From what I have read, this is a closed system, inside of which coins managers. And what will it be like - conventional individual signs, and all different? That is, they will not be tokens of the ether. And how to control their number is unclear.
Also in chapter 6.3 Managers' Coins you write:
"The investor can withdraw the invested money, but only at the end of the reporting period."
and ibid:
"Instead, the user buys "tangible" coins that are displayed in his or her personal cabinet and can be cashed at any time."
I understand that we mean the withdrawal from the system of fiat money in both cases, well, or btc, eth. So explain why there is a contradiction? How can an investor dispose of his funds with respect to withdrawals from your system?
Hi!There are two types of tokens in our system:GVT and managers' coins.
GVT is an internal currency of our platform; it is used for all investment operations and profit distributions. It exists mainly to unlink the currency of investor with the trading asset of manager and make it unified. GVT will external currency and will be freely traded on external cryptocurrency exchanges.
We will provide an automated way to convert crypto and fiat to GVT and vise versa via the cryptoexchange gateway.
Manager’s token is the instrument for attracting investments for this particular manager. These tokens are “internal”; they can be bought from the manager and afterwards can be freely traded on internal Genesis Vision exchange. Holders of manager’s tokens will receive the share of manager’s profit at the end of each reporting period.
I like this Project. I bought a stake in the presale. Also enjoyed the approach of buying an option for use in the main sale. Nice addition to token sale mechanics from fiat World. Best of luck to the Project.
Thank you!We think that options are a very good financial instrument for ICO programs. We believe that one day it may become a common practice, taking into account all benefits it can provide.
When I have some more free time I'll dig into the whitepaper.
Speaking of which, if there is one tip I can give startups concerning whitepapers it would be:
Do not give your whitepaper a generic name like "white-paper-eng.pdf". I have downloaded a ton of whitepapers by now. I have taught myself the habit to rename them properly. Most people will not. And they will not be able to find your whitepaper a few hours later after downloading, let alone after several days. They will have a download list or PDF reader's recent files list filled with "whitepaper.pdf", "whitepaper(1).pdf", "whitepaper(2).pdf".
You may be losing a potential investor that way.
Here are some ideas:
"Genesis Vision White Paper.pdf"
"GenesisVision-Whitepaper.pdf"
"WhitePaper_ GenesisVision.pdf"
You made a remark to the point! Thank you, we should take this advice.
Investors do not trade in the market directly. Instead, investors transfer their funds to experienced traders who manage the funds for them. Investors get their shares from their managers’ profits.
If someone trader lost my money, than I lost also all my money? Or ill have some funds insure?
How many % Ill receive from their pfrofit?
Hi!Yes, if the manager lost the balance then you will lose your investment. There is no any insure. But you have manager's cryptocurrency and if he made a profit later - you will receive the share of his profit at the end of each reporting period.
Well just started looking at this coin. I must say the video is really looking Nice.
I don't fully grasp what the system will do, but I see integrations planned in 2018 with several market leader platforms.
Hi! Perfectly noted! We plan integration with: MT4/MT5, FIX/FAST protocol, Crypto-exchanges, SDK for integration with our platform, Integration with exchanges (NYSE, NASDAQ, CME, MOEX, LSE, JPX, SSE, SZSE, SEHK, NSE, BSE).
How will a manager prove his trading history when this platform will just launch and how long history are we talking about here. I will follow this thread to get better understanding of your idea.
All traders will start trading with zero since there is no reliable trade statistics at present time.
I personally think the trust system itself is flawed as you may never now when a user decides to perform an exit.
He might have very good feedbacks but could exit at the end... Or the trust can be easily faked... Why would we need a decentralized trust system?
Was wondering this too, brokers activities are recorded on blockchain, ok, but what if a broker decide to quit operations and scam investors? It's like hella easy to withdraw all investors' money, a couple of transfers here, a couple anon coins there and moneys are disappeared. Now I'll read the whitepaper maybe I'll find my answer there
Yes, a broker can do so. This risk is real. But it will be public, and hide any deception will not succeed. After this, the broker will lose the trust and customers along with it.
I personally think the trust system itself is flawed as you may never now when a user decides to perform an exit.
He might have very good feedbacks but could exit at the end... Or the trust can be easily faked... Why would we need a decentralized trust system?
Was wondering this too, brokers activities are recorded on blockchain, ok, but what if a broker decide to quit operations and scam investors? It's like hella easy to withdraw all investors' money, a couple of transfers here, a couple anon coins there and moneys are disappeared. Now I'll read the whitepaper maybe I'll find my answer there
3.1 The manager’s trading account is blocked from depositing and withdrawing funds
Ok so he can't exit whenever he wants. This means that managers' smart contract are managed only by Genesis ? After reporting period profits will be transfered to managers' tokens holders automaticly?
Genesis Vision doesn't manage a smart contract, system is decentralized. Smart contract managed by trading platform integration plugin. Yes, after reporting period profits will be transferred to managers' tokens holders automatically.
I personally think the trust system itself is flawed as you may never now when a user decides to perform an exit.
He might have very good feedbacks but could exit at the end... Or the trust can be easily faked... Why would we need a decentralized trust system?
Was wondering this too, brokers activities are recorded on blockchain, ok, but what if a broker decide to quit operations and scam investors? It's like hella easy to withdraw all investors' money, a couple of transfers here, a couple anon coins there and moneys are disappeared. Now I'll read the whitepaper maybe I'll find my answer there
3.1 The manager’s trading account is blocked from depositing and withdrawing funds
Ok so he can't exit whenever he wants. This means that managers' smart contract are managed only by Genesis ? After reporting period profits will be transfered to managers' tokens holders automaticly?
So once he's registered (manager), he wont be able to withdraw or deposit any funds from/to his trading account?
The manager can leave a request for deposit/withdrawal of his own funds from his trading account, which will be processed at the end of the reporting period. In this case, the amount of remaining funds should not be less than the minimum amount.
Why is it called Genesis Vision? From the name I would not expect it has anything to do with financial markets. Then again with BlackRock or Vanguard are not that descriptive either.
Can someone from the team say anything about how that name came to be? I am guessing genesis = blockchain, vision = transparency.
Hi! With this project name, we won the HackRussia, all-Russian hackathon in the nomination “Finance and Blockchain”. At that time we did not have a clear vision our actions, but we needed a universal name. And we found our vision:)
In which country is your project registered? Will you expand the team? How many devs do you have?
Hi! Genesis Vision company established in Ireland. Sure we will expand our team! The core team you can find on the site
https://genesis.vision/
