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You two fudders (especially mchammer) have been fudding the Blocknet all week.
Kindly leave this thread. You have no place here and your points have been well discussed (and discarded) already.
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Will you be able to exchange NHZ for BlockNet tokens? I thought this was going to be possible but I don't see the pairing on Coingateway.
Will you be able to exchange NHZ for BlockNet on Coingateway? Or will this pairing occur on Poloniex? This is important to know for some of us that are holders of NHZ. Thanks for your time. Poloniex only. This – and several other facets of the ITO – are about to be released. |
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Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency? We are doing it for free as we see huge potential in this awesome project and great long term investment We will be buying BlockNet shares like everyone else None of BTC ITO goes to our pockets Cheers This is true for me too. I work for XCurrency and am not paid by the Blocknet. HAHA! promoting a coin u want to buy in -> highering your own buy price per token + more dumping competition if you are so convinced ... why the hell harm yourself why Don't concern yourself with our motivation if you're not including in your assessment how our actions benefit the Blocknet (and, thus, all participating coins and their communities). and who is "the blocknet" , whos in charge. was that ever answered?
We're about to release information on this actually. |
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Not Fair at all for all the partecipating Coins and Investors to announce another coin in the block net whre you can get 10% off just less than 24 Hours before the IPO ARE you Guys NUTS??
Arlyn I'm speechless now.
Nope. We are not nuts. |
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And... XCash are now part of the Blocknet!
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And... XCash are now part of the Blocknet!
woooooooooooooooooooooooooooo Who are they? copy cat of XC??? lol Hope the focus will be on making Xbridge wallets of BTC LTC PPC NMC Etc soon. Check out their tech. It'll be pretty useful to the Blocknet. |
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And... XCash are now part of the Blocknet!
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Arlyn, perhaps one of the simplest ways of doing the exchange rate algorithm and one which would probably keep all coin holders happy might be to simply use the rate based upon the highest Currency:Bitcoin ratio it has had since the ITO announcement up to the actual ITO date, and keep it consistent for the period. This seems to benefit everyone, my guess is you will end up with more coins overall also.
Interesting suggestion. Thanks. :-) When will these finer details on ITO process be published? ITO is less than 24 hours away... I would think this is important information for investors as they consider whether or not to buy. Very soon. |
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Arlyn, perhaps one of the simplest ways of doing the exchange rate algorithm and one which would probably keep all coin holders happy might be to simply use the rate based upon the highest Currency:Bitcoin ratio it has had since the ITO announcement up to the actual ITO date, and keep it consistent for the period. This seems to benefit everyone, my guess is you will end up with more coins overall also.
Interesting suggestion. Thanks. :-) |
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This argument is getting a bit technical, but this is what I said: No, the company is still doing its 100% IPO. The underwriters essentially short sell on top of the 100% if there is huge demand. And when they buy back, they usually don't put up "walls" at the IPO price, they just buy back cheaper, otherwise they don't make money and have no incentive to do this. The greenshoe option is exercised by the underwriter to protect him from loss if the price actually rises.
Thanks - and my apologies. I became disorientated. Walls of FUD can become bewildering. ;-) |
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Hmm... bit of a ridiculous argument there.
Revelation and qawzxs, I hope you don't mind if preserve only the copy of your argument in WillowRosenberg's post, and delete all the previous comments.
This way, anyone can read your exchange, but it won't take up so much of the thread.
Edit: deleted WillowRosenberg's post by mistake. Sorry.
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Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?
Dear Revelation, These folks are here answering the questions folks are asking about and is very much appreciated. Otherwise all we have are folks rambling on about things that don't really matter with an agenda I fail to understand. This Blocknet is beneficial to the entire alt community, not just a few of the coins already chartered or people that have spent countless hours putting this together. We need answers and we are getting them from the proper channels. They are selective in responding to the questions. Anything regarding minimum amount necessary for the project, buy wall after the ITO etc. are being ignored. Coca-Cola type PR. We've *not* been selective. I've stated multiple times that we'll be releasing this information. It's coming out a little later today. In the meantime, no need for those emotively loaded phrases. |
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Anyone else undecided on whether to buy into the ITO or not. If I hadn't lost money & buying power on XC it would have been an easy decision. XC has retracted so much and has likely bottomed out for now, it might be worth hanging on as it retraces back. On the other hand the ITO could easily pump beyond the ITO price over the next few weeks.
I'm in the exact same position. Only way I see the ITO pumping beyond the ITO price is if it sells out, I don't think that will happen. I think there's been a very positive response to the Blocknet and that it will sell out. There's no certainty, of course. I hope it does, that would be truly awesome. Arlyn will we find out today the minimum amount needed for the project to go ahead? Yes we'll be releasing that info (and a fair bit more) a little later today. |
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Anyone else undecided on whether to buy into the ITO or not. If I hadn't lost money & buying power on XC it would have been an easy decision. XC has retracted so much and has likely bottomed out for now, it might be worth hanging on as it retraces back. On the other hand the ITO could easily pump beyond the ITO price over the next few weeks.
I'm in the exact same position. Only way I see the ITO pumping beyond the ITO price is if it sells out, I don't think that will happen. I think there's been a very positive response to the Blocknet and that it will sell out. There's no certainty, of course. |
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Hi XC community! Are you ready for tomorrow? From tomorrow on we are together on Blocknet. Our strength is in our unity! Kind regards from Stealth Coin community  Hey MR1 I'm pretty excited! Can't wait to be involved in the beginnings of the internet of blockchains. Here's to the overarching value of collaboration, Arlyn |
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I'm surprise nobody asked these question: [Though I haven't read everything yet]
- Concerning the BTC exchange, what will be it's % distribution between Bittrex, Bter, Poloniex and CoinGateway?
- Then what will be the % distribution of the ITO between BTC, XC and the other coin?
The 10% discount appear nice at first [mostly for the original miners though], but it will just result in the most messy ITO of the cryptohistory.
It would be a shame for such a promizing project.
Much simplier & neat to strictly stick to BTC, and a single centralized provider such as Bittrex.
We'll be releasing some details about the distribution of tokens later today. Distribution can also be modified as the ITO continues and we watch volumes on various pairings and exchanges. I don't think that the 10% discount will make the ITO messy. |
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Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?
We are doing it for free as we see huge potential in this awesome project and great long term investment We will be buying BlockNet shares like everyone else None of BTC ITO goes to our pockets Cheers This is true for me too. I work for XCurrency and am not paid by the Blocknet. |
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could you please explain how the 10 % discount using any of the participating coins will be managed exactly?
considering for example the nhz:block pair on poloniex when and how will the its price be determined? will it be a fixed price or will automatically adjust to the current btc:nhz price?
You will be able to buy with participating coins at a 10% discount through Coingateway , it is very simple to use You don`t have to register there , you're given an address to pay your participating coin to, and you enter an address to receive BLOCK tokens The reason for this is that only BLOCK:BTC pairings will persist after the ITO. Exchanges won't be keen to add a pile of new pairings only to remove them shortly afterwards. Unless exchanges decide to do any additional pairing. For pricing, we'll pick prices of Blocknet tokens at the start time of the ICO based on a recent average (exact algorithm TBD). Then we'll deduct 10%, and put up a sell wall there. Any discrepancies in price between coins will be arbitraged by traders, and so the market will converge on a 10% discount no matter what coin you use. Supply of BLOCK tokens will be distributed accordingly , supplies will be moved from one place to another if it is needed thanks for your answer. one last question concerning the pricing using the NHZ example again: what does prevent a NHZ whale from pumping the BTC/NHZ price and putting a decent buy wall a few hours before the ito starts increasing its recent average such that the token/NHZ price will be determined to his favour and then selling a lot of NHZ for an awesome price. i mean the buyers of the NHZ wont have any disadvantages as in that case the token/NHZ price is determined so that they can buy the blocknet token for the 10% discount, so that they actually wont care about the high BTC/NHZ price. What prevents whales pumping NHZ is that other whales could equally cause NHZ to dump, buy them cheap, and get more ITO tokens. Ultimately what the ITO means is that the value of participating currencies tracks the exchange rate of BLOCK. Any deviation up or down gives rise to arbitration opportunities between participating currencies, so their prices will all converge around their price relative to BLOCK. |
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We consulted with participating exchanges prior to this and they are completely comfortable with the legality of the ITO. Speaking personally now, what serves as a continual source of fascination is how US organisations seem not to notice that their jurisdiction ends at national boundaries. The Blocknet is not an organisation or a business. It's a network. It exists everywhere and nowhere. It does not exist in the US. If you're based in the US and buy Blocknet tokens, this does not mean that you bought them *in* the US, because the tokens don't exist in the US, ever. (They don't even exist in the US if you put them on a paper wallet, because paper wallets are just proofs of ownership of an entry in a blockchain, and the blockchain doesn't exist in the US.) (Also, we're not offering securities. We're offering digital tokens, which are the denomination in which service provider fees are paid.) |
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Hmm... point broadly accepted, but:
- Dan is not providing Xmixer tech to the Blocknet. That's an XC feature only.
- There are no plans for development of the XBridge to run on XC first. It's not an analogous situation to BTCD.
There is no "internet of blockchains" if one coin has superordinate status over another. This would be like one website having superordinate status over others.
It's great to hear that BTCD's position is temporary BTW.
On the other hand, the SuperNET runs on NXT's blockchain and as far as I know that can't change. This could be a problem.
Yeah, I should have been more clear there. XC is providing Xmixer tech as a fee based service similar to how BTCD is providing Teleport. Well, Xbridge has to be developed and implemented on some platform first I assume. If your planning on having the official release of Blocknet ready and available on all platforms that would be good too. Not sure if SuperNET will have every implementation ready for whatever release date is set. It's mostly just a matter of limited time, since each implementation requires that particular coin's devs to work with jl777 getting it set up. After BTCD is fully completed though it should move pretty fast through since most of the work will already be done. A lot of jl777's existing projects have been built around NXT and many of those are being implemented as features into SuperNET. I'm not sure if the network as a whole relies on the NXT blockchain to function, but a lot of the most useful parts of it that involve the decentralised asset exchange certainly do. Aha. Thanks. Regarding NXT's blockchain, I've yet to encounter any statements more detailed than "SuperNET runs on the NXT blockchain," so I've just taken that at face value for the time being. (Incidentally, I've discovered that the best way to be educated about SuperNET is to make statements about it publicly and have people come and correct me. Ha ha. :-) Speaking of blockchains, to the best of my knowledge the Blocknet will use its own blockchain (not XC's or another coin's) but this will only handle transactions denominated in BLOCK - which is to say, the paying of fees to asset-holders. All other transactions on the Blocknet will be handled by the blockchains of whatever currencies are involved. So when it comes to service-provision, a service will be rendered, and payment for it made, on the blockchains native to the nodes involved. But in addition, Blocknet microfees will be sent off, exchanged for BLOCK, and paid to asset-holders. Tying all this together is of course the XBridge protocol and the decentralised exchange. As you can see above, the blockchains of participating currencies are not sidelined or made secondary to a master blockchain. I'm not sure that this is that case with SuperNET. |
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