[ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex

[mm0104]

It's seems a reasonable question, whether or not the Devs sold into the market today because it seems unreal that anyone would dump the price 22% the day before a known huge buy.
a 32.5797% difference between yesterdays high and the price as I write this.

Ever heard of traders taking profit? Or people jumping on to another rally, in this case Waves?

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[KarlKarlsson_]

Hmmm interesting. Is the transaction live? Because it seems i see no buy pressure as the Encryptotel ICO is Live.

I don't think buy pressure will be created by only a single project. The pressure will be created by many projects/wider adoption all put together at the same time. My maths is not so good, but lets say a project like MobileGo raises 1000 BTC. That is then 1000 * 0.005 =5 BTC that will buy Incent. Then with that 5 BTC at lets say 16500 sats it is 30303. There are many more coins than that in the market at those prices. The Incent purchase of the one project will not drive prices up. On the other hand if there are 10 or 20 of these prices ro large retailers, then the coins will be bought up and prices will go up.

I understand where you are coming from. But so far more than 200k has been raised. And from my understanding, 3% of the purchase from Encryptotel ICO is for Incent token, distributed to the investors. Just wanted to know if it is indeed live as mentioned or not

Peter wasn't 100% happy with the code for the purchasing of the Incent cashbacks so we'll see them starting within the next 24 hours and after that it will be in real time.

Weird that the price went down 22% the day before buying pressure hits from the EncryptoTel's ICO buy of 3% of total funds raised in the ICO..

Odd no ? I mean think about it.

Everyone knows that tomorrow morning the 3% of Total EncryptoTel ICO money raised will be used to buy Incent at the market price...

and the price drops 22%  

So I am going to straight up ask here. I see that on coinmarket https://coinmarketcap.com/assets/incent/
That the Circulating Supply is 23,008,312 INCNT
and  the Total Supply         is 46,016,625 INCNT

So since this coin is a token, that means there are no new coins will ever be created. The number of coins are static form the moment of creation.
The difference between the Circulating Supply and Total supply is 28,008,313 (Pre-mine/Holdback) tokens. Whatever you want to call them.

This is the Official Token
http://wavesexplorer.com/tx/FLbGXzrpqkvucZqsHDcNxePTkh2ChmEi4GdBfDRRJVof

It was issued by this address
http://wavesexplorer.com/address/3PQempWgZs3GwkXXMJ18oHhuk3WwfDk9Na8

That address only has 39,000 tokens in it.

So where are the 28,008,313 undistributed tokens ? What is the address that they are sitting in?

Exactly my question, since the ICO for Encryptotel is already Live, but I see no buying results (3%) in correlation to the ICO. Maybe an explanation is required? Anyone?  

No need to imply anything  

Incent purchases or cash backs will start within the next 24 hours. Our developer, Peter, wasn't 100% happy with the code when Encryptotel ICO started why there is a small delay. After that, the purchases will be made in real time. The dump was simply profit taking and were immediately invested in Waves (was visible on Bittrex).

I'll look for the cold storage address in which the 23m Incent sit.

[Stein]

It's seems a reasonable question, whether or not the Devs sold into the market today because it seems unreal that anyone would dump the price 22% the day before a known huge buy.
a 32.5797% difference between yesterdays high and the price as I write this.

Ever heard of traders taking profit? Or people jumping on to another rally, in this case Waves?

Sure and I 100% hope that's the case. Just looking for some transparency is all.

[Stein]

Incent purchases or cash backs will start within the next 24 hours. Our developer, Peter, wasn't 100% happy with the code when Encryptotel ICO started why there is a small delay. After that, the purchases will be made in real time. The dump was simply profit taking and were immediately invested in Waves (was visible on Bittrex).

I'll look for the cold storage address in which the 23m Incent sit.

That makes me feel alot better Karl. A bunch of healthy skepticism in crypto has saved my butt more than a few times. I hope no one is offended that I am looking after my wallet.

[KarlKarlsson_]

540,013 x current price = around 75 BTC
Why is the issuer moving around 75 BTC 3 days prior to an ICO ?

I assume this was for the trading bot. It is not only buying up but also providing liquidity on illiquid markets.
The trading bot went live some days prior to the ICO.

Where is the illiquid market ? Does providing liquidity = dilution ? Serious question. Does this trading bot also buy as to keep a zero sum ?

I'm just wondering where the 28 million uncirculated coins are sitting.
It's seems a reasonable question, whether or not the Devs sold into the market today because it seems unreal that anyone would dump the price 22% the day before a known huge buy.
a 32.5797% difference between yesterdays high and the price as I write this.

Have you read our whitepaper? Market making is a central part of our business plan and has nothing, absolutely nothing, to do with dilution.

It's simple profit taking, most probably to join the upcoming ICOs on Waves.

Incent purchases or cash backs will start within the next 24 hours. Our developer, Peter, wasn't 100% happy with the code when Encryptotel ICO started why there is a small delay. After that, the purchases will be made in real time. The dump was simply profit taking and were immediately invested in Waves (was visible on Bittrex).

I'll look for the cold storage address in which the 23m Incent sit.

That makes me feel alot better Karl. A bunch of healthy skepticism in crypto has saved my butt more than a few times. I hope no one is offended that I am looking after my wallet.

It's all good. Just remember that such accusations could start rumors which we both don't want, I assume.

[Stein]

Have you read our whitepaper? Market making is a central part of our business plan and has nothing, absolutely nothing, to do with dilution.

It's all good. Just remember that such accusations could start rumors which we both don't want, I assume.

Of course. Never made any accusations, just had pointed questions. Obviously I don't want any rumors, I'd much rather have a nice profit.
I'll go read the whitepaper again. You have to admit thought the timing is whacky... big buy injection, market dumps.. but hey stranger things have happened.

[Epimetheus]

Just keep calm and buy the dip   we will break 20k soon. New floor for sure.

[KarlKarlsson_]

Have you read our whitepaper? Market making is a central part of our business plan and has nothing, absolutely nothing, to do with dilution.

It's all good. Just remember that such accusations could start rumors which we both don't want, I assume.

Of course. Never made any accusations, just had pointed questions. Obviously I don't want any rumors, I'd much rather have a nice profit.
I'll go read the whitepaper again. You have to admit thought the timing is whacky... big buy injection, market dumps.. but hey stranger things have happened.

It might look a bit fishy on first sight but it's perfectly explainable after having a detailed look. I'll post the cold storage address later today!

[ifyousmell]

So the Encryptotel ICO fund for purchasing Incent token will be done tomorrow?
Will there be transparency in that or no?

[KarlKarlsson_]

So the Encryptotel ICO fund for purchasing Incent token will be done tomorrow?
Will there be transparency in that or no?

Exactly.

You should see an effect on the price considering that we will buy Incent for around 7.5k USD but it's not like we will post the transaction details since that would be hundreds of TXs.

[Epimetheus]

And of course don't forget the MobileGO ICO which starts tomorrow. Good times ahead. Still expecting to see 50k at some point in time.

[Stein]

It might look a bit fishy on first sight but it's perfectly explainable after having a detailed look. I'll post the cold storage address later today!

I appreciate it. Thank you. Are you one of the Devs ?

[KarlKarlsson_]

It might look a bit fishy on first sight but it's perfectly explainable after having a detailed look. I'll post the cold storage address later today!

I appreciate it. Thank you. Are you one of the Devs ?

Not a developer but the Community Manager 

[jtalk]

People were keep asking why price isn't rising now finally the begin to reflect the valuation where it should be in the coming times. Current price spike is showing hidden potential and also indicates that after first merchant adoption the INCNT will go just up and up. Keep trust and holding is the key to success.

[Cassius]

Seems that there have been lots of conspiracy theories here overnight
No, we're not strategically emptying the Reserve. Karl will post the address to prove it. It's all available on the blockchain, so we couldn't get away with this and it would be commercial suicide if we did.
It's odd indeed that someone chose to dump at this point. Best we can make out, it's probably one of our publicity partners for the crowdsale. We just settled up in Incent and it seems likely that, showing a remarkable lack of prescience and commitment, they just dropped it on Bittrex. You can lead a horse to water...

[Epimetheus]

Just a few that dumped which is fine. We're holding for the big show.

[ifyousmell]

Seems that there have been lots of conspiracy theories here overnight
No, we're not strategically emptying the Reserve. Karl will post the address to prove it. It's all available on the blockchain, so we couldn't get away with this and it would be commercial suicide if we did.
It's odd indeed that someone chose to dump at this point. Best we can make out, it's probably one of our publicity partners for the crowdsale. We just settled up in Incent and it seems likely that, showing a remarkable lack of prescience and commitment, they just dropped it on Bittrex. You can lead a horse to water...

At the end of the day we would like to see a proven system in which the ICO leads to the buying of Incent tokens on exchanges. We have every right to be concerned since the promised buying of real time Encryptotel ICO was not met as promised.

[KarlKarlsson_]

Seems that there have been lots of conspiracy theories here overnight
No, we're not strategically emptying the Reserve. Karl will post the address to prove it. It's all available on the blockchain, so we couldn't get away with this and it would be commercial suicide if we did.
It's odd indeed that someone chose to dump at this point. Best we can make out, it's probably one of our publicity partners for the crowdsale. We just settled up in Incent and it seems likely that, showing a remarkable lack of prescience and commitment, they just dropped it on Bittrex. You can lead a horse to water...

At the end of the day we would like to see a proven system in which the ICO leads to the buying of Incent tokens on exchanges. We have every right to be concerned since the promised buying of real time Encryptotel ICO was not met as promised.

You're right but only because we didn't feel 100% comfortable with the code. Rather let 24h pass without real-time purchasing than releasing a code which we cannot trust fully.

The system will prove itself but we are definitely not going to show each and every transaction, that would be quite some work load spent for basically nothing. A crypto investment requires trust in the team and this is a point in which we ask for exactly that. You'll see the impact on the volume and price which should be transparency enough.

[ifyousmell]

Seems that there have been lots of conspiracy theories here overnight
No, we're not strategically emptying the Reserve. Karl will post the address to prove it. It's all available on the blockchain, so we couldn't get away with this and it would be commercial suicide if we did.
It's odd indeed that someone chose to dump at this point. Best we can make out, it's probably one of our publicity partners for the crowdsale. We just settled up in Incent and it seems likely that, showing a remarkable lack of prescience and commitment, they just dropped it on Bittrex. You can lead a horse to water...

At the end of the day we would like to see a proven system in which the ICO leads to the buying of Incent tokens on exchanges. We have every right to be concerned since the promised buying of real time Encryptotel ICO was not met as promised.

You're right but only because we didn't feel 100% comfortable with the code. Rather let 24h pass without real-time purchasing than releasing a code which we cannot trust fully.

The system will prove itself but we are definitely not going to show each and every transaction, that would be quite some work load spent for basically nothing. A crypto investment requires trust in the team and this is a point in which we ask for exactly that. You'll see the impact on the volume and price which should be transparency enough.

Understood, only time will tell. Thanks for your time and explanation.

[KarlKarlsson_]

It might look a bit fishy on first sight but it's perfectly explainable after having a detailed look. I'll post the cold storage address later today!

I appreciate it. Thank you. Are you one of the Devs ?

As promised: http://www.wavesgo.com/account.html?3P6u5wdyDQt6FBiwCeSXPuNY3RzCAEYe1cg