ICONOMI - Live for today. Invest for tomorrow.

[MoveCrypto]

I may have to do some more research, but I have a theory that ICN is:

The first ever deflationary crypto

Bitcrystals is an example that springs to mind. They're burned and the supply is ever-decreasing.

So not the first. There'll be others too, I'm sure.

Interesting.  I see they have burnt about 3M BCY in total (6.7% of supply), or $183k worth if you take the USD value at the time of the burns:

https://bitcointalk.org/index.php?topic=957797.msg18109534#msg18109534

Looks like ICN has some catching up to do before it becomes the biggest USD value buy/burned in crypto.

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[Mendeleev]

Burning token rather than dividends, I understand this circumvent the legality of
paying dividends.

Burning, hmmm.. how does this work and how do we know these tokens are out
of circulation.

Anyone like to give their two penny worth?

They get sent here:

https://etherscan.io/address/0x0000000000000000000000000000000000000000

This is the burn address. Any token sent here is lost for good.

If Iconomi set up their own "burn" address, then they'll be wasting their time. Or trying to pull some shady shit. So this is where you should expect to see the tokens go.

[MoveCrypto]

Burning token rather than dividends, I understand this circumvent the legality of
paying dividends.

Burning, hmmm.. how does this work and how do we know these tokens are out
of circulation.

Anyone like to give their two penny worth?

They get sent here:

https://etherscan.io/address/0x0000000000000000000000000000000000000000

This is the burn address. Any token sent here is lost for good.

If Iconomi set up their own "burn" address, then they'll be wasting their time. Or trying to pull some shady shit. So this is where you should expect to see the tokens go.

Jani said they will send them to a burn smart contract.  Because once EIP 156 is implemented, people will be able to re-claim their "stuck" tokens from burn addresses such as this one: 0x0000000000000000000000000000000000000000

https://github.com/ethereum/EIPs/issues/156

[DomainMagnate]

Hold your horses people. Dont create again FOMO too big so price can rise in a stable fashion

You are right.People are so impatient they start selling at smallest increase in value.This further escalates sell orders leading to dump.I hope nobody sell till $2

[Mendeleev]

Burning token rather than dividends, I understand this circumvent the legality of
paying dividends.

Burning, hmmm.. how does this work and how do we know these tokens are out
of circulation.

Anyone like to give their two penny worth?

They get sent here:

https://etherscan.io/address/0x0000000000000000000000000000000000000000

This is the burn address. Any token sent here is lost for good.

If Iconomi set up their own "burn" address, then they'll be wasting their time. Or trying to pull some shady shit. So this is where you should expect to see the tokens go.

Jani said they will send them to a burn smart contract.  Because once EIP 156 is implemented, people will be able to re-claim their "stuck" tokens from burn addresses such as this one: 0x0000000000000000000000000000000000000000

https://github.com/ethereum/EIPs/issues/156

Then I stand corrected!

 

[trumpc2016]

booom so much talking

[snkns]

I may have to do some more research, but I have a theory that ICN is:

The first ever deflationary crypto

Bitcrystals is an example that springs to mind. They're burned and the supply is ever-decreasing.

So not the first. There'll be others too, I'm sure.

Synereo did it too as a price-pumping gimmick before their 2nd ICO round debacle.

https://blog.synereo.com/2016/09/16/synereo-burns-half-of-all-amps-in-existence/

[RayX12]

I may have to do some more research, but I have a theory that ICN is:

The first ever deflationary crypto

Bitcrystals is an example that springs to mind. They're burned and the supply is ever-decreasing.

So not the first. There'll be others too, I'm sure.

Synereo did it too as a price-pumping gimmick before their 2nd ICO round debacle.

https://blog.synereo.com/2016/09/16/synereo-burns-half-of-all-amps-in-existence/

No comparison here.  AMP holds so many tokens that can be brought to the market (inflation and dilution) at their whim.   AMPs buyback was a gimmick to boost price and nothing like what Iconomi is doing on April 1st.

[RayX12]

Congratulations ICN, now you are really on the right track! 

[stormia]

Burning token rather than dividends, I understand this circumvent the legality of
paying dividends.

Burning, hmmm.. how does this work and how do we know these tokens are out
of circulation.

Anyone like to give their two penny worth?

This should hopefully answer some of your questions: https://medium.com/iconominet/iconomi-introduces-repayment-programme-54bfa449d458


In addition to what MoveCrypto replied:

Jani said they will send them to a burn smart contract.  Because once EIP 156 is implemented, people will be able to re-claim their "stuck" tokens from burn addresses such as this one: 0x0000000000000000000000000000000000000000

https://github.com/ethereum/EIPs/issues/156

[Mendeleev]

I may have to do some more research, but I have a theory that ICN is:

The first ever deflationary crypto

Bitcrystals is an example that springs to mind. They're burned and the supply is ever-decreasing.

So not the first. There'll be others too, I'm sure.

Synereo did it too as a price-pumping gimmick before their 2nd ICO round debacle.

https://blog.synereo.com/2016/09/16/synereo-burns-half-of-all-amps-in-existence/

No comparison here.  AMP holds so many tokens that can be brought to the market (inflation and dilution) at their whim.   AMPs buyback was a gimmick to boost price and nothing like what Iconomi is doing on April 1st.

https://en.wikipedia.org/wiki/April_Fools%27_Day

    

[rekcahxfb_foundation]

Why is price going to up? is there any news

[cryptodv]

Good job devs, ICONOMI is almost at a $60 Million Market Cap. Not an easy feat, but you're more than the half way point to $100 MILLLLLLION!! 

[dragonmoney]

ICN is going to hit $1 this week! I actually think its smart that they are buying back. Dividends have all sorts of weird tax implications with it, esp with something like cryptocurrency.

[Marvintymo]

ICN is going to hit $1 this week! I actually think its smart that they are buying back. Dividends have all sorts of weird tax implications with it, esp with something like cryptocurrency.

Yes, I think without the dividend structure the legal issues, especially for U.S investors, has been minimized if not eradicated. This is why many think ICN will soon be listed on Polo.

[stormia]

ICN is going to hit $1 this week! I actually think its smart that they are buying back. Dividends have all sorts of weird tax implications with it, esp with something like cryptocurrency.

Yes, I think without the dividend structure the legal issues, especially for U.S investors, has been minimized if not eradicated. This is why many think ICN will soon be listed on Polo.

Sure seems like it ought to be listed, I can't think of any reason why it wouldn't now?

[thepo1m]

ICN is going to hit $1 this week! I actually think its smart that they are buying back. Dividends have all sorts of weird tax implications with it, esp with something like cryptocurrency.

Yes, I think without the dividend structure the legal issues, especially for U.S investors, has been minimized if not eradicated. This is why many think ICN will soon be listed on Polo.

Sure seems like it ought to be listed, I can't think of any reason why it wouldn't now?

I can tell you this even bring more legal issue, because if the team continue to buy and burn the tokens, this will lead to centralisation of tokens in the hands of developers again how do investors that has been promised initially during the ICO that theare going to be paid dividends in Ethers going to get value for his investment, please don't tell me the price would go up because that is specualtion. This is not going to end well because it should be the developers burning their tokens not by manipulating the price

[Daparski]

ICN is going to hit $1 this week! I actually think its smart that they are buying back. Dividends have all sorts of weird tax implications with it, esp with something like cryptocurrency.

Yes, I think without the dividend structure the legal issues, especially for U.S investors, has been minimized if not eradicated. This is why many think ICN will soon be listed on Polo.

Sure seems like it ought to be listed, I can't think of any reason why it wouldn't now?

I can tell you this even bring more legal issue, because if the team continue to buy and burn the tokens, this will lead to centralisation of tokens in the hands of developers again how do investors that has been promised initially during the ICO that theare going to be paid dividends in Ethers going to get value for his investment, please don't tell me the price would go up because that is specualtion. This is not going to end well because it should be the developers burning their tokens not by manipulating the price

if the team continue to buy and burn the tokens, this will lead to centralisation of tokens in the hands of developers

How do you get to that? Burning tokens means that no one can use them ever again

[malcovixeffect]

ICN is going to hit $1 this week! I actually think its smart that they are buying back. Dividends have all sorts of weird tax implications with it, esp with something like cryptocurrency.

Yes, I think without the dividend structure the legal issues, especially for U.S investors, has been minimized if not eradicated. This is why many think ICN will soon be listed on Polo.

Sure seems like it ought to be listed, I can't think of any reason why it wouldn't now?

I can tell you this even bring more legal issue, because if the team continue to buy and burn the tokens, this will lead to centralisation of tokens in the hands of developers again how do investors that has been promised initially during the ICO that theare going to be paid dividends in Ethers going to get value for his investment, please don't tell me the price would go up because that is specualtion. This is not going to end well because it should be the developers burning their tokens not by manipulating the price

Then please buy shares of microsoft and when they decide to do another billion of $ buy back then try to sue them cos its illegal  big idiot.

[Hypolite]

So for potential fudders and those looking to have cheap ICNs here is a company for which I worked and who carried out a share buyback without any worry. Many companies do this and all this is legal.

I have only one word for serious investors HOLD

http://247wallst.com/retail/2016/05/31/why-even-a-100-million-stock-buyback-matters-for-office-depot/