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

[tempus]

Android is insecure because in practice most devices do not receive updates by vendors. Android updates are totally messed up.

And after the devices were released, severe vulnerabilities such as heartbleed were found.

https://nakedsecurity.sophos.com/2016/08/09/900-million-androids-vulnerable-to-quadrooter-bugs-what-you-need-to-know/

Also any other security bug found never gets fixed. This can compromise the device and eventually steal all funds on the phone.

Yes, true. I believe that there is no device that is ever totally safe as long as there is a connection to the internet. I feel somehow safe on IOS but under the line I'm paranoid when it's about security and usually I use an offline-Computer to generate keys for cold storage.

When it comes to Lykke: I'm not totally sure right now, but I believe at least it might already be possible to do the step with the 12-backup-words offline. But, more important: Of course it's work in progress and they really have a focus on security and also user friendliness and Lykke also won't be just about App's in the future.

Lykke is one of those projects that will grow in many ways/directions significantly and it's hard to know exactly how it will look in future. It's much more complex as it might seem now and also already bigger than many recognize. But I believe progress will happen pretty fast in comparison to others, because of the big team that is working on this.

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[amintek15]

Hi, can someone link the roadmap please ?

[zoranko]

Hi, Dev,,
Any Twitter COntest again ?

[LykkeX]

Hi, can someone link the roadmap please ?

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)

[derekis126]

Hi, can someone link the roadmap please ?

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)

100’000+ transactions per second? Looks good, but like utopia. Anyway, except your site, where can I buy lykke?

[amintek15]

Hi, can someone link the roadmap please ?

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)

100’000+ transactions per second? Looks good, but like utopia. Anyway, except your site, where can I buy lykke?

Lykke is not a simple token, it's a share, that's why noone else trade it i think..
it's nice to see that Lykke resist somehow to btc pump, I think it will get more interesting after Eth support

[LykkeX]

Hi, Dev,,
Any Twitter COntest again ?

I don't think in the next few months

[cointabo]

Such a weird name, judging by it, Lykke will not gain traction.

[yhlsqj]

A complete asset, but not an altcoin, I see. If it is a share, OP so can we earn dividends from lykke? And 100 Lykke is 1 share in your company, how to buy it? I deposit my btc to my wallet and buy? Is it secure if my wallet got deleted, I lost my lykky forever, or my account is stolen my coin stolen too? If it is a share, it can't be stolen.

[tempus]

A complete asset, but not an altcoin, I see. If it is a share, OP so can we earn dividends from lykke? And 100 Lykke is 1 share in your company, how to buy it? I deposit my btc to my wallet and buy? Is it secure if my wallet got deleted, I lost my lykky forever, or my account is stolen my coin stolen too? If it is a share, it can't be stolen.

Dividends:

"Will the coins pay dividends?

Yes. They will when the company decides to pay profits to investors, rather than re-invest to fuel growth. As with most startups, dividends may be some time away."
https://lykke.com/city/blog/2016-10-05/lykke_ico_faq#will_the_coins_pay_dividends


Buying: Yes, you can buy LKK on the Lykke-market via the App.


Security: When you install the Wallet-App there is a step where you have to write down 12-back-up-words. If you should lose or damage your phone or delete the App accidentally you can restore the wallet.

[tempus]

Such a weird name, judging by it, Lykke will not gain traction.

You really believe it's possible to draw conclusions about future success or failure out of a name? Somehow a new approach to analyze projects. ;-)


By the way, it's a great name in my opinion. Richard Olsen explained it on Reddit. Somebody mentioned this:

"Any association to Norway? Because "lykke" is Norwegian for "happiness" :-)"


Richard Olsens answer:

"Lykke is the surname of my grandmother (my father's name was Jørgen Lykke Olsen). My father, who was born in Kopenhagen, explained to me that we are Lykke - we have luck - our project needs Lykke to succeed, so the name Lykje seemed appropriate. Lykke seemed to me like a good choice, because any trade requires luck and is therefore a good name."

https://www.reddit.com/r/BitcoinMarkets/comments/57n2st/lykke_a_global_marketplace_on_the_blockchain/

[adamvp]

Can LKK be bought  outside Lykke app?

[puremage111]

Can LKK be bought  outside Lykke app?

Right now not, and even in the future also nope, it depends. As they itself is an exchange which allows user to trade coins, it will be better to keep it back to their own platform, in terms of security and so

[vlom]

hi there

any news about desktop wallet? i don't like to use the wallet with my iOS device.

[tempus]

Can LKK be bought  outside Lykke app?

Right now not, and even in the future also nope, it depends. As they itself is an exchange which allows user to trade coins, it will be better to keep it back to their own platform, in terms of security and so

It's an interesting question if LKK-shares will be traded on other exchanges as well in future. I believe the answer is "yes". The reason is: Usually a big project like this publishes the idea (whitepaper etc.) and does an ICO without much real to show on development-side. After the ICO it takes some time until launch and the tokens hit an exchange, in best case Poloniex. Polo is also kind of an attention-booster. All projects, even much smaller ones, benefit from that.

Lykke is the other way around: They go step by step more into the public while they've already delivered a lot, so they are able to sell LKK on their own platform. That's a big pro in comparison to others who just sell future-promises. But when it comes to the factor "attention" it doesn't get the quick boost. It's more slowly increasing for some time, but I believe at a certain point it will explode in combination with big news, that will come without doubt.


Thing is: If I'm right with that, Lykke will have much much more volume in future and that won't be just LKK since it's about digital assets in general plus forex-trading (like Richard Olsen did with https://www.oanda.com/lang/de/). And THAT (high volume on Lykke) will make LKK even more to a buy. And that might be the point when other exchanges could join the game.

[tempus]

hi there

any news about desktop wallet? i don't like to use the wallet with my iOS device.

Not yet. But they are working on it. Lykke won't stay just on smartphones.

[someone111]

Android is insecure because in practice most devices do not receive updates by vendors. Android updates are totally messed up.

And after the devices were released, severe vulnerabilities such as heartbleed were found.

https://nakedsecurity.sophos.com/2016/08/09/900-million-androids-vulnerable-to-quadrooter-bugs-what-you-need-to-know/

Also any other security bug found never gets fixed. This can compromise the device and eventually steal all funds on the phone.

Yes, true. I believe that there is no device that is ever totally safe as long as there is a connection to the internet.

No one expects total safety but android has been botched.

I dunno about apple but I don't think they push security updates for old iphones either.

[tempus]

Android is insecure because in practice most devices do not receive updates by vendors. Android updates are totally messed up.

And after the devices were released, severe vulnerabilities such as heartbleed were found.

https://nakedsecurity.sophos.com/2016/08/09/900-million-androids-vulnerable-to-quadrooter-bugs-what-you-need-to-know/

Also any other security bug found never gets fixed. This can compromise the device and eventually steal all funds on the phone.

Yes, true. I believe that there is no device that is ever totally safe as long as there is a connection to the internet.

No one expects total safety but android has been botched.

I dunno about apple but I don't think they push security updates for old iphones either.

Could be right but I don't know tbh. My Iphone is 3.5 years old and with that I'm fine. I even have more trust in it's security than in my Macbook because I simply don't use it much. But in general I understand all security-concerns, even more on Android.

When it's about Lykke: They'll do a lot to make everything as secure as possible and smartphones won't be the only devices to access the platform.

What I would like to see, and already told them and they said they would put it on the list: Cold-storage. That would make it pretty secure, if one is able to generate keys offline, send LKK on a cold-address, and whenever one needs his LKK an easy feature to import the private keys.

There is a lot to come in general. They work hard on a lot of things.

[adhitthana]

I bought some Lykke. They are in a wallet on my phone. I copied the twelve words given to me.

Now. If I lose my phone what do I do to get my coins from my wallet?

[tempus]

I bought some Lykke. They are in a wallet on my phone. I copied the twelve words given to me.

Now. If I lose my phone what do I do to get my coins from my wallet?

You could download the App on another/new phone and get your wallet back with the 12 words. It's somehow similar to import private keys into a Bitcoin-Wallet.


From the FAQ's:

Is it safe to keep my Lykke coins in my Lykke wallet long-term?

We think so. While Apple phones have very good security preventing any malware from recovering data from an app, you should keep a lock code on your phone and take other measures to prevent people from accessing your wallet. It is very important to create paper backup of your wallet - just write down 12 words seed. This seed will help you to recover your private key in case your device is lost or stolen.

Is it possible to use the wallet to do an offline cold storage?

Assuming there is no malware already on your computer or phone, there are two ways to do that:

Be sure to save the twelve-word password of your wallet in a few different places, then delete the wallet from your phone. You can always re-download it and recover your coins using the password.
Send your coins to a Coinprism wallet and back up your private key there to an offline device.
https://lykke.com/city/blog/2016-10-05/lykke_ico_faq