Topic: [ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets - page 41. (Read 144639 times)

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.  

The user you are speaking about (and I'm sure that he also has a bitcointalk-account) called me delusional, idiot, scum, enemy, etc. while I just wanted to level that topic down. I'm not interested that the Lykke-Slack becomes an "Attention-on-Pillar-Slack" and that guy has tried a lot to give the impression as if Pillar would be of high importance for Lykke while attacking me, claiming I would or should work for Pillar and leave Lykke.

And of course, I'm no one who simply accepts if somebody speaks that way with and about me. You are free to interpret that as trolling and of course you are also free to sell your LKK.

Especially the latter is interesting, because it shows how personal this topic seems to be for you. But if you sell because you don't like me I can reassure you that I'm not that important. If you are scared that Pillar might be a competitor for Lykke: Same... I know nobody who believes that.

Really liking the practice margin trading. Good for messing with some currency pairs.

Also looking at the roadmap it looks like web based trading might be soon-ish? https://trello.com/b/IV0PH2gs/lykke-roadmap
Of course happy to wait til it's 100% ready to go

Your fake news like cnn I watched you trolling the guy. You also stated David helps lykke and is part of the slack. And then he makes Pillar ico =). I sold all my lykke. Gl with the project to everyone invested.

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 think you should just move on since you don't even have the basic understanding of how Lykke or any similar fintech company/exchange work. Maybe you should go to Coinbase or Shapeshift threads and give them some hell too.

If you don't like the prices or prefer limit orders (which should be implemented in the next months) no one is forcing to buy. By the way try buying 1000 ETH at Bittrex or Kraken where limit orders are possible and see if the price doesn't move when you finish (up or down). And don't forget to add withdrawals and commission fees on top of that.

I'm quoting this so your ignorance on how exchange markets work is preserved for all to see.

You've lost any credibility you had with this incredibly ignorant display. Please, read up on how exchanges work, how markets work, and read the previously provided link on Lykkes trading algorithm.

And once again the Lykke "algorithm" manipulates the price - try it if you don't believe me - try selling LKK buying $1000, then $10,000 USD - the more LKK you sell the worse the rate (you get less USD per LKK the more you sell). Now selling USD to buy 5,000 LKK, now try 10,000 LKK, now try 100,000 LKK - the more LKK you buy the better the rate you get (you get more LKK per USD the more USD you sell).

You can try this out on the app yourself, you can test out the order without finalising.

The more chaos and drama in the cryptomarket, the more selling and buying. As the market maker, Lykke earns money with every sale and purchase of coins on their platform. If lykke gains money, the project gains money and becomes more valuable. As a shareholder you gotta hope for more turbulent times like these!

I should do research? How about this research, getting public admission here in the post above for the first time I've seen anywhere publically that Richard owns the majority of LKK?

Your point is my point - he's the one who stands to gain the most, but it's the crypto investors who funded it, and stand to gain a little or lose a lot.

Wow, thanks, learnt something today. In future I'm going to only invest in companies/coins where the founders own almost none of the shares so they have no chance of profiting  .

On a more serious note, the price is "manipulated" by the algorithm described here: https://www.lykke.com/asset/doc/marketmaking.pdf. Why don't you spend more time researching first before speculating without basis?

I called it a good investment when you bought it at five cents. Why does that surprise you? Unlike you I don't have a wheelbarrow to push except transparency. If you cashed out now you'd have made 5 times your investment. Yes that's a good investment in my books. But no, I don't think it would be  a good investment for latecomers who buy high from early investors and face much more downside risk.

Finally someone admits Richard owns most LKK, after all the stonewalling. You don't think that confirms my suggestion that Richard stands to make most of the profit, or that it is a make him richer scheme? Okayyyyy...

Anyway, short term Richard can totally manipulate LKK price to stop it going down, thanks to an in-house "algorithm" which I noticed last night favoured price going up: in other words, the larger the LKK sale the fewer USD per LKK you got, but the bigger the USD purchase of LKK the more LKK you got per USD. No price transparency at all, very heavily manipulated, and I can't see a US regulators having a bar of it. I also think as we get to the sharp end of Segwit 2x activation there's a limit to how much funny business with the "algorithm" determining the LKK price will be able to stop people running for the doors.

Regarding the wallets: I already said in my last post that Lykke will publish a list of owners. Richard Olsen holds most of course, but it's also about team and board members.


Regarding the price: It's not a problem if you point out your opinion about the price. But after all what you've said about Lykke being a scheme and your other concerns I'm really surprised that you still call it a good investment - that even more gives me the feeling that you simply want to talk the price down, especially because you put so much effort in it. I know that game and I reply. It's that simple.

Pillar is not related to Lykke. There are also no relations between Lykke and Mothership.

People are free to build teams and to present their whitepapers and goals to potential Investors who have to come to own conclusions and to make their choice if to invest in a project or not. And it’s always a good choice to dig deep to find out if something may have quality and a chance or not. I personally don’t know anything about mothership so far and if it could be seen as similar to Lykke or even a competitor. What I know about Pillar - I have zero concerns that it could turn out as competitor.


About this:

"Someone complained about someone copying the Lykke project and Tempus was trolling the guy acting very strange so I decided to start researching."

I didn't defend Pillar in any way, but I disagreed with implications that David Siegel is a scammer or "stabbed Richard in the back". As far as I know: Nobody in Lykke is concerned about Pillar. The rest of the discussion on slack was pretty personal because I then was accused to work for Pillar or that I should leave Lykke to work for Pillar, being a scum and delusional and so on - so I just defended myself.

Lykke and Pillar Project coming out with a ICO is almost the same project. The guy making the Pillar Project work in Lykkes slack channel and wrote an article for them https://medium.com/@pullnews/the-story-of-the-lykke-coin-251b8179480c.  Someone complained about someone copying the Lykke project and Tempus was trolling the guy acting very strange so I decided to start researching. I would think his reaction is wow i need to tell Richard about this. This is the pillar project https://us.pillarproject.io/. Also the story of the pillar project just like the lykke project... https://theascent.biz/the-story-of-the-pillar-project-bc7a653c8931. There is another one called the mother ship same idea and the road map is formatted just like the lykke roap map. Not sure now if Lykke is for real or just rolling out ICOs with the same idea.

I have repeatedly said it was a.good investment at 5 cents when u bought it as it was a cheap ico. Rich was still going to make most of the money but downside risk for investors was less. Ive been saying since it was around 40 cents i think it is overvalued and going down,  at 26 cents now i think downside risk is high and it can fall further. We find out in a month i guess. I dont think i have to be totally one sided to pursue a legitimate line of reasoning, in answer to your question.

And who owns the two wallets with majority of total LKK supply?

1) You don't come just on Bitcointalk for a few minutes but you post in two threads and you post all over the Lykke-sub. And again: Nothing wrong with that and understandable that you would prefer to place your message without response, but it's pretty simple: If I have time, I reply.

2) My motives: I'm invested since September 16 and I also work for Lykke. mtnsaa also works for Lykke btw. We give infos, reply on questions, we are also free to point out our personal opinions, we chat with users and Investors, if needed we try to help if users need support etc.
 





I'm invested yes, but I wouldn't call it massive. And I don't trade much. I invest in projects I believe that have chances to turn out as pearls and then I usually hold and also take the rollercoaster.



Interesting that you call it a good investment now. What did I miss? Didn't you say it's a "make Richard Olsen richer scheme"? Why is it a good investment now? Because the price goes back up?

And I don't dupe latecomers. I give informations, I reply on questions, I also defend Lykke if somebody tries to spread misleading informations like you try that with your talking about a scheme, your focus on the price and saying LKK would have gone down before everything else and so on. And especially that point is really interesting if we look at one of your favorites: Zencash and when it was dumped and how hard (from about $19 to $4) and on your reactions on it. ;-)



I just replied on your posts. If you want to know if I'm 100% happy: No, I'm not. There have been several delays for example. Limit orders are not there yet or the web-based-terminal, Ethereum-implementation caused some trouble, support sometimes was overwhelmed etc. I've never said that Lykke is perfect. It will need a lot of improvements and that are no secrets.

But is that in any way unusual in this space or software-development in general? I don't think so. I know a lot of good projects but not a single one without delays, setbacks, tech-problems, rolloercoaster on the market etc.




I've asked and they'll publish a list of holders, executive team and board members.



The regulatory topic is not really what I'm very familiar about. Feel free to see that how you see it and not to invest and not to use Lykke. Still interested why you said "good investment" above.



Yes, not new to me. You've spread that over and over again on Bitcointalk and reddit.


- I will also buy Lykke - less than the 23 cents it is now - or cheap (less than 10 cents would be definitely cheap!)
- Me too, I definitely think 8 cents will be a buying opportunity.
- I see 10-15 cents a real possibility now, with drops below 10 cents being heavily bought.
- I'm expecting 10-15 cent LKK, with potential dips below being aggresively bought.
- LKK is going well below 20 cents, hold your horses to 10-15 cents
- I see 10-15 cent LKK short term.
- Now I'm predicting 10-15. There's way more downside to play out yet.
- since the altcoin crash I see LKK going to 10-15 cents

https://www.reddit.com/user/playingpoodles

....only reddit-quotes about the price, not even all, and only about 24-48 hours. And what I find revealing is that you mix that up with your theories about Richard Olsen and Lykke to be a "scheme", claims the price would be backed by him, claims LKK would have gone down before the whole market went down, all your other concerns - but still: you want to buy and call it a "good investment".

I think it's obvious that I also have a theory about you, right?

Let's see if it will help to get it cheap. ;-)

I come on Bitcointalk for a few of minutes and express a short view, then you quickly post paragraphs of what I think is sometimes fairly disingenuous responses - but my motive's the one to worry about? What's your motive? What you're a massive early investor looking for a price pump for the cash-out? You picked a good investment early, no need to dupe latecomers. It never rings true to me when everything someone says about something is positives with ne'er a single negative.

You can't tell me who owns the 2 wallets - Lykke can't tell us who or why 2 wallets own most LKK, great transparency.

No, I don't really consider a Vanuatu brokerage license "approval" for our purposes - it's a few steps ahead of "I got approval from my mum" but not that many. (No offence to Vanuatuans, my point is, what's Vanuatu got to a Swiss based crypto trading startup?).

I already stated my views about LKK risking big drops well before the price crash these two weeks. Who knows about price in cryptoland - it goes up, it goes down, up, down - personally I do think short-term Lykke is falling to 10-15 cents, with dips below that being buying opportunities. I'd certainly buy under 10 cents.

Of course you are free to express everything what you think. But also of course: For me it's at least an info to think about intentions whenever I see somebody who posts on all places and several threads (I'm Ph03n1xII on reddit btw). If you believe it's needed to do that because you want to warn people - fine. But most of your talking was about the price and it's a usual game in Crypto that those who are not invested or not invested any more would like to get a cheaper price.


"(i) there is zero price transparency of LKK because it's not free floated, there's no limit orders"

Yes, limit orders are not possible yet but will come. Lykke is simply not a totally finished platform yet. At the same time Investors still make decisions to buy or sell at certain prices and that moves the LKK-market. That's the reason why the price increased over the last months and that is also the reason why the price recently went down - pretty much in line with the overall market.

(ii) it's unlicensed and has a tiny userbase

Lykke is not without any licenses:

Lykke Exchange Granted Financial Brokerage License in Vanuatu
http://www.financemagnates.com/cryptocurrency/exchange/lykke-blockchain-exchange-granted-financial-license-in-vanuatu/


...and there is progress on the regulatory front:

• EU broker license. Our application for a Cyprus Investment Firms license for Lykke Cyprus Ltd. is on the fast track at CySEC, the Cyprus Securities and Exchange Commission. We recently received a letter from CySEC containing general questions about Lykke and requests for additional documents. The team is hard at work preparing our official response.

• EU EMI license. Our Electronic Money Institution application is ready to be submitted to the Central Bank of Cyprus, including the capital requirement of €350,000. Lykke EMI is engaged with various banks to support our payment processing strategy. New systems and controls are now in place, pending activation of electronic payments.

• UK MTF license. The Multilateral Trading Facility package is facing some new delays due to the updated FCA requirements for UK-based MTF. We are updating our IT Strategy document and the application package to match the new requirements of the FCA.

https://www.lykke.com/city/blog/lykke_heat_from_the_global_street

(the post gives more infos, also about Singapore and the USA)


(iv) most coins are beneficially owned by one man, the founder - two wallets contain over 50% of coins. If you want the wallet addresses ask me https://blockchainexplorer.lykke.com/asset/AXkedGbAH1XGDpAypVzA5eyjegX4FaCnvM


Right now I don't have the info about the first two wallets but about Richard Olsen:

"Richard Olsen is the only significant shareholder with a holding in excess of 10 percent."
https://www.lykke.com/Lykke_Corp_Placement_Memorandum.pdf



Especially this is really wrong:

"My basic point is that Lykke is a risky "make Richard Olsen richer" scheme. All the small crypto traders take all the risk providing funding, but Richard gets the lion's share of the coins and no risk - if the "dream" is realised Richard will be much richer, and all the crypto investors will be a bit richer. If it isn't, Richard loses nothing, but all the small crypto investors lose all their investment.

That's the truth - you don't like me writing it, fine."



Richard Olsen is Lykke's biggest Investor. Nobody would lose as much as he would and not only but also money. If you call your assumptions "truth" I'm not sure how you define that word.

Yes I have gone and expressed my reasoned positions. I post because I am interested in this space and have concerns about Lykke including:

(i) there is zero price transparency of LKK because it's not free floated, there's no limit orders
(ii) it's unlicensed and has a tiny userbase
(iv) most coins are beneficially owned by one man, the founder - two wallets contain over 50% of coins. If you want the wallet addresses ask me https://blockchainexplorer.lykke.com/asset/AXkedGbAH1XGDpAypVzA5eyjegX4FaCnvM

My basic point is that Lykke is a risky "make Richard Olsen richer" scheme. All the small crypto traders take all the risk providing funding, but Richard gets the lion's share of the coins and no risk - if the "dream" is realised Richard will be much richer, and all the crypto investors will be a bit richer. If it isn't, Richard loses nothing, but all the small crypto investors lose all their investment.

That's the truth - you don't like me writing it, fine.

"But you have special theories for Lykke? See, what I find interesting is that you put in some effort in your price talking about Lykke. 2 threads on Bitcointalk and also on reddit."