[ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure

[mxxxxxx]

^^ Thanks Mxxxxxx!

Dont forget you get a 10% discount on the ITO price when purchasing with participating coins. There's surely some profits to be made on the deal.

Regards
Killa

FIBRE Thread
Fibre Twitter

How i get this discount? Thanks

You will be able to buy BlockNet shares with particitaping currencies at 10% discount , there will be special pairs for it like XC/BLockNet , FIBRE/BLocknet...

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[popolite11]

^^ Thanks Mxxxxxx!

Dont forget you get a 10% discount on the ITO price when purchasing with participating coins. There's surely some profits to be made on the deal.

Regards
Killa

FIBRE Thread
Fibre Twitter

purchasing this coin is a good investment.

[burner2014]

^^ Thanks Mxxxxxx!

Dont forget you get a 10% discount on the ITO price when purchasing with participating coins. There's surely some profits to be made on the deal.

Regards
Killa

FIBRE Thread
Fibre Twitter

purchasing this coin is a good investment.

Of Course good price and 10 % discount

[Revelation]

In the OP you state that if less than 2500 BTC is invested you will still proceed with the project. What is the bare minimum? Why do you need more than the minimum to proceed with the project? If you can do the project with 1000 BTC reduce the size of the ITO and make outside investors more happy. No need to talk about profits and other shit.

[e1ghtSpace]

^^ Thanks Mxxxxxx!

Dont forget you get a 10% discount on the ITO price when purchasing with participating coins. There's surely some profits to be made on the deal.

Regards
Killa

FIBRE Thread
Fibre Twitter

How i get this discount? Thanks

You will be able to buy BlockNet shares with particitaping currencies at 10% discount , there will be special pairs for it like XC/BLockNet , FIBRE/BLocknet...

lol, not sure if it was intentional but there's a secret message!

[Bytas]

What decentralized stock platform will the Blocknet Shares be based on? Nxt, counterparty, BitsharesX, Mastercoin or some new platform?
How will the destruction of the unsold Blocknet shares be proven? proof of burn, or something else?
Will the usage of the gathered funds (2500BTC) be transparant and visible on the blockchain with regular Proof of Reserves?

The project looks amazing and i really hope you guys can pull it off, but the above questions need answering to access and gain the trust of a large market.

kind regards
Bytas

[killakem]

What decentralized stock platform will the Blocknet Shares be based on? Nxt, counterparty, BitsharesX, Mastercoin or some new platform?
How will the destruction of the unsold Blocknet shares be proven? proof of burn, or something else?
Will the usage of the gathered funds (2500BTC) be transparant and visible on the blockchain with regular Proof of Reserves?

The project looks amazing and i really hope you guys can pull it off, but the above questions need answering to access and gain the trust of a large market.

kind regards
Bytas

Great to see the Fibre community out in force!

[burner2014]

In the OP you state that if less than 2500 BTC is invested you will still proceed with the project. What is the bare minimum? Why do you need more than the minimum to proceed with the project? If you can do the project with 1000 BTC reduce the size of the ITO and make outside investors more happy. No need to talk about profits and other shit.

Good question!

[synechist]

What decentralized stock platform will the Blocknet Shares be based on? Nxt, counterparty, BitsharesX, Mastercoin or some new platform?
How will the destruction of the unsold Blocknet shares be proven? proof of burn, or something else?
Will the usage of the gathered funds (2500BTC) be transparant and visible on the blockchain with regular Proof of Reserves?

The project looks amazing and i really hope you guys can pull it off, but the above questions need answering to access and gain the trust of a large market.

kind regards
Bytas

Good questions. Thanks.

Blocknet tokens will initially be sold on Poloniex, Bittrex, and CoinGateway.

Then, once the Blocknet gains the capacity to pay fees to holders, tokens will be redeemable for assets on the NHZ asset exchange.

After the ITO, any unsold tokens will be provably destroyed.

The Blocknet's funds will always be publicly visible. Furthermore the Blocknet Foundation will give public account for expenditures.

[Queeq]

A little summary for some important questions and answers :

Blocknet fees have to be paid in something right?

We're offering the community a chance to earn Blocknet fees by owning shares (tokens).

In return, the Blocknet gets development funding.

You're right, Blocknet tokens are not used for currency conversions.

They're used to allocated fee-revenue to holders.

They're also used to express the value of the Blocknet.

And, lastly, they're used to enable community-ownership of Blocknet assets.

Personally I'd love some proof-of-concept code to be released prior to the ITO.

Part of the XBridge code is actually completed so this might be possible.

Regardless of that, the XBridge protocol is based on the Xnode protocol that XC uses. If anyone is worried about development talent or the ability to deliver, take a look at XC's timeline.

Now pool all the developer talent from all the participating coins.

This code will get nailed down good and proper.

You're right. All current participating coins are included for their genuine (and relevant) innovation.

Personally I'm not averse to large user-bases by any means though. :-)

Thanks for the summary, but I still don't understand what would Blocknet take fees for if not currency conversion. This way it seems like just another coin with own blockchain and ability to interconnect other blockchains.

[burner2014]

A little summary for some important questions and answers :

Blocknet fees have to be paid in something right?

We're offering the community a chance to earn Blocknet fees by owning shares (tokens).

In return, the Blocknet gets development funding.

You're right, Blocknet tokens are not used for currency conversions.

They're used to allocated fee-revenue to holders.

They're also used to express the value of the Blocknet.

And, lastly, they're used to enable community-ownership of Blocknet assets.

Personally I'd love some proof-of-concept code to be released prior to the ITO.

Part of the XBridge code is actually completed so this might be possible.

Regardless of that, the XBridge protocol is based on the Xnode protocol that XC uses. If anyone is worried about development talent or the ability to deliver, take a look at XC's timeline.

Now pool all the developer talent from all the participating coins.

This code will get nailed down good and proper.

You're right. All current participating coins are included for their genuine (and relevant) innovation.

Personally I'm not averse to large user-bases by any means though. :-)

Thanks for the summary, but I still don't understand what would Blocknet take fees for if not currency conversion. This way it seems like just another coin with own blockchain and ability to interconnect other blockchains.

Wrong Blocknet is the Hosting.  

XC, Fibre, Swift and all other coins are the "APPLICATIONS"       .

Applications can make money.

Money can be shared.

Shareholders are Blocknet

Shareholders are Coins Participating

Shareholders are Maintenance Fees


That is my summary. And if I am honest I am looking forward to that. That gives a lot of possibilities.

[Queeq]

Wrong Blocknet is the Hosting.  

XC, Fibre, Swift and all other coins are the "APPLICATIONS"       .

Applications can make money.

Money can be shared.

Shareholders are Blocknet

Shareholders are Coins Participating

Shareholders are Maintenance Fees

That is my summary. And if I am honest I am looking forward to that. That gives a lot of possibilities.

From what I've read, it's not a hosting as all participating coins are able to function independently. If Blocknet was a hosting, they wouldn't be able to. Blocknet is a communication media, like ISPs. So who and for what would pay the Blocknet?

OP tells about "services" that coins would be able to provide for users of other coins. These services would be paid in particular coins and converted by the Blocknet. What is the part here that involves paying in Blocknet shares?

[00Smurf]

Wrong Blocknet is the Hosting.  

XC, Fibre, Swift and all other coins are the "APPLICATIONS"       .

Applications can make money.

Money can be shared.

Shareholders are Blocknet

Shareholders are Coins Participating

Shareholders are Maintenance Fees

That is my summary. And if I am honest I am looking forward to that. That gives a lot of possibilities.

From what I've read, it's not a hosting as all participating coins are able to function independently. If Blocknet was a hosting, they wouldn't be able to. Blocknet is a communication media, like ISPs. So who and for what would pay the Blocknet?

OP tells about "services" that coins would be able to provide for users of other coins. These services would be paid in particular coins and converted by the Blocknet. What is the part here that involves paying in Blocknet shares?

Basically they are replacing btc as a median and using blocknet shares in its place. Thats what it looks like to me when its all boiled down. Rather than pay tx's fees to miners using btc and an exchange fee. You use blocknet shares and the fee is split up among the holders of the shares.

[surfer43]

Basically they are replacing btc as a median and using blocknet shares in its place. Thats what it looks like to me when its all boiled down. Rather than pay tx's fees to miners using btc and an exchange fee. You use blocknet shares and the fee is split up among the holders of the shares.

You would still have to pay transaction fees to miners of each coin. I still don't see the need for a microfee on top of the fee for using the "services". This shareholder "micro-fee" fee seems to exist only so shares can exist so there can be an IPO. Again, what's to prevent a fork of Blocknet without microfees?

[Queeq]

Basically they are replacing btc as a median and using blocknet shares in its place. Thats what it looks like to me when its all boiled down. Rather than pay tx's fees to miners using btc and an exchange fee. You use blocknet shares and the fee is split up among the holders of the shares.

Hm...
Should I pay twice to use, say, VPN provided by some node then? Once - to the node itself for the service, and second - to the Blocknet for being able to communicate with the node. This way? And those Blocknet shares are distributed to share holders, right? And is the Blocknet protected with kinda PoS?

[bitranger]

I am a supporter of this initiative, but here's the elephant in the room.

I'm sure that I speak for most people when I say that for 2500 BTC worth of shares we would all like to see something running.  A working prototype or some sort of demonstrable technology showcasing what we can expect of a final product.

If I was buying shares in a flying car, I would like to at least see something that could float in the air as a proof of concept.

You must be new here. See: Ethereum. They literally have in their terms that the software itself may never even come to fruition, and that's part of the risk of participating in their IPO. And yet it was wildly successful.


I agree completely, but this is crypto, man. I highly doubt they'll make the 2500 from crowdfunding. What is more likely, is they have a couple people with significant bankrolls who can afford to buy out a significant share of the IPO. It's basically another way to hide a premine, they pay themselves some BTC for a significant portion of their own shares. Zero risk for them, big hype about zomg super successful IPO, etc.

The logic behind this multi-coin association is completely flawed without a technological proof-of-concept, as you said - until then it's just another token used to benefit the insiders while diminishing value of its constituent partners (the other coins). They talk a good talk, and they *will* have a successful IPO sale - the question is can you believe any of it, and the answer, as we've seen time and again in crypto - is no. Investing in the IPO is not an investment in this product, rather it's a bet that the insiders of this conglomerate have the competency and intent to use their large bankrolls and obfuscated token marketshare to pump the price up to the x4 goal they claim will be inherently  built into the design of this network. If they're savvy whales, that'd be pretty easy to do. Then they'll use that to sucker a new phase of buyers expecting the next rise, and so begins the tears for the not-so-savvy participants.

So, my point is - we won't get proof-of-concept or a demo. They don't need to give it. If they're not idiots they've *definitely* got the resources between these coin teams to self-buy and pump their own fresh IPO. Just like every other one, it's gonna be a big cash in for the insiders, a solid profit for intelligent traders, and a long line of bagholders wondering when the next update is.

Well some people GET IT!..nice post but as we have seen time and time again, the sheep being lead to the sheers are always smiling

[mxxxxxx]

Basically they are replacing btc as a median and using blocknet shares in its place. Thats what it looks like to me when its all boiled down. Rather than pay tx's fees to miners using btc and an exchange fee. You use blocknet shares and the fee is split up among the holders of the shares.

You would still have to pay transaction fees to miners of each coin. I still don't see the need for a microfee on top of the fee for using the "services". This shareholder "micro-fee" fee seems to exist only so shares can exist so there can be an IPO. Again, what's to prevent a fork of Blocknet without microfees?

Thank you for the update, but it is still unclear why Blocknet shares are needed at all.

Blocknet fees have to be paid in something right?

We're offering the community a chance to earn Blocknet fees by owning shares (tokens).

In return, the Blocknet gets development funding.

[Skatebird]

What time zone will be release the ITO ?

[mxxxxxx]

What time zone will be release the ITO ?

All of the required information will be released soon

[fearcoka]

Basically they are replacing btc as a median and using blocknet shares in its place. Thats what it looks like to me when its all boiled down. Rather than pay tx's fees to miners using btc and an exchange fee. You use blocknet shares and the fee is split up among the holders of the shares.