Ok, that was earlier than expected!

I doubt that it was a fake. Most likely they've published it too early. What I believe is that it will be published again. Question is more "when". But since the news already is in the world - there is not that much alternative.

99% chance that there will be an announcement soon. At least that would be my guess.

Big News:

Lykke Exchange is now Licensed to Provide Financial Services in Asian and African Countries
https://lykke.com/city/blog/2016-11-16/vanuatu

You could download the App on another/new phone and get your wallet back with the 12 words. It's somehow similar to import private keys into a Bitcoin-Wallet.


From the FAQ's:

Is it safe to keep my Lykke coins in my Lykke wallet long-term?

We think so. While Apple phones have very good security preventing any malware from recovering data from an app, you should keep a lock code on your phone and take other measures to prevent people from accessing your wallet. It is very important to create paper backup of your wallet - just write down 12 words seed. This seed will help you to recover your private key in case your device is lost or stolen.

Is it possible to use the wallet to do an offline cold storage?

Assuming there is no malware already on your computer or phone, there are two ways to do that:

Be sure to save the twelve-word password of your wallet in a few different places, then delete the wallet from your phone. You can always re-download it and recover your coins using the password.
Send your coins to a Coinprism wallet and back up your private key there to an offline device.
https://lykke.com/city/blog/2016-10-05/lykke_ico_faq

Could be right but I don't know tbh. My Iphone is 3.5 years old and with that I'm fine. I even have more trust in it's security than in my Macbook because I simply don't use it much. But in general I understand all security-concerns, even more on Android.

When it's about Lykke: They'll do a lot to make everything as secure as possible and smartphones won't be the only devices to access the platform.

What I would like to see, and already told them and they said they would put it on the list: Cold-storage. That would make it pretty secure, if one is able to generate keys offline, send LKK on a cold-address, and whenever one needs his LKK an easy feature to import the private keys.

There is a lot to come in general. They work hard on a lot of things.

Wow, that's great!

They do care. Otherwise they wouldn't ever speak with Crypto-folks. And obviously they are not that much small-talk-guys here on BCT and there are some more or less subtle signs that they don't like all the price-talking ;-) , but one has just to look at Brian Deerys post-history here and Paul Snow is more active on reddit etc.

I believe that they are coding-workaholics. And if they do it right, your concern that guys like we are could damage this project will be baseless. I believe Factom is already too big for that. We could spread rumors and lies however we would want, it wouldn't change the opinion of potential customers. I would be surprised if companies would give much on BCT-talking.

Not yet. But they are working on it. Lykke won't stay just on smartphones.

It's an interesting question if LKK-shares will be traded on other exchanges as well in future. I believe the answer is "yes". The reason is: Usually a big project like this publishes the idea (whitepaper etc.) and does an ICO without much real to show on development-side. After the ICO it takes some time until launch and the tokens hit an exchange, in best case Poloniex. Polo is also kind of an attention-booster. All projects, even much smaller ones, benefit from that.

Lykke is the other way around: They go step by step more into the public while they've already delivered a lot, so they are able to sell LKK on their own platform. That's a big pro in comparison to others who just sell future-promises. But when it comes to the factor "attention" it doesn't get the quick boost. It's more slowly increasing for some time, but I believe at a certain point it will explode in combination with big news, that will come without doubt.


Thing is: If I'm right with that, Lykke will have much much more volume in future and that won't be just LKK since it's about digital assets in general plus forex-trading (like Richard Olsen did with https://www.oanda.com/lang/de/). And THAT (high volume on Lykke) will make LKK even more to a buy. And that might be the point when other exchanges could join the game.

You really believe it's possible to draw conclusions about future success or failure out of a name? Somehow a new approach to analyze projects. ;-)


By the way, it's a great name in my opinion. Richard Olsen explained it on Reddit. Somebody mentioned this:

"Any association to Norway? Because "lykke" is Norwegian for "happiness" :-)"


Richard Olsens answer:

"Lykke is the surname of my grandmother (my father's name was Jørgen Lykke Olsen). My father, who was born in Kopenhagen, explained to me that we are Lykke - we have luck - our project needs Lykke to succeed, so the name Lykje seemed appropriate. Lykke seemed to me like a good choice, because any trade requires luck and is therefore a good name."

https://www.reddit.com/r/BitcoinMarkets/comments/57n2st/lykke_a_global_marketplace_on_the_blockchain/

Dividends:

"Will the coins pay dividends?

Yes. They will when the company decides to pay profits to investors, rather than re-invest to fuel growth. As with most startups, dividends may be some time away."
https://lykke.com/city/blog/2016-10-05/lykke_ico_faq#will_the_coins_pay_dividends


Buying: Yes, you can buy LKK on the Lykke-market via the App.


Security: When you install the Wallet-App there is a step where you have to write down 12-back-up-words. If you should lose or damage your phone or delete the App accidentally you can restore the wallet.

I doubt that the price will be more rational in future then it was in the "past" - since it launched. What I want to say with that: I believe it will be a pump and dump show for some time. There are big miners involved. All what they have to do is not to sell, maybe in combination with some good news they have foreknowledge about or whatever.

Another thing is Bitcoin. I believe there are three scenarios for BTC for the next time:

1. BTC doesn't move much - usually that means that Alts are manipulated a lot because there is not that much reaction on Bitcoin
2. BTC could shoot up, find a new ATH - Alts would go down first, but once the BTC-bubble would burst, I believe that many Alts that get a lot of attention will do what LTC did in 2013 (not saying that it will be at a bn-marketcap but irrational high - others as well).
3. BTC could go down significantly - Many Alts would increase.


Of course that's not true for all but I believe Zcash will react on Bitcoin since it is one of those coins that get high attention.

Under the line I don't believe in any objectivity or rationalism, especially not when it's about Zcash.

Yes, true. I believe that there is no device that is ever totally safe as long as there is a connection to the internet. I feel somehow safe on IOS but under the line I'm paranoid when it's about security and usually I use an offline-Computer to generate keys for cold storage.

When it comes to Lykke: I'm not totally sure right now, but I believe at least it might already be possible to do the step with the 12-backup-words offline. But, more important: Of course it's work in progress and they really have a focus on security and also user friendliness and Lykke also won't be just about App's in the future.

Lykke is one of those projects that will grow in many ways/directions significantly and it's hard to know exactly how it will look in future. It's much more complex as it might seem now and also already bigger than many recognize. But I believe progress will happen pretty fast in comparison to others, because of the big team that is working on this.

There are at least 2 or 3 points I'm very critical about when it comes to Zcash, but the inflation is not an issue. It's not higher as it was in Bitcoin when it started and some other coins. The impression of high inflation is a result of the distorted price which is a result of the combination of slow-start (low supply) and hype (high demand). That's why the price was way too high and now it drops to a point where the market sees a faire valuation - wherever that might be. But I doubt it will go 0.005. That would be about $3.5. Won't happen, not even if there is a real worst-case-scenario.

To think about the price one has to think about the marketcap at a certain point of time and how much coins there will be at that point.

But again: That's not a problem. The price had to go down. Or more precise: It never should have been where it was. And the inflation is just like Bitcoin.



What I'm critical about is:

1) Trusted Setup - while there is a very high chance that it all is ok it would be naive to ignore that part
2) I'm not a technical guy but what I've read is, that because of it's design it would be possible that a very dangerous bug maybe wouldn't even be detected.
3) The high mining reward for the team


I'm not so sure about point 3, because in fact also Satoshi has a lot of Bitcoins and other early participants and other big projects do ICO's and so on. But at least it's something that gives not the best impression.

Yes. I few weeks could be minimum of two and theoretically it could be also 4...5....6 ;-)

Absolutely correct! Plus: https://www.exodus.io will add Factoids after M2, and: I'm not 100% sure but I believe Factom will release a new wallet.

Yes, right. One reason is most likely the Bitcoin-price. Since the ICO has ended until now the Bitcoin-price is up about $100 and problem is often (also visible on Poloniex) that a rising Bitcoin often leads to overreactions. A lot of Altcoins went down more then Bitcoin went up. I'm glad that LKK is not that much affected like some other investments I'm in.

But in general: The LKK-price will rise once Lykke will get more attention and once more people understand it's potential and when some important milestones are met (on development side but also regarding regulations etc.). And that will happen over time and most likely with increasing pace, because at one point one leads to the other. Progress will lead to more attention and more attention to more use and a rising price and a rising price leads to more attention and there already will be more incentive to use it and to buy LKK and so on.

And before all: Once the dynamic I'm speaking about will set in, it also will lead to more user-participation when it comes to spreading the word. More feedback on all channels (retweets, more activity here or on reddit etc.). Lykke will become more visible and more attractive.

Safe to say is that it will become more interesting over time - it won't be boring. ;-)


Roadmap:

* Margin trading (Q4 2016)
* Regulated retail FX (Q4 2016)
* Offchain settlement scalable to 100’000+ transactions per second (Q4 2016)
* Ethereum support: multisig wallets, interblockchain atomic swaps (Q1 2017)
* Payment system provider (Q2 2017)
* Regulated institutional FX (Q3 2017)
* Fixed income products, commodities (Q3 2017)
* 1 billion USD average daily volume (Q4 2017)

Not sure what you guys talking about...

Not even 48 h ago: