I am trying to get my head around the following: When I buy the BLX token on the ICONOMI platform I can then transfer them to my own MEW. So all good, I control the BLX token. But the actual, underlying coins (BTC, ETH, BCC etc) that BLX then buys on my behalf remain with ICONOMI. Correct so far?
So my question is: If - for whatever reason - there is a problem with ICOMINI (hack, dev run-off, fake news, legal etc) and the platform shuts down, I will not be able to sell my BLX back to them and my entire investment will be lost. Yes, BLX are being traded on an exchange, but that wont help in this case at all, as the BLX token is really only a promise that ICONOMI will buy back your tokens and then give you BTC or ETH for it. And if ICONOMI cannot or will not be able to buy my BLX back, the BLX token is literally worthless.
Is that correct or am I missing something here?
The idea behind fund tokens is just to make them tradeable on exchanges. Securitywise you have to rely on their insured multi-layer cold wallet architecture. Storing fund tokens in your own wallet doesnīt make any sense. So your asumption is correct  That's what I thought/ feared, thanks for clarifying this :-( They were for instance affected by the recent Parity hack - and only saved because a white Hat hacker saved them, else they would have lost 13 million dollar. This goes against basic cryptocurrency 101 to have full control over your own coins and not to entrust a third party... The Iconomi platform had nothing to do with the hack, it was money from the company that was held in a smart contract. Exactly what you would do if the system would be decentralized. You could even argue that if they had not used a decentralized solution (parity) and a centralized cold wallet instead, it would have been way more secure. I understand the "crypto 101" argument, but decentralization isnīt the holy grale of everything especially while the crypto world is in early stages of development and things like locking up your money accidentally is possible.
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I am trying to get my head around the following: When I buy the BLX token on the ICONOMI platform I can then transfer them to my own MEW. So all good, I control the BLX token. But the actual, underlying coins (BTC, ETH, BCC etc) that BLX then buys on my behalf remain with ICONOMI. Correct so far?
So my question is: If - for whatever reason - there is a problem with ICOMINI (hack, dev run-off, fake news, legal etc) and the platform shuts down, I will not be able to sell my BLX back to them and my entire investment will be lost. Yes, BLX are being traded on an exchange, but that wont help in this case at all, as the BLX token is really only a promise that ICONOMI will buy back your tokens and then give you BTC or ETH for it. And if ICONOMI cannot or will not be able to buy my BLX back, the BLX token is literally worthless.
Is that correct or am I missing something here?
The idea behind fund tokens is just to make them tradeable on exchanges. Securitywise you have to rely on their insured multi-layer cold wallet architecture. Storing fund tokens in your own wallet doesnīt make any sense. So your asumption is correct 
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Was posted on their slack regarding Bitcoin Cash The Bitcoin hard fork on August 1 resulted in two distinct digital assets: Bitcoin and Bitcoin Cash. Any address holding Bitcoin at the time of the fork automatically received an equivalent amount of Bitcoin Cash. As of today, all user accounts with Bitcoin in the ICONOMI platform have been credited Bitcoin Cash, reflecting the balance held on August 1. However, ICONOMI will not be supporting Bitcoin Cash for any features of the ICONOMI platform. We therefore recommend withdrawing your Bitcoin Cash as soon as possible. Yeah, but BIONT is asking about the BCH that was promised for ICNX holders at the time. They were meant to receive a proportional amount. Is that still going ahead? Or are they just planning to forget about it and never mention it again? (The Iconomi way to do business) Also, if they aren't supporting BCH for any features of the platform, why is it included in CCP? ... CCP is a 'feature' of the platform. Surely they should sell it for something else. What they do in cases of BCH and OMG is selling those and buying more assets that are included in the BLX from it
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For those who doubt that ICN is a good choice to hold, some good news. https://www.reddit.com/r/ICONOMI/comments/6wcll1/iconomis_bright_future/Announcement of ICN's utility on the Iconomi platform. "ICN tokens will have a usage once the DAA platform is launched - for instance we foresee that creating a DAA will require burning of iCN tokens. More details will be disclosed nearer the time. " July AMA "I think you are referring to our plans for ICN token usage? This will come into play once the DAA platform is launched and more details will be disclosed nearer the time."July AMA Voting rights given to ICN holders by October 2018 "ICN holders will be able to exercise their rights via voting. ICN ownership will eventually entitle you to participate in ICONOMI service operator voting. This means the selection of the actual ICONOMI team running operations - this will be possible after a 24-month moratorium has passed (from our ICO date). More details will be announced on this as we get closer to the end of the 24 month window." Bastards are trying to figure out how to keep ICN afloat... Idiots.. you should have given us all owners of ICN a piece of ICNX. Where is the TRANSPARENCY??? "More details will be disclosed nearer the time" What a bunch of pricks keep all the important info to themselves so they can trade ahead of us like they did with ICNX: I am furious. How should that work in your opinion: "giving us a piece of ICNX"? You know that ICNX(BLX) is people's money only? Such emotions lol, exactly what you need when investing
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You can finally buy ICNX
wink wink
I already have, after I got beta access a little while back  hold on there faggot.... how the fuck did you get beta access? I thought you never took part in the ICO and that Mal Raynolds was the one who bribed you with some ICN.... btw, how is Reynolds? Did he suicided yet?  Yeah, I took part in the ICO. Mal never gave me any ICN... but well remembered  I also wonder where Mal has got to! Mendeleev is with us for quite some time. He just FUDDed in order to play the market a little bit
Uncle, your turn to deny in a well phrased post
You're a silly billy. If that had been my intention, then I believe I failed at it. Never seen the market move on anything I said  The only time it appeared to move on FUD was when the old thread went crazy with those guys talking about Jani being arrested etc. Fun times. 
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For what Iīve heard Iconomi spent shitloads of money on US lawyers to clearify things. That and that fact that still none of the exchanges have reacted with delisting (which may all have good lawyers themselves) makes me believe that the SEC stuff is a non-issue, especially for tokens that were issued and sold prior the SEC report. If itīs an issue in future anyway, there will be SEC compliant exchanges like https://bravenewcoin.com/news/overstock-announces-cryptosecurity-exchange-and-worlds-first-crypto-bond/In my opinion it would be very positive and likely that US people could finally participate Yeah, I'm fairly convinced it's a non-issue too. People are talking about it as if it's a terrible thing that we need to avoid at all costs. It's not something that puts a black mark on ICN (or any other token that might be a security). I think the main issue is that ICOs currently represent a space where a company can potentially sell "securities" worldwide, without the hassle of dealing with the SEC in the US. That doesn't mean the tokens are doomed or anything. Just that future projects need to be careful with regards to the US, or actually fork out the money to register with the SEC (and wait for approval), if they want to enter the US market (which Iconomi already knew, and have prepared for) Iconomi is ready to replace Vanguard 
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As ICONOMI first published their whitepaper they said they will pay dividends in form of ETH to their ICN hodlers, but at a certain point they realized that this will make ICNs a security so they switched to buyback method and Jani said that they will give ICN a utility on their DAMP platform (final product).
This means ICN isn't a security anymore it's a utility token now.
It's not up to us, or Iconomi, whether it's a security or not. Your reasoning is incorrect. ICN is still arguably a security. The fact profits are being used to buy back the token doesn't prevent it from being classed as a security. It's still a method of profit distribution, and ICN holders are still expecting the value of their investment to increase. It is better to stick with the "we don't really know yet" position, than to claim it definitely is or isn't a security at this stage. As Bigsmoke is active with his moon talk and conjecture, close to an important date, you can probably expect most of his ICN to be sitting on Kraken right now, waiting to dump on your heads  For what Iīve heard Iconomi spent shitloads of money on US lawyers to clearify things. That and that fact that still none of the exchanges have reacted with delisting (which may all have good lawyers themselves) makes me believe that the SEC stuff is a non-issue, especially for tokens that were issued and sold prior the SEC report. If itīs an issue in future anyway, there will be SEC compliant exchanges like https://bravenewcoin.com/news/overstock-announces-cryptosecurity-exchange-and-worlds-first-crypto-bond/In my opinion it would be very positive and likely that US people could finally participate
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Newbie here...did I miss the ICO? If so, what exchanges have ICONOMI? Thanks.
Yes, ico has been over for 6 months. Kraken and Liqui are the two biggest exchanges that have ICN. I usually would recommend Kraken, but it is unusable since two days now
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I remember the times i invested some money in this coin and exited when i reach double the profit and that is unfortunate for me, if I only hold my coins until today i have bigger amount of money now in my pocket
Sad story bro
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Hi All,
Thanks for all your posts, been useful to read some of them and enjoyed the tittie pattern.
I invested into ICN today. Like the idea, they likely have some marketing budget ready to deploy once funds go live, polo could pick it up after people tire of this rally and they want to attract some volume and failing all that ICN might actually make a success of it and not have to rely on hype profit! Quite honestly there are not many fairly priced coins out there in my eyes and this one seemed to stand out. Like the lack or correlation with the "alt rally".
What worries is me is the market cap. I guess one can kind of use this to work out the PE ratio? What can they make a year in fees? If they could make 10m a year this would be pretty fairly priced (4.5). Any thoughts on this? Is my thinking off?
Edit last comment: Be interesting to see if it holds its USD value if/when BTC corrects.
Once live they will make more then 10m profit per year. Itīs possible with ICNP alone to do more, depending on how many good ICOīs pop up
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They intend to add 6k beta testers and they only have 270 now.If they invite at these rates,I reckon it would take a decade for me to get access.
Based on the numbers Jani provided in the AMA 6k beta users is not probable. "6k users is the number of active accounts we had during the ICO + those that applied for Beta access(180)" - Not all ICO participants are active - Not all would beta test anyway - Not all would be allowed to test in regard to actual transactions - Overlap in beta access to ICO participants - Multiple ICO accounts per user The list can go on but the point is, if they don't plan to take on more beta access requests then its likely they will never get to 6k and will launch before that or enter something called public beta. I think the team knows about that and might have priced that in
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ICNX as it is now working with beta users will never go public. A alternative is in the working. Just got this message from my friend. Hope we will hear soon from team
But a friend of a friend of mine has heard that it will go public  I have no doubt that the team will release a big statement to clearify, who of our friends is right now
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I don't see why Icn worth it anyway? the buy back is 20% of millions they invested in altcoins, golem etc, with investors capital. They did separate Icn in many, and the core value is split, right? I don't see the point
I donīt get you exactly. We have 3 income streams from ICNP, ICNX and all community funds going into buying and burning ICN daily. If you donīt want to hold that, what coin out there would you like to hold at all? Most of them donīt have any value besides pure speculation
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ICONOMI just said they didn't invest in GNOSIS.
Well, THANK FUCK FOR THAT.
This is the only good news from the team since ages. Good job Jani and co. Btw is this news legit? any source? Source is reddit and slack Not true that this is the only news since ages. They mentioned that they own 12.000 byteballs (and not just 4,827) and it skyrockets like crazy. ICNP went from $4.5 million to $12 million already.
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ICONOMI again showed their unprofessional. After I learned that they invested very little in Golem, I no longer consider their opinion authoritative. I'm more of an expert than they are. Gnosis will be huge.
The project itself yes, the investment is currently just huge in terms of dilution
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I wonder how the platform once released would affect the Icn coin itself. If btc rise, Icn won't maintain the value, but ICNX could, as is within using the whole market. Right?
ICN not maintaining value during a bitcoin raise would mean people selling ICN during bitcoin pumps but as weīll have buybacks daily when the platform is running, its not very wise to sell because of pumps unless you want to risk buying back your ICN at a higher price afterwards. This implies having an amount of buybacks that will have an impact on the market of course. But in general ICNX might be more stable than ICN, especially in the beginning.
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OP updated this morning. Changes to the team listed.
Removed: Primoz Kordez, Fund infrastructure lead Jan Isakovic, Mentoring program lead Daniel Zakrisson, Head of investment evaluation Meta Vrhnjak, Special operations Niko Klansek, Special operations Jaka Mele, Corporate communications Miha Martinjak, development
Added: Zenel Batagelj, Strategy Advisor Egidijus Norkus, Product Owner Oskars Vilitis, Senior Architect Jan Mohoric, Developer Sava Lazin, Developer Klemen Zagar, iOS Developer Paraskevi Karageorgu, Copyright/Customer Support
Team listing is more weighted towards coders/developers after the change
Gregor Kobal (Customer Support) corrected my post in slack: actually, only 3 really left: Niko Klansek, Special operations Jaka Mele, Corporate communications Miha Martinjak, development Out of 7 Removed: Jan Isakovic, Mentoring program lead - now at Cofound.it Daniel Zakrisson, Head of investment evaluation - now at Cofound.it Primoz Kordez, Fund infrastructure lead - still here Meta Vrhnjak, Special operations - still here
And 7 new: Zenel Batagelj, Strategy Advisor Egidijus Norkus, Product Owner Oskars Vilitis, Senior Architect Jan Mohoric, Developer Sava Lazin, Developer Klemen Zagar, iOS Developer Paraskevi Karageorgu, Copyright/Customer Support
I am part of the team. It is a privilege to work at Iconomi. The team is great.
Awesome news!!  Thanks for sharing. Very glad to see that Iconomi decided to add more developers/coders to the team and focus on software development instead of branching out into unrelated businesses (startup mentoring..etc). Iconomi is focusing on its core business and is definitely on the right track!  PS: Team Iconomi, please make an official announcement on Medium also!Why Apple developer, what does this tell us? These news influenced the price apparently, it is 10% up, still much more to go until 64000. Not hard to tell what that means^^ they said it today in slack as well that they are also working on a mobile app 
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By the way, one of the team mentioned that ICN will probably have another use on the platform itself besides being a voting token and will therefore be some kind of usage token as well. But nothing concrete yet.
No I don't have screenshots and I won't search it in slack.
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iOS and Android App confirmed 
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