Topic: [ANN] WiC | Rent Your WiFi | New Thread Announced - page 19. (Read 52988 times)

great to see wic get so much attention in just a few days....

Great, thanks

nice 1 thx for the reply, puts my  mind at rest a little, after seeing an associate from bitcoin garden i freaked lol

Hey, as you see our escrow team is very well reputed and has handled a lot of ICO escrows including the Ark ICO. Also, both the escrows, Blazed - Bitrated and minerjones - Bitrated will be posting signed messages so you can be sure its them posting it and the accounts are not compromised.

Also, in order to increase security, we have kept a single escrow address that will be posted here (not on any other site) and held in a 2 of 3 multi sig wallet.

Thanks!

only if they didnt sell their accounts to another?, there's no security in this,...as weve seen on a number of failed projects here, a full bio with proof of ownership of each account would alleviate the headache

Some new blogs/articles and video review for WiC

http://btcupload.com/video/wi-coin-wic-the-killer-app-of-the-crypto-world
https://steemit.com/crypto/@btcupload/wi-coin-wic-the-killer-app-of-the-crypto-world-participate-in-the-ico

Hey, don't worry about asking questions. Its your right even if you do not intend to invest.

Why do you think 0.3 BTC for an article/blog/video is completely crazy? Keep in mind these are also a source of advertisement and a lot of users read these. Also, the owners have spent years creating a following for their blogs or other websites and 0.3 BTC (MAXIMUM) is something I feel they deserve.

If the ICO runs well, it will be most beneficial to the investors. Let me explain:

1) Since, all ICO coins are proportionately divided among investors, you can be sure that we are not overcharging you and what you pay is the real true value of WiC decided independently by market forces.

2) Now if we reach the max cap of 750 BTC that means that more people wanted to buy WiC but we stopped and did not accept more investments. This in turn mean that the investors that got accepted now have WiC at a cheaper rate than the true value (because more investment would increase WiC value). That's a big advantage to investors.

Hence, in both scenarios investors either get WiC at the true value (less than 750 BTC investment) or at a better than true value (investment caps at 750 BTC)

Also, this is not a private blockchain. You will be able to use WiC to trade and exchange like any other crypto currency, the addition being in app rewards - which is not open source but the WiC coin movement can be tracked on the blockchain, Also, only the initial distribution (100 WiC per password) is where we play a part and after that users will be renting the WiFi directly from uploaders.

There is no limit on the number of connections that will be uploaded. You have misunderstood the 100,000 passwords number that you see in the OP. That is the WiC initial reward allocation / WiC reward per password which is 100,000,000 / 100 = 100,000 passwords.

You might also be interested in knowing that we are having a lucky draw for investors as well. All details at: https://bitcointalksearch.org/topic/m.18667097

Thanks for taking interest!

Thank you for your answer (and fast on top of it, that's cool ).


That's completely crazy... if the ICO runs too well, investors are really going to lose money...



Why using the blockchain if this is not an open source project ? You can do this in a centralized manner in an ever better way. I really like you project. I do. But investors will flee when they will discover this.

So how do we interact with the blockchain if only the mobile application has access to it? (we can't). This is a private blockchain...


Last question, why is there a limit of 100 000 access points declarations ? It would be logic that it would be unlimited, since there's billions of them in the world.



@kashish948, I'm here since 2012. It's just that I do not post often. You're the only newb here. And I'm not fudding, I'm adressing legitimates questions prior to an investment.

WiC ICO begins in less than 2 days! #DontMissOut https://www.tickcounter.com/countdown/112308/wic-ico-launch

lol newbie account trying to spread fud  

Hey shideneyu,

There is a max BTC cap for the ICO at 750 BTC which makes each WiC worth 0.00003 BTC (750/25,000,000) so the max each WiC is worth is $0.036 (0.0003 * 1200).

That makes the article bounty = 0.3 BTC (0.0003 * 10,000)

Each password will be 100 WiC which is (if the ICO sells out) = 0.003 BTC or $3.50 approximately.

Note this is assuming that the ICO sells out. If it doesn't, the numbers are even lower.

I don't know how you got the numbers you got but they are not even close to the real numbers. Don't worry we have given it a good thought!

Also, the app is not open source and you will have to honestly trust us that we won't be uploading the passwords ourselves. It would actually be very irrational and unprofitable for us to do that since the app could generate much more revenue.

There are some big issues. Too many coins to mine, ICO is flawed completely.

Let's say the total investment of that ICO is 2000 BTC, because that's really a beautiful project and this is possible.

That means that for each BTC invested, each investor gets 12500 WICS (25000000/2000).

That means that theoritically, each WIC is worth 0.096 Dollars (1200/12500).

Each password makes people earn 100 WIC. So 9.6 Dollars. What the hell ? And that Mining issue of yours !!! 75% of total supply remains, so every investors will lose money.


And  10000 WiC for an article for the bounty ??! That means 960 dollars !

SOOOOOOOOOOOOOO.

If the ICO raises 200 BTC this time: 10 000 wic will this time be worth 96 dollars.
If the ICO raises 20 BTC. This means 9.6 dollars per article, it's more fair like this.


This is so gross... I must have made mistakes with my calculations ?? How can we be sure ICO investors won't lose money due to this awkward mecanism ? If you raise more than 50 BTC, every investors will be sure to lose money. You have to make us trust that we can invest on it. It's important.


And in a technical matter this time:


Who checks, and who bans ? Can we interact with the blockchain for validating an access point without using your mobile application ? -> So... Is the application open source ? If not, how can we be sure that you don't bypass the system by registering passwords yourself ?

I know you don't have a white paper but you have to address those legitimate fears please.

Hey thanks for the support! We understand extensive marketing is required for this app to be popular among everyone and not just with those that understand crypto currencies. You will be happy to know that an online ad campaign, on a trial basis, will be started from tomorrow. As for the coin allocation, we gave it a careful thought and decided that 25% coins for fundraising should be good enough for our marketing and development needs. The 3000 BTC market cap is minuscule in comparison to the potential of this app and we expect the price to rise much more than the ICO price after launch.

Hey LoyceV, very good point there. I would like to let you know that there will be anti-bot mechanisms in the app and the awarded WiC will not be withdrawable immediately. The network will need to remain unchanged for a certain number of days before the user can withdraw any WiC. We can manually check if there has been any botting or any other mischief and ban that user. You might be aware of Pokemon Go bots which were rampant just after the launch. But they soon updated their app and made it impossible to bot by checking for basically "human like behavior". Also yes, a user ONLY pays for a successful connection and never for a wrong password.

This got me curious. I started Googling and found How to Hack Wi-Fi:
That's will prevent fake entries after the initial giveaway ends.

Hey, thanks for taking interest. Each Wi-Fi network has a unique identifier and it can be checked that the users do not upload duplicate networks. This way only unique networks are uploaded and rewarded. Also, only the first person who uploads a specific Wi-Fi password gets the reward. For example, if John uploads his home Wi-Fi network and after a few days changes the password and tries to again upload it, he will only be rewarded the first time.

Another important thing to know is that if someone wants to connect to a wifi, he/she pays ONLY if the connection is successful and the password is correct. Wrong/changed passwords don't get paid.

You're giving an incentive to upload Wifi-passwords. How are you going to stop people from uploading fake Wifi passwords?
It's easy to change the name of the Wifi-network, store it in a phone, and do it again. If early adopters pollute the database with fake data, it loses its value.

Hey, the amount of WiC you receive depends on the total investment. As mentioned in the OP, the price per WiC will be decided by the market forces. There is no fixed price and it will be decided by the formula: Total Investment / Number of ICO coins (25,000,000)

So if there is less total investment you get more WiC. Since we have a max cap of 750 BTC, the MINIMUM WiC you will get for 1 BTC is 33,333.33 WiC. We also have some bonuses for early investors and if you invest on the first day you get 30% more.


1) Day 1 (6 pm EST) – April 22, 2017 – 30% Bonus
2) April 23 (6:01 pm EST) – April 30, 2017 – 25% Bonus
3) May 1 (6:01 pm EST) – May 8, 2017 – 15% Bonus
4) May 9 (6:01 pm EST) – May 16, 2017 – 10% Bonus
5) May 17 (6:01 pm EST) – May 24, 2017 (Final Week) – No Bonus
 

Also, we have announced a lucky draw for those investing more than 5 BTC. Full details here: https://bitcointalksearch.org/topic/m.18667097

Hey, let me explain the details:

1) Yes you can make posts under any board. Only requirement is that these posts should not be spam or deleted by a moderator.

2) The ICO launches on April 22, 2017 and ends after about a month on May 24, 2017. WiC launches next day on May 25, 2017 and the bounty will be distributed from then within a 2-3 days.

3) You get shares on a weekly basis, so if you want to discontinue after a week you have the choice. 1 week counted from your registration date.

Let me know if you have further questions.

and 3000 btc market cap will not even be in the top 100 market caps and 90℅ of those coins are shit with no innovation.....This is way better and even the 3000 btc cap doesn't seem much to be honest...... but who knows... will have to wait n watch, definitely investing though, this could be huge