Hi All,
First post newbie. I have just read your White Paper and have a few questions that I hope the forum can assist with. Please don't take me for a "hater" I just want to clarify a few points as I have probably "over thought" your documentation:
If the Token is only available for pre-release as part of the ICO, are you not limiting the customer base?
If the Token is a "FlyBuys" loyalty program and not a security or currency, then why will it be listed as a currency on exchanges? How can it be all of these things at once?
If the Token is necessary for a customer, and the Token is part of the ICO, is this not just adding FIAT layers to a Decentralised market?
For example: I cannot conduct a transaction in BTC without the Token, this forces me to purchase Tokens, adding cost. Although Cryptariums forecast fees are a fraction of what we now go through exchanging FIAT currencies to get them into Exchanges, (which are using exorbitant fees currently available as well as non exact market pricing in order to transfer hard currency into crypto currency) and you wish to force the customer to take a "loan" then add a Credit Card, then a shop purchase fee ... It just seems to me that although these are micro fees, there seems to be fees all along a transaction for a customer - or am I over thinking this?
Anyway, thanks everyone for your feedback in my attempt to expand my knowledge of your future company
Hello! Thanks for interesting questions!
If the Token is only available for pre-release as part of the ICO, are you not limiting the customer base?
- CRPT will be available for purchase for the whole period of ICO and after it hits exchanges. We will operate globally and do not have any limitations for participants whatsoever.
If the Token is a "FlyBuys" loyalty program and not a security or currency, then why will it be listed as a currency on exchanges? How can it be all of these things at once?
- CRPT is a utility token serving as fuel for transactions in Crypterium system, similar to GAS in Ethereum blockchain, just as simple as this, and it will be traded on exchanges as a unit of service which is a transaction in case of Crypterium.
If the Token is necessary for a customer, and the Token is part of the ICO, is this not just adding FIAT layers to a Decentralised market?
- CRPT as fuel is required for every single transaction, it's like we are selling coupons for future transactions now. Sorry, didn't get what you mean by "adding FIAT layers to a Decentralised market".
For example: I cannot conduct a transaction in BTC without the Token, this forces me to purchase Tokens, adding cost. Although Cryptariums forecast fees are a fraction of what we now go through exchanging FIAT currencies to get them into Exchanges, (which are using exorbitant fees currently available as well as non exact market pricing in order to transfer hard currency into crypto currency) and you wish to force the customer to take a "loan" then add a Credit Card, then a shop purchase fee ... It just seems to me that although these are micro fees, there seems to be fees all along a transaction for a customer - or am I over thinking this?
- The process basically looks like this: a user has his crypto funds in Crypterium wallet and wants to spend them, he goes to a shop and buys a Snickers chocolate bar, he pays via NFC with his mobile phone where he has virtual card emulated, when he confirms the transaction the shop receives the pay in fiat which is credited by Crypterium at an average exchange rate (see for Crypterium Smart Exchange algorithm) VS crypto being spent, after the payment is done with the shop we withdraw necessary amount in crypto form user's wallet. Crypterium profit is payed by the shop, it's included in acquirer bank and card issuing bank commissions, user only pays 0,5% as the price for the fuel which is burnt after purchase to allow transaction to be performed.
