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

[mxxxxxx]

BLOCK , BNET , BKN, BLOX are available from my recognition

Now we have to combine them with tokens

BLOCK - blocks

BNET - ?

BKN - ?

BLOX - ?

[synechist]

So at the moment we have
BLOCK, BNET, BKN, BLOX, and BN as options.

What about the English name for the token? "Blocks" sound good?

[synechist]

Coverage of the Blocknet in CryptoArticles!

http://www.cryptoarticles.com/crypto-news/the-blocknet-how-it-works-and-ito-rules

[Revelation]

Interested in buying in with a supported currency. How will those currencies have a 10% discount if tokens are just sold on Bittrex?

Prices of participating coins fluctuate relative to BTC. If Token/BTC price will be fixed at 25k satoshi, how will you fix the rate between Token/participating_coin given that participating_coin/BTC fluctuates?

When tokens are available, coin pricing will become relative to the token's price.

While this won't lock the coins' prices absolutely, the potential for arbitrage will have the effect of converging prices relative to the token's price.

Suppose that XC price is 10k and Token has a fixed price of 25k, that would mean that 2.5 XC can buy 1 Token, however because of the 10% discount 2.25 XC can buy 1 Token (there will be a sell order on Token/XC pair at the price of 2.25). Over the course of 1 day XC price jumps 2 fold to 20k, what will happen with Token/XC pair price and how can you make it dynamic given that Bittrex ICOs do not allow the price to change?

[synechist]

Interested in buying in with a supported currency. How will those currencies have a 10% discount if tokens are just sold on Bittrex?

Prices of participating coins fluctuate relative to BTC. If Token/BTC price will be fixed at 25k satoshi, how will you fix the rate between Token/participating_coin given that participating_coin/BTC fluctuates?

When tokens are available, coin pricing will become relative to the token's price.

While this won't lock the coins' prices absolutely, the potential for arbitrage will have the effect of converging prices relative to the token's price.

Suppose that XC price is 10k and Token has a fixed price of 25k, that would mean that 2.5 XC can buy 1 Token, however because of the 10% discount 2.25 XC can buy 1 Token (there will be a sell order on Token/XC pair at the price of 2.25). Over the course of 1 day XC price jumps 2 fold to 20k, what will happen with Token/XC pair price and how can you make it dynamic given that Bittrex ICOs do not allow the price to change?

If XC doubled in price during the ITO, then everyone would have a wonderful time selling it for BTC and buying double the tokens with another coin.

As you might imagine, XC's price would drop back to 10k pretty quickly.

[Revelation]

Interested in buying in with a supported currency. How will those currencies have a 10% discount if tokens are just sold on Bittrex?

Prices of participating coins fluctuate relative to BTC. If Token/BTC price will be fixed at 25k satoshi, how will you fix the rate between Token/participating_coin given that participating_coin/BTC fluctuates?

When tokens are available, coin pricing will become relative to the token's price.

While this won't lock the coins' prices absolutely, the potential for arbitrage will have the effect of converging prices relative to the token's price.

Suppose that XC price is 10k and Token has a fixed price of 25k, that would mean that 2.5 XC can buy 1 Token, however because of the 10% discount 2.25 XC can buy 1 Token (there will be a sell order on Token/XC pair at the price of 2.25). Over the course of 1 day XC price jumps 2 fold to 20k, what will happen with Token/XC pair price and how can you make it dynamic given that Bittrex ICOs do not allow the price to change?

If XC doubled in price during the ITO, then everyone would have a wonderful time selling it for BTC and buying double the tokens with another coin.

As you might imagine, XC's price would drop back to 10k pretty quickly.

Ok, so Token/XC rate will be fixed throughout the ITO period as well, correct? When will you determine that rate and how would you determine it?

[Crypto_MERC]

Where will the exchange occur? 

I'm assuming Bittrex and Polo will be used for BlockNet/BTC transactions, so does that mean Coingateway will be used for the exchanges of blocknet participating coins for the ITO?  I've never used it, so is it pretty easy to navigate around?  Once it is live, will it be on their front page? 

Thanks in advance. 

[kingbtcvl]

lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

[synechist]

Where will the exchange occur? 

I'm assuming Bittrex and Polo will be used for BlockNet/BTC transactions, so does that mean Coingateway will be used for the exchanges of blocknet participating coins for the ITO?  I've never used it, so is it pretty easy to navigate around?  Once it is live, will it be on their front page? 

Thanks in advance. 

Yes that's the plan at present, though other pairings will be available elsewhere too.

We'll clarify this further as we approach the ITO.

[synechist]

lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

Good point

All coins will be used to fund development.

They will not need to be sold or dumped; they'll be paid to developers in little amounts, over the duration of the project.

What this does is increase actual usage of the coins. It won't suppress their price.

[Crypto_MERC]

lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

Good point

All coins will be used to fund development.

They will not need to be sold or dumped; they'll be paid to developers in little amounts, over the duration of the project.

What this does is increase actual usage of the coins. It won't suppress their price.

That's awesome!

[illodin]

Watching.

Very nice! I will buy with XST and SSD

This must be the exit a lot of people have been waiting for.  

[Revelation]

lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

Good point

All coins will be used to fund development.

They will not need to be sold or dumped; they'll be paid to developers in little amounts, over the duration of the project.

What this does is increase actual usage of the coins. It won't suppress their price.

Well, they will be dumped by developers, because they need fiat for everyday expenses.

[Jbanna]

lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

Good point

All coins will be used to fund development.

They will not need to be sold or dumped; they'll be paid to developers in little amounts, over the duration of the project.

What this does is increase actual usage of the coins. It won't suppress their price.

Can we have visibility of how many blocknet tokens are going to be bought by participating coins?

If for instance the teams had a combined value of $700,000 in their respective cryptos, they'd be able to get 70% of the blocknet for absolutely free (assuming they get the coins back after investing to THEMSELVES) AND 10% OFF. Investors would feel better with visibility on who is holding these coins.

It would be great if the participating coins could beforehand mention the percentages of tokens they are taking FOR FREE in the blocknet.

[synechist]

lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

Good point

All coins will be used to fund development.

They will not need to be sold or dumped; they'll be paid to developers in little amounts, over the duration of the project.

What this does is increase actual usage of the coins. It won't suppress their price.

Can we have visibility of how many blocknet tokens are going to be bought by participating coins?

If for instance the teams had a combined value of $700,000 in their respective cryptos, they'd be able to get 70% of the blocknet for absolutely free (assuming they get the coins back after investing to THEMSELVES) AND 10% OFF. Investors would feel better with visibility on who is holding these coins.

It would be great if the participating coins could beforehand mention the percentages of tokens they are taking FOR FREE in the blocknet.

Well, no-one can get coins "for free".

If a coin (that is, a crypto-project) buys a token, they pay for it in coins like everybody else.

Also, if a crypto-project buys Blocknet tokens, they not investing in themselves, they're taking their own funds and giving them to the Blocknet fund.

Blocknet funds are used to develop Blocknet-related technologies, not just any coin's features.

[synechist]

In other news...


The ITO will also be taking place on Bter!

[mxxxxxx]

In other news...


The ITO will also be taking place on Bter!

I hope this means too that all participating coins will be put there also for normal trading

[mr_random]

Sorry if this has been asked already, but if we buy these tokens on an exchange, can we withdraw them or do we have to wait for the asset exchange before we can redeem them?

I would prefer a way to immediately be able to withdraw my tokens and not rely on a centralised exchange... There have been way too many exchanges that have messed up in the last year, seems like a gamble leaving my tokens on one of these exchanges for potentially months.

[cloudboy]

There are at least three fundamental differences between the Blocknet and Supernet:

- XBridge is not an RPC call protocol, it's a true P2P protocol
- There's no central or core currency, unlike SuperNET, which uses BTCD for this
- Joining the Blocknet does not involve 10% of a coin's money supply being bought and centrally controlled

Shame on you

Please explain how SuperNET is not p2p.

[ed_teech]

I don't know if this has been asked or not, but if somebody buys Blocknet tokens with a cryptocurrency other than BTC, how will the price conversion take place ? I'm worried if moving large amounts has a bad dump impact on the cryptocurrencies price, if they are changed in a market.