Topic: [ANN] LIFE - Lightweight Intermediaries For Exchange by PinkExc (Read 4295 times)

Just got the word from OP that LIFE token bounty are officially CLOSED

Hi kl_crypto. You may visit our website, www.pinkexc.com for our team profile. Yes the lady in red burqa is receipient of our donations. She received it on behalf Rumah Anak Yatim An Nur Maisarah (orphanage) . For your info, we will always try to help the needy regardless of race and religion.

Hi there!

1. Who are people behind the team? Where can we check your team profiles?
2. Could you explain your choice of corporate social responsibility? Is the lady in red burqa your team member or recipient of your donations?
https://ibb.co/nMH6Qm
3. Will you be open to donate to charities other than your religious belief e.g. Jews, Christians or atheists?

All the best!

Wao! quite an achievement i must say and best of luck to this project, now with all this great achievment LIFE TOKEN SWAP have gain so far in this project - 46 million tokens distributed and such amount of money committed to running this project,

Am wondering what would be the growth plan for LIFE TOKEN SWAP , once you have developed the online exchange ver 2.0  which I am sure you will be  a great experience and user friendly come Nov 1st when fully operational. What will the next objective in pipeline? also
how LIFE TOKEN SWAP plans to progress and target wider market? Is there plans to target other countries in the long run?

http://pinkexc.com/life.html This ICO aims to provide intant liquidity and banking services to the unbanked in South East Asia via deployment of 100 Bitcoin ATM all over the region and development of supporting merchants - A simple yet practical and impactful blockchain service. A low profile team and has been in business for the past one year. Token Swap is until 30th November 2017. Support and funding is highly appreciated

Update on LIFE Token Swap, so far about 46 Million Token has been distributed with 5 institutional groups and companis comitted in being the angel and about 150 plus individual shareholder. With these figure, amount committed to the program has reached USD3.5 million and at hand figure about USD1.4 million has been collected.

With these we are at one third of the way to meet the target in full 100 crypto deployment and 18 branches across South East Asia. Still a long way to go.

Our online exchange ver 2.0 just completed development and will be operational on 1st November 2017. Please mark it on your calendar

Pinkexc Update 

Pre-sale Price : USD 0.1875
Date : 1st Oct 2017 - 21st October 2017 

Currencies accepted : ETH/BTC

Or convert other currencies to ETH by using this links - https://shapeshift.io/shifty.html?destination=0x5d6481754e5081f8533f79186f31582b624ae48a&output=ETH

We are now accepting all crypto for swap, courtesy of Shapeshift.

Please checkout http://www.pinkexc.com/landing_presale/tokenswap.html

ABOUT LIFE TOKEN
LIGHTWEIGHT INTERMEDIARIES FOR EXCHANGE.

LIFE IS A UTILITY TOKEN TO BE USED ON PINKEXC PLATFORM. LIFE TOKEN IS ISSUED THROUGH CROWDFUNDING TO MAKE CRYPTO CURRENCY AND BLOCKCHAIN EASIER. FUNDS FROM LIFE TOKEN ISSUANCE WILL BE USED TO DEVELOP THE FOLLOWING.

View Contract Address on Etherscan.io:

https://etherscan.io/token/0xce61f5e6d1fe5a86e246f68aff956f7757282ef0

TOKEN SWAP TO START IN 17 DAYS, NOW OPEN FOR PRE-SALE

PINKEXC UPDATE :-

Pre-sale day! Why choose LIFE token?

Because our aims and vision aren't just paper statements. Pinkexc was the first Malaysian-owned exchanger, we would like to welcome more people to the crypto world ecosystem by building a network of Bitcoin ATM machine across SouthEast asia (100 units).

Every company can launch an ico/token swap. But when it's created by an innovative exchanger like Pinkexc, that's gonna take it to the whole new level.

Our aims is clear, and yes, LIFE token holder also can enjoy lot of benefits!

Ai) To ordinary life token holder the benefits will be as follows;

A. DISCOUNTS -
(i) Discount on platform Pinkexc usage, i.e. on trading transaction and withdrawal of LIFE from Pinkexc Online trading platform. The table and comparison for discounts given will be made available when Pinkexc new online trading platform went live on 1st October 2017.
(ii) Token holders will also enjoy a discount on buy and sell transaction when made on the ATMs.
(iii) Discount will also be applicable on merchants purchases when Pinkexc partnering merchants and retailers are recruited and on-board.

B. TRADE - Life token is tradable. LIFE token will be made transferable and tradable on Pinkexc Trading platform. It is targeted within the first 3 months of post Token Swap to be made available on 4 other exchanges and at least one of the those 4 to be a major exchange.

C. PROFIT SHARING -
(i) For holders with more than 10,000 LIFE, kept in a wallet for more than one-year, 25% of Pinkexc net profit will be disburse to them via a profit sharing pool. Payout will be made using LIFE token or when circumstances warranted in fiat as a bonus.
(ii) For holders with more than 100,000 LIFE token kept in a wallet for more than one-year, an additional 15% of Pinkexc net profit will be disburse to them via a profit sharing pool. Terms of payout will same as above.

D. BUY BACK PROGRAM
Pinkexc will allocate 20% of its annual net profit to purchase back LIFE token from the open market and sent to an address for burning. The burned address will be available for public audit and this will be done annually until only 50% of LIFE token left in the circulation.

I came across the information that you provide and it's interesting for me, because I'm in South East Asia. I would support your campaigns through Facebook and Twitter, when your campaign begins I will join.



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Hi! Thanks for supporting us. We are glad to tell that you can join those campaigns by our bounty programme at https://bitcointalksearch.org/topic/bounty-life-social-media-campaign-2197328 or be part of us by funding our programme at www.pinkexc.com

I came across the information that you provide and it's interesting for me, because I'm in South East Asia. I would support your campaigns through Facebook and Twitter, when your campaign begins I will join.

Why would you hold LIFE token.
Aii) The benefits of holding LIFE are as follows;

A. SOCIAL IMPACT -
There are a lot of crypto currencies came out and made claim to this, but at the end it just became another tool for speculation; with the technology or product being underutilized and never reach public adaptation. Pinkexc aims to make crypto currency serve the current practical needs so that acceptance to other solutions that blockchain got to offer in the future will be well received, not just by blockchain enthusiast but also the general public.

B. VALUE BUILD UP
Via having a practical usage platform; through the exchanger, ATMs and merchants, LIFE will have natural build up in value which is based on demand. not based on manipulation or speculation. Pinkexc hope for LIFE to be a healthier crypto currency alternative, where users can hope for a moderate gain from the asset rises in value and also at the same time have an asset with the currency like ability in terms of liquidity and immediacy of spending (divisible and ability to spend in small quantity without trading the whole value).

C. CONFIDENCE IN DELIVERY
Pinkexc has been in operation for over one year now, and during this period we also been doing development and fine tuning in the technology and its delivery to market. We have people from business and management consultancy on-board to complement the developers in ensuring the business side of things are in order. We also have garnered trust and confidence from our technology partners through the associations developed for the past years.

D. SOUTH EAST ASIA MARKET POTENTIAL AND DIVERSITY
The backlash faced from Chinese authorities on the usage and adaptation made South East Asia a much more viable option for crypto currency adaptation and blockchain propagation; with more than 600 million people, 70% are unbanked and 11 countries in this region, the opportunity are abundance and risks are spread out much better with not having one central authority throwing its weight around with bans and restrictions. South East Asian government are more progressive in its attitude towards blockchain based technology as can be seen displayed by the government of Singapore, Malaysia, Indonesia, Vietnam and The Philippines

E. DEVELOPERS COMMUNITY
Pinkexc has allocated a certain percentage of LIFE Token issuance and in the future a certain net profit to LIFE Foundation, to support the development of community based decentralized applications. We are looking to fund developers to work on the development of alternative solutions to currently available financial solutions like insurance, business funding, community investment and remittance. LIFE foundation also acts as the LIFE community of token holders’ charity arm with members have rights to vote to where the annual charity to be made out to.

Hi. You can view the details on etherscan - https://etherscan.io/token/0xce61f5e6d1fe5a86e246f68aff956f7757282ef0
and the source code from github - https://github.com/Pinkexc/LIFE

Regards

Bitcoin ATM is 'horrible for money laundering,' co-creator says
Why the Bitcoin ATM may not be the best option for illegal activity, and where it could start popping up soon.
               

On the surface, Bitcoin seems perfect for crime. The digital, peer-to-peer currency is largely known for its independence from governments or banking institutions, as well as its supposed anonymity.

Naturally, as a result, Bitcoin has been widely used on the black market website Silk Road, which has been called “the Amazon.com of illegal drugs.” Silk Road is designed to keep its users entirely anonymous as they conduct business with the site’s drug purveyors. Bitcoin has fit in nicely in this market, allowing distributors and customers to make their purchases without exchanging cash, and thus arousing suspicion from law enforcement. As of September 2012, Bitcoin transactions on Silk Road amounted to $1.9 million per month, Carnegie Mellon researcher Nicolas Christin told The Economist.


By this logic, the only advancement that could make Bitcoin a better fit for illegal online transactions is a simple, two-step method to turn physical cash into Bitcoins. Although Bitcoin can be mined, that process requires a computer to solve complex math problems, and is designed to become increasingly difficult and time-consuming. The alternative is to purchase Bitcoins, which can be done fairly easily online, but involves a cash transaction from a traditional online payment service. Theoretically, that’s where Lamassu’s Bitcoin ATM could come in handy.

Bitcoin ATM

Credit: Wikimedia

The Bitcoin ATM is exactly what it sounds like. A user enters a dollar bill, scans a QR code, and receives Bitcoins in their online wallet. The obvious market for the device is any individual or business who deals in cash and would rather save it in Bitcoin than in a less anonymous bank account.

However, Lamassu co-founder Zach Harvey says Bitcoin is “horrible for money laundering.” That’s because Bitcoin is not nearly as anonymous as it’s been made out to be.

“People criticize anonymity, and, well, Bitcoin isn’t supposed to be 100% anonymous, and I think expecting it to be is focusing on something that isn’t one of its main advantages,” Harvey says. “In fact, it’s probably the most transparent currency.”

Some simple research on Bitcoin shows that although transactions are conducted anonymously, they can be traced. The Block Chain logs and displays all Bitcoin transactions. Starting there, anyone interested enough to see where the Bitcoins used to make one transaction could follow its trajectory from its origins.

Some researchers have used these resources to try to track down Satoshi Nakamoto, the mysterious person (or persons) behind Bitcoin. In 2012, security experts Dorit Ron and Adi Shamir downloaded the entire graph for all Bitcoin transactions and followed them back to their origins, concluding that they all descend from one large transaction made in November 2010, which was covered up in an attempt at maintaining anonymity.

“Finally, we noted that the subgraph which contains these large transactions along with their neighborhood has many strange looking structures which could be an attempt to conceal the existence and relationship between these transactions, but such an attempt can be foiled by following the money trail in a sufficiently persistent way,” the report explains.

Ron and Shamir’s research also found that “most of the minted Bitcoins remain dormant in addresses which had never participated in any outgoing transactions,” suggesting that these accounts were created to store, but never use, the Bitcoins belonging to the system’s creator. Harvey believes these accounts have never made outgoing transactions because Bitcoin’s creator wishes to remain anonymous, and knows that making a single transaction could tip his hand.

It may be difficult, but Bitcoin transactions can be traced back to the accounts and people responsible for them. Those looking to hide illegally obtained money from law enforcement, which has its share of capable hackers on its side, may be better off using cash, Harvey says.

“It doesn’t matter how many times they split it up. All they need is a computer to backtrack that and find exactly what the source was,” he says. “So, people using old systems of money laundering to try to fuse that with the Bitcoin network are basically failing, and are very easy to find. It’s so bad that they could be money laundering for 10 years, and make one mistake down the road and you see everything they’ve done.”

Harvey co-founded Lamassu with his brother Josh and friend Matt Whitlock have developed a passion for the digital currency over the past few years. He acknowledges the many critics of Bitcoin, and was even skeptical himself when he first learned of it. But now, Harvey says he has “answers for pretty much all the criticisms” that he’s heard.

Perhaps more so than its supposed ties to criminal activity, Bitcoin’s volatility has been the focus of its critics. Its value is known to balloon, sometimes amounting to hundreds of dollars, only to crash shortly thereafter.

While that may be off-putting to those looking for a return on cash investments in Bitcoin, it’s not necessarily relevant for the larger movement, which aims to establish Bitcoin as a tool that simplifies global payments, rather than a get-rich-quick scheme.

“It is definitely volatile. It’s going up and down, and we can expect it to keep going up and down until it stabilizes when it gets to mass acceptance. But that’s just growing pains,” Harvey says. “And I think a lot of the people who are into Bitcoin don’t really focus on the price that much because they’re more excited about the technology and what it can enable, such as immediate transfers anywhere in the world.”

These advantages are broader for those using the Bitcoin ATM when dealing in cash, Harvey says. Convenience stores, for example, deal in cash every day, making them susceptible to robbery, be it from thieves or employees looking to skim a few dollars out of the register. Depositing cash into a Bitcoin ATM would remove that risk, transferring the money into a digital currency that is stored in an online wallet.

The potential for these use cases is what prompted Harvey and his co-founders to work on the Bitcoin ATM full-time. He and his brother were running an online guitar store based out of Manchester, N.H., as they experimented with Bitcoin in their free time. Roughly six months ago, they landed on the Bitcoin ATM, which excited enough people to convince them to launch Lamassu and build the device. They showed an operational product demo of the device at last month’s Bitcoin 2013 conference, and plan to begin production later in the summer. The company plans to sell the device for $5,000 for an individual unit, with a reduction for wholesale orders.

Lamassu has already seen global interest in its Bitcoin ATM, and Harvey is particularly interested in providing the device to third-world nations with limited banking resources. He compares the potential for Bitcoin in these regions to the boom in cellphone sales. With limited landline telephone resources in many third-world nations, cellphones became massively popular because private companies could build and distribute them without relying on a government-provided infrastructure. The Bitcoin ATM could accomplish a similar goal by providing a currency system to those who were previously limited to cash-only transactions.

“They would [meet] all those banking needs using Bitcoin, and they won’t ever have to use a bank account,” Harvey says.

For the time being, Bitcoin as a movement has its own issues to sort out, and Harvey acknowledges that. Security will need to improve for the online Bitcoin services that have been targeted for theft, but many in the industry believe that will progress as the system matures. Alternative digital currencies, such as Ripple or TerraCoin, stand to fragment the market, but Harvey says a simple software update could enable the Bitcoin ATM to support them.

Naturally, as the market expands, more services will emerge to help bridge the gap between today’s tech-savvy Bitcoin enthusiasts and everyday consumers who could benefit from it, Harvey says.

“The Bitcoin protocol itself is extremely simple. It’s just a matter of what services support it to make it really simple for those who are not tech-savvy,” Harvey says. “And that’s the kind of service I expect to see during this year and next really start to pop up.”

Colin Neagle covers emerging technologies and the startup scene for Network World. Follow him on Twitter and keep up with the Microsoft, Cisco and Open Source community blogs. Colin's email address is [email protected].

Hello, is it possible to have access to the ICO contract?

Please check our 'Be An Angel' program or 'Fund Our Project' section at life.pinkexc.com

Please check our 'Bounty Program' and 'Be an Angel Program' as well. Great benefits and giveaways available.

Yes, there is. The funds send will be escrowed in a multi signatory wallet which require 2/3 signature to release the funds.

There is a escrow?