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

[tempus]

Is there a Slack channel for Lykke? Seems like the most traded asset on Lykke is SLR but it's hard to determine buys vs sells. On a side note why is the price of LKK dropping?

Yes, there is a slack but it's not a public slack. The telegram-channel is public and also team members are quite active there:
https://telegram.me/joinchat/AEGiqkF-_dNaHMwQbRSnAg

But there are thoughts about setting up a community-slack.

Why the price is dropping: I believe there are two reasons:

1) Some sold LKK to have money to buy into the 1YLKK-forward
2) Bitcoin rise. On Polo it was a bloodbath today about 95% in deeply red (still is, but it looks a little bit better now).

Like I mentioned in an earlier message I started to sold BTC to hedge in case of an incoming and also to take some profits. Buying altcoins is not really an alternative since when BTC dumps or pumps, altcoins suffer in terms of fiat, look at Factom for example. Even if BTC dumps it will never regain its fiat price since that money is out of crypto. Selling for fiat directly doesn't really interest me, so purchasing Lykke shares is a great stable shelter. Since I started buying the fiat price hardly moved compared to other altcoins. I understand we could see $4 per LKK share but that for me only means it will be very undervalued.

A company like this can have revenue of up to 50-100 million dollars per year easily just in the upcoming years. A very (VERY) modest 12 million revenue per year basically means $1 in dividends per Lykke share...

I also believe that Lykke can become very valuable, maybe even much faster than people seem to expect now - not weeks of course, but over the next 12 months there will be a lot of very obvious progress. And if we think in years --> time should really be on Lykke's side.

Regarding the Alt-Market: I don't find much pattern lately. Over the years there were different dynamics but they've changed pretty fast. And I believe we see a changing market right now and that the uncertainty is a sign for a change. That includes Bitcoin. There is an up-trend but there are also a lot of uncertainties (PBoC and new rules on chinese exchanges), the Winklevoss-ETF turns out as a gamble to bet on, and what I believe is really serious while totally uncertain: "Scaling-War".

Factom: It's hurtful lately ;-) I really don't get it how people can sell it below $3. The M2 rollout is absolutely not like everybody hoped for but there is no doubt that they will handle that and considered it's potential it already could be 100% higher in my opinion, especially if compared to some Top-10 projects.

I think the problem with Factom is that there are some whales who can move the price up and down during these pnds. There's also not a strong community behind like Ethereum for example since the project is also less ambitious in some ways. I think Lykke price is decoupled from BTC already in a way that it will always fluctuate close to 0.04-0.05 CHF/USD at least for now. I guess it can go lower but the company already have offices, trademark, apps already working perfectly, that is what a company marketcap is worth. In most projects you are buying a token/coin not a share in the company, there's no dividends, no offices, no trademarks so price is much more speculative.

The current Bitcoin rally to me it's nothing more than ETF hype/pump and it will correct to below 1k soon enough. In my opinion there's zero chance the ETF gets approved and it would be a huge surprise if the contrary happens. The price will blow past $1500 and could even touch $2k if that was the case. I'm trying to take profits on every peak since I don't have much faith on the ETF to pass so I'm sure it will eventually dump.

If the ETF gets approved well I'm guessing we all have a long term BTC stash...

Factom: Yes, that is true. I'm one of the lucky early birds myself and back in 2015 it wasn't too known and compared to today much cheaper to become a whale. And some are so much in profit and have so much that they are able to sell and to keep it down with that. But I also believe that there are some strategic manipulations at least sometimes. The latest decrease might be more a combi of rising BTC and M2-problems. But the community is growing. Much more active (but more on slack now) then 8-12 months back.

LKK-price: Since LKK is traded on Lykke and attracted more long-term-focused people instead of those who try to make a quick buck through waiting for a Polo-pump it's of course more stable. Plus: Lykke uses algotrading that also has some stabilizing effect. And yes, I believe it's unlikely to drop much. At least in mid-term I expect a rising price because there is so much to come that will impress. Traffic and App-downloads are also increasing and I hope for an explosion some time in 2017 ;-)

Bitcoin: I'm really not sure what it is. Of course, the ETF seems to play a major role but the predictions are not positive. That's why I don't understand the current rally. If you look here for example:

The Bitcoin ETF Will Be Rejected According to Prediction Markets
https://www.cryptocoinsnews.com/the-bitcoin-etf-will-be-rejected-according-to-prediction-markets/

But, of course: not facts, just betting.

Yes actually this is the article that convinced me: http://www.etf.com/sections/features-and-news/bitcoin-etfs-dummies

To me there's now way the ETF pass however we must admit that after Trump anything's possible and now that we are on that matter, there are a lot of powerful people around him who are very pro Bitcoin. If it passes well, we all win since I assume most here hold BTC hehe.

Anyway, regarding Lykke future, I've read what they have in store for both the near and long term and it's very exciting, everything they've released so far has been flawless so that's why my recent interested on it. The previous ICO was badly timed (just luck of course) with the huge BTC rally but I know there's plenty of potential here.

I wanted to ask you about CDFs, I know they will be focusing first on FX markets, but CDFs are huge too, do you know if they are planning to implement them this year or in the short term? Being able to buy Apple or Amazon stocks (well not really, CDFs hehe) with "crypto" would be mindblowing and is the reason why we are so excited about this project and others in the current blockchain landscape.

I'll ask your questions about CFDs on slack and post the answer once I have it!

[1714866383]

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[1714866383]

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[mtnsaa]

Thanks tempus! CDFs trading could be a game changer. I know eventually any sort of asset, digital or real could be traded however CDFs could become a reality in the near future. I don't think they are legal in the US but there's plenty of companies like plus500 and eToro doing very well.

Imagine tokenizing Uber or IBM stocks!

[tempus]

Thanks tempus! CDFs trading could be a game changer. I know eventually any sort of asset, digital or real could be traded however CDFs could become a reality in the near future. I don't think they are legal in the US but there's plenty of companies like plus500 and eToro doing very well.

Imagine tokenizing Uber or IBM stocks!

You'll like this!





Edit: The article about the ETF is really interesting! Thanks!

[mtnsaa]

Thanks tempus! CDFs trading could be a game changer. I know eventually any sort of asset, digital or real could be traded however CDFs could become a reality in the near future. I don't think they are legal in the US but there's plenty of companies like plus500 and eToro doing very well.

Imagine tokenizing Uber or IBM stocks!

You'll like this!





Edit: The article about the ETF is really interesting! Thanks!

Amazing news then! Thanks for the quick reply

[Alao]

Is there a Slack channel for Lykke? Seems like the most traded asset on Lykke is SLR but it's hard to determine buys vs sells. On a side note why is the price of LKK dropping?

Yes, there is a slack but it's not a public slack. The telegram-channel is public and also team members are quite active there:
https://telegram.me/joinchat/AEGiqkF-_dNaHMwQbRSnAg

But there are thoughts about setting up a community-slack.

Why the price is dropping: I believe there are two reasons:

1) Some sold LKK to have money to buy into the 1YLKK-forward
2) Bitcoin rise. On Polo it was a bloodbath today about 95% in deeply red (still is, but it looks a little bit better now).

What happened on Poloniex. Seems some coins like burst and pascal have risen in the past couple of days. You think people are selling alts to get their hands on BTC?

[tempus]

Is there a Slack channel for Lykke? Seems like the most traded asset on Lykke is SLR but it's hard to determine buys vs sells. On a side note why is the price of LKK dropping?

Yes, there is a slack but it's not a public slack. The telegram-channel is public and also team members are quite active there:
https://telegram.me/joinchat/AEGiqkF-_dNaHMwQbRSnAg

But there are thoughts about setting up a community-slack.

Why the price is dropping: I believe there are two reasons:

1) Some sold LKK to have money to buy into the 1YLKK-forward
2) Bitcoin rise. On Polo it was a bloodbath today about 95% in deeply red (still is, but it looks a little bit better now).

What happened on Poloniex. Seems some coins like burst and pascal have risen in the past couple of days. You think people are selling alts to get their hands on BTC?

Yeah, it's a bloodbath lately ;-) And yes, it has a lot to do with sell-pressure because of the Bitcoin-rise. At once there is the typical price-adjustment, but it's also anticipation. People try to be in the best position in case that the scenario they believe is most most promising in terms of profit (not necessarily most likely) realizes. And many seem to bet on an approval of the Winklevoss-ETF, while I'm very skeptical that it will get approval. But if, it's pretty much a safe bet that Bitcoin will reach a new ATH.

I had a good laugh on reddit yesterday. Somebody asked:

 "Where can I get the results of the ruling the quickest when it comes out?"

Answer: "any current btc price chart ;-)"


I personally don't sell any alts because I believe BTC involves a much higher risk than most people may think (China might be on the safe side soon, but the Scaling-Debate won't end and could turn into a mess) and will be more volatile and unpredictable than Lykke for example or Factom or some others. They also drop in price, but I have no doubt that they will recover.

And like in the end of 2013 with Litecoin, that exploded x30 (and even more) once Bitcoin crashed, it's my bet that if Bitcoin should explode it will come down again and that will be the time to celebrate if one is invested in good projects.

[axrhuls]

 SPECIAL LIMITED OFFER FEBRUARY 9 – FEBRUARY 28, 2017

What do you mean, will you have an ICO in the near future? I hope not more ICO, your price is under last ICO, it means the current price is overvalued.

[tempus]

SPECIAL LIMITED OFFER FEBRUARY 9 – FEBRUARY 28, 2017

What do you mean, will you have an ICO in the near future? I hope not more ICO, your price is under last ICO, it means the current price is overvalued.

I don't know if there will be other crowdfundings or other forms of funding-rounds in future. I believe yes, since all projects that are not profitable yet need funds to get things done. But funding rounds like the ICO last year or the current 1yLKK-sale are also done with the intention to get a good community-base. Investors become supporters and it's better to have many small Investors than just a few big guys. But Lykke acts very carefully and long-term-focused.

The price: We could discuss if a decline in price really means that a project is overvalued. That would mean that prices reflect real value objectively what's not the case in my opinion - best seen in some projects that are worth pretty much nothing (some or many are even scams) but get pumped up on irrational price-levels. And there are also projects that are undervalued on the market and I believe that Lykke has a lot of price-potential.

But yes, the price went a little bit down because 1) Bitcoin went up the last months and currently we see a new sharp rise. 2) Some have sold LKK to buy into 1YLKK, which is not a bad sign because it indicates confidence in the long-term-potential of Lykke. 

[tempus]

Somebody on reddit asked about the Business-model of Lykke and how it will be possible to make money without fees.

Since that's a question many may have - this is Richard Olsen's reply:

"My apologies for the late response: yes, our business model is to earn money as a market maker. In this context I want to mention that we will create investment products, whichLykke customers can invest in. The funds of these investmetn products will be used for market making. If market making is done with our own funds, we earn 100% of the profits, whereas with the investment products Lykke earns the performance fee.
Lykke is on a rapid innovation path and we will release products that will be game changers for the industry: margin based trading across all asset classes on blockchain, boxoption - a highly intuitive tservice to trade short-term price moves, borrowing and lending service powered by a new securities lending model. We will offer these services fully regulated, which enables us to aggressivley market our services across the globe. The growh and profit potential for Lykke is huge."
https://www.reddit.com/r/lykke/comments/5u9auy/if_lykke_doesnt_take_fees_for_anything_how_they/



He mentions Box-Options in his post and that is really impressive in my opinion. Very intuitive, nearly like a "Trading-Game". There will be the choice to use it only in training-mode or with real money. Mihail Nikulin has given his okay to share this:

Box Options:

[tempus]

Full Stack Developer / Architect with focus on real-time analytics and trading systems

Lykke is changing the world of financial markets. Block chain technologies, stream analytics, HF trading, community centered finance (e.g. P2P lending), crowed funding are some of the buzz words that describe our activities.

Lykke is looking for developers that are ready to work with the most advanced system architectures in financial systems and community based portals.

(...)

Full article: https://lykke.com/city/open_positions

[tempus]

If somebody should be concerned because Bitcoin-transaction/confirmation-delays:

The Mempool was on an ATH today (>100k unconfirmed transactions). Right now still significantly > 90k:





https://blockchain.info/de/charts/mempool-count?timespan=all

[tempus]

Lykke on the Bitcoin-Rush-Show:

Bitcoin Rush Swiss USA Germany China
https://vid.me/6eND

[tempus]

What is Lykke Forward?
By Sergey Ivliev, Lykke co-founder and COO
https://lykke.com/city/blog/what_is_lykke_forward

[CryptInvest]

When do devs plan to develop an application for the x86 architecture or web client for exchange?

[tempus]

When do devs plan to develop an application for the x86 architecture or web client for exchange?

The web-based-terminal already is in development and they are making progress, but time frames cannot be defined at the moment.
But be sure, I'll post it in big letters once there is a time-estimation. ;-)

[tempus]

This is a very interesting article about the SEC and it's decision-makers and of course it's with focus on the Winklevoss-ETF:

Meet the Two SEC Commissioners Tasked with the Historical Bitcoin ETF Decision
https://www.cryptocoinsnews.com/meet-the-two-sec-commissioners-tasked-with-the-historical-bitcoin-etf-decision/



But a lot of quotes of the SEC-members are not that much about Bitcoin but about Blockchain and how they see Fintech, in fact more about a business-model like Lykke.



Some examples:

He urged the SEC to take a leading role, stating “[t]he great potential of FinTech should not be hindered by our current regulatory structure,” before adding:

“[T]he Commission should take the lead regulatory role in the FinTech space. Many of the firms pursuing FinTech are already SEC registrants, and others are providing services that are squarely within the Commission’s oversight, such as investment advice and trading and settlement functionalities. And we are the only agency with a mission that explicitly includes facilitating capital formation. In that regard, our recent crowdfunding initiatives provide us the relevant experience and expertise for understanding the regulatory challenges.”

(...)

It could be used to overhaul areas like securities clearing and settlements, payment processing by banks, and cumbersome loan transactions. It has the power potentially to increase quality and facilitate trust.

(...)

“While I am not advocating for the adoption or effectiveness of blockchain technology, it appears to offer potential. One can imagine a world in which securities lending, repo, and margin financing are all traceable through blockchain’s transparent and open approach to tracking transactions. That could revolutionize regulators’ approach to monitoring systemic risk in these areas, including the oversight of collateral reuse, to name just one potential use.”






And to add a little bit Lykke-Context.

Sergey Ivliev just said on Telegram:

"We are applying for SEC Broker license early March. Estimated time is 3 months."


Richard Olsen about Lykke and Regulators:

"Regulators are deeply frustrated with their inability to reform the financial system, so regulators are open to innovation. It is key that innovators package their services and products within the regulatory framework – so this packaging is important. Companies, organizations that do this can actually profit from the support of regulators"

"Lykke addresses issues that regulators wanted to solve for decades – we are highlighting these features: new type of matching engine based on price, time and spread priority, which addresses the risk of flash crashes, intraday interest payments, which ensures intraday liquidity during periods of stress, ability of immediate settlement, which is a continuous clearing system for all types of asset classes and can address the issue of too big to fail. We highlight, why our exchange can solve problems of the existing financial system and then last but not least prepare our applications in a meticulous fashion – we have some excellent lawyers, who support us."

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

[mtnsaa]

When do devs plan to develop an application for the x86 architecture or web client for exchange?

The web-based-terminal already is in development and they are making progress, but time frames cannot be defined at the moment.
But be sure, I'll post it in big letters once there is a time-estimation. ;-)

Tempus, do you know when Lykke will list Chronobank Time tokens? I know they have a deal so it must be very soon. The project doesn't seem that interesting in my opinion but I still bought some at the ICO since I think with the recent BTC rally it was undervalued compared to what they intended to raise. Total coin supply is only 710,113...with some good news and progress I think it will be due for a nice pump eventually once BTC finally settles.

[tempus]

When do devs plan to develop an application for the x86 architecture or web client for exchange?

The web-based-terminal already is in development and they are making progress, but time frames cannot be defined at the moment.
But be sure, I'll post it in big letters once there is a time-estimation. ;-)

Tempus, do you know when Lykke will list Chronobank Time tokens? I know they have a deal so it must be very soon. The project doesn't seem that interesting in my opinion but I still bought some at the ICO since I think with the recent BTC rally it was undervalued compared to what they intended to raise. Total coin supply is only 710,113...with some good news and progress I think it will be due for a nice pump eventually once BTC finally settles.

The question about the Chronobank-listing was asked on telegram some time (about 2 weeks) ago and Sergey replied:
"Listing is scheduled early March, after TIME token distribution end"

I find it very fascinating but also very very complex, including the market(s) and even social aspects. I did not invest because of that, but I'm very eager to see how it will turn out.

[mtnsaa]

When do devs plan to develop an application for the x86 architecture or web client for exchange?

The web-based-terminal already is in development and they are making progress, but time frames cannot be defined at the moment.
But be sure, I'll post it in big letters once there is a time-estimation. ;-)

Tempus, do you know when Lykke will list Chronobank Time tokens? I know they have a deal so it must be very soon. The project doesn't seem that interesting in my opinion but I still bought some at the ICO since I think with the recent BTC rally it was undervalued compared to what they intended to raise. Total coin supply is only 710,113...with some good news and progress I think it will be due for a nice pump eventually once BTC finally settles.

The question about the Chronobank-listing was asked on telegram some time (about 2 weeks) ago and Sergey replied:
"Listing is scheduled early March, after TIME token distribution end"

I find it very fascinating but also very very complex, including the market(s) and even social aspects. I did not invest because of that, but I'm very eager to see how it will turn out.

Yeah I think I asked this already or we discussed about Chronobank, I've seen that it's already listed on a couple of small exchanges so I guess we can expect it on Lykke by next week or so. Even if it's not a huge project (at least now) it's great to see Lykke starting to list digital assets. I'm a big fan of Ethereum and I can't wait for them to list them, I would definitely move a lot of my trading there since they have a lot of fiat pairs which it's becoming very interesting as some altcoins start to decouple from BTC price.

[tempus]

When do devs plan to develop an application for the x86 architecture or web client for exchange?

The web-based-terminal already is in development and they are making progress, but time frames cannot be defined at the moment.
But be sure, I'll post it in big letters once there is a time-estimation. ;-)

Tempus, do you know when Lykke will list Chronobank Time tokens? I know they have a deal so it must be very soon. The project doesn't seem that interesting in my opinion but I still bought some at the ICO since I think with the recent BTC rally it was undervalued compared to what they intended to raise. Total coin supply is only 710,113...with some good news and progress I think it will be due for a nice pump eventually once BTC finally settles.

The question about the Chronobank-listing was asked on telegram some time (about 2 weeks) ago and Sergey replied:
"Listing is scheduled early March, after TIME token distribution end"

I find it very fascinating but also very very complex, including the market(s) and even social aspects. I did not invest because of that, but I'm very eager to see how it will turn out.

Yeah I think I asked this already or we discussed about Chronobank, I've seen that it's already listed on a couple of small exchanges so I guess we can expect it on Lykke by next week or so. Even if it's not a huge project (at least now) it's great to see Lykke starting to list digital assets. I'm a big fan of Ethereum and I can't wait for them to list them, I would definitely move a lot of my trading there since they have a lot of fiat pairs which it's becoming very interesting as some altcoins start to decouple from BTC price.

They are definitely working on it - last update 4 hours ago: https://github.com/LykkeCity/chronobank-integration

Regarding prices decoupling of Bitcoin: If the ETF should be approved it will become very interesting. Short-term Alts would most likely take a huge hit. But it would bring so much more money in the whole space, make Bitcoin and everything else much more interesting and give a lot of credibility and general attention, that especially a project like Lykke would most likely benefit a lot. But we'll see. Until now I have a lot of doubts that it will be approved.