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

[RoHoss]

Buy NHZ on Poloniex - You get 10 % discount for Blocknet shares if you buy with NHZ.

[mujecurejo]

https://www.cryptocoinsnews.com/sec-sends-inquiry-letters-hundreds-bitcoin-companies-unregistered-securities/

I hope you guys have registered... Apparently these ITOs aren't legal ^_^

[kingbtcvl]

could you please explain how the 10 % discount using any of the participating coins will be managed exactly?
considering for example the nhz:block pair on poloniex when and how will the its price be determined? will it be a fixed price or will automatically adjust to the current btc:nhz price?

You will be able to buy with participating coins at a 10% discount through Coingateway , it is very simple to use

You don`t have to register there , you're given an address to pay your participating coin to, and you enter an address to receive BLOCK tokens

The reason for this is that only BLOCK:BTC pairings will persist after the ITO. Exchanges won't be keen to add a pile of new pairings only to remove them shortly afterwards. Unless exchanges decide to do any additional pairing.

For pricing, we'll pick prices of Blocknet tokens at the start time of the ICO based on a recent average (exact algorithm TBD). Then we'll deduct 10%, and put up a sell wall there.

Any discrepancies in price between coins will be arbitraged by traders, and so the market will converge on a 10% discount no matter what coin you use.

Supply of BLOCK tokens will be distributed accordingly , supplies will be moved from one place to another if it is needed

thanks for your answer. one last question concerning the pricing using the NHZ example again:
what does prevent a NHZ whale from pumping the BTC/NHZ price and putting a decent buy wall a few hours before the ito starts increasing its recent average such that the token/NHZ price will be determined to his favour and then selling a lot of NHZ for an awesome price. i mean the buyers of the NHZ wont have any disadvantages as in that case the token/NHZ price is determined so that they can buy the blocknet token for the 10% discount, so that they actually wont care about the high BTC/NHZ price.

[mav137]

https://www.cryptocoinsnews.com/sec-sends-inquiry-letters-hundreds-bitcoin-companies-unregistered-securities/

I hope you guys have registered... Apparently these ITOs aren't legal ^_^

This.

Screw the US if they don't want to innovate, they can't stop a decentralized organization from acquiring funds from the rest of the world.

I'll be buying!

[synechist]

https://www.cryptocoinsnews.com/sec-sends-inquiry-letters-hundreds-bitcoin-companies-unregistered-securities/

I hope you guys have registered... Apparently these ITOs aren't legal ^_^

This.

We consulted with participating exchanges prior to this and they are completely comfortable with the legality of the ITO.


Speaking personally now, what serves as a continual source of fascination is how US organisations seem not to notice that their jurisdiction ends at national boundaries.

The Blocknet is not an organisation or a business. It's a network.

It exists everywhere and nowhere. It does not exist in the US.

If you're based in the US and buy Blocknet tokens, this does not mean that you bought them *in* the US, because the tokens don't exist in the US, ever.
(They don't even exist in the US if you put them on a paper wallet, because paper wallets are just proofs of ownership of an entry in a blockchain, and the blockchain doesn't exist in the US.)

(Also, we're not offering securities. We're offering digital tokens, which are the denomination in which service provider fees are paid.)

[synechist]

could you please explain how the 10 % discount using any of the participating coins will be managed exactly?
considering for example the nhz:block pair on poloniex when and how will the its price be determined? will it be a fixed price or will automatically adjust to the current btc:nhz price?

You will be able to buy with participating coins at a 10% discount through Coingateway , it is very simple to use

You don`t have to register there , you're given an address to pay your participating coin to, and you enter an address to receive BLOCK tokens

The reason for this is that only BLOCK:BTC pairings will persist after the ITO. Exchanges won't be keen to add a pile of new pairings only to remove them shortly afterwards. Unless exchanges decide to do any additional pairing.

For pricing, we'll pick prices of Blocknet tokens at the start time of the ICO based on a recent average (exact algorithm TBD). Then we'll deduct 10%, and put up a sell wall there.

Any discrepancies in price between coins will be arbitraged by traders, and so the market will converge on a 10% discount no matter what coin you use.

Supply of BLOCK tokens will be distributed accordingly , supplies will be moved from one place to another if it is needed

thanks for your answer. one last question concerning the pricing using the NHZ example again:
what does prevent a NHZ whale from pumping the BTC/NHZ price and putting a decent buy wall a few hours before the ito starts increasing its recent average such that the token/NHZ price will be determined to his favour and then selling a lot of NHZ for an awesome price. i mean the buyers of the NHZ wont have any disadvantages as in that case the token/NHZ price is determined so that they can buy the blocknet token for the 10% discount, so that they actually wont care about the high BTC/NHZ price.

What prevents whales pumping NHZ is that other whales could equally cause NHZ to dump, buy them cheap, and get more ITO tokens.

Ultimately what the ITO means is that the value of participating currencies tracks the exchange rate of BLOCK. Any deviation up or down gives rise to arbitration opportunities between participating currencies, so their prices will all converge around their price relative to BLOCK.

[Revelation]

Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past, however you are just PR people. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?

[msfs]

Monitoring this thread with interest!

[panonym]

You should report the ITO. Be it for a week. Etablish clear rule & organisation first.
There will be ten million tokens. Original value = 0.00025 BTC each.
Beside that it's mystery. Less than 24h, 875k$ limit...

The technology for decentralized ITO isn't there yet. BlockNet is suppose to provide it.

I'm surprise nobody asked these question: [Though I haven't read everything yet]
- Concerning the BTC exchange, what will be it's % distribution between Bittrex, Bter, Poloniex and CoinGateway?
- Then what will be the % distribution of the ITO between BTC, XC and the other coin?
The 10% discount appear nice at first [mostly for the original miners though], but it will just result in the most messy ITO of the cryptohistory.
It would be a shame for such a promizing project.

Much simplier & neat to strictly stick to BTC, and a single centralized provider such as Bittrex.

BTC hold in multisign a plus. Usage prediction a must.

----

Additional note from an outsider of your BlockNetwork (strictly my own point of view here):
Fare distributed NEM - "NXT 2.0" tech - feel much more appropriate for the "Web 3.0" than NHZ, a NXT copycat with dubious distribution. Though that may be unimportant as the temporary-original-token could just be switched on any exchange-platform, later, as I understood.

Disclamer:
Never been a miner, kind of NXT hater, no holding in any of your BlockPartner.

[mxxxxxx]

Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?

We are doing it for free as we see huge potential in this awesome project and great long term investment

We will be buying BlockNet shares like everyone else

None of BTC ITO goes to our pockets

Cheers

[synechist]

Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?

We are doing it for free as we see huge potential in this awesome project and great long term investment

We will be buying BlockNet shares like everyone else

None of BTC ITO goes to our pockets

Cheers

This is true for me too. I work for XCurrency and am not paid by the Blocknet.

[WhiteNotWright]

Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?

Dear Revelation,

These folks are here answering the questions folks are asking about and is very much appreciated. Otherwise all we have are folks rambling on about things that don't really matter with an agenda I fail to understand. This Blocknet is beneficial to the entire alt community, not just a few of the coins already chartered or people that have spent countless hours putting this together. We need answers and we are getting them from the proper channels.

[synechist]

I'm surprise nobody asked these question: [Though I haven't read everything yet]
- Concerning the BTC exchange, what will be it's % distribution between Bittrex, Bter, Poloniex and CoinGateway?
- Then what will be the % distribution of the ITO between BTC, XC and the other coin?
The 10% discount appear nice at first [mostly for the original miners though], but it will just result in the most messy ITO of the cryptohistory.
It would be a shame for such a promizing project.

Much simplier & neat to strictly stick to BTC, and a single centralized provider such as Bittrex.

We'll be releasing some details about the distribution of tokens later today.

Distribution can also be modified as the ITO continues and we watch volumes on various pairings and exchanges.

I don't think that the 10% discount will make the ITO messy.

[Revelation]

Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?

Dear Revelation,

These folks are here answering the questions folks are asking about and is very much appreciated. Otherwise all we have are folks rambling on about things that don't really matter with an agenda I fail to understand. This Blocknet is beneficial to the entire alt community, not just a few of the coins already chartered or people that have spent countless hours putting this together. We need answers and we are getting them from the proper channels.

They are selective in responding to the questions. Anything regarding minimum amount necessary for the project, buy wall after the ITO etc. are being ignored. Coca-Cola type PR.

[WhiteNotWright]

Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?

Dear Revelation,

These folks are here answering the questions folks are asking about and is very much appreciated. Otherwise all we have are folks rambling on about things that don't really matter with an agenda I fail to understand. This Blocknet is beneficial to the entire alt community, not just a few of the coins already chartered or people that have spent countless hours putting this together. We need answers and we are getting them from the proper channels.

They are selective in responding to the questions. Anything regarding minimum amount necessary for the project, buy wall after the ITO etc. are being ignored. Coca-Cola type PR.

OK, thanks for the input, much appreciated.

[mxxxxxx]

Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?

Dear Revelation,

These folks are here answering the questions folks are asking about and is very much appreciated. Otherwise all we have are folks rambling on about things that don't really matter with an agenda I fail to understand. This Blocknet is beneficial to the entire alt community, not just a few of the coins already chartered or people that have spent countless hours putting this together. We need answers and we are getting them from the proper channels.

They are selective in responding to the questions. Anything regarding minimum amount necessary for the project, buy wall after the ITO etc. are being ignored. Coca-Cola type PR.

I hope todays update will satisfy you more

cheers

[dan7777777]

Dear synechist and mxxxxxx,
over the last 7 days you have spent significant amount of time on this thread marketing the ITO. Typically, this is something that the devs were doing in the past. What is your salary and how much BTC from the ITO will go to your pockets paying for your services? Are you gonna provide this information in your full BTC transparency?

Dear Revelation,

These folks are here answering the questions folks are asking about and is very much appreciated. Otherwise all we have are folks rambling on about things that don't really matter with an agenda I fail to understand. This Blocknet is beneficial to the entire alt community, not just a few of the coins already chartered or people that have spent countless hours putting this together. We need answers and we are getting them from the proper channels.

They are selective in responding to the questions. Anything regarding minimum amount necessary for the project, buy wall after the ITO etc. are being ignored. Coca-Cola type PR.

I hope todays update will satisfy you more

cheers

What time today approx? 

Also, this all seems a bit of a sprint to the finish line. Maybe it would be an idea to put the ITO back a few days so nothing is rushed?

[racer2012]

So we will get blocknet wallets today for home as well for bittrex
And once all Ito is sold we have to wait right?
After that we can trade Ito for NHZ
Hope we have step by step options
And hope all coins in blocknet value shoot up

[Revelation]

They are selective in responding to the questions. Anything regarding minimum amount necessary for the project, buy wall after the ITO etc. are being ignored. Coca-Cola type PR.

I wonder which bitcointalk wannabe Trading Genius first came up with this buy wall NONSENSE...  he/she/it must have had a lot of trading hours experience in NASDAQ, NYSE, FOREX, etc...  NOT  

I personally have a lot of trading experience on the above mentioned markets. Comparing ITO/IPO/ICO in crypto to financial IPOs is nonsense, as the amount of due diligence done by investment banks, auditors etc. is very comprehensive. Oh, and by the way, the greenshoe (over-allotment) option does create a buy wall. It is typically 10-15% of the offered amount.  Also, financial IPOs are never 100%, whereas in crypto "devs" are selling everything. This is just ridiculous.

[mxxxxxx]

So we will get blocknet wallets today for home as well for bittrex
And once all Ito is sold we have to wait right?
After that we can trade Ito for NHZ
Hope we have step by step options
And hope all coins in blocknet value shoot up

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