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

[onealfa]

Ask yourself what will happen to the BLOCK price when that refund buy wall on Bittrex, which supports the price, is removed? You only get to guess once...

Man, your question is pointless.
Guess?  in what time frame?  First  minute? First 5 min? 1h? 1 day? 1 week? 1 Month? Longer?

What i know is - I do NOT CARE.
I will not part even with 1 single block, even if it goes down to 100 or 10 satoshi ( which i know will not)

The short time price does not matter.( and by short time i call up to 1 year)
 What i know is - i keep these tokens for 2-3 year at least.
And I dont have even smallest doubt - i gain some profits.
If fact - a HUGE profits, in medium to long run.
I said  now all.

[synechist]

To address some of the valid questions LeeWilson asked (yes it's not all trolling):

- The only exchange that we were able to hand coins over to was Bittrex. The other exchanges required that we put up a sell wall ourselves.

- Correspondingly, on Bittrex, we have no access to funds unless they determine that the ITO is a success, in which case they'll send them to our escrow address.

- On the other exchanges, funds were required to be in our control all the time, and some were withdrawn to improve their security.

- At the start of the ITO our escrow service was not in place (as announced). As such we were not in a position to keep coins in it.


Anyone who becomes worried at who's in control of the funds has no more reason to be concerned than at any point in the Blocknet's ITO, since nothing's changed.

If you recall correctly, we stated that we may move coins around and vary the quantities allocated to different pairings and different exchanges. This is what we have done with the Poloniex sell wall and the extra coins sold on CoinGateway.

Thus we have not changed our rules.

Lastly, I disagree with the opinion that changing rules is necessarily a bad idea. After all, unforeseen circumstances may necessitate a rule change, and not changing a rule could be very wrong.

[MKAxe11]

so, do we know roughly where we are with regads to the amount of BTC raised so far?

We were at about 1100 btc before the buy wall appeard, now with 90 btc sold we are at about 1010 btc

exciting stuff! We need a countdown timer!

http://www.webcountdown.net/?a=zqXsrez

[cryptico]

I see plenty of Bittrex investors buying on Poloniex at sub-ITO price, then selling an equivalent amount of their captive BLOCK into the Bittrex buywall. Cross-exchange arbitrage.

I believe deposits and withdrawals are closed during this 48 hour so you can't arbitrage.

what he means is, they buy the same amount of btc on polo as they did on trex and then get rid of their trex stach and keep the polo stach

If they can withdraw bitcoins after selling blocks this is compleatly feasable and disgusting.

as we can see they are more interested in buying and selling at once as you noticed earlier

the question is when they run out of tokens

Well now that we can see it please DO SOMETHING. You and Synechist reach out to Bittrex and ask to stop the trading Now!.

This is completly against ITO rules and trading should not be allowed during the refund period. we cannot even check for real how many bitcoins have been sold as they are adding buys at 0.00025.

Please reach out to them and let them address this issue.

Hi,

There is no issue with the above.  We have internal accounting, coins that are purchased above ICO go to those peoples accounts, whereas coins that are sold into the buy wall we placed the coins are removed from circulation, thus allowing us to calculate the total BTC earned for the ICO.

Thanks,

Ryan @ Bittrex

Do you mean that people buying at higher prices cannot sell back into the wall? how does it work? Once you buy at higher prices Blocks are locked?

What about the Bitcoins made due to people selling and getting the refunds? Those are still able to withdraw and then arbitrage buying block back at poloniex. Will you halt Bitcoin withdrawal till the end of the Refund period? This is a big incentive for people to sell into the buy wall and arbitrage at polo.

BUMP

[chiznitz]

I see plenty of Bittrex investors buying on Poloniex at sub-ITO price, then selling an equivalent amount of their captive BLOCK into the Bittrex buywall. Cross-exchange arbitrage.

I believe deposits and withdrawals are closed during this 48 hour so you can't arbitrage.

what he means is, they buy the same amount of btc on polo as they did on trex and then get rid of their trex stach and keep the polo stach

If they can withdraw bitcoins after selling blocks this is compleatly feasable and disgusting.

as we can see they are more interested in buying and selling at once as you noticed earlier

the question is when they run out of tokens

Well now that we can see it please DO SOMETHING. You and Synechist reach out to Bittrex and ask to stop the trading Now!.

This is completly against ITO rules and trading should not be allowed during the refund period. we cannot even check for real how many bitcoins have been sold as they are adding buys at 0.00025.

Please reach out to them and let them address this issue.

Hi,

There is no issue with the above.  We have internal accounting, coins that are purchased above ICO go to those peoples accounts, whereas coins that are sold into the buy wall we placed the coins are removed from circulation, thus allowing us to calculate the total BTC earned for the ICO.

Thanks,

Ryan @ Bittrex

Do you mean that people buying at higher prices cannot sell back into the wall? how does it work? Once you buy at higher prices Blocks are locked?

What about the Bitcoins made due to people selling and getting the refunds? Those are still able to withdraw and then arbitrage buying block back at poloniex. Will you halt Bitcoin withdrawal till the end of the Refund period? This is a big incentive for people to sell into the buy wall and arbitrage at polo.

If they sell their BLOCK they purchased at Bittrex back into the wall at Bittrex they are perfectly welcome to take their BTC and go buy block somewhere else if thats what they choose to do.  It is their BTC they can invest how they wish.  There are no arbitrage opportunities as BLOCK cannot be withdrawn or deposited from Bittrex.

We maintain an account for the ICO that has the coins that were being sold and the BTC from those sales for our BUY/SELL walls only.  It is all tracked through there, volume created by people buying above ICO price does not count towards the ICOs total sales.

The statements above only stand for the 48 hour buy back period.

Thank you,

Ryan @ Bittrex

[Specialkey]

Thanks for information

[itod]

Ask yourself what will happen to the BLOCK price when that refund buy wall on Bittrex, which supports the price, is removed? You only get to guess once...

Man, your question is pointless.
Guess?  in what time frame?  First  minute? First 5 min? 1h? 1 day? 1 week? 1 Month? Longer?

What i know is - I do NOT CARE.
I will not part even with 1 single block, even if it goes down to 100 or 10 satoshi ( which i know will not)

The short time price does not matter.( and by short time i call up to 1 year)
 What i know is - i keep these tokens for 2-3 year at least.
And I dont have even smallest doubt - i gain some profits.
If fact - a HUGE profits, in medium to long run.
I said  now all.

You are a true supporter. I respect that. For those who are not willing to wait 2-3 years, or some other point in time when eventual and not even yet started development is finished, the next day is your last chance to see your BTC back at price even close to what you've payed for BLOCK. Trading is now enabled, and even with desperate giant supporting buy wall the price is nailed to the lowest possible. The minute the supporting wall is removed the price will inevitable collapse, even if the ITO reaches 850 BTC. I don't want to think about the mess which will happen if the 850 BTC figure is not reached. Take all this in consideration when you think what will you do until the end of the "refund" process, after that it may be too late.

[Crypto_Enthusiast]

Why is BTER trading still disabled?

[WhiteNotWright]

Ask yourself what will happen to the BLOCK price when that refund buy wall on Bittrex, which supports the price, is removed? You only get to guess once...

Man, your question is pointless.
Guess?  in what time frame?  First  minute? First 5 min? 1h? 1 day? 1 week? 1 Month? Longer?

What i know is - I do NOT CARE.
I will not part even with 1 single block, even if it goes down to 100 or 10 satoshi ( which i know will not)

The short time price does not matter.( and by short time i call up to 1 year)
 What i know is - i keep these tokens for 2-3 year at least.
And I dont have even smallest doubt - i gain some profits.
If fact - a HUGE profits, in medium to long run.
I said  now all.

Agree completely. Risks is about managing expectations.

[synechist]

Ask yourself what will happen to the BLOCK price when that refund buy wall on Bittrex, which supports the price, is removed? You only get to guess once...

Man, your question is pointless.
Guess?  in what time frame?  First  minute? First 5 min? 1h? 1 day? 1 week? 1 Month? Longer?

What i know is - I do NOT CARE.
I will not part even with 1 single block, even if it goes down to 100 or 10 satoshi ( which i know will not)

The short time price does not matter.( and by short time i call up to 1 year)
 What i know is - i keep these tokens for 2-3 year at least.
And I dont have even smallest doubt - i gain some profits.
If fact - a HUGE profits, in medium to long run.
I said  now all.

You are a true supporter. I respect that. For those who are not willing to wait 2-3 years, or some other point in time when eventual and not even yet started development is finished, the next day is your last chance to see your BTC back at price even close to what you've payed for BLOCK. Trading is now enabled, and even with desperate giant supporting buy wall the price is nailed to the lowest possible. The minute the supporting wall is removed the price will inevitable collapse, even if the ITO reaches 850 BTC. I don't want to think about the mess which will happen if the 850 BTC figure is not reached. Take all this in consideration when you think what will you do until the end of the "refund" process, after that it may be too late.

Perhaps you missed my reply Itod.

Don't post this point again without responding to it.

When the buy wall runs out, there will be no more BLOCK left on Bittrex to sell. So there will be zero liquidity, therefore zero drop in price.

[cryptico]

Do you mean that people buying at higher prices cannot sell back into the wall? how does it work? Once you buy at higher prices Blocks are locked?

What about the Bitcoins made due to people selling and getting the refunds? Those are still able to withdraw and then arbitrage buying block back at poloniex. Will you halt Bitcoin withdrawal till the end of the Refund period? This is a big incentive for people to sell into the buy wall and arbitrage at polo.

If they sell their BLOCK they purchased at Bittrex back into the wall at Bittrex they are perfectly welcome to take their BTC and go buy block somewhere else if thats what they choose to do.  It is their BTC they can invest how they wish.  There are no arbitrage opportunities as BLOCK cannot be withdrawn or deposited from Bittrex.

We maintain an account for the ICO that has the coins that were being sold and the BTC from those sales for our BUY/SELL walls only.  It is all tracked through there, volume created by people buying above ICO price does not count towards the ICOs total sales.

The statements above only stand for the 48 hour buy back period.

Thank you,

Ryan @ Bittrex

Thank you for your answers Ryan I disagree with your first point but I understand your position.

Since now we have a block explorer can we have the address where the unsold Blocks are kept till the end of the refund period?

with your second point I understand that the bought Blokcs at higher prices are not part of the ITO does this imply that if they sell back into the refund wall those will not be taken into consideration as "refunds"?

Thank you.

[mxxxxxx]

If they sell their BLOCK they purchased at Bittrex back into the wall at Bittrex they are perfectly welcome to take their BTC and go buy block somewhere else if thats what they choose to do.  It is their BTC they can invest how they wish.  There are no arbitrage opportunities as BLOCK cannot be withdrawn or deposited from Bittrex.

We maintain an account for the ICO that has the coins that were being sold and the BTC from those sales for our BUY/SELL walls only.  It is all tracked through there, volume created by people buying above ICO price does not count towards the ICOs total sales.

The statements above only stand for the 48 hour buy back period.

Thank you,

Ryan @ Bittrex

Thank You Ryan

[itod]

Ask yourself what will happen to the BLOCK price when that refund buy wall on Bittrex, which supports the price, is removed? You only get to guess once...

Man, your question is pointless.
Guess?  in what time frame?  First  minute? First 5 min? 1h? 1 day? 1 week? 1 Month? Longer?

What i know is - I do NOT CARE.
I will not part even with 1 single block, even if it goes down to 100 or 10 satoshi ( which i know will not)

The short time price does not matter.( and by short time i call up to 1 year)
 What i know is - i keep these tokens for 2-3 year at least.
And I dont have even smallest doubt - i gain some profits.
If fact - a HUGE profits, in medium to long run.
I said  now all.

You are a true supporter. I respect that. For those who are not willing to wait 2-3 years, or some other point in time when eventual and not even yet started development is finished, the next day is your last chance to see your BTC back at price even close to what you've payed for BLOCK. Trading is now enabled, and even with desperate giant supporting buy wall the price is nailed to the lowest possible. The minute the supporting wall is removed the price will inevitable collapse, even if the ITO reaches 850 BTC. I don't want to think about the mess which will happen if the 850 BTC figure is not reached. Take all this in consideration when you think what will you do until the end of the "refund" process, after that it may be too late.

Perhaps you missed my reply Itod.

Don't post this point again without responding to it.

When the buy wall runs out, there will be no more BLOCK left on Bittrex to sell. So there will be zero liquidity, therefore zero drop in price.

I haven't missed your post, but not responding because it's obvious that even you are not believing in what you are writing, so what's the point in responding? How come there will be zero liquidity when Bittrex depositing/withdrawing will be enabled? And all this in the positive outcome for you that 850 BTC limit is reached, people will rush their BLOCK to sell them on the most liquid BLOCK market of all - Bittrex. Why would I respond to your claim of zero liquidity when you yourself know for a fact it's false? Only chance for zero liquidity is if ITO fails to reach 850 BTC, and then all the hell breaks loose.

[4theLOVEofCrypto]

In case anyone missed it.  And since XC/BlockNet wants to take the higher ground against these trolls (which at times I don't agree with, like now), I thought this comment was interesting in another thread:

ShadowDarknet ?

Just kidding.

As far as the document goes.

If you notice it was Dan Metcalf that leaked the Drk-sdc proposed merger talks when he leaked his conversations about the XC-sdc proposed merger.

No one is blackmailing anybody. Shadow pulled out of blocknet because of the facts that have been presented. Shadow chose not to be part of an alleged scam.

Smurf is along the same gutter level as the trolls for SDC.

[00Smurf]

In case anyone missed it.  And since XC/BlockNet wants to take the higher ground against these trolls (which at times I don't agree with, like now), I thought this comment was interesting in another thread:

ShadowDarknet ?

Just kidding.

As far as the document goes.

If you notice it was Dan Metcalf that leaked the Drk-sdc proposed merger talks when he leaked his conversations about the XC-sdc proposed merger.

No one is blackmailing anybody. Shadow pulled out of blocknet because of the facts that have been presented. Shadow chose not to be part of an alleged scam.

Smurf is along the same gutter level as the trolls in SDC.

I said "alleged". Do you know what alleged means? There is a difference between alleged and not alleged just so you know.

[synechist]

If they sell their BLOCK they purchased at Bittrex back into the wall at Bittrex they are perfectly welcome to take their BTC and go buy block somewhere else if thats what they choose to do.  It is their BTC they can invest how they wish.  There are no arbitrage opportunities as BLOCK cannot be withdrawn or deposited from Bittrex.

We maintain an account for the ICO that has the coins that were being sold and the BTC from those sales for our BUY/SELL walls only.  It is all tracked through there, volume created by people buying above ICO price does not count towards the ICOs total sales.

The statements above only stand for the 48 hour buy back period.

Thank you,

Ryan @ Bittrex

Thank you Ryan for the explanation.

However I think that the concern people have here is that anyone who wants to cripple the ITO can deposit as much BTC as (s)he likes, put up slightly higher bids to attract buyers, and then sell into the buy wall at a slight loss.

The cost of this would be minimal.

If you're aware of the smear campaign we've endured, you'll have little doubt about the presence of people who would very happily pay a low price to make the ITO fail.

This, in my opinion, presents a sure-fire way for opponents of the Blocknet to create conditions that do not reflect true interest in the project.

As such, I think that the buy wall does not address the unfair conditions due to open trading being enabled on Poloniex. Instead it creates a severely unfair condition for every single supporter of the Blocknet.

I request that you end the Buyback period early.

Sincerely

Arlyn

[synechist]

Ask yourself what will happen to the BLOCK price when that refund buy wall on Bittrex, which supports the price, is removed? You only get to guess once...

Man, your question is pointless.
Guess?  in what time frame?  First  minute? First 5 min? 1h? 1 day? 1 week? 1 Month? Longer?

What i know is - I do NOT CARE.
I will not part even with 1 single block, even if it goes down to 100 or 10 satoshi ( which i know will not)

The short time price does not matter.( and by short time i call up to 1 year)
 What i know is - i keep these tokens for 2-3 year at least.
And I dont have even smallest doubt - i gain some profits.
If fact - a HUGE profits, in medium to long run.
I said  now all.

You are a true supporter. I respect that. For those who are not willing to wait 2-3 years, or some other point in time when eventual and not even yet started development is finished, the next day is your last chance to see your BTC back at price even close to what you've payed for BLOCK. Trading is now enabled, and even with desperate giant supporting buy wall the price is nailed to the lowest possible. The minute the supporting wall is removed the price will inevitable collapse, even if the ITO reaches 850 BTC. I don't want to think about the mess which will happen if the 850 BTC figure is not reached. Take all this in consideration when you think what will you do until the end of the "refund" process, after that it may be too late.

Perhaps you missed my reply Itod.

Don't post this point again without responding to it.

When the buy wall runs out, there will be no more BLOCK left on Bittrex to sell. So there will be zero liquidity, therefore zero drop in price.

I haven't missed your post, but not responding because it's obvious that even you are not believing in what you are writing, so what's the point in responding? How come there will be zero liquidity when Bittrex depositing/withdrawing will be enabled? And all this in the positive outcome for you that 850 BTC limit is reached, people will rush their BLOCK to sell them on the most liquid BLOCK market of all - Bittrex. Why would I respond to your claim of zero liquidity when you yourself know for a fact it's false? Only chance for zero liquidity is if ITO fails to reach 850 BTC, and then all the hell breaks loose.

You can't deposit or withdraw BLOCK from Bittrex.

Read the rules.

[Poly#Crypto]

If they sell their BLOCK they purchased at Bittrex back into the wall at Bittrex they are perfectly welcome to take their BTC and go buy block somewhere else if thats what they choose to do.  It is their BTC they can invest how they wish.  There are no arbitrage opportunities as BLOCK cannot be withdrawn or deposited from Bittrex.

We maintain an account for the ICO that has the coins that were being sold and the BTC from those sales for our BUY/SELL walls only.  It is all tracked through there, volume created by people buying above ICO price does not count towards the ICOs total sales.

The statements above only stand for the 48 hour buy back period.

Thank you,

Ryan @ Bittrex

Thanks for the explanation

[racer2012]

Ask yourself what will happen to the BLOCK price when that refund buy wall on Bittrex, which supports the price, is removed? You only get to guess once...

Man, your question is pointless.
Guess?  in what time frame?  First  minute? First 5 min? 1h? 1 day? 1 week? 1 Month? Longer?

What i know is - I do NOT CARE.
I will not part even with 1 single block, even if it goes down to 100 or 10 satoshi ( which i know will not)

The short time price does not matter.( and by short time i call up to 1 year)
 What i know is - i keep these tokens for 2-3 year at least.
And I dont have even smallest doubt - i gain some profits.
If fact - a HUGE profits, in medium to long run.
I said  now all.

What do you expect the value of blocknet will be in 1 yr time? ?

[4theLOVEofCrypto]

In case anyone missed it.  And since XC/BlockNet wants to take the higher ground against these trolls (which at times I don't agree with, like now), I thought this comment was interesting in another thread:

ShadowDarknet ?

Just kidding.

As far as the document goes.

If you notice it was Dan Metcalf that leaked the Drk-sdc proposed merger talks when he leaked his conversations about the XC-sdc proposed merger.

No one is blackmailing anybody. Shadow pulled out of blocknet because of the facts that have been presented. Shadow chose not to be part of an alleged scam.

Smurf is along the same gutter level as the trolls in SDC.

I said "alleged". Do you know what alleged means? There is a difference between alleged and not alleged just so you know.

I personally liked your "twit" remark that you edited out.  And yes I know the difference, but thanks for checking in.