You answered all the questions, but dodged MoveCrypto's twice. I have a felling you dont quite understand your own plan. You even admit that in the part about transparency of trades made in the fund. But hey, if people want to invest their money in things they dont understand just because they have a good feeling, who am i to judge. Spend them dollars kids! This is the new decentralized economy, where we all put all our money in the hands of ONE 'Investment Lead' in the team for whom we have no evidence of his past trading performance in crypto. Thats Iconomi in a nutshell.
Just finished reading whitepaper.
OFM is a simple management tool where traders with knowledge and experience create their own investment funds. Investors, on the other hand, are able to invest even the smallest amounts, getting a clear overview of available investment fund managers and their current & past performance
How can we get a clear overview of fund managers if they are doing their trading on non-transparent exchanges like Poloniex? What stops me from posing as a fund manager on this platform, and running a pyramid scheme?
stripped of the risks associated with acquiring and storing the assets yourself
- Who is controlling the private keys of the coins, or the exchange accounts which hold the coins in the Coin Traded Fund (CTF) and Coin Managed Fund (CMF)?
ICN tokens represent ownership of the ICONOMI platform, allowing their holders to receive dividends and vote on ICONOMI related issues.
Ethereum smart contracts enable a very transparent and secure way of profitsharing among the token holders
- How do we know the prices the funds bought and sold at, if they are buying/selling on a non-transparent market like poloniex, for example? Have you thought about doing the trades on the blockchain with escrow, so everyone can see?
For example, if ICN wants to invest in STEEM, then they trade BTC for STEEM with a big holder, with escrow, on the blockchain, so everyone can see what the price paid and time of the trade was.
This project reminds me of supernet, which is sort of a crypto-investment fund with a non-inflating supply of tokens traded on the nxt asset exchange:
http://www.supernet.org/nav.phpJust finished reading whitepaper.
- How can we get a clear overview of fund managers if they are doing their trading on non-transparent exchanges like Poloniex? What stops me from posing as a fund manager on this platform, and running a pyramid scheme?
- Who is controlling the private keys of the coins, or the exchange accounts which hold the coins in the Coin Traded Fund (CTF) and Coin Managed Fund (CMF)?
- How do we know the prices the funds bought and sold at, if they are buying/selling on a non-transparent market like poloniex, for example? Have you thought about doing the trades on the blockchain with escrow, so everyone can see?
This project reminds me of supernet, which is sort of a crypto-investment fund with a non-inflating supply of tokens traded on the nxt asset exchange:
http://www.supernet.org/nav.php