ICONOMI - Live for today. Invest for tomorrow.

[BOVO]

" 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?

[Mendeleev]

You see, when you want you can post constructive criticism  
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 

[cerejobastos]

" 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

[xtyling]

" 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

[ShineKami]

" 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.

[xtyling]

" 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.

[ShineKami]

" 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?

[Digital_Currency_LTD]

" 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.

[786sam]

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

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 😎

[Alonzo Ewing]

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

[xtyling]

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!

[MoveCrypto]

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

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

[ICOIN897]

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.

[Enjorlas]

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.

[xcajun21]

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.

[4theppl]

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.

[electronicash]

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.

[Mendeleev]

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.

BTC: http://btc.blockr.io/address/info/3KbWWjumBGLBUWYCeidydxe1uET9QyWoEg
ETH: https://etherscan.io/address/0x154Af3E01eC56Bc55fD585622E33E3dfb8a248d8
LSK: https://explorer.lisk.io/address/6300322192409448238L

No way to track the fiat reserves, as far as I know.

Yes, they buy into ICOs and announce these after the ICO ends.

I don't fully understand the last question, but in theory there is nothing stopping anyone from doing various tricks/scams/manipulations. But there's a lot of people who can spot things like that, and will call it out. So maintaining a good reputation is the main thing that will stop that sort of behaviour, as well as the fact people can monitor the blockchains. There are some clever ways to trick people, but it's still taking a risk that you might be found out one day.

As Daparski stated earlier, any ICO investment ultimately requires trust. The announcement board on this forum is full of scams, where people just take your money and vanish.

[estenity]

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.

BTC: http://btc.blockr.io/address/info/3KbWWjumBGLBUWYCeidydxe1uET9QyWoEg
ETH: https://etherscan.io/address/0x154Af3E01eC56Bc55fD585622E33E3dfb8a248d8
LSK: https://explorer.lisk.io/address/6300322192409448238L

No way to track the fiat reserves, as far as I know.

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...

[Mendeleev]

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