[ANN] ICONOMI - Fund Management Platform

[inlovewith]

The gas cost confuses my noobsy brain. Do I have to own gas in order to send Tokens?   Is gas actually Ether?

yes, gas = ether so if you want to send ICN from your wallet you will need some ETH on it too. ETH will be used for the transaction fee in the ETH network

If I am not wrong, only need 0.01 eth to sent tokens for the transaction fee ?

If it's just .01 ETH, why are some people saying that they spent $5 on gas?

[Thefrolly]

The gas cost confuses my noobsy brain. Do I have to own gas in order to send Tokens?   Is gas actually Ether?

yes, gas = ether so if you want to send ICN from your wallet you will need some ETH on it too. ETH will be used for the transaction fee in the ETH network

If I am not wrong, only need 0.01 eth to sent tokens for the transaction fee ?

If it's just .01 ETH, why are some people saying that they spent $5 on gas?

but if you use more ETH your transaction will come trough faster

[punkrock]

If it's just .01 ETH, why are some people saying that they spent $5 on gas?

The highest possible gas amount is 0.003382050000033821 ETHER (~$0.04). This is what MIST is showing me.

[inlovewith]

The gas cost confuses my noobsy brain. Do I have to own gas in order to send Tokens?   Is gas actually Ether?

yes, gas = ether so if you want to send ICN from your wallet you will need some ETH on it too. ETH will be used for the transaction fee in the ETH network

If I am not wrong, only need 0.01 eth to sent tokens for the transaction fee ?

If it's just .01 ETH, why are some people saying that they spent $5 on gas?

but if you use more ETH your transaction will come trough faster

Then it must be pretty slow is people are willing to pay $5 vs .01 Eth.

[BitBanksy]

Hi ICONOMI! Wise move and thanks for the update 

Deploying & launching a project of this size in the middle or at the end of a week is the worst possible time if something goes wrong... Beside, few more days seems more than necessary so as to allow everyone to get ready (set Ether, get some gas etc...)

I'm also impress by the number of newcomers, perhaps a sign that crypto is getting mainstream

[ArzrA]

...

If it's just .01 ETH, why are some people saying that they spent $5 on gas?

but if you use more ETH your transaction will come trough faster

Then it must be pretty slow is people are willing to pay $5 vs .01 Eth.

Transaction takes like 6s + 15 confirmations. Max Gas is capped so you are not even able to spend .01 ETH for Gas its less.

[inlovewith]

...

If it's just .01 ETH, why are some people saying that they spent $5 on gas?

but if you use more ETH your transaction will come trough faster

Then it must be pretty slow is people are willing to pay $5 vs .01 Eth.

Transaction takes like 6s + 15 confirmations. Max Gas is capped so you are not even able to spend .01 ETH for Gas its less.

Ok, that's good to know.

[becauseI]

So without ETH i am not able to send ICN?

[mammusu]

The gas cost confuses my noobsy brain. Do I have to own gas in order to send Tokens?   Is gas actually Ether?

yes, gas = ether so if you want to send ICN from your wallet you will need some ETH on it too. ETH will be used for the transaction fee in the ETH network

If I am not wrong, only need 0.01 eth to sent tokens for the transaction fee ?

If it's just .01 ETH, why are some people saying that they spent $5 on gas?

you do not need $5 to sent your token, 0.01 eth is enough for the transaction fee
I dont think to pay $5 for the transaction fee it is too much.

[punkrock]

Again: The max fee is 0.003382050000033821 ETHER.

[revelacaogr]

This was decided today.



ICN tokens will be available for transfer Tuesday ~12:00 CET

Get ready for Tuesday’s availability of ICN tokens: update your wallets, check your ETH addresses and prepare yourselves using ICONOMI test-it contract.

It is decided - on Tuesday ~12:00 CET we will issue ICN tokens. Exact block-height will be communicated on Monday 12:00 CET here on reddit, btt and twitter. We'll also mail investors. Generally, Tuesday morning is the best day to deploy tokens in terms of our technical team disposal and support if you will need it. Our full team will be there for you.

For fastest possible assignment of tokens Ethereum network should be as stable as possible. Right now network capacity is around 3 times smaller than when the network is stable. If the network instability will persist we can expect that all tokens will be assigned in around 15 minutes, it could be also more if there will be more network load at the time of coin issuing. Irregardless of deployment of token on Monday and that assignment of tokens will start on Monday, tokens will be available to transfer on Tuesday. Please note: Monday 12pm CET will also be cut off time for updating ETH address for ICN assignment.

Recently there were many updates of wallets. Only the latest updates solves Ethereum syncing issues. It seems that we have different kinds of investors with different levels of knowledge and familiarity with tools. Certainly those with less knowledge and experience need more time to prepare themselves. We will persistently remind our investors about the necessary steps to deal with ICN tokens.
I have to admit we have overestimated our investor’s familiarity with the tools needed. This is related to the use of ETH address in wallets and exchanges. It seems we have lot’s of newcomers, fiat investors, that need much more instructions and step-by-step guidance with additional alerts that need to be added.

On Thursday, October 13 for the same purpose a test-it contract will be deployed on mainnet where every investor will get 1 ICN + actual decimals of your ICN. So for example if you have 69323.0822184235 ICN you will receive 1.0822184235 ICN on your ICONOMI test-it contract for you to check access with your private keys. We have decided to do that for all those users new in crypto to prepare themselves for Tuesday, October 18. With the availability of real ICN contract, the test-it contract will be self destructed.

Localised times for ICN token availability on Tuesday.
- 12pm CET (noon in Europe)
- 10am UTC
- 6am EST
- 3am PST
- 12am Hawaii time zone (Monday midnight effectively)
- 1pm Moscow/Minsk/Kiev time zone
- 6pm China / Hong Kong time zone
- 9pm Sydney time zone

Very professional....
Ur plans r excellent until now....
I Wish The Best To All

[Vinz421]

Pretty good news btw : ICNX is starting to recover. That's good publicity.
No problem with delaying the genesis, as long as it goes smoother, and the index is rising.

[ma007]

It will be nice if you can make a movie about wallets and transfering test ICN as you record confirmation on EUR and USD.

[mortare]

It will be nice if you can make a movie about wallets and transfering test ICN as you record confirmation on EUR and USD.

Very good idea, a short movie or some images would be nice.

[becauseI]

Hi,

a question.

How much money i get if i have for Example 1000ICN and the INDEX Fund raises 10% in januar.
How much ETH then i get in Januar?

[Vinz421]

Hi,

a question.

How much money i get if i have for Example 1000ICN and the INDEX Fund raises 10% in januar.
How much ETH then i get in Januar?

Hey,

First, your ICNs won't be invested in the ICNX, so you won't get any money directly from the INDEX rise.
If you want to, you would have to invest directly in the ICNX.

Second, no way to calculate that for now. Your ICN will bring you money from the fees collected on the funds.
The more money in the funds, the bigger the dividends. What's good with the rise is that it will attract more and more investors, thus bringing fees to the platform, and dividends to you.

[jamalaezaz]

Hey. Is ICNOMI disabled 2FA verification? I am trying to prefer my account for withdraw but I am not receiving 2FA Verfication Email?

can someone please guide me little bit?

[becauseI]

Hi,

a question.

How much money i get if i have for Example 1000ICN and the INDEX Fund raises 10% in januar.
How much ETH then i get in Januar?

Hey,

First, your ICNs won't be invested in the ICNX, so you won't get any money directly from the INDEX rise.
If you want to, you would have to invest directly in the ICNX.

Second, no way to calculate that for now. Your ICN will bring you money from the fees collected on the funds.
The more money in the funds, the bigger the dividends. What's good with the rise is that it will attract more and more investors, thus bringing fees to the platform, and dividends to you.

But if my ICN are not invested why should i buy ICN? Or must I invest with these ICN in ICNX?

[ArzrA]

Hi,

a question.

How much money i get if i have for Example 1000ICN and the INDEX Fund raises 10% in januar.
How much ETH then i get in Januar?

Hey,

First, your ICNs won't be invested in the ICNX, so you won't get any money directly from the INDEX rise.
If you want to, you would have to invest directly in the ICNX.

Second, no way to calculate that for now. Your ICN will bring you money from the fees collected on the funds.
The more money in the funds, the bigger the dividends. What's good with the rise is that it will attract more and more investors, thus bringing fees to the platform, and dividends to you.

But if my ICN are not invested why should i buy ICN? Or must I invest with these ICN in ICNX?

Please read the whitepaper. Most of your questions will be answered there. Looks like you dont understand what ICONOMI is all about.

[boestin]

Hi,

a question.

How much money i get if i have for Example 1000ICN and the INDEX Fund raises 10% in januar.
How much ETH then i get in Januar?

Hey,

First, your ICNs won't be invested in the ICNX, so you won't get any money directly from the INDEX rise.
If you want to, you would have to invest directly in the ICNX.

Second, no way to calculate that for now. Your ICN will bring you money from the fees collected on the funds.
The more money in the funds, the bigger the dividends. What's good with the rise is that it will attract more and more investors, thus bringing fees to the platform, and dividends to you.

But if my ICN are not invested why should i buy ICN? Or must I invest with these ICN in ICNX?

 the general idea behind this is that for ICN represent a share of the company ICONOMI.. Correct me if I am wrong though!