StarFire
Newbie
 Offline
Activity: 48
Merit: 0
|
 |
October 22, 2014, 05:02:50 AM |
|
I see a few posts that are harping on why certain coins were chosen to join Blocknet. Some are citing small marketcap blah blah blah.
Atcsecure mentioned that the development of the technology was priority. With this in mind, let us take a look at what each of the coins represented in the Blocknet Foundation have done…in no particular order.
SSD – First steganograpic anon transaction over mobile. This means that you can embed a transfer of SSD into an image that you take from your mobile and not have it traced – the image doesn’t suggest that a transaction has occurred. That is pretty freaking stout in my opinion. Development ongoing.
XST – World’s First anonymous SMS transaction. Again, a mobile transaction that is anonymous. Development ongoing (this is a theme with everyone here so I won't repeat it).
APEX – In wallet developments – everything from social networking to casinos. Aggressive dev team with an eye towards enabling web merchant transactions within their wallet.
UTIL – Content filtering to protect exit nodes from malicious and illegal content. A great business feature.
SWIFT – geoSwift, a way to GPS locate and connect sellers/buyers via mobile.
LXC – Working on BlueTooth transactions…meaning mobile transactions without internet connection. Sidechain research and implementation planned.
FIBRE – An Aggressive dev team that has already created their own OS and have integrated FibreLock (an android style password system that renders keyloggers obsolete) into a BTC Modded wallet in addition to their own.
NHZ – Asset Exchange and further expansion of NXT code.
XC – Working on some cool stuff with a dev who has proven himself through a mountain of accusations. Not sure I need to list the features and development here.
The best part of my summaries are this – it’s not comprehensive!!! It’s a miniscule aspect of what each coin has to offer and not a complete picture of what each respective coins developers are capable of. My point was to make an attempt to list a unique feature of each coin to demonstrate the very broad based level of expertise represented here. There are many talented devs here with many ‘firsts’ represented. All of them together can combine into a seamless user experience that can’t be claimed ANYWHERE. All of these features together create a potential user experience that is unrivaled and will be for some time.
The marketcap of each coin, at this time, is irrelevant to me. That is not what defines their worth. The devs are pretty stout and it is the technology that is being developed that is the main issue and what will drive their relevance.
None of the posts that I see are even focusing on what the development teams are doing. That needs to be corrected.
In fact, Blocknet has a group of talented people who will collaborate on making something that is something that Crypto has never seen before. And I think that is something that isn't being done elsewhere.
Yes the Blocknet will be a great advancement in the cryptocoin world. I hope it so much! |
|
|
|
|
|
danynx
|
|
October 22, 2014, 05:05:53 AM |
|
It's another supernet. No value!!!  even worse but yeah kind of, no pod so they can dissapear if needed. counterparty has already a decentralized exchange and its free.. nxt too. |
|
|
|
|
|
burner2014
|
|
October 22, 2014, 05:46:39 AM |
|
Question:
1. Where will the coins be stored after ICO?
2. Who is managing the funds after the ICO?
3. Has every Coin the same Voting Rights for Decisions?
Thanks.
4. Moreover it would be cool to have a list of Coin Representatives (Main Dev of the Coins) so everyone could see there is POD! (I know it but other people don't maybe..)
|
|
|
|
|
|
Revelation
|
|
October 22, 2014, 06:19:59 AM |
|
To save mucking around with trying to balance out price differentials at the time of the ITO the following could be done:
1. Set the volume per coin according to market capitalisation at the time of the start of the ITO, and fix throughout the ITO. Do not adjust at any point in time.
2. Float the cost per BLOCK according to the bitcoin to currency conversion rate less 10%.
This saves alot of mucking around with trying to get everything balanced. It also stops small volume coins markets being manipulated.
Bittrex ICO doesn't allow dynamic ICO price, 2. cannot be achieved. |
|
|
|
|
CryptoClub
Legendary
Offline
Activity: 1470
Merit: 1000
cryptocollectorsclub.com
|
|
October 22, 2014, 07:25:01 AM |
|
The ITO design appears solid to me. I far prefer a limited duration and a limited number of tokens. If they sell out, great, if not, extras destroyed. People can decide for themselves if they want to invest. A strategy recently has been to have these month long ITOs with unlimited BTC invested. Then by the time it finally is over, almost every possible person that would want to buy in, already has. Then it is a game of trying to sell each other the same tokens most have already bought.
As for coins being pumped, often whales and PnD crews look for news, quality, value, something to pump it on. If an older coin was never pumped at all, that is actually a bad sign. Bitcoin, Litecoin, nothing in cryptos is immune from that. I have actually been looking into the coins on the list and there are some interesting ones on there, imho. Never even noticed APEX before, but it is pretty cool, so I bought some.
|
...
|
|
|
adhitthana
Legendary
Offline
Activity: 1190
Merit: 1000
|
|
October 22, 2014, 07:57:23 AM |
|
Just because some other group took in $2,000,000 doesn't make it fine to "only" ask for $1,000,000 for your own project and think you're giving away a deal. Your view of reality is skewed brah...
This project will get a lot more support both financially and vocally if they tone down the cash cow and stagger their share offerings to source development funds in smaller allotments as I suggested earlier.
500,000 shares initially @ .00025 = 125 BTC
If they can't or won't kickstart this project with $50,000 worth of BTC then I have to question the legitimacy of the project.
That may not be a bad idea, but they may not have considered it. Has any other coin done this? We could remember that we are making this up as we go along and our crypto community can no doubt improve things as we go. |
|
|
|
|
synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
|
|
October 22, 2014, 08:36:19 AM |
|
The Ger, I think your concerns have been entirely resolved by Driv3n's post below. Also, $50,000 will get you virtually nothing. That's an unrealistically small amount in my opinion. Just because some other group took in $2,000,000 doesn't make it fine to "only" ask for $1,000,000 for your own project and think you're giving away a deal. Your view of reality is skewed brah...
This project will get a lot more support both financially and vocally if they tone down the cash cow and stagger their share offerings to source development funds in smaller allotments as I suggested earlier.
500,000 shares initially @ .00025 = 125 BTC
If they can't or won't kickstart this project with $50,000 worth of BTC then I have to question the legitimacy of the project. Once we see significant progress for our funding then perhaps another share offering can be done to get to the next level.
I strongly urge the Blocknet developers though, don't just ask for $1,000,000 because you think you can. I think you can guess where that's going to lead with this community. Be realistic. In all honestly I believe anything more than approx. $500,000 for a working product is cheeky and you are going to have a lot of people looking the other way on this project if you try and pull that amount.
If you are dead set on offering 10,000,000 shares I'd to it in .00015 BTC values.
10,000,000 x .00015 = 1500 BTC x $400 = $600,000
MUCH more reasonable in my opinion.
I see some concern from people asking why the blocknet needs 2500 BTC or why 1 million dollars. Just wanted to clarify that the Blocknet foundation isnt requesting and doesnt need this much it is simply the maximum amount that could be donated during the ITO. I think we all agree that 2500 BTC is an ambitious goal, but its a good idea because if less is donated, the extra shares are destroyed and everyone who donated now has a larger share.
Think about what would happen if the ITO had a max amount of shares that equaled 500 BTC and that total was reached halfway through the ITO, then you'd be left with people upset that they missed the opportunity to buy shares and the Blocknet would lose all that additional funding. So its good that the bar is set high just in case.
|
Co-Founder, the Blocknet
|
|
|
|
KimmyF
|
|
October 22, 2014, 09:12:16 AM |
|
People complaining about the ICO and calling it a scam needs to compare Blocknet to Supernet.
Supernet raised something like 5700+/- btc for their ICO and they require 10% of the supported coins to be controlled by Supernet. Blocknet is only looking to raise 2500btc at most and will destroy anything not sold. All participating coins join for free. They do not require 10% of the chosen coin's supply to join. Blocknet is not selling or using a central currency like Supernet's BitcoinDark. Participating coins work with each other directly.
The amount of funds raised by Blocknet is only a fraction of the overall funds raised and controlled by Supernet.
Also, there are a lot people that keep calling Blocknet, XC or XC's project. Blocknet is not just XC. Dan from XC proposed it and I guess you could say he is heading the project but its not just XC like everyone tries to make it. Its an open project between participating coins. All the devs will be working on it and towards the overall goals.
Another note... There are a lot of complaints/concerns about some of the coins involved being 'whale coins' or controlled by pump and dump groups. For a few of the coins that is true but you can also say that about almost any coins. They almost all have their whales and their pump and dumps. Its just part of the scene right now. Here's something to consider though. While the coin supply may be controlled by a few, I think the coins themselves are not what is drawn to the Blocknet project. I think the competent devs behind the coins and some of the potential tech that the coin offers is why they are part of the project. If you didn't add a coin because of who owned the actual coins, you wouldn't have much to pick from.
If it all comes together, it could be a pretty cool deal. If not, there will be plenty of you ready to attack so I'm sure they'll pull it together.
Don't think anything will change as long as the teams from the other coins stay silent. come on, let me meet there dev's & PR people. The perception its an XC project is only enforced by the fact that i only see the XC team in here communicating |
|
|
|
|
halumpalumpa
Member
Offline
Activity: 115
Merit: 10
|
|
October 22, 2014, 09:14:09 AM |
|
I will take a look at it, seems so interesting
|
|
|
|
|
dan7777777
Member
Offline
Activity: 84
Merit: 10
|
|
October 22, 2014, 09:20:19 AM |
|
In other news...
The ITO will also be taking place on Bter!
Great! |
|
|
|
|
synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
|
|
October 22, 2014, 09:24:51 AM |
|
In other news...
The ITO will also be taking place on Bter!
Great! Will I be able to buy using the coins listed or does it have to be Bitcoin? You can buy Blocknet tokens using any participating coin. At Bter and Bittrex there will probably only be a BTC:BLOCK pairing. At Poloniex there will probably be a BTC:BLOCK and NHZ:BLOCK pairing. At CoinGateway all the other coins will be paired to BLOCK. After the ITO, only BTC:BLOCK pairings will be available (because it makes no sense for participating coins to trade against the Blocknet when they function to give value to the Blocknet). |
Co-Founder, the Blocknet
|
|
|
|
Changeispermanent
|
|
October 22, 2014, 09:28:15 AM |
|
^^ In how many days after ITO will the trading of Block/BTC begin?
|
|
|
|
|
dan7777777
Member
Offline
Activity: 84
Merit: 10
|
|
October 22, 2014, 09:43:50 AM |
|
In other news...
The ITO will also be taking place on Bter!
Great! Will I be able to buy using the coins listed or does it have to be Bitcoin? You can buy Blocknet tokens using any participating coin. At Bter and Bittrex there will probably only be a BTC:BLOCK pairing. At Poloniex there will probably be a BTC:BLOCK and NHZ:BLOCK pairing. At CoinGateway all the other coins will be paired to BLOCK. After the ITO, only BTC:BLOCK pairings will be available (because it makes no sense for participating coins to trade against the Blocknet when they function to give value to the Blocknet). Any chance that Stealthcoin will be matched to BLOCK on Bittrex? Would really help me out lol! |
|
|
|
|
synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
|
|
October 22, 2014, 09:51:20 AM |
|
^^ In how many days after ITO will the trading of Block/BTC begin?
The Block:BTC pairings will begin at the start of the ITO and will never stop. The ITO is just a sell wall on a pairing. |
Co-Founder, the Blocknet
|
|
|
synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
|
|
October 22, 2014, 09:52:05 AM |
|
In other news...
The ITO will also be taking place on Bter!
Great! Will I be able to buy using the coins listed or does it have to be Bitcoin? You can buy Blocknet tokens using any participating coin. At Bter and Bittrex there will probably only be a BTC:BLOCK pairing. At Poloniex there will probably be a BTC:BLOCK and NHZ:BLOCK pairing. At CoinGateway all the other coins will be paired to BLOCK. After the ITO, only BTC:BLOCK pairings will be available (because it makes no sense for participating coins to trade against the Blocknet when they function to give value to the Blocknet). Any chance that Stealthcoin will be matched to BLOCK on Bittrex? Would really help me out lol! No, not that I'm aware of. |
Co-Founder, the Blocknet
|
|
|
|
Changeispermanent
|
|
October 22, 2014, 10:18:24 AM |
|
^^ In how many days after ITO will the trading of Block/BTC begin?
The Block:BTC pairings will begin at the start of the ITO and will never stop. The ITO is just a sell wall on a pairing. So, once the ITO is sold out completely, you can start trading blocknet shares for BTC? |
|
|
|
|
synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
|
|
October 22, 2014, 10:23:29 AM |
|
^^ In how many days after ITO will the trading of Block/BTC begin?
The Block:BTC pairings will begin at the start of the ITO and will never stop. The ITO is just a sell wall on a pairing. So, once the ITO is sold out completely, you can start trading blocknet shares for BTC? Yup. This will continue at traditional exchanges until the Blocknet's tech is ready to pay fees to holders, at which point Blocknet tokens can be redeemed at the NHZ asset exchange. |
Co-Founder, the Blocknet
|
|
|
|
ndrog
|
|
October 22, 2014, 10:25:29 AM |
|
Will the ITO be available for purchase @ the NHZ asset exchange or only available on the exchnages mentioned before? If it will be available on the NHZ AE, will the 10% discount still apply? thanks
|
|
|
|
synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
|
|
October 22, 2014, 10:27:47 AM |
|
Will the ITO be available for purchase @ the NHZ asset exchange or only available on the exchnages mentioned before? If it will be available on the NHZ AE, will the 10% discount still apply? thanks
This is not confirmed yet, since people who buy at the asset exchange may have trouble trading their tokens against BTC at other exchanges. If tokens are available at the asset exchange, the 10% discount will apply. |
Co-Founder, the Blocknet
|
|
|
|
ndrog
|
|
October 22, 2014, 10:31:09 AM |
|
Will the ITO be available for purchase @ the NHZ asset exchange or only available on the exchnages mentioned before? If it will be available on the NHZ AE, will the 10% discount still apply? thanks
This is not confirmed yet, since people who buy at the asset exchange may have trouble trading their tokens against BTC at other exchanges. If tokens are available at the asset exchange, the 10% discount will apply. Ok, keep us posted on that  |
|
|
|
|
