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

[synechist]

If, despite this, it's still an issue, there are lots of bot algorithms that can drive up volume and/or reduce the spread. These sorts of market maker bots - or, for that matter, regular ol' human scalpers – would remove the problem.

Finally, the Blocknet will support an entire economy of services; liquidity will be, at best, an initial problem.

the same market maker bots are working currently on all exchanges (i ran one on polo) and they dont solve the slippage problem.

why do you think that this would be better with your p2p-exchange?

seriously: i dont want to downtalk your project. i just want to see if it is useful (atm i dont think so: but PLEASE convince me

If exchanges are useful to you (and by the sound of things they are) then why would the Blocknet somehow not be useful, especially if it massively increases usage of coins, thereby reducing slippage?

Also, the slippage problem only applies to transactions above a certain size. Microtransactions for services won't be affected.

So *even* if the Blocknet doesn't increase volume and liquidity, there's still no problem for microtransactions (i.e. service fees).

 

[synechist]

REALLY need to get the wallet ASAP.  I will be at work for the start of the sale so will need to know my wallet address as my wallet will be on my home PC and not at work.  PLEASE, when will the wallet be available?

The wallet will be made available in due time before the ITO.

[onemorebtc]

If, despite this, it's still an issue, there are lots of bot algorithms that can drive up volume and/or reduce the spread. These sorts of market maker bots - or, for that matter, regular ol' human scalpers – would remove the problem.

Finally, the Blocknet will support an entire economy of services; liquidity will be, at best, an initial problem.

the same market maker bots are working currently on all exchanges (i ran one on polo) and they dont solve the slippage problem.

why do you think that this would be better with your p2p-exchange?

seriously: i dont want to downtalk your project. i just want to see if it is useful (atm i dont think so: but PLEASE convince me

If exchanges are useful to you (and by the sound of things they are) then why would the Blocknet somehow not be useful, especially if it massive increases usage of coins, thereby reducing slippage?

Also, the slippage problem only applies to transactions above a certain size. Microtransactions for services won't be affected.

So *even* if the Blocknet doesn't increase volume and liquidity, there's still no problem for microtransactions (i.e. service fees).

 

i like your exchange: but there are already other ones - and yes even p2p ones like nxt.

your project is intersting to me because it allows me to use other coins features without actually holding them (eg the SMS send feature you mentioned).

but this will require an automatic conversion from and to my base currency. this two exchanges will cost me money (spread) as no one will have a sell and a buy order at the same price (it isnt even possible btw as they would match each other)

so i only can see this as an additional fee from the user perspective and as a way to get money from a market maker pov.

and atm the spreads in altcoins are really BIG ( i have seen way more than 20% loss just for a back and forth conversion)

if you have an incentive for a market maker to make the spread as small as possible this wouldnt be a big issue: but i dont see any (i mean any more incentives as with the current exchanges)

[synechist]

McHammer, some of your posts were deleted either for being abusive or for ignoring my answer to your question and repeating your (abusively worded) complaint.

I answered your other questions though, and you're very welcome to continue discussing them.

[battbot]

What sort of transparency & accountability will be in place after the ITO in regards to the funds raised?  

[dan7777777]

REALLY need to get the wallet ASAP.  I will be at work for the start of the sale so will need to know my wallet address as my wallet will be on my home PC and not at work.  PLEASE, when will the wallet be available?

It will be available before the ITO starts

The day before?  If its the same day then I am fucked.

[mxxxxxx]

REALLY need to get the wallet ASAP.  I will be at work for the start of the sale so will need to know my wallet address as my wallet will be on my home PC and not at work.  PLEASE, when will the wallet be available?

It will be available before the ITO starts

The day before?  If its the same day then I am fucked.

If you are going to buy tokens with participating coins through coingateway you will be able to send tokens for example to your Bittrex wallet

[cryptico]

So then the Community suggestion by GER about a partial ITO funding at the beginning of the ITO and then milestones funding was not taken into account?

Can you clarify on that?

Did not gave credit to the ones that were saying that this project will dilute yours and Dan job with XC...guess I was wrong.

[dan7777777]

REALLY need to get the wallet ASAP.  I will be at work for the start of the sale so will need to know my wallet address as my wallet will be on my home PC and not at work.  PLEASE, when will the wallet be available?

It will be available before the ITO starts

The day before?  If its the same day then I am fucked.

If you are going to buy tokens with participating coins through coingateway you will be able to send tokens for example to your Bittrex wallet

ok. thanks

[Edward_Cryptonit]

1) How long will the ITO?
2) When we can to sell our tokens? When the ITO finish or when blocknet be released?
3) Blocknet ETA?

1) You can find this info at http://theblocknet.com/ :

The Blocknet's ITO will begin on 5am EST Oct 29th and run until November 5th 23:59:00.

2) no info
3) no info

@synechist
I really want to invest in the blocknet, but you have to provide us more informations asap! Who controls that only 10 000 000 tokens will be generated? Will be the code completly open source?

The Blocknet's ITO will begin on 5am EST Oct 29th and run until November 5th 23:59:00

The tokens will initially be created on a regular blockchain, only 10 000 000 tokens will be created

After the ITO, any unsold tokens will be provably destroyed

You will be able to withdraw your tokens to wallet which is to be released before the ITO starts

The BLOCK/BTC pairs will stay on exchanges after the ITO and will be still tradeable

For owning BlockNet shares you will be getting dividends/fees from BlockNet.

Funds are used to develop a lot of next-gen software (i.e. the XBridge, decentralised exchange, application platform, etc.)

Funds will be used to enter the B2B market for various services (expect an executive summary regarding this pretty soon, which will include budgetary information and a roadmap)

BLOCK-holder profits come directly from the intrinsic functioning of the Blocknet - i.e. through the rendering of services

Blocknet is a software platform development project, coupled with make-money-from-services model for token holders.

Here's a list of reasons why Blocknet tokens are worth buying.


Section 1: The Blocknet is the internet of blockchains; it provides what crypto needs most:

- a feasibly-sized userbase for coins, so their tech can actually get used

- a platform to turn coins' tech into services, so tech can generate revenue

- a method of converting all of crypto into a B2B services offering of incredible power

As such, the Blocknet stands to change the entire landscape of crypto, and become a foundational pillar of crypto for the indefinite future.


Section 2: shareholders get to profit from the Blocknet's status as a foundational pillar:

- holders receive income from fees

- holders profit if their tokens increase in value

Thank you for the answers. Could you please though state explicilty whether the code will be open source? (as it was asked in the initial qustion also). As far as I understood the Xbridge protocol will be open source. However the blocknet will be made of some other components as well? Will they be open source?

Kind regards and looking forward to the reply on this question. Thank you.

[synechist]

1) How long will the ITO?
2) When we can to sell our tokens? When the ITO finish or when blocknet be released?
3) Blocknet ETA?

1) You can find this info at http://theblocknet.com/ :

The Blocknet's ITO will begin on 5am EST Oct 29th and run until November 5th 23:59:00.

2) no info
3) no info

@synechist
I really want to invest in the blocknet, but you have to provide us more informations asap! Who controls that only 10 000 000 tokens will be generated? Will be the code completly open source?

The Blocknet's ITO will begin on 5am EST Oct 29th and run until November 5th 23:59:00

The tokens will initially be created on a regular blockchain, only 10 000 000 tokens will be created

After the ITO, any unsold tokens will be provably destroyed

You will be able to withdraw your tokens to wallet which is to be released before the ITO starts

The BLOCK/BTC pairs will stay on exchanges after the ITO and will be still tradeable

For owning BlockNet shares you will be getting dividends/fees from BlockNet.

Funds are used to develop a lot of next-gen software (i.e. the XBridge, decentralised exchange, application platform, etc.)

Funds will be used to enter the B2B market for various services (expect an executive summary regarding this pretty soon, which will include budgetary information and a roadmap)

BLOCK-holder profits come directly from the intrinsic functioning of the Blocknet - i.e. through the rendering of services

Blocknet is a software platform development project, coupled with make-money-from-services model for token holders.

Here's a list of reasons why Blocknet tokens are worth buying.


Section 1: The Blocknet is the internet of blockchains; it provides what crypto needs most:

- a feasibly-sized userbase for coins, so their tech can actually get used

- a platform to turn coins' tech into services, so tech can generate revenue

- a method of converting all of crypto into a B2B services offering of incredible power

As such, the Blocknet stands to change the entire landscape of crypto, and become a foundational pillar of crypto for the indefinite future.


Section 2: shareholders get to profit from the Blocknet's status as a foundational pillar:

- holders receive income from fees

- holders profit if their tokens increase in value

Thank you for the answers. Could you please though state explicilty whether the code will be open source? (as it was asked in the initial qustion also). As far as I understood the Xbridge protocol will be open source. However the blocknet will be made of some other components as well? Will they be open source?

Kind regards and looking forward to the reply on this question. Thank you.

Hi Edward

Yes the Blocknet will be open source. This is necessary for it to be an open and indefinitely extensible platform, like the internet.

On the other hand, no participating coins (i.e. service providers) are required to be open source.

[synechist]

If, despite this, it's still an issue, there are lots of bot algorithms that can drive up volume and/or reduce the spread. These sorts of market maker bots - or, for that matter, regular ol' human scalpers – would remove the problem.

Finally, the Blocknet will support an entire economy of services; liquidity will be, at best, an initial problem.

the same market maker bots are working currently on all exchanges (i ran one on polo) and they dont solve the slippage problem.

why do you think that this would be better with your p2p-exchange?

seriously: i dont want to downtalk your project. i just want to see if it is useful (atm i dont think so: but PLEASE convince me

If exchanges are useful to you (and by the sound of things they are) then why would the Blocknet somehow not be useful, especially if it massive increases usage of coins, thereby reducing slippage?

Also, the slippage problem only applies to transactions above a certain size. Microtransactions for services won't be affected.

So *even* if the Blocknet doesn't increase volume and liquidity, there's still no problem for microtransactions (i.e. service fees).

 

i like your exchange: but there are already other ones - and yes even p2p ones like nxt.

your project is intersting to me because it allows me to use other coins features without actually holding them (eg the SMS send feature you mentioned).

but this will require an automatic conversion from and to my base currency. this two exchanges will cost me money (spread) as no one will have a sell and a buy order at the same price (it isnt even possible btw as they would match each other)

so i only can see this as an additional fee from the user perspective and as a way to get money from a market maker pov.

and atm the spreads in altcoins are really BIG ( i have seen way more than 20% loss just for a back and forth conversion)

if you have an incentive for a market maker to make the spread as small as possible this wouldnt be a big issue: but i dont see any (i mean any more incentives as with the current exchanges)

I think that an important point with regard to this matter is that its significance depends entirely on the service in question. Services that only require a one-way transaction will not have this as even a potential problem.

Equally important is the fact that the issue is entirely addressable by the design of any given service (i.e. by a coin, not by the Blocknet), and these services have not been designed/optimised for the Blocknet.

For example, if a service requires that coins be returned to the client, then they don't actually have to be exchanged, and so an escrow service might work better.

This would eliminate slippage and thereby present a competitive advantage to any service that offers it.

The point is that you're worried about something that is (a) readily surmountable and (b) hasn't arisen yet. You're pre-empting an issue and then worrying about it as if it's a real problem.

It isn't. In a free market of coin-based services, there'll be competition on a new level. Coins will have no problem inventing clever ways of rendering quality services and rising to the top of the pile.

[onemorebtc]

I think that an important point with regard to this matter is that its significance depends entirely on the service in question. Services that only require a one-way transaction will not have this as even a potential problem.

Equally important is the fact that the issue is entirely addressable by the design of any given service (i.e. by a coin, not by the Blocknet), and these services have not been designed/optimised for the Blocknet.

For example, if a service requires that coins be returned to the client, then they don't actually have to be exchanged, and so an escrow service might work better.

This would eliminate slippage and thereby present a competitive advantage to any service that offers it.

The point is that you're worried about something that is (a) readily surmountable and (b) hasn't arisen yet. You're pre-empting an issue and then worrying about it as if it's a real problem.

It isn't. In a free market of coin-based services, there'll be competition on a new level. Coins will have no problem inventing clever ways of rendering quality services and rising to the top of the pile.

i am just looking at the example you previously provided...which involved mutiple exchanges
ok we'll see...

edit: is there some kind of automatic (and possible trustfree) escrow possible with your design?

[synechist]

What sort of transparency & accountability will be in place after the ITO in regards to the funds raised?  

So then the Community suggestion by GER about a partial ITO funding at the beginning of the ITO and then milestones funding was not taken into account?

Can you clarify on that?

Did not gave credit to the ones that were saying that this project will dilute yours and Dan job with XC...guess I was wrong.

I've previously clarified (apologies for not linking to this... it might actually be on the OP though) that TheGer's suggestion is a good one and that we're looking at potential partners for a structured escrow service, potentially based around milestones. This isn't to say that we'll definitely find a suitable partner that we're completely comfortable we can trust, but it does mean that TheGer's suggestion is a good one.

So, in terms of transparency and accountability:
- spending will be reported by the Blocknet Foundation
- budget and development plans will be published (before the ITO and periodically afterwards)
- an escrow service structured around milestones (that includes an auditor) is being considered

Since it's in our interest to build up as much trust as possible between us and the public, we have every interest to excel at all of the above.

[synechist]

I think that an important point with regard to this matter is that its significance depends entirely on the service in question. Services that only require a one-way transaction will not have this as even a potential problem.

Equally important is the fact that the issue is entirely addressable by the design of any given service (i.e. by a coin, not by the Blocknet), and these services have not been designed/optimised for the Blocknet.

For example, if a service requires that coins be returned to the client, then they don't actually have to be exchanged, and so an escrow service might work better.

This would eliminate slippage and thereby present a competitive advantage to any service that offers it.

The point is that you're worried about something that is (a) readily surmountable and (b) hasn't arisen yet. You're pre-empting an issue and then worrying about it as if it's a real problem.

It isn't. In a free market of coin-based services, there'll be competition on a new level. Coins will have no problem inventing clever ways of rendering quality services and rising to the top of the pile.

i am just looking at the example you previously provided...which involved mutiple exchanges
ok we'll see...

edit: is there some kind of automatic (and possible trustfree) escrow possible with your design?

There are a couple of trustless escrow designs out there. I'm no expert on this, but one of the more interesting ones is Truthcoin. It's one of the most visionary ideas I've read in quite a while.

More pertinent to a simple service provider might be Blackhalo and this concept. No doubt there are a lot of other ideas out there too.

[onemorebtc]

There are a couple of trustless escrow designs out there. I'm no expert on this, but one of the more interesting ones is Truthcoin. It's one of the most visionary ideas I've read in quite a while.

More pertinent to a simple service provider might be Blackhalo and this concept. No doubt there are a lot of other ideas out there too.

which again would mean that i have to exchange my coins to use truthcoin.
i am out... if you want my money you need way more technical details instead just of promising returns.

maybe i'll come back when you are finished...

[synechist]

There are a couple of trustless escrow designs out there. I'm no expert on this, but one of the more interesting ones is Truthcoin. It's one of the most visionary ideas I've read in quite a while.

More pertinent to a simple service provider might be Blackhalo and this concept. No doubt there are a lot of other ideas out there too.

which again would mean that i have to exchange my coins to use truthcoin.
i am out... if you want my money you need way more technical details instead just of promising returns.

maybe i'll come back when you are finished...

No you wouldn't have to exchange your coins. Do you know what Truthcoin is?

It's not a "coin".

It's a way of creating distributed prediction markets.

[wasserman99]

the discount is only for coingateway?

Are there rewards for early investors? Or is it the same invest the first day or the last day?

[mxxxxxx]

the discount is only for coingateway?

Are there rewards for early investors? Or is it the same invest the first day or the last day?

Yes, you will be able to buy tokens with participating coins at 10% discount through coingateway only, unless some exchange does additional pairing but i don`t think so

10% discount through the whole ITO process

[flashbit]

the discount is only for coingateway?

Are there rewards for early investors? Or is it the same invest the first day or the last day?

Yes, you will be able to buy tokens with participating coins at 10% discount through coingateway only, unless some exchange does additional pairing but i don`t think so

10% discount through the whole ITO process

I thought bittrex would offer pairing for coins like BLOCK/XC for 10% discount, no?  Arlyn, is it only coingateway that you can get the discount?