Topic: [ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets - page 40. (Read 144625 times)

Coinmarket cap gets to decide what to include in a coin's marketcap. It chooses coins in free float. Whether this is right has been argued at length all over Reddit and Bitcointalk. I have my own view, but that's not important, what's important is coinmarketcap's view, and I think they're entitled to it. Ie. they're not breaking any law or regulation by doing it their way.

I don't see why everyone is so keen to see LKK's full value list on coinmarketcap. XRP people used to demand the same thing (coinmarketcap didn't oblige). Also don't see why people want the full value of LKK including the super-majority not in free float in the owners wallets published. A lot of people have bought into LKK thinking it's a "bargain" at the $50-something million mark. If they saw it was close to $400 million, it wouldn't look like such a bargain.

I don't see it that way. The stock market is not the cryptomarket. You don't have regularly released shares every X minutes, you don't have shares "lock up in smart contracts". When shares are held by founders or original investors, they are considered in the market cap calculation.

Shares are standardised. Coins aren't. That's why they should go with the total current supply = market cap, not free float. Free floats up for interpretation anyway as you can see with Lykke.  There's tonnes of other coins out there where the "founder coins" are counted, but LKK coins aren't.

To me, it makes no difference, but I really dislike how misleading it is for other people who rely on coinmarketcap.

It makes valuations crazy. Look at something like BITOK. I have no idea what it is, pretty sure it's just a scamcoin, but it's value is utterly stupid because coinmarketcap hasn't given it a circulating supply value and thus it's ignored in their calcs. If you did the total supply market cap it's value was $100,000,000,000. Somebody figured that out 2 or 3 days ago and the price cratered from $50 to $0.16. But this is the madness that happens when values aren't calculated properly.

If we take the stock market for example the marketcap is composed of public available shares. CMC has to list so many projects with so many different and nuances that I don't understand why it's always under fire

Thanks Mann, lets hope this capital injection bring some tranquility to the shareholders... (EDIT) I personally think is a good gesture.

Another silly question: Every lykke wallet is, at the end, a bitcoin address, right? If this is the case, and a split happens (two or three blockchains) does it give us any right over the split result?

In case of a hard fork (though unlikely) Lykke will support both chains and make a market of both versions of BTC. Colored coins will be supported only on one of the chains, which is going to have majority of the hash rate

Yes, it means that you'll get LKK in 365 days (1:1 for LKK1Y).

If you go on settings --> history you should see an incoming transfer plus date of settlement (July 16, 2018).

Man, I triggered the settlement today: that means I frozen those lkky1 for one year from now? Or have more implication?

I really wish coinmarketcap would display the true market cap instead of the free float, it's very misleading since pretty much the entire crypto space uses that website

Lykke told CMC about the transfer supply from old coinprism-addresses to the trading-section before, but once it happened, CMC back-updated and displayed the old number. I don't know if there is a new status but yes, in their opinion only the supply that was sold to the public should be displayed as circulating supply.

But, the most important aspect about that is transparency about the total value (total supply multiplied with price), because Lykke first got some critique that only what was sold to the public was displayed as "marketcap" (CMC changed that later to circulating supply) and then there also have been some critiques about the transfer.

And on the Invest-page, independently on what is in the trading or private section or coinprism addresses, the total value is displayed as marketcap now so that everybody can check on one look.

https://coinmarketcap.com/currencies/lykke vs https://www.lykke.com/city/invest adjustement

Around $20 Millions market cap release this night to adjust Coinmarketcap with Trading wallets.

By reading discussions, Lykke has plan to release all coins after the Assembly, but CMC don't agree. Do you think this change is a compromise that Lykke have made with CMC?

Lykke is built on colored coins protocol (bitcoin blockchain) and I think they just recently announced the intent to migration to Ethereum. Lykke is build and supported by FX traders, so it's half wallet, half trading platform.

I use Lykke wallet and I don't see these transactions added in my wallet.
Can someone from Lykke please help me to identify the issue here?
https://blockchain.info/tx/0e20848b2ff9af85b32b45f983cc55acce02cb8853499e22f8ae47a4f225ee55

https://blockchain.info/tx/47769f901e88b5469335d3cb085fa135c80562d6a46bfb6eeac13eed5ad7b9d3

What surprises me, or actually I'm not really surprised, is the inconsistency of your argumentation. On one side you come up with hard accusations. You talk about Lykke as a "scheme", you claim the market would be manipulated, Richard Olsen himself would intervene on the market, and so on. At the same time you speak about Lykke as good investment. And sure, I get your point because that is the only one that is consistent: The price. And that is the constant message you spread on two threads here and several topics on reddit and THAT shows consistency.

And one more time: I don't want to say that there shouldn't be different opinions about total value and price. It's the way you combine things and spread your message that is revealing.

Another thing is: If one wants to attack a project, that is always possible, especially if done with theories like you come up with.

- price goes down: that is about Lykke only underlined with the lie LKK would have went down before others did
- price goes up: Richard Olsen manipulates the market

Or supply and distribution: If founders and team-members wouldn't have so much skin in the game it would be easy to attack that, to come up with the claim they would only care about selling LKK to make money. If they hold a lot, and we are speaking about ownership here, you see a problem in that.


So let's not forget your priority: Cheaper price because after all your accusations you still consider Lykke as good investment. That intention is the only consistent reflection in the way you communicate.

I'd rather they go slow and make sure everything is well tested before going live with either web or limit trading. That's the way to keep people happy and make the best product. Also I think those two will bring in a lot of new users which will be an added stress test.

There have been some delays recently, especially that the Limit Orders release takes longer than expected has lead to some disappointment, what is understandable of course. That is a reason why everybody is carefully with giving ETA's but the team is aware that also the web-based-terminal is eagerly awaited.