[ANN] ION [ION] | POS 3.0 | Mobile Gaming | Join the ionomy today!

[suchmoon]

The Ionomy vision will be become clear soon!!!

All your coins are belong to us? That the vision?

[1714201689]

1714201689

[1714201689]

1714201689

[WildShark]

The Ionomy vision will be become clear soon!!!

All your coins are belong to us? That the vision?

No, the ION coin belongs to the investor and can be held in a staking wallet, a masternode or on the Ionomy platform.

[clownius]

The Ionomy vision will be become clear soon!!!

All your coins are belong to us? That the vision?

No, the ION coin belongs to the investor and can be held in a staking wallet, a masternode or on the Ionomy platform.

Well as its in no way related to the game what is the point of the coin?

[CryptoBuds]

The Ionomy vision will be become clear soon!!!

All your coins are belong to us? That the vision?

No, the ION coin belongs to the investor and can be held in a staking wallet, a masternode or on the Ionomy platform.

Well as its in no way related to the game what is the point of the coin?

To make money, but it's not about the money. Contradicting, I know but that is what I hear.

[CryptoBuds]

In all seriousness from what I gather, the coin was needed for an ICO to raise funds for the game development.

[suchmoon]

In all seriousness from what I gather, the coin was needed for an ICO to raise funds for the game development.

True story, I got a picture from one of their development strategy brainstorming quality assurance development meetings:

[WildShark]

A quick summary status report taken from a user on Ionomy slack for the Ionomy exchange:

price is holding real nice, market may run short on sellers, i think we are over the staker release dump and this is without the game / API release
the fairly heavy buying over the last few days has left the sell reels look a little thin at the 25k area which is why buy support is starting to build on the buy reels

For more information, visit/join the Ionomy @ https://ionomy.slack.com/messages/general/details/

[rdewilde]

Not gonna play the Garza XPY guessing game. If the team isn't gonna present the information after questions were asked and asked with civility, o well. I'd like to see the project succeed but sadly this project feels like a carbon copy of the past XPY project.

Team ION doesn't want to be upfront and transparent. They want to make their XPY bag holders whole and to say "I told you so". Which is fucked up, but so be it.

True. If you really want answers, ask directly on slack and you'll probably will succeed

[rdewilde]

In all seriousness from what I gather, the coin was needed for an ICO to raise funds for the game development.

No there's more to it. It needs development on the coincode. Ofcourse it is not impossible on existing coins, but this one has veto rights :-)

[rdewilde]

The Ionomy vision will be become clear soon!!!

All your coins are belong to us? That the vision?

No, the ION coin belongs to the investor and can be held in a staking wallet, a masternode or on the Ionomy platform.

Well as its in no way related to the game what is the point of the coin?

I'm no team ion, so this is my view on vision. Short term vision, launch games with api integration as proof of concept and ofcourse fun game, maybe some market buys.

Long term launch a game currency with functionality on blockchain/coincode and platform. There are much details and possibilities here that i dont know or still has to be finalized in terms of vision (and development). To get an idea of context check gamecredits, breakout coin, etherplay and peerplay.

[rdewilde]

Not? I think that is exactly how it would/could work. You dont have to buy electrons, it is optional, probably using google pay or whatever. It is very common to buy ingame these days. You can buy all kind of stuff, also credits like farmbucks (farmville) or "gold coins" etc. I don't see how electrons would be any different?

There have been big exchanges (like https://www.virwox.com) around for a long time where you can buy/sell all kind of game credits. Not crypto money though. I never heard one of these games getting into trouble with regulation on it?

https://en.m.wikipedia.org/wiki/Economy_of_Second_Life#Legal_position_of_the_Linden_Dollar

That's my point. Regular in-game purchases in a popular game - fine. Convoluted redemption for electrons - meh, most users wouldn't bother, and if that's the main feature it would likely flop. Even if it somehow succeeds you have to wonder why it needs to be tied to crypto if there is nothing crypto about it. You buy or earn points, you redeem them for something or other, all that is off-chain, what does it have to do with cryptocurrency?

Now as far as regulation is concerned, in the US the SEC has established itself as the agency that investigates cryptocurrency investments for securities fraud. Coincidentally they also regulate crowdfunding. Not to mention FinCEN requirements. I know the elusive ionomy PTE is supposed to make it look like the US law doesn't apply but I doubt that with the principals and many investors residing in the US the agencies would see it that way.

Really the only chance to sneak under the regulatory radar would be for ionomy to remain obscure and irrelevant. They're doing a good job at that so far, I'll give them that.

Why would the "other stuff" need to be offchain?

I dunno the US legal priorities but in Europe I dont think anyone cares if the ingame purchased tokens are backed by a blockchain or not. Tokens are just tokens. It's important too have this clear before releasing anything ofcourse. I dont know the current state.

Got the feeling Ive been speculating too much, let me remind it is just my idea of how thing could work.

Also Ionomy is not the only crypto project that's monetizing ingame tokens backed by crypto blockchain.

[kken01]

currency implies a medium of exchange. have they confirmed electron exchange? (probably not... because otherwise they would have linked ion directly). remember they will be using apple/google to handle fiat that will indirectly give you something worth of value which is exchangeable... making it direct & exchangeable creates a whole host of problems


edit:
in europe esma is very much interested in such activities ( www.esma.europa.eu )

[CryptoBuds]

A quick summary status report taken from a user on Ionomy slack for the Ionomy exchange:

price is holding real nice, market may run short on sellers, i think we are over the staker release dump and this is without the game / API release
the fairly heavy buying over the last few days has left the sell reels look a little thin at the 25k area which is why buy support is starting to build on the buy reels

For more information, visit/join the Ionomy @ https://ionomy.slack.com/messages/general/details/

Boy does this sound like MrCoins babbling. Why doesn't he come here and give his own advice instead of having one of his henchmen post it?

Looks like the super shill that got most of you in this situation anyway, is back to giving his investment advice so he can manipulate his holding as he sees fit. Whatever MrCoins says on slack, 95% of the people hang on to his every word. Too funny.

He got you hooked, doesn't he sharky?

[suchmoon]

Why would the "other stuff" need to be offchain?

I dunno the US legal priorities but in Europe I dont think anyone cares if the ingame purchased tokens are backed by a blockchain or not. Tokens are just tokens. It's important too have this clear before releasing anything ofcourse. I dont know the current state.

Got the feeling Ive been speculating too much, let me remind it is just my idea of how thing could work.

Also Ionomy is not the only crypto project that's monetizing ingame tokens backed by crypto blockchain.

The blockchain itself is not so much the issue, except they're not really using it for anything. I don't know if it needs to be off-chain, just stating the fact that it IS almost entirely off-chain - ionomy, electrons, etc - nothing to do with the blockchain AFAICT.

The point is, they collected funds (converted into USD apparently), they call the bagholders "investors", they encourage to keep the funds on their website, they solicit (or at least their surrogates do) investments promising "profits", and they expect to make it big. Something's gotta give. They will have to start KYC-ing the bagholders and filing paperwork with the SEC, or they will have to cut the "investment" part off completely and become just a points/rewards system of some sort. Or stay irrelevant forever, I guess that's always an option.

[Rick_James]

Why would the "other stuff" need to be offchain?

I dunno the US legal priorities but in Europe I dont think anyone cares if the ingame purchased tokens are backed by a blockchain or not. Tokens are just tokens. It's important too have this clear before releasing anything ofcourse. I dont know the current state.

Got the feeling Ive been speculating too much, let me remind it is just my idea of how thing could work.

Also Ionomy is not the only crypto project that's monetizing ingame tokens backed by crypto blockchain.

The blockchain itself is not so much the issue, except they're not really using it for anything. I don't know if it needs to be off-chain, just stating the fact that it IS almost entirely off-chain - ionomy, electrons, etc - nothing to do with the blockchain AFAICT.

The point is, they collected funds (converted into USD apparently), they call the bagholders "investors", they encourage to keep the funds on their website, they solicit (or at least their surrogates do) investments promising "profits", and they expect to make it big. Something's gotta give. They will have to start KYC-ing the bagholders and filing paperwork with the SEC, or they will have to cut the "investment" part off completely and become just a points/rewards system of some sort. Or stay irrelevant forever, I guess that's always an option.

The point is, they collected funds (converted into USD apparently), they call the bagholders "investors", they encourage to keep the funds on their website, they solicit (or at least their surrogates do) investments promising "profits", and they expect to make it big. Something's gotta give. They will have to start KYC-ing the bagholders and filing paperwork with the SEC, or they will have to cut the "investment" part off completely and become just a points/rewards system of some sort. Or stay irrelevant forever, I guess that's always an option.

Trying to find some info about "investment" on the ionomy site, but no luck yet?

points/rewards =atoms/electrons?

[suchmoon]

Trying to find some info about "investment" on the ionomy site, but no luck yet?

points/rewards =atoms/electrons?

https://ionomy.com/about/how-it-works


Edited 2020-11-29 to fix a broken image

Not sure what your second question is supposed to mean, try adding some words.

[rdewilde]

Why would the "other stuff" need to be offchain?

I dunno the US legal priorities but in Europe I dont think anyone cares if the ingame purchased tokens are backed by a blockchain or not. Tokens are just tokens. It's important too have this clear before releasing anything ofcourse. I dont know the current state.

Got the feeling Ive been speculating too much, let me remind it is just my idea of how thing could work.

Also Ionomy is not the only crypto project that's monetizing ingame tokens backed by crypto blockchain.

The blockchain itself is not so much the issue, except they're not really using it for anything. I don't know if it needs to be off-chain, just stating the fact that it IS almost entirely off-chain - ionomy, electrons, etc - nothing to do with the blockchain AFAICT.

Fair point. It is an ultimate goal to move everything to the blockchain, but because of too little resources (for example time or devs) current version is not. This way the concept can move forward in the interest of endusers.

Blockchain and decentralisation would add a lot of awesomeness and trust to that, i agree.

The point is, they collected funds (converted into USD apparently), they call the bagholders "investors", they encourage to keep the funds on their website, they solicit (or at least their surrogates do) investments promising "profits", and they expect to make it big. Something's gotta give. They will have to start KYC-ing the bagholders and filing paperwork with the SEC, or they will have to cut the "investment" part off completely and become just a points/rewards system of some sort. Or stay irrelevant forever, I guess that's always an option.

I never heard someone from team ion promising profitability, especially not in short term. Ofcourse everybody wishes so. Thing I did hear directly is that they want to be around longterm (vs rushing, hyping and pumping).

I would say that complying with the rules would be preferrable. I know the team is keen on rules at least in the area where the company is based. I know too little to discuss on it. Hopefully others can as it is a very relevant subject to the project indeed, and to all crypto. I think you should take into account how other succesfull projects handled this.

[suchmoon]

I never heard someone from team ion promising profitability, especially not in short term. Ofcourse everybody wishes so. Thing I did hear directly is that they want to be longterm (vs rushing, hyping and pumping).

I would say that complying with the rules would be preferrable. I know the team is keen on rules at least in the area where the company is based. I know too little to discuss on it. Hopefully others can as it is a very relevant subject to the project indeed, and to all crypto. I think you should take into account how other succesfull projects handled this

I was referring to WildShark, who is obviously a clown but sadly at the same time the most vocal ionomy representative here and is pumping like there is no tomorrow.

I don't think being registered offshore is a legitimate way to bypass AML or securities laws. Long story short, in the US you can offer securities only to "accredited investors" (if you remember Garza's e-mails he was desperately trying to become one but didn't meet the assets/income requirements) or you have to go through a shitload of disclosures if you want to offer it to the general public. And AML requirements are a whole new can of worms.

As for other projects, I would guess that they fall into three major categories - carefully avoid any contact with fiat and don't mention "investment" anywhere; naively try to comply with all rules and get buried in paperwork; or just wing it and hope for the best. We all know how that last one works out :-)

I think I need to mention that I'm not a lawyer even if I may seem to be playing one on the intertubes.

[WildShark]

I never heard someone from team ion promising profitability, especially not in short term. Ofcourse everybody wishes so. Thing I did hear directly is that they want to be longterm (vs rushing, hyping and pumping).

I would say that complying with the rules would be preferrable. I know the team is keen on rules at least in the area where the company is based. I know too little to discuss on it. Hopefully others can as it is a very relevant subject to the project indeed, and to all crypto. I think you should take into account how other succesfull projects handled this

I was referring to WildShark, who is obviously a clown but sadly at the same time the most vocal ionomy representative here and is pumping like there is no tomorrow.

I don't think being registered offshore is a legitimate way to bypass AML or securities laws. Long story short, in the US you can offer securities only to "accredited investors" (if you remember Garza's e-mails he was desperately trying to become one but didn't meet the assets/income requirements) or you have to go through a shitload of disclosures if you want to offer it to the general public. And AML requirements are a whole new can of worms.

As for other projects, I would guess that they fall into three major categories - carefully avoid any contact with fiat and don't mention "investment" anywhere; naively try to comply with all rules and get buried in paperwork; or just wing it and hope for the best. We all know how that last one works out :-)

I think I need to mention that I'm not a lawyer even if I may seem to be playing one on the intertubes.

Thank you suchmoon, that's the nicest thing your have said about my ION promotional campaign effort on Bitcoin Talk!

[suchmoon]

Thank you suchmoon, that's the nicest thing your have said about my ION promotional campaign effort!

That's true, I'm so nice, invest with confidence.