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Author Topic: [ANN][ICO] WCX – Digital currency exchange built by ex Apple engineers  (Read 174311 times)
penoze
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July 30, 2017, 05:29:00 PM
 #721

Hi all. Rewards for Twitter follow, coin voting, content promotion, and ANN thread translations are being paid to your WCX account in the next couple of hours!

Why is the domain wcex but the name of the site and tokens are wcx, and when it will be WCT on the exchange(s)?


WCT will be available to trade after the ICO ends (likely within 7 days).

Is WCEX going to create coins after the ICO?  Tokens for sale during ICO and then any remainders burnt....but is WCEX then going to create coins?

If so, will they act as tokens (and if so, wouldn't that lower the dividend value?)


No WCT will ever be created after the ICO. Unsold coins at the ICO are burned and whatever is left will be the total supply of WCT.



Do you mean WCX? See you talking about WCT  Cheesy.

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July 30, 2017, 05:41:00 PM
 #722

Hi all. Rewards for Twitter follow, coin voting, content promotion, and ANN thread translations are being paid to your WCX account in the next couple of hours!

Why is the domain wcex but the name of the site and tokens are wcx, and when it will be WCT on the exchange(s)?


WCT will be available to trade after the ICO ends (likely within 7 days).

Is WCEX going to create coins after the ICO?  Tokens for sale during ICO and then any remainders burnt....but is WCEX then going to create coins?

If so, will they act as tokens (and if so, wouldn't that lower the dividend value?)


No WCT will ever be created after the ICO. Unsold coins at the ICO are burned and whatever is left will be the total supply of WCT.



Do you mean WCX? See you talking about WCT  Cheesy.

WCT is the exchange symbol for WCX Token. Smiley

WCX - 0-fee crypto margin trading https://wcex.com
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July 30, 2017, 05:55:10 PM
 #723

Hi

Do you still need help with the translation?  I would be than happy to help out with Thai translation if needed.

Thank you.
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July 30, 2017, 06:03:28 PM
 #724

Hi

Do you still need help with the translation?  I would be than happy to help out with Thai translation if needed.

Thank you.

Yes, please join our translation project here and select Thai to get started: https://poeditor.com/join/project/MAgUist4Tv

Translations are rewarded up to 1000 WCT in bounty.

WCX - 0-fee crypto margin trading https://wcex.com
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July 30, 2017, 06:05:36 PM
 #725


4. Our value proposition is: Tiny Fees + Incredible Service. We have great customer support reps and we're actually hiring more - we have around 30 positions open across many different languages. If you're interested, skilled, and have customer support experience, please drop us a line hello@wcex.co.

I'm glad you're hiring more.  You'll need more.  A lot more.  The big complaint vs. exchanges is slow/crappy customer service.  I hope the whitepaper lays out how you're going to overhire so you'll be more than ready for awesome and fast customer service during growth.

5. This information will be released over time. Since this is a private key based business, it may be wise to keep some identities anonymous in the interest of security of customer funds and member personal safety.

I'll await the whitepaper.  Not naming names is a credibility killer. 

6. The market is currently around $3B per day in trading volume. Forex for example is $5T per day. That's a 1000x opportunity for growth. We think we're just getting started.

Forex isn't comparable, I'm a little concerned you're using that as a basis for growth/volume predictions/expectations.

I'll wait for the whitepaper and hope it lays out how you're going to beat the other active exchanges and grow larger than the current #1 volume exchange.

How exactly are you going to grow to $1b/day volume?



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July 30, 2017, 06:12:13 PM
 #726

Hi WCX team,

Well, congratulations on everything you are doing and I wish you and all shareholders (including myself) huge success.

As others have said, dimensioning a crypto currency platform to be capable of handling millions of transactions a second is a huge undertaking.  I have questions on this.  WCX will be trading BITCOIN, ETHERIUM and mostr other popular blockchain currencies.  Now, BITCOIN has some serious dimensioning problems in its own right.  The transaction history is never archived, so every BITCOIN gets bigger and bigger and slower and slower.  The press have reported backlogs in BITCOIN transactions amounting to more than 165,000 transactions with no confirmation, and it is growing, not getting less!

http://www.newsbtc.com/2017/05/12/bitcoin-network-backlog-grows-165000-unconfirmed-transactions/

My question are these:  when BITCOIN transactions are made on WCX, who will confirm the transaction and process the BITCOIN chain?  Will this be done by the WCX platform itself, or will the BITCOIN that are traded by WCX just join the ever growing global queue (and growing backlog) to be processed by a distributed server somewhere else?  And if WCX servers will be able to process the BITCOIN transactions directly, then is it possible that the WCX platform could also be used to process and reduce the global backlog?  And if so, how will WCX earn money by doing the work of other traders for them?

Thanks a lot,
RobZorba

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July 30, 2017, 06:16:42 PM
 #727


4. Our value proposition is: Tiny Fees + Incredible Service. We have great customer support reps and we're actually hiring more - we have around 30 positions open across many different languages. If you're interested, skilled, and have customer support experience, please drop us a line hello@wcex.co.

I'm glad you're hiring more.  You'll need more.  A lot more.  The big complaint vs. exchanges is slow/crappy customer service.  I hope the whitepaper lays out how you're going to overhire so you'll be more than ready for awesome and fast customer service during growth.

5. This information will be released over time. Since this is a private key based business, it may be wise to keep some identities anonymous in the interest of security of customer funds and member personal safety.

I'll await the whitepaper.  Not naming names is a credibility killer.  

6. The market is currently around $3B per day in trading volume. Forex for example is $5T per day. That's a 1000x opportunity for growth. We think we're just getting started.

Forex isn't comparable, I'm a little concerned you're using that as a basis for growth/volume predictions/expectations.

I'll wait for the whitepaper and hope it lays out how you're going to beat the other active exchanges and grow larger than the current #1 volume exchange.

How exactly are you going to grow to $1b/day volume?



FX is a market example. There are many others. Take stock trading: $100B per day on Nasdaq (one exchange in one country). http://www.nasdaqtrader.com/Trader.aspx?id=DailyMarketSummary. We believe there is quite a bit of room for growth.

Concerning security, along with customer satisfaction, it's our top priority. We will heed the advice of the security people on our team.

Our customer support is scalable, and will scale based on demand. We'd like to get as many languages as possible on the team, up to Tier 4 if necessary.

More information in the whitepaper coming soon.

WCX - 0-fee crypto margin trading https://wcex.com
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July 30, 2017, 06:23:25 PM
 #728


FX is a market example. There are many others. Take stock trading: $100B per day on Nasdaq (one exchange in one country). http://www.nasdaqtrader.com/Trader.aspx?id=DailyMarketSummary. We believe there is quite a bit of room for growth.

Sure FX is an example of a market.  And the Nasdaq is an example of a market.

The sizes of which have zero to do with the cryptocurrency market.  Meaning, the Nascaq doing $110B/day has ZERO relevence to WCEX's ability to do $1/day volume.  That Nasdaq does $100B/day in now way means that WCEX can grow to any particular amount.

I will look to the white paper and hope to see the plan/roadmap, and hope not to see "WCEX will grow to $2B/day volume because tons of people trade in the stock market every day."  That is not a valid justification for growth.


I'm not trying to be sassy, I'm just wanting to know, as a potential investor/participant, how WCEX plans to grow to $1B/day volume, as that's where the token dividends start being a little bit attractive.
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July 30, 2017, 06:26:34 PM
 #729

A question to devs. You say that inless users want do deal with fiat currencies (at later stage) no ID will be required. However, since 2013 (I think) US authorities (not SEC but something similar, sorry I can't remember exact governing body name) set certain rules that most crypto exchanges are obliging to, one of them is ID verification. If you study charges pressed against Mr. Vinnik this one comes first - running an unauthorised monetary exchange. I read an extensive article on the subject yesterday in my news feed and it was basically saying that if you provide ANY exchange services to US citizens you're obliged to comply with their rules, otherwise you might as well end up being arrested. Sure we can keep saying that digital currencies aren't money etc etc but it looks like this doesn't fly anymore in the eyes of US authorities (which are well known for trying to confiscate everything they can't control). So my question is - how are you guys planning to deal with the legal side of things from this point of view? Not revealing founders names (just an example) won't fly at ICO, going this way you'll end up in gray/black markets, not as an established 100% legal exchange.
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July 30, 2017, 06:45:05 PM
 #730

A question to devs. You say that inless users want do deal with fiat currencies (at later stage) no ID will be required. However, since 2013 (I think) US authorities (not SEC but something similar, sorry I can't remember exact governing body name) set certain rules that most crypto exchanges are obliging to, one of them is ID verification. If you study charges pressed against Mr. Vinnik this one comes first - running an unauthorised monetary exchange. I read an extensive article on the subject yesterday in my news feed and it was basically saying that if you provide ANY exchange services to US citizens you're obliged to comply with their rules, otherwise you might as well end up being arrested. Sure we can keep saying that digital currencies aren't money etc etc but it looks like this doesn't fly anymore in the eyes of US authorities (which are well known for trying to confiscate everything they can't control). So my question is - how are you guys planning to deal with the legal side of things from this point of view? Not revealing founders names (just an example) won't fly at ICO, going this way you'll end up in gray/black markets, not as an established 100% legal exchange.

WCX is not specifically targeting the US - it's a global exchange. That being said, WCX will comply will all laws and regulations of the jurisdictions that it serves, and in jurisdictions where those regulations are not entirely clear (digital currency regulation is still a work in progress in many part of the world), we'll proactively reach out for guidance. That may indeed mean refusing to serve or imposing trading limits for customers in certain jurisdictions.

In short, WCX is a fully ethical and compliant exchange. If you're planning on using WCX for money laundering, tax evasion, or any other sort of illegal activity, you're gonna have a bad time.

Also to keep in mind that if you're planning on using fiat later in 2018 when that integration is planned to go live, KYC will be required regardless of the jurisdiction you reside in.

WCX - 0-fee crypto margin trading https://wcex.com
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July 30, 2017, 06:53:05 PM
 #731

who's behind this? There's no team, nothing.

sounds like this is only a setup to data mine emails.


Don't post FUD. please take the time to read the thread, engage with WCX by Twitter or email if you want more info. at this point many of us have WCX tokens and you're doing everyone a disservice posting negative / unsubstantiated things like this

They are paying in the next few hours , just ask by email or Twitter. If you actually did a translation or followed on Twitter.

you claim

Quote
Team. Comes from Apple, IBM, Deutsche Bank, and has a lot of experience building scalable services.

but without any proof whatsoever. I call bullshit.

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July 30, 2017, 06:54:40 PM
 #732

who's behind this? There's no team, nothing.

sounds like this is only a setup to data mine emails.


Don't post FUD. please take the time to read the thread, engage with WCX by Twitter or email if you want more info. at this point many of us have WCX tokens and you're doing everyone a disservice posting negative / unsubstantiated things like this

They are paying in the next few hours , just ask by email or Twitter. If you actually did a translation or followed on Twitter.

you claim

Quote
Team. Comes from Apple, IBM, Deutsche Bank, and has a lot of experience building scalable services.

but without any proof whatsoever. I call bullshit.

I got paid mate. so yeah, no bullshit. btw says guy who's signature is "Is it possible to become crypto's Warren Buffett? Read More" lmfao
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July 30, 2017, 06:55:48 PM
 #733

A question to devs. You say that inless users want do deal with fiat currencies (at later stage) no ID will be required. However, since 2013 (I think) US authorities (not SEC but something similar, sorry I can't remember exact governing body name) set certain rules that most crypto exchanges are obliging to, one of them is ID verification. If you study charges pressed against Mr. Vinnik this one comes first - running an unauthorised monetary exchange. I read an extensive article on the subject yesterday in my news feed and it was basically saying that if you provide ANY exchange services to US citizens you're obliged to comply with their rules, otherwise you might as well end up being arrested. Sure we can keep saying that digital currencies aren't money etc etc but it looks like this doesn't fly anymore in the eyes of US authorities (which are well known for trying to confiscate everything they can't control). So my question is - how are you guys planning to deal with the legal side of things from this point of view? Not revealing founders names (just an example) won't fly at ICO, going this way you'll end up in gray/black markets, not as an established 100% legal exchange.

WCX is not specifically targeting the US - it's a global exchange. That being said, WCX will comply will all laws and regulations of the jurisdictions that it serves, and in jurisdictions where those regulations are not entirely clear (digital currency regulation is still a work in progress in many part of the world), we'll proactively reach out for guidance. That may indeed mean refusing to serve or imposing trading limits for customers in certain jurisdictions.

In short, WCX is a fully ethical and compliant exchange. If you're planning on using WCX for money laundering, tax evasion, or any other sort of illegal activity, you're gonna have a bad time.

Also to keep in mind that if you're planning on using fiat later in 2018 when that integration is planned to go live, KYC will be required regardless of the jurisdiction you reside in.

I perfectly understand that you're not targeting US. Not that I care - I'm not US national myself. However, my point is - if you do not oblige your future users to confirm they are not US nationals/clearly state that you are not providing any services to US nationals, you're liable to US regulations. It might sound quite ridiculous but that's the way things are for now.
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July 30, 2017, 06:57:38 PM
 #734

A question to devs. You say that inless users want do deal with fiat currencies (at later stage) no ID will be required. However, since 2013 (I think) US authorities (not SEC but something similar, sorry I can't remember exact governing body name) set certain rules that most crypto exchanges are obliging to, one of them is ID verification. If you study charges pressed against Mr. Vinnik this one comes first - running an unauthorised monetary exchange. I read an extensive article on the subject yesterday in my news feed and it was basically saying that if you provide ANY exchange services to US citizens you're obliged to comply with their rules, otherwise you might as well end up being arrested. Sure we can keep saying that digital currencies aren't money etc etc but it looks like this doesn't fly anymore in the eyes of US authorities (which are well known for trying to confiscate everything they can't control). So my question is - how are you guys planning to deal with the legal side of things from this point of view? Not revealing founders names (just an example) won't fly at ICO, going this way you'll end up in gray/black markets, not as an established 100% legal exchange.

WCX is not specifically targeting the US - it's a global exchange. That being said, WCX will comply will all laws and regulations of the jurisdictions that it serves, and in jurisdictions where those regulations are not entirely clear (digital currency regulation is still a work in progress in many part of the world), we'll proactively reach out for guidance. That may indeed mean refusing to serve or imposing trading limits for customers in certain jurisdictions.

In short, WCX is a fully ethical and compliant exchange. If you're planning on using WCX for money laundering, tax evasion, or any other sort of illegal activity, you're gonna have a bad time.

Also to keep in mind that if you're planning on using fiat later in 2018 when that integration is planned to go live, KYC will be required regardless of the jurisdiction you reside in.

I perfectly understand that you're not targeting US. Not that I care - I'm not US national myself. However, my point is - if you do not oblige your future users to confirm they are not US nationals/clearly state that you are not providing any services to US nationals, you're liable to US regulations. It might sound quite ridiculous but that's the way things are for now.

They can just IP check like every other exchange out there. Or make users agree or sign they're not from US like bitfinex does. Nothing new here
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July 30, 2017, 07:12:34 PM
 #735

who's behind this? There's no team, nothing.

sounds like this is only a setup to data mine emails.


Don't post FUD. please take the time to read the thread, engage with WCX by Twitter or email if you want more info. at this point many of us have WCX tokens and you're doing everyone a disservice posting negative / unsubstantiated things like this

They are paying in the next few hours , just ask by email or Twitter. If you actually did a translation or followed on Twitter.

you claim

Quote
Team. Comes from Apple, IBM, Deutsche Bank, and has a lot of experience building scalable services.

but without any proof whatsoever. I call bullshit.

I got paid mate. so yeah, no bullshit. btw says guy who's signature is "Is it possible to become crypto's Warren Buffett? Read More" lmfao

TBH he is right. At the moment it looks like bullshit scam - no team, no whitepaper, only site collecting emails. But I give them a credit of trust and wait for more info. Not everybody will do the same.

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July 30, 2017, 07:17:11 PM
 #736

who's behind this? There's no team, nothing.

sounds like this is only a setup to data mine emails.


Don't post FUD. please take the time to read the thread, engage with WCX by Twitter or email if you want more info. at this point many of us have WCX tokens and you're doing everyone a disservice posting negative / unsubstantiated things like this

They are paying in the next few hours , just ask by email or Twitter. If you actually did a translation or followed on Twitter.

you claim

Quote
Team. Comes from Apple, IBM, Deutsche Bank, and has a lot of experience building scalable services.

but without any proof whatsoever. I call bullshit.

I got paid mate. so yeah, no bullshit. btw says guy who's signature is "Is it possible to become crypto's Warren Buffett? Read More" lmfao

TBH he is right. At the moment it looks like bullshit scam - no team, no whitepaper, only site collecting emails. But I give them a credit of trust and wait for more info. Not everybody will do the same.

If you've been in contact with them through email or Twitter, or getting paid for the jobs, you will know it's legit. but of course its crypto so skepticism is default way I guess.

but don't FUD if no proof other than "i think it's BS". everyone who's been in contact or done jobs with WCX has said good things in this thread. they have timeline and plan and whitepaper next week, so let them act on it
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July 30, 2017, 07:19:51 PM
 #737

who's behind this? There's no team, nothing.

sounds like this is only a setup to data mine emails.


Don't post FUD. please take the time to read the thread, engage with WCX by Twitter or email if you want more info. at this point many of us have WCX tokens and you're doing everyone a disservice posting negative / unsubstantiated things like this

They are paying in the next few hours , just ask by email or Twitter. If you actually did a translation or followed on Twitter.

you claim

Quote
Team. Comes from Apple, IBM, Deutsche Bank, and has a lot of experience building scalable services.

but without any proof whatsoever. I call bullshit.

I got paid mate. so yeah, no bullshit. btw says guy who's signature is "Is it possible to become crypto's Warren Buffett? Read More" lmfao

TBH he is right. At the moment it looks like bullshit scam - no team, no whitepaper, only site collecting emails. But I give them a credit of trust and wait for more info. Not everybody will do the same.

If you've been in contact with them through email or Twitter, or getting paid for the jobs, you will know it's legit. but of course its crypto so skepticism is default way I guess.

Yes, because of so many scams lately in crypto, people tend to be overcautious I guess. I was in contanct with devs, so It gave me more confidence in project.

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penoze
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July 30, 2017, 07:21:02 PM
 #738

Hi all. Rewards for Twitter follow, coin voting, content promotion, and ANN thread translations are being paid to your WCX account in the next couple of hours!

Why is the domain wcex but the name of the site and tokens are wcx, and when it will be WCT on the exchange(s)?


WCT will be available to trade after the ICO ends (likely within 7 days).

Is WCEX going to create coins after the ICO?  Tokens for sale during ICO and then any remainders burnt....but is WCEX then going to create coins?

If so, will they act as tokens (and if so, wouldn't that lower the dividend value?)


No WCT will ever be created after the ICO. Unsold coins at the ICO are burned and whatever is left will be the total supply of WCT.



Do you mean WCX? See you talking about WCT  Cheesy.

WCT is the exchange symbol for WCX Token. Smiley

Just like waves community token?
https://coinmarketcap.com/assets/waves-community-token/

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July 30, 2017, 07:21:26 PM
 #739

who's behind this? There's no team, nothing.

sounds like this is only a setup to data mine emails.


Don't post FUD. please take the time to read the thread, engage with WCX by Twitter or email if you want more info. at this point many of us have WCX tokens and you're doing everyone a disservice posting negative / unsubstantiated things like this

They are paying in the next few hours , just ask by email or Twitter. If you actually did a translation or followed on Twitter.

you claim

Quote
Team. Comes from Apple, IBM, Deutsche Bank, and has a lot of experience building scalable services.

but without any proof whatsoever. I call bullshit.

I got paid mate. so yeah, no bullshit. btw says guy who's signature is "Is it possible to become crypto's Warren Buffett? Read More" lmfao

TBH he is right. At the moment it looks like bullshit scam - no team, no whitepaper, only site collecting emails. But I give them a credit of trust and wait for more info. Not everybody will do the same.
yes you are right no team till now only set of date but it look promising never use your primary email for uncertain sites not in your trust list only use it for trusted only . i also did register for the 50 free WCX .

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July 30, 2017, 07:29:58 PM
 #740

Hi all. Rewards for Twitter follow, coin voting, content promotion, and ANN thread translations are being paid to your WCX account in the next couple of hours!

Why is the domain wcex but the name of the site and tokens are wcx, and when it will be WCT on the exchange(s)?


WCT will be available to trade after the ICO ends (likely within 7 days).

Is WCEX going to create coins after the ICO?  Tokens for sale during ICO and then any remainders burnt....but is WCEX then going to create coins?

If so, will they act as tokens (and if so, wouldn't that lower the dividend value?)


No WCT will ever be created after the ICO. Unsold coins at the ICO are burned and whatever is left will be the total supply of WCT.



Do you mean WCX? See you talking about WCT  Cheesy.

WCT is the exchange symbol for WCX Token. Smiley

Just like waves community token?
https://coinmarketcap.com/assets/waves-community-token/

We'll announce the final exchange symbol for WCX tokens before the ICO.

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