[ANN] Blockbid: 90% Reduction in Coin Supply

[superwallet]

Where can I learn more about asset insurance on Blockbid?

[nextwalker]

In which countries have you already acquired licenses for legal activities?

[revilo]

If the funds collected from the sale of 3 million tokens is not enough to run the platform, how will you find additional money?

We have a large network of traditional investors that are interested in providing equity funding if required - but if we sell the full 3m tokens then that should be sufficient

But wouldn't it make sense to get the large network of traditional investors on board anyway?

[BlockBid]

Hello! The cost of one token remains the same or has it changed?

Token cost is unchanged 😀

[BlockBid]

If the funds collected from the sale of 3 million tokens is not enough to run the platform, how will you find additional money?

We have a large network of traditional investors that are interested in providing equity funding if required - but if we sell the full 3m tokens then that should be sufficient

But wouldn't it make sense to get the large network of traditional investors on board anyway?

They are already on board in that many of them are friends that support our project - but if we don't need their money we aren't going to take it just for the sake of increasing our bank balance...

[revilo]

If the funds collected from the sale of 3 million tokens is not enough to run the platform, how will you find additional money?

We have a large network of traditional investors that are interested in providing equity funding if required - but if we sell the full 3m tokens then that should be sufficient

But wouldn't it make sense to get the large network of traditional investors on board anyway?

They are already on board in that many of them are friends that support our project - but if we don't need their money we aren't going to take it just for the sake of increasing our bank balance...

No of course not to just increase your bank balance but maybe you have good use cases for the money and could expand the team and development, marketing and all that stuff. But yes, you know better what to do and how to proceed with your stuff than I do I guess Just saying

[BlockBid]

If the funds collected from the sale of 3 million tokens is not enough to run the platform, how will you find additional money?

We have a large network of traditional investors that are interested in providing equity funding if required - but if we sell the full 3m tokens then that should be sufficient

But wouldn't it make sense to get the large network of traditional investors on board anyway?

They are already on board in that many of them are friends that support our project - but if we don't need their money we aren't going to take it just for the sake of increasing our bank balance...

All good! And yes we are always open to equity investment also as long as it's on fair terms.

No of course not to just increase your bank balance but maybe you have good use cases for the money and could expand the team and development, marketing and all that stuff. But yes, you know better what to do and how to proceed with your stuff than I do I guess Just saying

[BlockBid]

In which countries have you already acquired licenses for legal activities?

For our initial business of an altcoin exchange, we don't need any specific license. This of course may change in the future and in order to trade crypto/fiat pairs we will need to obtain an Australian Financial Services License

[celobr32]

90% Reduction in Maximum Coin Supply

Blockbid is pleased to announce that it has reduced its maximum coin supply from 30m tokens to 3m tokens. This decision has been made following investor feedback and to ensure investor confidence.

This will be done by pausing the smart contract once 3m tokens are sold. As before, our soft cap remains at 1m tokens. If this figure is not achieved, all ETH received is automatically refunded via the smart contract.

The initially planned and stated maximum potential coin supply of 30m, if the ICO was fully subscribed, would result in a Blockbid market cap of approx USD$20m, which is higher than justified given our relatively early stage of development.

The original hard cap was formulated to provide adequate supply for a large number of traders to receive free or discounted brokerage on our exchange, as no additional coins will ever be minted.

We also feel it is important to only raise the funds that are required to build the exchange, and USD$2m will be sufficient for this. If further funds are required in addition to USD$2m, they will be raised via private equity.

With a reduced maximum supply of 3m tokens, the highest possible market cap Blockbid can attain based on ICO pricing is approx USD$2m; this figure is commensurate with our current stage of progress.

This will support BID token value upon commencement of trading, which will be shortly after ICO completion on one or more of the many existing exchanges.

Blockbid is and will continue to be highly attentive to user and investor feedback, and one of our primary concerns is to ensure that the on-market value of our tokens meets or exceeds the price paid by ICO participants.

With this adjustment, the maximum market cap and coin supply upon commencement of trading will be 90% lower than stated in our initial ICO announcement.

The whitepaper and all future press releases will also be amended.

If you wish to participate in the ICO you will require an Ethereum wallet such as MEW.

The ICO participation link and Ethereum address to send ETH to can be found at https://blockbid.com.au

Our telegram discussion room can be joined here https://t.me/joinchat/C5go9A9sMT8ss14UOkPIHA

Do you have funds in the ethereum wallet?

[BlockBid]

Yes ETH is being received, last check we were about 15% of our softcap

[Immer]

Are you planning to introduce the opportunity of contactless payment using Blockbid mobile app?

[BlockBid]

Yes we are... NFC is in the roadmap

[Coin_trader]

The decission to reduce the total coin supply will helps in building it's price but will still be needing a good marketing strategy and promotions for the cryptoworld to be aware about your decision and about the project itself.
In that way, it will have the support and adoption of the community.

[BlockBid]

The decission to reduce the total coin supply will helps in building it's price but will still be needing a good marketing strategy and promotions for the cryptoworld to be aware about your decision and about the project itself.
In that way, it will have the support and adoption of the community.

Yes agree.. although as a serious project we don't want to go overboard on the marketing. Our plan and team and credentials and professionalism should speak loudly enough.

[calculatorhe]

Nice idea, good concept, sure the future is great!)))

[revilo]

If the funds collected from the sale of 3 million tokens is not enough to run the platform, how will you find additional money?

We have a large network of traditional investors that are interested in providing equity funding if required - but if we sell the full 3m tokens then that should be sufficient

But wouldn't it make sense to get the large network of traditional investors on board anyway?

They are already on board in that many of them are friends that support our project - but if we don't need their money we aren't going to take it just for the sake of increasing our bank balance...

All good! And yes we are always open to equity investment also as long as it's on fair terms.

No of course not to just increase your bank balance but maybe you have good use cases for the money and could expand the team and development, marketing and all that stuff. But yes, you know better what to do and how to proceed with your stuff than I do I guess Just saying

Hey was checking by here and saw you answered my post while it seems it didn't work out properly. Empty quote!

[BlockBid]

If the funds collected from the sale of 3 million tokens is not enough to run the platform, how will you find additional money?

We have a large network of traditional investors that are interested in providing equity funding if required - but if we sell the full 3m tokens then that should be sufficient

But wouldn't it make sense to get the large network of traditional investors on board anyway?

They are already on board in that many of them are friends that support our project - but if we don't need their money we aren't going to take it just for the sake of increasing our bank balance...

All good! And yes we are always open to equity investment also as long as it's on fair terms.

No of course not to just increase your bank balance but maybe you have good use cases for the money and could expand the team and development, marketing and all that stuff. But yes, you know better what to do and how to proceed with your stuff than I do I guess Just saying

Hey was checking by here and saw you answered my post while it seems it didn't work out properly. Empty quote!

Ah so you can't see my response?

[revilo]

If the funds collected from the sale of 3 million tokens is not enough to run the platform, how will you find additional money?

We have a large network of traditional investors that are interested in providing equity funding if required - but if we sell the full 3m tokens then that should be sufficient

But wouldn't it make sense to get the large network of traditional investors on board anyway?

They are already on board in that many of them are friends that support our project - but if we don't need their money we aren't going to take it just for the sake of increasing our bank balance...

All good! And yes we are always open to equity investment also as long as it's on fair terms.

No of course not to just increase your bank balance but maybe you have good use cases for the money and could expand the team and development, marketing and all that stuff. But yes, you know better what to do and how to proceed with your stuff than I do I guess Just saying

Hey was checking by here and saw you answered my post while it seems it didn't work out properly. Empty quote!

Ah so you can't see my response?

Oh you actually responded but in a rather unusual way when it comes to using the quote function on this forum Nevermind!

[revilo]

If the funds collected from the sale of 3 million tokens is not enough to run the platform, how will you find additional money?

We have a large network of traditional investors that are interested in providing equity funding if required - but if we sell the full 3m tokens then that should be sufficient

But wouldn't it make sense to get the large network of traditional investors on board anyway?

They are already on board in that many of them are friends that support our project - but if we don't need their money we aren't going to take it just for the sake of increasing our bank balance...

All good! And yes we are always open to equity investment also as long as it's on fair terms.

No of course not to just increase your bank balance but maybe you have good use cases for the money and could expand the team and development, marketing and all that stuff. But yes, you know better what to do and how to proceed with your stuff than I do I guess Just saying

Hey was checking by here and saw you answered my post while it seems it didn't work out properly. Empty quote!

Ah so you can't see my response?

Oh you actually responded but in a rather unusual way when it comes to using the quote function on this forum Nevermind!

Hey what happened to this? Neither people nor the dev active on this thread anymore? How comes?

[BlockBid]

Still here and working!

Most of the activity is on our original ICO thread and Telegram room, which you can join here

https://t.me/joinchat/C5go9A9sMT8ss14UOkPIHA