[ANN][ICO] ICON - Interchain Blockchain Network / Hyperconnect the World!

[midelou]

KYC delayed? No problem. I opted for bounty only. Those who purchased tokens have no choice but to bear this delay.

[1714828658]

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[1714828658]

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[snorlx]

I do not understand some things. we have invested first and then we will ask for documents from us. It seems a bit unreasonable. the accounts of unapproved accounts will be sent back or what ? everyday new things coming about ico's for make them hard.

It has been explained on the Medium press releases, you would have gotten emails. And did you see the Telegram invite? These questions get asked about twenty times a day, no exaggeration. Here's the answers..

1. The reason why KYC takes place after the token sale is so that ICON cannot be accused of farming personal ID's and information from people across the globe. Once they commit to purchasing then it makes more sense to ask for KYC. It also ensures that citizens from USA, China and Singapore don't participate. It is not ICONs fault that the governments of those countries have policies blocking their citizens from investing in an ICO.

2. For anyone that fails KYC, their ETH is returned to the wallet they contributed from. The ICX they would have received are burned. That means they are destroyed, which decreases the total supply of ICX.

3. Expect all governments to follow what China, America, Singapore and now South Korea are doing in terms of banning ICO participation. Although we are all suspicious of heavy, unfair cintrol there is also a strong argument that governments are protecting their citizens from too many scammy, pump and dump projects.

There is way too much hype and people who dont research into a project enough are losing boatloads of money.

[snorlx]

Sooooo obviously nobody knows whats goin on with this ico ban.

However, im starting to think icon might be screwed. If korean citisens cant invest in icos this entire ico will fall flat on its face. I hope that icon has some sort of backing from goverment where they are somwhow immune but i really dont know here. Anybody any ideas if we are screwed here? Really had high hopes for icon. But once again fucking goverments getting in the way because some people invested in titty and pot coin icos....hate this baby/hand holding culture measing up good business

Heaps of us know what's going on, are you in the Telegram? Admin is super active there and have official statements. I'll see if i can paste and image here using my ipad but here's where things are at..

Dear all supporters,
In order to follow up with all inquiries on the latest news around Korea's ICO ban, ICON team and our legal representatives are currently reviewing all facts. We will provide an update after the detailed review as soon as possible. Thank you for your patience and understanding.

KYC Schedule Update
https://medium.com/helloiconworld/kyc-schedule-update-2835c7253e67

[snorlx]

Also, one thing to know that will help is that ICON is a not for profit registered in Zug, Switzerland.

As it stands, Koreans are blocked from participating in ICO's that are launched from within Korea. So you can see that Koreans are protected.

Now, because I'm not admin wait until ICON makes an official statement of where ICON stands. But the one i posted above is where things are right now.

And if we don't hear a lot from them or any further clarification from the Korean regulators, it will have to do with Chuseok. Its their traditional holiday of Bountiful Harvest, coincides with the Autumn season, and it goes for 10 days.

So calm heads and a bunch of patience is needed, but not for too long.

[snorlx]

KYC delayed? No problem. I opted for bounty only. Those who purchased tokens have no choice but to bear this delay.

KYC was supposed to begin October 2nd but has been delayed 'a few weeks'. Unrelated to the ICO ban and more info to come when it's ready.

Also, the site is down for maintenance and an upgrade that integrates the KYC.

[YGung]

Also, one thing to know that will help is that ICON is a not for profit registered in Zug, Switzerland.

As it stands, Koreans are blocked from participating in ICO's that are launched from within Korea. So you can see that Koreans are protected.

Now, because I'm not admin wait until ICON makes an official statement of where ICON stands. But the one i posted above is where things are right now.

And if we don't hear a lot from them or any further clarification from the Korean regulators, it will have to do with Chuseok. Its their traditional holiday of Bountiful Harvest, coincides with the Autumn season, and it goes for 10 days.

So calm heads and a bunch of patience is needed, but not for too long.

Such a sweet setup.  Just to add on:

Straight from the vice president of the Korean Financial Services Commission (from this article):

http://news.joins.com/article/21983687

"The ICO prohibition should be viewed in terms of protecting investors rather than impeding industrial development."

ICON is a legit company with a legit business ties and a live blockchain product.  They obviously aren't an organization out to defraud investors, and while the ban MAY POSSIBLY implicate them, it's really not directed at an ICO of this caliber.  

No matter how things shake out in the short term, to me it looks pretty good long term for ICON specifically.  There will be FUD for sure, just have to weather it.

Thanks for telegram posts too snorlx

[alinapavlovichcc]

 Interesting project that is moving forward)

[chilly9876]

I'm not too worried about how ICON will do due to the ban, the only annoying thing is the delay this causes to receiving coins and exchanges accepting coins.

[Boriss]

I don't remember that anyone said anything about providing documents to some third party for bounty programs?

[snorlx]

Also, one thing to know that will help is that ICON is a not for profit registered in Zug, Switzerland.

Such a sweet setup.  Just to add on:

Straight from the vice president of the Korean Financial Services Commission (from this article):

http://news.joins.com/article/21983687

"The ICO prohibition should be viewed in terms of protecting investors rather than impeding industrial development."

ICON is a legit company with a legit business ties and a live blockchain product.  They obviously aren't an organization out to defraud investors, and while the ban MAY POSSIBLY implicate them, it's really not directed at an ICO of this caliber.  

No matter how things shake out in the short term, to me it looks pretty good long term for ICON specifically.  There will be FUD for sure, just have to weather it.

Thanks for telegram posts too snorlx

Cheers! Here to help

[Amritt]

What would get bounty need KYC ?

[snorlx]

I don't remember that anyone said anything about providing documents to some third party for bounty programs?

Unfortunately that is the case Boriss. The KYC was added to protect ICON and potential investors after the Bounty was announced and started.

[mynhpark]

ICON Lunar Holiday Greetings
https://medium.com/helloiconworld/icon-lunar-holiday-greetings-d5fddec7732

[z0n0]

Is there still bounty goin on?

[xmGx]

sorry dudes, i dont uderstend, when and how i can gett my bounty tokens?

[hhttran10]

Jesus I am so fed up with this thread. more than half of the posts are about bounty. Psssss

[Ocean28]

Tell me the payment for the bounty when will it be?

[Ocean28]

what's this KYC?

[guillzini]

what's this KYC?

KYC stands for Know Your Customer. It's a security measure financial institutes are required to take in order to prevent fraud, money laundering, terrorist funding etc.

In this case it means you will have to send in your personal data for confirmation before you get your coins.

[snorlx]

Is there still bounty goin on?

Bounty is finished. It ended when the tokens sold out.