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

[tempus]

Is there already any substantial bootstrapping /  success story happening?

Sorry could not really find that - but that tells me rather - nope.

Or might Shape Shift eat the lunch cause they have business and do 'just' expand a bit ?

 

They're working hard on all fronts, the technology and next releases, the market itself, regulations, business. I understand that it may seem quiet out of public perspective since I know that from my own experience whenever I follow projects I'm invested in (still my focus). But a simple fact is that it takes time to develop quality and especially the next big releases (that can be expected soon), Offchain and Ethereum-implementation, are big ones and need to be as perfect as possible. That's the reason why they test it and after testing it they test it more.

What is also important: A lot of detail-work is often not visible at once, time consuming and wouldn't impress the public if announced - but it's really important. No real progress and quality without that.

With other words: I understand that it sometimes may seem as if not much is happening but everybody who is invested and cares about this project can be sure that whenever he goes to bed, Lykke has made progress and is better than 24 hours before. Lykke never stands still and delivery is not an empty promise.

Btw: All indicators show that Lykke gets significant increasing attention now. Number of KYC-processes is on a high, site traffic is, reddit-subscribers and activity, volume is increasing since some time, price is also nearly ATH (which was yesterday if I'm right and still above $0.2) etc.

[2bfree]

I had a very bad experience with them I tried to open an account then they started talking like the former commies in my country demanding this and that to get access to the account and trade, so needless to say I haven't been able to trade yet. I'm on the road and can't get all the documents they are demanding. It's a very bad experience for me. Hopefully they will chance more to the open freedom model I live so I can get some of their coin.

If I'm wrong sorry.

[tempus]

(...)

Or might Shape Shift eat the lunch cause they have business and do 'just' expand a bit ?

 

Forgot that in my previous post: I know that the Prism-release gets a lot of attention and it looks impressive. But it's not like Lykke. If I understand it correctly it's a smart contract as portfolio tracker. Users can lock up ETH and kind of "bet" on prices. It's not a real exchange and there is no real buying and ownership of assets. Also Fiat is not possible.

With other words: It's a nice piece of software and well designed and also an idea with potential. But in Lykke it's much more - about infrastructure, a real exchange and direct ownership, not only Crypto but also forex and even beyond (company shares for example) and regulations to build a real world use case connected into both, the blockchain-space and the established system.

[jayohby]

guys, how come this is not a thing yet??

why isn't this bigger than polo and bittrex?

I've checked out this project in the past and forgot about it but it seemed too much KYC when signing up.

[tempus]

I had a very bad experience with them I tried to open an account then they started talking like the former commies in my country demanding this and that to get access to the account and trade, so needless to say I haven't been able to trade yet. I'm on the road and can't get all the documents they are demanding. It's a very bad experience for me. Hopefully they will chance more to the open freedom model I live so I can get some of their coin.

If I'm wrong sorry.

Sorry to hear that! Maybe that's a result of the complicated situation because of different regulatory requirements. That should become much easier in future. US-citizen, for example, are currently totally blocked.

At the same time the KYC-process is needed for a project like Lykke, otherwise it wouldn't be possible to offer Fiat, to do crowdfundings, to go into the payment direction with debit card etc. Technically it's an easy step-by-step-process:

1) Selfie over the app
2) Photo of ID-card
3) Photo of a document to confirm the address

But of course, those who have to do that all need to be carefully. It needs accuracy and high standards. But they give their best to be very customer-friendly.

[tempus]

guys, how come this is not a thing yet??

why isn't this bigger than polo and bittrex?

I've checked out this project in the past and forgot about it but it seemed too much KYC when signing up.

It's not bigger than Bittrex and Polo because that are the Nr. 1 Crypto-exchanges. They are around since years. Lykke is still in the building mode and still only accessible over the App (that will change of course).

I've already written something about the KYC-process in my previous post, but to add this: In comparison to Bittrex and Poloniex (and other Crypto-only-exchanges) the big difference is Fiat. Lykke has much higher goals.

[2bfree]

I had a very bad experience with them I tried to open an account then they started talking like the former commies in my country demanding this and that to get access to the account and trade, so needless to say I haven't been able to trade yet. I'm on the road and can't get all the documents they are demanding. It's a very bad experience for me. Hopefully they will chance more to the open freedom model I live so I can get some of their coin.

If I'm wrong sorry.

Sorry to hear that! Maybe that's a result of the complicated situation because of different regulatory requirements. That should become much easier in future. US-citizen, for example, are currently totally blocked.

At the same time the KYC-process is needed for a project like Lykke, otherwise it wouldn't be possible to offer Fiat, to do crowdfundings, to go into the payment direction with debit card etc. Technically it's an easy step-by-step-process:

1) Selfie over the app
2) Photo of ID-card
3) Photo of a document to confirm the address

But of course, those who have to do that all need to be carefully. It needs accuracy and high standards. But they give their best to be very customer-friendly.

That's what my freedom-hating regulators (ex-cumunist) always say be carefully how you submit your ID so we can track you. Go freedom! I hate all that crap that is why I like Bitcoin Satorshy wasent a comunist forcing me to what's how I take a selfie and photo ID and confirm the address! I hate comunists freedom haters sorry if' i'm prejidist but I like freedom!

NO ID! How about that, I'll stick to Satoshy's bitcoin!

[hv_]

Is there already any substantial bootstrapping /  success story happening?

Sorry could not really find that - but that tells me rather - nope.

Or might Shape Shift eat the lunch cause they have business and do 'just' expand a bit ?

 

They're working hard on all fronts, the technology and next releases, the market itself, regulations, business. I understand that it may seem quiet out of public perspective since I know that from my own experience whenever I follow projects I'm invested in (still my focus). But a simple fact is that it takes time to develop quality and especially the next big releases (that can be expected soon), Offchain and Ethereum-implementation, are big ones and need to be as perfect as possible. That's the reason why they test it and after testing it they test it more.

What is also important: A lot of detail-work is often not visible at once, time consuming and wouldn't impress the public if announced - but it's really important. No real progress and quality without that.

With other words: I understand that it sometimes may seem as if not much is happening but everybody who is invested and cares about this project can be sure that whenever he goes to bed, Lykke has made progress and is better than 24 hours before. Lykke never stands still and delivery is not an empty promise.

Btw: All indicators show that Lykke gets significant increasing attention now. Number of KYC-processes is on a high, site traffic is, reddit-subscribers and activity, volume is increasing since some time, price is also nearly ATH (which was yesterday if I'm right and still above $0.2) etc.

I believe that they are working hard , sure they do. Thing is: Top down dev might fail by hard if its done too away from clients needs or at wrong time...
You need to show real live use case and develop / organic-growth from this - that is bottom up and might be successful.

[tempus]

I had a very bad experience with them I tried to open an account then they started talking like the former commies in my country demanding this and that to get access to the account and trade, so needless to say I haven't been able to trade yet. I'm on the road and can't get all the documents they are demanding. It's a very bad experience for me. Hopefully they will chance more to the open freedom model I live so I can get some of their coin.

If I'm wrong sorry.

Sorry to hear that! Maybe that's a result of the complicated situation because of different regulatory requirements. That should become much easier in future. US-citizen, for example, are currently totally blocked.

At the same time the KYC-process is needed for a project like Lykke, otherwise it wouldn't be possible to offer Fiat, to do crowdfundings, to go into the payment direction with debit card etc. Technically it's an easy step-by-step-process:

1) Selfie over the app
2) Photo of ID-card
3) Photo of a document to confirm the address

But of course, those who have to do that all need to be carefully. It needs accuracy and high standards. But they give their best to be very customer-friendly.

That's what my freedom-hating regulators (ex-cumunist) always say be carefully how you submit your ID so we can track you. Go freedom! I hate all that crap that is why I like Bitcoin Satorshy wasent a comunist forcing me to what's how I take a selfie and photo ID and confirm the address! I hate comunists freedom haters sorry if' i'm prejidist but I like freedom!

NO ID! How about that, I'll stick to Satoshy's bitcoin!

You have all freedom to decide not to use Lykke and I agree that it's most likely not the right platform for you.

But, independently of Lykke, I would suggest to think about all this more realistic and practical and less ideological, also to be able to come close to your high ideals. What I mean is: Total freedom is not for free. There would be a price to pay because humans are not necessarily saints and especially honest people would become victims of those who would mis-use "total freedom", especially when it's about money. That already happens each single day, in small and big (also institutional).

And if you want to be totally free and protect your data, you need to know how to do it, because while Lykke needs to do a KYC-process, there are many other providers that collect your data and know more about you than your closest friends while you are maybe not even aware. If you use Google without VPN - they do psychological profiles. Amazon and all big retailers do the same. Social networks are very interested in all what you express. And if you use a smartphone and maybe even a messenger like WhatsApp (which is Facebook btw) - think about how much and what you give them, maybe even without thinking about it. Fact is: Without hiding your IP you are tracked all over the internet and with each single click you give data away about you.

And if you say: "NO ID! How about that, I'll stick to Satoshy's bitcoin!" - you should know that the blockchain is not anonymous. It can be tracked and I personally have not much doubt that it's already done. If you want to be consequent you shouldn't even use Bitcoin, or you need to do a lot and follow some rules to be anonymous. If you want to use exchanges it becomes complicated then, because there won't be many options, especially if you want to stay totally anon but also to use Fiat. And even Crypto-only-exchanges start with basic KYC-requirements once a User wants to move more money - take a look at Poloniex or Bittrex.

That said: I understand idealism and I'm all for privacy and data protection. But it's also about being realistic and in most of all cases it's also about a look into the mirror. Only a minority is really consequent when it's about self-responsibility and data-protection.

[tempus]

Is there already any substantial bootstrapping /  success story happening?

Sorry could not really find that - but that tells me rather - nope.

Or might Shape Shift eat the lunch cause they have business and do 'just' expand a bit ?

 

They're working hard on all fronts, the technology and next releases, the market itself, regulations, business. I understand that it may seem quiet out of public perspective since I know that from my own experience whenever I follow projects I'm invested in (still my focus). But a simple fact is that it takes time to develop quality and especially the next big releases (that can be expected soon), Offchain and Ethereum-implementation, are big ones and need to be as perfect as possible. That's the reason why they test it and after testing it they test it more.

What is also important: A lot of detail-work is often not visible at once, time consuming and wouldn't impress the public if announced - but it's really important. No real progress and quality without that.

With other words: I understand that it sometimes may seem as if not much is happening but everybody who is invested and cares about this project can be sure that whenever he goes to bed, Lykke has made progress and is better than 24 hours before. Lykke never stands still and delivery is not an empty promise.

Btw: All indicators show that Lykke gets significant increasing attention now. Number of KYC-processes is on a high, site traffic is, reddit-subscribers and activity, volume is increasing since some time, price is also nearly ATH (which was yesterday if I'm right and still above $0.2) etc.

I believe that they are working hard , sure they do. Thing is: Top down dev might fail by hard if its done too away from clients needs or at wrong time...
You need to show real live use case and develop / organic-growth from this - that is bottom up and might be successful.

Yes, but exactly that is happening. And the team is also informed about what user wants, open for suggestions and also in touch with the community.

And in comparison to some other projects with similar goals, Lykke is already practical useful and also user-friendly. There is a lot to improve of course, but I don't know of any similar project that would be ahead.

And one fact always stays the same: Especially because Lykke is about developing real-life-use-cases for the financial market, high quality standards are crucial. And delivering quality still needs real time. We shouldn't forget that "Crypto-time" is highly distorted and more like "dog-years". ;-)

[2bfree]

I greaw up in a tyrany and your double-speak here from Lykke lovers reminds me of how they talk. They never just say what they mean. You can't sugur coat that you are tracking me and my ID and so on. So take a hype and go doble speak to some other person not me.

I'm done ranting now and will go to Dash or some other less invasive coin then Lykke

[tempus]

I greaw up in a tyrany and your double-speak here from Lykke lovers reminds me of how they talk. They never just say what they mean. You can't sugur coat that you are tracking me and my ID and so on. So take a hype and go doble speak to some other person not me.

I'm done ranting now and will go to Dash or some other less invasive coin then Lykke

1) I've already told you that it's your own choice. I don't even try to convince you to use Lykke.

2) Lykke is no coin. While LKK is technically a colored coin it's purpose is ownership (shares of Lykke). Lykke is an exchange and that is the reason for the KYC-process.

3) You started this discussion, not me.

4) Dash may be at least a step forward when it's about anonymity and a better choice than your previous one "NO ID! How about that, I'll stick to Satoshy's bitcoin!". Maybe also take a look at Monero and/or Zcash.

5) I talk straight forward. No double speak to find here.

[hv_]

Is there already any substantial bootstrapping /  success story happening?

Sorry could not really find that - but that tells me rather - nope.

Or might Shape Shift eat the lunch cause they have business and do 'just' expand a bit ?

 

They're working hard on all fronts, the technology and next releases, the market itself, regulations, business. I understand that it may seem quiet out of public perspective since I know that from my own experience whenever I follow projects I'm invested in (still my focus). But a simple fact is that it takes time to develop quality and especially the next big releases (that can be expected soon), Offchain and Ethereum-implementation, are big ones and need to be as perfect as possible. That's the reason why they test it and after testing it they test it more.

What is also important: A lot of detail-work is often not visible at once, time consuming and wouldn't impress the public if announced - but it's really important. No real progress and quality without that.

With other words: I understand that it sometimes may seem as if not much is happening but everybody who is invested and cares about this project can be sure that whenever he goes to bed, Lykke has made progress and is better than 24 hours before. Lykke never stands still and delivery is not an empty promise.

Btw: All indicators show that Lykke gets significant increasing attention now. Number of KYC-processes is on a high, site traffic is, reddit-subscribers and activity, volume is increasing since some time, price is also nearly ATH (which was yesterday if I'm right and still above $0.2) etc.

I believe that they are working hard , sure they do. Thing is: Top down dev might fail by hard if its done too away from clients needs or at wrong time...
You need to show real live use case and develop / organic-growth from this - that is bottom up and might be successful.

Yes, but exactly that is happening. And the team is also informed about what user wants, open for suggestions and also in touch with the community.

And in comparison to some other projects with similar goals, Lykke is already practical useful and also user-friendly. There is a lot to improve of course, but I don't know of any similar project that would be ahead.

And one fact always stays the same: Especially because Lykke is about developing real-life-use-cases for the financial market, high quality standards are crucial. And delivering quality still needs real time. We shouldn't forget that "Crypto-time" is highly distorted and more like "dog-years". ;-)

I'm giving you / Lykke all the time you need ... 

 

I just try to keep myself informed and I might meet some guys from Lykke soon to achieve exactly this here in Swissi - lets wait & see...

[tempus]

Is there already any substantial bootstrapping /  success story happening?

Sorry could not really find that - but that tells me rather - nope.

Or might Shape Shift eat the lunch cause they have business and do 'just' expand a bit ?

 

They're working hard on all fronts, the technology and next releases, the market itself, regulations, business. I understand that it may seem quiet out of public perspective since I know that from my own experience whenever I follow projects I'm invested in (still my focus). But a simple fact is that it takes time to develop quality and especially the next big releases (that can be expected soon), Offchain and Ethereum-implementation, are big ones and need to be as perfect as possible. That's the reason why they test it and after testing it they test it more.

What is also important: A lot of detail-work is often not visible at once, time consuming and wouldn't impress the public if announced - but it's really important. No real progress and quality without that.

With other words: I understand that it sometimes may seem as if not much is happening but everybody who is invested and cares about this project can be sure that whenever he goes to bed, Lykke has made progress and is better than 24 hours before. Lykke never stands still and delivery is not an empty promise.

Btw: All indicators show that Lykke gets significant increasing attention now. Number of KYC-processes is on a high, site traffic is, reddit-subscribers and activity, volume is increasing since some time, price is also nearly ATH (which was yesterday if I'm right and still above $0.2) etc.

I believe that they are working hard , sure they do. Thing is: Top down dev might fail by hard if its done too away from clients needs or at wrong time...
You need to show real live use case and develop / organic-growth from this - that is bottom up and might be successful.

Yes, but exactly that is happening. And the team is also informed about what user wants, open for suggestions and also in touch with the community.

And in comparison to some other projects with similar goals, Lykke is already practical useful and also user-friendly. There is a lot to improve of course, but I don't know of any similar project that would be ahead.

And one fact always stays the same: Especially because Lykke is about developing real-life-use-cases for the financial market, high quality standards are crucial. And delivering quality still needs real time. We shouldn't forget that "Crypto-time" is highly distorted and more like "dog-years". ;-)

I'm giving you / Lykke all the time you need ... 

 

I just try to keep myself informed and I might meet some guys from Lykke soon to achieve exactly this here in Swissi - lets wait & see...

I absolutely understand. I'm still more an Investor and also invested in other projects. So I know the "Investor-perspective" also that it's often about waiting and being patient, especially if there are delays. What I do for Lykke is only communication, like a bridge between community/interested people and the team. Others have to do the real work and that's also the reason why I try to explain that. For them it's a huge responsibility and most likely also some pressure, especially because the coming releases are big ones.


Nice that you'll meet some Lykke-people!

[tempus]

Interesting article about market-dynamics, algo-trading and more:

Lykke: Perfecting the Alpha Engine, Creating Global Opportunity!
https://www.lykke.com/city/blog/lykke_perfecting_the_alpha_engine

[somac.]

Is anyone here having trouble transferring bitcoin from the private wallet to the trading wallet? I keep getting an error that says "HOLD UP! We are experiencing technical problems. Please try again."

I mailed support and they got back to me with the suggestion that I try transferring a smaller amount. No luck with a smaller amount I'm affraid, and I haven't heard back from support yet.

[tempus]

Is anyone here having trouble transferring bitcoin from the private wallet to the trading wallet? I keep getting an error that says "HOLD UP! We are experiencing technical problems. Please try again."

I mailed support and they got back to me with the suggestion that I try transferring a smaller amount. No luck with a smaller amount I'm affraid, and I haven't heard back from support yet.

I believe there is some kind of overload, maybe too much user-activity at once. I just opened the App and it also didn't work first but seems ok now.

Your transaction wasn't processed at all?

[somac.]

I believe there is some kind of overload, maybe too much user-activity at once. I just opened the App and it also didn't work first but seems ok now.

Your transaction wasn't processed at all?

Nope and still not working, i can't transfer out of that wallet to any other btc address.

[tempus]

I believe there is some kind of overload, maybe too much user-activity at once. I just opened the App and it also didn't work first but seems ok now.

Your transaction wasn't processed at all?

Nope and still not working, i can't transfer out of that wallet to any other btc address.

I'm sure they are aware because of your mail to support, but I'll post it additionally on the Slack. Are you on IOS or Android?

[somac.]

I'm on android. How to I go about posting on slack? I've never used it before.