(LKK) LYKKE speculation

[tempus]

Yes, I tend to agree that in the leadup to Segwit 2x downside risk probably isn't fully priced, so below 15 cents would be a buying opportunity.

What I've said about Richard Olsen is Lykke is a "make Richard Olsen richer scheme". This is patently obvious given that he owns most LKK. It is not even a criticism of him, I think he's a genius. But I don't like this pretense that he's all a lovey-dovey, hug-the-tree, let's all be fair to each other, kindly Scandinavian uncle. If you didn't notice, he's a ruthlessly successful businessman - that's not a bad thing, but pretending to people that this man who owns most LKK is not in it for his own profit is a bad thing.
 

Regarding Bitcoin: I'm not so sure that things will go wrong. Reason is: A huge majority wants segwit and I know of nobody with authority and skin in the game who would want a split. What is likely to happen: Segwit will hopefully (my opinion it's likely) be activated pretty soon and then we will see if the hardfork to 2mb will happen. That is controversial for sure but it will be some time in between.

And that absolutely could lead to a rising price because the pressure on Bitcoin is caused by all the controversy and the frozen fronts-status and the lack of progress - not just since we see the price going down but even earlier, that it didn't move up much more.

But, we will see how things turn out. Bad scenarios are not impossible of course but will most likely hit the whole market. That's why I think your focus on Lykke is so interesting. ;-)

Like I've already told you: It's never smart to state personal theories as facts and to speak about people you don't know in such a way. Whatever you might think about Richard Olsen doesn't matter. Of course it's easy to come up with accusations like you already did, that he would intervene on the market, because the price didn't drop like you wanted to see it (and let's not forget: You just need to take a look at the volume and you know WHO buys. That's a great skill!) And of course it's easy to say things about R. Olsen how you do it now, using words like "ruthlessly" etc., while being hidden behind a pseudonym.

But from us both here, you are the one who doesn't know him. I have never met him personally but we've talked several times on phone. And we both can't look into his head, but I never had the impression that he started Lykke to make money and he is in no way ruthlessly but the opposite. And since many many years Richard Olsen is known as Innovator, as somebody who is a combination of economical expert, business man, philosoph, and yes... he really wants to change how financial markets work - that's not an attitude to make money. He is absolutely serious about that and not just since Lykke.

So, if you really want to write bullshit about him I can't stop you but maybe ask yourself why. Nobody has ever tried to force you into buying LKK. Your problem is that you want it cheaper.

And when it's about Richard Olsen's supply, let's try it with logic:

- Richard Olsen is the main-founder of Lykke, the one who started it
- He is one of several people behind this project who works hard for it every day.
- Richard Olsen is the main-investor
- LKK is not a cryptocurrency but represents ownership of the company

So why the hell shouldn't he own most of it?


It's really simple:

If an Investor believes in the idea and has some trust into the team, he might recognize it as an opportunity and a potential win-win-situation to buy LKK - all risks involved. If somebody doesn't believe in Lykke and/or the people who are working on it is free to stay away.

And if somebody considers LKK as good investment, like you already said that:

(...)  You picked a good investment early, (...)

....but believes that it's overvalued: Simply wait. If you are sure that the price will go down, just wait to get it cheaper somewhere in future. But if you believe that you have to talk it down with all what you come up with - that is really revealing. That shows much more about you than about Lykke or Richard Olsen.

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[mtnsaa]

Yes, I tend to agree that in the leadup to Segwit 2x downside risk probably isn't fully priced, so below 15 cents would be a buying opportunity.

What I've said about Richard Olsen is Lykke is a "make Richard Olsen richer scheme". This is patently obvious given that he owns most LKK. It is not even a criticism of him, I think he's a genius. But I don't like this pretense that he's all a lovey-dovey, hug-the-tree, let's all be fair to each other, kindly Scandinavian uncle. If you didn't notice, he's a ruthlessly successful businessman - that's not a bad thing, but pretending to people that this man who owns most LKK is not in it for his own profit is a bad thing.

Your logic is completely flawed and I agree on the comments on Richard Olsen that tempus just gave you. However I can see why you are concerned on "a guy owning most of the coins" concept since you seem to come from a crypto background like most of us. I also would take that seriously when doing due dilligence but you need to change that view with Lykke since you are talking about a company not a protocol or a currency here.

So your argument is wrong in the sense that it can be applied to Facebook/Zuckerberg or the guys at Snapchat who own like 98% of the shares. LKK will become more distributed with time although there's no really a need for that, it doesn't have any benefit whatsoever, you can use Lykke products and services without buying shares in the company just like you use Gmail or let's say Coinbase or Xapo for similar competition examples.

[playingpoodles]

Look tempus and mtnsaa leave the Richard Olsen thing alone. I hardly think calling a successful businessman a "ruthlessly successful businessman" would give someone an action against me, anonymous or not. The whole point is I never post factually inaccurate things, or personally attack people. Just because there's a soft velvet glove on the outside doesn't mean there's not an iron fist inside it, and there's a lot of successful people I think that applies to.

And no it doesn't bother me at all that Richard Olsen gets supermajority of LKK and makes most profit from Lykke's success, and no tempus from all the documents I've seen he is not the largest capital investor, there were some angel investors and the ICO and that's where most of the funding came from. I don't mind that either, I say good on him. What I mind is the pretense that he's not a hard-as-nails businessman out to make money - if he's not into the money he can pledge half his coins to the Gates Foundation or something. I don't think he should, I just think it's insane to suggest he has no profit motive. But let's just leave him out of it, I think we both agree that we admire him even if you see more selfless motivations in him than I do.

The point is other people put up most of the capital, and Richard stands to make a supermajority of the profit. The question 'is that unfair?' to me is a pointless one. The better question is, is that life? Yes, it is.

tempus I agree with you that once Bitcoin DOES scale with Segwit 2x,and like you I believe IT WILL, then it will go crazy upward. But before that, as we get closer to 1 August, I wonder if some money will get scared out of the market, and I think non BTC coins including Lykke are likely to be more affected by this fear than even BTC. Like you say, we'll see.

[tempus]

Look tempus and mtnsaa leave the Richard Olsen thing alone.

Who started talking about him?


 

I hardly thing calling a successful businessman a "ruthlessly successful businessman" would give someone an action against me, anonymous or not. The whole point is I never post factually inaccurate things, or personally attack people. (...)

Let's try - you said:

(...) LKK started selling off earlier and faster than the altcoin market as a whole. (...)
 

Is that factually accurate?


And you didn't personally attack? I don't want to copy it all but take a look at all what you've said about Richard Olsen, including:

Personally, my sense is that the top echelons of Lykke (including Brother Number One, who is very rich and certainly can inject liquidity) of Lykke are intervening to try and hold LKK from crashing. You can see it in the high volume and sharp drop off, that has been temporarily leveled. 

Is that factually accurate and not personal, especially in the context what else you said about him and Lykke in general?


Regarding him being the biggest Investor: He said that himself once on telegram. Unfortunately I didn't make a screenshot. But thing is: He started Lykke out of nothing so I don't have much doubt that it's true.

[mtnsaa]

Look tempus and mtnsaa leave the Richard Olsen thing alone. I hardly think calling a successful businessman a "ruthlessly successful businessman" would give someone an action against me, anonymous or not. The whole point is I never post factually inaccurate things, or personally attack people. Just because there's a soft velvet glove on the outside doesn't mean there's not an iron fist inside it, and there's a lot of successful people I think that applies to.

And no it doesn't bother me at all that Richard Olsen gets supermajority of LKK and makes most profit from Lykke's success, and no tempus from all the documents I've seen he is not the largest capital investor, there were some angel investors and the ICO and that's where most of the funding came from. I don't mind that either, I say good on him. What I mind is the pretense that he's not a hard-as-nails businessman out to make money - if he's not into the money he can pledge half his coins to the Gates Foundation or something. I don't think he should, I just think it's insane to suggest he has no profit motive. But let's just leave him out of it, I think we both agree that we admire him even if you see more selfless motivations in him than I do.

The point is other people put up most of the capital, and Richard stands to make a supermajority of the profit. The question 'is that unfair?' to me is a pointless one. The better question is, is that life? Yes, it is.

tempus I agree with you that once Bitcoin DOES scale with Segwit 2x,and like you I believe IT WILL, then it will go crazy upward. But before that, as we get closer to 1 August, I wonder if some money will get scared out of the market, and I think non BTC coins including Lykke are likely to be more affected by this fear than even BTC. Like you say, we'll see.

I don't really mind your critics and "concerns", you have a lot of good points and things that need to be clarified, plus some are very benefitial for Lykke on how to improve. But it's all over the place sometimes and at other times you are stating opinions as facts, which I don't think is wise, it goes nowhere.

I very much agree on your thoughts on business "leadership" and how of course every businessman should fight hard for its company to make money, however you mentioned the Gates foundation, many CEOs and wealthy people (some already left the position) are really trying to make the world a better place, they are older and more mature and greed is out of the equation already, they have a lot money and power already. You can see that in many personalities like Elon Musk, Bill Gates, Jack Ma, etc. Others were more ruthless like Steve Jobs if you will! But most succesful people like that end up being the most generous in comparison to people like us that live day to day or month to month.

But to answer your question about "if he's not into the money he can pledge half his coins to the Gates Foundation or something", it's funny but the answer is at Lykke site clear as water although I don't have much more info than that:

What are the long-term plans of Richard Olsen, the major shareholder?
Richard has pledged his shares to a social cause after fulfilling his other responsibilities.

So as you see, you have to acknowledge that on some topics you are not well informed and we are trying to give you some insights from the other side even if we are not from the development team.

[Peao]

I think there will be such projects in the future. with the interest in the crypto currency markets, the market for input and output money into important projects. tenx is in the eyes of investors and Monaco. this also is an important platform. the Web application must be active. 

[playingpoodles]

All right I went too far in expressing my opinion that top echelons of Lykke were injecting liquidity, mainly in alluding to Richard by name. For this I apologise to him, and I will remove that post. I should have said "manipulated the market to try to stop Lykke's price dropping" and mentioned no one by name.

"Richard has pledged his shares to a social cause after fulfilling his other responsibilities." I find this a completely meaningless pledge. It will become meaningful when he interprets this to mean he HAS fulfilled his responsibilities and therefore HE WILL donate his shares to the public good. Since he hasn't done that at present, despite being a very high net worth individual, he obviously interprets that he hasn't fulfilled his other responsibilities, an interpretation I'd probably find very tempting to come to also in the same position. This is kind of what I mean by 'the iron fist inside the velvet glove'.

Happy to drop this topic.

... my sense is that the top echelons of Lykke (including Brother Number One, who is very rich and certainly can inject liquidity) of Lykke are intervening to try and hold LKK from crashing...

[MarioLuck990]

Hi to all, I wonder why Lykke share has stuck at this price and ICOs like monaco and TenX went to the moon, which are one piece of the Lykke project? Is because of the bad marketing or no marketing do you thing

[vlom]

Hi to all, I wonder why Lykke share has stuck at this price and ICOs like monaco and TenX went to the moon, which are one piece of the Lykke project? Is because of the bad marketing or no marketing do you thing

stuck at ICO price? are you kidding? I bought during ICO and the price was 0.05 CHF. Now the price is about 0.35 CHF.

https://coinmarketcap.com/currencies/lykke/

[kronos123]

Hey I also bought it during ICO .... sorry that you forget that when you bought lykke at 0.05 chf the Bitcoin was $ 800, that's why lykke was first 0.05 and is now $ 0.35; is bitcoin that is increased, not lykke.
When i bought lykke and saw it in marketcap the first time it was about 6,500 satoshi while it is now about 7,500 ... this unfortunately is not a good growth so far.
I hope that one day it will eventually explode and be traded on other exchanges.

[mtnsaa]

Hey I also bought it during ICO .... sorry that you forget that when you bought lykke at 0.05 chf the Bitcoin was $ 800, that's why lykke was first 0.05 and is now $ 0.35; is bitcoin that is increased, not lykke.
When i bought lykke and saw it in marketcap the first time it was about 6,500 satoshi while it is now about 7,500 ... this unfortunately is not a good growth so far.
I hope that one day it will eventually explode and be traded on other exchanges.

While the whole cryptocurrency market increased during the last 12 months, I would say many projects adjusted its prices accordingly compared to Bitcoin pairs, that's only natural, if not then Litecoin or Ethereum would be well above $300-500 and $1000 respectively at some point.

On the other hand, if Bitcoin goes above $5000, it's only natural for their close competitors to benefit for a increase in price, just as an hedge but not only that, many of us believe there's no single blockchain to rule them all but many ones (which is not very wise since relying on one will be point of failure).

I would say LKK hasn't even rally in terms of BTC yet, it adjusted quite rationally in my opinion, we mentioned many times in this thread and the official one that LKK seems to be a more stable option compared to others where crazy volatility is the usual scenario.

[kawacaki]

for all of you who don't follow lykke that close,
here is a some of the things they have done since i started this thread in april.

april 26 -  Lykke opened an office in Singapore

https://www.lykke.com/company/news/seamus_donoghue_joins_lykke

may 11 - lykke hired founder of Solarcoin, Nick Gogerty ass their chief strategist

https://www.lykke.com/company/news/nick_gogerty

june 1-3 Lykke CBDO attend the St. Petersburg International Economic Forum

https://www.lykke.com/company/news/lykke_will_attend_the_st_petersburg_international_economic_forum

june 8 - Ether has been added to the lykke exchange!

https://www.lykke.com/company/news/ether

june 14 - "Lykke made history today by integrating a first-of-its-kind offchain settlement capability into the Lykke Exchange trading platform"

https://www.lykke.com/company/news/lykke_adds_scale_to_the_bitcoin_blockchain

june 28 - Lykke Wins FinTech of the Year Award in Digital Championship Cyprus 2016–2017

https://www.lykke.com/company/news/lykke_wins_fintech_of_the_year_award

august 26 -  lykke exchange limit orders released

https://www.youtube.com/watch?v=J4Buz_uMz28&utm_content=buffer5892a&utm_medium=social&utm_source=facebook.com&utm_campaign=buffer

august 29 - Lykke Partners with CryptoTax

https://www.lykke.com/company/news/lykke-cryptotax

september 4 - Lykke announces the grand opening of Lykke de México S.A. de C.V., a Mexican subsidiary designed to bring the unique Lykke trading experience to the Latin American market.

https://www.lykke.com/company/news/lykke-mexico


so as you can see, they have been pretty busy!
Lykke is gonna grow and grow, and the price will follow.

[MarioLuck990]

Does any one know what's going on with USA and Singapore regulations? Or when Lykke will release the promised lykke credit card?

[tempus]

Does any one know what's going on with USA and Singapore regulations? Or when Lykke will release the promised lykke credit card?

Latest update about the regulatory front is this:


United States
The legal entity of Lykke Securities (SEC Broker) has been registered with the state of New Jersey, which means that Lykke Securities is officially recognized as a New Jersey company. The registrations for the legal entity Lykke Dealer (CFTC Broker) have been completed at U.S. Federal, state, and city levels. The U.S. National Futures Association has issued an ID for Lykke Dealer.

United Kingdom
Lykke UK has onboarded an additional cryptocurrency liquidity provider. The MTF application process is being discussed, and an FCA representative had been allocated. An application package in compliance with MiFID (II) standards is in the process of being updated for submission.

Cyprus
Lykke Cyprus is one step away from achieving its licenses. The Lykke Investment Firm is in the final stage of being authorised by the Cyprus Securities and Exchange Commission, and it is ready to serve clients for trading, portfolio management, and investment advice and research. We have already received a response from the Central Bank of Cyprus for our Electronic Money Institution license, which has also  proceeded to the next phase. The Lykke EMI will be ready to serve any type of client for all electronic payments.

Singapore
Lykke Singapore has established a Singapore holding company called Lykke Corp Pte Ltd. We will be establishing two new entities as subsidiaries in the next few months: Regulated Exchange Activities and Asset Management. We have also defined our regulatory MAS licensing strategy, which includes RMO, or the Exchange Licence; SVF, or E-Wallet; Custody; Remittance Licence; Asset Management; and Crowdfunding. In addition, we have prepared our roadmap for unregulated products in the area of non-securities trading, namely Singapore Wallet, and  we are localizing the Terms and Conditions and the Know Your Customer and Anti-Money Laundering processes for the wallet application.


__________________

Credit Card - Screenshot from Telegram: https://imgur.com/33YhM8a

[jonridgeon]

Tempus, it would be really helpful if you can answer this question for me, you seem to know the lykke fundamentals very well and give clear answers.

What will the total circulating supply of LKK be when they are all issued/ sold on the lykke exchange?

I can't find the answer anywhere on the lykke website (im sure it used to be there), and i have also been contacting lykke support but i dont seem to be able to get a clear answer! As an investor, it's important to know this number.

Thanks!

[kronos123]

Thanks to Tempus and Kawasaki for the news you always provide on Lykke.
My was not a critic, I'm also in Lykke from the beginning, but I just wanted to say that lykke grew up little in terms of satoshi ... it grew up in $ because bitcoin grew.
Sooner or later Lykke will be noticed and discovered by investors and market and then there will be a violent price explosion.

[kawacaki]

Why Lykke? Why is it unique?
Reason 2: multisignature trading wallet


What makes Lykke truly unique is its multisignature trading wallet. And you can ask, why is it so unique if most exchanges validate operations with multiple signatures? Indeed, most exchanges have several keys necessary to validate trading operations, and they store them in different places. But it’s not the same that we have in Lykke!

What makes Lykke’s system different is that these keys not only are stored in different places but also belong to different parties: one key belongs to the user and the other – to Lykke exchange. Unless both parties use their keys, no operation can be authorized and no funds can be moved. You can read more about how this system works on our site: https://goo.gl/jreb18.

Moreover, this system was developed entirely by our team and the code is completely internal. This is why Lykke’s multisignature technology makes any malicious operation mathematically extremely unlikely and the wallet - really well protected!

Take a look at this video to find out more about Lykke Wallet safety: https://www.youtube.com/watch?v=j2h...

[forestbear97]

Very disappointing news regarding the change from a semi-decentralized exchange to a centralized one. The price of the original Lykke shares has now gone down to under 25 cents. Had an initial investment of equal value been placed in any of the other major ICOs or existing cryptocurrency coins/tokens there would have been far more growth than what we have seen with Lykke. I'm not sure Lykke will recover from this latest news, let alone reach the potential many originally thought it had.

[mtnsaa]

Very disappointing news regarding the change from a semi-decentralized exchange to a centralized one. The price of the original Lykke shares has now gone down to under 25 cents. Had an initial investment of equal value been placed in any of the other major ICOs or existing cryptocurrency coins/tokens there would have been far more growth than what we have seen with Lykke. I'm not sure Lykke will recover from this latest news, let alone reach the potential many originally thought it had.

We have to remember the move is temporary (although a viable solution could take months) and Lykke remains focused on delivering all the promises and core parts of its identity including decentralization, direct ownership and instant settlement. It's just that with the current state of blockchain technology that's just not possible to deliver. It's possible but at what cost? The negative side effects were experienced by both the company and its users (in terms of costs and resources and bad user experience).

And while being a semi-decentralized exchange was a very unique selling proposition as mentioned, Lykke can become profitable right now which will benefit the company (by reinvesting its revenue) and its shareholders (by paying dividends). Having a centralized model will make it much easier to add new digital assets therefore aiming at improving daily volume.

[Gaius Cryptus Tradius]

LKK is an interesting coin since you also own a stake in the company and you can participate with voting rights in the yearly meeting. Interesting concept!