[ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets - page 116.

LykkeX

full member

Activity: 210

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Quote from: cryptico on September 17, 2016, 07:16:33 AM

hello I sent you a PM but did not get an answer yet @lykkeX.

The android app is not sending the text message to my phone to finish the activation.

I have a xiaomi redmi 3 pro

Please contact [email protected] Will raise the issue internally again to solve this.

LykkeX

full member

Activity: 210

Merit: 100

Win 50 CHF Every Day During the Lykke Crowdsale

https://lykke.com/city/blog/2016-09-13/twitter_contest

cryptico

hero member

Activity: 700

Merit: 500

hello I sent you a PM but did not get an answer yet @lykkeX.

The android app is not sending the text message to my phone to finish the activation.

I have a xiaomi redmi 3 pro

LykkeX

full member

Activity: 210

Merit: 100

We envision the following technological and business roadmap ahead:
 Margin trading (Q4 2016)
 Regulated retail FX (Q4 2016)
 Offchain settlement scalable to 100’000+ transactions per second (Q4 2016)
 Ethereum support: multisig wallets, interblockchain atomic swaps (Q1 2017)
 Payment system provider (Q2 2017)
 Regulated institutional FX (Q3 2017)
 Fixed income products, commodities (Q3 2017)
 1 billion USD average daily volume (Q4 2017)

LykkeX

full member

Activity: 210

Merit: 100

Updated whitepaper: https://lykke.com/Whitepaper_LykkeExchange.pdf

LykkeX

full member

Activity: 210

Merit: 100

Quote from: tulipbubble on September 17, 2016, 03:24:42 AM

You opened this topic in March, any ico plans? Or are you still preparing the ico.

ICO is in progress for another 25 days - please see lykke.com/ico

Sept 16 results: total 393,877 CHF raised

tulipbubble

member

Activity: 87

Merit: 10

You opened this topic in March, any ico plans? Or are you still preparing the ico.

LykkeX

full member

Activity: 210

Merit: 100

Quote from: titan20 on September 16, 2016, 04:47:11 PM

Thanks for the answer.

Can you also tell something about third party risks?

For example: if i deposit euro's with you. Where are the euro's stored? is it in accounts of banks with whom you cooperate or are you yourself a bank?

What if you go bankrupt. To whom belongs the currencies and assets?

Good questions. Euro's are stored in the bank account (you should see banking details in the app. they might change, but we're now with one bank who takes Cryptocurrency business). In case of bankruptcy Swiss Law would apply. Lykke will not acquire banking license, but is already in the process of becoming licensed payment institute for e- and fiat money. I'm not familiar with all details. It is also changing rapidly, as there are not only the employees but a growing network of people with a lot of activity (last but not least the opensource code).

titan20

sr. member

Activity: 427

Merit: 250

Quote from: LykkeX on September 15, 2016, 02:58:37 PM

Quote from: titan20 on September 15, 2016, 02:24:15 PM

You earn money on the spread, not commissions.
I don't know what that means? How do you earn money on the spread? Can you explain with an example?

Good question. Yes, the spread is what a market-maker earns for offering bid and selling at the ask price. For this Lykke will employ quantitative models. E.g. if you go to the bank to buy Euros against d
Dollars today you pay say 1.1245$ per €. If you want to sell you might get 1.1244$. The 0.0001$ difference will be earned by the bank / broker as compensation. In Lykke's case the currency traded is a ColoredCoin (representing USD or CHF). The Bitcoin blockchain used as a settlement layer. Lykke matches orders and can hedge at other FX venues if it chooses to. The team has a lot of expertise in this area. We plan to write a whitepaper soon on this aspect of the marketplace.

Richard Olsen's book: https://www.amazon.com/Introduction-High-Frequency-Finance-Ramazan-Gen%C3%A7ay/dp/0122796713

Whitepaper on FX trading: https://lykke.com/city/_media/golubdupuisolsen.pdf

Thanks for the answer.

Can you also tell something about third party risks?

For example: if i deposit euro's with you. Where are the euro's stored? is it in accounts of banks with whom you cooperate or are you yourself a bank?

What if you go bankrupt. To whom belongs the currencies and assets?

LykkeX

full member

Activity: 210

Merit: 100

Quote from: JollyTrades on September 16, 2016, 02:58:38 PM

Howdy monsters,

You are more than welcome to our slack channel Cryptocopia (invitation link), which will host an investor's Q&A session with Lykke co-founder and COO Prof. Sergey Ivliev on Tuesday, September 20, 2016 at 2pm (UTC). Follow the link to see it in your local time: https://bit.ly/2cdd5QA

You may post questions in the slack channel!

In cryptography we trust,

Jian

Confirmed. Thanks.

JollyTrades

hero member

Activity: 602

Merit: 500

Howdy monsters,

You are more than welcome to our slack channel Cryptocopia (invitation link), which will host an investor's Q&A session with Lykke co-founder and COO Prof. Sergey Ivliev on Tuesday, September 20, 2016 at 2pm (UTC). Follow the link to see it in your local time: http://bit.ly/2cPZHHQ

You may post questions in the slack channel!

In cryptography we trust,

Jian

mtnsaa

legendary

Activity: 1568

Merit: 1000

Quote from: jupiter00000 on September 16, 2016, 01:15:57 PM

Quote from: mtnsaa on September 16, 2016, 12:29:22 PM

Quote from: jupiter00000 on September 16, 2016, 09:38:32 AM

Quote from: LykkeX on September 15, 2016, 01:51:22 PM

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a?platform=hootsuite#.ct1x0c2e1

Not worth taking the time to explain to us your insane valuation? You expect 1 billion dollar daily trade volume by the end of next year. Seems pretty confident. What makes you so confident? All you have is an app, like getgems. But with less features than getgems. They had a larger community and more features and look where they are now. And yes, we all know that centralized exchanges are doomed to fail. That's why we have bitsquare, wavesplatform and syscoin - which is still 50% vapor, but they aren't making crazy statements like 1 billion dollar daily trade volume by next christmas. I'd like to see what information validates your assumption of 1000× growth in a year.

They are not promising anything, that's the goal and considering how the the app works and how straight forward the whole system seems to be I don't think it's unrealistic at all.

You think 8k sats for 1 LKK is overvalued and you name unusable vaporware like bitsquare, waves and syscoin as legit projects? Those are the ones that are way overvalued if you ask me. And by the way, the price doesn't change if you invest more like in Waves where investors got screwed when it was overfunded.

30M are for sale at that price and that's it, they are not looking to hoard as much BTC as possible and investors be damned. Another huge plus in my opinion, very clear and honest approach.

Oh I would never say those projects are confirmed legit - but they have market values far below Lykke and they seem to have a similar product and ambition. The Lykke literature anticipates a valuation beyond the marketcap of Bitcoin within 400 days and I just find that unrealistic. Thanks for sharing your opinion. I really like the popular new focus on blockchain assets and it will be interesting to see who comes out on top. I really enjoy the Colu interface for creating custom assets on colored coins, and I hope this project will be as capable of doing all that and more soon.

Hmm I don't think 1 billion trade volume translate into LKK marketcap and valuation, but on the services and products they provide on the marketplace and exchange. It already works flawlessly and it's very user friendly so I would definitely think of moving there from Poloniex, at least part of my daily trading holdings.

Sorry if I misunderstood you but you can't really compare it to Waves or similar unproven projects. Lykke is a full fledged company already funded that have a working product and regulations in place. It may not pan out of course, you can invest or not.

I would definitely agree with you if the set price was above Waves or Lisk from the get go (actually it may even be acceptable if you ask me) but saying 8k sats is completely inflated and overvalued...really?

jupiter00000

member

Activity: 111

Merit: 10

http://jupitertheproducer.bandcamp.com

Quote from: mtnsaa on September 16, 2016, 12:29:22 PM

Quote from: jupiter00000 on September 16, 2016, 09:38:32 AM

Quote from: LykkeX on September 15, 2016, 01:51:22 PM

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a?platform=hootsuite#.ct1x0c2e1

Not worth taking the time to explain to us your insane valuation? You expect 1 billion dollar daily trade volume by the end of next year. Seems pretty confident. What makes you so confident? All you have is an app, like getgems. But with less features than getgems. They had a larger community and more features and look where they are now. And yes, we all know that centralized exchanges are doomed to fail. That's why we have bitsquare, wavesplatform and syscoin - which is still 50% vapor, but they aren't making crazy statements like 1 billion dollar daily trade volume by next christmas. I'd like to see what information validates your assumption of 1000× growth in a year.

They are not promising anything, that's the goal and considering how the the app works and how straight forward the whole system seems to be I don't think it's unrealistic at all.

You think 8k sats for 1 LKK is overvalued and you name unusable vaporware like bitsquare, waves and syscoin as legit projects? Those are the ones that are way overvalued if you ask me. And by the way, the price doesn't change if you invest more like in Waves where investors got screwed when it was overfunded.

30M are for sale at that price and that's it, they are not looking to hoard as much BTC as possible and investors be damned. Another huge plus in my opinion, very clear and honest approach.

Oh I would never say those projects are confirmed legit - but they have market values far below Lykke and they seem to have a similar product and ambition. The Lykke literature anticipates a valuation beyond the marketcap of Bitcoin within 400 days and I just find that unrealistic. Thanks for sharing your opinion. I really like the popular new focus on blockchain assets and it will be interesting to see who comes out on top. I really enjoy the Colu interface for creating custom assets on colored coins, and I hope this project will be as capable of doing all that and more soon.

mtnsaa

legendary

Activity: 1568

Merit: 1000

Quote from: jupiter00000 on September 16, 2016, 09:38:32 AM

Quote from: LykkeX on September 15, 2016, 01:51:22 PM

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a?platform=hootsuite#.ct1x0c2e1

Not worth taking the time to explain to us your insane valuation? You expect 1 billion dollar daily trade volume by the end of next year. Seems pretty confident. What makes you so confident? All you have is an app, like getgems. But with less features than getgems. They had a larger community and more features and look where they are now. And yes, we all know that centralized exchanges are doomed to fail. That's why we have bitsquare, wavesplatform and syscoin - which is still 50% vapor, but they aren't making crazy statements like 1 billion dollar daily trade volume by next christmas. I'd like to see what information validates your assumption of 1000× growth in a year.

They are not promising anything, that's the goal and considering how the the app works and how straight forward the whole system seems to be I don't think it's unrealistic at all.

You think 8k sats for 1 LKK is overvalued and you name unusable vaporware like bitsquare, waves and syscoin as legit projects? Those are the ones that are way overvalued if you ask me. And by the way, the price doesn't change if you invest more like in Waves where investors got screwed when it was overfunded.

30M are for sale at that price and that's it, they are not looking to hoard as much BTC as possible and investors be damned. Another huge plus in my opinion, very clear and honest approach.

LykkeX

full member

Activity: 210

Merit: 100

iPhone app is back in the app store after brief block in China: https://twitter.com/LykkeCity/status/776827926696357892

LykkeX

full member

Activity: 210

Merit: 100

Quote from: jupiter00000 on September 16, 2016, 09:38:32 AM

Quote from: LykkeX on September 15, 2016, 01:51:22 PM

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a?platform=hootsuite#.ct1x0c2e1

Not worth taking the time to explain to us your insane valuation? You expect 1 billion dollar daily trade volume by the end of next year. Seems pretty confident. What makes you so confident? All you have is an app, like getgems. But with less features than getgems. They had a larger community and more features and look where they are now. And yes, we all know that centralized exchanges are doomed to fail. That's why we have bitsquare, wavesplatform and syscoin - which is still 50% vapor, but they aren't making crazy statements like 1 billion dollar daily trade volume by next christmas. I'd like to see what information validates your assumption of 1000× growth in a year.

The scope of Lykke is entirely different from other cryptocurrency projects, in that blockchain is viewed as a settlement system for traditional financial instruments. That explains the ambition in volume. Lykke brings in the knowledge of finance, where as cryptocurrency usually is bank hostile, and don't have the connections and knowledge to implement this. Lykke will acquire full license as an exchange (MTF) in the UK. Lykke has already presented the app and discussed with people in ECB and Swiss National Bank. To build these relationships requires expertise and a certain background. From that point of view maybe Ripple might be more comparable, although even then the model of trust is very different. Lykke's plan is to use blockchain as a settlement mechanism. Lykke has not its own blockchain. It uses Bitcoin ColoredCoins (Openasset protocol).

About price - participants will make their own judgements and the price will adjust accordingly. Certainly it is a risky investment. Yes, the annual reports and other filings give indication about the business plan. I can forward any more detailed questions to the COO. I think some AMA is planned for next week.

Xeelee

full member

Activity: 165

Merit: 100

Quote from: WorldCoiner on September 16, 2016, 09:56:02 AM

Quote from: jupiter00000 on September 16, 2016, 09:38:32 AM

Quote from: LykkeX on September 15, 2016, 01:51:22 PM

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a?platform=hootsuite#.ct1x0c2e1

Not worth taking the time to explain to us your insane valuation? You expect 1 billion dollar daily trade volume by the end of next year. Seems pretty confident. What makes you so confident? All you have is an app, like getgems. But with less features than getgems. They had a larger community and more features and look where they are now. And yes, we all know that centralized exchanges are doomed to fail. That's why we have bitsquare, wavesplatform and syscoin - which is still 50% vapor, but they aren't making crazy statements like 1 billion dollar daily trade volume by next christmas. I'd like to see what information validates your assumption of 1000× growth in a year.

The Founder already did this with the company before. This makes him confident. This is not a typcial Cryptoprojekt with a part time dev + one communication guy.
This is an already working company with 15 employees and Nick Szabo in the advisory board. Try out the app, it's already working and quite nice and smooth.

True, they are sitting here in Zuerich and introduced Lykke in a conference at Tuesday. Bought some with the app. It was quite easy.

WorldCoiner

hero member

Activity: 1069

Merit: 682

Quote from: jupiter00000 on September 16, 2016, 09:38:32 AM

Quote from: LykkeX on September 15, 2016, 01:51:22 PM

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a?platform=hootsuite#.ct1x0c2e1

Not worth taking the time to explain to us your insane valuation? You expect 1 billion dollar daily trade volume by the end of next year. Seems pretty confident. What makes you so confident? All you have is an app, like getgems. But with less features than getgems. They had a larger community and more features and look where they are now. And yes, we all know that centralized exchanges are doomed to fail. That's why we have bitsquare, wavesplatform and syscoin - which is still 50% vapor, but they aren't making crazy statements like 1 billion dollar daily trade volume by next christmas. I'd like to see what information validates your assumption of 1000× growth in a year.

The Founder already did this with the company before. This makes him confident. This is not a typcial Cryptoprojekt with a part time dev + one communication guy.
This is an already working company with 15 employees and Nick Szabo in the advisory board. Try out the app, it's already working and quite nice and smooth.

jupiter00000

member

Activity: 111

Merit: 10

http://jupitertheproducer.bandcamp.com

Quote from: LykkeX on September 15, 2016, 01:51:22 PM

https://medium.com/@pullnews/are-coinbase-kraken-and-poloniex-doomed-to-fail-2739153d033a?platform=hootsuite#.ct1x0c2e1

Not worth taking the time to explain to us your insane valuation? You expect 1 billion dollar daily trade volume by the end of next year. Seems pretty confident. What makes you so confident? All you have is an app, like getgems. But with less features than getgems. They had a larger community and more features and look where they are now. And yes, we all know that centralized exchanges are doomed to fail. That's why we have bitsquare, wavesplatform and syscoin - which is still 50% vapor, but they aren't making crazy statements like 1 billion dollar daily trade volume by next christmas. I'd like to see what information validates your assumption of 1000× growth in a year.

LykkeX

full member

Activity: 210

Merit: 100

Quote from: Geenstijl on September 16, 2016, 07:41:59 AM

Quote from: DaddyH on September 16, 2016, 06:06:27 AM

Wallet doesn't work on my Samsung S6 Edge (5.1.1).

I've installed app, but when the email registration page opens - the "Sign up" button is disabled. Even after typing my email address (pressing "enter" doesnt help either).

My app works really well on the Galaxy s7.

I was wondering... what is this SHEELA/EUR market? It says it's a song?

Thanks for the question. It is asset for the music rights on the song. ColoredCoin is here: https://www.coinprism.info/asset/ARfFat3oFn3yarbbWsCtESViBGAzgaGkyM

We should list the terms for some of the new issuance on the website as well. Will forward this. Information on LkkUSD, etc. is given here: https://lykke.com/term_conditions_colored_coins.php

Topic: [ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets - page 116. (Read 144625 times)