[ANN] ICONOMI - Fund Management Platform

[mtnsaa]

Looks like we are entering into Waves territory here.

What happened with Waves?  Sorry, I didn't follow it.

Its where it got overbought and was funded heavily that the dev team was stunned and never got to work but lay around celebrating for more than 3 months spending the money of the investors without developing the token, not even a news but just a tweet. Lets just hope history won't repeats itself over again.

Yes sadly there should've been some milestones established, not sure if there are.

We'll have to trust the team. Usually giving people huge piles of money to manage and spend creates a bad habit, it's not their money they are expending so they basically end up doing a half assed job. Hope this is the exception.

[maskeffec]

5k go go go iconomy 

[Dewi08]

Great job to all the team ICONOMI, I've gone to see I hope there will be greater for the future will come ..

[estenity]

i had a freezing yesterday with firefox browser

[len01]

amazing, congrats iconomi good job dev

[ecawyna]

Looks like we are entering into Waves territory here.

What happened with Waves?  Sorry, I didn't follow it.

Its where it got overbought and was funded heavily that the dev team was stunned and never got to work but lay around celebrating for more than 3 months spending the money of the investors without developing the token, not even a news but just a tweet. Lets just hope history won't repeats itself over again.

lol sometimes i think like this too.

[MoveCrypto]

Looks like we are entering into Waves territory here.

What happened with Waves?  Sorry, I didn't follow it.

Its where it got overbought and was funded heavily that the dev team was stunned and never got to work but lay around celebrating for more than 3 months spending the money of the investors without developing the token, not even a news but just a tweet. Lets just hope history won't repeats itself over again.

Yes sadly there should've been some milestones established, not sure if there are.

We'll have to trust the team. Usually giving people huge piles of money to manage and spend creates a bad habit, it's not their money they are expending so they basically ended up doing a half assed job. Hope this is the exception.

Investors here need to slow down.  Save at least half of your stack for investing in the 2nd fund, performance.iconomi (CMF)

ICN token holders will be getting a minority of the profit from performance.iconomi as dividends.

Smarter to save your money/excitement and go directly into performance.iconomi, then you will be getting a majority of the profits from that fund.

The money from this ico is meant for development of the platform, operations, legal, marketing.  My concern with the overfunding of this, is we may end up getting the same development work and platform at double the price.

Ethereum is an example, where they burnt through ico money on six legal entities across europe, expensive offices in multiple countries, and high salaries (choice of zug as headquarters means literally double or triple the salaries and rent compared to other places in europe).  The product is a massive success, but a lot of investor money was wasted, and they probably could have built the same thing with half the funds:
https://blog.ethereum.org/2016/01/07/2394/

What I really like about Lisk, is they appear to be taking a conservative approach and stretching the ico funds to last for several years.

[ImHash]

OK now I already invested in ICO but I didn't see any 15% bonus sign though or my bonus is added automatically?
Anyways I'm hoping for some profit in near future.

[Amel]

OK now I already invested in ICO but I didn't see any 15% bonus sign though or my bonus is added automatically?
Anyways I'm hoping for some profit in near future.

ICN in your account only estimations It will continue to fall until ICO over
Bonus awarded after ICO over. After  deposit immediately improve the security of your account and leave your account back  a few weeks

[cryptobart]

Looks like we are entering into Waves territory here.

What happened with Waves?  Sorry, I didn't follow it.

Its where it got overbought and was funded heavily that the dev team was stunned and never got to work but lay around celebrating for more than 3 months spending the money of the investors without developing the token, not even a news but just a tweet. Lets just hope history won't repeats itself over again.

Yes sadly there should've been some milestones established, not sure if there are.

We'll have to trust the team. Usually giving people huge piles of money to manage and spend creates a bad habit, it's not their money they are expending so they basically ended up doing a half assed job. Hope this is the exception.

Investors here need to slow down.  Save at least half of your stack for investing in the 2nd fund, performance.iconomi (CMF)

ICN token holders will be getting a minority of the profit from performance.iconomi as dividends.

Smarter to save your money/excitement and go directly into performance.iconomi, then you will be getting a majority of the profits from that fund.

The money from this ico is meant for development of the platform, operations, legal, marketing.  My concern with the overfunding of this, is we may end up getting the same development work and platform at double the price.

Ethereum is an example, where they burnt through ico money on six legal entities across europe, expensive offices in multiple countries, and high salaries (choice of zug as headquarters means literally double or triple the salaries and rent compared to other places in europe).  The product is a massive success, but a lot of investor money was wasted, and they probably could have built the same thing with half the funds:
https://blog.ethereum.org/2016/01/07/2394/

What I really like about Lisk, is they decided to take a humble approach and stretch the ico funds to make them last for several years.

It makes sense, thanks MoveCrypto

[Snorek]

Looks like we are entering into Waves territory here.

What happened with Waves?  Sorry, I didn't follow it.

Its where it got overbought and was funded heavily that the dev team was stunned and never got to work but lay around celebrating for more than 3 months spending the money of the investors without developing the token, not even a news but just a tweet. Lets just hope history won't repeats itself over again.

Yes sadly there should've been some milestones established, not sure if there are.

We'll have to trust the team. Usually giving people huge piles of money to manage and spend creates a bad habit, it's not their money they are expending so they basically ended up doing a half assed job. Hope this is the exception.

Investors here need to slow down.  Save at least half of your stack for investing in the 2nd fund, performance.iconomi (CMF)

ICN token holders will be getting a minority of the profit from performance.iconomi as dividends.

Smarter to save your money/excitement and go directly into performance.iconomi, then you will be getting a majority of the profits from that fund.

The money from this ico is meant for development of the platform, operations, legal, marketing.  My concern with the overfunding of this, is we may end up getting the same development work and platform at double the price.

Ethereum is an example, where they burnt through ico money on six legal entities across europe, expensive offices in multiple countries, and high salaries (choice of zug as headquarters means literally double or triple the salaries and rent compared to other places in europe).  The product is a massive success, but a lot of investor money was wasted, and they probably could have built the same thing with half the funds:
https://blog.ethereum.org/2016/01/07/2394/

What I really like about Lisk, is they appear to be taking a conservative approach and stretching the ico funds to last for several years.

Good insight, it is actually very true more common that anyone would think. I observed similar pattern before.
Situation owners of very prosperous crypto related business/coin/service were drunk with power and profits.
Some of them wasted initial portion of money and then to recover started scamming people.
I hope ICONOMI project is better than this.

[rindo]

1,488.4251 BTC

55,385.5054 ETH

933,405.5023 LSK

0.00 USD

592,986.41 EUR
 
looks pretty good so far  974 investors

[pokemanvanish]

1,488.4251 BTC

55,385.5054 ETH

933,405.5023 LSK

0.00 USD

592,986.41 EUR
 
looks pretty good so far  974 investors

I can't believe it, too many whales here, this is the new antshares, people start to buy legit project, nice sign.

[Snorek]

A quick reminder: First week 15% bonus is available only for 2 more hours!

If there is someone here who is still hesitating, this is the last moment to grab that bonus.
At this point it is rather clear that this project is one of the biggest ICOs of 2016

[freequant]

ICO website is containing deceitful wording regarding claimed security of the setup

We employ state-of-the-art security technology for you, with the storage of fiat and digital assets embedded into an Ethereum contract!

This is completely false. The only thing that can be embedded in and Ethereum contract is Ethereum based assets such as MKR, REP and DGX. Every other crypto will have to be held in custody in centralized hot and cold wallets managed by we don't know who (no information provided). The whole matter of how funds will be handled is completely ignored in spite of the fact this is probably the most important aspect of this project.

Storage of assets: not covered
Audit of assets: not covered
Change of service provider: not covered
Counterparty risk warning: not covered
Transfer of assest in case of change of service provider: not covered
Who stores the assets of open managed funds: not covered
Whether ICN holders get dividends: not covered
The nature and calculation of ICN holders dividends (if applicable): not covered

The whitepapers are more highlevel sales pitches than whitepapers and explain strictly nothing about how the whole thing is going to work technically.

This is really underwhelming.
As far as I can tell, there is nothing preventing this thing from becoming TheDAO meets MtGox

[rindo]

A quick reminder: First week 15% bonus is available only for 2 more hours!

If there is someone here who is still hesitating, this is the last moment to grab that bonus.
At this point it is rather clear that this project is one of the biggest ICOs of 2016

I agree this project is one of the biggest ICOs of 2016 and see to ICO site only 2 hours more left for get 15% bonus you guys i hope you dont missed out it

[cryptobart]

A quick reminder: First week 15% bonus is available only for 2 more hours!

If there is someone here who is still hesitating, this is the last moment to grab that bonus.
At this point it is rather clear that this project is one of the biggest ICOs of 2016

It is one of the biggest, I it will probably raise 15000 - 20000 BTC in the end.

[ICONOMI]

ICO website is containing deceitful wording regarding claimed security of the setup

We employ state-of-the-art security technology for you, with the storage of fiat and digital assets embedded into an Ethereum contract!

This is completely false. The only thing that can be embedded in and Ethereum contract is Ethereum based assets such as MKR, REP and DGX. Every other crypto will have to be held in custody in centralized hot and cold wallets managed by we don't know who (no information provided). The whole matter of how funds will be handled is completely ignored in spite of the fact this is probably the most important aspect of this project.

Storage of assets: not covered
Audit of assets: not covered
Change of service provider: not covered
Counterparty risk warning: not covered
Transfer of assest in case of change of service provider: not covered
Who stores the assets of open managed funds: not covered
Whether ICN holders get dividends: not covered
The nature and calculation of ICN holders dividends (if applicable): not covered

The whitepapers are more highlevel sales pitches than whitepapers and explain strictly nothing about how the whole thing is going to work technically.

This is really underwhelming.
As far as I can tell, there is nothing preventing this thing from becoming TheDAO meets MtGox

Perhaps not the best wording, but you are right. MKR/REP/DGX also Xaurum since not long ago are the ones that can be in Ethereum contracts.

However, note that even Ethereum based assets that we'll hold won't be stored in a smart contract only. This won't be like a giant multisig with all the private keys online.

It will most likely be 4 out of 6 multisig. With each key stored in vaults at least 50km apart and one key stored on another continent and 3 vaults will have access only when 2 authorised person show up together. All that to prevent various scenarios where funds could be lost/stolen/whatever.

Whitepaper on storage of assets will be published by us and given to the community for discussion. We'll make it "open source" and set an industry best practice / standard. This is what is needed, as I didn't know that Bitfinex had all in a giant hot multisig wallet. And I don't know how Kraken or Poloniex is storing funds.

[cointrader83]

One question with the twitter bounty:

Should I retweet just the tweeted post or I need all the retweeted/mentioned/tweeted post from ICONOMI?

Thanks!

[gandame]

1,488.4251 BTC

55,385.5054 ETH

933,405.5023 LSK

0.00 USD

592,986.41 EUR
 
looks pretty good so far   974 investors

I can't believe it, too many whales here, this is the new antshares, people start to buy legit project, nice sign.

Yes in 2 weeks time they do great many investor support for iconomi sign for a good projects to become successfull . I know that its happen for iconomi because many investor invested in. So the support is full for ico i know in the end of ico many more traders support to that one great projects.