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Author Topic: ICONOMI - Live for today. Invest for tomorrow.  (Read 558859 times)
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April 03, 2017, 01:05:04 PM
 #3121

h0ld0r!

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April 03, 2017, 01:05:44 PM
 #3122

If you'd put the same amount of effort into something else than posting in this thread I believe you'd already be a millionare. The cure for aids would be a piece of cake for such an analytical mind.

You might be right there.

Can't argue with that.

Anybody have Martin Shkreli's number? I have a business proposition for him...
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April 03, 2017, 01:15:26 PM
 #3123


True, those 13M ICN could be transferred to different address earlier. The thing is that it's not a 5 min effort. This has to be configured (smart contract, multi-sig and stuff like that, you know), tested, and retested. Or in other words - shifting focus from core development into this.
Priority was releasing the platform for beta testers, which will lead to earlier public release (so you can finally buy ICNX and perhaps be a little bit less bitter).

Call me crazy, but I have the feeling that if they would do that you or someone else would complain about loosing focus on the main goal.

13M ICN will removed from ICO address, I still can't see how this is less transparent doing it before the vesting starts.

What gives it the most weight is that it was stated it would happen, by a representative of the team. If you hadn't asked, and Jaka never gave you that answer, I doubt I would have came up with the idea myself.
...


So your concern is with the way it was communicated, and not with them actually secretly trading?
Otherwise it would make no sense to even state something. If they wanted to do that, why not just saying that the addresses will be created short time before the vesting starts? Much easier to trade them locked ICN, no?

You aren't addressing the point I'm making. Just focused on one line, too.

Let's say I find it unlikely they would be secretly trading. But I don't KNOW that. I have to just believe it and trust it.

You're right... if you planned to do that, you would be less likely to tell the investors about moving it to a new address. But that assumption proves nothing. E.g. Jaka may have slipped up there. Or they may have decided to mess with their ICN weeks after that AMA. It doesn't matter, because you - as an investor - still have nothing to prove it one way or the other. You must revert to trust/faith.

I'm not saying any of that ACTUALLY happened, but the fact remains... they stated this move would be made, for investor peace of mind, and then didn't follow through. Same with the expense reports.

My way of approaching this is "If they have nothing to hide, then let us see that info"... the info that was promised. Then nobody loses. We have the transparency that was promised, and nothing changes for them.

Your way is like "But do we really need to see that right now? I'm pretty sure there's no funny business going on, so it's not a big concern"

That's the sort of "looking the other way" that people can take advantage of.

I'm not drawing any solid conclusions, except maybe "the team don't stick to what they say"

If they'd said "Our ICN will be locked on the ICO site" at the start, at least I wouldn't be able to argue about it now. But they said something that sounded better. Investors like to hear things like that, yes? ... So when it's not followed through, it is worth pursuing.

Your response doesn't address that. You might as well say "If they were up to no good, why didn't they just take all the funds and run?" ... It's more compicated than that.

Why would you fight this? If I got my way right now, and they put 13 million ICN into a new address, would that be a bad thing for you? Or for anyone?

Like I say, it's just about doing the things you said you'd do.

People are disappointed in things like this. Poor communication. Details not being fleshed out properly. Lack of transparency. None of it necessarily means they don't trust the team. But it is disappointing.

Don't you find it strange that I'm one of the few that is putting things like this into words, amid a sea of hype and moon talk? There's very few people on here capable of discussing things in this way. Same with the Slack.

Basically: I feel like there's a lot of leniency being given to this team, and that is a bad thing in business. Not enough people are holding the team to account. You see maybe one new person every 2 weeks or so, with genuine concerns. They get ignored, or called a troll, then back to the hype and everybody forgets about that person. This isn't a good thing.

You see, when you want you can post constructive criticism  Kiss
Valid points, all I can say is that it always comes down to trust. You invested during the ICO not because of dividends payments, but firstly because you had trust that the team and escrow won't run away with the funds.
The same trust applies now, that they are not doing those fishy things. That's why I stopped asking about the devs address at the time.

Transparency and communications are super important. I do believe they will be addressed soon.
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April 03, 2017, 01:17:04 PM
 #3124

" 1,000 ETH will be used to
purchase ICN in a 90 day
period starting from 1st of
April 2017."
Now you do the calculation how many ICN can be bought with 1000 ETH at current market price.
ICONOMI will buyback ICN on weekly basis over a period of 90 days

So, 1000 ETH per every week or per 90 days?

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April 03, 2017, 01:31:41 PM
 #3125

You see, when you want you can post constructive criticism  Kiss
Valid points, all I can say is that it always comes down to trust. You invested during the ICO not because of dividends payments, but firstly because you had trust that the team and escrow won't run away with the funds.
The same trust applies now, that they are not doing those fishy things. That's why I stopped asking about the devs address at the time.

Transparency and communications are super important. I do believe they will be addressed soon.

Thank you for acknowledging that it's constructive.

You're right, there's always some level of trust. But it's nice to change that over time, and have assurances. For me, my trust was highest in the beginning, and it just kept decreasing over time. I know others have went the other way, and are happy with how things have progressed, and that's fine.

I like to encourage thinking about things in more depth. I know not everybody is a total fool, but some are just riding the hype train on here.

Sorry for taking over the thread. Although hopefully it's a better read than moon talk  Roll Eyes
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April 03, 2017, 02:05:10 PM
 #3126

" 1,000 ETH will be used to
purchase ICN in a 90 day
period starting from 1st of
April 2017."
Now you do the calculation how many ICN can be bought with 1000 ETH at current market price.
ICONOMI will buyback ICN on weekly basis over a period of 90 days

So, 1000 ETH per every week or per 90 days?
1000ETH per 90days this time. Next 90 days might be a bigger volume. Always depends on profits made

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April 03, 2017, 02:48:15 PM
 #3127

" 1,000 ETH will be used to
purchase ICN in a 90 day
period starting from 1st of
April 2017."
Now you do the calculation how many ICN can be bought with 1000 ETH at current market price.
ICONOMI will buyback ICN on weekly basis over a period of 90 days

So, 1000 ETH per every week or per 90 days?
1000ETH per 90days this time. Next 90 days might be a bigger volume. Always depends on profits made

Just imagine. This is profit without the platform. Profits might just be 10 times further on the next batch
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April 03, 2017, 02:51:37 PM
 #3128

" 1,000 ETH will be used to
purchase ICN in a 90 day
period starting from 1st of
April 2017."
Now you do the calculation how many ICN can be bought with 1000 ETH at current market price.
ICONOMI will buyback ICN on weekly basis over a period of 90 days

So, 1000 ETH per every week or per 90 days?
1000ETH per 90days this time. Next 90 days might be a bigger volume. Always depends on profits made

Just imagine. This is profit without the platform. Profits might just be 10 times further on the next batch
And when will the platform be launched?
Just 1000ETH for 3 months. That's funny.
So they need 10 mln ICN to burn 20 years.
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April 03, 2017, 03:00:55 PM
 #3129

" 1,000 ETH will be used to
purchase ICN in a 90 day
period starting from 1st of
April 2017."
Now you do the calculation how many ICN can be bought with 1000 ETH at current market price.
ICONOMI will buyback ICN on weekly basis over a period of 90 days

So, 1000 ETH per every week or per 90 days?
1000ETH per 90days this time. Next 90 days might be a bigger volume. Always depends on profits made

Just imagine. This is profit without the platform. Profits might just be 10 times further on the next batch
And when will the platform be launched?
Just 1000ETH for 3 months. That's funny.
So they need 10 mln ICN to burn 20 years.

That "Just 1000ETH for 3 months" is only 30% of golem the team sold. If you calculate it right it is more than 3000ETH. But not all were sold

Iconomi do have 9+ % of byteballs, in circulation. Please see the current price and say wow

This was only investment in ICOs and there is still more money to inject and profits to make when the platform is on.

Where did you calculate 10million ICN for 20 years ? At actual price we get to burn around 100,000 Icn coins right now.
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April 03, 2017, 03:17:20 PM
 #3130

" 1,000 ETH will be used to
purchase ICN in a 90 day
period starting from 1st of
April 2017."
Now you do the calculation how many ICN can be bought with 1000 ETH at current market price.
ICONOMI will buyback ICN on weekly basis over a period of 90 days

So, 1000 ETH per every week or per 90 days?
1000ETH per 90days this time. Next 90 days might be a bigger volume. Always depends on profits made

Just imagine. This is profit without the platform. Profits might just be 10 times further on the next batch
And when will the platform be launched?
Just 1000ETH for 3 months. That's funny.
So they need 10 mln ICN to burn 20 years.

That "Just 1000ETH for 3 months" is only 30% of golem the team sold. If you calculate it right it is more than 3000ETH. But not all were sold

Iconomi do have 9+ % of byteballs, in circulation. Please see the current price and say wow

This was only investment in ICOs and there is still more money to inject and profits to make when the platform is on.

Where did you calculate 10million ICN for 20 years ? At actual price we get to burn around 100,000 Icn coins right now.

Yes, now 100k ICN, but this is for 3 months?
Why stretch test burning for as long as 3 months?
That is 100k * 3 * 4 = 1.2 mln per year with the current scenario.
That is 12 mln for 10 years?

I understand that this is just a test amount (1000ETH) and will continue to be more, but why I try to stretch this sample for 3 months, I do not understand.

Why not do this test burning for 1 month, check everything, and not run the platform?
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April 03, 2017, 03:18:39 PM
 #3131

" 1,000 ETH will be used to
purchase ICN in a 90 day
period starting from 1st of
April 2017."
Now you do the calculation how many ICN can be bought with 1000 ETH at current market price.
ICONOMI will buyback ICN on weekly basis over a period of 90 days

So, 1000 ETH per every week or per 90 days?

1000 ETH per Q2. So 1000 ETH per 3 months.
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April 03, 2017, 03:32:09 PM
 #3132

Keep buying or holding your icn guys... the sight to the moon is clear  Grin

Quick noob question guys.

What is the best and easiest way to buy some ICONOMI coins?

Get yourself onto kraken / liqui and load up on them cheap icn tokens..... and buckle up 😎

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April 03, 2017, 03:35:40 PM
 #3133

Any reason for price going down after buyback starting this 1st April?


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April 03, 2017, 03:51:06 PM
 #3134

Any reason for price going down after buyback starting this 1st April?

Bitcoin going up and people want to shift and cash out profits. We got to burn more coins!
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April 03, 2017, 05:45:21 PM
 #3135

Any reason for price going down after buyback starting this 1st April?

Correction after a big rise and some correlation with BTC price movements

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April 03, 2017, 07:02:59 PM
 #3136

I see this going as low as 420's, that'd be a great level to hop on board if you're not in yet. I keep stacking and buying every dip.
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April 03, 2017, 08:32:44 PM
 #3137

With ICNX's returns, I can easily see it having a $billion dollar market cap in 1-2 years. That would translate to $30,000,000 in buy backs every year from the ICNX maintenence fee alone. That is not counting the trading fee, performance fund profits, or DAMP fees.

Considering there is just under 19% of all ICN on exchanges, let's just say $30,000,000 in buy backs would make a dent.

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April 03, 2017, 10:15:06 PM
 #3138

Any reason for price going down after buyback starting this 1st April?

Correction after a big rise and some correlation with BTC price movements

Correction might be the right word. Remember that before going 64k last month, it did recover from 28+, and before that was 48+. Maybe on the macro level it is a strategy to shift focus and shake the apple tree.
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April 03, 2017, 11:16:34 PM
 #3139

Sorry for asking, I can't read 1400 pages and see if the question has been asked before (altough I did search):
- Is there a way to see a how much of the raised capital Iconomi has spent and how much is still left? Also I saw some annunciations about Iconomi already buying into a few startups, is that done by buying into the ICO's as well? If so, is there a way to see the actual balances that Iconomi holds?

The reason I ask is, even though Iconomi seems trustworthy, except reputation, what keeps Iconomi or any other clone ICO in the future from just doing an ICO, announcing buys/sells (thereby raising the token value) but not actually doing any buying or selling whatsoever?

Thanks for reading/replying.
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April 04, 2017, 12:10:22 AM
 #3140


just when you thought ICN is going to rise up, they really isn't going there. there is just no stopping the users from dumping no matter how valuable can it be in the near future. if it isn't happening yet and it isn't going up yet, the better to dump it than be left behind from the rise of other token.

 
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