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

[andreiyy12]

Will this be traded on big exchanges like Bittrex or Poloniex ? Or just on their own exchange ?

No plans to list on other exchanges.

I was looking to invest into this. Why not ??

[luzamarino]

BTW Tempus thanks for your previous answers.

How will coin holders be rewarded ? I ask because I think I have seen a place where it states  coins are similar to stocks , are we therefore shareholders and if so do we "own" a share in all Lykke Ventures listed on your web ?
Will Lykke coins be used in all other ventures ?

[LykkeX]

Must go through SEC approval process. Anyone have a prognosis on this?

Yes, that's in process (target is circa mid next year I believe). Note license for Asian market has already been successfully obtained. More short-term focus is the UK MTF license. Also other licensing is in progress. Banking partnership in Liechtenstein is also secured (fiat options are available today).

[LykkeX]

Will this be traded on big exchanges like Bittrex or Poloniex ? Or just on their own exchange ?

No plans to list on other exchanges.

I was looking to invest into this. Why not ??

LKK can be traded on Lykke exchange. Lykke is first and foremost an exchange and other exchanges are rather competitors. Also the commissions are zero anyway, and liquidity will be highest on Lykke, so there is little reason to pursue those listings.

[tempus]

Will this be traded on big exchanges like Bittrex or Poloniex ? Or just on their own exchange ?

No plans to list on other exchanges.

I was looking to invest into this. Why not ??

You shouldn't see Lykke just through the typical Crypto-filter. It's true that if we think about usual ICO's of Crypto-projects one of the most important questions is: When will it launch and will it be on Poloniex soon?

But: Lykke is not about a coin. LKK represent shares of a semi-decentralized exchange. Out of their (Lykke-team) perspective it would be kind of weird to develop this project and to ask other exchanges if they would add LKK.

Plus: This exchange is not just about Crypto but also about FIAT and forex-trading and it's focus very well may be digital assets - colored coins. My impression is that many still don't understand the potential of that. And nobody can promise you the success of Lykke but all signs I know of are on green, especially because of the very skilled team of experts. Under the line I believe: Projects like this, and I hope it will be this, have more potential as exchanges like Bittrex or even Poloniex.

With other words: The decision if to invest in this or not is not about the question if LKK will trade on Bittrex or Poloniex. It is about the question if you see potential in Lykke as exchange or not.

[andreiyy12]

here exist  1,285,690,000 Lykke coins (LKK). 100 coins represent 1 share in the legal entity. Lykke AG is based in Zurich Switzerland.

So if I Invest 1 BTC in this how many Lykke coins will I get ? It shows me that I will get 12k LKK. is that not too expensive

[Johnny00]

here exist  1,285,690,000 Lykke coins (LKK). 100 coins represent 1 share in the legal entity. Lykke AG is based in Zurich Switzerland.

So if I Invest 1 BTC in this how many Lykke coins will I get ? It shows me that I will get 12k LKK. is that not too expensive

Almost paying $5 a share. But float only 12 million shares right now and can dilute. It's cool you can sell partial sales . Wonder how dividends will be paid then

[tempus]

here exist  1,285,690,000 Lykke coins (LKK). 100 coins represent 1 share in the legal entity. Lykke AG is based in Zurich Switzerland.

So if I Invest 1 BTC in this how many Lykke coins will I get ? It shows me that I will get 12k LKK. is that not too expensive

The total valuation of Lykke is about $ 66 m.

If that is expensive or cheap - it's impossible to say that and nobody else can decide for you. What an Investor buys is future potential like always.

But I can tell you my personal view on Lykke in comparison to other ICO's.

Not sure if you've heard about Augur: https://www.augur.net
It is about a prediction-market-platform. The ICO price was at about $0.53 if my information-source is correct. Right now it trades at $7 and a marketcap of > $70 m.

And I don't know much about that project but as far as I know it is more about a promise yet. In my opinion it is a hype. Maybe one with potential but I don't see much to say "yeah nice price, it should be above $70 m!"

Lykke is already there. It is a working exchange. There is proof that they are able to build user-friendly applications and there is already proof that they are very fast in development. If LKK already would trade on an exchange since months, the price would have exploded with the release of their App. I'm sure about that because that is how Crypto-markets react. The market also would react on every word of Richard Olsen, a man who has much experience as founder and CEO (Oanda - forex trading). Even more it will be about the expertise and connections of him and his team in all kind of important areas.

If I try to find weaknesses I see only one until now: A lack of attention. But I also know that they see this ICO just as a first step into the public. It's not even that much about money. If I try to find reasons why this should fail - not be used, I really find nothing. Because: Even those who don't want to invest and even more those who don't know about Lykke at all, will find interesting what this platform will offer. Everybody can use it for free - zero fee. And nobody needs to store his money on an exchange and live in fear of hacks etc.

There are so many incentives while they are very good in removing barriers that I have no doubt that it will be used. And when that starts it's nearly a safe prediction that it will grow and grow and grow. And in my opinion it's about two main-aspects:

1. Access for everyone - userfriendly (still very rare in Crypto)
2. Security - people want to feel safe and that is very hard in Crypto and beyond

And that's why I invest. I see as "proof-of-abilities" what already is delivered. But what I buy is the potential I believe to see. And while nothing is without risk, this is unlikely to fail if I compare it with other projects that want the same while Lykke is superior on all fronts I know of.

[andreiyy12]

here exist  1,285,690,000 Lykke coins (LKK). 100 coins represent 1 share in the legal entity. Lykke AG is based in Zurich Switzerland.

So if I Invest 1 BTC in this how many Lykke coins will I get ? It shows me that I will get 12k LKK. is that not too expensive

The total valuation of Lykke is about $ 66 m.

If that is expensive or cheap - it's impossible to say that and nobody else can decide for you. What an Investor buys is future potential like always.

But I can tell you my personal view on Lykke in comparison to other ICO's.

Not sure if you've heard about Augur: https://www.augur.net
It is about a prediction-market-platform. The ICO price was at about $0.53 if my information-source is correct. Right now it trades at $7 and a marketcap of > $70 m.

And I don't know much about that project but as far as I know it is more about a promise yet. In my opinion it is a hype. Maybe one with potential but I don't see much to say "yeah nice price, it should be above $70 m!"

Lykke is already there. It is a working exchange. There is proof that they are able to build user-friendly applications and there is already proof that they are very fast in development. If LKK already would trade on an exchange since months, the price would have exploded with the release of their App. I'm sure about that because that is how Crypto-markets react. The market also would react on every word of Richard Olsen, a man who has much experience as founder and CEO (Oanda - forex trading). Even more it will be about the expertise and connections of him and his team in all kind of important areas.

If I try to find weaknesses I see only one until now: A lack of attention. But I also know that they see this ICO just as a first step into the public. It's not even that much about money. If I try to find reasons why this should fail - not be used, I really find nothing. Because: Even those who don't want to invest and even more those who don't know about Lykke at all, will find interesting what this platform will offer. Everybody can use it for free - zero fee. And nobody needs to store his money on an exchange and live in fear of hacks etc.

There are so many incentives while they are very good in removing barriers that I have no doubt that it will be used. And when that starts it's nearly a safe prediction that it will grow and grow and grow. And in my opinion it's about two main-aspects:

1. Access for everyone - userfriendly (still very rare in Crypto)
2. Security - people want to feel safe and that is very hard in Crypto and beyond

And that's why I invest. I see as "proof-of-abilities" what already is delivered. But what I buy is the potential I believe to see. And while nothing is without risk, this is unlikely to fail if I compare it with other projects that want the same while Lykke is superior on all fronts I know of.

Thank you very much for this input. I will definitely look into this more before I invest anything. It looks very good I've installed the exchange and wow. If this works It could go worldwide as really big. Especially if margin trading will be available. I can't wait for this to come out . Will be a rocket launch

Do you know if they will have a website too ? Android and Ios app is probably why this ICO has not reached their goal yet.
Also can this LKK be mined ? as 1.2B coins is quiet a lot and will be interested in mining these coins.

Thanks.

[tempus]

here exist  1,285,690,000 Lykke coins (LKK). 100 coins represent 1 share in the legal entity. Lykke AG is based in Zurich Switzerland.

So if I Invest 1 BTC in this how many Lykke coins will I get ? It shows me that I will get 12k LKK. is that not too expensive

The total valuation of Lykke is about $ 66 m.

If that is expensive or cheap - it's impossible to say that and nobody else can decide for you. What an Investor buys is future potential like always.

But I can tell you my personal view on Lykke in comparison to other ICO's.

Not sure if you've heard about Augur: https://www.augur.net
It is about a prediction-market-platform. The ICO price was at about $0.53 if my information-source is correct. Right now it trades at $7 and a marketcap of > $70 m.

And I don't know much about that project but as far as I know it is more about a promise yet. In my opinion it is a hype. Maybe one with potential but I don't see much to say "yeah nice price, it should be above $70 m!"

Lykke is already there. It is a working exchange. There is proof that they are able to build user-friendly applications and there is already proof that they are very fast in development. If LKK already would trade on an exchange since months, the price would have exploded with the release of their App. I'm sure about that because that is how Crypto-markets react. The market also would react on every word of Richard Olsen, a man who has much experience as founder and CEO (Oanda - forex trading). Even more it will be about the expertise and connections of him and his team in all kind of important areas.

If I try to find weaknesses I see only one until now: A lack of attention. But I also know that they see this ICO just as a first step into the public. It's not even that much about money. If I try to find reasons why this should fail - not be used, I really find nothing. Because: Even those who don't want to invest and even more those who don't know about Lykke at all, will find interesting what this platform will offer. Everybody can use it for free - zero fee. And nobody needs to store his money on an exchange and live in fear of hacks etc.

There are so many incentives while they are very good in removing barriers that I have no doubt that it will be used. And when that starts it's nearly a safe prediction that it will grow and grow and grow. And in my opinion it's about two main-aspects:

1. Access for everyone - userfriendly (still very rare in Crypto)
2. Security - people want to feel safe and that is very hard in Crypto and beyond

And that's why I invest. I see as "proof-of-abilities" what already is delivered. But what I buy is the potential I believe to see. And while nothing is without risk, this is unlikely to fail if I compare it with other projects that want the same while Lykke is superior on all fronts I know of.

Thank you very much for this input. I will definitely look into this more before I invest anything. It looks very good I've installed the exchange and wow. If this works It could go worldwide as really big. Especially if margin trading will be available. I can't wait for this to come out . Will be a rocket launch

Do you know if they will have a website too ? Android and Ios app is probably why this ICO has not reached their goal yet.
Also can this LKK be mined ? as 1.2B coins is quiet a lot and will be interested in mining these coins.

Thanks.

It seems, you've made the same experience like myself with the App. I was interested but not very pleased that the ICO would be about an APP since I don't like it to do things on my phone. But after installing it I also thought "wow!". I really like user-friendly applications because I know that it's not easy to improve complexity into something that everybody can use.

1) Margin Trading: is already on their 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)


2) Yes, there will be a web-based terminal while the private key will stay on the phone. It will also be possible to generate keys offline to be secure.


3) No, LKK can't be mined. It's not a typical altcoin as cryptocurrency. In my opinion it's much better: LKK --> shares of the company. If successful they will pay dividends.

Btw, if you want to know more this is very good:

Lykke ICO FAQ
https://lykke.com/city/blog/2016-10-05/lykke_ico_faq

[marilyngroom]

Interesting concept. Though I'm so confused as to how it works. Trade anything? Trade other coins?

[kaconk]

Interesting concept. Though I'm so confused as to how it works. Trade anything? Trade other coins?

read previous post or back to page one (OP).

or visit here :

https://lykke.com/city/blog/2016-10-05/lykke_ico_faq
https://lykke.com
ico.lykke.com
http://lykke.world/
etc...

[tempus]

Interesting concept. Though I'm so confused as to how it works. Trade anything? Trade other coins?

The most interesting part in my opinion will be colored coins, because that concept makes it possible to get real-world value on the blockchain and that can be traded against anything else:

"The term "Colored Coins" loosely describes a class of methods for representing and managing real world assets on top of the Bitcoin Blockchain."
https://en.bitcoin.it/wiki/Colored_Coins


It also can be about what is called "industrial currency":

I wrote a longer post about Lykke and IATA here: https://bitcointalk.org/index.php?topic=1402110.msg16343712#msg16343712


But it will also be about forex-trading and Crypto-Currencies like Bitcoin and Ethereum. I doubt that Lykke aims to list a lot of Crypto-currencies like we know it from Poloniex. But most likely they will add those that are most wanted.


When it's about "how it works", this overview gives a good first insight:




More infos can be found here:

https://lykke.com/technology.php
https://lykke.com/city/colored_coin_exchange_white_paper

[luzamarino]

How will coin holders be rewarded ? I ask because I think I have seen a place where it states  coins are similar to stocks , are we therefore shareholders and if so do we "own" a share in all Lykke Ventures listed on your web ?
Will Lykke coins be used in all other ventures ?

[LykkeX]

How will coin holders be rewarded ? I ask because I think I have seen a place where it states  coins are similar to stocks , are we therefore shareholders and if so do we "own" a share in all Lykke Ventures listed on your web ?
Will Lykke coins be used in all other ventures ?

Increase in value and dividends (which are not planned in the near term). The competition platform can also be used for rewards of contributions.

[luzamarino]

How will coin holders be rewarded ? I ask because I think I have seen a place where it states  coins are similar to stocks , are we therefore shareholders and if so do we "own" a share in all Lykke Ventures listed on your web ?
Will Lykke coins be used in all other ventures ?

Increase in value and dividends (which are not planned in the near term). The competition platform can also be used for rewards of contributions.

I'm interested in dividends, any ideas as yet ? I know it's early days.
Any details on the reward system?

Have you any forecasts on future financial growth ? The roadmap is very impressive , how does this equate to the market cap of the company in say 5 and 10 years ? What are your expectations ?

Thanks

[tempus]

Just found this on twitter: https://twitter.com/LykkeCity/status/784122614814019586

It's an article about 10 Swiss-startups that were nominated, based on the criteria:

1. Comprehensible business case
2. Meet customers requirements
3. Investors and/or management have recognized/accepted/established "track-record"
4. Professional partners and customers
5. Innovation and market potential

....that's my own translation and my translator-skills are not the best but it should give an impression ;-)

[btvGainer]

is it available in exchanges to buy?if yes where can I buy it and what is the current price?

[tempus]

is it available in exchanges to buy?if yes where can I buy it and what is the current price?

Lykke is the exchange. You can buy it through their App, available for IOS and Android: https://lykke.com/lykkewallet/

Fixed price during the ICO is 0.05 CHF (in Bitcoin currently 0.00008261 BTC)

After the ICO the market will take over - also on Lykke.


***********
Edit: There are also two "user-guides" for the App (plus some Infos about Lykke and the ICO):


IOS: https://coins.newbium.com/post/2055-lykke-a-global-marketplace-on-the-blockchain
Android: https://coins.newbium.com/post/2287-lykke-android-wallet

[tempus]

Who would like to ask some questions to the CEO, Richard Olsen, directly:


LIVE October 7 @12 PM EST: Richard Olsen, CEO at lykke
http://blockgeeks.com/ama/live-october-7-12-pm-est-richard-olsen-ceo-at-lykke/?utm_content=buffer129f9&utm_medium=social&utm_source=linkedin.com&utm_campaign=buffer