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Author Topic: [ANN][ICO] WCX – Digital currency exchange built by ex Apple engineers  (Read 174652 times)
sud
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August 05, 2017, 07:54:45 PM
 #981

Read above I already answered. In exchange like WCX team members hold private key, so there is security risk in revealing ID. In Tezos ICO etc there is no risk for team members.

Where are they holding those priv keys? In their pockets? And someone will track and rob them? Lets be real please...

I just hope the devs will disclose the team before ICO starts like they promised.
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August 05, 2017, 07:58:52 PM
 #982

If your developing an exchange it's of paramount importance that you identify your self and team with pictures and full names. Website looks thrown up pretty quickly and the white paper is mostly graphs. I hope the finished project has more care in it's development.

Disagree. Revealing IDs puts funds at risk. There are it seems more cons to revealing them than pros. Although I don't know if and when they will reveal them, it may be more cautious not to.

I think whitepaper and site are very well developed. Simple and they achieve what they need. The most important number is the number of signups which is 185,000 which proves what they're doing is working very well. Whitepaper is simple and to the point IMO and can be understood by everyone. No need for fluff where it doesnt need to be there.

Please enlighten us about these pros and cons you speak of. I love anonymous people in an unknown location handling my money.

Already answered this in previous posts.

pros = no security risk, anonymous private key holders mean your funds won't be targeted by potential kidnappings, threats against private key holders, etc.

How exactly does revealing identities help you in any way.

How did that help all the people who had money on Mt Gox? All the owners were known and the exchange went under and bankrupt and people lost money.

How did that help Bitfinex when they got hacked for $200M? Again all the owners were known.

There's not much upside to revealing who holds the private keys, it's mostly all downside. This is understandable from security perspective (I work in bank IT security). I think it's very smart decision to keep it hidden if they decide to do so.

Sure let them reveal some team members but don't make public known to everyone who holds the private keys, that would be fucking stupid. Look at poloniex they are largest crypto exchange by volume and owners are not known!! And not one single security breach. It's a smart choice.

Second, as you trade on ANY exchange, don't keep funds there all the time, this is just common sense. It's not a wallet. you deposit, you trade, you withdraw. very low risk in this case and knowing private key holders makes very little difference.

Third, WCX is compliant according to whitepaper. That is easily verifiable when they launch and which countries they serve. That means due diligence, etc. has been made by many parties, perhaps even governments, vendors, etc. and owners were revealed to them. They are just not publicizing - again, smart decision I think.

Where are they holding those priv keys? In their pockets? And someone will track and rob them? Lets be real please...

I just hope the devs will disclose the team before ICO starts like they promised.

Doesn't have to be in pocket, can be anywhere as long as location is known and that would make it a real risk. Also they will need access to cold storage from time to time to refill hot wallets I presume like every other exchange. So it's not gonna be in a mountain vault somewhere. Cryptocurrency is like a stash of cash.
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August 05, 2017, 08:25:13 PM
Last edit: August 05, 2017, 09:09:18 PM by JoshuaT
 #983

Read above I already answered. In exchange like WCX team members hold private key, so there is security risk in revealing ID. In Tezos ICO etc there is no risk for team members.

Does poloniex, Kraken, and other big exchanges have secret unnamed officers/devs (leadership with access to private keys?) and no safetey/security protocols other than not publicly naming the leadership with access?  Like thieves couldn't easily figure that out? "Hmm, who's there that isn't publicly listed..."

You say poloniex owners are not known.  Are the owners the ONLY ones with access to funds?  Really?  (also, they look to be having solvency problems, so yeah, it's good to be unknown'.)

Or, is what you're telling us is that WCX, that wants to do daily volume of $1B and more, has no security/saftey system in place and just hopes that those few unnamed guys lurking around the office (that everybody that works there knows) don't get mugged (or have heart attacks) at which point WCX loses billions of dollars worth of coins?

That's a terrible, terrible system if that's what you're arguing for.
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August 05, 2017, 09:13:48 PM
 #984

Read above I already answered. In exchange like WCX team members hold private key, so there is security risk in revealing ID. In Tezos ICO etc there is no risk for team members.

Does poloniex, Kraken, and other big exchanges have secret unnamed officers/devs (leadership with access to private keys?) and no safetey/security protocols other than not publicly naming the leadership with access?  Like thieves couldn't easily figure that out? "Hmm, who's there that isn't publicly listed..."

You say poloniex owners are not known.  Are the owners the ONLY ones with access to funds?  Really?  (also, they look to be having solvency problems, so yeah, it's good to be unknown'.)

Or, is what you're telling us is that WCX, that wants to do daily volume of $1B and more, has no security/saftey system in place and just hopes that those few unnamed guys lurking around the office (that everybody that works there knows) don't get mugged (or have heart attacks) at which point WCX loses billions of dollars worth of coins?

That's a terrible, terrible system if that's what you're arguing for.


Good so you agree they shouldn't reveal private key owners... It would indeed be fucking stupid. Yes Poloniex owners and leadership etc are not known, in fact nobody at Poloniex is known. I'm not saying WCX has to not reveal anyone, they can reveal parts of their team with no access to customer funds as I said in previous post...

BUT that needs to be controlled as well because bad actors with knowledge of team/residences of team members can use those to get to private key holders, which again puts customer funds in danger. WCX wants to go very big, global exchange, security should be at forefront of their priorities, from the start. If they wanna do it right and be a big player on the long term. Security is tough tough business Smiley WCX on the right path so far IMO.
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August 05, 2017, 09:19:02 PM
 #985


Good so you agree they shouldn't reveal private key owners...

If you're not going to actually read what I said, no need to respond.
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August 05, 2017, 09:20:38 PM
 #986

Read above I already answered. In exchange like WCX team members hold private key, so there is security risk in revealing ID. In Tezos ICO etc there is no risk for team members.

Does poloniex, Kraken, and other big exchanges have secret unnamed officers/devs (leadership with access to private keys?) and no safetey/security protocols other than not publicly naming the leadership with access?  Like thieves couldn't easily figure that out? "Hmm, who's there that isn't publicly listed..."

You say poloniex owners are not known.  Are the owners the ONLY ones with access to funds?  Really?  (also, they look to be having solvency problems, so yeah, it's good to be unknown'.)

Or, is what you're telling us is that WCX, that wants to do daily volume of $1B and more, has no security/saftey system in place and just hopes that those few unnamed guys lurking around the office (that everybody that works there knows) don't get mugged (or have heart attacks) at which point WCX loses billions of dollars worth of coins?

That's a terrible, terrible system if that's what you're arguing for.


Good so you agree they shouldn't reveal private key owners... It would indeed be fucking stupid. Yes Poloniex owners and leadership etc are not known, in fact nobody at Poloniex is known. I'm not saying WCX has to not reveal anyone, they can reveal parts of their team with no access to customer funds as I said in previous post.

The thing is we don't want or need to know who is holding private keys. We just want to know the team that is making the WCX exchange and their experience, past projects, what they have done before WCX etc. Like any investor before handing out the money.
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August 05, 2017, 09:24:53 PM
 #987

Read above I already answered. In exchange like WCX team members hold private key, so there is security risk in revealing ID. In Tezos ICO etc there is no risk for team members.

Does poloniex, Kraken, and other big exchanges have secret unnamed officers/devs (leadership with access to private keys?) and no safetey/security protocols other than not publicly naming the leadership with access?  Like thieves couldn't easily figure that out? "Hmm, who's there that isn't publicly listed..."

You say poloniex owners are not known.  Are the owners the ONLY ones with access to funds?  Really?  (also, they look to be having solvency problems, so yeah, it's good to be unknown'.)

Or, is what you're telling us is that WCX, that wants to do daily volume of $1B and more, has no security/saftey system in place and just hopes that those few unnamed guys lurking around the office (that everybody that works there knows) don't get mugged (or have heart attacks) at which point WCX loses billions of dollars worth of coins?

That's a terrible, terrible system if that's what you're arguing for.


Good so you agree they shouldn't reveal private key owners... It would indeed be fucking stupid. Yes Poloniex owners and leadership etc are not known, in fact nobody at Poloniex is known. I'm not saying WCX has to not reveal anyone, they can reveal parts of their team with no access to customer funds as I said in previous post.

The thing is we don't want or need to know who is holding private keys. We just want to know the team that is making the WCX exchange and their experience, past projects, what they have done before WCX etc. Like any investor before handing out the money.

As I explained before I think that would be really big security risk to reveal that, especially if they want to be global player long term, but I don't know maybe they will. In any case since the exchange will be ready before the ICO, so we can have the product, customers, traction, etc. to judge if you want to buy more into ICO.
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August 05, 2017, 10:38:02 PM
 #988

Read above I already answered. In exchange like WCX team members hold private key, so there is security risk in revealing ID. In Tezos ICO etc there is no risk for team members.

Does poloniex, Kraken, and other big exchanges have secret unnamed officers/devs (leadership with access to private keys?) and no safetey/security protocols other than not publicly naming the leadership with access?  Like thieves couldn't easily figure that out? "Hmm, who's there that isn't publicly listed..."

You say poloniex owners are not known.  Are the owners the ONLY ones with access to funds?  Really?  (also, they look to be having solvency problems, so yeah, it's good to be unknown'.)

Or, is what you're telling us is that WCX, that wants to do daily volume of $1B and more, has no security/saftey system in place and just hopes that those few unnamed guys lurking around the office (that everybody that works there knows) don't get mugged (or have heart attacks) at which point WCX loses billions of dollars worth of coins?

That's a terrible, terrible system if that's what you're arguing for.


Good so you agree they shouldn't reveal private key owners... It would indeed be fucking stupid. Yes Poloniex owners and leadership etc are not known, in fact nobody at Poloniex is known. I'm not saying WCX has to not reveal anyone, they can reveal parts of their team with no access to customer funds as I said in previous post.

The thing is we don't want or need to know who is holding private keys. We just want to know the team that is making the WCX exchange and their experience, past projects, what they have done before WCX etc. Like any investor before handing out the money.


Exactly sud

@polkacoin the owner of poloniex is known and they are based in the United States. For not knowing this your spam to me now

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August 05, 2017, 11:06:16 PM
 #989

@polkacoin the owner of poloniex is known and they are based in the United States. For not knowing this your spam to me now

Haha you actually believe Poloniex owner is that piano player Tristan? Based on his "linkedin" he is a 7 year piano player, 0 experience in developing software, or any expertise in security. Those piano skills sure have helped him run an exchange.

Sure based in the US, ever been to their headquarters? Address? You've played yourself. They're smart keeping things under wraps TBH. It works so far, they are largest exchange and never had a breach.

Obscurity plays a huge part in security.
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August 06, 2017, 06:33:24 AM
 #990

Update: Only 10 spots left for the WCX Beta Program (English). If you still haven't reserved a spot, you can do so here.
Notin2
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August 06, 2017, 07:30:34 AM
 #991

Read above I already answered. In exchange like WCX team members hold private key, so there is security risk in revealing ID. In Tezos ICO etc there is no risk for team members.

Does poloniex, Kraken, and other big exchanges have secret unnamed officers/devs (leadership with access to private keys?) and no safetey/security protocols other than not publicly naming the leadership with access?  Like thieves couldn't easily figure that out? "Hmm, who's there that isn't publicly listed..."

You say poloniex owners are not known.  Are the owners the ONLY ones with access to funds?  Really?  (also, they look to be having solvency problems, so yeah, it's good to be unknown'.)

Or, is what you're telling us is that WCX, that wants to do daily volume of $1B and more, has no security/saftey system in place and just hopes that those few unnamed guys lurking around the office (that everybody that works there knows) don't get mugged (or have heart attacks) at which point WCX loses billions of dollars worth of coins?

That's a terrible, terrible system if that's what you're arguing for.


Good so you agree they shouldn't reveal private key owners... It would indeed be fucking stupid. Yes Poloniex owners and leadership etc are not known, in fact nobody at Poloniex is known. I'm not saying WCX has to not reveal anyone, they can reveal parts of their team with no access to customer funds as I said in previous post.

The thing is we don't want or need to know who is holding private keys. We just want to know the team that is making the WCX exchange and their experience, past projects, what they have done before WCX etc. Like any investor before handing out the money.

Yeah i think this is totaly right, i mean knowing the team behind development of wcx exchange does not necessary void any security measure especially those without private keys. As much as protecting the security of investment so also investors are cautious not throw money into bad investment. Just saying.

PS:- really want this project to worth my investment.
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August 06, 2017, 09:14:57 AM
 #992

Update: Only 10 spots left for the WCX Beta Program (English). If you still haven't reserved a spot, you can do so here.

there is no airdrop or special bounty if i participate in the beta programm? just testing the exchange, huh?
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August 06, 2017, 09:18:19 AM
 #993

Read the news pieces and all looks quite good but it would be better if the teams identities were displayed on the OP

Also what is the pre-ICO price per token?

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August 06, 2017, 10:35:24 AM
 #994

nvm
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August 06, 2017, 10:44:01 AM
 #995

Update: Only 10 spots left for the WCX Beta Program (English). If you still haven't reserved a spot, you can do so here.

I just registered for the WCX Beta Program. I can't wait to test out the system. I hope it is pretty easy to navigate.

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August 06, 2017, 12:10:29 PM
 #996

Is somewhere clearly information about receiving tokens from Sign Up Promotion? When exactly we can receive it?

Besides Sign Up Promotion developers planning to do some more Bounties?
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August 06, 2017, 01:30:32 PM
 #997

Password reset is broken  Sad When I click on 'Send Password Reset Email', it says 'Email is invalid.'.
When I try to register again with the same e-mail address, it says that the e-mail address already exists.
Please advise.

Please contact hello@wcex.co for assistance.

---

Thank you all for your continued support! Here are some updates:

→ The whitepaper will soon be available in 12 languages, including Russian. They are set to be published on the site within the next day or so. If you want to help translate it into your language, you can join our translation project here.

→ Spots for Pre-ICO bulk buying (15% discount) of WCX Tokens are flying fast. Almost $2.5M already committed! If you still haven't reserved and are planning to buy 250,000 WCXT or more, you can do so here.

→ Spots for the WCX Beta Program are also flying fast. Available spots for English are 90% full, Russian 75% full, and Vietnamese 70% full. You can apply to join the Beta Program here to get early access to WCX.


I have just tried it again. Seems that this issue is fixed now. I was finally able to reset my password. Thanks!
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August 06, 2017, 02:21:24 PM
 #998

nvm


Do mind, please do mind. What did you find?
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August 06, 2017, 03:24:31 PM
 #999

I like this and totally believe  that world need  such project.
Will donate before ICO.
Participate in bounty WCX.

 Roll Eyes
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August 06, 2017, 03:29:23 PM
 #1000

when bounties are going to be released ? any specific day for that. WCX idea is good but only i can participate in bounties system no enough money for ICO . 

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