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Author Topic: [ANN][ICO] LakeBanker | Free Banking for the World  (Read 13723 times)
LakeBTC
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August 25, 2017, 04:37:29 AM
 #261

there is a more question, why do you set a difference sale between phase 1 and phase 2? it is easier to dump if put all eggs in one packet

We are issuing a small number of tokens in Phase 1 before the major sale in Phase 2. Phase 1 is a simple fixed price sale where tokens are sold at a discount. In return, we would like to use Phase 1 to:

• Gather feedback from the community.
• Collaborate with early participants.
• Improve documents, and other marketing materials.
• Generate more media coverage and community involvement.
• Acquire more consultation from professional services, including tax and legal counsels.

I used LakeBTC once, with withdraw by LakeBanker, it seems that spend a longer time than usual, how do you think it would be better when LakeBanker is spinoff from LakeBTC? and are there difference features between the current version which you called Beta-Version and the upcoming new version?

The LakeBanker system is currently in Beta. Full details are in our whitepaper. We currently have a network of around 2000 Lakebankers globally. Still it can take the system some time to find appropriate matches within the p2p network to facilitate withdrawals. When we expand the system after our tokensale, the number of LakeBankers will grow exponentially and users will get excellent liquidity. Again, more details of our plans for exponential growth are in our whitepaper.


LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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August 26, 2017, 06:13:18 PM
 #262

Usually when choosing an investment I always see the initial achievement when ico is opened when many people invest then I will also buy in ico
Well where can we monitor the achievement of ico? Is there an address provided so we can monitor it?

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MsCollec
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August 27, 2017, 12:57:01 AM
 #263

Usually when choosing an investment I always see the initial achievement when ico is opened when many people invest then I will also buy in ico
Well where can we monitor the achievement of ico? Is there an address provided so we can monitor it?


I also want to know how much they raised so far, it would be like to see the progress of the ico and I also want to know how fund lake team are investing themselves.
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August 27, 2017, 01:01:10 AM
 #264

Usually when choosing an investment I always see the initial achievement when ico is opened when many people invest then I will also buy in ico
Well where can we monitor the achievement of ico? Is there an address provided so we can monitor it?


The cap for Phase 1 is so small we're not going to provide monitoring. For Phase one it's possible to participate NOW. We did this to avoid users missing out because of last minute technical problems or network congestion. It's possible we will sell out long before the official start time of 9/15 3pm UTC. If we're oversold we'll allocate tokens pro rata. So there's no reason to wait if you're interested in getting our token. Users that "wait and see" are likely to miss out for Phase 1.

As you know the current price is 1 ETH = 1300 BAC, while in Phase 2 our auction starts with 1 ETH = 100 BAC. If the Phase 2 auction closes at that price, Phase 1 participants make 13x profit.

For Phase 2, where we sell most of our tokens, we will provide monitoring of the progress of the auction. Phase two will be held in mid-October.




LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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August 27, 2017, 01:46:50 AM
 #265

Usually when choosing an investment I always see the initial achievement when ico is opened when many people invest then I will also buy in ico
Well where can we monitor the achievement of ico? Is there an address provided so we can monitor it?


I also want to know how much they raised so far, it would be like to see the progress of the ico and I also want to know how fund lake team are investing themselves.

On the first question, see the above answer: we're expecting Phase 1 to sell out quickly but if we oversell tokens will be allocated pro rata. LakeBTC has ten million user accounts. We have very many pro-traders investing with us. A lot of the demand for tokens in Phase one is coming from guys like that.

As to your second question, I'm not quite sure what you mean. 25% of the tokens are allocated to the team, but we subject ourselves to a long 5-year vesting schedule in which team members can only trade 20% of their tokens each year. This demonstrates our long term commitment to the project.

Our CSO wrote an article about team token allocation comparing us with some other successful ICOs. You can check it out here: https://medium.com/@andrew.mccarthy/ico-distribution-models-team-tokens-a866641e579

LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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August 28, 2017, 02:04:18 AM
 #266

Investment is coming in for Phase 1 of our token sale. Right now our investors are of a few different types:

1. Pro-traders who see the chance of making 1300% profit. Right now the Phase 1 price is 1 ETH = 1300 BAC. At the beginning of Phase 2 the price will be 1 ETH = 100 BAC. If Phase 2 sells out in the first hour, people who bought in Phase 1 will make 1300% profit.

2. Long term investors who recognise the strength of our business model and the potential of our token to circulate amongst millions of people in the long run. They see long term value in holding BAC tokens.

3. Idealists who recognise the banking sector needs to change. It leaves billions of The world's  people behind. These investors want to be part of changing the world for the better with us.

4. Participants in the beta of the LakeBanker system. These guys have been working with us to develop the system in beta for 1.5 years. They're already working as Lakebankers. With them we have improved the system and streamlined our processes. Now the system is ready for the world. These  guys want to be part of the coming expansion.

So there are lots of reasons people are investing with us. But the phase one cap is very small. Just 2% of our total token supply. Early participation is recommended to avoid missing out.
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August 28, 2017, 03:36:38 AM
 #267

What is the conversion rate for BTC to ETH/BAC
LakeBTC
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August 28, 2017, 06:04:14 AM
 #268

The price of BAC is stated in term of ETH. Current price is 1 ETH = 1300 BAC. This is the best price anyone will ever get.

The BTC to ETH exchange rate will be determined by the weighted average market rate on 15th September 2017 3pm UTC. See https://coinmarketcap.com/currencies/ethereum/#BTC

LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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August 28, 2017, 06:24:31 AM
 #269

if you need ,reserved the Chinese translation

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August 28, 2017, 06:41:06 AM
 #270

Portfolio/Experience/previous translations links :
Ann thread:
https://bitcointalk.org/index.php?topic=2090936.msg20887037#msg20887037
https://bitcointalk.org/index.php?topic=2075235.msg20733405#msg20733405
whitepaper:
https://drive.google.com/open?id=0ByApryHvYSpQUWVubkpDVWJTNEk
PM me if you need the Chinese translation..

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August 28, 2017, 07:35:40 AM
 #271

The price of BAC is stated in term of ETH. Current price is 1 ETH = 1300 BAC. This is the best price anyone will ever get.

The BTC to ETH exchange rate will be determined by the weighted average market rate on 15th September 2015 3pm UTC. See https://coinmarketcap.com/currencies/ethereum/#BTC

Okay, I will just convert it myself. Thanks
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August 28, 2017, 07:53:45 AM
 #272


Thanks for that. Chinese translation is now completed and is available here

LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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August 28, 2017, 08:06:58 AM
 #273

Usually when choosing an investment I always see the initial achievement when ico is opened when many people invest then I will also buy in ico
Well where can we monitor the achievement of ico? Is there an address provided so we can monitor it?


I also want to know how much they raised so far, it would be like to see the progress of the ico and I also want to know how fund lake team are investing themselves.

this is an interesting question, will keep focus on this.

/done/.
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August 28, 2017, 08:12:38 AM
 #274

well, I am just trying to understand how this whole system would work. Is this similar to PayPal or AdvCash? I mean how different is this from these providers in the market other than the fact that transfer within the system and to merchants are free.

Who is this LakeBanker? Is he/she the person to whom we send our currency to top up out Lake account?

can you answer this in a layman's term please?

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August 28, 2017, 01:49:33 PM
 #275

Free banker,Not governments? Oh,more idealized project, good, have signed  up Bitcointalk Signature campaign and Avatar,good luck!

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August 28, 2017, 11:07:50 PM
 #276

Usually when choosing an investment I always see the initial achievement when ico is opened when many people invest then I will also buy in ico
Well where can we monitor the achievement of ico? Is there an address provided so we can monitor it?


I also want to know how much they raised so far, it would be like to see the progress of the ico and I also want to know how fund lake team are investing themselves.

this is an interesting question, will keep focus on this.

We answered this question a couple of posts up. Thanks.
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August 29, 2017, 01:41:11 AM
 #277

well, I am just trying to understand how this whole system would work. Is this similar to PayPal or AdvCash? I mean how different is this from these providers in the market other than the fact that transfer within the system and to merchants are free.

can you answer this in a layman's term please?

(1) The fact that all transactions in the system are free (include user-to-user and user-to-merchant) is a really big difference. Paypal, Western Union, Bank Wires, VISA, Mastercard all charge heavy fees. Our whitepaper has some data on this. Our interface with LakeBTC.com also means we can offer currency exchange, including cryptocurrencies, with excellent liquidity and the best rates. Can Paypal do that?

(2) We are more than just a payment network. Our Crowd-Banking model gives us exceptional risk-management. This means when our Free Banking options attract millions of users, we can offer them a rich ecosystem of financial services such as credit lines, p2p lending, insurance etc. Our risk-adjusted returns from these services will be very high.

LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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August 29, 2017, 01:54:50 AM
 #278

Free banker,Not governments? Oh,more idealized project, good, have signed  up Bitcointalk Signature campaign and Avatar,good luck!

Thanks. Not sure what your question about governments is? Could you restate the question?

LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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August 29, 2017, 02:13:28 AM
 #279

The price of our token BAC in Phase 1 is 1 ETH = 1300 BAC. Only 2% of the total tokens are available at this price. Investment is already coming in long before the official start of Phase 1 on 9/15.

We recommend participating now to avoid missing out. If we oversell before the 9/15 3pm UTC we will allocate tokens pro rata so everyone can enjoy this low Phase 1 price. After that time, it will be first come first served.

LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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August 29, 2017, 02:28:52 AM
 #280

Massively Reduced Operational Overhead

On advantage of the LakeBanker system is that we can provide banking services with MUCH lower costs than traditional banks. Our Crowd-Banking model means that we have no high street branches, few employees, no large corporate offices and no ATM machines. Instead, we leverage the potential of existing personnel and infrastructure outside our core organisation. If a traditional bank wishes to expand its supply in a given location, they need to build a new branch, hire many employees and so on. In contrast, we expand supply just by having more users install our app. As a result, our marginal cost of supply falls exponentially and approaches zero:



Here is a comparative example:

A user in Hong Kong wishes to make a cash deposit into his regular bank account. This is done in branch. Real estate in Hong Kong is expensive—- over $2000 per square foot per annum in those prime areas where high street branches need to be. Assuming a modest sized 2000 square foot branch, the user deposits his money in a building which costs the bank $4 million dollars per year.

The same user, in the same part of Hong Kong wishes to deposit money into the LakeBanker system. He pushes a button on our app; Sage determines optimised matches and the app transmits the request to nearby LakeBankers. Within seconds the request is accepted. For the sake of the example, imagine the LakeBanker here is a nearby convenience store. The user walks to the store and hands over his money. The clerk presses a button on our app and the user’s account is credited with the appropriate amount. The cost to us of accepting the deposit is close to zero.

LakeBanker is bringing finance into the zero marginal cost economy

LakeBanker: Free Banking for the World     LakeBanker.com   Token Sale. Participate Now!
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