[Index] First tradable cryptocurrency market Index.

[sasha35625]

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Official thread
Bitcointalk thread
info@coinoindex.com
Trade CoinoIndex at Poloniex.com

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Coinoindex reflects the average price of top 20 cryptocurrencies relative to Bitcoin price. This is an analogue of Dow-Jones index applied to cryptocurrencies.
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Coinoindex is the "average temperature" of alternative cryptocurrency market.  It seems very probable that altcoins will take more market share from Bitcoin in near future, so the Index value should grow.
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Yes, you can invest in it using NXT Asset Exchange and Poloniex exchange: https://poloniex.com/exchange#btc_index
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Altcoins markets are very volatile, you can win a lot by picking the right coin but you can lose a lot too. Coinoindex project enables you to diversify your investment, and have a return which is comparable to return you get investing in successful stocks. You don't invest in a certain coin when you trade Index, you invest in altcoin marketitself.

You can invest in the Index the same way you can invest in a mutual Index fund. Besides Poloniex exchange you can do it at Distributed Distributed NXT Asset Exchange or at SecureAE for BTC.
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• Top twenty largest by capitalization alternative cryptocurrencies are selected. The trading volume for each one of them should exceed $1,000 each day during the last 14 days. The coin should be traded at at least three exchanges. Also "pegged" cryptocurrencies (which track the value of USD or CNY) are not taken into account. Index value tracks the change in price of the portfolio composed of the selected cryptocurrencies. Each currency has the same weight in the overall portfolio.

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• Pump-and-Dump rule: Coins which enter the top 20 with 300% and more price growth during two previous weeks are included in the Index. But a stop-loss order is set at the enry price in order to limit the downside price movement risk.

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• The initial Index value is 1000. Current Index value is re-calculated every minute using cryptocurrencies price updates.

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• The portfolio is updated once a week, based on the current market capitalization.

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• Related NXT asset is fully backed by portfolio cryptocurrencies. Escrow is provided by Poloniex.com staff.

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Litecoin
Dash
NXT
Dogecoin
Mintcoin
Bytecoin
BlackCoin
Bitcoindark
BitShares
Monacoin
Primecoin
Namecoin
Peercoin
Startcoin
Stellar
Digitalnote
Vertcoin
Counterparty
Monero
Ripple
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Coinoindex.com

[rocoloko]

Is this coin?

If not, How can i hold my investment safely? (hope not just on Poloniex)

What is the distribution model? (who owns all shares now?)

btw interesting concept

[2bacco]

The Current Composition, has 7 coins in it, repeated:


1- Litecoin
2- Dash
3- NXT
4- Dogecoin
5- Mintcoin
6- Bytecoin
7- BlackCoin
(and those 7 then repeat twice below? but the start of your post says there will be 20 coins?)

Litecoin
Dash
NXT
Dogecoin
Mintcoin
Bytecoin
BlackCoin
Litecoin
Dash
NXT
Dogecoin
Mintcoin
Bytecoin
BlackCoin

[Odd Thomas]

The Current Composition, has 7 coins in it, repeated:

Was an error in the OP. There are 20 coins listed here http://coinoindex.com/

Litecoin
Dash
NXT
Dogecoin
Mintcoin
Bytecoin
BlackCoin
Bitcoindark
BitShares
Monacoin
Primecoin
Namecoin
Peercoin
Startcoin
Stellar
Digitalnote
Vertcoin
Counterparty
Monero
Ripple

Good choices and this is a long overdue thing.

[InceptionCoin]

 So, CoinoIndex is coin-backed meta-asset: each Index is actually X Litecoin, Y Dash, Z NXT and so on. It's good idea, but we need guarantees:
1) please provide asset page where i can find number of tokens already in circulation
2) please provide more info on index, make it transparent how much Litecoin, Dash, NXT ... contained in one INDEX
3) please provide proofs from poloniex that they have this coins controlled. 2-of-2 multysig (one from you and one from poloniex) with statement from poloniex that they controll second privkey will be best.
4) Who control the NXT asset? We need guarantees that you cant just create zillion asset tokens without backed funds and dump it to the market.

[sasha35625]

Is this coin?

If not, How can i hold my investment safely? (hope not just on Poloniex)

What is the distribution model? (who owns all shares now?)

btw interesting concept

It is an asset, that is a blockchain token. You can hold it 100% secure by storing it in your NXT client (provided you take good care of your password of course)

Most of the shares are in escrow provided by Poloniex staff.

[sasha35625]

The Current Composition, has 7 coins in it, repeated:


1- Litecoin
2- Dash
3- NXT
4- Dogecoin
5- Mintcoin
6- Bytecoin
7- BlackCoin
(and those 7 then repeat twice below? but the start of your post says there will be 20 coins?)

Litecoin
Dash
NXT
Dogecoin
Mintcoin
Bytecoin
BlackCoin
Litecoin
Dash
NXT
Dogecoin
Mintcoin
Bytecoin
BlackCoin

Apologies. Fixed now.

[sasha35625]

So, CoinoIndex is coin-backed meta-asset: each Index is actually X Litecoin, Y Dash, Z NXT and so on. It's good idea, but we need guarantees:
1) please provide asset page where i can find number of tokens already in circulation
2) please provide more info on index, make it transparent how much Litecoin, Dash, NXT ... contained in one INDEX
3) please provide proofs from poloniex that they have this coins controlled. 2-of-2 multysig (one from you and one from poloniex) with statement from poloniex that they controll second privkey will be best.
4) Who control the NXT asset? We need guarantees that you cant just create zillion asset tokens without backed funds and dump it to the market.

Please check coinmarketcap listing: http://coinmarketcap.com/assets/coinoindex/
Coins are held in equal proportions now. As for the proof of reserve - currently Poloniex is working on public API call which will provide the coin balances in our account.  Eventually we will move to a transparent cryptographic proof of reserve.
Most of the issue is escrowed. All asset moves are transparent, so investors can control the total outstanding asset amount.

[sasha35625]

It is chosen according to current trading volumes and coinmarketcap, the idea is to make the choice completely transparent

The Current Composition, has 7 coins in it, repeated:

Was an error in the OP. There are 20 coins listed here http://coinoindex.com/

Litecoin
Dash
NXT
Dogecoin
Mintcoin
Bytecoin
BlackCoin
Bitcoindark
BitShares
Monacoin
Primecoin
Namecoin
Peercoin
Startcoin
Stellar
Digitalnote
Vertcoin
Counterparty
Monero
Ripple

Good choices and this is a long overdue thing.

[sasha35625]

Ethereum and GameCredits are the new entries this week

[BlackPanda]

do you have YOVI coin ?

I have pretty much Yovi coin, but it is very difficult to find a buyer in exchange only .. very unlucky

[marcos19]

Ethereum and GameCredits are the new entries this week

I would like to know more details about the price levels of each and every buy.

Furthermore some details when exactly the top 20 is refreshed.

Basically I want every transaction transparent and open to the public.

[fsb4000]

Why such a big difference between the real price and the indicated on the site?
0.45BTC and 1.099BTC?

[fitinplace]

Will you add Triangles?  triangles.technology

ty for your consideration 

[gilangIDR]

coinoindex is an investment that combines 20 coins crypto currency? I just know that if true

[sasha35625]

Yes, exactly. This is top 20 coins combined in one.

[tyz]

Okay, three questions: Does it mean that it is like an ETF (exchange traded fund)? If so, are the coins of the index replicated only or do you really own the coins? Last but not least, are the coin weighted equally?

[sasha35625]

Okay, three questions: Does it mean that it is like an ETF (exchange traded fund)? If so, are the coins of the index replicated only or do you really own the coins? Last but not least, are the coin weighted equally?

yes, this is ETF for cryptocurrencies, exactly. So the index is backed by real coins, which enter the index equally at the index launch, each one had 5% share. Then their price fluctuates, so a coin can have weigh more or less than average. Also if a coin drops from top 20 it is sold and a new coin is bought.

[tyz]

Sounds great! i had the same idea some time ago.
i would weight the coins based on their volatility. Coins with less volatility should be weighted more. That would be the ETF more stability in a instability cryptocurrency world 

Okay, three questions: Does it mean that it is like an ETF (exchange traded fund)? If so, are the coins of the index replicated only or do you really own the coins? Last but not least, are the coin weighted equally?

yes, this is ETF for cryptocurrencies, exactly. So the index is backed by real coins, which enter the index equally at the index launch, each one had 5% share. Then their price fluctuates, so a coin can have weigh more or less than average. Also if a coin drops from top 20 it is sold and a new coin is bought.

[marcos19]

Why such a big difference between the real price and the indicated on the site?
0.45BTC and 1.099BTC?
https://i.imgur.com/amdoXI8.png

I would like to know the same.