[ANN] ICONOMI - Fund Management Platform

[XbladeX]

Any problem releasing the contract details so we can put them into our wallets?

They will do that give them time they were prepared to do it automatically and because of ETH fails network, contract with 5000+ transactions would be fucked up
by network probably. Some people will get ICN some not and deal with that shit then when they release all at once ?
that ****** ETH, that is when 90% cash goes on marketing instead of development.

I hope that we will move to another dividend vessel when it will be available,Etherum is overrated IMO.

[BitBanksy]

Hi Iconomy. When to start trading ... ? Well thank you

Let them first release the tokens... 

[XbladeX]

Hi Iconomy. When to start trading ... ? Well thank you

Let them first release the tokens... 

https://ethstats.net/

Lol look this network choke at makx 28ts/s ... and we want imput like 5000-7000 in one shot haha
that will blow them up

[supercops]

If you can wait from the start of ICO,if you can wait for the end of token calculation and distribution,why you can not wait for the exchange listing?don't you think we need a perfect launch of ICN without any bug?let the team work and deliver us things perfectly.A company that raised $10M+ should be checkout and complete every step before launching and listing.So till then write down your plan in a white paper "what you'll do with the money from ICONOMI project" and prepare yourself for a long ride  

[niksdt101]

If you can wait from the start of ICO,if you can wait for the end of token calculation and distribution,why you can not wait for the exchange listing?don't you think we need a perfect launch of ICN without any bug?let the team work and deliver us things perfectly.A company that raised $10M+ should be checkout and complete every step before launching and listing.So till then write down your plan in a white paper "what you'll do with the money from ICONOMI project" and prepare yourself for a long ride  

yeah ..lets wait for it ..we all waited this long...better to get all

[xtyling]

I say we wait till the perfect time comes!

[andron8383]

****don't you think we need a perfect launch of ICN without any bug?***and prepare yourself for a long ride  

Lets withdraw manually i hate such shit show from ETH devs they have those spam/ddos problems for months they did shit about it.
That won't change anytime soon so we will wait till end of the word and loosing reputation even this is not direct ICONOMI issue.

[ICONOMI]

So we are delaying distribution because it might be difficult for some people to send tokens to an exchange as fast as possible?

It is a problem. But as I said before "least of a problem, but to consider".

So. You release smart contract tomorrow ?

Most likely today. With dummy distribution in order for anyone who entered their own address can check if he can access it. I can't think of any better way right now to do that.

Please don't make any hasty decisions just because some investors (and bounty hunters) are impatient.  Your team seems to be handling the situation well, and you can't be blamed for someone causing mischief on the ethereum network.  The ethereum devs are top-notch and will get that sorted.  Speaking as someone who invested a generous sum, I urge you: don't be allowed to feel rushed.  I'd rather wait some time if it means the launch goes smoothly.

+1
Feeling exactly the same. To me it looks like most rushers are either bounty crybabies or small investors that just want to "trade" their tokens.
They should not influence any technical decisions  

I can hear you all.

First plan. Contract with dummy distribution for us to deploy and for you to check if you can access with your private keys first.

ICONOMI can you officially say something about myetherwallet? can we use that for withdraw from our ICO account?We want some official news about myetherwallet,please.

As someone suggested just before we'll put step by step instructions with screenshots for myetherwallet.

U'll follow those instructions and use contract with fictional values to check if all is working OK for you that way.

Thank you for your kind reply.One more thing need to be confirm.If i store my ICN into myetherwallet am i also get dividend?As i know dividend will be paid from/after jan 2017,So if i store my icn from now am i getting dividend for november and december also?For more clear,lets say iconomi will pay their first divident on 31/01/2017, are you paying dividend for nov/dec all together in january?sorry for noob question but i don't want to sell my coin and i want to know the actual time for sharing dividend.
thank you

If you store ICN with myetherwallet you will be also receiving dividends.

Technically you are storing ICN on an address. Which is controlled by corresponding private key. Strictly speaking ETH/ICN/anything... is not stored on that address, but on the network and addresses corresponding private key is the one that can unlock and perform operations on those assets. Therefore you're good to receive dividends and hold ICN on anything as long as you hold private key.

When dividends are coming? With first funds and first profits. By definition.

[cryptospreader_temp]

Hi Iconomy. When to start trading ... ? Well thank you

Let them first release the tokens... 

https://ethstats.net/

Lol look this network choke at makx 28ts/s ... and we want imput like 5000-7000 in one shot haha
that will blow them up

Where can I see in the website, the limits?

[XbladeX]

Hi Iconomy. When to start trading ... ? Well thank you

Let them first release the tokens... 

https://ethstats.net/

Lol look this network choke at makx 28ts/s ... and we want imput like 5000-7000 in one shot haha
that will blow them up

Where can I see in the website, the limits?

yellow at 35 ...look at that block time too ,
ICONOMI will blow them up i think : )

[supercops]

So we are delaying distribution because it might be difficult for some people to send tokens to an exchange as fast as possible?

It is a problem. But as I said before "least of a problem, but to consider".

So. You release smart contract tomorrow ?

Most likely today. With dummy distribution in order for anyone who entered their own address can check if he can access it. I can't think of any better way right now to do that.

Please don't make any hasty decisions just because some investors (and bounty hunters) are impatient.  Your team seems to be handling the situation well, and you can't be blamed for someone causing mischief on the ethereum network.  The ethereum devs are top-notch and will get that sorted.  Speaking as someone who invested a generous sum, I urge you: don't be allowed to feel rushed.  I'd rather wait some time if it means the launch goes smoothly.

+1
Feeling exactly the same. To me it looks like most rushers are either bounty crybabies or small investors that just want to "trade" their tokens.
They should not influence any technical decisions  

I can hear you all.

First plan. Contract with dummy distribution for us to deploy and for you to check if you can access with your private keys first.

ICONOMI can you officially say something about myetherwallet? can we use that for withdraw from our ICO account?We want some official news about myetherwallet,please.

As someone suggested just before we'll put step by step instructions with screenshots for myetherwallet.

U'll follow those instructions and use contract with fictional values to check if all is working OK for you that way.

Thank you for your kind reply.One more thing need to be confirm.If i store my ICN into myetherwallet am i also get dividend?As i know dividend will be paid from/after jan 2017,So if i store my icn from now am i getting dividend for november and december also?For more clear,lets say iconomi will pay their first divident on 31/01/2017, are you paying dividend for nov/dec all together in january?sorry for noob question but i don't want to sell my coin and i want to know the actual time for sharing dividend.
thank you

If you store ICN with myetherwallet you will be also receiving dividends.

Technically you are storing ICN on an address. Which is controlled by corresponding private key. Strictly speaking ETH/ICN/anything... is not stored on that address, but on the network and addresses corresponding private key is the one that can unlock and perform operations on those assets. Therefore you're good to receive dividends and hold ICN on anything as long as you hold private key.

When dividends are coming? With first funds and first profits. By definition.

That's the clear statement officially.I hope some people have now very clear information about the time of dividend and profit share.Do you have any plan to announce any date from when people need to store their tokens for dividend?I want to trade some of my coin and whenever iconomi announce the dividend date i want to move my coin right back to my wallet.
Thanx

[MalReynolds]

...
Are you telling me there's a coin out there that has NOT been attacked?   

NXT ?  - i don't remember any real attack drama so far

I remember very well that NXT was DDoSed when it was launched.  

[coinmenace]

iconomi ICO account > withdrawal still says:

ICN tokens issuance

ICONOMI ICN tokens will be issued on 11 October 2016.

Please provide your ETH address here.

ICN tokens will be assigned to the provided address when they are issued.

at least devs should update this date to not confuse everyone logging into their ICO accounts.

[trilingualme]

I winder if we store ICN in exchanges, will we receive dividends? I think no.

[supercops]

I winder if we store ICN in exchanges, will we receive dividends? I think no.

The answer is "NO" and you're 100% right.Dividend will not be paid if you move your coin to any exchange or anywhere.Your coin must be in your wallet until the dividend payout.
thanx

[btcforchild]

just wait for at least the certainty of a clear distribution on ICONOMI

[MoveCrypto]

https://ethstats.net/

It looks like roughly 16MM gas worth of transactions has been getting through on the ethereum network per 10 minutes, because many 0 transaction blocks are getting mined

less than 3000 transactions to distribute all the ICN (assuming 500+ investors didn't provide a ETH withdrawal address)

Token-sending transactions use about ~3.5x the gas of a normal ETH sending transaction, so around ~75000 gas per transaction.

(75000 gas per transaction)×(3000 transactions) = 225MM gas

(225MM gas) ÷ (96MM gas per hour) = 2h 20m

It would take iconomi a minimum of 2h 20m to send out all the ICN withdrawals.

If they increase the gas price of their transactions to 20x the normal rate of 0.00000002 ETH per gas:

(225MM gas)×(0.00000040 ETH per gas) = 90 ETH

If they wanted to distribute all the ICN with the network in its' current state, I estimate they could do it in less than 4 hours for less than 90 ETH

LOL this change will be huge for ETH if they rise costs like 20x... From 1-side it will secure network but that makes using ETH network it will be HIGH cost.
And that was not planned by anyone who is using ETH for its system.
Imagine that cost of your rent goes up 20x... you will be pissed off hard.
I don't like when someone is changing business rules.
Imagine you planned business on ETH network your business plan got reck becouse your will have to pay 20x more now - brilliant solution

I used 20x the gas price as an overkill estimate of what they could pay if they wanted to be sure to outbid everyone on the network to get the ~150 full blocks of transactions sent out as fast as possible.

It would probably work the same with paying 5x or 10x the gas price too.

Might be necessary to do this, unless they want to wait an unknown amount of time for a hard-fork fix on the ethereum network.  Given how the last hard-fork played out, the ethereum devs will probably test for weeks before they release a fix and the gas limit + transactions per second goes back to normal.

[XbladeX]

.... the ethereum devs will probably test for weeks before they release a fix and the gas limit + transactions per second goes back to normal.

Welcome to Microsoft support level please stand in line for a while now.

[Warkop]

I see from yesterday's issues ICN, that would delay the launch, but I hope there will be no postponement in the launch of the ICN later ..

[axrhuls]

https://ethstats.net/

It looks like roughly 16MM gas worth of transactions has been getting through on the ethereum network per 10 minutes, because many 0 transaction blocks are getting mined

less than 3000 transactions to distribute all the ICN (assuming 500+ investors didn't provide a ETH withdrawal address)

Token-sending transactions use about ~3.5x the gas of a normal ETH sending transaction, so around ~75000 gas per transaction.

(75000 gas per transaction)×(3000 transactions) = 225MM gas

(225MM gas) ÷ (96MM gas per hour) = 2h 20m

It would take iconomi a minimum of 2h 20m to send out all the ICN withdrawals.

If they increase the gas price of their transactions to 20x the normal rate of 0.00000002 ETH per gas:

(225MM gas)×(0.00000040 ETH per gas) = 90 ETH

If they wanted to distribute all the ICN with the network in its' current state, I estimate they could do it in less than 4 hours for less than 90 ETH

LOL this change will be huge for ETH if they rise costs like 20x... From 1-side it will secure network but that makes using ETH network it will be HIGH cost.
And that was not planned by anyone who is using ETH for its system.
Imagine that cost of your rent goes up 20x... you will be pissed off hard.
I don't like when someone is changing business rules.
Imagine you planned business on ETH network your business plan got reck becouse your will have to pay 20x more now - brilliant solution

I used 20x the gas price as an overkill estimate of what they could pay if they wanted to be sure to outbid everyone on the network to get the ~150 full blocks of transactions sent out as fast as possible.

It would probably work the same with paying 5x or 10x the gas price too.

Might be necessary to do this, unless they want to wait an unknown amount of time for a hard-fork fix on the ethereum network.  Given how the last hard-fork played out, the ethereum devs will probably test for weeks before they release a fix and the gas limit + transactions per second goes back to normal.


A dummy distribution sounds like a good idea.  But brace yourselves for a bunch of people who have no idea what's going on getting confused about the difference between the dummy ICN and the real ICN.

I don't really think it's that important to make sure everyone can get their ICN to an exchange at exactly the same time.  Even with a healthy network with gas limit of 4.5MM per block, it's not possible on ethereum network.  Could just distribute ICN in the order in which people verified their address, in the order in which people first invested, or in some random order.  Then people get their ICN when they get it.  This is a cold storage, long hold for the dividends project anyways.

The distribution costs a lot of time, I even thought it can be doen in one transaction, but i am too naive, lol.