[ANN][CrowdSale Ended]🌟🌟🌟🌟 NVO Decentralized Exchange | MultiWallet 🌟🌟🌟🌟

[btxu]

I joined this - but the address I sent the BTC from, is different to the address I created to have the Tokens paired with.

Is this going to be an issue? I own both addresses (the sent from, and one I paired with) so I'm assuming not?

[Lauda]

Is there any information about how many investors joined the crowdsale  and bought tokens so far?
I can`t seem to find such information.
How can such information be verified?
I`m sorry if my questions sound stupid,i`m not very familiar with crowdsales.

Why would you need to know the number of investors that joined the project? If you care about the number of tokens you are going to receive then the important metric is the amount of money the project has raised and not the number of investors, at this moment you can add all the cryptos on the top by multiplying the amount of crypto raised vs its price in dollars and then adding the results together.

He wants to know if this initial offering is successful, and amount of invested BTCs so far. This is tricky, and won't help you to make right decisions, maybe it will help you to get courage to do somthing. Better investigate what is this project and why has a potecial, then you will get better perspective.

More the investors, more will be the growth. Based on this above mate could have requested to know about the number of investors into the project. With this righteous factor regarding the growth of the ICO after crowdsale cannot be calculated accurate, but the strength can be predicted to some extent.

The total amount invested is public, and one can easily calculate the total in BTC/USD based off of the number found on the NVO.io website (the bar at the very top). Every single token has been bought as soon as someone invested $1, that's how this crowdsale works. Now the number of investors can not be revealed. You may ask yourself why. The problem is that:
1) An investment from an unique address or inputting an unique address (i.e. total number of unique addresses in dashboard) != unique user.
2) Number of registered users != unque user.

Therefore, it is absolutely not possible to correctly state the number of unique investors. All that could be possibly provided is an estimate.

I joined this - but the address I sent the BTC from, is different to the address I created to have the Tokens paired with.

Is this going to be an issue? I own both addresses (the sent from, and one I paired with) so I'm assuming not?

If you send BTC from address A, then you will get tokens on address A. For Bitcoin, it does not matter which address you put into the dashboard (although, obviously it is recommended to input the same one).

[klf]

If you send BTC from address A, then you will get tokens on address A. For Bitcoin, it does not matter which address you put into the dashboard (although, obviously it is recommended to input the same one).

Since you mentioned that we no need to put same address in dashboard then we can send BTC even without opening an account in https://nvo.io/? site right?

Anyway, I have put in the same BTC address in my dashboard and sent BTC from the same address.

[nemgun]

If you send BTC from address A, then you will get tokens on address A. For Bitcoin, it does not matter which address you put into the dashboard (although, obviously it is recommended to input the same one).

Since you mentioned that we no need to put same address in dashboard then we can send BTC even without opening an account in https://nvo.io/? site right?

Anyway, I have put in the same BTC address in my dashboard and sent BTC from the same address.

Yes, in the case of bitcoin only, but it is better if you register as the team can help you if there is any issue.

[Lauda]

Since you mentioned that we no need to put same address in dashboard then we can send BTC even without opening an account in https://nvo.io/? site right?

You could, but it is absolutely not recommended.

Anyway, I have put in the same BTC address in my dashboard and sent BTC from the same address.

Besides better support, there are cases where users may send from several addresses at once (in the same transaction). One way to determine which address they will receive their tokens on is by querying the address that they've put into the dashboard.

[btxu]

I joined this - but the address I sent the BTC from, is different to the address I created to have the Tokens paired with.

Is this going to be an issue? I own both addresses (the sent from, and one I paired with) so I'm assuming not?

If you send BTC from address A, then you will get tokens on address A. For Bitcoin, it does not matter which address you put into the dashboard (although, obviously it is recommended to input the same one).

Ah ok, and Jaxx wallet addresses are compatible?

[slaman29]

Nine days and seven hours ++ left and it is really quite amazing to see the numbers collected. Bitcoin = $1.1 millions. ETH = $0.85 millions.

Not sure the value of the others but from 2 cryptos is already 2 million. I am only able to invest about $100 maximum... so I will account for 0.005% of ICO oh well:)

[Chris!]

For those that are interested the USD value of all the coins collected so far is $2,919,985.66 so they're pretty much at the $3million mark (as of the price snapshot I took ~5 minutes ago).

[ViperBessa]

I'm sorry but I have a question, my NVO coins will be sent to my bitcoin desktop wallet? I can view them in my wallet bitcoin core? Or is another procedure required?

[btxu]

Let me explain to you why 2 tokens.
NVO Token will represent the market cap of the NVO project.
let's imagine a daily volume on the NVO exchange of : 500.000 USD.
Weekly it is : 3.500.000 USD
Let's say Bob exchanges Bitcoin for Alex's Ethereum.
NVO will take a fee of 0.2% at the moment of the transaction from Bob and from Alex which will result in a total of 0.4% on the transaction.
During a week of trading, NVO will collect 0.4% of the trading volume which is 3.500.000 USD resulting in 14.000 USD.
NVO will keep 7.000 USD, and share 7.000 USD among the  NVOT holders.
In order to get deeply in the details, and know how much an investor will get as a return, let's say that NVO collected 300.000 USD from the crowdsale from 200 investors or bakers.
The average investment by investor would be 1500 USD.
As the weekly collected fees would be 7.000 USD / 200 investors, it would return an average of 35 USD.
In this case, NVO won't have troubles regarding legal stuff as it will process tiny amounts, and won't be forced to be centralized by an authority.
But if NVO does a 5.000.000 USD  volume daily, which is reachable, it would bring 35.000.000 USD weekly volume, 140.000 USD fees collected, and 70.000 USD for the investors which will result in 350 USD weekly for each investor on average. Monthly it would be 1400 USD, and this would attract the attention of the authorities depending from which country the investors are using the wallet.
In order to protect NVO and the investors, the NVO team decided to create the NVOS who's value will be fixed at 0.99$. On the legal plan, as the price of NVOS will be lower then 1$, it's processing will be considered as a gift, which will keep it legal, like faucets.

If you have questions about the volumes, please visit this link : http://coinmarketcap.com/exchanges/volume/24-hour/
You willfind a list of exchanges with their daily volume, you could then have an idea of the future volume of NVO.

Taken from the comment in page 3.

Given the new information, of funding of about 3,000,000 USD

Let's do a hypothetical, and say on average each person invested $1500 worth of bitcoin.

That would make 2000 investors. Give the maths above - if a daily volume on the exchange of $500,000  - that would leave $7000 split between 2500 people every week.

$2.8 per week. or just over $10 a month.

To recoup their investment - they would have to be collecting that for 150 months - or just over 12 years - to break even.


If we go with the hypothetical "reachable" $5,000,000 then that changes to

$28 a week - or just over $100 a month - and it would be a year and a few months to break even. However $5,000,000 is about 10x more than the most successful crypto exchange currently deals with.




I'm thinking the maths doesn't look good.

[Lauda]

I'm sorry but I have a question, my NVO coins will be sent to my bitcoin desktop wallet? I can view them in my wallet bitcoin core? Or is another procedure required?

There are no "NVO coins". There is NVOT/NVOS, both of which are counterparty tokens. You will need to import your private key into counterparty.

$28 a week - or just over $100 a month - and it would be a year and a few months to break even. However $5,000,000 is about 10x more than the most successful crypto exchange currently deals with.

In what fantasy world does this statement make sense? The current market leader, Poloniex, does about ~$500 000 000 in daily volume¹. That is 500 Million USD. You are confused.
[1] - https://coinmarketcap.com/exchanges/volume/24-hour/

[btxu]

I'm sorry but I have a question, my NVO coins will be sent to my bitcoin desktop wallet? I can view them in my wallet bitcoin core? Or is another procedure required?

There are no "NVO coins". There is NVOT/NVOS, both of which are counterparty tokens. You will need to import your private key into counterparty.

$28 a week - or just over $100 a month - and it would be a year and a few months to break even. However $5,000,000 is about 10x more than the most successful crypto exchange currently deals with.

In what fantasy world does this statement make sense? The current market leader, Poloniex, does about ~$500 000 000 in daily volume¹. That is 500 Million USD. You are confused.
[1] - https://coinmarketcap.com/exchanges/volume/24-hour/

Ahh! I'm glad, I missread! Went to look at what the highest exchanges currently trade daily - and for some reason saw it as 500,000 - my mistake.

The rest was correct though - at 500,000 daily it would be an extremely bad investment, but if it goes higher than could be quite good.

[johnwest]

Happy to advertise about a going to be a successful venture in the near future, When I was introducing Nvo to my friends, one of the random question which arose was having an app in Android as well as in iOs. Whether there is a plan regarding this and a mobile wallet with it??

[ViperBessa]

Hey guys, more one question... The deposits with altcoins can be made through exchanges? Or do they follow the same rule as bitcoins?  I made a deposit by Bitcoin from my private address to the escrow address, but I cant view it in my balance in ICO web site, is this normal ?

[Taki]

Hey guys, more one question... The deposits with altcoins can be made through exchanges? Or do they follow the same rule as bitcoins?  I made a deposit by Bitcoin from my private address to the escrow address, but I cant view it in my balance in ICO web site, is this normal ?

Probably you don't see it cause of you pairs the lowest transaction fee and it takes like 1+ hours to get the money. Be patient and of course write us about your success.

[NEMergizer]

I am confused about one point regarding multi-sig and how the validators are going to handle their own private keys.

In the abstract section in the white paper you have mentioned:

"The validator process raw transactions and doesn’t hold any private keys or assets nor can it sign transactions resulting in a trustless decentralized exchange using the Safenetwork to validate orders."

Will the validator hold their own private keys "that will be used in the multi-sig exchange operations"? If so, will these private keys get stored in the safe net? Now I am confused on how the private keys will be handled in a decentralized manner. Will the validator make use of it's own private keys at all? I assume yes cause the validators will have to authorize the multi-sig transactions during the exchange process to prevent double spending attacks. How are you planning to secure the validators private keys in the safenet with the fact that the private keys has to be decrypted in memory to authorize transactions.

Will the NVO team have access to the validator's private keys? If so isn't that a centralized point of failure in case of any sort of validators manipulation due to private keys hacks?

I am quite sure I am missing something about the NVO validators design. Please explain how the validators are gonna secure their own private keys.

[Allo]

Re-posting @nemgun's response from https://safenetforum.org/t/nvo-decentralized-exchange-crowdsale/13608/630

In our typical scenario, user A has BTC and wants to buy ETH, and user B has an ETH and wants to sell them for BTC.

1. At any given time User A shall submit an order expressing its intention to purchase 100 ETH @ 0.1 BTC / ETH prices
The order will be the procedure of creating address 2of2
* The validator part in the wallet named safe browser will create a 2of2 address with the amount, price, ETH reception address, it will call the smart contract encrypted in double sha 256.
* The private key of the address will be stored in the safenet
* The decryption key for the private key that is stored in the safenetwork will be stored on a blocked encrypted blockchain this blockchain is the inverse of a standard blockchain it encrypts the information.
* The mini blockchain will place the order in the order book
* The mini block chain has the role of syncronizing the wallets and it allows communication between them.

2. At another time, User B will issue an order to sell 50 ETH Awards @ 0.1 BTC / ETH

The validator part in the wallet named safe browser will create a 2of2 address with the amount, price, ETH reception address, it will call the smart contract encrypted in double sha 256.
3.Calculation Exchange Procedure
* The mini block chain will detect the deal by logical price
* She will call the two smart contracts that will be compared
* At the end of this verification, the active wallet will engage the safebrowser
* The safebrowser vas creates the ultimate smart contract that will be named the smarcontract swap
* The smartcontract swap will compare the amounts to deduct the excess with the exchange addresses.
* The excess will remain on the smart contract which will be returned on the safenetwork waiting for another deal the ride will be 0.04994 btc all from hangs from sending fee.
* The smartcontract swap will be copied into 4 online wallets in case of disconnection, the blockchain will specify the wallets online in a way aleatoir.
* It will take 4 copies of the smart contract for the deal to be realized, once synchronised the smartcontract swap realises the swap en then is deleted.
* Arrive at this stage the smart contract will be deleted.

This is where my logic model stops because for the following I am in test phase for the 0conf.

[radjie]

Is there any information about how many investors joined the crowdsale  and bought tokens so far?
I can`t seem to find such information.
How can such information be verified?
I`m sorry if my questions sound stupid,i`m not very familiar with crowdsales.

Why would you need to know the number of investors that joined the project? If you care about the number of tokens you are going to receive then the important metric is the amount of money the project has raised and not the number of investors, at this moment you can add all the cryptos on the top by multiplying the amount of crypto raised vs its price in dollars and then adding the results together.

He wants to know if this initial offering is successful, and amount of invested BTCs so far. This is tricky, and won't help you to make right decisions, maybe it will help you to get courage to do somthing. Better investigate what is this project and why has a potecial, then you will get better perspective.

More the investors, more will be the growth. Based on this above mate could have requested to know about the number of investors into the project. With this righteous factor regarding the growth of the ICO after crowdsale cannot be calculated accurate, but the strength can be predicted to some extent.

With many investors entering this project will grow even with the crowdsale live more developed by the team work is very professional in it if must count the people who have invested in it it is difficult if must calculate accurately.

[Duzter]

Happy to advertise about a going to be a successful venture in the near future, When I was introducing Nvo to my friends, one of the random question which arose was having an app in Android as well as in iOs. Whether there is a plan regarding this and a mobile wallet with it??

Everything will get implemented little by little. Now the entire focus seems making the crowdsale successful and getting a good value to the tokens. An application development is quite a brilliant approach to maximize the usage as now majority of the users all around prefer Mobile usage.

[NEMergizer]

Re-posting @nemgun's response from https://safenetforum.org/t/nvo-decentralized-exchange-crowdsale/13608/630

In our typical scenario, user A has BTC and wants to buy ETH, and user B has an ETH and wants to sell them for BTC.

1. At any given time User A shall submit an order expressing its intention to purchase 100 ETH @ 0.1 BTC / ETH prices
The order will be the procedure of creating address 2of2
* The validator part in the wallet named safe browser will create a 2of2 address with the amount, price, ETH reception address, it will call the smart contract encrypted in double sha 256.
* The private key of the address will be stored in the safenet
* The decryption key for the private key that is stored in the safenetwork will be stored on a blocked encrypted blockchain this blockchain is the inverse of a standard blockchain it encrypts the information.
* The mini blockchain will place the order in the order book
* The mini block chain has the role of syncronizing the wallets and it allows communication between them.

2. At another time, User B will issue an order to sell 50 ETH Awards @ 0.1 BTC / ETH

The validator part in the wallet named safe browser will create a 2of2 address with the amount, price, ETH reception address, it will call the smart contract encrypted in double sha 256.
3.Calculation Exchange Procedure
* The mini block chain will detect the deal by logical price
* She will call the two smart contracts that will be compared
* At the end of this verification, the active wallet will engage the safebrowser
* The safebrowser vas creates the ultimate smart contract that will be named the smarcontract swap
* The smartcontract swap will compare the amounts to deduct the excess with the exchange addresses.
* The excess will remain on the smart contract which will be returned on the safenetwork waiting for another deal the ride will be 0.04994 btc all from hangs from sending fee.
* The smartcontract swap will be copied into 4 online wallets in case of disconnection, the blockchain will specify the wallets online in a way aleatoir.
* It will take 4 copies of the smart contract for the deal to be realized, once synchronised the smartcontract swap realises the swap en then is deleted.
* Arrive at this stage the smart contract will be deleted.

This is where my logic model stops because for the following I am in test phase for the 0conf.

Thanks for the link. This still doesn't answer my questions.

It is mainly these two points that I find kinda unclear from a security perspective:
* The private key of the address will be stored in the safenet
* The decryption key for the private key that is stored in the safenetwork will be stored on a blocked encrypted blockchain this blockchain is the inverse of a standard blockchain it encrypts the information.

The private keys will be stored encrypted in blockchains/safenet to be decrypted and used at some points. The question is how these keys will be used safely in a decentralized manner? The only way I can think of that would make such process secure is to have couple of offline/centralized processors. Having all the logic running on the cloud of safenet/blockchains might not be free of security flaws.