Topic: [ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets - page 64. (Read 144625 times)

Good to hear that the problem is solved!


First: Lykke is currently in the process to get regulated in the USA and during that time no new customers will be verified. If you are from the USA it's possible that it won't be possible to deposit Fiat. I don't know right now if new US-citizen are totally blocked or if it's only about the verification-process (Selfie, Photo of ID, photo of address).

If you are not from the USA you would need to the verification-process first to be able to deposit and withdraw fiat. But it's simple: If you click on the + next to Euro (or CHF or other FIAT) the verification-process should start. It will take some time (maybe 48h) and you should get a confirmation-mail.


To buy and sell etc. you need funds in your trading-wallet (you have bitcoin now if I understand it correctly). You can type on "exchange" and you see all pairs that are available until now (more will follow, like Chronobanks Time-token, Ethereum and others). You can type on one and the rest should be pretty much self-explaining. With the next release of the App it will be even more intuitive/easy.

A very good overview about the current version as videos is this:

Tour of Lykke wallet
https://www.youtube.com/watch?v=oFsI6QgZunI&list=PLk9DrzhaS5AjlYColQnvU6R17MNNNhihK

And here a demo-video of the next release - focus on margin trading:
https://www.youtube.com/watch?v=DUwhxfc3fi0

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Colored Coins are technically Bitcoins (but very small units of BTC) and can represent different assets. Lykke-Coins for example are colored coins = small units of Bitcoin as representation of Lykke-shares. Same can be done with pretty much every value one can think of. Like Lykke also other companies could give out colored coins as company shares, colored coins can also represent fiat (that's also done on Lykke) or gold or even houses etc.

A good explanation is this: https://en.bitcoin.it/wiki/Colored_Coins

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Yes, a web-based-terminal is in development and a desktop-client is also planned. Lykke will change and grow dramatically over time. The App is just the beginning.

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LKK1Y are forward contracts of LKK. Recently Lykke did a crowdfunding and sold LKK1Y-tokens for about 20% discount to LKK-shares. There are basically two possible scenarios:

1) To lock the LKK1Y-tokens up for 365 days. After 1 year LKK1Y will be swapped to usual Lykke-shares.
2) To trade the tokens as contracts (and a buyer could lock them up for example).
 

A deeper explanation can be found here:

What is Lykke Forward?
https://www.lykke.com/city/blog/what_is_lykke_forward

@tempus

Yes it's solved, thanks very much  , I'll take this occasion to ask a few questions about Lykke:

What are currently, the steps to trade / withdraw / deposit EUR or USD to the lykke wallet ?

I don't really understand the concept of colored coin, what does it mean ??  

Do you plan on launching a desktop / web platform in addition to the mobile app ? It could accelerate a lot the usage of lykke exchange ...


EDIT: on the app, I see there's LKK and LKK1Y coins, what do LKK1Y represent ??


That's al for now, thanks for your time

@lamouette: just got the info that a user (maybe you?) wrote to support with the same issue and it's solved. And they'll update the client.

If it was another user and your problem isn't solved yet, please write to support. They would need the email address you used to register on Lykke.

What you could do is to check both addresses on the blockchain-explorer: https://blockchain.info

I'll also ask on slack and let you know once I have reply. But it's possible that they would ask that you write to [email protected].

Hey @tempus

I just download the app, deposited some BTC, and tried to send BTC from private wallet to trading wallet, a message poped up saying "it failed", and now both balances (trading and private) are at 0, is it a known bug ?? It's very odd. Should I just wait ?? 

Lykke and Worldview International Foundation event in Bangkok

Lykke, a Swiss Fintech company building a global marketplace on the blockchain, and international NGO Worldview International Foundation (WIF) invite you to join a Blockchain & Natural Capital discussion. The talk, entitled Financing the Future of Sustainability, will take place on March 23, 2017, at Foreign Correspondents' Club of Thailand in Bangkok. (...)

https://www.lykke.com/company/news/lykke_and_worldview_international_foundation_event_in_bangkok

Anytime!

Thanks for your responses, most helpful.

To buy and trade you need to deposit to the Trading-Wallet and you can do that directly. If you want an additional security-layer after buying LKK you can transact them to the private wallet using the cold-wallet-feature.

Okay, but good that it is solved.

The 30 million is the number of the crowdsale of September/Octover 2016. In the most recent crowdsale 50,000,000 LKK1Y were sold - forward contracts for LKK. Investors have the choice to trade those tokens as contracts or to lock them up for 365 days and after that they will be swapped to LKK-shares. Since it's unlikely that all Investors pull the 365-day-trigger at once they will slowly reach the market.

The majority of LKK is in the hands of founders, team, angel-Investors and company and of course it's in their own interest not to hurt the market price (that would lower the value of the company). If Lykke should start to make profit soon it's likely that they won't sell that much more. If funds should be needed there may be another crowdfunding like the recent one. But in all possible scenarios it would be done carefully.

I don't believe that the majority of supply will ever reach the market. It will always be a decision between being funded to be able to develop fast (not just the technical side, but also for regulatory processes for example) and not to hurt overall value of the company.

if I want to buy some Lykke, should I deposit BTC directly in my 'Trading Wallet' OR deposit BTC to my 'Private Wallet' and then transfer to the 'Trading Wallet' on the mobile app ? or doesn't it make any difference ?

Nearly after 24 hours, my problem resolved.. It's been a hard process, tho.

I have a question about inflation for anyone who is knowledgeable about Lykke; there are 30 million tokens in circulation with a total of 1.285 billion tokens available, when and how will those additional tokens get released ?

Okay, good to hear that! Hopefully it will be solved quickly.

Thanks. They are currently working on my issue, at least this is what they told me.

I've asked on Slack and I'm sure you'll get a reply on your support-mail. It's a little bit complicated with US-customers during the regulatory process and as far as I know no new customers will be verified until it's done. What I don't know is how that affects those who are already verified. But, once I have reply I'll let you know and like said, you will get answer on your mail.

I can't buy bitcoin via my usd, or i can't deposit usd right now. And my credit card shows my transaction, but on lykke, i cant see any usd.

I sent an email to support, it's been one hour now, but noone replied me back. WTH is going on?

When it's about Bitcoin-transaction-times it's important to have an eye on the mempool: https://blockchain.info/de/charts/mempool-count?timespan=60days. I believe that the situation will calm down a little bit and that the price will stabilize, but the risk that there will be a hard-fork and a split has increased for sure.

Alternatives will come (ETH and over time all significant Alt's), but I don't have any details about time-estimations yet.

I have done some transactions with Bitcoin. It was fast the few times I tried it. I am talking within 10 minutes. I know bitcoin block chain had some sort of attack I believe a week ago and it slowed down transactions for a day or 2. But I haven't had any problems with the Lykke exchange. It runs pretty smoothly. They will be implementing ethereum btw.