I wish the volume was high enough for kraken to do margin on ICN that would seriously make me retire...
No stress, everyone who holds more than 10,000 ICO will be able to retire in 2018...
That would be nice.
For ICNX is it going to be tradable like any other token? Therefore will be pumping and dumping or do you litterally buy it and see profit coming back? I cant get a clear understanding of this.
ICNX doesn't have dividends, it simply tracks the value of the basket of cryptocurrencies it is backed by.
If you deposit capital into index fund on Iconomi platform, then new ICNX tokens are created and you can withdraw them.
If you deposit ICNX tokens to the index fund on platform, then the ICNX tokens are destroyed and you can withdraw capital.
This means the supply of ICNX (an ERC20 token on ethereum) will grow/shrink as people deposit/withdraw capital from index array.
thank you for this awesome explanation. Can I buy them with Bitcoin easily enough? It is very exciting indeed
Have they updated on the launch date as yet?You could either deposit BTC into index fund to create new ICNX, or you could trade BTC for ICNX that are already freely circulating.
Arbitragers will be trading ICNX and its' underlying assets to keep the price of an ICNX token near equilibrium with the value of the underlying assets.
