Can someone explain ICONOMI to me? I understand it's kinda like a hedge fund for crypto but what does the coin (ICN) have to do with it?
Did you read FAQs? If yes then you can read more here:
https://medium.com/iconominetAfter reading this your questions should be answered. If not come back and I will help you as good as I can.
So I read all the facts carefully and I believe I understand is mostly now. The ICN coins is shares in the ICONOMI product its self. So when dividends are paid out (in Ethereum) it's being paid based on how the funds are doing. Buying the ICN coin is different then buying into the ICONOMI.PERFORMANCE which is a diversified fund that is in it's self not a crypto but an actual share that will be traded on real exchanges? So by buying ICN now I am buying into the possibility ICONOMI will succeed?
And later once ICONOMI.PERFORMANCE launches would it be more profitable to hold my ICN coin or to invest in the fund it's self?
How is my understanding?
The ICN coins is shares in the ICONOMI product its self.
No, ICNs are shares of the ICONOMI company itself and where public offered back at their ICO back in September. ICONOMI includes ICNX, ICNP funds and OFM-Platform. ICN holders will receive dividends in form of ETH if ICONOMI makes profit from on of these. Dividends will be paid out weekly. To receive dividends you need to hold at least 42 ICNs and hold the private key for that wallet.
So when dividends are paid out (in Ethereum) it's being paid based on how the funds are doing.
That's correct.
Buying the ICN coin is different then buying into the ICONOMI.PERFORMANCE which is a diversified fund that is in itself not a crypto but an actual share that will be traded on real exchanges?
You are right about that ICNP (ICONOMI Performance Fund) it's a diversified fund but this fund is all about investing in new crypto ICOs. Half of the money which was raised during ICO (~5.7Million) are lying in it and they will invest some of their/our money in different ICOs for example Golem which they invested 5000 ETH in. ATM you can't buy in into ICNP at least they run out of money. ICNP is not likely to be traded on exchanges because you can't invest in it.
ICNX is an index fund where you will be able to buy in once OFM.-Platform is launched. It's like and index fund in the old economy. Low risk - hopefully not low rewarded
So by buying ICN now I am buying into the possibility ICONOMI will succeed?
Yes, that's right. IMO it's most likely that they will succeed (if they don't mess things up) because they aren't reinventing the wheel. If you have a look at fund managers in the old economy mostly have funds worth more than 100 millions of dollars. So if you say ICONOMI is trying to bring this money to crypto you can easily get a feeling where this could be going to be.
I hope I could make things clearer and help you to get a better feeling about ICONOMI. If there are any questions left just post it, I'm glad to help you out.
