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Author Topic: [ANN][ICO] WCX – Digital currency exchange built by ex Apple engineers  (Read 174315 times)
hamnchess
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August 25, 2017, 06:36:56 PM
 #1381


Have any of you seen the financials of a typical exchange? It's going to cost these guys about $250k per month if they're going to run a serious exchange.


Proof,source or just speculation? Until recent bitfinex wasn't even make $250K a month.

Sure, my source is the CTO of a major exchange.

I've also seen financials of other exchanges that had approached me for funding as an investor.

U expect us to believe theat?

Btw my friend is the CEO of Poloniex, he's tremendous, very fine guy
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MrLitex
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August 25, 2017, 07:52:59 PM
 #1382


Have any of you seen the financials of a typical exchange? It's going to cost these guys about $250k per month if they're going to run a serious exchange.


Proof,source or just speculation? Until recent bitfinex wasn't even make $250K a month.

Sure, my source is the CTO of a major exchange.

I've also seen financials of other exchanges that had approached me for funding as an investor.
Please, stop trolling or troll with arguments, thank you.

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JoshuaT
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August 25, 2017, 08:05:56 PM
 #1383



U expect us to believe theat?


You believe WCX, so sure, why not?
flattail
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August 25, 2017, 08:09:12 PM
 #1384

Addressing the Important Question of Coin Cap I did the math!  Wink

From the calculator on their website, if you say you hold 250,000 coins and you set daily volume = $1B, then your monthly payout is $1,500.
  • $1B/day in volume, with a fee of 0.1% yields fees of $1,000,000/day * 30 days/month = $30 million/month in profits
  • 20% of $30m = $6 million/month to be shared with token holders
  • $1,500/$6,000,000 = 0.00025. That proportion of money is based on my proportion of coins. Hence, 250,000 coins/.00025 = 1,000,000,000 coins total

So the calculator is running on an assumption of 1 billion coins, which would let them raise about $100,000,000 (not that much due to bonuses, coin retention, etc).

Although I too would like more information, I did receive confirmation from Fran Strajnar that he is indeed acting as escrow. His involvement adds a lot of legitimacy to what they are doing and was enough to keep me interested. Details are definitely lacking, but I love the clear mission and the generous profit-sharing program.
JoshuaT
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August 25, 2017, 08:19:43 PM
 #1385

Addressing the Important Question of Coin Cap I did the math!  Wink

From the calculator on their website, if you say you hold 250,000 coins and you set daily volume = $1B, then your monthly payout is $1,500.
  • $1B/day in volume, with a fee of 0.1% yields fees of $1,000,000/day * 30 days/month = $30 million/month in profits
  • 20% of $30m = $6 million/month to be shared with token holders
  • $1,500/$6,000,000 = 0.00025. That proportion of money is based on my proportion of coins. Hence, 250,000 coins/.00025 = 1,000,000,000 coins total

So the calculator is running on an assumption of 1 billion coins, which would let them raise about $100,000,000 (not that much due to bonuses, coin retention, etc).

Although I too would like more information, I did receive confirmation from Fran Strajnar that he is indeed acting as escrow. His involvement adds a lot of legitimacy to what they are doing and was enough to keep me interested. Details are definitely lacking, but I love the clear mission and the generous profit-sharing program.

Yes but, 'any unsold coins' will be destroyed after the ico, with more/new ones never to be sold in the future.

So that could cut the number of coins down to some number.  Unless they have a set number of coins and sell out.

Either they have a set number of coins and will 100% sure sell out, or they end up with less coins and the proposed monthly payouts are off, or they sell more than a billion coins, and again the math is off.

I'm no math whizz, but those proposed payouts pre volume level are just guesses unless they've planned a small number of coins that will for sure sell out.

What if there's 100 billion coins and they sell 2 billion?  What if there's 2 billion coins and they sell out?  What if there's 1 billion coins and they only sell 600  million, thus destroying the remaining 400 million (if they do, but they don't have to destroy anything since they never announced how many total coins there are).

What if you put in $25k and the actual payout is only 1/4 of what they stated on the calculator?
hamnchess
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August 25, 2017, 08:22:54 PM
 #1386

Addressing the Important Question of Coin Cap I did the math!  Wink

From the calculator on their website, if you say you hold 250,000 coins and you set daily volume = $1B, then your monthly payout is $1,500.
  • $1B/day in volume, with a fee of 0.1% yields fees of $1,000,000/day * 30 days/month = $30 million/month in profits
  • 20% of $30m = $6 million/month to be shared with token holders
  • $1,500/$6,000,000 = 0.00025. That proportion of money is based on my proportion of coins. Hence, 250,000 coins/.00025 = 1,000,000,000 coins total

So the calculator is running on an assumption of 1 billion coins, which would let them raise about $100,000,000 (not that much due to bonuses, coin retention, etc).

Although I too would like more information, I did receive confirmation from Fran Strajnar that he is indeed acting as escrow. His involvement adds a lot of legitimacy to what they are doing and was enough to keep me interested. Details are definitely lacking, but I love the clear mission and the generous profit-sharing program.

Yes but, 'any unsold coins' will be destroyed after the ico, with more/new ones never to be sold in the future.

So that could cut the number of coins down to some number.  Unless they have a set number of coins and sell out.

Either they have a set number of coins and will 100% sure sell out, or they end up with less coins and the proposed monthly payouts are off, or they sell more than a billion coins, and again the math is off.

I'm no math whizz, but those proposed payouts pre volume level are just guesses unless they've planned a small number of coins that will for sure sell out.

What if there's 100 billion coins and they sell 2 billion?  What if there's 2 billion coins and they sell out?  What if there's 1 billion coins and they only sell 600  million, thus destroying the remaining 400 million (if they do, but they don't have to destroy anything since they never announced how many total coins there are).

What if you put in $25k and the actual payout is only 1/4 of what they stated on the calculator?

The calculator is base on 1 billion tokens, so $100M, I confirm with it. So its the cap of ICO, mean if less is raise , the remaining supply is destroyed, which mean payout will be more than what caluclator says, not less.
wizzard0
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August 25, 2017, 08:33:10 PM
 #1387

@WCXOfficial registering on the website gives "this email domain is not allowed", care to help?
* the domain is http://tvori.info, my personal website
wcxofficial
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August 25, 2017, 08:38:24 PM
 #1388

@WCXOfficial registering on the website gives "this email domain is not allowed", care to help?
* the domain is http://tvori.info, my personal website

.info domains were banned due to a disproportionate number of spam registrations received from them. Apologies for this - please try a gmail or protonmail address.

WCX - 0-fee crypto margin trading https://wcex.com
wizzard0
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August 25, 2017, 08:42:20 PM
 #1389

.info domains were banned due to a disproportionate number of spam registrations received from them. Apologies for this - please try a gmail or protonmail address.

I see. Sad to hear that. How do you distinguish between "real" and spam registrations btw? (interested for own projects, can discuss in PM)
JoshuaT
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August 25, 2017, 08:49:03 PM
 #1390



The calculator is base on 1 billion tokens, so $100M, I confirm with it. So its the cap of ICO, mean if less is raise , the remaining supply is destroyed, which mean payout will be more than what caluclator says, not less.

You're confirming what, exactly, based on what, exactly? You confirm with what, what the calculator says?   You think that's the cap when they say they're hiding the cap?   

Yes, but if they sell 300 million coins, or 600 million coins, it will be a lot less. 
hamnchess
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August 25, 2017, 09:01:45 PM
 #1391



The calculator is base on 1 billion tokens, so $100M, I confirm with it. So its the cap of ICO, mean if less is raise , the remaining supply is destroyed, which mean payout will be more than what caluclator says, not less.

You're confirming what, exactly, based on what, exactly? You confirm with what, what the calculator says?   You think that's the cap when they say they're hiding the cap?   

Yes, but if they sell 300 million coins, or 600 million coins, it will be a lot less. 


Pat Touma
Client Manager, WCX

tell me the calculator is base on 1 Billion tokns. From hello@wcex.co. If they sell less that is great for us holding WCX, we will get paid more because supply is less. if 300 million coins are sold, rest is destroyed, WCXT will pay 3.3x more than what calc say because calc is set to 1B supply. you understand this
wcxofficial
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August 25, 2017, 09:07:02 PM
 #1392

.info domains were banned due to a disproportionate number of spam registrations received from them. Apologies for this - please try a gmail or protonmail address.

I see. Sad to hear that. How do you distinguish between "real" and spam registrations btw? (interested for own projects, can discuss in PM)

We don't disclose this publicly to prevent spam bots from switching up tactics. PM welcome.

The calculator is base on 1 billion tokens, so $100M, I confirm with it. So its the cap of ICO, mean if less is raise , the remaining supply is destroyed, which mean payout will be more than what caluclator says, not less.

This is correct, the calculator on site is based on a 1B token supply. If less tokens are sold in total, the payments made to WCXT holders will be proportionately higher for the given volumes. A reminder of the formula you can use to calculate payments if you hold WCXT:

Monthly Payment = ( 20% x WCX Last Month Revenue x Tokens You Own ) / Total Tokens

If Total Tokens is lower, Monthly Payment is higher.

WCX - 0-fee crypto margin trading https://wcex.com
Arnaud
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August 25, 2017, 09:36:38 PM
 #1393

malwarebytes is blocking website connection
 got error on website: SSL_ERROR_RX_RECORD_TOO_LONG
JoshuaT
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August 25, 2017, 09:47:43 PM
 #1394

[

This is correct, the calculator on site is based on a 1B token supply. If less tokens are sold in total, the payments made to WCXT holders will be proportionately higher for the given volumes. A reminder of the formula you can use to calculate payments if you hold WCXT:

Monthly Payment = ( 20% x WCX Last Month Revenue x Tokens You Own ) / Total Tokens

If Total Tokens is lower, Monthly Payment is higher.

Are you confirming that the coin cap is 1 billion?    Sorry I'm asking for clarification, but there's a difference between confirming that the coin cap is 1 billion, and confirming that the calculator is based on a 1B token supply.

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August 25, 2017, 10:33:18 PM
 #1395

Not sure it's so expensive to manage an exchange. I think you would have more employees cost than IT cost.
wcxofficial
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August 25, 2017, 10:36:51 PM
 #1396

[

This is correct, the calculator on site is based on a 1B token supply. If less tokens are sold in total, the payments made to WCXT holders will be proportionately higher for the given volumes. A reminder of the formula you can use to calculate payments if you hold WCXT:

Monthly Payment = ( 20% x WCX Last Month Revenue x Tokens You Own ) / Total Tokens

If Total Tokens is lower, Monthly Payment is higher.

Are you confirming that the coin cap is 1 billion?    Sorry I'm asking for clarification, but there's a difference between confirming that the coin cap is 1 billion, and confirming that the calculator is based on a 1B token supply.



Not sure if it will be exactly 1B (this is TBD), but we can confirm it won't be more than 1B. We don't want to sell more than 1B to avoid early investor dilution.

WCX - 0-fee crypto margin trading https://wcex.com
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August 26, 2017, 12:36:06 AM
 #1397

Addressing the Important Question of Coin Cap I did the math!  Wink

From the calculator on their website, if you say you hold 250,000 coins and you set daily volume = $1B, then your monthly payout is $1,500.
  • $1B/day in volume, with a fee of 0.1% yields fees of $1,000,000/day * 30 days/month = $30 million/month in profits
  • 20% of $30m = $6 million/month to be shared with token holders
  • $1,500/$6,000,000 = 0.00025. That proportion of money is based on my proportion of coins. Hence, 250,000 coins/.00025 = 1,000,000,000 coins total

So the calculator is running on an assumption of 1 billion coins, which would let them raise about $100,000,000 (not that much due to bonuses, coin retention, etc).

Although I too would like more information, I did receive confirmation from Fran Strajnar that he is indeed acting as escrow. His involvement adds a lot of legitimacy to what they are doing and was enough to keep me interested. Details are definitely lacking, but I love the clear mission and the generous profit-sharing program.

Yes but, 'any unsold coins' will be destroyed after the ico, with more/new ones never to be sold in the future.

So that could cut the number of coins down to some number.  Unless they have a set number of coins and sell out.

Either they have a set number of coins and will 100% sure sell out, or they end up with less coins and the proposed monthly payouts are off, or they sell more than a billion coins, and again the math is off.

I'm no math whizz, but those proposed payouts pre volume level are just guesses unless they've planned a small number of coins that will for sure sell out.

What if there's 100 billion coins and they sell 2 billion?  What if there's 2 billion coins and they sell out?  What if there's 1 billion coins and they only sell 600  million, thus destroying the remaining 400 million (if they do, but they don't have to destroy anything since they never announced how many total coins there are).

What if you put in $25k and the actual payout is only 1/4 of what they stated on the calculator?

The calculator is base on 1 billion tokens, so $100M, I confirm with it. So its the cap of ICO, mean if less is raise , the remaining supply is destroyed, which mean payout will be more than what caluclator says, not less.
hmmm ... why we need to guess ... this  should be in the whitepaper ... too many questions without answer  Huh Undecided
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August 26, 2017, 12:40:09 AM
 #1398

@Stan We'll have a comprehensive FAQ on the site after the alpha launch which answers many of the questions we've received here, through email, and Twitter. Right now the entire team is focused on delivering the exchange alpha on Sep 1.

WCX - 0-fee crypto margin trading https://wcex.com
JoshuaT
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August 26, 2017, 07:21:56 AM
 #1399

[

This is correct, the calculator on site is based on a 1B token supply. If less tokens are sold in total, the payments made to WCXT holders will be proportionately higher for the given volumes. A reminder of the formula you can use to calculate payments if you hold WCXT:

Monthly Payment = ( 20% x WCX Last Month Revenue x Tokens You Own ) / Total Tokens

If Total Tokens is lower, Monthly Payment is higher.

Are you confirming that the coin cap is 1 billion?    Sorry I'm asking for clarification, but there's a difference between confirming that the coin cap is 1 billion, and confirming that the calculator is based on a 1B token supply.



Not sure if it will be exactly 1B (this is TBD), but we can confirm it won't be more than 1B. We don't want to sell more than 1B to avoid early investor dilution.


Ok, so there will be a maximum of 1 billion coins. 

1.  5,000 people will be invited to join/use the exchange platform on Sep 1, and will be able to deposit/trade/withdraw btc, etc, etc.

2.  Then (those 5,000, same group?) can buy at the ico on Oct 1? 

3.  Will the presale wcx be delivered to buyers and available for trade on Oct 1?

4.  When will all the bonus wcx (for referrals, etc) be delivered?

5.  Where will all the bonus wcx be delivered? (Accounts on the exchange?)

6.  Is exchange account creation still anonymous?
wcxofficial
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August 26, 2017, 07:30:43 AM
 #1400

[

This is correct, the calculator on site is based on a 1B token supply. If less tokens are sold in total, the payments made to WCXT holders will be proportionately higher for the given volumes. A reminder of the formula you can use to calculate payments if you hold WCXT:

Monthly Payment = ( 20% x WCX Last Month Revenue x Tokens You Own ) / Total Tokens

If Total Tokens is lower, Monthly Payment is higher.

Are you confirming that the coin cap is 1 billion?    Sorry I'm asking for clarification, but there's a difference between confirming that the coin cap is 1 billion, and confirming that the calculator is based on a 1B token supply.



Not sure if it will be exactly 1B (this is TBD), but we can confirm it won't be more than 1B. We don't want to sell more than 1B to avoid early investor dilution.


Ok, so there will be a maximum of 1 billion coins.  

1.  5,000 people will be invited to join/use the exchange platform on Sep 1, and will be able to deposit/trade/withdraw btc, etc, etc.

2.  Then (those 5,000, same group?) can buy at the ico on Oct 1?  

3.  Will the presale wcx be delivered to buyers and available for trade on Oct 1?

4.  When will all the bonus wcx (for referrals, etc) be delivered?

5.  Where will all the bonus wcx be delivered? (Accounts on the exchange?)

6.  Is exchange account creation still anonymous?


2. Anyone can buy at the ICO. Presales with higher bonuses will also open to everyone prior to the ICO. The 5,000 who will be let in on Sep 1 are the first batch. There are tens of thousands on the waiting list, and almost 300K in total - we'll let in 5K-10K per week till the public launch.

3. WCXT delivery for presale, bonuses, etc will happen when the ICO begins, e.g. when the tokens are issued. Trading for WCXT on WCX will start a few weeks after the ICO begins.

4. Same as above.

5. Same as above.

6. Yes, WCX account creation is anonymous.

WCX - 0-fee crypto margin trading https://wcex.com
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