But it's not like Lykke. If I understand it correctly it's a smart contract as portfolio tracker. Users can lock up ETH and kind of "bet" on prices. It's not a real exchange and there is no real buying and ownership of assets. Also Fiat is not possible.

With other words: It's a nice piece of software and well designed and also an idea with potential. But in Lykke it's much more - about infrastructure, a real exchange and direct ownership, not only Crypto but also forex and even beyond (company shares for example) and regulations to build a real world use case connected into both, the blockchain-space and the established system.

They're working hard on all fronts, the technology and next releases, the market itself, regulations, business. I understand that it may seem quiet out of public perspective since I know that from my own experience whenever I follow projects I'm invested in (still my focus). But a simple fact is that it takes time to develop quality and especially the next big releases (that can be expected soon), Offchain and Ethereum-implementation, are big ones and need to be as perfect as possible. That's the reason why they test it and after testing it they test it more.

What is also important: A lot of detail-work is often not visible at once, time consuming and wouldn't impress the public if announced - but it's really important. No real progress and quality without that.

With other words: I understand that it sometimes may seem as if not much is happening but everybody who is invested and cares about this project can be sure that whenever he goes to bed, Lykke has made progress and is better than 24 hours before. Lykke never stands still and delivery is not an empty promise.

Btw: All indicators show that Lykke gets significant increasing attention now. Number of KYC-processes is on a high, site traffic is, reddit-subscribers and activity, volume is increasing since some time, price is also nearly ATH (which was yesterday if I'm right and still above $0.2) etc.

I don't think that much in fix prices but more in dynamics and price-potential. To make it more tangible:

If one does really good research about a project, in this case Lykke, it becomes possible to write down strength, weaknesses and risks. If I do that with Lykke, the strength-list is really impressive. If we look on the next month and ask what is likely to have positive impact on the price it's in my opinion

1) if there should be significant user-growth it's likely to already have some effect.
2) if there will be "messages", indicators of future potential (sometimes what is called hype-material - more psychological impact).

And if we think about the development status right now it's still base-building and not that much "hype-material", but it't also likely to attract more users: Offchainsettlement, Ethereum-integration will be next and should come soon. And all progress on the regulatory front will also attract more users because the door to Lykke becomes more open.

What I expect to be "hype-material", that it will not only lead to more attention on Lykke but also change the picture of Lykke more into "wow, now I get that Lykke is about much more" will be the web-based-terminal. I don't know when it will come but I expect it to have impact.


If we look at weaknesses:

1) Some say that Lykke doesn't do enough marketing.
2) LKK is only on Lykke, not on other exchanges yet.
3) Development delays



First about marketing: It's true that Lykke is still pretty unknown and under the radar and it's also true that Lykke doesn't do much marketing yet. But: Exactly that is potential what becomes clear if we think about a potential alternative: Imagine that Lykke would spend a lot of money to do big marketing. 1) It would considered as hype. 2) Maybe it wouldn't even have the wanted effect for now because at the current stage it's not that attractive for a majority yet. What I expect and what Lykke is about: An increasing tendency - also regarding marketing. Once the base-building is done and once Lykke becomes fully functional and accessible for more and more people (because of regulatory approvals) and starts to do crowdfundings for other projects, begins to list the significant Cryptos and projects etc. it will have marketing effect even without pushing/hyping it hard.

If LKK would be on other exchanges it would have marketing effect, especially on bigger exchanges like Poloniex or Kraken etc. I don't know if that will come soon. But it's not necessarily bad if LKK is only on Lykke first, simply because it ensures a more stable growth, also because it more attracts Investors instead of "In-and-Out-Traders". The price becomes more reliable and a better reflection how Lykke is seen and valued. At the same time: The potential still stays - not being on other exchanges is the potential to hit other exchanges once ready.

Development delays are not nice for sure but a common reality for complex projects and it needs quality. As long as they deliver quality and improve everything what may not be as perfect as possible, I see no problem.



If we look at risks:

In a lot of projects the teams itself are the major risks because there are many scammers and even more teams that find out that they are overwhelmed and/or run out of funds etc. The team behind Lykke is absolutely reliable. Nobody is perfect but there is no doubt about their honesty and professionalism and abilities - and whenever there may be a lack on whatever front they hire somebody to close a gab.

But: One risk is always the technology itself. Offchain-settlement for example is a hard thing to do, very complex. That's why they are testing and testing and testing. At the same time there are projects out there, like Factom for example, who still had to face problems after going life and after extensive testing for months.

Another risk may be the financial side because Lykke is expensive. Not speaking about price and marketcap but about the goals. Lykke needs manpower and especially regulations are damn expensive. But again, they know what they are doing. Richard Olsen is a man with huge experience and there are many others as well - Sergey Ivliev (won a prize for best Risk Manager) for example but also others.

The number 1-risk in my opinion is security. It would be a huge set-back if something would happen on that front.


And my way of thinking about it all, as a conclusion is:

Risks are risks. If a worst case scenario should realize and it's never possible to totally exclude that (in no project, no Investment at all), it would have impact for sure. At the same time the team behind this won't give up.

Interesting are the weaknesses because I see it all as potential. And the Lykke-strengths are even pure potential in a lot of ways: A very attractive usecase that will become more and more attractive over time what will lead into increasing natural growth (already happens). And over time it will also be possible to make more marketing because even if offchain-settlement is absolutely important, it won't get the attention like web-based-terminal, debit-card, business deals etc. It's simply not such an eye-catcher, unlikely to produce headlines.

In very short words: If no risk-scenario realizes the price of LKK is very likely to increase and maybe even to hype. It's not possible to predict the "when" or "how high", but if we compare Lykke with some projects that are in fact only smart contracts on Ethereum but very high valued: Once people begin to understand that Lykke can do all such things and more, including becoming a prediction market etc., they may rethink what should have a higher value.


This was the try to outline my personal view and of course I'm biased because I work for Lykke. But I work for them because I see what I see, not the other way around. ;-)

No ETA yet, but also because it won't be about the whole USA at once. And it's a really complicated procedure I also don't have deep enough knowledge about.

Some words about how it's done:

1) It's about single states. Some states are easier and will be faster, others are harder.

2) It's about different kinds of licenses

3) It's also about different kinds of possibilities (access to products/client experience).


For the practice that means: One can think of the whole process as a roll-out over time. Citizens of the easier states will get access to Lykke earlier, those in the hardest states will have to wait longer. And there will also be differences about user experience. Some things that will be possible in the EU for example may be blocked first for US-citzen and enabled step-by-step over time.

But Lykke makes good progress and the man who leads it, Michael Klena, has a lot of experience. I believe that first results will realize this summer.

New Lykke streams project, different approach this time (two rounds, second one with guaranteed payment):


Icon set for Lykke products. First stage.

You are invited to design an icon set for Lykke presentations, marketing materials, applications, and internal needs.
 
The contest will be organized in two stages. On the first stage, you will be invited to create five icons. Four winners of the stage 1 will participate in the stage 2, and will get cash prizes as well. On the second stage, you will be invited to create 28 icons, with payment guaranteed. The winner will have $250, and three other participants will get $100 each as a reward
https://streams.lykke.com/Project/ProjectDetails/icon-set-for-lykke-products-first