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

[4theLOVEofCrypto]

i know the team needs to be prepared but the rest should just think positiv .

Arlyn when will the xc thread be up again. guess you wanna restart with some news.

I think it is safe to reopen the BTC talk thread again. The fud storm is over.

We'll be doing this at some point. I'm also considering a separate thread just for announcements, so that they can all be on one easily accessible place instead of getting drowned out.

I like this idea.  Update the announcements and basically lock it so it can't be swamped with a bunch of useless posts.

[neo666]

i know the team needs to be prepared but the rest should just think positiv .

Arlyn when will the xc thread be up again. guess you wanna restart with some news.

I think it is safe to reopen the BTC talk thread again. The fud storm is over.

We'll be doing this at some point. I'm also considering a separate thread just for announcements, so that they can all be on one easily accessible place instead of getting drowned out.

I like this idea.  Update the announcements and basically lock it so it can't be swamped with a bunch of useless posts.

exactly!

[synechist]

Good point about coins bought on CoinGateway being traded already. If you bought on CoinGateway and then sold your BLOCK, you won't be able to pay the BLOCK back to CoinGateway, in which case you wouldn't get a refund through them.


Important point: during Bittrex's 48hr buy wall period, no withdrawals or deposits of BLOCK will be possible. This prevents anyone who bought BLOCK on Bittrex losing out on the chance to sell. The Bittrex refund option is only offered to Bittrex customers.

Another important point: you should probably wait until the ITO is confirmed to have failed or succeeded before selling. Otherwise you'll sell below market price. If the ITO doesn't make its minimum then refunds will be at the price offered: 0.00025 BTC.



(Disclaimer: these are provisional remarks.)

This was the reason I brought up the question about refunds.  I still hold my BLOCK from the exchange and haven't sold any on Polo.  But those that have would be SOL.  What would happen to those participating coins that Coingateway holds that can't be returned because of this?  They hopefully wouldn't be put on the market to exchange for BTC because that could kill the coins.  Would the unclaimed coins be destroyed?

And what if you have a situation where someone that exchanged a participating coin for BLOCK on coingateway, instead of getting those coins back, goes to POLO and exchanges the BLOCK for BTC at the 25k buy wall?  There really is no way to control this.

And as a final note like you said, if it doesn't get funded, then all those that sold at a loss will take the loss.  Those that bought at the discounted prices will now actually make some off those purchases because they will be selling into a buy wall on POLO.  ALL OF THIS IS THEORETICALLY SPEAKING OF COURSE.

This is getting funded, but just wanted to cover the what ifs.

When it comes to refunds using any altcoins that aren't claimed on CoinGateway, we could just put up sell walls on exchanges.

This wouldn't crash the price of any alt. It would just offer refunds for the same price coins were sold at.

We'd break even (minus fees), and market cap would be restored to the altcoins.

Anyone who traded BLOCK in the interim and either profited or lost is responsible for their trading decisions. Sounds fair to me. It's a zero-sum game after all.

[URSAY]

i know the team needs to be prepared but the rest should just think positiv .

Arlyn when will the xc thread be up again. guess you wanna restart with some news.

I think it is safe to reopen the BTC talk thread again. The fud storm is over.

We'll be doing this at some point. I'm also considering a separate thread just for announcements, so that they can all be on one easily accessible place instead of getting drowned out.

I like this idea.  Update the announcements and basically lock it so it can't be swamped with a bunch of useless posts.

The past few days I have been assembling info into XC, BlockNet, and Dan Metcalf documents.  I'm hoping these docs will cover almost ANYTHING you'd want to know about XC or the BlockNet but from a completely objective view.  Even what some consider FUD will be covered and backed up with answers and supporting links.  Hopefully the XC doc and BlockNet doc will be available within the next few days.  The Dan Metcalf doc will not be made public but will be available to limited parties under extraordinary circumstances.  I've considered adding the docs to my own moderated XC/BlockNet thread but I am open to any suggestions that anyone might have.  

[friendfromnobody]

its funny that people talk about fud ,
but the big quastion is who started the fud?Huh
everybody knows now what and from who blocknet and util is,
fud = news ??
if you look at the skype log you see that proms knows that smurf talks with other people about the news 25e ,
but prom say at the 28e util is mine dont tell anyone its privy.
it looks like he knows that smurf will leak it.
was it a plan or was prom not smart enough and still trusted smurf?

[WhiteNotWright]

Good point about coins bought on CoinGateway being traded already. If you bought on CoinGateway and then sold your BLOCK, you won't be able to pay the BLOCK back to CoinGateway, in which case you wouldn't get a refund through them.


Important point: during Bittrex's 48hr buy wall period, no withdrawals or deposits of BLOCK will be possible. This prevents anyone who bought BLOCK on Bittrex losing out on the chance to sell. The Bittrex refund option is only offered to Bittrex customers.

Another important point: you should probably wait until the ITO is confirmed to have failed or succeeded before selling. Otherwise you'll sell below market price. If the ITO doesn't make its minimum then refunds will be at the price offered: 0.00025 BTC.



(Disclaimer: these are provisional remarks.)

This was the reason I brought up the question about refunds.  I still hold my BLOCK from the exchange and haven't sold any on Polo.  But those that have would be SOL.  What would happen to those participating coins that Coingateway holds that can't be returned because of this?  They hopefully wouldn't be put on the market to exchange for BTC because that could kill the coins.  Would the unclaimed coins be destroyed?

And what if you have a situation where someone that exchanged a participating coin for BLOCK on coingateway, instead of getting those coins back, goes to POLO and exchanges the BLOCK for BTC at the 25k buy wall?  There really is no way to control this.

And as a final note like you said, if it doesn't get funded, then all those that sold at a loss will take the loss.  Those that bought at the discounted prices will now actually make some off those purchases because they will be selling into a buy wall on POLO.  ALL OF THIS IS THEORETICALLY SPEAKING OF COURSE.

This is getting funded, but just wanted to cover the what ifs.

When it comes to refunds using any altcoins that aren't claimed on CoinGateway, we could just put up sell walls on exchanges.

This wouldn't crash the price of any alt. It would just offer refunds for the same price coins were sold at.

We'd break even (minus fees), and market cap would be restored to the altcoins.

Anyone who traded BLOCK in the interim and either profited or lost is responsible for their trading decisions. Sounds fair to me. It's a zero-sum game after all.

Yep. I agree. If you traded blocks you take the risk of not getting square in the end. However, if you bought under 25, well done if you can sell off at 25 on the wall. Always in crypto ways to profit in trading, but someone always has to lose. Keep that in mind.

[00Smurf]

its funny that people talk about fud ,
but the big quastion is who started the fud?Huh
everybody knows now what and from who blocknet and util is,
fud = news ??
if you look at the skype log you see that proms knows that smurf talks with other people about the news 25e ,
but prom say at the 28e util is mine dont tell anyone its privy.
it looks like he knows that smurf will leak it.
was it a plan or was prom not smart enough and still trusted smurf?

Well if you read further, the next convo's we have i clarify what i can and cannot pass onto the sdc team. I was the middleman relaying info to the sdc team as this was when things were being discussed about sdc becoming part of blocknet etc.

Prom's own statement confirms i had to malicious intent. Yet people continue to attack me here.

Aside form that prom started promoting util shortly after anyway. So it's not like he kept it secret long.

[FlyboyHawk]

Here's the full IRC interview that occured, edited (but not filtered) on Coins Source


http://www.coinssource.com/interview-with-dan-metcalf-regarding-recent-blocknet-concerns/

Good to see it at last above the previous article

That's not good enough for me. The first article has already done irreparable damage . They should pull the first article and publicly apologize for it.

I see they removed it from the main site , asked them too to remove the tweet

I had a similar problem; got out of sync and could never catch up. So I closed wallet saved the wallet.dat file & deleted blocknet folder. Then ran blocknet app and it seemed to work ok but didn't active connections to network. I then installed the backup wallet.dat file and opened app again. Still no active connections yet my network is ok for XC app and other internet. In Transactions menu, my original buy of Block is shown along with the mined block except the mined are shown as 'generated buy not accepted'. In Overview tab, Spendalbe is shown as 0.00. What should I do?

[mr_random]

So should I buy into Blocknet or not?

Holders/believers, give me your most convincing argument.

Pros: Dan has always delivered with his past tech promises, only one other project like this and it is valued much higher (supernet)

Cons: The manipulative FUD seems endless and has damaged the reputation of the project before it's begun, Tokens are unlikely to receive decent fees for considerable time

Trying to decide.

[racer2012]

If we keep holding blocknet
What would be it's value by June 2015?
Any suggestion value of per block

[mav137]

i know the team needs to be prepared but the rest should just think positiv .

Arlyn when will the xc thread be up again. guess you wanna restart with some news.

I think it is safe to reopen the BTC talk thread again. The fud storm is over.

We'll be doing this at some point. I'm also considering a separate thread just for announcements, so that they can all be on one easily accessible place instead of getting drowned out.

I like this idea.  Update the announcements and basically lock it so it can't be swamped with a bunch of useless posts.

The past few days I have been assembling info into XC and BlockNet documents.  I'm hoping these docs will cover almost ANYTHING you'd want to know about XC or the BlockNet but from a completely objective view.  Even what some consider FUD will be covered and backed up with answers and supporting links.  Hopefully these docs will be available within the next few days.  I've considered adding the docs to my own moderated XC/BlockNet thread but I am open to any suggestions that anyone might have.  

Sounds like a perfect base for the new "anouncements only" thread. I'm curious to see your work.
Thanks for your efforts!

[UnicornFarts]

So should I buy into Blocknet or not?

Holders/believers, give me your most convincing argument.

Pros: Dan has always delivered with his past tech promises, only one other project like this and it is valued much higher (supernet)

Cons: The manipulative FUD seems endless and has damaged the reputation of the project before it's begun, Tokens are unlikely to receive decent fees for considerable time

Trying to decide.

Nine months is a long time in crypto.

If I was a buyer I'd wait till xc was open sourced to get an idea of code quality.  Based on supernet I'm sure the price will be less than the ico at some point.

Just my 02

[FlyboyHawk]

My blocknet wallet will not sync past 82% anyone else having this problem? If so can you point me in a direction to help?

Yes I had this issue. Essentially it was a bad chain.

Backed up my wallet.dat file, and the full folder.

Reinstall the QT again then move your wallet back.

Worked fine for me after that.

Yes mostly always helps after system crash or some file system errors , good to have your wallet backed up on daily basis too

Apologies; I used the wrong quote. Above is what I was referring to. thanks

[jahl]

So should I buy into Blocknet or not?

Holders/believers, give me your most convincing argument.

Pros: Dan has always delivered with his past tech promises, only one other project like this and it is valued much higher (supernet)

Cons: The manipulative FUD seems endless and has damaged the reputation of the project before it's begun, Tokens are unlikely to receive decent fees for considerable time

Trying to decide.

Just because most of the posts here were posted by ppl who would want to see this project fail doesn't mean that the majority of the investors or people reading here feel the same way.
Most ppl just don't want to get involved in the FUD imo.
I invested because i wanted to and no FUD will make me change my mind.

[laredo7mm]

Yep. I agree. If you traded blocks you take the risk of not getting square in the end. However, if you bought under 25, well done if you can sell off at 25 on the wall. Always in crypto ways to profit in trading, but someone always has to lose. Keep that in mind.

Since Poloniex have been actively trading Block and if the ITO fails to raise the minimum amount of BTC, could they be in a position to lose money?

For example and purely theoretical;

1.  Poloniex initially had 350 BTC of Block to sell.
2.  They have been actively allowing trading of Block during the ITO.
3.  Coingateway users have sent 25 BTC worth of Block to Poloniex to try and arbitrage their 10% discount.
4.  All 25 BTC of Coingateway coins have been sold on Poloniex.
5.  The refund on Bittrex causes the ITO not to meet the minimum requirements, the ITO is cancelled and all exchanges are refunded their initial amount of BTC.
6.  But Poloniex is now sitting on 375 BTC worth of Block instead of their initial 350.
7.  Is Poloniex stuck for the 25 BTC?

[onealfa]

i know the team needs to be prepared but the rest should just think positiv .

Arlyn when will the xc thread be up again. guess you wanna restart with some news.

I think it is safe to reopen the BTC talk thread again. The fud storm is over.

We'll be doing this at some point. I'm also considering a separate thread just for announcements, so that they can all be on one easily accessible place instead of getting drowned out.

I like this idea.  Update the announcements and basically lock it so it can't be swamped with a bunch of useless posts.

Right. Announcements only thread (in addition to the open discussion thread)  = Very good idea.
It makes a pain in the a*s to dig through 10-20 pages of bla-bla-bla,  just to find 1 or 2 important anouncements, once you been away a few days from a  routine internet use.

Make it happen!

[JSpike]

Yep. I agree. If you traded blocks you take the risk of not getting square in the end. However, if you bought under 25, well done if you can sell off at 25 on the wall. Always in crypto ways to profit in trading, but someone always has to lose. Keep that in mind.

Since Poloniex have been actively trading Block and if the ITO fails to raise the minimum amount of BTC, could they be in a position to lose money?

For example and purely theoretical;

1.  Poloniex initially had 350 BTC of Block to sell.
2.  They have been actively allowing trading of Block during the ITO.
3.  Coingateway users have sent 25 BTC worth of Block to Poloniex to try and arbitrage their 10% discount.
4.  All 25 BTC of Coingateway coins have been sold on Poloniex.
5.  The refund on Bittrex causes the ITO not to meet the minimum requirements, the ITO is cancelled and all exchanges are refunded their initial amount of BTC.
6.  But Poloniex is now sitting on 375 BTC worth of Block instead of their initial 350.
7.  Is Poloniex stuck for the 25 BTC?

Yes they do, perfect situation:)
And yes I sell my coins against the wall @ Bittrex.

[jdebunt]

Got an official statement by email which I was asked to publish :

http://www.cryptoarticles.com/crypto-news/chronology-of-the-smear-campaign-against-the-blocknet

[mr_random]

Yep. I agree. If you traded blocks you take the risk of not getting square in the end. However, if you bought under 25, well done if you can sell off at 25 on the wall. Always in crypto ways to profit in trading, but someone always has to lose. Keep that in mind.

Since Poloniex have been actively trading Block and if the ITO fails to raise the minimum amount of BTC, could they be in a position to lose money?

For example and purely theoretical;

1.  Poloniex initially had 350 BTC of Block to sell.
2.  They have been actively allowing trading of Block during the ITO.
3.  Coingateway users have sent 25 BTC worth of Block to Poloniex to try and arbitrage their 10% discount.
4.  All 25 BTC of Coingateway coins have been sold on Poloniex.
5.  The refund on Bittrex causes the ITO not to meet the minimum requirements, the ITO is cancelled and all exchanges are refunded their initial amount of BTC.
6.  But Poloniex is now sitting on 375 BTC worth of Block instead of their initial 350.
7.  Is Poloniex stuck for the 25 BTC?

a) If 25 BTC of Block have been sold that doesn't mean Poloniex holds 25 BTC of block. Poloniex collects trading fee. The Block belongs to whatever market participants bought them.
b) Poloniex isn't stuck anything. Anything they hold which is extra, is profit they made from trading fees in the form of Block.
c) They may have sold these collected fees off on their own market for BTC anyway.

[laredo7mm]

Yep. I agree. If you traded blocks you take the risk of not getting square in the end. However, if you bought under 25, well done if you can sell off at 25 on the wall. Always in crypto ways to profit in trading, but someone always has to lose. Keep that in mind.

Since Poloniex have been actively trading Block and if the ITO fails to raise the minimum amount of BTC, could they be in a position to lose money?

For example and purely theoretical;

1.  Poloniex initially had 350 BTC of Block to sell.
2.  They have been actively allowing trading of Block during the ITO.
3.  Coingateway users have sent 25 BTC worth of Block to Poloniex to try and arbitrage their 10% discount.
4.  All 25 BTC of Coingateway coins have been sold on Poloniex.
5.  The refund on Bittrex causes the ITO not to meet the minimum requirements, the ITO is cancelled and all exchanges are refunded their initial amount of BTC.
6.  But Poloniex is now sitting on 375 BTC worth of Block instead of their initial 350.
7.  Is Poloniex stuck for the 25 BTC?

a) If 25 BTC of Block have been sold that doesn't mean Poloniex holds 25 BTC of block. Poloniex collects trading fee. The Block belongs to whatever market participants bought them.
b) Poloniex isn't stuck anything. Anything they hold which is extra, is profit they made from trading fees in the form of Block.
c) They may have sold these collected fees off on their own market for BTC anyway.

Ahhh, so Poloniex might not get stuck but the people who bought at the lower price may?