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

[dankkk]

So,
- Only using coingateway we have 10% of discounts?? We need use xc or any blocknet coin?
- The price of the coins we use will be determined at the time of investment or when the ITO ends?

thanks

[1714742974]

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[atcsecure]

All pumped up for tomorrow  Is it a matter of hours for us to download the wallet?

The wallet will be released tomorrow morning when the ITO Launches at 5AM EST

Oh, I thought it would be available for download at some point today, to avoid tomorrow's download panic.
Will the wallet be available on the blocknet site only or will be uploaded at various 3rd party download sites?

Valid point, so I will make the wallet available tonight

Dan

[atcsecure]

So,
- Only using coingateway we have 10% of discounts?? We need use xc or any blocknet coin?
- The price of the coins we use will be determined at the time of investment or when the ITO ends?

thanks

Any blocknet coin, and the price will be determined at the time of investment

[dan7777777]

I thought the wallet would be available beforehand too. I asked many times and never once was it mentioned that it would only be available at the same time as the IPO.  I needed to know my wallet address before I went to work as the start time is 9.00am in the UK. I needed it tonight. Am still hoping for a PM from the team.

At what time can I create a wallet for the tokens on Bittrex and how do I do this?

[mxxxxxx]

According to ITO rules " Shares purchased using a participating coin will be sold at a 10% discount. "

How does this work?

You will be able to buy BlockNet tokens at a 10% discount with participating coins through Coingateway.net

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.

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.

Well i have BTC, LTC and Quark too bad they aren't part of the participating coins, i'll just buy some with BTC

Well , if you are interested in investing in BlockNet, i think you should research participating coins too, there is still time to get some

You will be able to earn additional revenues not only from fees/dividends from BlockNet shares but also from participating coins services on BlockNet

[mxxxxxx]

All pumped up for tomorrow   Is it a matter of hours for us to download the wallet?

The wallet will be released tomorrow morning when the ITO Launches at 5AM EST

Oh, I thought it would be available for download at some point today, to avoid tomorrow's download panic.
Will the wallet be available on the blocknet site only or will be uploaded at various 3rd party download sites?

Valid point, so I will make the wallet available tonight

Dan

Great , thanks Dan

I thought the wallet would be available beforehand too. I asked many times and never once was it mentioned that it would only be available at the same time as the IPO.  I needed to know my wallet address before I went to work as the start time is 9.00am in the UK. I needed it tonight. Am still hoping for a PM from the team.

At what time can I create a wallet for the tokens on Bittrex and how do I do this?

Change of plans the wallet will be available tonight

[Lyricz]

All pumped up for tomorrow  Is it a matter of hours for us to download the wallet?

The wallet will be released tomorrow morning when the ITO Launches at 5AM EST

Oh, I thought it would be available for download at some point today, to avoid tomorrow's download panic.
Will the wallet be available on the blocknet site only or will be uploaded at various 3rd party download sites?

Valid point, so I will make the wallet available tonight

Dan

that sounds perfect, thanks

[dan7777777]

All pumped up for tomorrow   Is it a matter of hours for us to download the wallet?

The wallet will be released tomorrow morning when the ITO Launches at 5AM EST

Oh, I thought it would be available for download at some point today, to avoid tomorrow's download panic.
Will the wallet be available on the blocknet site only or will be uploaded at various 3rd party download sites?

Valid point, so I will make the wallet available tonight

Dan

Great , thanks Dan

I thought the wallet would be available beforehand too. I asked many times and never once was it mentioned that it would only be available at the same time as the IPO.  I needed to know my wallet address before I went to work as the start time is 9.00am in the UK. I needed it tonight. Am still hoping for a PM from the team.

At what time can I create a wallet for the tokens on Bittrex and how do I do this?

Change of plans the wallet will be available tonight

Cool!  What time? Its already 7.30pm here in the UK.  Cheers!

[xizmax]

Dont you sell out on me, I havent accumulated nearly enough participating coins to get as much BLOCK as Id like

[BitcoiNaked]

According to ITO rules " Shares purchased using a participating coin will be sold at a 10% discount. "

How does this work?

You will be able to buy BlockNet tokens at a 10% discount with participating coins through Coingateway.net

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.

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.

Well i have BTC, LTC and Quark too bad they aren't part of the participating coins, i'll just buy some with BTC

Well , if you are interested in investing in BlockNet, i think you should research participating coins too, there is still time to get some

You will be able to earn additional revenues not only from fees/dividends from BlockNet shares but also from participating coins services on BlockNet

Sure, any other coins that are on the list to be added?

[mxxxxxx]

So,
- Only using coingateway we have 10% of discounts?? We need use xc or any blocknet coin?
- The price of the coins we use will be determined at the time of investment or when the ITO ends?

thanks

You can use any of the participating coins XC, FIBRE, XCASH, XST ,LXC, SWIFT, APEX, UTIL, SSD, NHZ

The price will be determined at the time of investment

[mxxxxxx]

According to ITO rules " Shares purchased using a participating coin will be sold at a 10% discount. "

How does this work?

You will be able to buy BlockNet tokens at a 10% discount with participating coins through Coingateway.net

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.

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.

Well i have BTC, LTC and Quark too bad they aren't part of the participating coins, i'll just buy some with BTC

Well , if you are interested in investing in BlockNet, i think you should research participating coins too, there is still time to get some

You will be able to earn additional revenues not only from fees/dividends from BlockNet shares but also from participating coins services on BlockNet

Sure, any other coins that are on the list to be added?

I would like definitely to see Xbridge implemented in BTC some day

[BitcoiNaked]

According to ITO rules " Shares purchased using a participating coin will be sold at a 10% discount. "

How does this work?

You will be able to buy BlockNet tokens at a 10% discount with participating coins through Coingateway.net

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.

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.

Well i have BTC, LTC and Quark too bad they aren't part of the participating coins, i'll just buy some with BTC

Well , if you are interested in investing in BlockNet, i think you should research participating coins too, there is still time to get some

You will be able to earn additional revenues not only from fees/dividends from BlockNet shares but also from participating coins services on BlockNet

Sure, any other coins that are on the list to be added?

I would like definitely to see Xbridge implemented in BTC some day

How hard is it to implement other coin?

[kingbtcvl]

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.

sorry, but it would not really make sense for a whale to dump NHZ with just the pure hope of panic sellers in order to get more NHZ to get more tokens. besides the fact that this is not even garuanteed to work out, simple considerations show that pumping would be a good option and dumping not really:
if a whale pumped the BTC/NHZ price then the NHZ/token price would decrease (as the BTC/token price is set to 2500 satoshi), which means the whale could buy much more token for his NHZ. whereas if a whale dumped the BTC/NHZ price (and bought back chepaer) he would not necesessarilly get more token because a lower BTC/NHZ price means a higher HHZ/token price.

[mxxxxxx]

According to ITO rules " Shares purchased using a participating coin will be sold at a 10% discount. "

How does this work?

You will be able to buy BlockNet tokens at a 10% discount with participating coins through Coingateway.net

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.

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.

Well i have BTC, LTC and Quark too bad they aren't part of the participating coins, i'll just buy some with BTC

Well , if you are interested in investing in BlockNet, i think you should research participating coins too, there is still time to get some

You will be able to earn additional revenues not only from fees/dividends from BlockNet shares but also from participating coins services on BlockNet

Sure, any other coins that are on the list to be added?

I would like definitely to see Xbridge implemented in BTC some day

How hard is it to implement other coin?

The XBridge will be open source tech. Anyone can add it to their code.

The plan is to create an internet of blockchains; therefore the architecture we create will be indefinitely extensible and not centrally controlled.

However, at least initially (and potentially for the indefinite future) we also require that coins be ratified by the Blocknet Foundation. This is in order to exclude "scamcoins" and to make it unviable for them to compete against Blocknet-enabled coins.

its a big difference... this for example essential means that btc will never join and therefor MANY coins cannot be exchanged.

Anyone could create a Blocknet-enabled BTC wallet.

[mxxxxxx]

How much fees BLOCK-holders do earn per token and when is this feature available?

Fees: service providers are free to set any fee they want for a service, and nodes that provide the service keep the fee.
In addition, service providers pay Blocknet fees, and it is this that is paid to shareholders.
This will be a microfee, but its value has not yet been set, due to the fact that we're not yet sure how many instances of Blocknet-fee-charging are likely to occur across a broad range of services. The idea is that a fee will be charged for a given function that the XBridge performs; certain services might require very small or very large numbers of functions, and we will first need to be able to model this before we can create fee structures that track both the cost to the Blocknet of delivering the service and the value of the service to clients.

Project schedule is included in latest update

The Blocknet: budget, development plans and accountability measures:

Download now!

[dan7777777]

Any sign of the wallet yet? Going to bed in about 30 mins.

[mxxxxxx]

Any sign of the wallet yet? Going to bed in about 30 mins.

Not yet , Dan said tonight and i think he meant EST time zone

[dan7777777]

O.K. will go to bed now and get up early. How do I set up a wallet on BITREX to keep my tokens in?

[mxxxxxx]

O.K. will go to bed now and get up early. How do I set up a wallet on BITREX to keep my tokens in?

When you buy BlockNet tokens you will just see them at once in your Wallets tab , if you want to send your BlockNet tokens from Coingateway just create deposit address for BLOCK on Bittrex when it is available