[ANN][ISR] Isracoin - The Israeli cryptocurrency -

[SamWalters]

Good idea for self mod.

Still going at it huh? I've made my suggestions. I am not Israeli but I am friends with quite a few Israeli's. I think there is a future with this coin. I'll look into it.

5. A member of the Israeli community is building a site for selling Isracoin via local Fiat (ILS). The site will essentially purchase the coins from the exchanges and sell to the public for local Israeli fiat currency. This is a very, very important step for the project and we hope it will go live within the next 3-4 weeks.

Great idea on this

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[IsraelCoin]

A cool new social FB Isracoin wallet is now in beta tests!
As best we know, this is the first time ever a crypto wallet is made available on FB and we think its going to be very cool.
This wallet will help bring Isracoin to the hands of more people.
It is currently in Hebrew only and there's no ETA for English for now.

The really awesome thing about it - you can send Isracoins to ANY friend of yours on facebook, regardless of them having a wallet available.
They don't even need to be registered to the FB wallet yet to receive their first coins from you!

[y80]

A cool new social FB Isracoin wallet is now in beta tests!
As best we know, this is the first time ever a crypto wallet is made available on FB and we think its going to be very cool.
This wallet will help bring Isracoin to the hands of more people.
It is currently in Hebrew only and there's no ETA for English for now.

The really awesome thing about it - you can send Isracoins to ANY friend of yours on facebook, regardless of them having a wallet available.
They don't even need to be registered to the FB wallet yet to receive their first coins from you!

This sounds really cool actually

[y80]

any news on when hitbtc is going to put up isracoin on their exchange?

[IsraelCoin]

any news on when hitbtc is going to put up isracoin on their exchange?

We haven't heard anything specific from them, but from what we can tell it usually takes them about 3 weeks after they pick the winner.
So probably another 10 days or so, but that is just a rough estimation on our part.

[schnorchel]

...

1. We are working on a press release that will detail a the acceptance of Isracoin as means of payment for buying land in a prestigious real-estate development. This has been in the works for quite some time and we will be releasing it in Israeli news media either this week or early next week. We can tell you that one of the really cool parts of this deal, other than being the first time in the world (as far as we know) that you can buy land with crypto (and certainly with alts), is that the project will actually set the value of Isracoin at 1 ILS (roughly $0.3) which will help a lot in establishing a commerce based value for the coin.

...

Any news concerning this point?

[IsraelCoin]

...

1. We are working on a press release that will detail a the acceptance of Isracoin as means of payment for buying land in a prestigious real-estate development. This has been in the works for quite some time and we will be releasing it in Israeli news media either this week or early next week. We can tell you that one of the really cool parts of this deal, other than being the first time in the world (as far as we know) that you can buy land with crypto (and certainly with alts), is that the project will actually set the value of Isracoin at 1 ILS (roughly $0.3) which will help a lot in establishing a commerce based value for the coin.

...

Any news concerning this point?

The company has already agreed to this as per the details provided above. Now we are trying to coordinate taking this to the public together with a system that will allow the general public to buy Isracoins with local fiat. It is important to us to make this practical and give people a way to actually get their hands on such quantities of ISR.

[y80]

Just to confirm, it Bittrex is the main exchange for Isracoin at this time until HITBTC comes along. I didn't miss one somewhere did I?

[IsraelCoin]

That is correct.

[porn0f1sh]

I think this is the first I've seen such sustained and healthy growth for ISR on bittrex!

https://6d68d545be7203bd493d6efbd3ab5459a693a8d5.googledrive.com/host/0BzHINT1xZry9b0JTY0dvVnNlak0

[IsraelCoin]

Yes, it seems we are experiencing some nice growth and hope for it to be sustainable.

To achieve that sustainability, we are working on some long term infrastructure these days, the most important of which being channels for the general population in Israel to be able to invest in Isracoin, using local Fiat currency (NIS).
This is intended to come in two forms - a website that allows people to invest in Isracoins by local wire transfer and maybe credit-cards as well, and also integrating Isracoin into as many Change stores as we possibly can, out of the thousands of such stores in Israel, to allow people to buy Isracoins with cash.
Both of these are now in active development and discussions with such store owners and companies that develop the software used by these change stores etc.

[IsraelCoin]

BTW - Someone here asked about the ATM situation and as it stands, the government is making it somewhat complicated to import these and combined with the fact that the manufacturers are not very willing to adapt the system for new coins, makes this complicated. Adding to that the exceedingly high cost of these units, makes it a very difficult prospect for widespread use.

We are now talking to business partners of ours in China who developed their own ATM, which is supposed to be lower cost and who visited with us in Israel recently and are willing to adapt their system to support Isracoin.

So, to sum this up, the ATM approach is still on the horizon, but not as close as we first hoped.
This is also why we have been working on the other approach for making Isracoin more accessible, as detailed in the previous post.

[schnorchel]

So does that mean that you don't have an ATM waiting in customs?
Because a while ago you said: "The unit itself is in customs right now and will take a while to get approved, since this is the first unit of its kind in Israel and the most advanced in the market today."
So now you either either have a ATM in customs that most likely you will not be able to use because it cannot be adapted for ISR; or you don't have an ATM waiting to come out of customs, but that would that imply that the information that you hand out are not to be trusted.

[crackfoo]

BTW - Someone here asked about the ATM situation and as it stands, the government is making it somewhat complicated to import these and combined with the fact that the manufacturers are not very willing to adapt the system for new coins, makes this complicated. Adding to that the exceedingly high cost of these units, makes it a very difficult prospect for widespread use.

We are now talking to business partners of ours in China who developed their own ATM, which is supposed to be lower cost and who visited with us in Israel recently and are willing to adapt their system to support Isracoin.

So, to sum this up, the ATM approach is still on the horizon, but not as close as we first hoped.
This is also why we have been working on the other approach for making Isracoin more accessible, as detailed in the previous post.

You should look into the Skyhook Opensource ATM. Affordable and you can customize the source for any coin.

[IsraelCoin]

So does that mean that you don't have an ATM waiting in customs?
Because a while ago you said: "The unit itself is in customs right now and will take a while to get approved, since this is the first unit of its kind in Israel and the most advanced in the market today."
So now you either either have a ATM in customs that most likely you will not be able to use because it cannot be adapted for ISR; or you don't have an ATM waiting to come out of customs, but that would that imply that the information that you hand out are not to be trusted.

When we say the government is making things complicated to get such units into the country, that's what we mean.
The unit has been in customs for a very long time now and there is no ETA on it being released.
Beyond that, the manufacturer is not very cooperative regarding integration of the coin, so with all of that (and the cost) in mind, we are doing everything else that was described in the previous posts.

[IsraelCoin]

BTW - Someone here asked about the ATM situation and as it stands, the government is making it somewhat complicated to import these and combined with the fact that the manufacturers are not very willing to adapt the system for new coins, makes this complicated. Adding to that the exceedingly high cost of these units, makes it a very difficult prospect for widespread use.

We are now talking to business partners of ours in China who developed their own ATM, which is supposed to be lower cost and who visited with us in Israel recently and are willing to adapt their system to support Isracoin.

So, to sum this up, the ATM approach is still on the horizon, but not as close as we first hoped.
This is also why we have been working on the other approach for making Isracoin more accessible, as detailed in the previous post.

You should look into the Skyhook Opensource ATM. Affordable and you can customize the source for any coin.

Thank you for the suggestion!
We will look into that as well.

[orentt]

Bittrex decided to take the first step and combat annoying trade bots.

https://altcoinherald.com/bittrex-busts-bots/

Their method is not perfect, but still better than nothing.

We might see a more healthy ISR market in Bittrex and this might come just in the right time, in case the ISR team come out with some good announcements around the the Israeli holiday season.

[IsraelCoin]

Quick updates:

We are getting close to releasing a unified system (A portal, if you will) that will include improved and simplified business registration and validation, the new business directory and search and the improved Local Isracoins. This unified system will help people find what they need under the same website and make the experience more cohesive (This also includes a unified login for all systems).
We will also be adding a For Sale type of classifieds board to this system soon thereafter.

Also, we are having some meetings next week with owners of Change stores in Israel, to discuss details of how to implement adding Isracoin into their Change stores. There's already a system developed for working with them, but we need to figure out some integration, business decisions, regulatory issues etc.

Meanwhile, we are pushing forward with development of a website that will sell Isracoins via bank transfers of Israeli fiat currency. We expect this site to be up within 2-3 weeks or so. Possibly sooner. (The site will place orders for coins on bittrex and hitbtc to supply the local demand in Israel).

[schnorchel]

That means that by the 4th of October 2014 there should be something to show off (the website), if Isracoin indeed is legit. So far, though, these announcements did not amount to much.

[schnorchel]

And what happend to planned facebook tipping system, that was supposed to go BETA in a couple of weeks from 19th of August (almost a month ago)?
What about the wallet that was said to be imminent?
Let's see what happens, but don't hold your breath.