Hypolite
Legendary
 Offline
Activity: 1245
Merit: 1027
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July 29, 2017, 10:26:16 AM |
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So Iconomi have more than 3k ETH to burn till next quarter. That is 3 times the previous quarter. Can we expect 300k ICN be burned  and a total of 600-800k till end of year That would be huge amount to burn.I am wondering where would the price of icn be when that happens? Not all 3000 ether are allocated to buy back and burn, 20% only. I quoted this from their report: In Q3 we are continuing with our repayment programme using revenues generated in Q2 which amounted to $196,996 or 668 ETH. This amount equals 20% of realised profit made by ICNP in Q2 and fees generated by the platform. But as their platform is only coming online in August, we can expect much bigger buybacks in the future? Yeah, of course buybacks will be higher next !!!! Very bigger !!!! |
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someonesomeone
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July 29, 2017, 11:04:16 AM |
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Exactly! When ICNX is a few months in and collects $50M - $100M those fees will be huge and that will mean that the buybacks will be huge! 2018 will see a few millions in buybacks in my opinion. ICNX, while still being in beta in Q2, collected $13,373 in fees  |
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muleroaa
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July 29, 2017, 11:55:36 AM |
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Exactly! When ICNX is a few months in and collects $50M - $100M those fees will be huge and that will mean that the buybacks will be huge! 2018 will see a few millions in buybacks in my opinion. ICNX, while still being in beta in Q2, collected $13,373 in fees Yeah, this is still very early days. Looking forward to the buyback potential in the years to come! |
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sud
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July 29, 2017, 12:09:17 PM |
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Exactly! When ICNX is a few months in and collects $50M - $100M those fees will be huge and that will mean that the buybacks will be huge! 2018 will see a few millions in buybacks in my opinion. ICNX, while still being in beta in Q2, collected $13,373 in fees Yeah, this is still very early days. Looking forward to the buyback potential in the years to come! Agree, the buybacks should raise along with the ICNX grow. |
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bgibso01
Legendary
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Activity: 1218
Merit: 1001
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July 29, 2017, 04:46:00 PM |
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So Iconomi have more than 3k ETH to burn till next quarter. That is 3 times the previous quarter. Can we expect 300k ICN be burned and a total of 600-800k till end of year thats really huge amount gets burned. what is current circulating supply? |
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Red_Sanford
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July 29, 2017, 06:58:17 PM |
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So Iconomi have more than 3k ETH to burn till next quarter. That is 3 times the previous quarter. Can we expect 300k ICN be burned and a total of 600-800k till end of year That would be huge amount to burn.I am wondering where would the price of icn be when that happens? Not all 3000 ether are allocated to buy back and burn, 20% only. I quoted this from their report: In Q3 we are continuing with our repayment programme using revenues generated in Q2 which amounted to $196,996 or 668 ETH. This amount equals 20% of realised profit made by ICNP in Q2 and fees generated by the platform. But as their platform is only coming online in August, we can expect much bigger buybacks in the future? Wasn't it scheduled to go public around August 1st ? Anxious to see how they publicize the launch. Haven't seen too much yet... |
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mcfom
Legendary
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Activity: 1260
Merit: 1001
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July 29, 2017, 07:10:52 PM |
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Iconomi is very solid project still potential to make profit I believe by end of current price will move to new ATH. I'm long term investor of this project so that I think HODL and win the race in long term this is good strategy for this project.
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X1235
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July 29, 2017, 09:28:41 PM |
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Wasn't it scheduled to go public around August 1st ? Anxious to see how they publicize the launch. Haven't seen too much yet...
Most of the teams in the crypto land are extremely incompetent or lazy (or both). Hopefully this team takes the project seriously. |
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lukikato
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July 30, 2017, 08:40:45 AM |
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https://etherscan.io/token/ICONOMITokenTracker Summary Total Supply: 100,000,000 ICONOMI ($300,976,000.00) Iconomi team said, '99,305 ICN tokens burned'. it means total supply is: 99,900,695 ICN When will team edit etherscan.io infos? This coin has been running for 6 months, should be surah change the data, I think |
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someonesomeone
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July 30, 2017, 12:46:30 PM |
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I don't know how much they invested as that amount will be deducted from the value, but I think that you are close with your number. But you have to understand that they have to actually sell their assets to realize profite before anything will get burned. So how do they calculate ICNP profit? Acc. to report Q1 value of ICNP = 9.9 Mil USD Q2 value = 44.6 Mil USD So the profit for Q3 ICNP is 44.6-9.9 = 34.7 Mil USD?? and eventually 20% of 34.7 Mil = 6.9 Mil USD will be burnt?  |
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Daparski
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July 30, 2017, 01:05:36 PM |
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So how do they calculate ICNP profit? Acc. to report Q1 value of ICNP = 9.9 Mil USD Q2 value = 44.6 Mil USD So the profit for Q3 ICNP is 44.6-9.9 = 34.7 Mil USD?? and eventually 20% of 34.7 Mil = 6.9 Mil USD will be burnt? No, ICNP has a 20% performance fees from realized profits. It means they first need to partially or completely close a position. Most of the gains are fro the price appreciation of ICNP assets - btc, ether, and lisk. A big chunk is the free byteballs as well. |
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Bitgenius777
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July 30, 2017, 01:40:59 PM |
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So when Platform of Iconomi will become online?
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WGXtreme
Member
Offline
Activity: 100
Merit: 10
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July 30, 2017, 02:08:03 PM |
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So when Platform of Iconomi will become online?
Until further notice 1st of august |
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AdobeWriter
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July 30, 2017, 03:34:42 PM |
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So when Platform of Iconomi will become online?
Until further notice 1st of august Yep, and ICONOMI are yet to miss on a deadline in the last few months, so not much to worry about. |
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HomoHenning
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July 30, 2017, 03:46:10 PM |
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So when Platform of Iconomi will become online?
Until further notice 1st of august  sure |
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WGXtreme
Member
Offline
Activity: 100
Merit: 10
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July 30, 2017, 04:35:18 PM |
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So when Platform of Iconomi will become online?
Until further notice 1st of august sure Well, we´re going to find out really soon, no ? |
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X1235
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July 30, 2017, 07:10:56 PM |
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So when Platform of Iconomi will become online?
Until further notice 1st of august sure Well, we´re going to find out really soon, no ? Not really. The team has found a truck full of vodka near the office and is currently working on it. This is called context switch. |
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Motivator
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July 30, 2017, 09:11:49 PM |
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So is ICN a utility token or a security?
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Hypolite
Legendary
Offline
Activity: 1245
Merit: 1027
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July 30, 2017, 09:44:17 PM |
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So is ICN a utility token or a security?
Lol seek and find it !!!#! |
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yayat
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July 31, 2017, 02:34:22 AM |
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So when Platform of Iconomi will become online?
Until further notice 1st of august sure What platform do you mean? Android or PC? Can you guys tell me about that information? thank you |
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