Topic: [ANN] Lykke - Trade Bitcoin, Ethereum, FX and Digital Assets - page 72. (Read 144625 times)

Is 1-year Lykke contract offered on site  https://forward.lykke.com/ exactly the same as 1yLKK bought through LYKKE app?

Nobody forces you to buy! But what is sold now is a 1year-forward-contract. Those who buy now have the advantage to buy below the current marketprice but they can't sell into the LKK market for one year.

Tradeable are (will be) both. You can buy and sell LKK, and after this crowdfunding it will also be possible to trade 1YLKK until the 365-day-period is triggered and that's a free choice.


And please don't use the word "Scam". I have nothing against critique and I'm always open to discuss the hell out of each and any aspect and we can use this thread for some nice fights ;-) , but that word implies hidden and dishonest intention to make money on the back of misleaded Investors while not deliver on promise. And Lykke acts the other way around. They are totally transparent about the financial part, not only the past but also about how and for what they'll use the money in future. And when it's about the development:

https://github.com/LykkeCity --> won't be easy to find another project with such activity and quality on the development front. (Just by the way: They've pushed out an update for the App)

Goal will always be to ensure a win-win-Situation while building a great project and increasing it's value. And of course: Funding is needed until Lykke will make profit - that is in line with shareholders interest. That is true for all startups and in my opinion it's much smarter to do things carefully and step by step and over time in combination with showing real progress, instead of triggering a big hype only with a whitepaper and some nice screenshots to sell as much as possible at once but running out of money after 12 months.

Out of Investor-perspective a decision if to buy or not to buy or to sell if invested, should be based on the own conclusion if this project has potential - if the team will be able to deliver. And what I always suggest is to dig deep. Because the interesting part is: There are a lot of projects that may seem great on first sight while a lot of fascination gets lost once one takes a deeper look into it. With Lykke it's the other way around. My prediction is: For those who do deep research and begin to understand it, the more fascinating and promising it will become - and based on facts.

One also could do it this way: Take a look at the current quality and what they've already achieved. Then take a look at what they want to achieve in future and ask yourself what Lykke could become in months and years if they "just" continue to develop this on all fronts how it was done until now.
 

It's not the same offer, yes it has a 20% discount but you can't touch your shares for an year, I'm sure this is to avoid speculation, short term trading and dumping. I'm buying from the market at a "premium" price close to $0.05 instead of investing this way, plus I don't have the fiat available at the moment. This gives me the option to play the market since I think Lykke will have a very good 2017 and even if I'm seeing it as a long term investment there could be opportunities to take some profits.

So I've bought months ago during the ICO, now another ico for 20% discount? what's this scam? Why should I buy now lower than months ago with nothing tradable yet?

Yes, sure! The most detailed informations are here to find:

1) Information Brochure for Coinholders February 2017
https://forward.lykke.com/files/Lykke_Corp_Offering_Memorandum.pdf

2) About the 1yLKK-forward
https://forward.lykke.com/files/Fact_sheet_2017.pdf


Short overview in my words:

The total supply of Lykke Coins is: 1,285,690,000 LKK

100 Lykke Coins represent 1 share of the company: 12,856,900 shares

The majority of shares is held by the company, it's founders, angel Investors and the team.

Detailed Overview of Coinholders: https://www.coinprism.info/asset/AXkedGbAH1XGDpAypVzA5eyjegX4FaCnvM/owners

Sold during ICO in September-October 2016: 30,000,000 LKK - 300,000 shares.


The current crowdfunding is a 1-year-LKK-forward-contract and about 50,000,000 LKK - 500,000 shares.


That means in my own words: An Investor has the advantage to buy into the 1yLKK (for 0.04 CHF) below the LKK-market-price, but after activating the contract (pulling the 365-day-trigger) it would be locked for 1 year until he gets 1 LKK for each 1yLKK.

But: After the crowdfunding, an Investor is free to decide to trade the 1yLKK as a contract, or to pull the 365-day-trigger. It's also his choice to do that whenever he wants - if. The official explanation can be found in the linke above (2 - Fact Sheet).


For the available supply on the market that means: It first stays at 30,000,000 LKK but increases after 1 year - dependent on how much will be sold during this Crowdfunding and how many of the Investors will activate the 1yLKK and when they will decide to do that. It won't be all at once.  


Because of your question if more LKK will be issued: Sergey Ivliev said this on telegram in January:

"there is no plans to increase number of shares of Lykke Corp, hence no "inflation" for Lykke coins"

 
With other words: That doesn't mean that the company won't sell more shares in future. But it will be done carefully and the total amount won't increase.

Everytime I wish to sell some BTC because it's peaking I buy some LKK and accumulate since it's very stable in fiat, it's like a stable coin for now and I'm pretty sure it won't drop that further. When BTC dumps a lot most alts eventually rally but they never keep their fiat value, they only regain it after BTC recovers somehow, they only rally in terms of BTC. For example if BTC dumped hard right now, ETH would definitely rally in terms of BTC price but in fiat I'm sure it would be close to $10-11 rather than above $12 like it is now.

Lykke I think it's one of the few projects that it's decoupled from BTC price in a sense. I've seen some signs that ETH will do the same eventually.

@tempus

Can you post the LKK distribution in details?
I.e. how many LKK total (and if there will be new LKK issued) and who owns how many LKK.

follow thread about bounty..

There are even two new assets! The 1-year-forward-LKK is also in the App now (but only IOS until now) and can be purchased directly.
Press release to HCP should be released today.

Loops line there is a new trading asset in the wallet. What is HCP?

I'm not sure yet. I'll ask tomorrow and we'll see if something like that is planned.

I don't know much about it. But it seems to be a centralized exchange right? And one advantage of Lykke already is advanced security because of the more of decentralization.

Regarding margin trading: It will be available on Lykke soon. And much more to come.

I know, I say it quiet often but the truth needs to be repeated: Lykke will impress and surprise!

P.S.: In some months I'll quote my own predictions with a comment in german:
"Ich habs Euch doch gesagt!" ;-)

Yes, very good explanation about blockchain and what it makes possible!

I even believe that like nobody (or nearly nobody) could know in the early 90's how to Internet would develop, we can't predict now what the blockchain-technology will make possible in future and when it's about 10 years or 20 or even 50 years. But I really have no doubt that it will have huge impact and change a lot. That's also the Nr. 1 reason why I don't understand so called Bitcoin-maximalists. Bitcoin as a blockchain is great and Bitcoin as the "payment-Application" on the Blockchain is great as well. But of course there will be a lot of progress not only in Bitcoin. I believe the future will be about many blockchains and that it's good to have choice and that "connection + competition" is and will be very healthy.

This project have any bounty program?

I also discovered whaleclub. Anyone try that and how does that compare. You can short in whaleclub and has more leverage. Seems more advanced

you know I came to the understanding of the so call "ultimate goal" of a blockchain or trustless system is to de-commoditized trust... I know it's like fiction

but that my friend is what this whole experiment this industry is about

no more a need to trust X/institution/authority

I think this video might interest you

https://www.youtube.com/watch?v=ygZWhQXZtl4

so... yeah.. you know... why are we all here for?

the future right?

just saying

Right! And I believe that will come. And maybe it will even be Bitcoin. But of course, first it needs to scale. With higher adoption, more professional markets, more acceptance of businesses etc. it's also likely that the volatility would decrease. If Bitcoin shouldn't scale on the other hand, it's likely in my opinion, that there will be another currency that will take over. But I'm speaking of years not any time soon.

What also can be expected is that states will issue currencies on the blockchain. But that's nothing I personally would feel to good with since it's predictable that it would also be used to track money - and people. And most likely it would be like Fiat on the Blockchain --> centralized decisions about the money-supply.

Hopefully there will also be a really good untraceable currency as "Cash-represantation" then. Maybe Monero or Zcash or something even more advanced. But in that case it's predictable that the media will do it's best to talk about drugs and terrorism and money-laundering - like it was and is still done with Bitcoin.

Thanks a lot!

Maybe you are the one that should open eyes, Bitcoin is worldwide known and worldwide accepted. Is not worthless as a payment method at all, taxis, restaurants, etc are accepting bitcoin everyday and the list is growing, doesn't seems like a worthless method for them, as they exchange to fiat right away, they don't have to worry about bitcoin volatility unless they want to hold btc. Now in case you want to exchange 1000's of dollars to btc and send it to your exchange, just make sure you are doing that when bitcoin is not downtrending, 90% of the time since 2015-08 is in a uptrend. I know that the avarage user is not checking charts like i do, oh wait yes they do! lykke is a trading platform right? they are traders, they should be checking charts. I've done it before, i've exchange 1000's of dollars to bitcoin and back to fiat, just so i can move it from one place to another, it takes 20 minutes to do that, now if in those minutes bitcoins drops, then that's really bad luck. But if anyone knows what is doing that shouldn't happen. And that deserves a QFT.

If a stable and decentralized (at least partially) ctyptocurrency appears with a good market cap and liquidity it can be a huge incentive for a wider crypto currencies adoption and use in the traditional economy.