Dear community! It's Kakumei again, the official Community Support / Manager. I am so very happy to see all the requests and community members helping each other. We truly have some very dedicated supporters for which we are very grateful! Thank you very much everybody! Now, off to your questions...
Let me first start wrap up all the discussion regarding PayPal.We are absolutely trying to become the PayPal of cryptocurrencies. PayPal has very high fees (2.9% + $0.30 mostly), not to mention absolutely terrible foreign currency conversion rates. They literally make money every step of the way simply because they can. We aim to bring a solution into the market that can solve this problem, at least for cryptocurrencies. and can people withdraw fiat from platform direct?
they say you can accept multiple crypto currencies at once and all payments received will be converted to fiat currency ... so they have their way they will exchange any tokens and replace by Utrust token for their platform and withdraw it anytime if you want.. best deal to have! i think there will be one time verification required for fiat. but i need to know about that. if they have then that is easily can process. I kinda missed something in the Whitepaper. Is UTRUST going to roll out everywhere at the same time or will they start in some region first?
how many services utrust will be provide? is there bank withdrew or ATM card for worldwide will provide? any restricted country?
Both of those questions heavily depend on the regulations of the country we will be regulated in. For fiat conversion we will definitely require some kind of verification (KYC/AML) just like every other exchange. If we require these for simple payments I cannot confirm yet, but I assume that we do not. Bank cards are not on the roadmap for now, but who knows in the future! Can we use utrust as a wallet like load now and use later?
Absolutely! and can people withdraw fiat from platform direct?
they say you can accept multiple crypto currencies at once and all payments received will be converted to fiat currency ... so they have their way they will exchange any tokens and replace by Utrust token for their platform and withdraw it anytime if you want.. best deal to have! So this means its centralize exchange focusing only to their token and exchanging to fiat, or will it be like shapeshift where you can interchange different kind of coin/token? Can we use utrust as a wallet like load now and use later?
every payment service in existence offers that, surely uTrust will offer the same. When we reviewed their white paper based on their comparison between uTrust, paypal and bitpay The uTrust is more superior and better when it comes to all aspects of services they offered that paypal and bitpay cant offer to their clients. Yeah Im impressed too when I read Utrust white paper. Faster payment approval , lower fees plus you can pay whatever crypto you have, and if you are the Buyer you will be guaranteed to be safe because of their customer payment protection. I think utrust will be the next pay pal or at lest pay pal of cryptos Not just that... They said that u can exhange any crypto for their token and withdraw or change it to usd or bitcoin? If thats the case an instant trading market too. Right? You can absolutely use UTRUST for trading, but the fee will be a little higher (1% vs 0.25% on Bittrex for example). I'm really keen to see how the api will work. I have several possible scenarios where this product can be implemented.
So are we, very much! As a developer myself, I really like the Stripe SDK and documentation. How I wish this project will be widely adopted across the world reaching my place, and then some banking establishments will also find a way to go into partnership with them, so that I can easily transfer fiat money from their partner banks directly to my UTRUST account.  Only time will tell, but we certainly aim high! I am so much intrested in this project but I am really worried that this will be sold in few minutes. I forgot to register for bonus so the chance of making good profit is less. Wish I knew about this earlier.
With over 10 new pages on BitcoinTalk every day now, people are clearly noticing! I am still confident that if you get in right away you still have a very good chance. 700 million tokens is a lot! It is all right, mate. The ICO-proper is still unscheduled. Utrust.io indicates that the ICO schedule will be announced in the first week of October. We are barely a week left before October hits. Pre-ICO has always been a good indication as to how the ICO proper will fare out. So you better be quick and regularly check the UTRUST website for updates.
Pre-ICO's are usually for big investors. Small investors like me usually have to wait until the crowdsale. Some projects are very succesfull without doing a pre-ico. I sometime doesnt see why you need to do a pre-ico. Some ICO's raise a lot during the Pre-ICO and almost nothing during the ICO :s Our pre-ICO was actually mainly for smaller investors. The previous round (private investors) was for bigger funding. Don't know what you asking, UTrust has their own ERC-20 token, this means that you can store theme in any ETH address of which you own your private key
Can you send from exchange or only MyEtherWallet? you can use MyEtherWallet create a new address which you can have private key,dont use market address because you dont have private key This is correct! You can use any wallet you would like to participate in our ICO (BTC or ETH). Once available, you can withdraw your funds to any Ethereum wallet that supports ERC-20 tokens (such as MyEtherWallet). I regret that i made a investment with small amount of money in Pre-ico. i wish could buy more tokens.
There is still time! If you participated in our pre-ICO you can buy an additional $10,000 for only $0.052 through our Early Supporter Reward. Pre-sale investors received tokens already? We will receive tokens just after investing on crowdsale or we ll must waiting?
Nobody received their tokens yet. All of them will become available 3 days after our ICO ended. How will UTrust deal with the market volatility? I have some questions, UTRUST tokens will get destroyed in a process, does it mean that I will own less of my UTRUST tokens over time?
This is actually very well described in our Whitepaper. - We convert funds immediately to fiat to protect the fiat value.
- Your stored tokens will never decrease on their own. We will only buy new tokens at market price to burn.
Is there already an announcement from the team if they are in contact with some online shops to implement the UTrust payment option or is still too early to ask this?
While we do have a very strong marketing strategy to incentivize merchants, we cannot announce any partners at this point. I want to ask some questions regarding the difference of having their own wallets, I mean they will be having their own wallet for Utrust? Is there any advantage if they have? Because for me it seems that having one would also be good to hear and it attracts more investors because of its unique features and they have their own platform rather than using smart contract, but i guess it wont be beneficial anyways.
You can also use UTRUST as a secure wallet for all kinds of things if you mean that. how many services utrust will be provide? is there bank withdrew or ATM card for worldwide will provide? any restricted country?
A card is something I look forward, too. That would make the entire project really cool and UTRUST users too. As for the country, I can only wish it would cover as much as possible countries beyond Europe and the American region. Will watch the development of this project closely. Card? You mean credit card like in centra, monaco? but they ll dont have cards as i know. Its service for business customers. UTRUST is actually not only for merchants, but is also aimed at making peer-to-peer transfers easier. You can easily send money to a friend for instance, just like with PayPal. Cards are not on the agenda for now. What about payment, will it work with mainstream ecom sites like Amazon etc?
This is up for Amazon to decide. I dont think you need to think anymore, you have seen the pre-sale success and we all know people are going to jump in as soon as the platform releases. I have always supported those projects which have serious solutions for real-life problems.
Thank you, ubercool! has the exact date for ICO decided? It says the ICO starts somewhere in October, it is approaching now, and the advertisement seems effective. many people know about UTRUST
We will announce it within the first week of October! Can I use it in any type Of mobile?
We are planning Android and iOS for now. What promises UTRUST is deception, which the developers are not going to implement!
They copied the idea to get the money for himself.
When looking at his post history he seems to be an avid supporter of Monetha, so he might be just fudding here.
You are diehard upporter of monetha. Can you please explain to us what is happening to monetha.
All I can say about Yury1 is that this user has been around since we started the thread. Everybody that thinks he is not on a personal agenda against UTRUST should simply check his post history. Very loud supporter of Monetha, and while I understand that he has a point (no MVP), calling us "deceiving" or claiming our product will take "2-3 years to build" is nothing more than FUD. We'll take it as a compliment! Actually, utrust started almost at the same time as monetha, they didn't copy each other, they both copied Paypal and Pajeer, and others online wallets, they both work in the blockchain, so the more options the better, the public will choose which one is the best, or which one meets their needs the most, I will have both accounts for example, as well that I have ethereum accounts, bitcoin accounts, and NEM accounts, so trying to FUD is pointless at this point XD.
While I endorse no message of other users, I certainly cannot disagree with that!  Thanks, Voltaje! So you have a crystal ball mate! Can you tell me also prizes for REAL, Magos, Kickico, Oxy, Eventchain and VibeHub (well yes, I invested some in those) ?
Hah, I'll take some of them too please! 🚀
As always, I hope that I answered all of your questions tonight. I will be back tomorrow! I apologize in advance should I have missed any questions. Have a nice week everybody! Kakumei |
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Woa Kakumei you're well informed about China, so you think exchanges shutdowns is just a political move ? What do you think about miners? A good chunk of btc mining power is based in China, how can they close them? By bombing wharehouses  ? Joking but this can be an issue As far as I know are Chinese very confident that this is not going to happen. We are now rapidly going towards a world where hashing power equals leverage over a technology that has the opportunity to change the world as we know it. Russia is investing into their own ASIC chips to get a piece of this power and with them in play it's extremely likely that the U.S. and other countries will join the action as well. Unlikely and very non-China to give up the overwhelming power they have over Bitcoin. Just my 2 (personal) cents! We are actually way ahead of schedule and our roadmap is very conservative to assure we can definitely deliver on time. Nuno, our CEO, however confirmed that we are very likely to deliver ahead of schedule. So this is great! 👍
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Nice, yes this is very reasonable for everyone if you adjust the roadmap ahead of time because from the start you got a huge support from the community and imagine just for a short period of time this project sold out a huge amount of tokens? The community is very excited and cant wait for more development. A signs of great success👌
We are really hoping for a big success! |
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Good evening everybody! It's Kakumei again, the official community manager / support.I'm back to answer many of your questions. With 8 new pages we are positively overwhelmed by all the feedback and questions you have for us. Thank you so very much, everybody! Now, off to your questions...
rejosh
oh.. they changed crowdsale rules and I'm a little confused...
In which case investors will have a 20% bonus?
Mate please check this announcement. They were offering 20% bonus to all early supporter who are registered before 20the sept. I am assuming you are little late now. https://bitcointalk.org/index.php?topic=2078433.420It's a interesting project, is there any bonus?
Yes, until the 20th of September we offered a 20% Early Supporter Reward for contributions up to $10,000. So while this was interesting to individual investors, we limited it to affect big buyers / whales. We really want to support individual supporters and long-term holders. I think this project can bring down the Monetha project, because it is better in terms of security and protection of buyers and sellers.
We draw conclusions.
We do not want to bring down Monetha. The space is big enough for multiple payment providers. Think PayPal, Stripe, Braintree and more. But we do think we will have the most advanced platform of it's kind. Accepting multiple cryptocurrencies (even non ERC-20 based ones) and buyer protecting - we think this is huge in the space! Really have high hopes for this project!
Cant wait to see it go
Thank you very much FIEX, same here! I saw your comparison between your platform and on the traditional platform. It is good that you are better than those traditional platforms. All of the things they can't manage you took charge out of it. That's a good thing. But I have a question, what makes you different from any other crypto related platforms?
A unique buyer protecting mechanism, blockchain rated incentives for sellers, easy to implement SDKs for developers and a fiat gateway are among my personal favourites! will there be a limit in token exchange per day? week? as i read the UTRUST ability there will be zero percent in exchange for token (funds) on UTRUST as for this, this will be a good trading market then for that token, as we all know ICO changes their value time by time and all of trade market have exchange fees, so if i want to invest in utrust in the market this is a good trading platform for buy low sell high too..
I'm afraid I do not fully understand your question. You are right about 0% fees if you pay with UTRUST tokens. You can think of this the same way as if you were to pay with your PayPal balance, which is usually free. will there be a plan of having a physical card ? yes it is a credit card like platform! and a buyer protection is a must as we saw many failures from paypal before with fraud and scam of many buyers. the problem will be at high risk because of anonymous issue in crypto currency sommunity unlike in paypal of document support site.
Currently not on the roadmap, but definitely something we would be looking into long-term if the demand is there. Match made in heaven! Please answer me! 2% DILUTED per year for the next 5 years. that what i read on the Utrust site.. (they allotted 10% = $2,000,000)
how can you earn that 2% per year if you are a token holder though every token are in different wallet. how can the stake be pass to those people? or that allotted 10% will only be gain on the Utrust wallet? ?
I'm sorry if I missed your question previously. Not quite sure where you read 2% dilution every year as that is not correct. It's more like an "up to 5%" every year. However, there is no minimum of tokens we will burn, only a maximum. We will keep this variable to support our system to the fullest, but keeping a strong incentives to hold the tokens for our investors. the first and second sales was successful, they were 15% of total tokens but will there be a big problem on the grand sale this October? many of the investors are from China and china totally banned the bitcoin in their country.. will this bring a big wall for the ICO success ?
Yes, I have same questions since we all know whats hapoening now in China. Since Over 90% Of Chinese ICOs Have Fully Reimbursed Their Investors. More than 90 percent of Chinese token offerings have refunded their investors’ money in full, and some Chinese exchanges have also issued restitutions as they prepare to suspend cryptocurrency trading. What is the possible effect of the current issues happening in China for this project? Do you have investors from China? What is your back up plan once they ask for refunds for their tokens investments because it will affect your projects. The government of China banning the ico and they are closing down all bitcoin exchanges that makes huge investors make a full refunds from their investments in coins and tokens. Are those issues cant affect this project? What can you say about it.
We are absolutely not worried about China, mainly because there are some misconceptions flying around. Let me clarify somet things here: - China did not and is extremely unlikely to ban Bitcoin.
- China did not ban ICOs per se, instead it banned the funding of Chinese projects through ICOs, which means that they can still participate in projects from abroad, such as UTRUST.
- China did order local companies to issue refunds. They cannot and will not try to regulate ICOs outside of their regulations.
- Our Chinese community (on WeChat) is alive and well, growing daily and very interested. Check it out if you speak the language!
I hope this clarifies the situation regarding China. fast and cheaper in fees?? Utrust token will be huge. i will hold this for future transaction, imagine your holding your favorite cryptocurrency in a utrust platform to make payments. expect more people to invest on this platform .. by the way how many circulating supply token will be release?
they already release 150,000,000 tokens last month and will release 700 million more next month they will have anohter 150 million for dilution and bounties so all in all it will be 1 billion Utrust tokens !! huge supply token, but with huge number of users is no problem. You need a vast amount of (very cheap) tokens for a project like UTRUST to succeed. It's much easier for users to deal with something like paying 1,000 UKT for something than 0.000123 UTK. Just like IOTA has billlions of coins to allow for microtransactions, we will have many tokens to allow people to understand it better. So this project can be used in public by 4th quarter of 2018 based on the road map? do you think it is good for the community to wait for that long? we all know that many crypto investors are finding projects that may give them a good and fast profit.
I know there is still time till ICO, but im bothered with the road map where you state that you will do tests only in Q2 2018 and get partnered up in Q3. For me it sound really late to get a partner, the problem of this project is that it cant stand alone but needs platforms to use it on. I really hope you can attract good partners.
We are actually way ahead of schedule and our roadmap is very conservative to assure we can definitely deliver on time. Nuno, our CEO, however confirmed that we are very likely to deliver ahead of schedule. So this is great! 👍 paypal are connected with big companies for online selling, will Utrust do the samae but the question again, are thoose companies willing to accept crypto currencies especially Utrust? or will Utrust launch their own online store too ?
We think that sooner or later there will be no way of not accepting cryptocurrencies. Awareness gets greater every day and some countries such as Japan, Russia and (soon) Australia even accept Bitcoin as an official currency. The train has no break, so to say! 🚂 🚀 Do you have any differences with Monetha? they developing same product also?
Similar, but not same. devs said yestarday, that they have advantages before Monetha (its buyer protection and and more kind of cryptocurrencies than in Monetha) This is correct, yes! What kind of protection do they offer? Not so like banks that can return, for example stolen money from a card. There is a dispute with the seller, if this does not work, then a third party is involved as an arbitrator. But such protection works only if the seller is interested in long-term work and is not a fraud. If it is a fraud, then the arbitration mechanism does not work.
This is very well explained in our Whitepaper. what's the maximum money we can send to our banks? im very confident about the security of this platform.. im hoping that Utrust will give us maximum potential even though the roadmap is quite long
Excellent question! This heavily depends on where and how we are getting regulated. We will release more information along the way (likely ahead of the ICO). I am still curious, how and when will you decide to add new currencies? Is it just from time to time?
How will you decide which currency will be added? Do you just check the marketcap and say, ok the top 10 will be added? I asked this before, but I think I got no answer so far.
We will likely do this by volume, costs of sending and user demand. We are very community focused! I asked the same question few days ago but, didn't get any reply. If utrust issues cards and accept all major currencies then it will be a killer platform.
This was indeed answered a few days ago, and again above. Not in the plans right now but definitely looks like a good match for the future. Personally, I think this news is quite weak. Amazon has denied allegations like this several times in the past and from a regulatory standpoint this is extremely unlikely for the time being. But if this is true, it would be amazing for everybody in the space, including UTRUST. A lot more merchants would understand that cryptocurrencies are here to stay, making UTRUST an even more attractive choice for investors and end-users alike. They have a very good community and a team. Everything looks good. Why didn't they still announce ico date?
We will announce the date in the first week of October. Stay tuned!
As always, I hope I could answer all of your questions. Thank you so very much for all your positive feedback and for the support and trust you have given UTRUST so far. Let's do this, everybody! 🚀 |
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KakumeiThank you for answer. What buyer protection you ll have?  Anytime! This is actually very well explained in the Whitepaper so I'd suggest you read the part that describes this. In a nutshell it is a moderated escrow service. How much has been collected as of now ?
2 million from private investors @ 2 cents 1.5 million from the pre-ICO @ 3 cents |
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Kakumei
Hello, you said, that you dont have any competitors.
But, Monetha making also the same things. Im right or no?
Monetha has two major downsides compared to UTRUST. - Does not offer buyer protection.
- Only accepts ERC-20 (Ethereum) currencies, we will accept all major cryptos over time.
Hope this helps! |
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Dear community,Kakumei here, the official community manager / support. First of all, let me thank you very much for the support and questions in the past few days. We really appreciate your interest and I aim to answer all your questions every day. Also a big thank you to our community volunteers on the forums, Slack, Discord, Telegram and WeChat. Your continuous efforts make our community as great as it is. Now, to your questions!
Was thinking that crypto cards like Monaco, Centra and Tenx are very cool but Utrust can be really the big boy here, buyer protection is amust...speaking of crypto cards, are you going to collaborate with them?
We have no such immediate plans but cannot rule out that we would in the long-term. As far as I know there won't be paid any dividends. Or am I wrong? A problem with coins paying dividends is that it is often very hard for them to get listed on bigger exchanges.
UTRUST will not pay dividends, but I guess you could argue that you have "implied dividends" by us burning token to decrease global supply. It's not though. Think of it as the opposite of inflation in fiat. That's what that is. If im not mistaken, i heard that bittrex wouldnt accept any dividend coin/token.
But where did you get the information that if you keeping Utrust tokens you will get extra %?
Don't know about Bittrex as they also have Omise and NEO, among other coins. But to make it crystal clear: UTRUST is not paying dividends. There is some healthy press and video material popping up around UTRUST, so I believe that this may be another one of those success story ICOS that have a good following and also an excellent service/product. I am confident that it will sell out quite fast, even in this bearish market and the China debacles looming over us. Nothing can stock blockchain development now and as a Chinese living abroad I embrace technological advancement as I am sure many of my Chinese countrymen will as well.
Thank you very much! I still got a question regarding the 1% fee for the buyer and I am still not sure how the convertion of cryptocurrency to fiat works in detail.
If I understand correctly these 1% fee includes, besides a commission for UTrust, the fee that is necessary to convert from crypto to fiat on an exchange. So what happens if I buy something very cheap, maybe only worth $! or something like that and I want to pay with Bitcoin. In this case the 1 % of such a tiny amount won't be enough to convert it to fiat, right?
Isn't this a general problem as long as cryptos got transaction fees? UTrust always has to send the crypto currency from its Escrow to the exchange partner in order to get it converted. Who pays for these transactions? Because as I stated above I guess the 1% fee wont be enough to cover that.
This strongly depends on the currency you are paying with. Bitcoin will naturally be more expensive, while Litecoin, IOTA, NEO etc will be free. Not confirming any currencies here, but there are already free or next to free ones in the wild that can be used. Even Ethereum and Bitcoin working on fixing this. According to their whitepaper they accept both, ETH and Bitcoin.
This is correct. We accept 0.2+ ETH and 0.02+ BTC contributions in the ICO. How much did they raise in pre ICO? Is hard to compete right now with the crisis and flood of ICOs, but they have some time to focus on advertising.
Private investors: 100m Pre-ICO: 50m Sorry to hear that! We even extended it by one day (including the 20th as our communication may not have been clear). Exactly, thanks for sharing! I correctly understood that if I keep tokens Utrust I'll get extra % ?
And what will be the fee for payment by other crypto-currencies?
As already stated: No, no dividends.We will burn tokens which have implied gains in the long-run. Are you the first on the market with this idea? Do you have any competitors? What are your partners? Thanks 1. We believe so! There are other payment gateways, but no payment platform like UTRUST. Buyer protection is a real deal with us, not provided by any other project so far. 2. No direct competitors, but similar projects that would include Monetha. 3. We will announce more information before, during and after the ICO. What is the reason for the postponement of the date of the IСO?
Do I need passport data to purchase tokens? Can all countries participate?
And when will I get the tokens?
1. We will release an in-depth medium article in the next week or two explaining why we thought this was the best course of action. 2. Not at this point, but with changing regulation I cannot confirm or deny anything at this point. 3. As per our whitepaper, the tokens will become withdrawable 3 days after the ICO ends. Which is quite a cool construction.
We think so, too! But i think the ICO price is still cheaper than in the future when many people are using UTrust.
Pure speculation but we like to think so, too!
As usual, I hope I was of help. I will be back every day to answer all of your questions.Thank you and have a nice weekend everybody!
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looks good!We need more information about your team as so a big project need a professional development.
https://utrust.io/teamDon't Erc tokens need some gas to move it? Utrust is using ethereum blockchain so there should be some fee for transactions?
Still clarifying but I assume this will still need to be charged to the transaction (i.e. the buyer). |
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Dear Community, Kakumai here, official community manager, ready to answer your questions. I've read on the website that the API will open at Q218.
Is there a way to reserve a spot on the beta list?
We do not have a whitelist, but the Early Supporter Reward is only paid up to $10,000. Everything beyond is charged at 6.5 cents. So UTRUST is not particularly interesting to "coin flippers". If it will burn 50 million tokens every year in 20 years there won't be any token to burn. There will always be a minimum of 100 million tokens. If this threshold is reached, we stop burning. Wow, basically you're going to compete with paypal here or at least be the "paypal of crypto" , you have already in mind any partnership?
We have a marketing strategy in place which will be announced at a later stage. I can assure you, all very exciting. If it's true that this product is better than paypal and bitpay than it will be huge. My biggest problem with paypal are the high transaction costs.
Not sure about PayPal since they're handling fiat. Pretty sure UTRUST is a more sophisticated solution than BitPay though! But if you see it real, you still have more fees in addition to the 1% or? Buyer and seller need to deal also with transaction costs of the crypto, or do I see it wrong? You would likely be correct. I will clarify this for you and post it here in the next update, but the network fee is probably still to be paid by the users themselves. Given that this will become cheaper and cheaper (IOTA is free, Litecoin will soon be too, etc), this should only add insignificant overhead. Payment is irreversible, I would like to ask me after the purchase of goods is not satisfied with how to refund？
Escrow, provided by UTRUST. This is explained very well in the whitepaper. You want to create merchant like paypal?
What about mobile payment?
Not sure about a mobile merchant, but user-to-user payments are definitely planned. UTRUST will be focused on merchants, but will also have peer-to-peer functionality for you to e.g. send funds to a friend. I don't think they've announced that yet, but it would be foolish not to have it. everybody uses mobile for all sorts of transactions these days.
Mobile apps come in Q4 2018! I've read about developers whose software is being bought with stolen credit cards. The buyer gets the software for free, but the kicker is when the payment processor finds out the card is stolen, it charges the software developer! So the developer doesn't only have his software stolen, which will then probably end up on the internet as a free download, but the developer also has to pay the credit card company on top of it.
Can Utrust solve that problem?
I'm honestly not quite sure this applies here since credit cards have chargebacks and crypto does not. UTRUST will not protect users from fraudulent activities on their side, but only from fraudulent sellers. If you lose your private keys, this is still your responsibility. Own token is ERC20, right? How come that it doesn't charge fees? Are they paid by UTRUST itself? If no, enlight me please
Yes, it's an ERC-20 token. What do you mean by no fees - when making a purchase with UTRUST tokens? Is there any competitive benchmark with other crypto solutions (not the fiat benchmark)?
There aren't many really at this point. Monetha does something remotely similar but limited to the token economy (ERC-20 token cryptocurrencies only). BitPay accepts Bitcoin only. It will take some time for this space and UTRUST positions itself in an industry that is definitely still in its infancy. So, conversion support whole world's currencies or just the major ones like USD and Euro?
We will be launching with USD, EUR and GBP. Added more along the way. They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?
We raised the full pre-ICO amount (50 million tokens at 3 cents) in 90 minutes and the ICO will be announced in the first week of October. As always, I hope that my answer helped. Thank you! |
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Dear community, Kukumai, official Community Manager here. I'm sorry if it is already asked, but i just saw the video about utrust, "when making a transaction very little amount of utrust will be burned"
So regardless how little it is, in longterm if utrust gets mainstream that will make market run short of utrust tokens?
That is correct. We are burning up to 50 million tokens a year, until a maximum of 100 million are left. The whitepaper sounds really interesting to me. Compared to disruptive technologies like DAO concepts or decentralized escrow platforms, which are not yet ready for mainstream use in my opinion, the benefit of UTRUST is the straight focus on a business-oriented model. If everything will work out like planned the result should be users which use their cryptos without any fear, while providing merchant stability. What I also like is that the generated platform profits will be kept the UTRUST company for marketing purposes.
Thank you! Do you need to have the major cryptocurrencies deposited at your page, to provide the payment service. What happens if the blockchain of the chosen cryptocurrency is working slow.
Is than more time needed to approve the payment?
UTRUST will actually allow both, storing on the UTRUST chain as well as using your own wallets for which only you know the private keys. Basically, it will work as Paypal in crypto world. Right?
Are you guys planning to introduce some virtual or physical cards also?
Not planned at this time but we never know what the future holds! How much was the token price for pre ico investors rather what was the best break even for those investors? Just want to know what would be much pain for me as an investor to place buy orders for buying more after UTRUST will be added to exchanges.
$0.02 for private investors, $0.03 for pre-ICO investors. project is nice. are you going to allow US and china? is there KYC requirement to invest?
Unfortunately, the U.S. are excluded from our ICO. China can participate. is ICO still targeting first week of octo? do we have price per token info?
The announcement will be made in the first week of October, this does not imply that the ICO will also start in the first week. .2% is not a big deal but it's true that token burning will slowly rise the price. How do you plan to convince others to use the tokens and not fiat? Since holding the tokens - as you pointed out - will mean a huge profit. If I was about to buy something in eur or in utrusts I'd probably select the 1st just to keep the 2nd as an investing.
You would be wrong as we intend to burn up to a maximum of 50 million tokens a year. Meaning the perceived value of UTRUST tokens could 20x over 20 years, not accounting for global increase of the global market cap. Not making predictions here, but that is how it should work. I hope that I could help! |
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this looks like pre-ico with extra step. anyway, $10k is not that much, it will be done in a second the ico was open. The $10,000 is per investor, not a global cap. So if you wanted to invest up $5,000 or $10,000 in UTRUST, you would definitely get the 20% reward. |
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You mean registered at utrust.io? Or those who already bought at pre ico??
Registered with UTRUST.io before the 20th of September (GMT). |
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IMPORTANT ANNOUNCEMENT
Dear Community,
We really appreciate your enthusiasm and would like to thank all of you who believe in our mission to create the best blockchain payment platform in the world. For this reason, we are introducing the Early Supporter Reward.
To express our gratitude to our early supporters, anyone who is already registered, or who registers before the 20th of September 2017, will receive a 20% reward on the first $10,000 contributed per investor. For example, if you contribute $1,000, you will receive $1,200 worth of UTRUST tokens. This reward effectively reduces the price for early supporters down to $0.052 per token.
We want you to know that we value your love and support!
Nuno Correia
CEO & Co-Founder
UTRUST
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Hello! I did not find the information how it will be implemented mining? Proof of work or proof of stake ?
UTRUST is 100% pre-mined and will use Proof-of-Stake. |
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If you are going to change the structure of the ICO you need to offer refunds to those who have participated. I participated believing the structure was what it used to be, now you have changed it and it is not as good since it is worth only .065 instead of .085 at the end. Or, you could offer an extra bonus to the pre-ICO to make up for it. But bending over those who have already participated is not a good start.
Hi azmojo! We do not offer refunds at this point, but why would you like one in the first place? Pre-ICO investors are in a better position now that they were before. I personally invested into the UTRUST ICO as well and the average price will now be slightly higher than it would have been. Since only 100m would have been sold at 8.5 cents this would not have meant that the price on the exchanges is going to be 8.5 cents either. Very bad:
+ Pre ICO $0.03 but ICO $0.065.
Pre ICO investers will dump it.
You better keep ICO price from 0.04 ~ 0.08.
+ I read whitepaper, only idea, there is no working process.
I'll skip this ICO.
That'd be incorrect. While a small amount tokens (only 50 million) were sold at $0.03, the remaining 700m (!) will have a price of 6.5 cents. Even if some of the pre-ICO investors would sell it, it's a drop in the bucket ($1.5m into a bucket of $45.5m). I hope this clarifies things! |
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IMPORTANT ANNOUNCEMENTAt UTRUST our main goal is to build the best blockchain payment platform in the world. In line with this, we take feedback from both, our community, and legal regulatory counsel, very seriously. With this feedback in mind, we have decided to postpone the ICO date and to change the ICO structure in the interests of clarity and fairness to our investors.After careful consideration, we will no longer offer 7 rounds with different pricing levels. Instead, we will only offer 1 investment round at a fixed price of $0.065 per UTRUST token. A maximum of 50 Million U.S. Dollars will be collected over a maximum of 7 days, making this model end much faster than the original structure.Also, due to regulatory and legal advice, the UTRUST public ICO date has been temporarily postponed and the new date will be announced in the first week of October, together with exciting new information regarding advisors and confirmed exchanges.We thank you wholeheartedly for your support, and for believing in UTRUST! Please join our live-stream AMA Friday, 15th September at 1 PM GMT on Reddit. Instructions to access it will be on our website shortly. If you have any questions I am here to answer them on Bitcoin Talk, Reddit, Slack and Telegram. All the best, The UTRUST Team What will you do if people will stop invest money in further rounds with increased price?
ie: if round 3 of 7 wasn't sold out already.. will you just increase the price and start empty round 4 or there is another plan?
I guess the above announcement answers your question? 👍
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To shed a little bit of light on UTRUST and myself: - I am not working for bounties.
- I have invested into UTRUST before I was a part of the team (pre-ICO).
- I am a web developer designer / IT professional for over 10 years.
- Accepting cryptocurrency payments is a real struggle, even with Coinbase, BitPay and others.
- Solving this issue is not easy, but UTRUST has a very viable plan.
- The team, unlike other ICOs, is driven by 15 (!) engineers.
- UTRUST is ahead of schedule and will likely offer an alpha before the roadmap suggests.
I am unsure why Yury1 seems to be on a personal vendetta against our project, but I can assure you that this is not an unrealizable idea. The team is extraordinarily capable and we are all working towards one shared goal: making cryptocurrencies actually useful to the average consumer. It stands to reason that, indeed, most ICOs do not have a working prototype and unlike UTRUST they are, more often than not, not driven by engineers. I cannot put enough emphasis on this very fact, that a team of 15 engineers is more than most other ICOs have. I hope this helps. |
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In the newest whitepaper there is information about the break between ICO rounds.
"in the worst-case scenario, the total duration will be of 55 days (with each one of the 7 rounds closing in 7 days, plus the 24 hours in between)"
I understand that this is an outdated information and ICO will take place without this break.
This is correct and we will update this shortly. |
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for real? what a big amount for a certain activity before the ico kicks off.. well im sure, with that certain amount, means many trusted the project, by the time ico opens, it will definitely flood investors.
Yes, we are being trusted which we very much appreciate. We are using the existing funds to run our extensive marketing campaigns, too. Hope this helps! |
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