[ANN] HEAT: 3.0 crypto*multisig fiat*a2a hft*1000tps*DSA*PoS+PoP*e2ee chat*

[robbyx]

I sent bitcoin from my Coinbase account , I can get my token ?

It could be problematic, depending on whether coinbase keeps that bitcoin address active. Please ensure that address is available for your access later. Send me a private message to discuss any details.

ok,done
Can you tell other users not to send from Coinbase? It will be good

[verymuchso]

Some late night nerd-porn for the coders  
 
Who can guess what these guys have to do with HEAT?

http://chronicle.software/

Tip:
It has something to do with HFT (High Frequency Trading).

But seriously:
These guys deserve the exposure, truly amazing piece of tech.

[tempus]

I think tempus has raised some important questions here.  I look forward to seeing some proper responses.  So far they seem poorly thought out.

Could you rephrase a question whose answer you consider poorly thought out?

I think that was a poor choice of words on my behalf.  What I meant was that some of the responses lack specific details, however, it may be that you have already posted answers that I have missed or that some things have not been finalised yet.

The thing that I would really like more clarity on is why you think KYC/AML is not required for the HEAT tokens given the presence of fiat gateways?  Have you had any legal advice on this matter?  I think the fact that you will have conventional fiat funding rounds/shares is likely to make this project stand out even more to the financial authorities.  Like I said some more details on the reasoning here would be useful for investors.

As I understand it he was refering only to the token it self which isnt any different from owning any other crypto token/currency. HEAT tokens doesnt grant you ownership of the company so they dont have anything to do with the IPO.
I think the fiat gateways would be handled by another company but integrated in the HEAT software.
For the IPO I am sure the terms will be a lot different and not anonymous.

Ofc this is only how I read the answers and it might be wrong.

The problem I see is:

1. This project does not want to be just a "Coin-project". It's not that much about the token. They sell it, yes. But they want to develop a decentralized exchange.

2. They claim that it will be about Fiat. It's not just said between the lines, they write it into the subject:
Re: [ANN ICO] HEAT: 3.0 crypto*multisig fiat*a2a hft*1000tps*DSA*PoS+PoP*e2ee chat*


3. But of course, they say it in the post as well:

LICENSED MULTISIG FIAT WALLET

The unique HEAT crypto client provides access to major cryptocurrencies including BTC, ETH, FIMK and NXT. It also allows creation, transfer and trade of any custom assets created by operators of any size. Having multi-sig for currencies whose tech is capable of such - the client thus supports fiat money accounts secured with multi-sig private keys. HEAT Ledger Ltd has joint venture agreements in place with EU wide money transmitter license pending, making the prospect of transferring real fiat money in a cryptographic ledger a reality. One of the first, if not THE first - but certainly the first multi-sig fiat!
  

4. So it's definitely meant as incentive to buy into the ICO.

5. If they can't explain how to do that - hmm... what is it? A promise to lead ppl into buying the ICO. Not more.


And it's not just about that subject. All questions I had I needed to ask and there was nearly no answer that was convincing for me personally. No problem if others have another opinion. But it's pretty obvious that most questions are more about the market after the ICO, like "will there be a buy-wall?". And they don't even want to speak about their project.
 
And to say:

I think tempus has raised some important questions here.  I look forward to seeing some proper responses.  So far they seem poorly thought out.

Could you rephrase a question whose answer you consider poorly thought out?

...is again weak. Because nothing needs to be "rephrased". There are two long posts without any answer!

About regulatory issues: https://bitcointalk.org/index.php?topic=1543991.msg15561379#msg15561379
About the token and the economical design: https://bitcointalk.org/index.php?topic=1543991.msg15561785#msg15561785


Or the reaction on you: "That's spot on! Thanks!"

It's simply not true.


And if they can't even provide a Whitepaper it's not a good sign that a guy like me wrote more lines about their project today than they did - That's kind of weird, because they get all the money.

[Eliphaz Fimk]

There are two long posts without any answer!

Are you on something, or just working for Factom? Keep on pumping this thread, it's ok.

For other followers we're happy to answer questions about anything related to HEAT ICO, structuring or tech that may be unclear. Many advanced parts of the project haven't been discussed and that can be done here before the whitepaper is out.

[geotom]

Can I have someone from the project to answer my question rather than the local sarcastic wanker?

You really are a moron.  You don't understand the meaning of sarcasm and you don't understand that your own statement proves that you can't use a Jaxx wallet.  Get a brain before you invest in anything and maybe a dictionary so you know what sarcasm is too.

Troll. Ignored.

[idolacchacked]

will it start trading on ccex soons  ICO is done?

Should be. Withdrawals of course not available until HEAT livenet client is out.

will there be buy wall in place ?

The HEAT team is not planning to engage in such market manipulations.

The ICO is round 1 funding for a Fintech startup company. Quickly after round 1 there'll be round 2, which will be paid fully in EUR (and in options received by round 1 investors). Round 2 distributes stock capital to external shareholders, who will seek profitable exit through trade on HEAT's own trading platform, or funding round 3 arranged in 2017.

Different from your usual ICO, the cryptocurrency funding phase in all is just the beginning of the fintech startup company. The HEAT token will form the core feature of the company's service suite, with projected value appreciation on par with the company shares.

please explain about the funding rounds ...may be just me but i need a clear picture

[Soul_eater_123]

Troll. Ignored.

Lol.  Only morons need to post that they are ignoring you.

[Eliphaz Fimk]

please explain about the funding rounds ...may be just me but i need a clear picture

That's valid, it's not out in detail yet. Separate papers will be released after the ICO has been fully accounted for in August.

Round 1: ICO investments Jul 11th - Aug 8th. Target amount $500 000 to $3M
Round 2: Company stock IPO, October - November 2016. Target amount $500 000 to $1.5M

HEAT tokens will entitle their holders for options on IPO. These options can be used to obtain discount for IPO company shares, at a minimum 50% off from the price offered to non-option holders.

Exact amounts of HEAT required for one stock option are calculated after ICO.

... August 2016 -> Profit making business
... Late 2016 -> Ltd Company shares traded on the HEAT platform
[Round 3 in 2017, with potential exit for 2nd round investors]
[Round 4 would be company acquisition buyout in 2018. Targets will have to be evaluated then]

Rounds 1 is in progress, round 2 has been decided. Rounds 3, 4 or both aren't mandatory - business may flourish without large venture capital. However it won't be rare that attractive fintech companies receive acquisition / investment offers too good to pass by.

[tempus]

There are two long posts without any answer!

Are you on something, or just working for Factom? Keep on pumping this thread, it's ok.

For other followers we're happy to answer questions about anything related to HEAT ICO, structuring or tech that may be unclear. Many advanced parts of the project haven't been discussed and that can be done here before the whitepaper is out.

You still don't get the point. I'm honest and if you read back how I started: I was very friendly and cautious!

My first lines were this:

"It's kind of hard to get an overview here, at least for me. I have a few questions, including a little "sorry" if they are already answered but I didn't recognize.

(...) "
https://bitcointalk.org/index.php?topic=1543991.msg15556402#msg15556402

Because I really was interested. I hoped that this could be a project I would believe in and I would have invested if. But: I never just buy. I want to know and to understand what I buy. And of course, I also pay some attention on reactions on questions. And if I ask 3 questions and 2 are important but just the one that is not that important is answered while the other ones are ignored - what would you think? Ah, yes: Your partner has no proper knowledge. Kind of self-destructive reply, right? What does that tell me? I could point that out pretty exactly!

For me Crypto is not a game. I don't want to count just on market-reactions I have no influence on. And just by the way: This is even bad regarding marketing. Somehow you guys got an PR-article on Forbes and my guess is that you have some good connections. But man, you guys are even lazy as hell. No Whitepaper prepared and instead of answering questions about your project you try to attack me by implicating I would work for Factom. I tell you this: I'm just a normal Investor in Factom and if this would be convincing I would even have sold some Factoids to buy into your ICO! I plan to distribute the normal risk a little bit more. But of course, I won't do that. I need to wait for another opportunity.

And just by the way, maybe some Feedback could help you what guys like me would buy:

1. If the basic idea is convincing in my opinion (I like the idea of decentralized exchange)
2. If I see that the presentation is well thought out. If I see accuracy in that - it tells me more about how somebody works
3. If I read the whitepaper and see the same: accuracy
4. If I analyze communication and see real self-confidence, natural self-confidence - not arrogance. Arrogance always hides something
5. If questions are answered - simply on point. If not, it's at least possible that it's a red flag if it's an important question
6. I focus very much on the economical side because even if the tech is good, economical weaknesses can end a project (DAO would have been even weak without attack/"hack" - and a risk for Ethereum)
7. If I see hard work behind it all. It's part of "accuracy" but before all: It's the opposite of "no whitepaper" (and some other things)
8. If there is a good marketing-strategy it's also good


And what do you think in which points is this project strong? Point 1. The idea is interesting. But that is nothing without the other points. And maybe, which I can't know, you are talented coders. But it's hard to believe that you are accurate coders and hard working coders. And just by the way: The first I recognized and did not like is the website. Not just that it doesn't provide much infos. It's a really bad design. Not speaking about "looks bad". It's a not useful design. The second what I recognized is: The explanations are not good. Why? Not accurate. I always thought: Am I really too stupid to figure out some basic infos or what the hell is this? That's why I started carefully!

So, if you still want to believe I came to spread FUD or hype Factom or that I even work for Factom - your choice.


And again I pointed my perspective out more accurate, more diligent, without any dishonesty and with more informations. Is that arrogant? No. It's just true. You want money first, but you don't want to work too much for it. Hard to believe that you'll want to work more after you have the money.  



 

[idolacchacked]

"That's valid, it's not out in detail yet. Separate papers will be released after the ICO has been fully accounted for in August."

i would like to know before i buy in to you ico not after... reason for me asking now

what you are saying is give you the money first and you will let me know later ... i dont think its the way run a transparent funding round

[Eliphaz Fimk]

i would like to know before i buy in to you ico not after... reason for me asking now

My explanation followed that first paragraph. Anything there that remains unclear please?

[Relaxedsense]

I think its best for everyone if Whitepaper is out ASAP

[vlight]

Limiting the amount they take in is a great idea. Then the markets can allow the masses to join at a reasonable market cap.

Fixed prices are generally a bad thing.

Opinions... not mutually exclusive despite looking such.
We found fixed prices with max target more fair and modest.

Laddering, that's just the spirit of the ages. Time based laddering feels ridiculous. Demand based is natural.

This is just only good for insiders. Doesn't seem fair at all. But that just from my perspective. Good luck with the project though

[Eliphaz Fimk]

just only good for insiders. Doesn't seem fair at all. But that just from my perspective. Good luck with the project though

I'd consider a pre-specified investment limits less "greedy", thus more "fair" than no limit that accepts all the money poured in, even when the company wouldn't have plans about what to do with the money.

Perhaps you have different criteria.

Thanks! 

[dev0tion]

Looks promising, bought a few on C-Cex.
I like that one of the devs is Dutch, that way at least we know the ICO/IPO funds wont be spend too fast .

[verymuchso]

Looks promising, bought a few on C-Cex.
I like that one of the devs is Dutch, that way at least we know the ICO/IPO funds wont be spend too fast .

Our reputation exceeds us. 

[cebb]

Few questions for the Dev team

1) How much BTC was raised in FIMK IPO?
2) Why the price of FIMK have always been below ICO price after the launch. Also why steady decline in FIMK price since the Launch?
3) How do you justify more than 10 times increase in price tag of your technology just by rebranding FIMK to HEAT? (FIMK marketcap a month ago was 200 BTC where as you want to raise 2500 BTC from HEAT IPO)? Whats in it for the IPO investors if you have already pumped the price of your technology 12 times for this IPO. Most likely HEAT price will fall below IPO price then why should I invest in IPO?

[kokokoin]

and what do you do with coins not sold?

The HEAT not reserved? All 25 Million HEAT will be distributed to the pledgers. So in the case of not sold out ICO, each investor will receive a higher stake.

If you will not sell all 25 mil HEAT and will rise stakes of all investors, how will i get my additional HEAT if i am buying on alcurex exchange?

[tomkat]

Your credibility (coming from the proper sequence of actions) would be answering for you...

While acknowledging the sub-optimal process sequence, we're counting on this to assist with the credibility

https://github.com/fimkrypto/

It's good to notice we're not looking to max out disproportionally with the ICO. It's specifically designed for reasonable sum range to fund for the company and to assist in the 2nd round IPO. Based on that, the flow currently looks fine!

Ok, so you're going to collect 300+ millions (some 60%) of FIMK , right? what for...?

Still waiting for an answer to the question above...

What is the purpose of collecting millions of FIMK?
It's significant amount of unspendable (or hardly spendable) assets, so you're actually reducing your ICO income.
Do devs own any FIMK assets?

[kokokoin]

What is the purpose of collecting millions of FIMK?
It's significant amount of unspendable (or hardly spendable) assets, so you're actually reducing your ICO income.
Do devs own any FIMK assets?

I think developers owned big part of FIMK and made it accepted in their ICO to increase their stake in HEAT.