UTRUST

[stormcleric]

I'm a little confused about the dates. I just found out that registered users until yesterday were having a 20% bonus:

https://medium.com/@UTRUST/early-supporter-reward-e9a862208b7f - but I missed that!

I think, especially on Twitter, there are too many information: maybe it's better less tweet with more clear info?

the ICO was open for early investors with a big bonus. not sure I like it, but it's their decision.

Well, it allows whales to invest earlier so that fishies can invest without issues and knowing about the whale backup. Good for big-aimed projects like this one.

[Elkmar]

At first I thought the team was quite young, but after I saw the numbers of person involved and their previous work on LinkedIn.

Seems like they have quite a professional team !

[The Crypto Peasant]

To keen for Utrust at the moment

[bitcoinbulk]

In my opinion the best thing would be to have the protection built-in to the system at a reasonable fee. Presenting the user a choice for buyer protection will add another hurdle to the order process ("Do I want buyer protection? This is taking way too long, I just want to pay.") and it plants a negative thought in the buyer's mind ("So you're saying I could be scammed?")

I understood from WP that the payed amount will be held in escrow for up to several days, depending on the previous performance of the seller. Isn't that a kind of protection for the buyer?

You are right. In fact escrow protects both parties. The seller is assured that the money is available and the buyer is ensured the seller won't get the money without sending the product. But with cryptocurrencies the seller already had the advantage of guaranteed payment, so that point is moot.

Now I wonder why PayPal didn't offer an escrow service, that would have saved sellers a lot of pain and money. There's escrow.com that accepts PayPal as payment, meaning it's technically and legally possible.

The biggest issue I have with escrow.com is their fees. I get that they have to make money, but something like UTRUST can severely cut down on the costs of using an escrow service.

[Rigorous]

That's of course true, but I think people should have the option to choose themself if they want to pay more for protection or not. You also don't want to get an insurence by force, don't you? Of course something can happen, so they always can choose to go the saver way. But for example if you work with someone where you already bought a lot of stuff and who you trust, maybe there is no need to pay the extra fee.

Thanks for explaining. The difference between business and Friends&Family payments was never clear to me. I still think that choice should be removed. Search on the net and look how many confusion it causes, how many trusted the other party and got scammed.

Safe payments for all parties involved at a low fee, that would be the best solution. If you want to send money to a relative without protection, there are other ways.

[Kakumei]

looks good!We need more information about your team as so a big project need a professional development.

https://utrust.io/team

Don't Erc tokens need some gas to move it? Utrust is using ethereum blockchain so there should be some fee for transactions?

Still clarifying but I assume this will still need to be charged to the transaction (i.e. the buyer).

[ufeejingp]

And proportional distribution absolutely fair for all.

[twicezeroiszero]

At first I thought the team was quite young, but after I saw the numbers of person involved and their previous work on LinkedIn.

Seems like they have quite a professional team !

If they are not a professional team, how to make many investors buy all token from pre-sale in one day?
They need prove their project is best place to invest, therefore I do not feel surprised after pre-sale raised hardcap very fast like that.

[cantdecide]

That's of course true, but I think people should have the option to choose themself if they want to pay more for protection or not. You also don't want to get an insurence by force, don't you? Of course something can happen, so they always can choose to go the saver way. But for example if you work with someone where you already bought a lot of stuff and who you trust, maybe there is no need to pay the extra fee.

Thanks for explaining. The difference between business and Friends&Family payments was never clear to me. I still think that choice should be removed. Search on the net and look how many confusion it causes, how many trusted the other party and got scammed.

Safe payments for all parties involved at a low fee, that would be the best solution. If you want to send money to a relative without protection, there are other ways.

Sure, there are other ways. But Paypal is well established and easy to use in my opinion. But it lags some feature which I think UTrust can solve. Of course you can't have all features in one product.

In my opinion the choice of paying fees or not for Paypal is not a bad one. If someone don't know the seller or whoevery, fees and with this the protection is very useful, but my mainproblem for this is that the seller have to pay them. Instead they should be charged from the buyer. Well at least in this special case.

Anyways I am looking forward to the detailed fee exposure the devs wanted to give out.

[alphashotgun]

So only 1% fee, which is a lot lower than paypal and others.
Instantanious conversion to fiat for the merchants !
And burning tokens everytime ..
Wow this is something i'd like to install at some business i know.
Is there a early adopter system ?

so the 1% fee is converted into utrust tokens and burned - and that increases the worth of the existing tokens am i right?

[red4slash]

When will ico start? Me and some of my friends wanted to join for that time. If it is in early October I will collect the rest of the money to join in this project. I got some good news from some of my friends to join for this Utrust ico. Good luck

[ParRus]

At first I thought the team was quite young, but after I saw the numbers of person involved and their previous work on LinkedIn.

Seems like they have quite a professional team !

If they are not a professional team, how to make many investors buy all token from pre-sale in one day?
They need prove their project is best place to invest, therefore I do not feel surprised after pre-sale raised hardcap very fast like that.

Well, yes, from which team depends on whether investors invest or not. it looks like it's all right here
Let's see how they will develop further

[Sozialtourist]

So only 1% fee, which is a lot lower than paypal and others.
Instantanious conversion to fiat for the merchants !
And burning tokens everytime ..
Wow this is something i'd like to install at some business i know.
Is there a early adopter system ?

so the 1% fee is converted into utrust tokens and burned - and that increases the worth of the existing tokens am i right?

No not the whole 1% fee is converted, only a fraction of the transactional fee is used to buy UTrust tokens back.

[haxllega]

When will ico start? Me and some of my friends wanted to join for that time. If it is in early October I will collect the rest of the money to join in this project. I got some good news from some of my friends to join for this Utrust ico. Good luck

I also hope that this ICO starts soon. I think I will invest at least 1 eth in this project. I think there is a lot of interest into this so we need only the devs to do a good job.

[Heimer]

Own token is ERC20, right? How come that it doesn't charge fees? Are they paid by UTRUST itself? If no, enlight me please

Yes, it's an ERC-20 token. What do you mean by no fees - when making a purchase with UTRUST tokens?

Don't Erc tokens need some gas to move it? Utrust is using ethereum blockchain so there should be some fee for transactions?

Every ERC-20 token needs gas to move it. It's the specification of Ethereum blockchain and it can't be avoided so UTRUST will also need some eth to transfer it

[matjas]

So only 1% fee, which is a lot lower than paypal and others.
Instantanious conversion to fiat for the merchants !
And burning tokens everytime ..
Wow this is something i'd like to install at some business i know.
Is there a early adopter system ?

so the 1% fee is converted into utrust tokens and burned - and that increases the worth of the existing tokens am i right?

No not the whole 1% fee is converted, only a fraction of the transactional fee is used to buy UTrust tokens back.

Their platform has to get income from somewhere and it wouldnt be logical to burn all 1%.

[FIEX]

Just found out about this project and looks very great!
Doing all online payments with crytocurrencies is the future , UTRUST can make this all happen!

Will be digging into this project!
Keep it up

[imtiazmahmood]

i think utrust in very interested and reputed project. this project will be more popular and useful. i saw website and read whitepaper. really fantastic. i liked. i will be part of this project.

[Rigorous]

In my opinion the choice of paying fees or not for Paypal is not a bad one. If someone don't know the seller or whoevery, fees and with this the protection is very useful, but my mainproblem for this is that the seller have to pay them. Instead they should be charged from the buyer. Well at least in this special case.

Why not split the fee? From a neutral point of view, both the buyer and the seller cannot be trusted. The seller is exposed to the risk of chargeback and unreasonable refunds, and the buyer is risking that the seller doesn't ship the product or a faulty one.

With Utrust both are at least partially solved: the money cannot be charged back and the money is held in escrow, giving the buyer time to inspect the products.

[alphashotgun]

So only 1% fee, which is a lot lower than paypal and others.
Instantanious conversion to fiat for the merchants !
And burning tokens everytime ..
Wow this is something i'd like to install at some business i know.
Is there a early adopter system ?

so the 1% fee is converted into utrust tokens and burned - and that increases the worth of the existing tokens am i right?

No not the whole 1% fee is converted, only a fraction of the transactional fee is used to buy UTrust tokens back.

ok please help me a little more to understand the whole process...
after the ico ther is a number u utrust tokens lets call this number "x" so if at a transaktion the sum "y" is converted into utrust tokens means that then there is a total of "x+y" in utrust tokens. then "y" is burned. okay then there is "x" like before. how does this increases the value of the tokens?