[ANN] EQUIBIT (EQB) 📈 A P2P Decentralized Securities Platform 📈

[Equibit]

EDC Sells $250,000 Worth of Equibits on Opening Day

Proceeds will be used to expand team of developers, accelerate product development

ALL AMOUNTS IN U.S. DOLLARS.
 
Feb. 3, 2017

TORONTO, Ontario — Equibit Development Corporation, creator of the Equibit blockchain and blockchain applications for the global securities industry, opened its initial coin offering on Feb. 1 selling $250,000 worth in equibits on the sale’s first day.
 
“We’re off to an incredible start. Over 120,000 equibits have been sold so far,’’ said Chris Horlacher, EDC’s chief executive officer. “This shows the strong support we’re getting from the community and will only get stronger as events unfold over the next two months.”

EDC has offered to sell one million equibits, a new digital asset, out of a total of 22 million equibits potentially available. The sale will run for 59 days to March 31 and is being held on a special sale page at EDC’s website.

Purchased equibits will be delivered to user accounts at EDC’s web-wallet service. EDC will retain any unsold equibits, as according to the sale’s terms and conditions.

The offering started with an initial batch of 100,000 equibits priced at $2 per coin. The crowdsale will adhere to a predetermined schedule, with the price for equibits to increase with each subsequent batch.
 
All equibits sold in the coin offering will be created in the EDC platform’s genesis block, constituting the inception of the system’s operation.
 
Proceeds from the crowdsale will be used to expand EDC’s team of developers, accelerate product development, support and expand the network of equibit supporters, install enterprise infrastructure such as supernodes and market Equibit blockchain applications.

For information on participation in the sale, please see the EDC website at equibit.org.
 
About Equibit Development Corporation
Equibit is the world's first peer-to-peer equity marketplace and a complete platform for issuers to manage their investor relations without need of depositories and transfer agents. Founded by a former securities industry chief financial officer and a team of blockchain development experts, EDC was established with the aim of revolutionizing the securities industry.

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[DonApp]

How many coins have been sold at the pre-ICO? :

http://equibit.org/post/investor-opportunity/

People who buy now are already paying x5! 

And is the total supply 21 or 22 million coins? Article above states 21 million, but ICO page states 22 milion coins?

Thanks for your answers!

So there are 1 million EQBs for the ICO and then 21 million mined. Total is 22 million.

People are not buying at 5x right now it is still in tranche #2

If the pre-ICO was sold at $0.50 then the ICO already started at x4 ($2.00) and at the time of writing of my post was already at x5 ($2.50).

Could anyone from the team clarify the amount and price of pre-ICO?

[DonApp]

How many coins have been sold at the pre-ICO? :

http://equibit.org/post/investor-opportunity/

People who buy now are already paying x5! 

And is the total supply 21 or 22 million coins? Article above states 21 million, but ICO page states 22 milion coins?

Thanks for your answers!

So there are 1 million EQBs for the ICO and then 21 million mined. Total is 22 million.

People are not buying at 5x right now it is still in tranche #2

If the pre-ICO was sold at $0.50 then the ICO already started at x4 ($2.00) and at the time of writing of my post was already at x5 ($2.50).

Could anyone from the team clarify the amount and price of pre-ICO?

Chris mentioned on Slack the pre-sale was also at $2 per EQB, same as the first tranche.

Would be good to update or remove the news post on the website to prevent misinformation. For people like me that do a bit of research before investing it might be confusing.

[DonApp]

Would be good to update or remove the news post on the website to prevent misinformation. For people like me that do a bit of research before investing it might be confusing.

Why don't you join Slack as well, they'll appreciate the feedback, also they are more active there.

https://equibit.herokuapp.com/

Thanks, will do!

[brigabriela470]

How many coins have been sold at the pre-ICO? :

http://equibit.org/post/investor-opportunity/

People who buy now are already paying x5! 

And is the total supply 21 or 22 million coins? Article above states 21 million, but ICO page states 22 milion coins?

Thanks for your answers!

So there are 1 million EQBs for the ICO and then 21 million mined. Total is 22 million.

People are not buying at 5x right now it is still in tranche #2

If the pre-ICO was sold at $0.50 then the ICO already started at x4 ($2.00) and at the time of writing of my post was already at x5 ($2.50).

Could anyone from the team clarify the amount and price of pre-ICO?

if any one is interested then do not be hesitate to share his knowledge before us.thanks ...

[bitcoinsforall]

any bounties?

sign camp?

translation?

[brigabriela470]

How many coins have been sold at the pre-ICO? :

http://equibit.org/post/investor-opportunity/

People who buy now are already paying x5! 

And is the total supply 21 or 22 million coins? Article above states 21 million, but ICO page states 22 milion coins?

Thanks for your answers!

So there are 1 million EQBs for the ICO and then 21 million mined. Total is 22 million.

People are not buying at 5x right now it is still in tranche #2

If the pre-ICO was sold at $0.50 then the ICO already started at x4 ($2.00) and at the time of writing of my post was already at x5 ($2.50).

Could anyone from the team clarify the amount and price of pre-ICO?

is any one there and ready for sharing his knowledge about it.

[Equibit]

KCN news made a little intro video for our ICO.

https://www.youtube.com/watch?v=C1a95WeTowY

[Equibit]

is any one there and ready for sharing his knowledge about it.

We have updated our blogpost to make it clear we didn't sell EQB at $ 0.50 back in 2015.
We added an update pointing to the follow up VC funding post.

Thanks for the feedback.

http://equibit.org/post/investor-opportunity/

[yufu571]

Can we trade EQB at exchanges? When?

[Mr.Charlie]

what about the legal aspect as far as regulations?

[Equibit]

Can we trade EQB at exchanges? When?

EQBs will be available for trade after the network is launched and that will be after Equibit has been polished and tested to our satisfaction.
This is some time away and we will publish a roadmap on our website soon to address timelines.

[Equibit]

what about the legal aspect as far as regulations?

Our system has been evaluated by independent counsel and a securities regulator as well in Canada.

Also our terms of sale are available on the ICO page, we recommend reading them carefully.

https://ico.equibit.org/

In particular:

6. Obligation to Determine If Purchaser Can Purchase EQB in Purchaser’s Jurisdiction
The initial sale constitutes the sale of a legal software product under Canadian law. This product sale is conducted by
EDC, a Canadian company, operating under Canadian law. It is the responsibility of each potential Purchaser of EQB
to determine if the Purchaser can legally purchase EQB in the Purchaser’s jurisdiction."

[Mr.Charlie]

what about the legal aspect as far as regulations?

Our system has been evaluated by independent counsel and a securities regulator as well in Canada.

Also our terms of sale are available on the ICO page, we recommend reading them carefully.

https://ico.equibit.org/

In particular:

6. Obligation to Determine If Purchaser Can Purchase EQB in Purchaser’s Jurisdiction
The initial sale constitutes the sale of a legal software product under Canadian law. This product sale is conducted by
EDC, a Canadian company, operating under Canadian law. It is the responsibility of each potential Purchaser of EQB
to determine if the Purchaser can legally purchase EQB in the Purchaser’s jurisdiction."

thanks for the response. i should of made my post clearer. i was wondering about the regulations to use the blockchain to be used by companies to transfer equities. thanks

[Equibit]

thanks for the response. i should of made my post clearer. i was wondering about the regulations to use the blockchain to be used by companies to transfer equities. thanks

Companies will have to comply to existing regulations, we will have a system for them to register their assets and we'll make sure they are compliant for the part that involves the use of our services. Companies will also have to do their own legal due diligence of course.

[Kaznachej123]

I don't think that without escrow the investment amount will be high. If only from bct-newbies that read nothing, and hope for freebie. These type of investors like to participate in "black holes", like Lithium or Taskie . So let's wait for information.

Have you even read the information available yourself? There's a great whitepaper and the ICO terms are already set. You're too stuck in the Altcoin universe. I find it hard to believe a company which has raised $150,000 and is valued at $3 million would need an escrow.

ICO T&C: http://equibit.org/equibitico.pdf

Thank you for this comment.

I agree with the opinion above, without escrow investing in unclear candy wrappers willbe dangerous. And the price is too overstated. The actual cost will be determined by the market. And, most likely, the price will be x10 less then ico-prices.

That's my worry too. An escrow really is a must and if I'm not mistaken the ico price is about $2. I'm interested but I'm gonna check this out from the sidelines.

If he doesnt have an escrow, its safe to left him negative ratings. Everyone who comes up with a newly made wonky coin should at least have an escrow if he / she wanna people to take him / her seriously.

OK, so ico beginning soon, and we will wait for a putative escrow.

also equities are a highly regulated area in the financial world, the idea is good, but the result incertain;

will the stocks traded already trade on a classical bourse, or will they be entirely different stocks ?

We envision that companies who have already IPO/ITO'd can release a different class of shares on EQB.

I agree with the opinion above, without escrow investing in unclear candy wrappers willbe dangerous. And the price is too overstated. The actual cost will be determined by the market. And, most likely, the price will be x10 less then ico-prices.

That's my worry too. An escrow really is a must and if I'm not mistaken the ico price is about $2. I'm interested but I'm gonna check this out from the sidelines.

If he doesnt have an escrow, its safe to left him negative ratings. Everyone who comes up with a newly made wonky coin should at least have an escrow if he / she wanna people to take him / her seriously.

Details about why we aren't using Escrow can be found here: http://equibit.org/post/ico-escrow-agent/

Why are you not using escrow? is this similar to ICONOMI?I think not using an reputed escrow is the reason this has not gain many investors.

We appreciate your feedback.
Escrow has been used for decades by companies raising funds because the logistics of doing it all themselves was nightmarish. Escrow agents specialize in getting through all of the investor paperwork, collecting investor funds, and making a lump-sum distribution to the company when the offer closes. It’s always been about getting companies capitalized in the most efficient way. Escrow agents have no responsibility or duty to do your due diligence, and they won’t. Nor will they do anything to drive a project forward and deliver, that’s what CEO’s do. EDC has built the infrastructure needed to collect purchaser information and payment and so the primary purpose of using an escrow agent has already been dealt with.

Further details about why we aren't using escrow can be found here: http://equibit.org/post/ico-escrow-agent/

            For me it is a classic study of avoiding responsibility. Yes, there are moments that are not far from the "truth", but the promise remains the same ... - "we are cool guys, you can trust us and not to provoke the failure of its project development escrow, which is not easy to find, and so on. d. " This is a kind of logical contradiction. If you are cool, confident in the success of the guys, why do not guarantee return on investment? We are not asking for guarantees for the project's success ... nothing personal - just business!

[PiotrZielinski]

Your ICO Price is ridiculous.

[Equibit]

Your ICO Price is ridiculous.

We appreciate the feedback and value it.
There are about 50 days to go to the end of our ICO.
We are in no rush to sell tokens and understand some of you may consider the price higher than the usual ICO.
We have evaluated our target market opportunities and we believe the price of the various tranches reflects our estimates well.

We also do not encourage anyone to contribute unless they understand what we are trying to do and see the value for themselves.

Feedback has been noted, for any query you are welcome to join our Slack and talk directly to the team:

https://equibit.herokuapp.com/

[mojosplurr]

Read through all of the pages and every post.

Can we get a clear cut answer, so is the algorithm SHA256 just like bitcoin? Yes or no?

[Equibit]

Read through all of the pages and every post.

Can we get a clear cut answer, so is the algorithm SHA256 just like bitcoin? Yes or no?

We will announce more details on Equibit specs when we get closer to launching the network.
More info will also be available when we publish our roadmap which is due soon.