ANN - InkWayCoin (LKNX) - Earn LKNX by Mining TX-fees - Now in PoS/PoW TX

[steady712]

Good luck !!

[trustyourself]

how to ICO this coin?

[3angle]

how to ICO this coin?

There will be a link in the opening page here when the LKNX/BTC markets open.

[adsactly]

WOW this is Incredible this is a Flash Sale for Printer Ink I like this stuff
I already have a package from inkway this is great quality ink!

[majeis]

WOW this is Incredible this is a Flash Sale for Printer Ink I like this stuff
I already have a package from inkway this is great quality ink!

Not exactly sure if this is sarcasm or sockpuppet pumping.

Care to clarify?

[3angle]

As someone who works in the printing industry this coin definitely caught my attention but is there 3rd party confirmation that Inkway is backing this?

I believe there is a conference-call tomorrow where everyone can call in and ask the board of directors the questions they want.

INKWAY USA CONFERENCE CALLS (Saturdays @ 9am PST/12pm EST)
  Conference Call Phone Number 805.399.1200  
Conference Call PIN Number: 166921#

also webinars - http://inkwayusa.com/inkway_webinars.html

[trustyourself]

how to ICO this coin?

There will be a link in the opening page here when the LKNX/BTC markets open.

how long will the market open?

[ning_aric]

GOT

[Willisius]

...
We wont give the market more to trade then they can handle, unsold ICO will go back to the company-wallet to let the market trade freely after the ICO is over.
...

You're going to pay yourself the ICO? That's a red flag. Why not make it unspendable?

[3angle]

...
We wont give the market more to trade then they can handle, unsold ICO will go back to the company-wallet to let the market trade freely after the ICO is over.
...

You're going to pay yourself the ICO? That's a red flag. Why not make it unspendable?

We wont give the market more to trade then they can handle means - let me specify: the coin is an instrument between InkWayUSA and the market - all the coins = INK, so if we don´t sell out everything, unsold coin will go back to the company-wallet to be distributed on another market at the same prices until the circle is wide enough to have an active futures market for larger and larger inventory.

[miningfool]

...
We wont give the market more to trade then they can handle, unsold ICO will go back to the company-wallet to let the market trade freely after the ICO is over.
...

You're going to pay yourself the ICO? That's a red flag. Why not make it unspendable?

We wont give the market more to trade then they can handle means - let me specify: the coin is an instrument between InkWayUSA and the market - all the coins = INK, so if we don´t sell out everything, unsold coin will go back to the company-wallet to be distributed on another market at the same prices until the circle is wide enough to have an active futures market for larger and larger inventory.

This doesn't really make any sense.  Can you explain in more detail exactly how this works?

Basically this is monetizing the current inventory right?  So, 1 coin = 1 ink thing.  How is that a futures market?  We aren't trading puts and calls?  We are buying the existing inventory.

So, lets say I buy 10,000 coins.  I then own 10,000 units of the actual physical inventory?  What happens if they sell some of their inventory?  Now the money supply is not backed by as much ink things?  At some point they will re-order to refill their inventory.  In between there is a period of time where the coins are not backed by the ink assets?

For an asset backed currency, wouldn't they need to put all the ink things in a vault, and have the supply audited periodically?  Then, to sell the ink, they would buy back the amount of coins from the market.  When the ink is sold, do they then burn the coins?  When new inventory is ordered and arrives, how is it monetized via new coins if the entire supply is premined and sold at ICO?  How is any of this going to be enforced?

Is this legal for a publicly traded company to do?  Since Inkyway is a US company, and the US treats virtual currencies as commodities, does this fall under the purview of the chicago board of trade or something like that?

[3angle]

...
We wont give the market more to trade then they can handle, unsold ICO will go back to the company-wallet to let the market trade freely after the ICO is over.
...

You're going to pay yourself the ICO? That's a red flag. Why not make it unspendable?

We wont give the market more to trade then they can handle means - let me specify: the coin is an instrument between InkWayUSA and the market - all the coins = INK, so if we don´t sell out everything, unsold coin will go back to the company-wallet to be distributed on another market at the same prices until the circle is wide enough to have an active futures market for larger and larger inventory.

This doesn't really make any sense.  Can you explain in more detail exactly how this works?

Basically this is monetizing the current inventory right?  So, 1 coin = 1 ink thing.  How is that a futures market?  We aren't trading puts and calls?  We are buying the existing inventory.

So, lets say I buy 10,000 coins.  I then own 10,000 units of the actual physical inventory?  What happens if they sell some of their inventory?  Now the money supply is not backed by as much ink things?  At some point they will re-order to refill their inventory.  In between there is a period of time where the coins are not backed by the ink assets?

For an asset backed currency, wouldn't they need to put all the ink things in a vault, and have the supply audited periodically?  Then, to sell the ink, they would buy back the amount of coins from the market.  When the ink is sold, do they then burn the coins?  When new inventory is ordered and arrives, how is it monetized via new coins if the entire supply is premined and sold at ICO?  How is any of this going to be enforced?

Is this legal for a publicly traded company to do?  Since Inkyway is a US company, and the US treats virtual currencies as commodities, does this fall under the purview of the chicago board of trade or something like that?

Yes, when you buy InkWayCoin as you said, 10,000 coins = that part of the inventory is now your ownership - it will sit on shelf until you send the coins to InkWayUSA and receive the INK in return - or sell the coins to someone else who want to buy INK.

The Inventory is monitored, insured, audit every 3 months - normal US Business routines.

Or said like this - InkWay will hold your INK until you provide them with a shipping-address.

Chicago is a great old commodity exchange that we would love to trade on, but we need higher volumes for them to be interested. Hopefully this initiative will prove to be profitable and effective for InkWay, Traders & Customers alike.

[3angle]

Bounty for 2nd Block Explorer - see OP

Block Explorer up: http://lknx.explorer.ssdpool.com:9101/

[BlackMarket]

is this real ? 

[3angle]

is this real ? 

yes it is real.

When the markets open, you will be able to bulk up on INK and make money on Real INK to your local customers, or trade LKNX back to the market and use the power of the Internet to distribute the INK where it is needed the most before the next batch of INK is produced and in storage.

If you have a web-shop with computer or printer-products, you can easy buy and list InkWay INK in your inventory, keep what you want to have in storage and keep what you want to have sent to you later in virtual currency - there are many options in this market, and it is a brand new market we are pioneering, so we´ll grow together and learn from each other.

[majeis]

is this real ? 

yes it is real.

When the markets open, you will be able to bulk up on INK and make money on Real INK to your local customers, or trade LKNX back to the market and use the power of the Internet to distribute the INK where it is needed the most before the next batch of INK is produced and in storage.

If you have a web-shop with computer or printer-products, you can easy buy and list InkWay INK in your inventory, keep what you want to have in storage and keep what you want to have sent to you later in virtual currency - there are many options in this market, and it is a brand new market we are pioneering, so we´ll grow together and learn from each other.

Real or not, I found your last project to be unexpectedly interesting, so I'll withhold judgement on this one until I see some hilarity ensue. 

[3angle]

Alright - Block-Explorer is up, see the bottom of OP.

[3angle]

is this real ? 

yes it is real.

When the markets open, you will be able to bulk up on INK and make money on Real INK to your local customers, or trade LKNX back to the market and use the power of the Internet to distribute the INK where it is needed the most before the next batch of INK is produced and in storage.

If you have a web-shop with computer or printer-products, you can easy buy and list InkWay INK in your inventory, keep what you want to have in storage and keep what you want to have sent to you later in virtual currency - there are many options in this market, and it is a brand new market we are pioneering, so we´ll grow together and learn from each other.

Real or not, I found your last project to be unexpectedly interesting, so I'll withhold judgement on this one until I see some hilarity ensue. 

thanks, I´ll try to keep you all informed, and to make sure we all are informed - conference-call in a couple of hours if you want to listen in or have questions

[notbatman]

There's a future in alt-coins backed by commodities IMO, this is great.

+1

[3angle]

There's a future in alt-coins backed by commodities IMO, this is great.

+1

Thanks, yeah a few of us have been grumbling around for something better and more sustainable and reasonable then some of the other projects.
the crypto-tech is very good now, and I´m looking forward to test it out in this kind of market.


I made an illustration on how I picture the natural cycles in this kind of market




It is an experiment to find out if Crypto is ready for the futures-markets.

If successful we´ll start using the system as planned, but if there is not enough buy-support/trade-cycle we will have to re-calibrate everything and try different approaches.

It is really up to InkWay to determine how this market is going to work, we are just their dev-team and ofc - we are crossing our fingers and hoping for the best and will always be around to bridge technical integration.