Looks promising, I will reserve the translation and social signature bounty. And whats the escrow?
CEO of Brave New Coin, CEO of BitPanda, and CEO of BitScan will hold keys - that's the current plan. Funds released in tranches as milestones are met. |
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Looks like the project is gaining speed. Good luck.
Thanks Zubnin. We'll be starting a sig and social media campaign shortly, so stay tuned for details. |
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First AMA is in just over 13 hours. Please drop any questions here or better still swing over to the Incent Slack and ask them there. We'll set up a channel for questions. |
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Weekly Stochastics have not been this low since F'ing June 2015!
800's is where its at. we'll be there shortly i think and kinda bounce around there until bitcoin inevitably dies and price crashes to 0.
What, I don't visit this thread in a few weeks and when I check in Adam is talking about bitcoin death and JJG is nowhere to be seen? Is it April 1? |
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As an introduction to what we're trying to do here, take a look at https://bitscan.com/articles/a-few-thoughts-on-crypto-reward-tokensBottom line is that traditional reward tokens lack value, mainly because they are non-transferable. By addressing that with a blockchain-based token, we can offer merchants and customers a whole new set of advantages. |
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An announcement regarding BTCD Swap rate and bonuses
There has been a lot of discussions about the BTCD swap rate, and whatever the 0.00532 BTC/BTCD rate is enough.
As the community was waiting for the coming announcement, the BTCD price had already climbed near this price. Once the announcement went live, the price had already reached its 'ceiling'. What made things look even worse was the ICO bonus system for BTC investors. Those bonuses would further lower the KMD share BTCD investors would get in the swap. In other words, some people felt that BTC investors have a significant edge, because they have the bonus system and the BTCD holders feel like they didn't get one.
To solve this, the allocation of BTCD in the ICO will be saved from dillution by applying the average bonus the BTC investors got to the swap rate.
Example: Lets say 10000 BTC are collected and 1000 BTC in early investor bonus was taken. That means the average bonus is 10%. This brings the BTCD swap rate to 0,005852.
Very nice move. This was the kind of additional extra I wanted to achieve for BTCD holders. Will blog about this within the next 2 weeks. Crypti holders were offered 1300 BTC buyout, and 14000 BTC was raised for Lisk. Crypti swappers got less than 9% of Lisk supply BTCD holders will be getting ~7000 BTC buyout. Even if maximum 30000 BTC is raised for Komodo, that would still be 20%+ of supply going to BTCD holders. It's a good deal, I'm happy with it. I don't see any Crypti holders complaining anymore, now that the BTC value of their holdings is up 350%+ through the Lisk conversion Market cap of btcd is currently ~5k btc, so not bad. What happens to the komodo left after the year has finished? Inevitably many will not be swapped. |
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What is the minimum quantity of BTC that needs to be raised to make the project viable?
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Did you know Loyyal is trying to get a patent on using a blockchain for loyalty rewards?
Personally I doubt if they'll be successful but I guess they must think they have a chance.
There are a couple of other blockchain loyalty schemes we know of, but 1) there's room for lots in the sector and 2) we're confident we've got a good proposition. |
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We have tried to make things as fair as possible for everyone and they say a good sign of a fair deal is that everybody is complaining.
You should try living in the UK. (Or maybe you already do. No one knows.) The TL;DR here seems to be that BTCD investors get 50% bonus on ICO, plus any subsequent cap gains such as they may be. If they're zero, that's still 50%. |
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I think it's worth noting here that many coins go 3x on ICO market cap after launch. There are no guarantees of this, of course, and many factors involved. Ethereum and Waves were/are slow burners, others have gone 10x, but seen far more volatility.
Point is that BTCD investors get a 50% bonus, and then get to enjoy any price rise on ICO that comes from launch. If your concerns are solely financial, this seems like a pretty good deal to me.
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So correct me if I am wrong.
But this fundraiser means that by October 1st the Waves platform has the ability to crowdfund on it?
Or will an external party host the ICO?
cheers,
For several reasons the ICO is being held on a 'regular' ICO site (indeed based on ico.wavesplatform.com), with advice and input from the Waves team. Re: Waves deposits, we will be accepting a certain proportion of Waves, probably around 20% of the total. We want neither too much nor too little, since Incent aims to bring value to Waves and will hopefully enjoy the resulting price rise, but at the same time we want BTC for day-to-day running costs. |
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Thank you for the FAQ. To confirm: BTCD submitted for swap will be credited as Komodo IN THE ICO USER ACCOUNT area, for withdrawal as normal afterwards?
If this is the case, BTCD holders will need to open an account before the ICO is over, or else ICO account creation will need to continue after funds are no longer being collected.
Just useful to clarify these points, thanks.
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Very pleased to be a part of this. Please drop into Slack to find out more. We also have a presence on Waves Slack.
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BTCD Valuation for the swap
In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo. This exchange rate was determined by adding a 50% bonus to the daily closing price average of August. The swapping process will take place after the ICO and detailed information will be posted soon.
Average price in Aug = 0.00354716 BTC/BTCD
BTCD exchange rate = 0.00354716 * 1.5 = 0.00532074 BTC/BTCD
When we take into account the bonuses during ICO, we get:
Oct. 15 - 25% bonus = 0.00425 BTC/BTCD
Oct. 16-22 - 20% bonus = 0.00443 BTC/BTCD
Oct. 23-29 - 15% bonus = 0.00462 BTC/BTCD
Oct. 30-Nov 5 - 10% bonus = 0.00483 BTC/BTCD
Nov 6-12 - 5% bonus = 0.00506 BTC/BTCD
Nov 13-20 - 0% bonus = 0.00532 BTC/BTCD
Has more detailed information been posted about this yet? The swapping process will take place after ICO but will still take into account the timing of the bonuses during ICO? |
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Will there be a code audit to avoid the kind of problems the Dao suffered?
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What's your latest with NXT? Looks like a breakout upwards is pending. Probably sometime between now and the 14th.
3400 is distribution area. 3500 will probably mean a new leg up (higher high). My target for NXT is around 8000k. Mostly I just lurk on BTT nowadays, because trolls. But this is worth a post: good call (both). I know you're both targeting 0.00008. Nxt snapshots start in three days. Any thoughts on how that will affect demand, since there will be a process of diminishing returns? |
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@Karl_Karlsson
gehört zwar nicht wirklich hierher, aber trotzdem...
da Du ja zum Team gehörst und somit zum heiligen Sasha Kontakt haben solltest, frag ihn doch mal bitte bei Gelegenheit, wann er denn gedenkt, mir meine SuperBTC zurückzusenden.... ich hab ihm seine NxtBonds am 25. Mai geschickt.... Nachfragen via NxtNachricht interessieren ihn ja offensichtlich nicht... und im NxtForum kann ich mich nicht registrieren, weil ich da keine BestätigungsMail bekomme (sonst würde ich da Cassius auf den Geist gehen)
ID 7448886905770635890 Date 25-May-2016 07:35pm
vielleicht könnte er bei der Gelegenheit auch die Rücktauschwünsche der anderen User bearbeiten (ist ja im NxtBondAccount sichtbar, wer was wann dahin geschickt hat)... ich bin mir sicher, dass die sich auch freuen würden, ihre superBTC zurückzuerhalten...
(ich hab echt keine Lust, wegen meiner lächerlichen 100 Dollar die offenen Rücktauschwünsche aller User rauszusuchen, um Sasha dann direkt und öffentlich auf Twitter und Facebook zu befragen.... ehrlich nicht.. ich meine, sieht ja auch nicht gut aus, wenn er sich seit Wochen nicht um seine Assets kümmert... grad, weil er die (irgendwann) zu Waves transferieren will)
Vielen Dank
Sorry about this. My German is not up to much, but this should have been sorted now. |
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Sold 50% ETH back at 0.031.. let's see if it breaks through or forms a double top *crosses fingers for it breaking through*
Guess you called it after all  Well played, sir. |
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i found a transaction that probably caused the bitcoin days destroyed spike. It was in block 412183. [...] Interesting, thanks. That would suggest more people are withdrawing BTC than depositing at whichever exchange that is. ya it kinda seems like an exchanges had to dip into their ultra cold storage. if poeple are indeed starting to remove coins off the exchanges... well then  It's also possible it's a proof-of-reserves audit. I think that's happened a couple of times before. Either way, 50m BTC days destroyed is a lot. Call it a generous 20m of background noise and 30m extra. If that really is from back in 2010 you're still looking at 15k BTC moving house. |
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