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LykkeX (OP)
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September 14, 2016, 11:53:14 AM |
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Nice, the first day : 2,280,099 Lykke coins bought, 114,005 CHF raised
good work!
It has broken the counter or ended purchases?  I believe it is updated once a day. Checking - thanks. Edit: yes, once per day. |
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tempus
Legendary
 Offline
Activity: 1960
Merit: 1128
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September 14, 2016, 11:53:24 AM |
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What I would like to know is: How dependent is Lykke on Bitcoin? I ask because I always think that it's possible that Bitcoin might lose his leading position in years or, worse, maybe even hard fork into two like Ethereum did. Could Lykke use theoretically any other Blockchain?
And what exactly is the business-model? Or more directly: How to make money?
By the way: First when I saw this I thought it may could be a perfect fit with Factom.
The team is actively looking into Ethereum, as per the business plan. Yes, in theory any chain that supports issued assets could do. Openasset and Bitcoin decision was made at the very beginning, and integration takes time, so its not a goal to support any chain. Business model is stated above as earning money on the spread, not commissions. Lykke can act as a market-maker. This part is also under very active development. You should find more documents on the website. If not, it will be good to have more questions in this direction - I'll forward them to the experts on the team. See this academic paper, e.g. https://lykke.com/city/_media/golubdupuisolsen.pdfFactom - not currently under consideration but thanks for the suggestion. Publishing prices on a blockchain makes sense. Okay, thank you very much for the quick reply! I will look deeper into it! |
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WorldCoiner
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September 14, 2016, 12:14:16 PM |
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Will Blog about this today.
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LykkeX (OP)
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September 14, 2016, 12:34:15 PM |
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WorldCoiner
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September 14, 2016, 12:36:20 PM |
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Yeah, I know David since some years. Didn't he left Switzerland to move to London? But anyway a great guy. And Nick Szabo in the Advisory Board as well. |
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ICOcountdown.com
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September 14, 2016, 12:36:47 PM |
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Can we convert coinprism tokens to the platform? |
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LykkeX (OP)
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September 14, 2016, 01:02:31 PM |
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Can we convert coinprism tokens to the platform? In principle any ColoredCoin as Openasset can be supported. Lykke depends on the notion of "issuers". There will likely be different kinds of issuers, but ultimately these will be different kinds of financial institutions or intermediaries. So listings are vetted to some extent. Lykke is the ideal project to find these partners. Some project which just allows any issued coin might have it difficult to convince those stakeholders. We have a pro AML and regulatory framework. Some of the ICO founds will go to acquiring broker/dealer licenses in several countries. The team had extensive discussions with regulators across many jurisdictions and has acquired its first license. Also, UK company is registered for our UK Operations https://beta.companieshouse.gov.uk/company/10373716 I encourage anyone to ask questions, compile information and become involved. All software and knowledge is opensource. |
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koYnsta
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September 14, 2016, 03:21:47 PM |
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Hi, did install the wallet and it works really smoothly  my question: - where are the funds actually stored? in the blockchain or local in some kind of wallet.dat? I mean in case the phone gets lost or defect, does installing the wallet on a new phone and login with my initial email-address and password recover the funds? cheers |
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tempus
Legendary
Offline
Activity: 1960
Merit: 1128
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September 14, 2016, 03:29:23 PM |
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Hi, did install the wallet and it works really smoothly my question: - where are the funds actually stored? in the blockchain or local in some kind of wallet.dat? I mean in case the phone gets lost or defect, does installing the wallet on a new phone and login with my initial email-address and password recover the funds? cheers You had to write down the backup-key: 12 words. With that you can restore the wallet if your phone should be damaged or something like that. |
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koYnsta
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September 14, 2016, 03:40:02 PM |
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Hi, did install the wallet and it works really smoothly my question: - where are the funds actually stored? in the blockchain or local in some kind of wallet.dat? I mean in case the phone gets lost or defect, does installing the wallet on a new phone and login with my initial email-address and password recover the funds? cheers You had to write down the backup-key: 12 words. With that you can restore the wallet if your phone should be damaged or something like that. interesting, during the installation process I was never asked for a back-up key neither was any key displayed to write down...  only password (one single word) and PIN had to be defined. |
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tempus
Legendary
Offline
Activity: 1960
Merit: 1128
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September 14, 2016, 03:47:20 PM |
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Hi, did install the wallet and it works really smoothly my question: - where are the funds actually stored? in the blockchain or local in some kind of wallet.dat? I mean in case the phone gets lost or defect, does installing the wallet on a new phone and login with my initial email-address and password recover the funds? cheers You had to write down the backup-key: 12 words. With that you can restore the wallet if your phone should be damaged or something like that. interesting, during the installation process I was never asked for a back-up key neither was any key displayed to write down... only password (one single word) and PIN had to be defined. IOS or Android? I'm on IOS. But what I don't remember is if it was mandatory or it's possible to skip that. If that should be possible, maybe you just didn't see and skipped it kind of inadvertently...? |
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koYnsta
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September 14, 2016, 03:59:07 PM |
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Hi, did install the wallet and it works really smoothly my question: - where are the funds actually stored? in the blockchain or local in some kind of wallet.dat? I mean in case the phone gets lost or defect, does installing the wallet on a new phone and login with my initial email-address and password recover the funds? cheers You had to write down the backup-key: 12 words. With that you can restore the wallet if your phone should be damaged or something like that. interesting, during the installation process I was never asked for a back-up key neither was any key displayed to write down... only password (one single word) and PIN had to be defined. IOS or Android? I'm on IOS. But what I don't remember is if it was mandatory or it's possible to skip that. If that should be possible, maybe you just didn't see and skipped it kind of inadvertently...? I am using Android. hmm, in case I inadvertently skipped it then it's a bad "feature" that this is even possible as it makes absolutely no sense to skip that option. |
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LykkeX (OP)
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September 14, 2016, 04:23:38 PM |
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Hi, did install the wallet and it works really smoothly my question: - where are the funds actually stored? in the blockchain or local in some kind of wallet.dat? I mean in case the phone gets lost or defect, does installing the wallet on a new phone and login with my initial email-address and password recover the funds? cheers Here is a blog post about the scheme: https://lykke.com/city/blog/2016-07-14/lykkemultisignaturewalletsWe probably need a FAQ for this, let me get back to you on that. |
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LykkeX (OP)
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September 14, 2016, 05:21:51 PM |
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Response from our CTO
"Both bitcoins and colored coins are stored on the multisig bitcoin address.
Private key is stored on the client's side. The only way to recover BTC funds is to use 12 words seed backup. Backup and recovery private key functions will be available both on android and iphone LykkeWallet app shortly."
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vlight
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September 14, 2016, 05:52:06 PM |
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The only way to buy Lykke is through the app? |
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LykkeX (OP)
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September 14, 2016, 07:03:36 PM |
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The only way to buy Lykke is through the app? Why not? Lykke is a ColoredCoin on top of Bitcoin, not a native blockchain currency. More information on : https://en.bitcoin.it/wiki/Colored_Coins |
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LykkeX (OP)
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September 14, 2016, 07:08:30 PM |
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day 2: 277,069 CHF total raised
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dunchy
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September 14, 2016, 07:12:50 PM |
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Will someone be so kind to explain me just how this thing went from 0.005CHF to 0.05 CHF in 24 hours without being traded anywhere?!??? Don't tell me the issuer just woke up today with a nice hard-on after a good 24h ico start and just put up a 10x the initial price |
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