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Revelation
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October 30, 2014, 03:22:06 PM |
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So the project needs 850 BTC to get all the features developed
It would be wise to leave all the remaining BTC to be held in escrow by the exchanges. These extra funds should be released only if the project would need more funding then the initial 850 BTC. If these funds are not needed exchanges might use em to support the price by putting up buywalls later. This will not allow the price to drop below ICO (who in the right mind would sell coins cheaper if there's a guarantee he/she will be able to sell em for ICO price)
Not to mention extra funds held in escrow would be an additional guarantee that dev is around and not abandoning the project
The entire amount, not just extra funds, will be escrowed and transparently spent. Check out the document on the OP. Click on the contents page, download it, and go to the "Accountability measures" section. I've red about it, but it isn't clear what person will be holding the funds? The entire dev team? I would trust bittrex to hold the funds in escrow Yes, we definitely won't leave the funds at Bittrex. We'll announce the details of whatever escrow plan we go for asap. The community will of course have opportunity to comment on our plan here, and maybe even improve on it. why not let bittrex hodl the funds? These guys are the most trusted people in entire crypto scene Personally I'd be happy with a multisig escrow deal with them. But as far as I know they don't do that. (I haven't been the person liaising with them directly though.) Is there anyone more trusted than Bittrex? I vouch for Bittrex being the escrow agent. |
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synechist (OP)
Legendary
 Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
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October 30, 2014, 03:23:28 PM |
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We're pretty excited about this. When the Blocknet launches it will benefit both the participating coins and all of crypto.
HI I realize this has probably been asked a few times but how does it benefit the other coins? It benefits Blocknet-enabled coins directly. It benefits crypto in general by: - making it hard for scams to compete, since they won't be part of the Blocknet - providing an open framework for cryptocurrencies to deliver services - other coins coming onto the Blocknet |
Co-Founder, the Blocknet
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BitcoiNaked
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October 30, 2014, 03:28:39 PM |
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Good news: Bter has now disabled selling on the BLOCK:BTC pairing.
How is this good news? I want to be able to set a sell order if I want to. Trading can be done after the ITO is over, also if you want to sell you need to sell under the ITO which won't give you profit anyway |
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itod
Legendary
Offline
Activity: 1974
Merit: 1075
^ Will code for Bitcoins
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October 30, 2014, 03:33:43 PM |
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[snip]
Is there something wrong with the wallet? No? Then it's a non-issue. It doesn't matter whether it's a fork of another coin or not because it works and therefore meets the criteria of the ITO. Its only purpose is to allow holders of BLOCK to store their tokens while the technology is developed to exchange them for NHZ assets which is the ultimate intention of the tokens. It's not a non-issue because it shows lack of serious effort from development team, not to put single feature they are advertising in that wallet, rather they decided to release the simple clone. You have a responsibility to the community, that's what I was trying to explain. It's not the issue if you will walk away with 1M US$ of other people money and achieve nothing, problem is your failure will make every other attempt of funding the development this way much, much harder. You are not alone on this world, and your potential failure will have serious consequences. Show me on thing that was done about this project that required some effort, pretty graphics doesn't count. That's why the cloning wallet is an issue, even if it is working as it should. I get your perspective. On the other hand, I do not think we'd significantly lower the risk of failure by putting out a whitepaper. Why? Because describing how you'd do something isn't the same as actually doing it. Projects can fail for multiple reasons, including unexpected oversights in the whitepaper. In fact, it may turn out that whitepapers can lead to overconfidence in a technical proposal. So, to summarise, I don't think we'd lower the risk with a whitepaper. Better to do what we've done and go with a track record (the Xnode protocol). In any case, what's done is done. People seem to think the Blocknet is a great idea, and there's no changing the plan now. Glad you see that I don't want you guys to fail, on the contrary. Problem is I've seen ambitious projects this size, even much better planed, failed before. Take a look at the BitMessage for instance, serious funding and serious efforts wasted only to conclude it is not doable, as many people claimed after seeing their whitepaper. You are underestimating this community ability to judge a project for it's documentation, there are many people who could easily see if Blocknet will succeed or not if some documentation about it is released. Lack of any specification/whitepaper speaks volumes for itself. |
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WhiteNotWright
Full Member
Offline
Activity: 196
Merit: 100
Fibre Knight
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October 30, 2014, 03:36:22 PM |
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People had to dump their participant coins because they found themselves with a lot of coins not being able to buy shit from coingate.
Or they bought coins in order to get the 10% discount and then they had to sell them at lower prices. Just crap.
People need to think for themselves sometimes. It was clearly stated what percent was going for ITO, thus if you bought coins and did not get in line for the release and failed to secure coins, that is not the fault of the ITO. Also, if you then "dumped" for a loss, that is poor trading technique. I do see your point however, you make valid claims, but seriously don't blame others for your inability to process information. We are all getting a little annoyed with the constant complaining about what is not right and not hearing enough of what IS right with the project. Otherwise, why even bother being involved? |
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ndrog
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October 30, 2014, 03:44:14 PM |
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I posted this question a a few hours ago however never got an answer.
''Synechist I have a question regarding staking in block wallet:
In my wallet it says ''Not staking because you don't have mature coins''. It's been less than hour I transferred my coins over, how many confirmations is needed for a coin to mature? Thanks''
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sugarboy321
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October 30, 2014, 03:46:25 PM |
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Virus guard went off in Blocknets wallet. This wallet is by Dan correct?
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merk475
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October 30, 2014, 03:50:31 PM |
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I posted this questions a a few hours ago however never got an answer.
''Synechist I have a question regarding staking in block wallet:
In my wallet it says ''Not staking because you don't have mature coins''. It's been less than hour I transferred my coins over, how many confirmations is needed for a coin to mature? Thanks''
Just give it some time. I think it was about 6 hours before I received my first staking. I think normally its between 4-8 hours. |
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ObscureBean
Legendary
Offline
Activity: 1148
Merit: 1000
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October 30, 2014, 03:57:55 PM |
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I'm confused  I bought some BLOCK from the ICO on Bittrex yesterday and I was under the impression that there are still days to go before trading is live. Yet I just found out that the coin is being traded on Allcoin ?? It's even below ICO price atm How is that even possible? https://www.allcoin.com/trade/BLOCK_BTC Is this the same coin? If so can someone explain what's going on? Thanks. |
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ndrog
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October 30, 2014, 04:02:12 PM |
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I posted this questions a a few hours ago however never got an answer.
''Synechist I have a question regarding staking in block wallet:
In my wallet it says ''Not staking because you don't have mature coins''. It's been less than hour I transferred my coins over, how many confirmations is needed for a coin to mature? Thanks''
Just give it some time. I think it was about 6 hours before I received my first staking. I think normally its between 4-8 hours. Thank you, will be checking again in a few hours again. |
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strunzdumm
Newbie
Offline
Activity: 28
Merit: 0
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October 30, 2014, 04:05:37 PM |
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So you said at the beginning you have a part of the xbridge as code... How about publishing that on github?
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Specialkey
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October 30, 2014, 04:08:00 PM |
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I'm confused I bought some BLOCK from the ICO on Bittrex yesterday and I was under the impression that there are still days to go before trading is live. Yet I just found out that the coin is being traded on Allcoin ?? It's even below ICO price atm How is that even possible? https://www.allcoin.com/trade/BLOCK_BTC Is this the same coin? If so can someone explain what's going on? Thanks. I had contact with Bittrex and it seems that the dev has failed in making the same roules on all exchanges. And Bittrex will keep the advertised roules. |
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MEED
Member
Offline
Activity: 68
Merit: 10
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October 30, 2014, 04:08:38 PM |
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I'm confused I bought some BLOCK from the ICO on Bittrex yesterday and I was under the impression that there are still days to go before trading is live. Yet I just found out that the coin is being traded on Allcoin ?? It's even below ICO price atm How is that even possible? https://www.allcoin.com/trade/BLOCK_BTC Is this the same coin? If so can someone explain what's going on? Thanks. dev forgot to tell bter to disable BLOCK withdraw but the price is pretty high. Open market seems to be unable to support this kinda price. Get prepared to see your investments drop in value when trading is open. Dev promices blocknet features to go live in 1-2 months and this is when you might get a profitable sell As for me I'm going to pick up coins at 15k sats when ICO is over |
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synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
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October 30, 2014, 04:09:30 PM |
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I'm confused I bought some BLOCK from the ICO on Bittrex yesterday and I was under the impression that there are still days to go before trading is live. Yet I just found out that the coin is being traded on Allcoin ?? It's even below ICO price atm How is that even possible? https://www.allcoin.com/trade/BLOCK_BTC Is this the same coin? If so can someone explain what's going on? Thanks. We've been in contact with them and as far as I know they've now disabled trading until the end of the ITO. |
Co-Founder, the Blocknet
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ObscureBean
Legendary
Offline
Activity: 1148
Merit: 1000
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October 30, 2014, 04:21:25 PM |
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I'm confused I bought some BLOCK from the ICO on Bittrex yesterday and I was under the impression that there are still days to go before trading is live. Yet I just found out that the coin is being traded on Allcoin ?? It's even below ICO price atm How is that even possible? https://www.allcoin.com/trade/BLOCK_BTC Is this the same coin? If so can someone explain what's going on? Thanks. We've been in contact with them and as far as I know they've now disabled trading until the end of the ITO. Thanks for the reply. I hope they've disabled trading otherwise this could mess up the ICO. It's really mind boggling that people on there have already traded at least a couple of BTC's worth at below ICO price. I mean seriously?? I'm gonna have to keep an eye on Allcoin, if they're still trading, I'll transfer some BTC over there to get cheap coins before official trading begins  |
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strunzdumm
Newbie
Offline
Activity: 28
Merit: 0
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October 30, 2014, 04:21:36 PM |
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So you said at the beginning you have a part of the xbridge as code... How about publishing that on github?
Why no answer? |
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Specialkey
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October 30, 2014, 04:22:08 PM |
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I'm confused I bought some BLOCK from the ICO on Bittrex yesterday and I was under the impression that there are still days to go before trading is live. Yet I just found out that the coin is being traded on Allcoin ?? It's even below ICO price atm How is that even possible? https://www.allcoin.com/trade/BLOCK_BTC Is this the same coin? If so can someone explain what's going on? Thanks. We've been in contact with them and as far as I know they've now disabled trading until the end of the ITO. Is Bter the only exchange where Block is tradeable? |
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BTCMILLIONAIRE
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October 30, 2014, 04:23:58 PM |
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so once I get blocks from bittrex do i keep them in wallet to earn money or how do i earn money or I HAVE TO get assets from NHZ Im confused any answers please thanks  |
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synechist (OP)
Legendary
Offline
Activity: 1190
Merit: 1000
To commodify ethicality is to ethicise the market
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October 30, 2014, 04:24:18 PM |
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I'm confused I bought some BLOCK from the ICO on Bittrex yesterday and I was under the impression that there are still days to go before trading is live. Yet I just found out that the coin is being traded on Allcoin ?? It's even below ICO price atm How is that even possible? https://www.allcoin.com/trade/BLOCK_BTC Is this the same coin? If so can someone explain what's going on? Thanks. We've been in contact with them and as far as I know they've now disabled trading until the end of the ITO. Is Bter the only exchange where Block is tradeable? It's not tradable on Bter. They've also disabled selling until the end of the ITO. |
Co-Founder, the Blocknet
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myxamop
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October 30, 2014, 04:24:32 PM |
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I'm confused I bought some BLOCK from the ICO on Bittrex yesterday and I was under the impression that there are still days to go before trading is live. Yet I just found out that the coin is being traded on Allcoin ?? It's even below ICO price atm How is that even possible? https://www.allcoin.com/trade/BLOCK_BTC Is this the same coin? If so can someone explain what's going on? Thanks. We've been in contact with them and as far as I know they've now disabled trading until the end of the ITO. Is Bter the only exchange where Block is tradeable? poloniex also |
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