[ANN - Pre-ICO] BlockPay - Zero Cost, digital currency Point-Of-Sale systems

[Sharma]

Another great looking project.I hope it get success and here to stay for long.
I would like to do Hindi translation if not already done.Please pm me if I am allowed.thanks and best wishes

[1713997027]

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[1713997027]

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[1713997027]

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[Crpto4$]

OP,

I have some underwriting experience, IPO & secondaries, and can tell you this is insane:

Limited Amount! Great discounts available in this pre-ICO, all based on Opening rate of 2017 ICO

Phase1:   600,000 tokens   @ 1:1.20 OPENPOS tokens/each   Special Buyback
Phase2:   1,400,000 tokens   @ 0.000288 BTC tokens/each   42.40% Discount
Phase3:   3,000,000 tokens   @ 0.000360 BTC tokens/each   28% Discount
Phase4:   2nd ICO   @ 0.000500 BTC tokens/each   Initial Price


Here are the facts:

A. YOU don't know when the secondary will take place. Timing is contingent on future developments. Unless you are purporting to know the future, you don't know.

B. YOU DON't KNOW where any secondary offering will be priced. My best guess is that it is priced at some discount (10-30% ??) to the PREVAILING MARKET.  If the prevailing market is .0004 btc per, and you absolutely must raise cash, likely the new tokens will be offered at a significant discount to 0.0004. IF the prevailing market is closer to 0.01 btc per, your offer price will be much different, but again likely at some discount to market. It is absolutely insane for you to try and state where the market will be over the entirety of 2017. Think about it like this: Are we to assume you will work to suppress prices if they exceed 0.0005 by a wide margin?!? Your current statement appears to imply this.

Please stop referencing a specific time and price for any secondary - and just acknowledge it is all contingent.

That said, I am ALL IN with the few coins I've not already committed elsewhere. Hope to sign up to your sig campaign when it gets underway.

:-)

according to your estimate phase 2 cost 0.000288 BTC  but when i go to the website for ico ,it shows 0.000360 BTC, so phase 2 already over?

[kellendil]

OP,

I have some underwriting experience, IPO & secondaries, and can tell you this is insane:

Limited Amount! Great discounts available in this pre-ICO, all based on Opening rate of 2017 ICO

Phase1:   600,000 tokens   @ 1:1.20 OPENPOS tokens/each   Special Buyback
Phase2:   1,400,000 tokens   @ 0.000288 BTC tokens/each   42.40% Discount
Phase3:   3,000,000 tokens   @ 0.000360 BTC tokens/each   28% Discount
Phase4:   2nd ICO   @ 0.000500 BTC tokens/each   Initial Price


Here are the facts:

A. YOU don't know when the secondary will take place. Timing is contingent on future developments. Unless you are purporting to know the future, you don't know.

B. YOU DON't KNOW where any secondary offering will be priced. My best guess is that it is priced at some discount (10-30% ??) to the PREVAILING MARKET.  If the prevailing market is .0004 btc per, and you absolutely must raise cash, likely the new tokens will be offered at a significant discount to 0.0004. IF the prevailing market is closer to 0.01 btc per, your offer price will be much different, but again likely at some discount to market. It is absolutely insane for you to try and state where the market will be over the entirety of 2017. Think about it like this: Are we to assume you will work to suppress prices if they exceed 0.0005 by a wide margin?!? Your current statement appears to imply this.

Please stop referencing a specific time and price for any secondary - and just acknowledge it is all contingent.

That said, I am ALL IN with the few coins I've not already committed elsewhere. Hope to sign up to your sig campaign when it gets underway.

:-)

according to your estimate phase 2 cost 0.000288 BTC  but when i go to the website for ico ,it shows 0.000360 BTC, so phase 2 already over?

Yeah phase 2 is already over all are sold

[-Greed-]

I was lucky to get in at 288. Hope guys deliver a decent product in the near future..

[davidjcambra]

when can i trade on exchange?

[Chris4210x]

Statups update 24.08.2016: We successfully finished Phase 2 and are now in Phase 3. Amazing!!
Here is a short overview about the current crowdfunding amounts and our public addresses. All info at BlockPay Reserve

Going to answer all your questions now.

[golfhuso]

Statups update 24.08.2016: We successfully finished Phase 2 and are now in Phase 3. Amazing!!
Here is a short overview about the current crowdfunding amounts and our public addresses. All info at BlockPay Reserve

Going to answer all your questions now.

That was very fast. 

[Chris4210x]

And why do you sell coins instead of assets/shares like the OPENPOS shares on bitshares?

BlockPay tokens work like OPENPOS tokens. Just that OPENPOS is limited to all revenues from BlockPay for Odoo, BLOCKPAY token itself is open to all revenue streams of our company. Before we create a token for each product we build we decided it is better to set up a company-wide tokens and to let everybody participate.

Why couldn't shares be open to all revenue streams of the company? I don't understand this part.

And how are you going to pay out to tokenholders their share of the revenue stream? Wouldn't this be easier when you sell shares. I assume the bitshares platform will have some 'dividend'  function for shares!

And in what currency will the payout to tokenholders be (is it in blockpaytokens/bitcoin)? If in blockpaytokens. Who controls the upper limit of the supply of the blockpaytokens?

- Because OPENPOS tokens have been specially created for the BlockPay for Odoo 10 month ago.
- The BitShares Platform will immigrate the "dividend transaction" feature developed by the PeerPlays Platform: https://steemit.com/peerplays/@peerplays/how-does-the-profit-sharing-function-work . Sharedropping is done by a smart contract and costs less than a few cents to thousands of accounts. Truly amazing.
- The total amount of BlockPay tokens is capped with 100,000,000 Tokens.
- We will start with paying out BitUSD.

Is there an easy way to tell how much is left for Phase 2? I see 148.51541737 BTC in the OpenLedger account, so would that mean about 403 BTC - 148.5 BTC = 254.5 BTC? The 403 I took from multiplying 288 sats * number of coins available in phase 2.

Hi animalraom, I published a short overview on our website with the current balances and wallets to watch. Please check https://blockpay.ch/newsroom/investor-relations/blockpay-reserves/

when can i trade on exchange?

Hi davidjcambra,

the BlockPay tokens will be distributed at the end of phase 3. You will be able to trade on OpenLedger first, more exchanges will be added over time. We have to come to an agreement that the centralized exchanges pay the profits forward.

[Sharma]

What does zero cost means? does it mean zero transaction cost or what?sorry for being posing a noob question

[roncar]

hello dev, sent pm.. pls read. thanks

[animalroam]

Please take a look at the Slack when you have the chance. I want to make sure the rate on the email receipt is the final rate.

[AltcoinScamfinder]

OP,

I have some underwriting experience, IPO & secondaries, and can tell you this is insane:

Limited Amount! Great discounts available in this pre-ICO, all based on Opening rate of 2017 ICO

Phase1:   600,000 tokens   @ 1:1.20 OPENPOS tokens/each   Special Buyback
Phase2:   1,400,000 tokens   @ 0.000288 BTC tokens/each   42.40% Discount
Phase3:   3,000,000 tokens   @ 0.000360 BTC tokens/each   28% Discount
Phase4:   2nd ICO   @ 0.000500 BTC tokens/each   Initial Price


Here are the facts:

A. YOU don't know when the secondary will take place. Timing is contingent on future developments. Unless you are purporting to know the future, you don't know.

B. YOU DON't KNOW where any secondary offering will be priced. My best guess is that it is priced at some discount (10-30% ??) to the PREVAILING MARKET.  If the prevailing market is .0004 btc per, and you absolutely must raise cash, likely the new tokens will be offered at a significant discount to 0.0004. IF the prevailing market is closer to 0.01 btc per, your offer price will be much different, but again likely at some discount to market. It is absolutely insane for you to try and state where the market will be over the entirety of 2017. Think about it like this: Are we to assume you will work to suppress prices if they exceed 0.0005 by a wide margin?!? Your current statement appears to imply this.

Please stop referencing a specific time and price for any secondary - and just acknowledge it is all contingent.

That said, I am ALL IN with the few coins I've not already committed elsewhere. Hope to sign up to your sig campaign when it gets underway.

:-)

according to your estimate phase 2 cost 0.000288 BTC  but when i go to the website for ico ,it shows 0.000360 BTC, so phase 2 already over?

Same question here. How was this not communicated via the sale site? I send a bit ago and it still said Phase 2.

I would like to refund my BTC as I am not interested in Phase 3 price.

I checked the storage addresses before sending and they did not contain 400 BTC total.

Congratulations on the success, but at 36 I am not sure I want to purchase tokens.

Please pm me.

[golfhuso]

And why do you sell coins instead of assets/shares like the OPENPOS shares on bitshares?

BlockPay tokens work like OPENPOS tokens. Just that OPENPOS is limited to all revenues from BlockPay for Odoo, BLOCKPAY token itself is open to all revenue streams of our company. Before we create a token for each product we build we decided it is better to set up a company-wide tokens and to let everybody participate.

Why couldn't shares be open to all revenue streams of the company? I don't understand this part.

And how are you going to pay out to tokenholders their share of the revenue stream? Wouldn't this be easier when you sell shares. I assume the bitshares platform will have some 'dividend'  function for shares!

And in what currency will the payout to tokenholders be (is it in blockpaytokens/bitcoin)? If in blockpaytokens. Who controls the upper limit of the supply of the blockpaytokens?

- Because OPENPOS tokens have been specially created for the BlockPay for Odoo 10 month ago.
- The BitShares Platform will immigrate the "dividend transaction" feature developed by the PeerPlays Platform: https://steemit.com/peerplays/@peerplays/how-does-the-profit-sharing-function-work . Sharedropping is done by a smart contract and costs less than a few cents to thousands of accounts. Truly amazing.
- The total amount of BlockPay tokens is capped with 100,000,000 Tokens.
- We will start with paying out BitUSD.

Is there an easy way to tell how much is left for Phase 2? I see 148.51541737 BTC in the OpenLedger account, so would that mean about 403 BTC - 148.5 BTC = 254.5 BTC? The 403 I took from multiplying 288 sats * number of coins available in phase 2.

Hi animalraom, I published a short overview on our website with the current balances and wallets to watch. Please check https://blockpay.ch/newsroom/investor-relations/blockpay-reserves/

when can i trade on exchange?

Hi davidjcambra,

the BlockPay tokens will be distributed at the end of phase 3. You will be able to trade on OpenLedger first, more exchanges will be added over time. We have to come to an agreement that the centralized exchanges pay the profits forward.

I also want to know what is the reason why you decide to pull "the realtime progress of token sold" down. Should we supposed to be transparency about this?

[Chris4210x]

What does zero cost means? does it mean zero transaction cost or what?sorry for being posing a noob question

Hi Sharma,

thank you for your question. Please go a few pages back and read my detailed answers to this question. Basically, we charge a small fee to the consumer and cut all fees for merchants. 

hello dev, sent pm.. pls read. thanks

Hi Roncar, thank you for your great work. Funds are on its way.

Please take a look at the Slack when you have the chance. I want to make sure the rate on the email receipt is the final rate.

Hi Animalroam, See you in slack.

according to your estimate phase 2 cost 0.000288 BTC  but when i go to the website for ico ,it shows 0.000360 BTC, so phase 2 already over?

Same question here. How was this not communicated via the sale site? I send a bit ago and it still said Phase 2.

I would like to refund my BTC as I am not interested in Phase 3 price.

I checked the storage addresses before sending and they did not contain 400 BTC total.

Congratulations on the success, but at 36 I am not sure I want to purchase tokens.

Please pm me.

Hi AltcoinScamfinder & Crpto4$,

we sold all 1,400,000 Tokens at around 7 am UTC+1 and moved into Phase 3. The order module changed automatically, the description text did not since that is hard coded.

Altcoinscamfinder, I send you a pm, please check.

I also want to know what is the reason why you decide to pull "the realtime progress of token sold" down. Should we supposed to be transparency about this?

Hi golfhuso,

unfortunately, I had to pull the real time counter because the calculation code was not right. It picked up the wrong numbers and did not consider the multi sig cold storage. To avoid confusion I added all our crowdfunding addresses to the site, you can run the numbers anytime. You find the details here: https://blockpay.ch/newsroom/investor-relations/blockpay-reserves/

[Captain_Picard]

So, after almost an hour of research this is the picture of the blockpay ICO I have so far... some prior ico token holders receive 50% of a .5% transaction fee on merchant sales, ambassadors receive 15%, leaving 35% for company expenses and blockpay token holders and token holders will be paid last in this hierarchy with no guarantee or even agreement that any percentage amount will be paid to blockpay token holders. This means any return on investment is up to the personal discretion of the management team, and they and everyone else get paid first. Tokens are not needed to power any app so their value is at the mercy of discretionary dev spending and 'rewards'. I don't see why an investor would make an investment in such a blind pledge without anything written or coded to offer any assurance of getting their money back plus. Titan20 has repeatedly asked for clarification on this and so far just a lot of 'trust us', it's a great idea. I don't dispute that your idea is great and your concepts might work, but I greatly question the risk/reward offered to token buyers with zero hard figures detailing the value proposition to token holders.

Edit: I believe I also picked up somewhere that this first batch of icos will only offer 6.5% of the total amount of tokens, meaning current investors are also subject to dilution risk down the road, the rate of which is also at mgt discretion?

[AltcoinScamfinder]

OP,

I have some underwriting experience, IPO & secondaries, and can tell you this is insane:

Limited Amount! Great discounts available in this pre-ICO, all based on Opening rate of 2017 ICO

Phase1:   600,000 tokens   @ 1:1.20 OPENPOS tokens/each   Special Buyback
Phase2:   1,400,000 tokens   @ 0.000288 BTC tokens/each   42.40% Discount
Phase3:   3,000,000 tokens   @ 0.000360 BTC tokens/each   28% Discount
Phase4:   2nd ICO   @ 0.000500 BTC tokens/each   Initial Price


Here are the facts:

A. YOU don't know when the secondary will take place. Timing is contingent on future developments. Unless you are purporting to know the future, you don't know.

B. YOU DON't KNOW where any secondary offering will be priced. My best guess is that it is priced at some discount (10-30% ??) to the PREVAILING MARKET.  If the prevailing market is .0004 btc per, and you absolutely must raise cash, likely the new tokens will be offered at a significant discount to 0.0004. IF the prevailing market is closer to 0.01 btc per, your offer price will be much different, but again likely at some discount to market. It is absolutely insane for you to try and state where the market will be over the entirety of 2017. Think about it like this: Are we to assume you will work to suppress prices if they exceed 0.0005 by a wide margin?!? Your current statement appears to imply this.

Please stop referencing a specific time and price for any secondary - and just acknowledge it is all contingent.

That said, I am ALL IN with the few coins I've not already committed elsewhere. Hope to sign up to your sig campaign when it gets underway.

:-)

It's a little bad form to say "don't make assumptions" only to follow that with your own assumptions.

The price and time table is right there. No one is guessing except you.

[siameze]

Hi dev.

I just want to make sure that the deal we made is still on and I can still get back my 45% of my btc investment. Let me know.

[Indamuck]

So, after almost an hour of research this is the picture of the blockpay ICO I have so far... some prior ico token holders receive 50% of a .5% transaction fee on merchant sales, ambassadors receive 15%, leaving 35% for company expenses and blockpay token holders and token holders will be paid last in this hierarchy with no guarantee or even agreement that any percentage amount will be paid to blockpay token holders. This means any return on investment is up to the personal discretion of the management team, and they and everyone else get paid first. Tokens are not needed to power any app so their value is at the mercy of discretionary dev spending and 'rewards'. I don't see why an investor would make an investment in such a blind pledge without anything written or coded to offer any assurance of getting their money back plus. Titan20 has repeatedly asked for clarification on this and so far just a lot of 'trust us', it's a great idea. I don't dispute that your idea is great and your concepts might work, but I greatly question the risk/reward offered to token buyers with zero hard figures detailing the value proposition to token holders.

Edit: I believe I also picked up somewhere that this first batch of icos will only offer 6.5% of the total amount of tokens, meaning current investors are also subject to dilution risk down the road, the rate of which is also at mgt discretion?

Dude, logic and common sense is not the right way to frame this. Think internet bubble circa 1997-2000. When we push the price to 0.10 btc per, all them other facts that you so kindly point out won't mean jack squat. If it makes you more comfortable then invest in treasury notes. With notes all your returns are contractually defined. ;-)

[placebo]

Love this project. Can be a big one.

[enlightenment]

dev ,how costs ?