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

[ridewithme]

Hi. I just learnt about this because I'm invested in jewels and I'm listening to the jewels show on beyondbitcoin but your dev is speaking first. It sounds like a interesting idea but is the only thing that's special here is the zero cost. What else does this offer over coinbase or shapeshit.

[Tinkerbell]

Will there be signature bounties?

[AltcoinScamfinder]

28 mil for project Wow this is impossible guys ) even waves don't collect so much money )

Waves also doesn't have a product, and they raised it all pre-launch. Quite different than raising expansion capital if you have a working product.

In my opinion.

[AltcoinScamfinder]

Phase1:   600,000 tokens       @ 1:1.20 OPENPOS tokens/each   Special Buyback
Phase2:   1,400,000 tokens     @ 0.000288 BTC =  403.2  BTC  
Phase3:   3,000,000 tokens     @ 0.000360 BTC = 1,080    BTC
Phase4:   95,000,000 tokens (in 2017)   @ 0.000500 BTC = 47500 BTC

Total of 48,983 BTC (not including Phase 1) = $28,116,242

So, yes they are asking for well over the $20 Million dollars, my concerns are justified, rational and realistic. It is silly to tell me to buy T-notes ...

This is exactly why I told OP that posting/projecting such specifics about a Phase 4 is absurd. It results in this pointless, and circuitous logic that because Phase 4 is impossibly large we have no business conducting a Phase 2 & 3. Phase 4 doesn't exist ... it is like you are protesting Santa Clause' skid marks. Quite pointless.


Here is the inside scoop guys. Blockpay++ will never get to a Phase 4. If things go well enough they will be acquired by a POS software vendor which can almost instantaneously deploy the software across millions of terminals and simultaneously coordinate an education campaign directed at its merchants. The acquirer will have no choice, and will gladly buyout token holders at a very handsome multiple of our original cost.

If it is an "inside scoop" then please provide documentation, otherwise let's stick to what we know. At the very least they have already stated their intention not to sell out. Words only I know, but it is their public statement. I do not want to undermine this project by letting rumor get the best of us, I do want answers to questions that seem to be ignored.  

Devs have already stated that the 2017 projections and prices are preliminary. Near time development is what is interesting. Expansion capital will happen if they succeed in shorter term.

YES! Please! Dont get lost in assumptions and speculation!
The CEO Chris Hering Chris4210x has already taken community feedback about this into his thoughts and consideration! See statement from AltcoinScamfinder above and here:

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

What if the price of Blockpay Tokens on the market exceeds your set ICO price of Phase 4??

Lets say I buy Blockpay tokens in Phase 1 today @ 0.000288 BTC tokens/each. Price rises to 0.001 on exchanges till 2017.
Assuming this, will the price of 2nd ICO still be @ 0.0005 BTC tokens/each?

Good question. I can not give you a qualified answer today yet. Let me come back to you.

Thats's alright! Thank you

I know a little about economics, business, marketing & communication. In my perception they doing a very good job in rolling out this business. Very communicative, transparent and public. And most importantly nowadays - they listen to the community!

Here is a pro tip for the traders: "If you can figure out which cryptos will have real world use, buy and hold those."


The facts:

"... there is a total of 100 million BlockPay tokens ever created. In the Pre-ICO only 6.5 million will be used in Phase 1 – 3, the rest will be locked into a reserve fund via multisig and used for a follow-up ICO." Source: https://blockpay.ch/newsroom/investor-relations/

After the Pre-ICO there will be on the market:

6,500,000 BlockPay tokens        --> 93,500,000 BlockPay tokens locked away

Since only 4,400,000 tokens are actually on sale through Phase 2 & Phase 3 BlockPay can raise in this Pre-ICO a total value of 1,483.20 BTC. Thats $860,256. (Calculating with $580.00/BTC)


Right now I am very happy with the idea of BlockPay, Echo & Stealth and watching excited from the sidelines what Chris & Rodrigo will bring up in the future.

Keep it up. Thank You.

Also important to remember that a second funding round would be expansion capital for a working  product/service.

Quite different than Lisk, Waves etc. That raised it all pre-launch with only a roadmap and dreams.

[Colombina]

Any bounty campaign? Twitter campaign, avatar campaign, facebook campaign?

[Chris4210x]

Sorry for the delays, Rodrigo and I were on a short business trip and we had really bad internet connection there. I am back to answer all your questions. Thx.

Will there be signature bounties?

Any bounty campaign? Twitter campaign, avatar campaign, facebook campaign?

Yes we have a special forum bounty program for the Bitcointalk forum. You can find the full program managed by SFR10 here: https://bitcointalk.org/index.php?topic=1594462.0


I was reading a lot of good points from you here. Yes, we are quite different to most other crowdfunding because we are raising capital for an existing, working product that we are promoting at local Bitcoin meetups, Bitcoin bars, restaurants and so on first. BlockPay is a piece of software for all of us. I really can´t wait to drop my plastic and use my phone for payments instead. So much easier and faster.

Here is a nice interview that I gave to Jamie Redman https://news.bitcoin.com/blockpay-businesses-zero-cost/

In comparison to the past big ICO´s Wave and LISK, that are asking to fund an idea, we are asking to fund the continued improvement and instant roll out of BlockPay so that you can use it at a place near you by the end of September 2016. Once we proved our product, we proved our business skills, we proved that we can streamline cryptocurrency adoption in the common markets, then we are ready to ask for the growth booster.

If the market is not ready for our products and cryptocurrencies, even 20 million in funding will not help us. 21, Coinbase, BitPay, and several other companies raised multi-millions but are doing little for mass adoption. They focus on a specific need within the Blockchain community. We are focusing on building easy tools that are based on Blockchain Technology and can be used by Crypto and regular people.

Andreas Antonopoulos already summarized it brilliantly. Bitcoin has been designed by geeks in the past, it is the time that crypto gets the fashion treatment. Next generation UI /UX design and marketing will hide all "scary" hashcodes, brainkey, mining, decentralization, terminologies and focus on easy to understand interfaces instead. The Circle wallet and the GetGem Chat are great steps forward in terms of design and user interface for Blockchain wallets.

[MartiniBlanco]

I was reading a lot of good points from you here. Yes, we are quite different to most other crowdfunding because we are raising capital for an existing, working product that we are promoting at local Bitcoin meetups, Bitcoin bars, restaurants and so on first. BlockPay is a piece of software for all of us. I really can´t wait to drop my plastic and use my phone for payments instead. So much easier and faster.

Here is a nice interview that I gave to Jamie Redman https://news.bitcoin.com/blockpay-businesses-zero-cost/

In comparison to the past big ICO´s Wave and LISK, that are asking to fund an idea, we are asking to fund the continued improvement and instant roll out of BlockPay so that you can use it at a place near you by the end of September 2016. Once we proved our product, we proved our business skills, we proved that we can streamline cryptocurrency adoption in the common markets, then we are ready to ask for the growth booster.

If the market is not ready for our products and cryptocurrencies, even 20 million in funding will not help us. 21, Coinbase, BitPay, and several other companies raised multi-millions but are doing little for mass adoption. They focus on a specific need within the Blockchain community. We are focusing on building easy tools that are based on Blockchain Technology and can be used by Crypto and regular people.

Andreas Antonopoulos already summarized it brilliantly. Bitcoin has been designed by geeks in the past, it is the time that crypto gets the fashion treatment. Next generation UI /UX design and marketing will hide all "scary" hashcodes, brainkey, mining, decentralization, terminologies and focus on easy to understand interfaces instead. The Circle wallet and the GetGem Chat are great steps forward in terms of design and user interface for Blockchain wallets.

Thank You Chris for your thourough answer. I like your view on the market, your approach and business mind. BlockPay has the potential of being a socalled "Killer App" imo ...
We'll see but Im in

[EBK1000]

Sorry, if this question has been asked before. If I choose to buy some BlockPay tokens, will I get some kind of interest / reward on my coins as the company grows? Or, what will give the tokens value and how will I be rewarded for holding the tokens? Or, is it just a matter of buy / sell or any dividends like shares? Thank you.

[capone1340]

Promising project, I believe it can become the paypal in the crypto world, I'm in with a few btc, and I would like to see the addres where ICO funds are deposited? Thanks

[lsqgoddess]

You tokens are too expensive actually, you know other good ico with much profit is low ico price, it prevents you to sell your coins. Be the "btc decides ico price" mode, AKA get the ico price because of btc raised.

[StarofBTC]

Promising project, I believe it can become the paypal in the crypto world, I'm in with a few btc, and I would like to see the addres where ICO funds are deposited? Thanks

See the OP properly. details about all invested money/sold out coins listed there.. or follow this link:
https://blockpay.ch/newsroom/investor-relations/blockpay-reserves/

You tokens are too expensive actually, you know other good ico with much profit is low ico price, it prevents you to sell your coins. Be the "btc decides ico price" mode, AKA get the ico price because of btc raised.

Looks like you don't know anything about it. if the price is higher than other altcoin's ICO, it is a good thing. it won't prevent seriosu investors to buy it. even I think it will more encourage people to invest here because when it get listed in the markets/exchanges the price will more reasanable.. buying shit coins with few satoshi have no sense.

[Chris4210x]

Sorry, if this question has been asked before. If I choose to buy some BlockPay tokens, will I get some kind of interest / reward on my coins as the company grows? Or, what will give the tokens value and how will I be rewarded for holding the tokens? Or, is it just a matter of buy / sell or any dividends like shares? Thank you.

Yes, you will get rewards in form of a profit cut from all our collected fees. The BlockPay tokens will be tradable so you can also speculate on the future price if you want. Please go through the last messages to see all details and also use the search function.

Promising project, I believe it can become the paypal in the crypto world, I'm in with a few btc, and I would like to see the addres where ICO funds are deposited? Thanks

Bingo

[capone1340]

They are considering listing the token in multiple exchange or just the already been select, any idea about it?

[happynorway]

4 phases? It looks an ambitious project, or can be considered a greedy project, I don't think you will get much funded, because you are too greedy

[titan20]

Ok let's do some calculations:

100 million coins x 0,0005 btc = 50.000 BTC.
50.000 BTC x 500 Euro = 25 million Euro's

So let's say i am an investor and would like to get a little more return on investment then a savings account.
I want a return of 3% per year.

25 million euro x 3% = 750.000,- euros

The company suggested that the tokenholders would get up to 15% of the commission of 0,5% that is charged to consumers for every transaction.

For the tokenholders to get a return on investment of 3% the company has to realize a transaction volume of 1.000.000.000 (1 billion) euro's per year.
(1.000.000.000 x 0,5% commission x 15% payout tokenholders = 750.000 euro)


1 billion euro of transaction volume! how much is that? Visa has around 50% of total global transaction volume for debit and credit card worth 3,3 trillion USD.
So with a transaction volume of 1 billion, blockpay would be small compared to Visacard which is 3300x bigger.
But the cryptospace has a marketcapitalisation of around 10 billion Euro.

So the succes of blockpay is hugely depended on the growth of the cryptocoin consumer.

If it reaches 1 billion transaction volume, i would say blockpay is very succesful. But even then the return on this high risk investment for tokenholders is a lousy 3%.

I am enthusiastic about this project and would love to participate. Because i think the cryptoscene could and should manage to become successful without Venture Capitalist from the 'real' world. But under these conditions it is more a donation then an investment. Don't get me wrong, i want you to become succesfull, but i will wait to invest in this coin when it hits the exchanges (at much lower prices).

Cheers! 
 

[ICOcount.com]

Ok let's do some calculations:

100 million coins x 0,0005 btc = 50.000 BTC.
50.000 BTC x 500 Euro = 25 million Euro's

So let's say i am an investor and would like to get a little more return on investment then a savings account.
I want a return of 3% per year.

25 million euro x 3% = 750.000,- euros

The company suggested that the tokenholders would get up to 15% of the commission of 0,5% that is charged to consumers for every transaction.

For the tokenholders to get a return on investment of 3% the company has to realize a transaction volume of 1.000.000.000 (1 billion) euro's per year.
(1.000.000.000 x 0,5% commission x 15% payout tokenholders = 750.000 euro)


1 billion euro of transaction volume! how much is that? Visa has around 50% of total global transaction volume for debit and credit card worth 3,3 trillion USD.
So with a transaction volume of 1 billion, blockpay would be small compared to Visacard which is 3300x bigger.
But the cryptospace has a marketcapitalisation of around 10 billion Euro.

So the succes of blockpay is hugely depended on the growth of the cryptocoin consumer.

If it reaches 1 billion transaction volume, i would say blockpay is very succesful. But even then the return on this high risk investment for tokenholders is a lousy 3%.

I am enthusiastic about this project and would love to participate. Because i think the cryptoscene could and should manage to become successful without Venture Capitalist from the 'real' world. But under these conditions it is more a donation then an investment. Don't get me wrong, i want you to become succesfull, but i will wait to invest in this coin when it hits the exchanges (at much lower prices).

Cheers! 
 

great  analysis.

[Tradingriver]

Where can i findthe percentages the shareholders gets? Some mentioned 15% each transactions, if this is true who will get the rest of 85%?

- the project is not focused, but you could see it as an advantage

as long as the merchants are not taking less for accepting Bitcoin or Co. not much will be achieved.

If the merchant saves a lot of transaction fees, he should give in the beginning a discount to make it more likely that the people are switching.

good luck, i will try to get cheaper into it, I see it as overvalued.

[mr-whitekey]

The company suggested that the tokenholders would get up to 15% of the commission of 0,5% that is charged to consumers for every transaction.
  

My knowledge is that the 15% is only for Ambassadors whom actively sign merchants with blockpay. It comes from the small fee of only those people whom use the blockpay app at that specific location that the ambassador signed up, not the total set of transaction fees and not to coin holders. There is an undefined, unenforceable promise to profit share with blockpay token holders.

Also, blockpay is not the only project this team is up to. The funds raised here will go to fund other projects as well. as I understand it. Any other project could add value which would alter the value of the coins should the team share this value as promised.


https://blockpay.ch/community/blockpay-ambassador/

[koanado]

I want to invest with BTS.

How can I do that?

BTS are on Polo.


Thank you

[mr-whitekey]

For the tokenholders to get a return on investment of 3% the company has to realize a transaction volume of 1.000.000.000 (1 billion) euro's per year.
(1.000.000.000 x 0,5% commission x 15% payout tokenholders = 750.000 euro)

 

1,000,000,000 x 0.05 x .15 = 7,500,000 euro not 750,000.

@ 1 billion euro transaction volume per year and 15% on a .05% fee, the project would be an outstanding success for all involved.


But, they have not committed to this.