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sud
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April 26, 2018, 06:23:20 AM |
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Are you seriously suggesting that $75 million+ of funds supposed to be held indirectly by ICN holders doesn't matter to the price of ICN, and 'we' haven't lose anything? Irrespective of whether you think the hard fork is a good or bad idea, surely you can agree that ICN holders collectively lost something.
Edit: at the time of the incident the 600k ETH was worth something like 30 mil and now it's worth 70 mil (rough numbers)
that's 40 mil difference and if you extract 20% (performance fee) you would see that we would have seen 8 milion $ used for burning. Now it's that nothing? again not to mention future proffits
OK, you are right guys, we have lost potential profit on ICN. It is just hard for me to belive that even if Iconomi would get those funds back, the price of ICN would be higher. I don't understand the silence of the Iconomi team on this issue. You're talking about scores of millions of dollars here, not a trivial amount. For example, they could commit to using those funds to buyback and burn ICNs, which could actually make a difference this time given the large amount of money for the buyback and burn. I think they (together with Polkadot and Parity team) are still working on solution to get those funds back, even if the hard fork won't happen. It would be amazing to see $70M worth of buybacks, but it is half the current marketcap on ICN, so it's pretty much unreal. |
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someonesomeone
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April 26, 2018, 10:30:27 AM |
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They would never use the full $70M. But this money could be invested and then 20% of the profits would be used for burning which could still be a lot of money. And honestly, I think that a solution will be found sooner or later. The Polkadot guys lost ALL of their ICO money and no way that will stand. One of the Polkadot guys is even an Ethereum cofounder so they will find a way, I am sure of it. Are you seriously suggesting that $75 million+ of funds supposed to be held indirectly by ICN holders doesn't matter to the price of ICN, and 'we' haven't lose anything? Irrespective of whether you think the hard fork is a good or bad idea, surely you can agree that ICN holders collectively lost something.
Edit: at the time of the incident the 600k ETH was worth something like 30 mil and now it's worth 70 mil (rough numbers)
that's 40 mil difference and if you extract 20% (performance fee) you would see that we would have seen 8 milion $ used for burning. Now it's that nothing? again not to mention future proffits
OK, you are right guys, we have lost potential profit on ICN. It is just hard for me to belive that even if Iconomi would get those funds back, the price of ICN would be higher. I don't understand the silence of the Iconomi team on this issue. You're talking about scores of millions of dollars here, not a trivial amount. For example, they could commit to using those funds to buyback and burn ICNs, which could actually make a difference this time given the large amount of money for the buyback and burn. I think they (together with Polkadot and Parity team) are still working on solution to get those funds back, even if the hard fork won't happen. It would be amazing to see $70M worth of buybacks, but it is half the current marketcap on ICN, so it's pretty much unreal. |
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ruletheworld
Legendary
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Activity: 1386
Merit: 1045
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April 26, 2018, 04:49:17 PM |
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Are you seriously suggesting that $75 million+ of funds supposed to be held indirectly by ICN holders doesn't matter to the price of ICN, and 'we' haven't lose anything? Irrespective of whether you think the hard fork is a good or bad idea, surely you can agree that ICN holders collectively lost something.
Edit: at the time of the incident the 600k ETH was worth something like 30 mil and now it's worth 70 mil (rough numbers)
that's 40 mil difference and if you extract 20% (performance fee) you would see that we would have seen 8 milion $ used for burning. Now it's that nothing? again not to mention future proffits
OK, you are right guys, we have lost potential profit on ICN. It is just hard for me to belive that even if Iconomi would get those funds back, the price of ICN would be higher. I don't understand the silence of the Iconomi team on this issue. You're talking about scores of millions of dollars here, not a trivial amount. For example, they could commit to using those funds to buyback and burn ICNs, which could actually make a difference this time given the large amount of money for the buyback and burn. I think they (together with Polkadot and Parity team) are still working on solution to get those funds back, even if the hard fork won't happen. It would be amazing to see $70M worth of buybacks, but it is half the current marketcap on ICN, so it's pretty much unreal. Yes, but it doesn't seem like the EIP999 would pass. The community is opposed to it. You cannot sit and scheme in the back rooms and then provide the "solution" to the community. There's a reason other projects, including Parity, have been out there in the public talking about this and trying to persuade the community. I don't see that from the Iconomi team, which is one of the projects affected by this. |
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Gutenhans
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Call me Mr. Hans
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April 26, 2018, 05:06:49 PM |
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i think they should stay impartial in public announcements and on the other side push more aggressively for a solution. They can still take matters in their own hands and fork, together with Polka and rest of the "parity" gang. They are not empty handed in this negotiation.
Anyway we burned more than half a mil tokens and that's nice to see. I find the report good, nice that they are on top of things with regulators, audits and legal stuff as i expect some new laws regarding crypto very soon.
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ruletheworld
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April 26, 2018, 05:14:39 PM |
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i think they should stay impartial in public announcements and on the other side push more aggressively for a solution. They can still take matters in their own hands and fork, together with Polka and rest of the "parity" gang. They are not empty handed in this negotiation.
Anyway we burned more than half a mil tokens and that's nice to see. I find the report good, nice that they are on top of things with regulators, audits and legal stuff as i expect some new laws regarding crypto very soon.
No body will follow a fork without community consensus. "They" can take matters into their hands and fork into a worthless network but that's not the goal, is it? |
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someonesomeone
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April 26, 2018, 05:30:20 PM |
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Nice, more then 570k burned tokens. I expected 500k+ so this is pretty good in my opinion. And I am also liking the fact that they are increasing their position in ICN, when it explodes there will be nice buyback profits from their ICN sales  |
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Topknotbam
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Merit: 1014
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April 26, 2018, 11:35:11 PM |
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Develop Custom Decentralized Blockchain Applications in JavaScript with LISK!
Website | Blog | BTT Thread | Chat - Be part of the decentralized application movement!
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110910ktx
Member
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Activity: 182
Merit: 10
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April 27, 2018, 05:32:29 PM |
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ICONOMI Weekly UpdateWelcome to the last Weekly Update of April. Over the past week, we released our Q1 2018 Financial Report, hosted our fourth successful Meet the Managers event in Amsterdam and published a follow-up, and more. Read more: https://medium.com/iconominet/iconomi-weekly-update-ca73a73b1580
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someonesomeone
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April 28, 2018, 08:24:35 AM |
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This is stated in the weekly update:
Airdopped OmiseGo tokens were sold for ETH, of which some will be added to Pinta and some will be used for buybacks. Details will be disclosed in the Q2 Financial Report.
Has anyone seen this in the Q2 report?
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therhslv
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April 28, 2018, 10:43:16 AM |
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This is stated in the weekly update:
Airdopped OmiseGo tokens were sold for ETH, of which some will be added to Pinta and some will be used for buybacks. Details will be disclosed in the Q2 Financial Report.
Has anyone seen this in the Q2 report?
Q2 means Quarter 2 ( April , May , June ) So i think they will disclose details about that after June or start of july I think they always did financial reports after each Quarter if i remember right . Its nice to see how they manage to spend money Every other project should take a lesson from Iconomi |
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Awallon
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April 28, 2018, 10:47:18 AM |
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ICONOMI is a one of the few crypto projects with a working platform and scaling nicely. Both in users and assets.
Filled my ICN bag, but yeah, it's a long-term hold.
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dishku
Legendary
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Activity: 1918
Merit: 1003
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April 28, 2018, 10:59:02 AM |
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This is stated in the weekly update:
Airdopped OmiseGo tokens were sold for ETH, of which some will be added to Pinta and some will be used for buybacks. Details will be disclosed in the Q2 Financial Report.
Has anyone seen this in the Q2 report?
Q2 means Quarter 2 ( April , May , June ) So i think they will disclose details about that after June or start of july I think they always did financial reports after each Quarter if i remember right . Its nice to see how they manage to spend money Every other project should take a lesson from Iconomi Agreed with you by the end of Q2 they will publish this report and will show us all detailed with action they took and where they spend this money. There is still enough time to get access to this report so have patience I feel dev is working hard. |
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someonesomeone
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April 28, 2018, 03:04:45 PM |
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You are correct, my bad... Well cool, that means that there will be more for buybacks then just platform revenue even if they don't sell any other ICO purchases, awesome! Does anyone know how much OMG was airdropped per held ETH? This is stated in the weekly update:
Airdopped OmiseGo tokens were sold for ETH, of which some will be added to Pinta and some will be used for buybacks. Details will be disclosed in the Q2 Financial Report.
Has anyone seen this in the Q2 report?
Q2 means Quarter 2 ( April , May , June ) So i think they will disclose details about that after June or start of july I think they always did financial reports after each Quarter if i remember right . Its nice to see how they manage to spend money Every other project should take a lesson from Iconomi |
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estenity
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April 29, 2018, 12:27:56 AM
Last edit: April 29, 2018, 08:14:45 AM by estenity |
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ICN presently at 0.00016583 BTC
was 22,000 sat at ICO, then evidently ICN is now under its BTC ico price
better invest in BTC !!
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ruletheworld
Legendary
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Activity: 1386
Merit: 1045
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April 30, 2018, 09:05:41 PM |
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ICN presently at 0.00016583 BTC
was 22,000 sat at ICO, then evidently ICN is now under its BTC ico price
better invest in BTC !!
Most tokens have underperformed BTC over a certain time period at least. However, your investment decisions need to be forward looking, not backward looking. |
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Cangkeman Wae
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Activity: 826
Merit: 10
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May 01, 2018, 11:50:28 AM |
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I still remember that ICONOMI was the second token I joined ICO after TIME and I just hope that the price soon skyrocketed because it's been more than a year ICN project and it's time for the team to prove it
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Bitcoin Crown Official
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Activity: 14
Merit: 0
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May 03, 2018, 07:07:59 AM |
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It seems interesting and promising.
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someonesomeone
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May 07, 2018, 07:27:05 AM |
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Alright to answer my own question, the ratio for OMG per ETH was supposedly: 0.0747 So Pinta currently has 55,554 ETH (I don't know if they have any other ETH and I will ignore the ETH locked in the parity wallet). So for those they got a bit over 4140 OMG which is $67k+. Not a huge amount but still something. What happens for example to aidrops that are gained for assets in DAAs? You are correct, my bad... Well cool, that means that there will be more for buybacks then just platform revenue even if they don't sell any other ICO purchases, awesome! Does anyone know how much OMG was airdropped per held ETH? This is stated in the weekly update:
Airdopped OmiseGo tokens were sold for ETH, of which some will be added to Pinta and some will be used for buybacks. Details will be disclosed in the Q2 Financial Report.
Has anyone seen this in the Q2 report?
Q2 means Quarter 2 ( April , May , June ) So i think they will disclose details about that after June or start of july I think they always did financial reports after each Quarter if i remember right . Its nice to see how they manage to spend money Every other project should take a lesson from Iconomi |
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