[ANN] ICONOMI - Fund Management Platform

[MrPresident]

Can't put all your eggs in one basket.

Indeed, proper/careful portfolio egg distribution is vital to making steady profits... good advice.
This is what makes the index's so attractive, besides just dividends on ICN.


... Someone asked early on...
 "What would stop peeps from just copying the moves the index makes instead of buying in?"
Nothing, and I hope they do.
Why?
That would mean they bought in after our index did, driving our portfolios up all the faster.  

To throw them off even further, they have no way of knowing if the index is shorting on margin or going long or at what time. The formulae/algo for that is kept secret. They will likely get butt-hurt trying to mimic the index fund. Performance fund is different however, because it's an ico fund.

The Performance Fund is the best option for longer-term holders IMO because the blockchain revolution has barely begun; therefore, there is likely to be thousands of successful ico's within the next couple years alone. The market is "Wide open", with endless gaps and niches to fill.

If Fontas or someone from Whaleclub doesn't create a fund on the Iconomi platform within a month of it's launch, I would like to personally create such an index.

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[magc16]

Do i need create wallet contract in Etherum to receive ICN token ?

You don't need to create a contract - just input your Ethereum wallet address on ICONOMI site (to which you hold private keys). If you will be sending ICN tokens elsewhere later on from your wallet you will need ETH for transaction fees.

I generated a wallet from myetherwallet.  Is this enough, even though ICN is currently not showing up on myetherwallet?  If ICN gets sent to this ether address, it will be always associated with this address, right?  I will eventually see the ICN?

ICN will release the "Token contract address" on the 11th.
You then go to the "contracts" tab, scroll down to "Watch Token", click it, and enter the watch address Iconomi gives.
That's it.

'watch token'  can be done on myetherwallet? 

[MrPresident]

'watch token'  can be done on myetherwallet?  

No, the dev's at myetherwallet would need to add icn to the token watchlist.
They may do it at launch if enough peeps nag the myetherwallet team (hint)

*This is in no way an endorsement of using website wallets.


Mist seems to be working great btw
I'm guessing that when we add the "watch token" address that it will be for the entire wallet, all accounts?

[Joint Force]

Can't put all your eggs in one basket.

The Performance Fund is the best option for longer-term holders IMO because the blockchain revolution has barely begun; therefore, there is likely to be thousands of successful ico's within the next couple years alone. The market is "Wide open", with endless gaps and niches to fill.

This coin is great for diversifying. Thousands of ICOs will come out and some will be really big winners. My "Anything Anywhere" decentralized classifieds on a map will probably be one of the big winners. The ICO will be coming out soon so hopefully the ICONOMI performance fund will be ready in time to get on it.

If these people can pick out the winners for us at a small fee, that's the best thing ever!

[magc16]

'watch token'  can be done on myetherwallet?  

No, the dev's at myetherwallet would need to add icn to the token watchlist.
They may do it at launch if enough peeps nag the myetherwallet team (hint)

*This is in no way an endorsement of using website wallets.


Mist seems to be working great btw
I'm guessing that when we add the "watch token" address that it will be for the entire wallet, all accounts?

Mist is out of the question right now. I can't seem to get it all synched (my internet speed is not up to par). But in the meantime, I just want to know for sure that even though myetherwallet does NOT add ICN, using ETH address from that site will keep my ICN safe?  Even if it's invisible?   If I must, I will eventually add Mist and import the ETH address and be able to see ICN?  Is my understanding correct?

[MrPresident]

'watch token'  can be done on myetherwallet?  

No, the dev's at myetherwallet would need to add icn to the token watchlist.
They may do it at launch if enough peeps nag the myetherwallet team (hint)

*This is in no way an endorsement of using website wallets.


Mist seems to be working great btw
I'm guessing that when we add the "watch token" address that it will be for the entire wallet, all accounts?

Mist is out of the question right now. I can't seem to get it all synched (my internet speed is not up to par). But in the meantime, I just want to know for sure that even though myetherwallet does NOT add ICN, using ETH address from that site will keep my ICN safe?  Even if it's invisible?   If I must, I will eventually add Mist and import the ETH address and be able to see ICN?  Is my understanding correct?

If you are totally unable to download or sync an official wallet, my suggestion would be to leave it on the site, make sure you enable 2fa, and then when the platform is launched, it will already be there for you to manage. If you're wanting to get it to an exchange for trading, just keep it there and wait for the exchange to issue ICN addresses for you to tx to.

Just keep in mind though, when it's on an exchange, you no longer own the keys to that wallet, and the keyholder gets the dividends. Also, popular places like polo have deposit and withdrawal limits, which will throttle dividend hopping. So in short; it is best to store the ICN in a wallet you own the keys to.

[ShooterXD]

This dividends will bout ICN in a rocket to moon.

The price will reach 1000% easy

[MrPresident]

Funny thought....

If for some reason ICN moved to Lisk, we would instantly have ICN Classic left on the Ethereum chain.
So in other words, this is not likely to happen unless Ethereum suffers total meltdown....
...but nice to know even Ethereum can't stop this TRAIN!!!

Iconomi could still dev up a lisk platform for ICN both as an addition to it's existing ownership base, as well as a backup refuge for worst-case Ethereum chain disaster scenario....



Just got an email containing important tid-bit all should know...

[XbladeX]

This dividends will bout ICN in a rocket to moon.

The price will reach 1000% easy

Are you aware that dividends to rise need time ??
When you start business there is gap between effort and revenue after one year - six months
so ICONOMI can go 10x but not at next day being on exchange.
Those guys need to be successful at trading, at getting good clients and partners.
So far they show that they can do that and they are really hard working.
But task is far from "easy"

[marilyngroom]

'watch token'  can be done on myetherwallet?  

No, the dev's at myetherwallet would need to add icn to the token watchlist.
They may do it at launch if enough peeps nag the myetherwallet team (hint)

*This is in no way an endorsement of using website wallets.


Mist seems to be working great btw
I'm guessing that when we add the "watch token" address that it will be for the entire wallet, all accounts?

Mist is out of the question right now. I can't seem to get it all synched (my internet speed is not up to par). But in the meantime, I just want to know for sure that even though myetherwallet does NOT add ICN, using ETH address from that site will keep my ICN safe?  Even if it's invisible?   If I must, I will eventually add Mist and import the ETH address and be able to see ICN?  Is my understanding correct?

If you are totally unable to download or sync an official wallet, my suggestion would be to leave it on the site, make sure you enable 2fa, and then when the platform is launched, it will already be there for you to manage. If you're wanting to get it to an exchange for trading, just keep it there and wait for the exchange to issue ICN addresses for you to tx to.

Just keep in mind though, when it's on an exchange, you no longer own the keys to that wallet, and the keyholder gets the dividends. Also, popular places like polo have deposit and withdrawal limits, which will throttle dividend hopping. So in short; it is best to store the ICN in a wallet you own the keys to.

Isn't that in a sense a flaw, that they keep the dividends. They should do something about having their users get the dividends, else it's just free money for the exchanges. That could also mean low volume.

[MoveCrypto]

https://ethstats.net/

It usually costs about 21000 gas for an average ETH transaction

There is a current limit of 1500000 gas per 1 block

That means maximum of 71 transactions per block (although blocks have been hitting the limit with only 10 or 20 transactions lately)

Roughly 3000 transactions to distribute all the ICN = ~42 blocks

There is 1 block per ~14 seconds, meaning 42 blocks would take 10 minutes

Realistically, it will probably take 1+ hour to distribute all the ICN, because a lot of transactions are competing for the 1.5MM gas in each block


How is it decided which ETH addresses are going into the first blocks?

[playerbtc]

I am not a twitter or Facebook bounty participant.I only joined signature campaign.Whats wrong with my posts?If you can't pay for signature than why signature spreadsheet was finalized with to much fault?Who the fuck is campaign managers?correct the spreadsheet and mark all the spammer,or pay me my bounty.I am not begging you,it's my money which I invested.if time=money then every signature participants invested their money into iconomi.

[MoveCrypto]

https://ethstats.net/

And someone made an interesting point about cost of sending out dividends

(21000 gas/transaction)×(3500 transactions) = 73500000 gas

Current gas price is 0.000000021727 ETH/gas

(73500000 gas)×(0.000000021727 ETH/gas) = 1.5969345 ETH

Cost of roughly 1.6 ETH per week or 83.2 ETH per year to send out dividends

Not bad at all compared to regular stocks I owned which would send out paper checks in the mail.

[electronicash]

It would seem like there will be a demand for ETH later as the rest of us will buy eth for their myethwallet gas to make transactins successful. Time to buy eth.

Anyone recieve their ICN

[magc16]

'watch token'  can be done on myetherwallet?  

No, the dev's at myetherwallet would need to add icn to the token watchlist.
They may do it at launch if enough peeps nag the myetherwallet team (hint)

*This is in no way an endorsement of using website wallets.


Mist seems to be working great btw
I'm guessing that when we add the "watch token" address that it will be for the entire wallet, all accounts?

Mist is out of the question right now. I can't seem to get it all synched (my internet speed is not up to par). But in the meantime, I just want to know for sure that even though myetherwallet does NOT add ICN, using ETH address from that site will keep my ICN safe?  Even if it's invisible?   If I must, I will eventually add Mist and import the ETH address and be able to see ICN?  Is my understanding correct?

If you are totally unable to download or sync an official wallet, my suggestion would be to leave it on the site, make sure you enable 2fa, and then when the platform is launched, it will already be there for you to manage. If you're wanting to get it to an exchange for trading, just keep it there and wait for the exchange to issue ICN addresses for you to tx to.

Just keep in mind though, when it's on an exchange, you no longer own the keys to that wallet, and the keyholder gets the dividends. Also, popular places like polo have deposit and withdrawal limits, which will throttle dividend hopping. So in short; it is best to store the ICN in a wallet you own the keys to.

I already entered myetherwallet address to Iconomi website.  Do you know if ICN's are automatically transferred to the ETH address (all at once)?  Or do we have an option to transfer out any amount that we choose?  

I'm nervous at this point.  What if all ICNs get transferred automatically, but myetherwallet has not added ICN's?  Will I lose all ICN's?

[MrPresident]

'watch token'  can be done on myetherwallet?  

No, the dev's at myetherwallet would need to add icn to the token watchlist.
They may do it at launch if enough peeps nag the myetherwallet team (hint)

*This is in no way an endorsement of using website wallets.


Mist seems to be working great btw
I'm guessing that when we add the "watch token" address that it will be for the entire wallet, all accounts?

Mist is out of the question right now. I can't seem to get it all synched (my internet speed is not up to par). But in the meantime, I just want to know for sure that even though myetherwallet does NOT add ICN, using ETH address from that site will keep my ICN safe?  Even if it's invisible?   If I must, I will eventually add Mist and import the ETH address and be able to see ICN?  Is my understanding correct?

If you are totally unable to download or sync an official wallet, my suggestion would be to leave it on the site, make sure you enable 2fa, and then when the platform is launched, it will already be there for you to manage. If you're wanting to get it to an exchange for trading, just keep it there and wait for the exchange to issue ICN addresses for you to tx to.

Just keep in mind though, when it's on an exchange, you no longer own the keys to that wallet, and the keyholder gets the dividends. Also, popular places like polo have deposit and withdrawal limits, which will throttle dividend hopping. So in short; it is best to store the ICN in a wallet you own the keys to.

Isn't that in a sense a flaw, that they keep the dividends. They should do something about having their users get the dividends, else it's just free money for the exchanges. That could also mean low volume.

Yes, but It would ofc be a flaw of the exchange's doing if they do not connect the ETH wallet address provided in your account the ICN/ETH wallet they provide. It is entirely in their hands. Just be aware that the likely outcome is that they will keep the dividends, because most exchanges keep the bulk of crypto's in a cold wallet.

[MrPresident]

'watch token'  can be done on myetherwallet?  

No, the dev's at myetherwallet would need to add icn to the token watchlist.
They may do it at launch if enough peeps nag the myetherwallet team (hint)

*This is in no way an endorsement of using website wallets.


Mist seems to be working great btw
I'm guessing that when we add the "watch token" address that it will be for the entire wallet, all accounts?

Mist is out of the question right now. I can't seem to get it all synched (my internet speed is not up to par). But in the meantime, I just want to know for sure that even though myetherwallet does NOT add ICN, using ETH address from that site will keep my ICN safe?  Even if it's invisible?   If I must, I will eventually add Mist and import the ETH address and be able to see ICN?  Is my understanding correct?

If you are totally unable to download or sync an official wallet, my suggestion would be to leave it on the site, make sure you enable 2fa, and then when the platform is launched, it will already be there for you to manage. If you're wanting to get it to an exchange for trading, just keep it there and wait for the exchange to issue ICN addresses for you to tx to.

Just keep in mind though, when it's on an exchange, you no longer own the keys to that wallet, and the keyholder gets the dividends. Also, popular places like polo have deposit and withdrawal limits, which will throttle dividend hopping. So in short; it is best to store the ICN in a wallet you own the keys to.

I already entered myetherwallet address to Iconomi website.  Do you know if ICN's are automatically transferred to the ETH address (all at once)?  Or do we have an option to transfer out any amount that we choose?  

I'm nervous at this point.  What if all ICNs get transferred automatically, but myetherwallet has not added ICN's?  Will I lose all ICN's?

I doubt it will be automatic. You will probably get to choose the amount, or at the very least be required to hit "send" and do 2fa.... and yes, if myetherwallet doesn't add ICN and you sent them there, you're screwed until they do add ICN.

[magc16]

'watch token'  can be done on myetherwallet?  

No, the dev's at myetherwallet would need to add icn to the token watchlist.
They may do it at launch if enough peeps nag the myetherwallet team (hint)

*This is in no way an endorsement of using website wallets.


Mist seems to be working great btw
I'm guessing that when we add the "watch token" address that it will be for the entire wallet, all accounts?

Mist is out of the question right now. I can't seem to get it all synched (my internet speed is not up to par). But in the meantime, I just want to know for sure that even though myetherwallet does NOT add ICN, using ETH address from that site will keep my ICN safe?  Even if it's invisible?   If I must, I will eventually add Mist and import the ETH address and be able to see ICN?  Is my understanding correct?

If you are totally unable to download or sync an official wallet, my suggestion would be to leave it on the site, make sure you enable 2fa, and then when the platform is launched, it will already be there for you to manage. If you're wanting to get it to an exchange for trading, just keep it there and wait for the exchange to issue ICN addresses for you to tx to.

Just keep in mind though, when it's on an exchange, you no longer own the keys to that wallet, and the keyholder gets the dividends. Also, popular places like polo have deposit and withdrawal limits, which will throttle dividend hopping. So in short; it is best to store the ICN in a wallet you own the keys to.

I already entered myetherwallet address to Iconomi website.  Do you know if ICN's are automatically transferred to the ETH address (all at once)?  Or do we have an option to transfer out any amount that we choose?  

I'm nervous at this point.  What if all ICNs get transferred automatically, but myetherwallet has not added ICN's?  Will I lose all ICN's?

I doubt it will be automatic. You will probably get to choose the amount, or at the very least be required to hit "send" and do 2fa.... and yes, if myetherwallet doesn't add ICN, you're screwed until they do.

ok, good to know. "Screwed" is a strong word.  hahahaha.  I'll have to take out the ETH address for now.

[Videodrome]

I'm nervous at this point.  What if all ICNs get transferred automatically, but myetherwallet has not added ICN's?  Will I lose all ICN's?

Don't panic, if you have the private keys of the wallet your ICN are safe.

[MrPresident]

I'm nervous at this point.  What if all ICNs get transferred automatically, but myetherwallet has not added ICN's?  Will I lose all ICN's?

Don't panic, if you have the private keys of the wallet your ICN are safe.

True but he's unable to sync a wallet. (Internet connection limits)


Parity may be a solution for him

mag16:


your nervousness was warranted after all