ICONOMI - Live for today. Invest for tomorrow.

[btctube]

With bitcoin rising, i'd rather move my money to BTC until the btc price stables. I think ICN will still dip down to $0.30 cents upon seeing on kraken charts. There are so much new ICOs too, those users are also going to move thier BTC to it and wait til there is a new update.

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[stormia]

so they did hold preciously their btc (byteball linked ?) and had an important benefit with them in dollar terms, but mobilized recently 1,900 btc out of 6,900 :does anybody know what was this movement for? an important investment move anyway...

Good question.

This will hopefully be shown in future quarterly reports. We're at the start of the second quarter, and the first buyback period was stated to last 90 days:

1,000 ETH will be used to purchase ICN in a 90 day period starting from 1st of April 2017.

... with a quarterly report in Q2, after this period has ended:

ICONOMI will disclose its ICN purchases i.e. total number of tokens purchased and the average price paid per token in a quarterly report for Q2 2017.

(Source: https://medium.com/iconominet/iconomi-introduces-repayment-programme-54bfa449d458)

These two pieces of information tell us that the quarterly report won't be published until the end of June (the end of Q2, and the end of the 90 day buyback period)

If this is a full quarterly report, then the BTC (and other spending) should be accounted for in that report, as well as the ICN buyback information.

Note to Iconomi team: A summary email (which investors receive every so often) is NOT a quarterly report.

Investors should expect to see a detailed report of BTC (and any other funds) spent, as well as information on the 1000 ETH buyback, shortly after the end of June. References to blockchain transactions for any blockchain spending would also be beneficial to the diligent investor.

If this report contains ONLY the buyback information, then you should be making it clear that you want to see more detailed information on spending, and income, in a proper published report. And not just an 'update' email.

As we have just exited Q1, it's possible that a Q1 report will be shared soon, but there's been no indication of this so far, and I don't expect this to happen. It would be nice if it did, though.

This is how we encourage transparency, and accountability.

I look forward to seeing how much detail this report will contain.

As always, Mendeleev has got your back  

I agree completely with you here Mendeleev. Simple email summaries do not count as quarterly reports. And in general the team needs to be better about transparency and communication with investors. For example it would be nice to know what the 450 BTC moved today is being moved for. The sooner the better so that peoples' imaginations don't run wild.

[mhd japar siregar]

With bitcoin rising, i'd rather move my money to BTC until the btc price stables. I think ICN will still dip down to $0.30 cents upon seeing on kraken charts. There are so much new ICOs too, those users are also going to move thier BTC to it and wait til there is a new update.

Yes you're right, my trade yesterday almost failed when bought in kraken instantly prices decline
Lucky I managed to sell it in Liqui.io for the moment I ceased trading ICN

[btctube]

ICN sucks...no poloniex

Its an old fud. But if you also sold your ICN to buy LTC like those who already did, then have a good ride with LTC. hope you all profit. LTC pump is almost calling everyone to join.

[XbladeX]

ICN sucks...no poloniex

No polo no pump no 100 000BTC pumps like xrp

[rendravolt]

BTC began to rise, ICN will fall down.

[jacaf01]

With bitcoin rising, i'd rather move my money to BTC until the btc price stables. I think ICN will still dip down to $0.30 cents upon seeing on kraken charts. There are so much new ICOs too, those users are also going to move thier BTC to it and wait til there is a new update.

That is my concern with the buy back, it makes even the tokens more susceptible to dumps. Factom is one nice project with less than 10 million total token but it is one token that is very reactive to Bitcoin price rise.

[stormia]

It's almost like the devs priority is developing and finishing the platform. How dare they not care about pump and dumps!

[XbladeX]

It's almost like the devs priority is developing and finishing the platform. How dare they not care about pump and dumps!

yea and that is why before news comes we have pump... maybe some devs not care but their friends do care

[baomoremoney]

It's almost like the devs priority is developing and finishing the platform. How dare they not care about pump and dumps!

yea and that is why before news comes we have pump... maybe some devs not care but their friends do care

Actually the good news is incoming very soon, so we have to hold instead of selling, we can make serious money from news pump.

[BitBanksy]

Basically 5 reasons why folks are starting to sell:

1) Platform still beta... (weren't suppose to become public last December?)

2) Change of terms... (from a much anticipated dividends repayment to a non profitable buyback program)

3) Change of direction... (still very unclear why half the board has left for a new venture, and how wefund.it will benefit ICONOMI)

4) Lack of exchanges... (perhaps because big exchanges are getting uninterested for the aforementioned reasons)

5) The team will soon have access the ICO funds (the infamous 13M 🔒...)

Not trying to FUD but the reality is that many start doubting the seriousness of this project... Perhaps ICONOMI should release a serious and frank update instead of being so vague...

[Daparski]

Basically 5 reasons why folks are starting to sell:

1) Platform still beta... (weren't suppose to become public last December?)

2) Change of terms... (from a much anticipated dividends repayment to a non profitable buyback program)

3) Change of direction... (still very unclear why half the board has left for a new venture, and how wefund.it will benefit ICONOMI)

4) Lack of exchanges... (perhaps because big exchanges are getting uninterested for the aforementioned reasons)

5) The team will soon have access the ICO funds (the infamous 13M 🔒...)

Not trying to FUD but the reality is that many start doubting the seriousness of this project... Perhaps ICONOMI should release a serious and frank update instead of being so vague...

1. Public last December was communicated 4 months ago, it can't be the reason people are selling now. Number of tokens on Kraken hasen't changed much since then (15-20% of supply)

2. It wasn't change of terms, but change of profit distribution. There is a big difference. Also, the market reacted positive on that change. Last ATH is the new support

3. Change of direction - common... It is more focus on the same direction which was, and still is ICNP, ICNX, OFM

4. Lack of exchanges as you refer to was from Day1

5. Team will soon have access to 1/12 of their ICN - they are vested on a monthly release

[pinkman12345]

Am i able to buy ICNX yet?

[sfetsas]

so they did hold preciously their btc (byteball linked ?) and had an important benefit with them in dollar terms, but mobilized recently 1,900 btc out of 6,900 :does anybody know what was this movement for? an important investment move anyway...

Good question.

This will hopefully be shown in future quarterly reports. We're at the start of the second quarter, and the first buyback period was stated to last 90 days:

1,000 ETH will be used to purchase ICN in a 90 day period starting from 1st of April 2017.

... with a quarterly report in Q2, after this period has ended:

ICONOMI will disclose its ICN purchases i.e. total number of tokens purchased and the average price paid per token in a quarterly report for Q2 2017.

(Source: https://medium.com/iconominet/iconomi-introduces-repayment-programme-54bfa449d458)

These two pieces of information tell us that the quarterly report won't be published until the end of June (the end of Q2, and the end of the 90 day buyback period)

If this is a full quarterly report, then the BTC (and other spending) should be accounted for in that report, as well as the ICN buyback information.

Note to Iconomi team: A summary email (which investors receive every so often) is NOT a quarterly report.

Investors should expect to see a detailed report of BTC (and any other funds) spent, as well as information on the 1000 ETH buyback, shortly after the end of June. References to blockchain transactions for any blockchain spending would also be beneficial to the diligent investor.

If this report contains ONLY the buyback information, then you should be making it clear that you want to see more detailed information on spending, and income, in a proper published report. And not just an 'update' email.

As we have just exited Q1, it's possible that a Q1 report will be shared soon, but there's been no indication of this so far, and I don't expect this to happen. It would be nice if it did, though.

This is how we encourage transparency, and accountability.

I look forward to seeing how much detail this report will contain.

As always, Mendeleev has got your back  

This is something we expect from ICONOMI team. A proper report and transparency

[Ano]

Iconomi is still long term project but some people want quick money so if someone don't have any patience than he is in crypto related project. I will hold my tokens because this will be precious.

[zahra4577]

Basically 5 reasons why folks are starting to sell:

1) Platform still beta... (weren't suppose to become public last December?)

2) Change of terms... (from a much anticipated dividends repayment to a non profitable buyback program)

3) Change of direction... (still very unclear why half the board has left for a new venture, and how wefund.it will benefit ICONOMI)

4) Lack of exchanges... (perhaps because big exchanges are getting uninterested for the aforementioned reasons)

5) The team will soon have access the ICO funds (the infamous 13M .)

Not trying to FUD but the reality is that many start doubting the seriousness of this project... Perhaps ICONOMI should release a serious and frank update instead of being so vague...

The one and only reason for price fall is bitcoin is picking up again.See what is going on with Dash and ETH.Why are the falling now?.Do you doubt Ethereum because its price are falling now?.
Do not panic as soon as btcget stable, icn will go up.

[TheTruthIsOutThere]

Basically 5 reasons why folks are starting to sell:

1) Platform still beta... (weren't suppose to become public last December?)

2) Change of terms... (from a much anticipated dividends repayment to a non profitable buyback program)

3) Change of direction... (still very unclear why half the board has left for a new venture, and how wefund.it will benefit ICONOMI)

4) Lack of exchanges... (perhaps because big exchanges are getting uninterested for the aforementioned reasons)

5) The team will soon have access the ICO funds (the infamous 13M 🔒...)

Not trying to FUD but the reality is that many start doubting the seriousness of this project... Perhaps ICONOMI should release a serious and frank update instead of being so vague...

1. Public last December was communicated 4 months ago, it can't be the reason people are selling now. Number of tokens on Kraken hasen't changed much since then (15-20% of supply)

2. It wasn't change of terms, but change of profit distribution. There is a big difference. Also, the market reacted positive on that change. Last ATH is the new support

3. Change of direction - common... It is more focus on the same direction which was, and still is ICNP, ICNX, OFM

4. Lack of exchanges as you refer to was from Day1

5. Team will soon have access to 1/12 of their ICN - they are vested on a monthly release

^^^^^^^^^^^^^^^^^^^^^^^^^^^

The shill is strong with this one.

Am starting to think I should invest in Toss My Salad instead or better still, get some of Mona's Melons.

 

[petricag]

2. It wasn't change of terms, but change of profit distribution. There is a big difference. Also, the market reacted positive on that change. Last ATH is the new support

ATH can't be a support ... that is the new resistance that will need to be broken in order to go to a new ATH. Then and just then this current last ATH will be considered the new support.   

4. Lack of exchanges as you refer to was from Day1

Yes, from day 1 they bullshit with the NDA ... they just did an agreement with poloniex to not list ICN there so that the polo pump will occur when they want (when they will be able to dump their 13 mil tokens) 

5. Team will soon have access to 1/12 of their ICN - they are vested on a monthly release

Until they can prove otherwise I say they had access to those tokens all the time ... come on now ... we are in the tech ... there are means to assure this ... not in the religion class where you ask me to trust you. I am sure many invested because they trusted the team will ensure in a technical way all these constraints and not by appealing to our faith

Luckily now we can reload the bags of ICN for the next pump. Can't believe there were shills that actually bought at 60+k ... what the fuck they were thinking?     

[spendawgs]

Its about time someone from the dev team fills everyone in

[btvGainer]

With bitcoin rising, i'd rather move my money to BTC until the btc price stables. I think ICN will still dip down to $0.30 cents upon seeing on kraken charts. There are so much new ICOs too, those users are also going to move thier BTC to it and wait til there is a new update.

Yes you're right, my trade yesterday almost failed when bought in kraken instantly prices decline
Lucky I managed to sell it in Liqui.io for the moment I ceased trading ICN

Buyback didn't raise the ICN price.It was expected to go to $1 after buyback but btc price played the spoilsport.
Now we can only wait till next btc dump for ICN pump.