[ANN] ICONOMI - Fund Management Platform - page 1169.

ICONOMI

full member

Activity: 210

Merit: 100

Quote from: BitBanksy on August 23, 2016, 10:13:47 AM

One last question before ICO:

Where are you guys based? Under which jurisdiction and are you already registered as a LTD, Gmbh or what ever does apply under your current jurisdiction?

Where in EU the bank account will be based and under which name does it operate?

We are all based in Ljubljana, Slovenia. Except for some advisors and key holders. You can see most of out team on this pic: https://www.instagram.com/p/BJdG3cCgtix/

Company is registered in Czech Republic and that's where we also received money remittance licence from CNB (Czech National Bank).

All is operated under the company name Cashila OOD s.r.o. - the operator of ICONOMI. Bank account we have in 2 different banks in Slovakia - owned by the company with remittance licence.

abugseuf

full member

Activity: 238

Merit: 100

Quote from: Free_Crypto on August 22, 2016, 06:45:03 PM

this is will be big project trolls are here from page 2 and the same was with lisk waves and all good icos )

yes i am also hopeful that this will be a big and a successive project, hope it will not the scam just like the other projects,

BitBanksy

sr. member

Activity: 350

Merit: 250

One last fundamental question before ICO:

Where are you guys based? Under which jurisdiction and are you already registered as a LTD, Gmbh or what ever does apply under your current jurisdiction?

Where in EU the bank account will be based and under which name does it operate?

Mrboot

legendary

Activity: 1204

Merit: 1000

Its hard to get the fundamentals of this token atm,

Cause we dont see any fee price and the aim is to raise approx 1,3 mil dollar.
And for that amount to have a ROI eventually it needs to raise 1,5 million (inc 15% for the foundation)

Thats a pretty big amount to earn in fee's cause that means a lot need to be invested on your platform.

roguetrader

newbie

Activity: 53

Merit: 0

Quote from: ICONOMI on August 23, 2016, 09:52:14 AM

Quote from: roguetrader on August 23, 2016, 09:48:51 AM

Quote from: ICONOMI on August 23, 2016, 09:44:41 AM

Quote from: roguetrader on August 23, 2016, 09:40:43 AM

Quote from: ICONOMI on August 23, 2016, 09:11:20 AM

Quote from: roguetrader on August 23, 2016, 08:48:31 AM

Quote from: ICONOMI on August 23, 2016, 08:37:30 AM

Quote from: roguetrader on August 23, 2016, 08:01:51 AM

Quote from: ICONOMI on August 23, 2016, 07:45:08 AM

Quote from: roguetrader on August 23, 2016, 07:17:00 AM

Quote from: ICONOMI on August 22, 2016, 11:46:14 AM

Quote from: BoldNinja on August 22, 2016, 11:13:39 AM

I have a question how will other cryptocurrencies be treated (Lisk and Ethereum for example) ? Automatically shifted to BTC or will they stay in LISK and ETH? I'm asking due to price volatility and if someone invests 1000 LISK how will that be handled at the end what if price is doubled or if it goes down as well as FIAT currencies?

Will everything be converted to BTC at the time of deposit?

We'll be accepting Bitcoin, Ethereum (ETH) and Lisk. All the funds will be kept the same way as we receive them.
At the end of ICO, that is on 29th September at 20.00 CET we'll calculate value of investments in EUR and you will then you will know fixed number of ICN tokens.

The same will apply to USD deposits.

Currencies that will be accepted via Shapeshift will be converted to BTC at the time of sending them and kept in BTC>

In this case the less volatile option to deposit is EUR, right ?

If you don't poses any crypto now then I would say yes.

And if you compare usd/eur then eur is the one that is not volatile. But USD can be compared to eur.

I think even if you have crypto, because you mention "At the end of ICO, that is on 29th September at 20.00 CET we'll calculate value of investments in EUR and you will then you will know fixed number of ICN tokens", because you are going to use EUR as your functional ICO currency, the only way to avoid value fluctuation (in your favor or against you) is to convert any other currency (crypto or fiat) in EUR and then deposit.
Don't you agree ?

Yes, you're right. However, if you deposit EUR and BTC appreciated a lot. Then relatively you get less for each EUR. And vice versa.

Just a curiosity, why not instead of using EUR you don't use BTC or ETH as the functional ICO currency ?

At the end of the day it won't make a difference to whichever currency is pegged.

Mathematically speaking ratio will be calculated among each and this one stays from whichever currency you use as base.

Yeah i agree that in math it won't make a difference.
The only way to avoid the volatility would be to you convert right away all the non-EUR deposits to EUR, and not waiting 1 month to do this, is this viable operationally ?
The way i see it i am very comfortable on taking the platform risk, but i would be very pis... to invest 5BTC @ 515 EURBTC quote and get it converted 1 month later lets say @ 412 EURBTC (-10%), i understand that it also can go up and it get converted better, but the optionality here is still negative in terms of risk.

In that case it is best to participate strictly in EUR or USD. Whichever is closer to your national currency in which you make money or keep your savings.

We can not convert straight to EUR right away, because in case we'd need to refund people they need to receive back exactly what they put in. The only exception (but here currencies do not swing up and down that much) is if you send fiat that is not EUR or USD. In case that you for example send TRY, those TRY will be converted to EUR and if we'd need to refund we would convert it back to TRY on the day of refunding and send it back - without any extra costs for you.

I see your point, i have the 5 BTC ready, will try to decide if i am converting it to EUR and deposit or deposit the 5 BTC and take the risk ... also i could hedge going short 5 BTC/EUR or BTCUSD in a exchange.

Plenty of options here yup.

In case you decide to go in converting 5 BTC into EUR you can create an account on Cashila - service we run. And let me know your email and I'll give you zero fee there for that transaction.

Nice thanks

disconnectme

hero member

Activity: 1876

Merit: 512