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

[tempus]

Lykke and Pillar Project coming out with a ICO is almost the same project. The guy making the Pillar Project work in Lykkes slack channel and wrote an article for them https://medium.com/@pullnews/the-story-of-the-lykke-coin-251b8179480c.  Someone complained about someone copying the Lykke project and Tempus was trolling the guy acting very strange so I decided to start researching. I would think his reaction is wow i need to tell Richard about this. This is the pillar project https://us.pillarproject.io/. Also the story of the pillar project just like the lykke project... https://theascent.biz/the-story-of-the-pillar-project-bc7a653c8931. There is another one called the mother ship same idea and the road map is formatted just like the lykke roap map. Not sure now if Lykke is for real or just rolling out ICOs with the same idea.

Pillar is not related to Lykke. There are also no relations between Lykke and Mothership.

People are free to build teams and to present their whitepapers and goals to potential Investors who have to come to own conclusions and to make their choice if to invest in a project or not. And it’s always a good choice to dig deep to find out if something may have quality and a chance or not. I personally don’t know anything about mothership so far and if it could be seen as similar to Lykke or even a competitor. What I know about Pillar - I have zero concerns that it could turn out as competitor.


About this:

"Someone complained about someone copying the Lykke project and Tempus was trolling the guy acting very strange so I decided to start researching."

I didn't defend Pillar in any way, but I disagreed with implications that David Siegel is a scammer or "stabbed Richard in the back". As far as I know: Nobody in Lykke is concerned about Pillar. The rest of the discussion on slack was pretty personal because I then was accused to work for Pillar or that I should leave Lykke to work for Pillar, being a scum and delusional and so on - so I just defended myself.

Your fake news like cnn I watched you trolling the guy. You also stated David helps lykke and is part of the slack. And then he makes Pillar ico =). I sold all my lykke. Gl with the project to everyone invested.

The user you are speaking about (and I'm sure that he also has a bitcointalk-account) called me delusional, idiot, scum, enemy, etc. while I just wanted to level that topic down. I'm not interested that the Lykke-Slack becomes an "Attention-on-Pillar-Slack" and that guy has tried a lot to give the impression as if Pillar would be of high importance for Lykke while attacking me, claiming I would or should work for Pillar and leave Lykke.

And of course, I'm no one who simply accepts if somebody speaks that way with and about me. You are free to interpret that as trolling and of course you are also free to sell your LKK.

Especially the latter is interesting, because it shows how personal this topic seems to be for you. But if you sell because you don't like me I can reassure you that I'm not that important. If you are scared that Pillar might be a competitor for Lykke: Same... I know nobody who believes that.

[tempus]

Really liking the practice margin trading. Good for messing with some currency pairs.

Also looking at the roadmap it looks like web based trading might be soon-ish? https://trello.com/b/IV0PH2gs/lykke-roadmap
Of course happy to wait til it's 100% ready to go

There have been some delays recently, especially that the Limit Orders release takes longer than expected has lead to some disappointment, what is understandable of course. That is a reason why everybody is carefully with giving ETA's but the team is aware that also the web-based-terminal is eagerly awaited.  

[RustyShackleford1950]

There have been some delays recently, especially that the Limit Orders release takes longer than expected has lead to some disappointment, what is understandable of course. That is a reason why everybody is carefully with giving ETA's but the team is aware that also the web-based-terminal is eagerly awaited.  

I'd rather they go slow and make sure everything is well tested before going live with either web or limit trading. That's the way to keep people happy and make the best product. Also I think those two will bring in a lot of new users which will be an added stress test.

[tempus]

There have been some delays recently, especially that the Limit Orders release takes longer than expected has lead to some disappointment, what is understandable of course. That is a reason why everybody is carefully with giving ETA's but the team is aware that also the web-based-terminal is eagerly awaited.  

I'd rather they go slow and make sure everything is well tested before going live with either web or limit trading. That's the way to keep people happy and make the best product. Also I think those two will bring in a lot of new users which will be an added stress test.

Yes, couldn't agree more. Limit orders are more a "basic feature" but important of course. Web-based-terminal is likely to get more attention, also to shift the way Lykke is recognized a bit more from "small" to "big". The more important it is that it is as good as possible once released.

And right, everything that attracts a lot of new users in a short time frame is a bit of a stress-test.

[ninjafocus100]

I called it a good investment when you bought it at five cents. Why does that surprise you? Unlike you I don't have a wheelbarrow to push except transparency. If you cashed out now you'd have made 5 times your investment. Yes that's a good investment in my books. But no, I don't think it would be  a good investment for latecomers who buy high from early investors and face much more downside risk.

Finally someone admits Richard owns most LKK, after all the stonewalling. You don't think that confirms my suggestion that Richard stands to make most of the profit, or that it is a make him richer scheme? Okayyyyy...

Anyway, short term Richard can totally manipulate LKK price to stop it going down, thanks to an in-house "algorithm" which I noticed last night favoured price going up: in other words, the larger the LKK sale the fewer USD per LKK you got, but the bigger the USD purchase of LKK the more LKK you got per USD. No price transparency at all, very heavily manipulated, and I can't see a US regulators having a bar of it. I also think as we get to the sharp end of Segwit 2x activation there's a limit to how much funny business with the "algorithm" determining the LKK price will be able to stop people running for the doors.
 

What surprises me, or actually I'm not really surprised, is the inconsistency of your argumentation. On one side you come up with hard accusations. You talk about Lykke as a "scheme", you claim the market would be manipulated, Richard Olsen himself would intervene on the market, and so on. At the same time you speak about Lykke as good investment. And sure, I get your point because that is the only one that is consistent: The price. And that is the constant message you spread on two threads here and several topics on reddit and THAT shows consistency.

And one more time: I don't want to say that there shouldn't be different opinions about total value and price. It's the way you combine things and spread your message that is revealing.

Another thing is: If one wants to attack a project, that is always possible, especially if done with theories like you come up with.

- price goes down: that is about Lykke only underlined with the lie LKK would have went down before others did
- price goes up: Richard Olsen manipulates the market

Or supply and distribution: If founders and team-members wouldn't have so much skin in the game it would be easy to attack that, to come up with the claim they would only care about selling LKK to make money. If they hold a lot, and we are speaking about ownership here, you see a problem in that.


So let's not forget your priority: Cheaper price because after all your accusations you still consider Lykke as good investment. That intention is the only consistent reflection in the way you communicate.

The Little Poodle just tried to talk the price down by spreading nonsense FUD with his bulldog persistence so that he can buy at a cheaper price.

He is bitter that we (early investors) got in early at $0.05 and he is super jealous with us. No body is so free to talk about something that he is not concern with. Enough said.

[MBW_2]

Lykke is built on colored coins protocol (bitcoin blockchain) and I think they just recently announced the intent to migration to Ethereum. Lykke is build and supported by FX traders, so it's half wallet, half trading platform.

[sardasa]

I use Lykke wallet and I don't see these transactions added in my wallet.
Can someone from Lykke please help me to identify the issue here?
https://blockchain.info/tx/0e20848b2ff9af85b32b45f983cc55acce02cb8853499e22f8ae47a4f225ee55

https://blockchain.info/tx/47769f901e88b5469335d3cb085fa135c80562d6a46bfb6eeac13eed5ad7b9d3

[tempus]

I use Lykke wallet and I don't see these transactions added in my wallet.
Can someone from Lykke please help me to identify the issue here?
https://blockchain.info/tx/0e20848b2ff9af85b32b45f983cc55acce02cb8853499e22f8ae47a4f225ee55

https://blockchain.info/tx/47769f901e88b5469335d3cb085fa135c80562d6a46bfb6eeac13eed5ad7b9d3

Sardasa, just if I understand it right: Two BTC-deposits, enough confirmations on the blockchain but not displayed in your account?

Sometimes it happens that the wallet doesn't detect a deposit properly. Please write to support@lykke.com and provide account details (mail-address your App is connected to is most important). Once done, and if you shouldn't get a reply in a timely manner you can message me your ticket number.

[sidhujag]

Lykke is built on colored coins protocol (bitcoin blockchain) and I think they just recently announced the intent to migration to Ethereum. Lykke is build and supported by FX traders, so it's half wallet, half trading platform.

Basically they want to cash in on ico. Also isnt schnorr.tech still in development from wuille? Pretty sure that these guys arent leading edge enough to complete wuilles work without him.

[DRguez]

https://coinmarketcap.com/currencies/lykke vs https://www.lykke.com/city/invest adjustement

Around $20 Millions market cap release this night to adjust Coinmarketcap with Trading wallets.

By reading discussions, Lykke has plan to release all coins after the Assembly, but CMC don't agree. Do you think this change is a compromise that Lykke have made with CMC?

[tempus]

https://coinmarketcap.com/currencies/lykke vs https://www.lykke.com/city/invest adjustement

Around $20 Millions market cap release this night to adjust Coinmarketcap with Trading wallets.

By reading discussions, Lykke has plan to release all coins after the Assembly, but CMC don't agree. Do you think this change is a compromise that Lykke have made with CMC?

Lykke told CMC about the transfer supply from old coinprism-addresses to the trading-section before, but once it happened, CMC back-updated and displayed the old number. I don't know if there is a new status but yes, in their opinion only the supply that was sold to the public should be displayed as circulating supply.

But, the most important aspect about that is transparency about the total value (total supply multiplied with price), because Lykke first got some critique that only what was sold to the public was displayed as "marketcap" (CMC changed that later to circulating supply) and then there also have been some critiques about the transfer.

And on the Invest-page, independently on what is in the trading or private section or coinprism addresses, the total value is displayed as marketcap now so that everybody can check on one look.

[RustyShackleford1950]

I really wish coinmarketcap would display the true market cap instead of the free float, it's very misleading since pretty much the entire crypto space uses that website

[cryptoonion888]

https://coinmarketcap.com/currencies/lykke vs https://www.lykke.com/city/invest adjustement

Around $20 Millions market cap release this night to adjust Coinmarketcap with Trading wallets.

By reading discussions, Lykke has plan to release all coins after the Assembly, but CMC don't agree. Do you think this change is a compromise that Lykke have made with CMC?

Lykke told CMC about the transfer supply from old coinprism-addresses to the trading-section before, but once it happened, CMC back-updated and displayed the old number. I don't know if there is a new status but yes, in their opinion only the supply that was sold to the public should be displayed as circulating supply.

But, the most important aspect about that is transparency about the total value (total supply multiplied with price), because Lykke first got some critique that only what was sold to the public was displayed as "marketcap" (CMC changed that later to circulating supply) and then there also have been some critiques about the transfer.

And on the Invest-page, independently on what is in the trading or private section or coinprism addresses, the total value is displayed as marketcap now so that everybody can check on one look.

Man, I triggered the settlement today: that means I frozen those lkky1 for one year from now? Or have more implication?

[mtnsaa]

I really wish coinmarketcap would display the true market cap instead of the free float, it's very misleading since pretty much the entire crypto space uses that website

It's a controversial opinion but I think both sides have a good point and they both acted as transparent as possible. I also didn't think much about coinmarketcap before this but now I have a new found respect even if I'm not sure "who's right". If we take the stock market for example the marketcap is composed of public available shares. CMC has to list so many projects with so many different and nuances that I don't understand why it's always under fire (I remember some recent criticism from the SIA team for example). To me it's right down impossible to have a standard, however I can see how it should be easier to sort projects by different rules or group them together.

[tempus]

https://coinmarketcap.com/currencies/lykke vs https://www.lykke.com/city/invest adjustement

Around $20 Millions market cap release this night to adjust Coinmarketcap with Trading wallets.

By reading discussions, Lykke has plan to release all coins after the Assembly, but CMC don't agree. Do you think this change is a compromise that Lykke have made with CMC?

Lykke told CMC about the transfer supply from old coinprism-addresses to the trading-section before, but once it happened, CMC back-updated and displayed the old number. I don't know if there is a new status but yes, in their opinion only the supply that was sold to the public should be displayed as circulating supply.

But, the most important aspect about that is transparency about the total value (total supply multiplied with price), because Lykke first got some critique that only what was sold to the public was displayed as "marketcap" (CMC changed that later to circulating supply) and then there also have been some critiques about the transfer.

And on the Invest-page, independently on what is in the trading or private section or coinprism addresses, the total value is displayed as marketcap now so that everybody can check on one look.

Man, I triggered the settlement today: that means I frozen those lkky1 for one year from now? Or have more implication?

Yes, it means that you'll get LKK in 365 days (1:1 for LKK1Y).

If you go on settings --> history you should see an incoming transfer plus date of settlement (July 16, 2018).

[cryptoonion888]

Yes, it means that you'll get LKK in 365 days (1:1 for LKK1Y).

If you go on settings --> history you should see an incoming transfer plus date of settlement (July 16, 2018).

Thanks Mann, lets hope this capital injection bring some tranquility to the shareholders... (EDIT) I personally think is a good gesture.

Another silly question: Every lykke wallet is, at the end, a bitcoin address, right? If this is the case, and a split happens (two or three blockchains) does it give us any right over the split result?

[mtnsaa]

Yes, it means that you'll get LKK in 365 days (1:1 for LKK1Y).

If you go on settings --> history you should see an incoming transfer plus date of settlement (July 16, 2018).

Thanks Mann, lets hope this capital injection bring some tranquility to the shareholders... (EDIT) I personally think is a good gesture.

Another silly question: Every lykke wallet is, at the end, a bitcoin address, right? If this is the case, and a split happens (two or three blockchains) does it give us any right over the split result?

Sergey Ivliev recently answered a similar question at Lykke's Telegram group:

In case of a hard fork (though unlikely) Lykke will support both chains and make a market of both versions of BTC. Colored coins will be supported only on one of the chains, which is going to have majority of the hash rate

[DKexer]

Still hodling since ICO, have faith in this one. 

[doctor-s]

I really wish coinmarketcap would display the true market cap instead of the free float, it's very misleading since pretty much the entire crypto space uses that website

If we take the stock market for example the marketcap is composed of public available shares. CMC has to list so many projects with so many different and nuances that I don't understand why it's always under fire

I don't see it that way. The stock market is not the cryptomarket. You don't have regularly released shares every X minutes, you don't have shares "lock up in smart contracts". When shares are held by founders or original investors, they are considered in the market cap calculation.

Shares are standardised. Coins aren't. That's why they should go with the total current supply = market cap, not free float. Free floats up for interpretation anyway as you can see with Lykke.  There's tonnes of other coins out there where the "founder coins" are counted, but LKK coins aren't.

To me, it makes no difference, but I really dislike how misleading it is for other people who rely on coinmarketcap.

It makes valuations crazy. Look at something like BITOK. I have no idea what it is, pretty sure it's just a scamcoin, but it's value is utterly stupid because coinmarketcap hasn't given it a circulating supply value and thus it's ignored in their calcs. If you did the total supply market cap it's value was $100,000,000,000. Somebody figured that out 2 or 3 days ago and the price cratered from $50 to $0.16. But this is the madness that happens when values aren't calculated properly.

[tempus]

I really wish coinmarketcap would display the true market cap instead of the free float, it's very misleading since pretty much the entire crypto space uses that website

If we take the stock market for example the marketcap is composed of public available shares. CMC has to list so many projects with so many different and nuances that I don't understand why it's always under fire

I don't see it that way. The stock market is not the cryptomarket. You don't have regularly released shares every X minutes, you don't have shares "lock up in smart contracts". When shares are held by founders or original investors, they are considered in the market cap calculation.

Shares are standardised. Coins aren't. That's why they should go with the total current supply = market cap, not free float. Free floats up for interpretation anyway as you can see with Lykke.  There's tonnes of other coins out there where the "founder coins" are counted, but LKK coins aren't.

To me, it makes no difference, but I really dislike how misleading it is for other people who rely on coinmarketcap.

It makes valuations crazy. Look at something like BITOK. I have no idea what it is, pretty sure it's just a scamcoin, but it's value is utterly stupid because coinmarketcap hasn't given it a circulating supply value and thus it's ignored in their calcs. If you did the total supply market cap it's value was $100,000,000,000. Somebody figured that out 2 or 3 days ago and the price cratered from $50 to $0.16. But this is the madness that happens when values aren't calculated properly.

I also was surprised to see BITOK on number 1 by marketcap on Bravenewcoin some time ago. Also not sure what it is but yeah, doesn't look good.

Bravenewcoin is better than CMC in my opinion, also gives more details about charts etc.:

https://bravenewcoin.com/market-cap/ (sorted by volume but by clicking on marketcap it's possible to get that overview as well)

https://bravenewcoin.com/lykke#Trading-Pairs


The problem is always that Crypto-projects are indeed not standardised, there are many different economical designs out there and it's not possible for sites like CMC to find the one way that is precise for all. But either way I think that it's always best to learn enough about a project, the team behind, economical structure etc. and out of multiple sources.