ICONOMI - Live for today. Invest for tomorrow.

[Daparski]

What happens if thousands of people want to sell their ICNX and take their profits.

Where will that liquidity come from?

Can someone explain to me how it works please.

Thankyou

When you buy/sell ICNX the platform buys/sells the underlying tokens from exchanges. Everything else is a back-end logic, statistics, and monitoring. This is one of the reasons the beta stage is more than few weeks long

For now there is a 1.5 BTC daily limit.

If someone just sell worth 1.5 btc every day, would he be flagged result to freeze his account? 1.5 btc limit isn't a s liquid as it is. Unlike having it as ICN where you can pick a buy order as one single transaction to get out.

Why would that account be frozen?
ICN is traded on exchanges, and ICNX is bought/sold on the platform at the current market price of the underlying assets.
There are no book orders on Iconomi platform, so you cannot set a buy/sell order at certain price.

[fennyllywof-7700]

What happens if thousands of people want to sell their ICNX and take their profits.

Where will that liquidity come from?

Can someone explain to me how it works please.

Thankyou

When you buy/sell ICNX the platform buys/sells the underlying tokens from exchanges. Everything else is a back-end logic, statistics, and monitoring. This is one of the reasons the beta stage is more than few weeks long

For now there is a 1.5 BTC daily limit.

so it means that the platform must have a load of money to be able to cope with what would be arguably very high demand.

Will 30-40 Million USD or whatever they have now even cut it?

Not exactly. If you want to buy ICNX, you first need to deposit BTC or ETH. ICNX is like one of the services that the platform offers, not something you buy with the platform's money

nope.

am talking about the situation where you could potentially have thousands upon thousands of people wanting to cash out their ICNX profits.

Say you buy ICNX @ 0.2 USD and then it reaches $0.5 and you have hordes of BTC hungry customers who want to sell their ICNX to take their $0.3 profits.

Will the platform have enough liquidity to support this hypothetical situation?

Am asking because it seems that ICNX been making mad gains and as such one can expect it to be extremely popular.

Will the platform have enough liquidity to support this hypothetical situation?

Will the exchanges provide enough liquidity is the correct question. What happens if thousand of people decide to sell their ETH in the same day?
I believe the limits are not yet finalized. You need to have more statistics in order to build a better algorithm.
Also, if you have a daily limit of 1.5 BTC, not everybody will enter at the same price. So assuming you have a target investment in ICNX of 20 BTC, you will close your buy order over a bit more than a week. Same goes when you want to sell.

ok.

thanks for confirming my train of thought.

it will take some time before this is ready.

algorithms cannot be developed overnight.

let's hope they have some genius on the case.

[NoiseBoy]

Hello I´ve a question and sorry for my english.
I am new to Crypto. Iconomi  was my first Investement.
Last week I met with a friend in Suisse. He is a security expert in security for fiat exchanges trading banking and so on and he is well known in this network.

Surprisingly he was aware of iconomi while we were speaking about crypto currencies (he didn´t know that I am invested, than I told him and he explained)
Generally  I didn´t like what I hear: summarized what he told me is that the idea sounds ambitious <(his word) but the technical barriere especially the

underlying risk for the platform (especially index and ofm) is so complicated and unpredictable that it needs minimum one or two more years for developement and tests, only to think for a launch of such a platform.

another theme is Dependencys with exchanges, contracts, liabilitys, jurisdiction and so on needs months and years.

Than he explains very technically what I didn´t understand completly, but additionally infrastructure, like hardware, archivs,(i.e. 10years for each trade in realworld, he wasn´t shure about crypto) redundant higspeed requirments and so on are needed where this 10mill sound not so much, especially for index and the OFM.

So while I understand better the delay in December, it would be necessary to have a answer from the Iconomi Responsible.
Maybe they could do this summarized in a mail to the investors also.
thank you.

I'll reply to your "friend's" objections in order.

1) Underlying risk for the platform is complicated: That's what blockchain technology is for.
2) Dependencies: That's what blockchain technology is for.
3) Infrastructure: That's what blockchain technology is for.
4) 10 year archives: That's what blockchain technology is for. Seriously, 10 years? Blockchain is forever.

[FUTURECRYPTO]

10% down when everything else is green.

Where are the fuckers?

The lack of communication from the team is only going to hurt the price and this project. 10% down seriously ? when everything is going up.
No. 25 on coinmarket cap. Even Lisk is above us now.

[Piston Honda]

this train is going backwards

LULZ

fuck

[ruletheworld]

 But you know better than them how long this should be taking? Or do you want them to release and hype an unfinished product? If you're such an expert why don't you do it yourself?

For an investment of $10,000,000? That probably is closer to $30,000,000 now since they haven't spent any of that in investing?
It should take them a month tops.

I'd do it myself if I could, for $10,000,000,hell, I'd have this token sitting at top five right now.
We got to teach the team the American way of making it.

What's stopping you from duplicating the project, if you can do it much better than ICONOMI? It's all open source and ideas cannot be patented. Be our guest, and run your own token.

[Mendeleev]

 But you know better than them how long this should be taking? Or do you want them to release and hype an unfinished product? If you're such an expert why don't you do it yourself?

For an investment of $10,000,000? That probably is closer to $30,000,000 now since they haven't spent any of that in investing?
It should take them a month tops.

I'd do it myself if I could, for $10,000,000,hell, I'd have this token sitting at top five right now.
We got to teach the team the American way of making it.

What's stopping you from duplicating the project, if you can do it much better than ICONOMI? It's all open source and ideas cannot be patented. Be our guest, and run your own token.

Iconomi isn't open source, and he doesn't have the 10 million dollars he requires 

I couldn't do it better, to be fair. I'm a lazy bastard.

[XbladeX]

***
What's stopping you from duplicating the project, if you can do it much better than ICONOMI? It's all open source and ideas cannot be patented. Be our guest, and run your own token.

Melon started party and TaaS will start party soon so copies to compare we will have and how they progress.
From ICONOMI ream there is weak communication for sure with investors then project and ICNX...
I am missing party comeon...

http://coinmarketcap.com/charts/#btc-percentage

altocin bull wont last forever ICNX will be profitable in next 2-3 months max then it will come bear market here and then good luck at making any money with altcoins . Prices will be corected like SDC :
http://coinmarketcap.com/currencies/shadowcash/
King of 5$ month ago now 0.39$... same fate will be with ICNX.
Delaying platform in best bull run from 4 years is wasting so much potential.
Only custom arrays will may work because ICNX will be pice of shit.
Prices are falling much longer than rising.

[Hypolite]

Stop stressing guys, everything comes to a point who knows how to wait.
The access to the beta confirms me in my idea.
Given the size of the project and the work they do the lack of communication does not pose any problem.

[Mendeleev]

altocin bull wont last forever ICNX will be profitable in next 2-3 months max then it will come bear market here and then good luck at making any money with altcoins . Prices will be corected like SDC :
http://coinmarketcap.com/currencies/shadowcash/
King of 5$ month ago now 0.39$... same fate will be with ICNX.

SDC took a hit because Poloniex are delisting it. It wouldn't have dropped otherwise.

[petricag]

altocin bull wont last forever ICNX will be profitable in next 2-3 months max then it will come bear market here and then good luck at making any money with altcoins . Prices will be corected like SDC :
http://coinmarketcap.com/currencies/shadowcash/
King of 5$ month ago now 0.39$... same fate will be with ICNX.

SDC took a hit because Poloniex are delisting it. It wouldn't have dropped otherwise.

SDC took a hit because everyone was expecting the project to go to next level while those scammers came with the brilliant idea to make anew ICO and have a new coin basically (with a lot of bull shit explanation to cover the shit into some smart thing). Of course people just dump the shit out of it. Poloniex is delisting it because is practically a scam, makes no sens to keep it on.
Just think if Iconomi team would come up with the idea to start a new ICO to build a new platform and issue for this a new token ... of course ICN would be dump like shit ... no one would really believe the team to give them more money.

[JDS1000]

 But you know better than them how long this should be taking? Or do you want them to release and hype an unfinished product? If you're such an expert why don't you do it yourself?

For an investment of $10,000,000? That probably is closer to $30,000,000 now since they haven't spent any of that in investing?
It should take them a month tops.

I'd do it myself if I could, for $10,000,000,hell, I'd have this token sitting at top five right now.
We got to teach the team the American way of making it.

What's stopping you from duplicating the project, if you can do it much better than ICONOMI? It's all open source and ideas cannot be patented. Be our guest, and run your own token.

Very naive response.  Iconomi team should maintain some level of accountability to this thread and the crypto community at large.  I wish Daparski was either on payroll or a little bit more neutral but he certainly adds value here.  And so do the people bitching - they're right and they're funny...  because this coin is down because the communication is the worst I've seen from a top 100 coin.

Disappearing Devs is the biggest red flag for crypto investments.

[Mendeleev]

altocin bull wont last forever ICNX will be profitable in next 2-3 months max then it will come bear market here and then good luck at making any money with altcoins . Prices will be corected like SDC :
http://coinmarketcap.com/currencies/shadowcash/
King of 5$ month ago now 0.39$... same fate will be with ICNX.

SDC took a hit because Poloniex are delisting it. It wouldn't have dropped otherwise.

SDC took a hit because everyone was expecting the project to go to next level while those scammers came with the brilliant idea to make anew ICO and have a new coin basically (with a lot of bull shit explanation to cover the shit into some smart thing). Of course people just dump the shit out of it. Poloniex is delisting it because is practically a scam, makes no sens to keep it on.
Just think if Iconomi team would come up with the idea to start a new ICO to build a new platform and issue for this a new token ... of course ICN would be dump like shit ... no one would really believe the team to give them more money.

Yeah, that too. But was it not the delisting news that caused the big dip? It seemed to be crawling slowly downwards beforehand.

I was imagining the fanboys still valued it for swapping to the new thing. Not kept up with it since that was announced.

Edit: Ah the swap happened already. I wasn't aware of that. In that case, you're right.

Still not a "correction" though, so a bad example to use for altcoin bubble bursting.

[DomainMagnate]

O onvested in ICO and price is still above ICO so why should I worry?I will keep hodling for 1 year

[Ergenekon]

altocin bull wont last forever ICNX will be profitable in next 2-3 months max then it will come bear market here and then good luck at making any money with altcoins . Prices will be corected like SDC :
http://coinmarketcap.com/currencies/shadowcash/
King of 5$ month ago now 0.39$... same fate will be with ICNX.

SDC took a hit because Poloniex are delisting it. It wouldn't have dropped otherwise.

i think poloniex preparing to add iconomi on markets. We can see icn on polo about in a month. SDC is a shit coin and it swaped with particl

[zxdcv]

Can anyone else log into their ICN ICO page account?

[Raizou]

i think poloniex preparing to add iconomi on markets. We can see icn on polo about in a month. SDC is a shit coin and it swaped with particl

Why do you think that? Has the US problem been solved? Not all Poloniex projects will be adding, but it does not cost anything to pray, ICN can be great!!

[Hunterwolfie]

Now that dividends are no longer an obstacle to being listed either on Poloniex or Bittrex, the ICONOMI team should at the very least make an effort to get listed on Bittrex.

We know that Jani met with Bittrex Bill and that they did discuss about things.

If I remember correctly, Bittrex Bill did say that Jani was not intrested on getting ICN listed on Bittrex at the time but that they would be working on things in the future.

@Jani- Come on man, get something sorted now.

https://bittrex.com/Market/Index?MarketName=BTC-TRST

^^

Their ICO is barely over and they already are listed.

It's discouraging right now and slightly annoying because when they needed to raise all those millions, the ICONOMI team was in constant communication with would be investors.

Now that they have our money, they just vanish.

Not cool.

[brinneminer]

anyone know an estimated date for the platform release? invested alot in iconomi, and cant wait to the release...

[stormia]

Now that dividends are no longer an obstacle to being listed either on Poloniex or Bittrex, the ICONOMI team should at the very least make an effort to get listed on Bittrex.

We know that Jani met with Bittrex Bill and that they did discuss about things.

If I remember correctly, Bittrex Bill did say that Jani was not intrested on getting ICN listed on Bittrex at the time but that they would be working on things in the future.

@Jani- Come on man, get something sorted now.

https://bittrex.com/Market/Index?MarketName=BTC-TRST

^^

Their ICO is barely over and they already are listed.

It's discouraging right now and slightly annoying because when they needed to raise all those millions, the ICONOMI team was in constant communication with would be investors.

Now that they have our money, they just vanish.

Not cool.

Yeah it is kind of discouraging but if you think of it from a business model standpoint it makes sense. At that time they needed to raise revenue from investors, that was their primary job at the time, so of course they focused on that. Now that they have the money it is time to do something with it, so it kind of makes sense that they would be focusing on development now. Still, it would be nice if somebody maintained consistent community relations.

But also people want them to communicate but what if all they can say right now is nothing is ready yet, that nothing new has happened? Do we need to them to communicate even when there aren't new developments to communicate to us? If all they can say is "soon", I don't really see the point in saying it at all. It's like when you are a kid and you are driving in the car with your parents and you ask "are we there yet"? We aren't there yet, and I'm confident they will let us know when we are. They've been pretty good at telling us when something has happened or is happening, so I take their silence to simply mean there isn't much to update us with yet.

It bugs me though that when asked on reddit when the Q1 report would be out 1-2 weeks ago Jani said "in days" (or something along those lines) and it still isn't out... But this is a perfect example of why it might be better if they avoid "soon"-type statements and just say and release things when they are actually ready.