[ANN] ICONOMI - Fund Management Platform

[BitBanksy]

You are telling me a Visa card can't be charged back or incur charge disputes? Lol.

DEBIT cards cannot chargeback. A CREDIT card yes but not a DEBIT card...

[adhitthana]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

[szachta]

What is planning to distribution?

[thepo1m]

I heard some people saying that to get the visa card ICONOMI is giving , I should invest a certain amount of money ? how much is it ? and the VISA is a Bitcoin debit card like E-coin.io and others ? could someone give us enough information's about their card and when It's supposed to be released please

It will be a debit card backed by assets on ICONOMI. If you will have investment in ICONOMI.index fund and you will swipe your card, then we'll sell your stake in the fund for as much as you swiped with the card. There will also be iOS and Android app with which you will be able to manage your card, spending and funds.

Is it just in the funds or ICN tokens as well. Also, what about charge disputes with the card?

Where will the initial iconomi funds be managed on if the platform isn't developed? Will it just be a trade account on Poloniex? Or do you guys have some beta platform software you will use?

Ever heard of Ethereum wallet?  ... and there's no charge-backs on cryptocurrencies mate...

Are you dumb? You are telling me a Visa card can't be charged back or incur charge disputes? Lol. Also what does Ethereum or its wallet have anything to do with my question?

Dumb? If you know anything about crypto's, you would know that there's no forcibly removing cryptocurrencies from an account without the account holder's passphrase, and You specifically asked... "Where will the initial iconomi funds be managed on if the platform isn't developed?"  and "Will it just be a trade account on Poloniex? Or do you guys have some beta platform software you will use?" Every cryptocurrency has it's own public blockchain wallet. This stuff is crypto-101, and Iconomi has stated several times ICN will be hosted on the Ethereum wallet and that ALL the funds will all be held in cold storage offline wallets.
Hope that clears things up 

Does this mean that ICN won't have their own wallet too and we may be using the myethwallet and will need ETH to gas up transactions as well?
I guess we all are going to need ETH in the end still.

any token on Ethereum chain can be on myetherwallet.com and that doesn't mean ICN won't have their own wallet

[baomoremoney]

I just checked the spreadsheet and found that some members have red color on their rank may I know what does it mean!!

In what spreadsheet do you mean and what will be with these members who have red color on their rank. Please explain.

This is the spreadsheet that I'm talking about https://docs.google.com/spreadsheets/d/10tRJSuPZ_mak2-mt_5bwtmIXuH4waCVWAmz3zO83cFg/edit

Scroll down until the end and you will see that some members have red colors on their rank so I'm curios to know what does it mean.

Spammers obviously, they will get denied payment.
I am helping Iconomi to detect all cheaters and spammers that are around.
Also the bountie dsitribution will probably get some rules too.

I detect a trend with these accounts in red, some are just making 10 to 11 posts per week and maybe they are posting all the ten posts in a day

Post only 10-11 posts can't prove they are spammers. The real proofs are their posts, they are off-topic spammers, or they post with useless posts.

One example, https://bitcointalk.org/index.php?action=profile;u=878651;sa=showPosts   what does this guy contribite to iconomi? Just shit posting and spamming on sportsbook promotion threads...

[bit815792215]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

When you invest in the ICONOMI ICO you receive a corresponding amount of tokens for your investment. ICONOMI will then launch future ICO's and use the ICO funds from ICONOMI to invest into their new ICO and so on.

[baomoremoney]

...what about charge disputes with the card?

As it was already mentioned, it will be a VISA DEBIT card. Debit cards are almost impossible to chargeback...

Valid point, debit card is not credit card, debit card can't chargeback, but credit card can chargeback.

[electronicash]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

Okay been waiting for this question to come out and would certainly want to know how it works in real life as well.  an explanation would really be a good help here. It does sound good as they've already gathered a lot of BTC to start the project so please let us understand.

will the team distribute two coins?

[stereotype]

...what about charge disputes with the card?

As it was already mentioned, it will be a VISA DEBIT card. Debit cards are almost impossible to chargeback...

Valid point, debit card is not credit card, debit card can't chargeback, but credit card can chargeback.

But debit cards can be credited. They might not call it 'chargeback', but the function does exist. When you cash-out on Circle.com, the funds are credited/sent to the debit cards associated bank account.

[MrPresident]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

Okay been waiting for this question to come out and would certainly want to know how it works in real life as well.  an explanation would really be a good help here. It does sound good as they've already gathered a lot of BTC to start the project so please let us understand.

will the team distribute two coins?

Here's the basics:
1. You buy ICN Tokens and/or invest into the performance.fund.
2. ICN invests into cryptocurrency opportunities with iconomi.index and ico's with performance.fund.
3. You collect the fees receive a share of the profit from both funds with every ICN token held.

[MrPresident]

...what about charge disputes with the card?

As it was already mentioned, it will be a VISA DEBIT card. Debit cards are almost impossible to chargeback...

Valid point, debit card is not credit card, debit card can't chargeback, but credit card can chargeback.

But debit cards can be credited. They might not call it 'chargeback', but the function does exist. When you cash-out on Circle.com, the funds are credited/sent to the debit cards associated bank account.

You guys... The point I was making is that cryptocurrencies cannot be charged back, regardless of what Visa's policy is.

[electronicash]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

Okay been waiting for this question to come out and would certainly want to know how it works in real life as well.  an explanation would really be a good help here. It does sound good as they've already gathered a lot of BTC to start the project so please let us understand.

will the team distribute two coins?

Here's the basics:
1. You buy ICN Tokens and/or invest into the performance.fund.
2. ICN invests into cryptocurrency opportunities with iconomi.index and ico's with performance.fund.
3. You collect the fees receive a share of the profit from both funds with every ICN token held.

As ICN holder do we need to participate on investing and finding opportunities and send  iconomi.index and performance.funds inside the platform to earn?

I do hope to see thier platform developed quicker unlike those projects int he past that take years.

[cheapcoin]

...what about charge disputes with the card?

As it was already mentioned, it will be a VISA DEBIT card. Debit cards are almost impossible to chargeback...

Valid point, debit card is not credit card, debit card can't chargeback, but credit card can chargeback.

But debit cards can be credited. They might not call it 'chargeback', but the function does exist. When you cash-out on Circle.com, the funds are credited/sent to the debit cards associated bank account.

You guys... The point I was making is that cryptocurrencies cannot be charged back, regardless of what Visa's policy is.

Right, if crypto coins can be charged back, there was not dao hack happened. Moerover, bitfinex hacker was not willing to spend time on hacking, if bitcoin can be charged back. Chargeback is a centralized feature, but crypto worships DEcentralized.

[MrPresident]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

Okay been waiting for this question to come out and would certainly want to know how it works in real life as well.  an explanation would really be a good help here. It does sound good as they've already gathered a lot of BTC to start the project so please let us understand.

will the team distribute two coins?

Here's the basics:
1. You buy ICN Tokens and/or invest into the performance.fund.
2. ICN invests into cryptocurrency opportunities with iconomi.index and ico's with performance.fund.
3. You collect the fees receive a share of the profit from both funds with every ICN token held.

As ICN holder do we need to participate on investing and finding opportunities and send  iconomi.index and performance.funds inside the platform to earn?

I do hope to see thier platform developed quicker unlike those projects int he past that take years.

No, each fund will have an investment director, but you can vote for who manages the fund (after the first 24 months)

Rest assured, nobody will be voting in Merryl Lynch. 

[Amel]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

When you invest in the ICONOMI ICO you receive a corresponding amount of tokens for your investment. ICONOMI will then launch future ICO's and use the ICO funds from ICONOMI to invest into their new ICO and so on.

simple explanation : If you are investor you will get shares in the form of tokens called ICN
while  iconomi will open trade market that allows people to sell and buy Ethereum certainly in this transaction ICONOMI will get  fee
then fee will be distributed to  investor (ICN holder ) then the profits will be distributed to investors and iconomi management every week.
Do not forget your ICN  also have a value / price you can sell it at any time in the exchanger, so far that's all I know
let me know if this explanation is incorrect

[MrPresident]

[OmegaStarScream]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

When you invest in the ICONOMI ICO you receive a corresponding amount of tokens for your investment. ICONOMI will then launch future ICO's and use the ICO funds from ICONOMI to invest into their new ICO and so on.

simple explanation : If you are investor you will get shares in the form of tokens called ICN
while  iconomi will open trade market that allows people to sell and buy Ethereum certainly in this transaction ICONOMI will get  fee
then fee will be distributed to  investor (ICN holder ) then the profits will be distributed to investors and iconomi management every week.
Do not forget your ICN  also have a value / price you can sell it at any time in the exchanger, so far that's all I know
let me know if this explanation is incorrect

I didn't full get that part , mind explaining ? does it mean that (If I don't sell my ICNs) , I will be getting more and more weekly without doing anything (when other people trade their ICNs in exchanges) ?

[aidia]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

When you invest in the ICONOMI ICO you receive a corresponding amount of tokens for your investment. ICONOMI will then launch future ICO's and use the ICO funds from ICONOMI to invest into their new ICO and so on.

simple explanation : If you are investor you will get shares in the form of tokens called ICN
while  iconomi will open trade market that allows people to sell and buy Ethereum certainly in this transaction ICONOMI will get  fee
then fee will be distributed to  investor (ICN holder ) then the profits will be distributed to investors and iconomi management every week.
Do not forget your ICN  also have a value / price you can sell it at any time in the exchanger, so far that's all I know
let me know if this explanation is incorrect

I didn't full get that part , mind explaining ? does it mean that (If I don't sell my ICNs) , I will be getting more and more weekly without doing anything (when other people trade their ICNs in exchanges) ?

Weekly ICN dividends from profits are paid in ETH

[jaesonma]

I read the whitepaper. I'm reasonably familiar with investment funds and investing, but I don't see how this works.

Maybe someone who does understand it could give an example of how it would work in real life?

When you invest in the ICONOMI ICO you receive a corresponding amount of tokens for your investment. ICONOMI will then launch future ICO's and use the ICO funds from ICONOMI to invest into their new ICO and so on.

simple explanation : If you are investor you will get shares in the form of tokens called ICN
while  iconomi will open trade market that allows people to sell and buy Ethereum certainly in this transaction ICONOMI will get  fee
then fee will be distributed to  investor (ICN holder ) then the profits will be distributed to investors and iconomi management every week.
Do not forget your ICN  also have a value / price you can sell it at any time in the exchanger, so far that's all I know
let me know if this explanation is incorrect

I didn't full get that part , mind explaining ? does it mean that (If I don't sell my ICNs) , I will be getting more and more weekly without doing anything (when other people trade their ICNs in exchanges) ?

Weekly ICN dividends from profits are paid in ETH

ICN is a long term token, hold them tightly and wait for the moon. If we store ICN on exchanges, we won't get paid right?

[MoveCrypto]

I heard some people saying that to get the visa card ICONOMI is giving , I should invest a certain amount of money ? how much is it ? and the VISA is a Bitcoin debit card like E-coin.io and others ? could someone give us enough information's about their card and when It's supposed to be released please

It will be a debit card backed by assets on ICONOMI. If you will have investment in ICONOMI.index fund and you will swipe your card, then we'll sell your stake in the fund for as much as you swiped with the card. There will also be iOS and Android app with which you will be able to manage your card, spending and funds.

Will a fund manager choose which crypto's to sell on a weekly or monthly basis in order to refill the account which holds all the cardholder fiat?

I don't know how these crypto cards work, but I'm picturing hundreds of cardholders whose cards are all attached to 1 iconomi bank account?