Rebranded to Duality Blockchain Solutions

[SilkNetwork]

We've moved to: https://bitcointalk.org/index.php?topic=1902896

Dynamic Market: https://bittrex.com/Market/Index?MarketName=BTC-DYN
Wallet: https://github.com/duality-solutions/Dynamic/releases
Sequence Market: https://bittrex.com/Market/Index?MarketName=BTC-SEQ
Wallet: https://github.com/duality-solutions/Sequence/releases
https://forum.duality.solutions/
https://duality.solutions/
https://twitter.com/dualitychain
https://www.facebook.com/DualityBlockchainSolutions/
https://www.dualitychat.herokuapp.com
https://dualitypost.wordpress.com/

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[dbt1033]

How will the value of Silk be determined for ICO buy in to DarkSilk?  Will it be assessed at the end of the ICO or the beginning?

For example, Silkcoin is currently $.0004.  1 DarkSilk will be purchasable for $.25.  As I speak, it would take 625 Silkcoin (silk after swap) to purchase 1 DarkSilk. 

How will you handle Silk having a value of $.0004 at the beginning of the ICO, and (random number) $.05 by the end of the ICO?  If I dump my silk in to DarkSilk, what rate of exchange will I receive?

[ttoroie]

Now we're talking
The Camel will soon rise like a Phoenix

[SilkNetwork]

How will the value of Silk be determined for ICO buy in to DarkSilk?  Will it be assessed at the end of the ICO or the beginning?

For example, Silkcoin is currently $.0004.  1 DarkSilk will be purchasable for $.25.  As I speak, it would take 625 Silkcoin (silk after swap) to purchase 1 DarkSilk.  

How will you handle Silk having a value of $.0004 at the beginning of the ICO, and (random number) $.05 by the end of the ICO?  If I dump my silk in to DarkSilk, what rate of exchange will I receive?

DarkSilk price will be set at the end of the ICO, although we start out with a minimum of $ 0.25 the price could increase due to demand. What we consider important is the USD value of the purchased currency, be it from BTC or SLK. Understandably Silk price fluctuates more than BTC but that's buyers risk. We will most probably use a weighted average for Silk in order to calculate its contribution to the ICO.

We hope this answers your question.

[dbt1033]

How will the value of Silk be determined for ICO buy in to DarkSilk?  Will it be assessed at the end of the ICO or the beginning?

For example, Silkcoin is currently $.0004.  1 DarkSilk will be purchasable for $.25.  As I speak, it would take 625 Silkcoin (silk after swap) to purchase 1 DarkSilk.  

How will you handle Silk having a value of $.0004 at the beginning of the ICO, and (random number) $.05 by the end of the ICO?  If I dump my silk in to DarkSilk, what rate of exchange will I receive?

DarkSilk price will be set at the end of the ICO, although we start out with a minimum of $ 0.25 the price could increase due to demand. What we consider important is the USD value of the purchased currency, be it from BTC or SLK. Understandably Silk price fluctuates more than BTC but thats buyers risk. We will most probably use a weighed average for Silk in order to calculate its contribution to the ICO.

I hope this asnwers your question.

But then the people who purchase Silk at the end of the ICO end up fucked if they exchange for DarkSilk... because they will be faced with immediate depreciation of purchased value due to averaging.

Silk holders want to play too.  Tough luck?  I like you guys either way.  

Maybe it's best to not use Silk holdings to participate in the ICO.

[SilkNetwork]

How will the value of Silk be determined for ICO buy in to DarkSilk?  Will it be assessed at the end of the ICO or the beginning?

For example, Silkcoin is currently $.0004.  1 DarkSilk will be purchasable for $.25.  As I speak, it would take 625 Silkcoin (silk after swap) to purchase 1 DarkSilk.  

How will you handle Silk having a value of $.0004 at the beginning of the ICO, and (random number) $.05 by the end of the ICO?  If I dump my silk in to DarkSilk, what rate of exchange will I receive?

DarkSilk price will be set at the end of the ICO, although we start out with a minimum of $ 0.25 the price could increase due to demand. What we consider important is the USD value of the purchased currency, be it from BTC or SLK. Understandably Silk price fluctuates more than BTC but thats buyers risk. We will most probably use a weighed average for Silk in order to calculate its contribution to the ICO.

I hope this asnwers your question.

But then the people who purchase Silk at the end of the ICO end up fucked if they exchange for DarkSilk... because they will be faced with immediate depreciation of purchased value due to averaging.

Silk holders want to play too.  Tough luck?  I like you guys either way.  

Maybe it's best to not use Silk holdings to participate in the ICO.

Crypto has a lot of volatility, you know this. To speculate in favor of certain price points to get an optimal swap is something we cannot facilitate. We believe Silk has a very bright future, if a Silk holder decides to exchange to DarkSilk then we expect buyers due diligence.

[dbt1033]

How will the value of Silk be determined for ICO buy in to DarkSilk?  Will it be assessed at the end of the ICO or the beginning?

For example, Silkcoin is currently $.0004.  1 DarkSilk will be purchasable for $.25.  As I speak, it would take 625 Silkcoin (silk after swap) to purchase 1 DarkSilk.  

How will you handle Silk having a value of $.0004 at the beginning of the ICO, and (random number) $.05 by the end of the ICO?  If I dump my silk in to DarkSilk, what rate of exchange will I receive?

DarkSilk price will be set at the end of the ICO, although we start out with a minimum of $ 0.25 the price could increase due to demand. What we consider important is the USD value of the purchased currency, be it from BTC or SLK. Understandably Silk price fluctuates more than BTC but thats buyers risk. We will most probably use a weighed average for Silk in order to calculate its contribution to the ICO.

I hope this asnwers your question.

But then the people who purchase Silk at the end of the ICO end up fucked if they exchange for DarkSilk... because they will be faced with immediate depreciation of purchased value due to averaging.

Silk holders want to play too.  Tough luck?  I like you guys either way.  

Maybe it's best to not use Silk holdings to participate in the ICO.

Crypto has a lot of volatility, you know this. To speculate in favor of certain price points to get an optimal swap is something we cannot facilitate. We believe Silk has a very bright future, if a Silk holder decides to exchange to DarkSilk then we expect buyers due diligence.

Fair enough.  Holding my silk coin like a boss, then swapping to silk.  

I would like to see an official statement on the matter (in the OP perhaps).  If it will be averaged, or handled in some other way.

Thanks guys. Good luck.

[ttoroie]

”The Phoenix hope,
Can wing her way through the desert skies,
And still defying fortune’s spite;
Revives from the ashes and rise.”

                                                                                                                                                                                     Miguel de Cervantes

[SilkNetwork]

And please guys... Get Trex to open wallets before the 5th. People would really appreciate that.

We have requested it to be opened on the 4th.

Awaiting a reply.

[dbt1033]

And please guys... Get Trex to open wallets before the 5th. People would really appreciate that.

We have requested it to be opened on the 4th.

Awaiting a reply.

Excellent.  Thanks for your prompt responses

[Karartma1]

Two things from my side: a) why is the SILK POW reward set at zero? Mistake?
b) There will be 2 billion new slk as in the total supply: SILK and SLK will we swapped 1:1 but the first is around 49 million coins. Why is that?

As for the rest it seems an interesting project and you guys are putting your face on it which clearly means a lot.

[SilkNetwork]

Two things from my side: a) why is the SILK POW reward set at zero? Mistake?
b) There will be 2 billion new slk as in the total supply: SILK and SLK will we swapped 1:1 but the first is around 49 million coins. Why is that?

As for the rest it seems an interesting project and you guys are putting your face on it which clearly means a lot.

The Silk PoW period has 0 reward blocks and the PoW period is simply there to complete the transactions for the swap period. After the PoW period finishes it will be a pure PoS coin.

Silk Network will mine these blocks and no reward and no fees are are awarded to the Silk Network mining these blocks.

The first block of the Silk blockchain contains the amount needed to facilitate the 1:1 swap from Silkcoin->Silk, which will equal the current supply when the Bittrex deposit period starts, minus the 4 million that are held in the address associated with the MintPal/Moolah scandal/theft.

The 2 billion coin total is the total amount of coins that can ever be created from PoS mining, not the amount of coins in supply from launch.

[pescadorloco69]

Good job guys all is starting to look good!

[Karartma1]

Ok that sounds clear. Thanks for the clarifications.
It's good you have been accepted by bittrex which is one of the crypto exchanges I use the most. I bought my first Silkcoin there in 2014

[xnyz]

Good job guys!

[Xtrata]

Good job everyone involved, looking good. 

[WhiteZer0]

Good job guys!  

[dbt1033]

https://twitter.com/CryptoMessiah/status/770628103089586176

Please like Silkers.  It will help draw more attention to the thread.

Likes will prioritize our position on twitter.  They make sure more people see the post.

Good job guys, over 1,500 views so far.  More likes will rank us higher on $ tagged pages.   Turn up the volume.  It's time to grow the community.

[drizzle2405]

People are going to look back on this ANN a couple years from now and be like damn....  Mark it!

[ttoroie]

To reiterate what was said in the OP:

• Bittrex Silkcoin->Silk swap deposit period starts 4th September, finishes 17th September
• Silk Market opens on Bittrex & DarkSilk ICO starts - 17th September
• DarkSilk ICO finishes and DarkSilk Market opens on Bittrex - 17th October

Sadly this does mean that there will be a period without a market from 5th to 17th, this is correct.

There were two years to buy and sell Silkcoin
You still have plenty of time though, till the swap starts