[ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets

[LykkeX]

Win 50 CHF Every Day During the Lykke Crowdsale

https://lykke.com/city/blog/2016-09-13/twitter_contest

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[LykkeX]

hello I sent you a PM but did not get an answer yet @lykkeX.

The android app is not sending the text message to my phone to finish the activation.

I have a xiaomi redmi 3 pro

Please contact support@lykke.com  Will raise the issue internally again to solve this.

[LykkeX]

"The Big Twitter Prize

At the end of our crowdsale, we will take all the tweets from Sept 14 to Oct 10 and draw three randomly. Each of the three will receive 10,000 Lykke coins, or $520 in value. Again, you must register to use the Lykke wallet to qulalify, and you may not be a US citizen or Lykke employee."

[cryptico]

hello I sent you a PM but did not get an answer yet @lykkeX.

The android app is not sending the text message to my phone to finish the activation.

I have a xiaomi redmi 3 pro

Please contact support@lykke.com  Will raise the issue internally again to solve this.

ok thx...well it just worked now

[jupiter00000]

Win 50 CHF Every Day During the Lykke Crowdsale

https://lykke.com/city/blog/2016-09-13/twitter_contest

Who was yesterday's winner?

[wavespump]

Win 50 CHF Every Day During the Lykke Crowdsale

https://lykke.com/city/blog/2016-09-13/twitter_contest

So little, what's the ico price for your coins? Any more bounties?

[Geenstijl]

I've been doin some research on the Lykke team members. These kind of qualifications are seriously rare in the world of crypto. Haven't seen such qualified team since the launch of Stellar and Ripple. 100% experienced and reputation in the sector that is being adressed. Really promising.

[titan20]

Thanks for the answer.

Can you also tell something about third party risks?

For example: if i deposit euro's with you. Where are the euro's stored? is it in accounts of banks with whom you cooperate or are you yourself a bank?

What if you go bankrupt. To whom belongs the currencies and assets?
 

Good questions. Euro's are stored in the bank account (you should see banking details in the app. they might change, but we're now with one bank who takes Cryptocurrency business). In case of bankruptcy Swiss Law would apply. Lykke will not acquire banking license, but is already in the process of becoming licensed payment institute for e- and fiat money. I'm not familiar with all details. It is also changing rapidly, as there are not only the employees but a growing network of people with a lot of activity (last but not least the opensource code).

I am interested and want to ask a few more question.
As i understand fiat currencies are in bankaccounts with whom you cooperate. I suppose you can trade fiat against fiat. fiat against cryptocurrencies and crypto against crypto.

1. Are the cryptocurrencies held by you (like the traditionale cryptocurrencies like poloniex) or are they held by the users?

100 Coins are equal to 1 share in the company.

2. Are the coinholders really shareholders in a legal way, or is it just some kind of promise in revenuesharing?
3. Will there be dividend payouts to coinholders?

You expect 1 billion USD daily trading volume.

4. What is the expected spread earning on this kind of volume?
5. How will the dividend regime look like (how much of the profit will go to dividends)?

There is only a mobile app.
6. Are consumers your first target group? what about companies? They are not going to trade on a mobile app.

I think the project is great. Depending on the answers on the above questions it could also be a great investment.

Cheers!   

[jupiter00000]

I've been doin some research on the Lykke team members. These kind of qualifications are seriously rare in the world of crypto. Haven't seen such qualified team since the launch of Stellar and Ripple. 100% experienced and reputation in the sector that is being adressed. Really promising.

When I saw the founder's book about high frequency trading on Amazon - and the economic professors reviews of the book - that was when I bought equity in Lykke.

These aren't the 20 somethings posers that are normal in blockchain development.

[Ondin]

Lykke 8,226,520 COINS BOUGHT ..... hurry up guys! 

[LykkeX]

Team video https://www.youtube.com/watch?v=P2LqZcTndMM

[LykkeX]

1. Are the cryptocurrencies held by you (like the traditionale cryptocurrencies like poloniex) or are they held by the users?

Multi-sig. Further description here: https://lykke.com/city/blog/2016-07-14/lykkemultisignaturewallets

100 Coins are equal to 1 share in the company.

2. Are the coinholders really shareholders in a legal way, or is it just some kind of promise in revenuesharing?

It would be great to register all coinholders as shareholders. Edit: I will forward the question to people who are more qualified to answer this.

3. Will there be dividend payouts to coinholders?

From placement memo "7. Distribution of Dividends
Since the incorporation of the Company, no dividends have been distributed yet to the shareholders. During the initial growth phase of the Company, we do not expect to pay dividends."

4. What is the expected spread earning on this kind of volume?

1-2 basispoints in FX. Certainly not much more. The key challenge for that is blockchain scaling itself.

5. How will the dividend regime look like (how much of the profit will go to dividends)?

see above

There is only a mobile app.

6. Are consumers your first target group? what about companies? They are not going to trade on a mobile app.

Retail traders yes. Web-terminal is already in the works.

[DaddyH]

As this wallet clearly doesn't work on S7 and or Android 5.1.1. I'm uninstalling and leaving this currency alone.

[sulec70]

I test on my smartphone,
How to see LYKEE Address?
when click the DEPOSITE button does not work

[LykkeX]

As this wallet clearly doesn't work on S7 and or Android 5.1.1. I'm uninstalling and leaving this currency alone.

You can always contact support. Can't confirm that Android is not working and we can't handle a bug request without further information.

[Geenstijl]

As this wallet clearly doesn't work on S7 and or Android 5.1.1. I'm uninstalling and leaving this currency alone.

I am using a Galaxy S7 Android 6.0.1 and the app is working superb. The currency prices are streaming in real-time.

[someone111]

Why is Lykke team restricting potential investors into this project by only allowing only mobile users to participate in the ICO, there is no wallet for windows, I won't use mobile device for my token because it was shown that 95% of all apps on android platform are vulnerable to attack. I think they should use online wallet for other to be able to participate in their ICO.

Could you specify those attack vectors? It is correct that focus is on mobile first, then desktop. You might want to check again later when the webterminal is out.

OEM devices (most common type) of android are ridiculously insecure.
- even if vulnerabilities are fixed in google android, OEMS such as Samsung will for most devices not deploy the updates
- only flagship devices receive updates for a limited amount of time
- this also goes for browser exploits, kernel exploits, famous heartbleed

For start...

http://www.extremetech.com/mobile/197346-google-throws-nearly-a-billion-android-users-under-the-bus-refuses-to-patch-os-vulnerability

http://betanews.com/2016/01/19/linux-vulnerability-puts-millions-of-people-at-risk-android-users-should-panic/

Please make it possible to invest on a desktop, because android wallets can hardly be secure!

[mtnsaa]

Zero exposure, pegged ICO, already overvalued = raising 300k usd in a few days ?
i smell self bought ico scam. 

Overvalued at 8k...go buy some more Waves.

And please do some research first before throwing scam accusations.

[jupiter00000]

As this wallet clearly doesn't work on S7 and or Android 5.1.1. I'm uninstalling and leaving this currency alone.

Works fine on mine. Too bad.

[jupiter00000]

Zero exposure, pegged ICO, already overvalued = raising 300k usd in a few days ?
i smell self bought ico scam. 

Overvalued at 8k...go buy some more Waves.

And please do some research first before throwing scam accusations.

Waves lol.  You called it on that one. Biggest ICO flop ever - from people who have no experience in what they intend to create.

Thats not the case with Lykke.