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Author Topic: [ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex | Roll-out 2017  (Read 382771 times)
Cassius
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September 18, 2016, 01:04:05 PM
 #121

another ICO... but then 50 / 50.. If 50 million tokens sold in ICO then dev will also get 50 million coins + the cap USD 5 million (if ever it reaches).. Dev has too much of the tokens.. A bit greedy in my opinion - but that just me...

How can they collect $5 million and still hold 50% of the entire tokens, to me I still don't understand these ICO developers guys, you come to the public for funding and you are holding 50% of the shares of the company that no market  valued presently, this is a threat to the investors in  case things go south. They always want to eat their cake and have it. This issue must be resolved before any rational investor invest into it.

You need to read the posts above and the article about what the reserve is for. It's not for the devs, it doesn't dilute anyone's share and without it the project can't work.
The reserve is actually an integral part of the payment mechanism. It doesn't get run down or spent over time.
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September 18, 2016, 01:16:56 PM
 #122

Since this has come up a couple of times and is likely to be a cause of further misunderstandings, I'll paste this article here.
http://bitscan.com/articles/incent-reserve-explainer

Incent reserve: explainer


From the moment the first merchant goes live with Incent, liquidity and maintenance of an orderly market is imperative if the project is to function commercially. As part of our mandate to support market integrity through market-making and to enable merchants to issue and redeem Incent in good order, BitScan will be maintaining a Reserve of bitcoin and Incent. Ultimately, the reason for this is very simple:

Fiat payments from merchants are subject to a lag, whilst cryptocurrency payments need to be settled instantly at the point-of sale.


The Reserve will allow us to 'arbitrage' funds at the point of purchase, sending customers their Incent immediately

Thus BitScan must have the capacity to remit funds immediately to the customer and merchant to avoid the unacceptable delays that would otherwise be involved.

On issuance: When a customer makes a purchase with a credit card and the merchant’s PoS instructs BitScan to send Incent to their account, this needs to happen immediately for the commercial impact of the reward to be maximised; whereas the fiat settlement funds, sent by the merchant after the fact to pay for the Incent issued, take 2-4 days to process. BitScan therefore needs a reserve of Incent to send to the customer as soon as the instruction is received. BitScan also needs a reserve of BTC which is deployed in response to new Incent issuance, to buy the corresponding amount of Incent at market rates. This has the impact of driving demand and rebalancing circulation of Incent. Finally, when cash funds are received to BitScan’s bank they are converted to replenish the Reserve with BTC - and the cycle repeats.

On redemption: When a customer pays a merchant with Incent, BitScan processes both order and transaction, settling with the merchant in cash and subsequently selling the Incent received at market rates to replenish the Reserve. Of note, any redemption for a product or service attracting a discount for Incent triggers a new issuance cycle which ensures that net demand always trumps net supply.

Maintenance of a reserve is therefore critical, as it enables BitScan to acts as a market-maker and assure liquidity, while promoting enduring appreciation of the asset through maintenance of stable circulation. We recognise that such a model is unusual in the cryptocurrency world, where issuance is typically algorithmic and large pre-mines are viewed with scepticism. However, mining new Incent on a pre-set schedule would take no account of variances in demand for the token following product launch. A pre-set schedule that makes no allowances for market conditions risks placing supply pressure on price, with the resultant price volatility undermining our objective of a stable and liquid digital asset whose value appreciates steadily.

Rather than being a liability for Incent, we therefore consider the presence of a reserve and market-maker essential for Incent to have enduring value to consumers, merchants and anyone holding it as a store of value.

In recognition of and in order to reward the additional trust that this facet of our offering represents, profit deriving from market making operations will be shared 50/50 with the Incent holding community, in the form of a dividend distributed on a pro-rata basis, on the first day of every other (even) month.

Reserve tokens, bitcoin and cash will be held in secure, offline accounts, with only an operating balance of crypto held on-exchange as required to perform this critical market-making function.
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September 18, 2016, 01:19:49 PM
 #123

no matter how many times, i still read it as incest Cheesy

You're the only one who always has naughty thoughts in here.

ICONOMI - Fund Management Platform ❘|❘ ICO ❘|❘ DISCUSSION
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September 18, 2016, 06:48:25 PM
 #124

Promote Incent and get rewarded!

Join our Signature Campaign

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September 18, 2016, 07:52:07 PM
 #125

Promote Incent and get rewarded!

Join our Signature Campaign

Thanks for information, incest is interesting

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September 18, 2016, 11:27:15 PM
 #126

Karl/Rob,

1) Have you or will you consider crowd-sourcing merchant sign-ups in exchange for incent? I imagine in addition to some of the large clients you've engaged, you'll also need 10s of thousands of smaller merchants onboard to be successful; building in a merchant referral mechanism seem to make a lot of sense for your model.

2) In your AMA video you mention retaining compliance lawyers in Sydney. Have they reviewed the copy on your website? It seems that some of the language there would not be compliant (at least in the US); for example "ICO investors stand to do very well as token value appreciates post launch, driven by merchant demand" and "How can you be so sure that Incent will appreciate in value when merchants ‘go live’?". I appreciate your confidence, but I think this needs to be re-worded and balanced with a prominent risk disclosure, to avoid trouble down the road.

Thanks for your ideas and feedback.

To your first point, we absolutely will fire up a bounty program to 'crowd-source' merchant sign-ups/merchant referral system, as soon as we have merchant client #1 live in the market.

To your second point, we cover risk, limitations and waivers exhaustively in our prospectus. When it goes live there will also be a pop-up in the token purchase area, which prevents progress until these limitations and waivers have been read and acknowledged.  Notwithstanding, your point is very well made and is something we are acutely aware of and need to get right. While funding by ICO is an unregulated activity (for now) we are determined to proceed as though it were and behave accordingly.

RW.








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September 19, 2016, 05:43:46 AM
 #127

The project looks really promising let's see what the future holds

All the best to your team

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September 19, 2016, 11:15:56 AM
 #128

For a couple of reasons we're extending the crowdfund to the end of November. This is just a placeholder while we update graphics. This shouldn't materially change anything but enables us to get some ducks lined up while ICO is still ongoing. We'll still start on 1 October, and the tiering of bonuses for early investors will remain the same.
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September 19, 2016, 02:28:47 PM
 #129

Looks interersting, looking forward to ICO and more information about bounty.

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KarlKarlsson_
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September 19, 2016, 08:35:46 PM
 #130

Looks interersting, looking forward to ICO and more information about bounty.
Will follow! In the meantime, join the signature campaign, description in second post!

Check out www.yourfriendlynode.com, a new Waves Leasing Pool. Give us a chance and lease with us, we pay out 100% of all earnings!
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September 19, 2016, 10:23:29 PM
 #131

Looks interersting, looking forward to ICO and more information about bounty.
Will follow! In the meantime, join the signature campaign, description in second post!

Hi Karl,

I accidentally put my name AGAIN to the google form for the sig bounty. Would it cause any problem for my bounty in the future with what I've done?

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September 20, 2016, 06:39:10 AM
 #132

Reserve, I am jr member now, I will join when I am a member, or decent ico ends. ICO will be starting soon?
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September 20, 2016, 08:51:39 AM
 #133

Reserve, I am jr member now, I will join when I am a member, or decent ico ends. ICO will be starting soon?

Starts 1 October.
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September 20, 2016, 08:57:12 AM
 #134

that is great i would love to join the signature! thanks dev

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September 20, 2016, 01:42:47 PM
 #135

when is the ICO and for how long? Thanks

OFFICIAL waveslpos.com NODE - LEASING Info, go to: www.WavesLPoS.com
WAVESLPoS.com
bitcoinuserz
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September 20, 2016, 01:52:23 PM
 #136

Looks interesting. I will follow the development  Cool

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BitcoinUKmedia
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September 20, 2016, 02:12:23 PM
 #137

another ICO... but then 50 / 50.. If 50 million tokens sold in ICO then dev will also get 50 million coins + the cap USD 5 million (if ever it reaches).. Dev has too much of the tokens.. A bit greedy in my opinion - but that just me...

How can they collect $5 million and still hold 50% of the entire tokens, to me I still don't understand these ICO developers guys, you come to the public for funding and you are holding 50% of the shares of the company that no market  valued presently, this is a threat to the investors in  case things go south. They always want to eat their cake and have it. This issue must be resolved before any rational investor invest into it.

The latest interview by Blockchain Dynamics explains it more
https://soundcloud.com/errorbytrial/blockchain-dynamics-29-9182016
Check out 17:30 mins for money mechanics and the role of the 50% for 'primary brokerage'

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September 20, 2016, 02:13:43 PM
 #138

'I think we're starting a new era in decentralised money': https://medium.com/incent-loyalty-blog/i-think-were-starting-a-new-era-in-decentralised-money-30fdb213d149#.47gqjaiue
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September 20, 2016, 03:53:06 PM
 #139

I join to the Signature Campaign
Thank you

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KarlKarlsson_
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September 20, 2016, 04:47:34 PM
 #140

Looks interersting, looking forward to ICO and more information about bounty.
Will follow! In the meantime, join the signature campaign, description in second post!

Hi Karl,

I accidentally put my name AGAIN to the google form for the sig bounty. Would it cause any problem for my bounty in the future with what I've done?
No, don't worry. I'll just disqualify one entry from the campaign.  Smiley

Check out www.yourfriendlynode.com, a new Waves Leasing Pool. Give us a chance and lease with us, we pay out 100% of all earnings!
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