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

[crackfoo]

Hi all

An announcement from Bittrex regarding the ITO:

BlockNet ITO - What happened and next steps.

First off, let me thank all our users for their patience on the matter.  We are actively working with everyone to ensure the best outcome for all parties. Before we get started, I want to provide a little background.  BlockNet was the first ICO we agreed to do where we didn't have complete control of the coin supply. We've learned our lesson, we will not be participating in any offering where we are not in a position to enforce agreed upon terms.

Somewhere along the way, there was a miscommunication and BLOCK coins were released for both trading and staking.  By enforcing the escrow terms, we put Bittrex users at a disadvantage.  To remedy this, we will put up a buy wall at the ITO price for 48 hours after the ITO ends on November 5th.  We will not allow deposits or withdrawals during this 48 hour window.  This will allow any users wanting a refund to receive one.  Once this window closes, we will pull the buy wall and evaluate the escrow terms.  If everything checks out, we will release the funds to the developer and open the wallet and market for trading.
 

This will rectify the unfair conditions imposed upon Bittrex traders due to trading being enabled at Poloniex.

I would like to clarify that this is unrelated to the recent FUD, but is purely due to the different rules on Poloniex and Bittrex.


Finally, this entails that you are all free to buy BLOCK on Bittrex without risk of loss, as you'll have a chance to sell it again if market sentiment is not positive when the ITO ends.


Expect tech and escrow-related news from us soon.

Should it not be released to escrow?

[1715671675]

1715671675

[1715671675]

1715671675

[UnicornFarts]

Expect tech and escrow-related news from us soon.

So at the moment there is no escrow / independant progress review / auditor set up.

Will these be setup before the end of the ICO?

[synechist]

This also does not explain why the charts yesterday on bter showed a dump of 8000 coins, but the market history did not reflect the sale.
Which leads to my question I have been asking for hours now that has yet to be answered:

Where has the ITO gone on bter??
The coin is not present in their api either.

We are currently unaware of why the BLOCK:BTC pairing at Bter is unavailable.

We're investigating it and will report back as soon as we hear from them.

[synechist]

Expect tech and escrow-related news from us soon.

So at the moment there is no escrow / independant progress review / auditor set up.

Will these be setup before the end of the ICO?

Yes that is the intention.

[leewilson]

This also does not explain why the charts yesterday on bter showed a dump of 8000 coins, but the market history did not reflect the sale.
Which leads to my question I have been asking for hours now that has yet to be answered:

Where has the ITO gone on bter??
The coin is not present in their api either.

We are currently unaware of why the BLOCK:BTC pairing at Bter is unavailable.

We're investigating it and will report back as soon as we hear from them.

No reason to edit my post out of your quote regarding management being ultimately responsible for the exchange fiasco.

The specific bter disappearance issue falls under management as well.
I noticed it over 6 hours ago and at that time it had been 24hrs since I checked it.

It would seem management/pr would have been all over this and letting everyone know not to be alarmed and that it was under control.

So when did it get delisted from bter? I am sure it didn't happen right before I checked it.
And when did you reach out to them regarding the issue?

[synechist]

I would also like to clarify that Poloniex enabled trading in accordance with their agreement with us and has not acted unethically.

Furthermore they are legally obligated to keep trading open during the ITO: to fail to do so would put their customers who have open positions at a disadvantage.

Given that Poloniex were in fact clear to the people who set up the pairing that trading would be enabled, we take responsibility for this and offer our apologies.

We are thankful that Bittrex's 48 hour buy wall following the ITO will restore fairness across exchanges.

[synechist]

This also does not explain why the charts yesterday on bter showed a dump of 8000 coins, but the market history did not reflect the sale.
Which leads to my question I have been asking for hours now that has yet to be answered:

Where has the ITO gone on bter??
The coin is not present in their api either.

We are currently unaware of why the BLOCK:BTC pairing at Bter is unavailable.

We're investigating it and will report back as soon as we hear from them.

No reason to edit my post out of your quote regarding management being ultimately responsible for the exchange fiasco.

The specific bter disappearance issue falls under management as well.
I noticed it over 6 hours ago and at that time it had been 24hrs since I checked it.

It would seem management/pr would have been all over this and letting everyone know not to be alarmed and that it was under control.

So when did it get delisted from bter? I am sure it didn't happen right before I checked it.
And when did you reach out to them regarding the issue?

Oh, so by "coin management" you were attributing blame to us?

Anyway, perhaps if I weren't sick with a cold/flu I would've been online today and on the ball.

Go on, give us hell. I'm past bothering to retort.

Good night everyone. It's 1:13am here and I need a weekend's rest.

[WhiteNotWright]

This also does not explain why the charts yesterday on bter showed a dump of 8000 coins, but the market history did not reflect the sale.
Which leads to my question I have been asking for hours now that has yet to be answered:

Where has the ITO gone on bter??
The coin is not present in their api either.

We are currently unaware of why the BLOCK:BTC pairing at Bter is unavailable.

We're investigating it and will report back as soon as we hear from them.

No reason to edit my post out of your quote regarding management being ultimately responsible for the exchange fiasco.

The specific bter disappearance issue falls under management as well.
I noticed it over 6 hours ago and at that time it had been 24hrs since I checked it.

It would seem management/pr would have been all over this and letting everyone know not to be alarmed and that it was under control.

So when did it get delisted from bter? I am sure it didn't happen right before I checked it.
And when did you reach out to them regarding the issue?

Seriously, let them get you the answers on BTER, they said they would and accepted responsibility and provided a solution.
~ Take a chill pill and sell off your block when the time comes if you don't feel comfortable with taking risks.

[Longenecker]

I would also like to clarify that Poloniex enabled trading in accordance with their agreement with us and has not acted unethically.

Furthermore they are legally obligated to keep trading open during the ITO: to fail to do so would put their customers who have open positions at a disadvantage.

Given that Poloniex were in fact clear to the people who set up the pairing that trading would be enabled, we take responsibility for this and offer our apologies.

We are thankful that Bittrex's 48 hour buy wall following the ITO will restore fairness across exchanges.

Just curious, which party originally pushed to have open trading during the ITO, BlockNET or Poloniex?  Thanks

[MobyDick_Poloniex]

I would also like to clarify that Poloniex enabled trading in accordance with their agreement with us and has not acted unethically.

Furthermore they are legally obligated to keep trading open during the ITO: to fail to do so would put their customers who have open positions at a disadvantage.

Given that Poloniex were in fact clear to the people who set up the pairing that trading would be enabled, we take responsibility for this and offer our apologies.

We are thankful that Bittrex's 48 hour buy wall following the ITO will restore fairness across exchanges.

Thank you synechist, for publicly acknowledging the terms, of open trade and an open wallet that Blocknet and Poloniex agreed to prior to launch.

[leewilson]

This also does not explain why the charts yesterday on bter showed a dump of 8000 coins, but the market history did not reflect the sale.
Which leads to my question I have been asking for hours now that has yet to be answered:

Where has the ITO gone on bter??
The coin is not present in their api either.

We are currently unaware of why the BLOCK:BTC pairing at Bter is unavailable.

We're investigating it and will report back as soon as we hear from them.

No reason to edit my post out of your quote regarding management being ultimately responsible for the exchange fiasco.

The specific bter disappearance issue falls under management as well.
I noticed it over 6 hours ago and at that time it had been 24hrs since I checked it.

It would seem management/pr would have been all over this and letting everyone know not to be alarmed and that it was under control.

So when did it get delisted from bter? I am sure it didn't happen right before I checked it.
And when did you reach out to them regarding the issue?

Oh, so by "coin management" you were attributing blame to us?

Anyway, perhaps if I weren't sick with a cold/flu I would've been online today and on the ball.

Go on, give us hell. I'm past bothering to retort.

Good night everyone. It's 1:13am here and I need a weekend's rest.

1. A huge yes. All the way around if you want to use the collective "us". If you want to separate out the individual that dropped the ball then it would be them.

2. I am sorry you have a case of the snivels. I do not know when the market was pulled, that is why I asked. And I did not know you were doing pr and the only one out of the whole blocknet team that looks to see what the ito is doing on the 3 markets left to purchase it from so don't take it out on me. Refer to 1.

3. This chart backs up the dump of around 8000 coins that I saw on the charts. Was bter allowing trades to occur since the release?
http://www.cryptocoincharts.info/pair/block/btc/bter

[threedream]

In poloniex.com someone below the IPO price to sell, why ? I feel was a hoax

[WhiteNotWright]

In poloniex.com someone below the IPO price to sell, why ? I feel was a hoax

They are trading the coin they picked up at 10% discount during the ITO.

[nigttran]

In poloniex.com someone below the IPO price to sell, why ? I feel was a hoax

Some buyer has buyed cheaper ICO price at coingateway.com. They buyed cheaper than 20-40%

[WhiteNotWright]

Quote from: synechist on Today at 00:39:09
Hi all

An announcement from Bittrex regarding the ITO:


Quote
BlockNet ITO - What happened and next steps.

First off, let me thank all our users for their patience on the matter.  We are actively working with everyone to ensure the best outcome for all parties. Before we get started, I want to provide a little background.  BlockNet was the first ICO we agreed to do where we didn't have complete control of the coin supply. We've learned our lesson, we will not be participating in any offering where we are not in a position to enforce agreed upon terms.

Somewhere along the way, there was a miscommunication and BLOCK coins were released for both trading and staking.  By enforcing the escrow terms, we put Bittrex users at a disadvantage.  To remedy this, we will put up a buy wall at the ITO price for 48 hours after the ITO ends on November 5th.  We will not allow deposits or withdrawals during this 48 hour window.  This will allow any users wanting a refund to receive one.  Once this window closes, we will pull the buy wall and evaluate the escrow terms.  If everything checks out, we will release the funds to the developer and open the wallet and market for trading.
 

This will rectify the unfair conditions imposed upon Bittrex traders due to trading being enabled at Poloniex.

I would like to clarify that this is unrelated to the recent FUD, but is purely due to the different rules on Poloniex and Bittrex.

[neo666]

people, couldn't we all just get along?
btw, can I ask, 3 days left till end of ito, how manny btc are collected till now?
cheers

[Specialkey]

people, couldn't we all just get along?
btw, can I ask, 3 days left till end of ito, how manny btc are collected till now?
cheers

It must be round around 900 BTC which shall be collected. Got the info yeasterday evening here on this thread.

[neo666]

aha, thanks!

[Revelation]

An announcement from Bittrex regarding the ITO:

BlockNet ITO - What happened and next steps.

First off, let me thank all our users for their patience on the matter.  We are actively working with everyone to ensure the best outcome for all parties. Before we get started, I want to provide a little background.  BlockNet was the first ICO we agreed to do where we didn't have complete control of the coin supply. We've learned our lesson, we will not be participating in any offering where we are not in a position to enforce agreed upon terms.

Somewhere along the way, there was a miscommunication and BLOCK coins were released for both trading and staking.  By enforcing the escrow terms, we put Bittrex users at a disadvantage.  To remedy this, we will put up a buy wall at the ITO price for 48 hours after the ITO ends on November 5th.  We will not allow deposits or withdrawals during this 48 hour window.  This will allow any users wanting a refund to receive one.  Once this window closes, we will pull the buy wall and evaluate the escrow terms.  If everything checks out, we will release the funds to the developer and open the wallet and market for trading.
 

Thank you Bittrex! This is really awesome.

[UnicornFarts]

I would also like to clarify that Poloniex enabled trading in accordance with their agreement with us and has not acted unethically.

Bittrex ITO rules

Bittrex will be hosting the Blocknet ITO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ITO; no other conditions are required.

* We will review the wallet before initially adding it.
* Bittrex will host 3,400,000.00 of 10,000,000 total coins at a price of 0.00025 the ITO will value 2500 BTC across all exchanges.
* The ITO will run for 7 days beginning October 29, 2014 at 5am PDT and ending on November 5th 23:59:59 PDT
* The ITO must raise 850 BTC total across all exchanges to be considered a success.
* If success conditions are NOT met, all BTC invested will be refunded through a buy wall.
* Once the ITO is over we will verify there is working wallet, blockchain, and block explorer.
* ITO payment will be in a lump sum to Blocknet within 7 days after the ITO ends.
* No trading of the coin will be allowed until the ITO ends and escrow is released.
* ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ITO, you are agreeing to the above terms.

It appears the no trading was a bitrex only rule