ICONOMI - Live for today. Invest for tomorrow.

[ulhaq]

What are we seeing reported on coinmarketcap? ICONOMI is listed as:

$32,194,785    $0.370055    87,000,000 ICN *    $158,317    9.34%

I thought this was an index of a number of other cryptocurrencies, but none of the other cryptocurrencies are up 9.34% in the last 24 hours. Are ICNs something different?

[Enjorlas]

What are we seeing reported on coinmarketcap? ICONOMI is listed as:

$32,194,785    $0.370055    87,000,000 ICN *    $158,317    9.34%

I thought this was an index of a number of other cryptocurrencies, but none of the other cryptocurrencies are up 9.34% in the last 24 hours. Are ICNs something different?

Yes. The ICN token is a representation of ownership over the profits of Iconomi. One of the way profits will be made is through the ICNX (Iconomi index) token which is what you are referring to. It is a basket of 12 or so well known crypto currencies. The ICNX token has not yet been made available. So the price of the ICN token today is just speculation on future profits.

[kalpit]

I have some questions on how does ICNX work.

Would cryptocurrencies be bought each time a new ICNX is created?

For example, if composition of ICNX is 50% BTC and 50% ETH (just assumption)
If I buy $1 worth of ICNX, would .5$ of both btc and eth be bought by Index fund immediately?

Wouldn't it mean lots of wastage in fees?
Real ICNX has 12 cryptocurrencies. For each purchase of each cryptocurrency they have to pay gas and fees of exchange.

[Daparski]

This is just ridiculous. Now that he's been exposed as a multi accounting paid FUDder he just resumes copy-pasting his own crap posts that have been debunked over and over again.

Can't wait for moderators to come and clean all this mess up and possibly remove at least this account of his from the thread.

There is no option to remove or block someone from posting. Cryptoinsider daily garbage posts are removed.
Best thing to do is to hit ignore and move on. Responding to the FUD posts, or quoting them just motivates them more.

[Daparski]

I have some questions on how does ICNX work.

Would cryptocurrencies be bought each time a new ICNX is created?

For example, if composition of ICNX is 50% BTC and 50% ETH (just assumption)
If I buy $1 worth of ICNX, would .5$ of both btc and eth be bought by Index fund immediately?

Wouldn't it mean lots of wastage in fees?
Real ICNX has 12 cryptocurrencies. For each purchase of each cryptocurrency they have to pay gas and fees of exchange.

Yes, when you buy ICNX from Iconomi platform, buy orders are executed on your behalf and the ICNX tokens are created. I'm sure they have a way better fees plan than the average trader. In addition, there is a 0.1% entry/exit fee, so basically it will cover all fees paid by Iconomi.

Keep in mind that people will also buy ICNX from exchanges, and in that case no fees will be paid by Iconomi.

[Hypolite]

Hello everyone,

I'm starting to get tired of these fudsters.
So I will, once and for all, explain what it is.
I exchanged with the suppot Kraken, for their part there is no question of deleting or delister ICN from their platform. I had their reply by email.
I posted the -> https://www.reddit.com/r/ICONOMI/comments/5tz52m/fuders_and_fuds/

In addition, do you sincerely believe that a platform such as Kraken does not possess a good quantity of lawyers and highly qualified advisers? And who would let the platform list a scam?

Anything, so the Fudsters, bar you and go rather sick here
http://www.jeuxvideo.com/forums/1-68-176230-1-0-1-0-l-expression-t-es-un-branleur.htm

All the best

[rgornik]

People, stop replying FUD posts, they will be automatically deleted. Why bother with wind, just put on some wind protectors and it will go away 

[thepo1m]

I have some questions on how does ICNX work.

Would cryptocurrencies be bought each time a new ICNX is created?

For example, if composition of ICNX is 50% BTC and 50% ETH (just assumption)
If I buy $1 worth of ICNX, would .5$ of both btc and eth be bought by Index fund immediately?

Wouldn't it mean lots of wastage in fees?
Real ICNX has 12 cryptocurrencies. For each purchase of each cryptocurrency they have to pay gas and fees of exchange.

Yes, when you buy ICNX from Iconomi platform, buy orders are executed on your behalf and the ICNX tokens are created. I'm sure they have a way better fees plan than the average trader. In addition, there is a 0.1% entry/exit fee, so basically it will cover all fees paid by Iconomi.

Keep in mind that people will also buy ICNX from exchanges, and in that case no fees will be paid by Iconomi.

I think Daparski tried its best to explain the question but I don't think I'm satisfied with your answered. The ICONOMI team can do better judgement to the question

[Alonzo Ewing]

eagerly waiting for the platform to launch..only 6 days left in feb

[XbladeX]

Looks like some pump is coming FUDsters have been awaken.
Sadly for them few weeks and ICN is still above ICO so whole work for nothing.

[mammusu]

eagerly waiting for the platform to launch..only 6 days left in feb

not launch yet ends of february, but the platform testers will be available in ends of feb
if I am not wrong for that.

[shinratensei_]

eagerly waiting for the platform to launch..only 6 days left in feb

not launch yet ends of february, but the platform testers will be available in ends of feb
if I am not wrong for that.

My guess the platform will be launch at the end of the Q1 = March. You're true at the end of this month for the tester. Just wait the further announcement from the dev.

[ri80va]

eagerly waiting for the platform to launch..only 6 days left in feb

not launch yet ends of february, but the platform testers will be available in ends of feb
if I am not wrong for that.

exact

no need of hyping the platform because only few testers will have acces

"Time to market
The design choices outlined above leads to two very different time frames from a development point of view. The more traditionally developed ICONOMI platform will make its first limited public release in about a month, and then gradually add on additional features over the coming months until the full platform is ready."

[disconnectme]

Looks like some pump is coming FUDsters have been awaken.
Sadly for them few weeks and ICN is still above ICO so whole work for nothing.

I don't rely think is FUDsters having their day, there some factors to consider here, some people taking profit to move into new ICOs coupled with the recent Bitcoin price rally

[BENBTC]

eagerly waiting for the platform to launch..only 6 days left in feb

not launch yet ends of february, but the platform testers will be available in ends of feb
if I am not wrong for that.

yes you are correct.

[Daparski]

I have some questions on how does ICNX work.

Would cryptocurrencies be bought each time a new ICNX is created?

For example, if composition of ICNX is 50% BTC and 50% ETH (just assumption)
If I buy $1 worth of ICNX, would .5$ of both btc and eth be bought by Index fund immediately?

Wouldn't it mean lots of wastage in fees?
Real ICNX has 12 cryptocurrencies. For each purchase of each cryptocurrency they have to pay gas and fees of exchange.

Yes, when you buy ICNX from Iconomi platform, buy orders are executed on your behalf and the ICNX tokens are created. I'm sure they have a way better fees plan than the average trader. In addition, there is a 0.1% entry/exit fee, so basically it will cover all fees paid by Iconomi.

Keep in mind that people will also buy ICNX from exchanges, and in that case no fees will be paid by Iconomi.

I think Daparski tried its best to explain the question but I don't think I'm satisfied with your answered. The ICONOMI team can do better judgement to the question

Why you are not satisfied? Can you explain what is missing?
 

If you want faster Iconomi responds, better post on reddit

[Bitpreneur1976]

I have some questions on how does ICNX work.

Would cryptocurrencies be bought each time a new ICNX is created?

For example, if composition of ICNX is 50% BTC and 50% ETH (just assumption)
If I buy $1 worth of ICNX, would .5$ of both btc and eth be bought by Index fund immediately?

Wouldn't it mean lots of wastage in fees?
Real ICNX has 12 cryptocurrencies. For each purchase of each cryptocurrency they have to pay gas and fees of exchange.

Yes, when you buy ICNX from Iconomi platform, buy orders are executed on your behalf and the ICNX tokens are created. I'm sure they have a way better fees plan than the average trader. In addition, there is a 0.1% entry/exit fee, so basically it will cover all fees paid by Iconomi.

Keep in mind that people will also buy ICNX from exchanges, and in that case no fees will be paid by Iconomi.

I think Daparski tried its best to explain the question but I don't think I'm satisfied with your answered. The ICONOMI team can do better judgement to the question

Understandable, because atm there isn't a clear statement how this will work out just assumptions. Keep in mind we are still in an early phase of a new project and there is no historical data to rely on. Devs first need to figure out how certain things will work out and find then the best way to do so. Just have patience and I'm sure as soon as the platform is launched in about four weeks we will have a final answer.

[Akbarkoe]

People, stop replying FUD posts, they will be automatically deleted. Why bother with wind, just put on some wind protectors and it will go away 

I agree with you. but fud posts will be deleted by moderated this thread
you can see this is a self moderated. So dont worry about that.

[BitBanksy]

Sigh.  You are starting to convince me that ICONOMI may have some issues they may need to address.

What the hell is wrong with you Mal?

[MalReynolds]

Sigh.  You are starting to convince me that ICONOMI may have some issues they may need to address.

What the hell is wrong with you Mal?

I have an open mind, or at least I try to have an open mind. 

And nobody has answered my question yet to identify the country where ICONOMI Inc. is incorporated, and whether or not they have an EU license to accept fiat money in payment for cryptocurrency products, like Cashila does.  In the whitepaper, Cashila was going to be the first service operator for the ICONOMI software platform.  Now it is not, ICONOMI Inc. will be first service operator.  So I would like to know more details about ICONOMI Inc.