Topic: [ANN] xxxxx - page 85. (Read 175982 times)

Does poloniex, Kraken, and other big exchanges have secret unnamed officers/devs (leadership with access to private keys?) and no safetey/security protocols other than not publicly naming the leadership with access?  Like thieves couldn't easily figure that out? "Hmm, who's there that isn't publicly listed..."

You say poloniex owners are not known.  Are the owners the ONLY ones with access to funds?  Really?  (also, they look to be having solvency problems, so yeah, it's good to be unknown'.)

Or, is what you're telling us is that WCX, that wants to do daily volume of $1B and more, has no security/saftey system in place and just hopes that those few unnamed guys lurking around the office (that everybody that works there knows) don't get mugged (or have heart attacks) at which point WCX loses billions of dollars worth of coins?

That's a terrible, terrible system if that's what you're arguing for.

Already answered this in previous posts.

pros = no security risk, anonymous private key holders mean your funds won't be targeted by potential kidnappings, threats against private key holders, etc.

How exactly does revealing identities help you in any way.

How did that help all the people who had money on Mt Gox? All the owners were known and the exchange went under and bankrupt and people lost money.

How did that help Bitfinex when they got hacked for $200M? Again all the owners were known.

There's not much upside to revealing who holds the private keys, it's mostly all downside. This is understandable from security perspective (I work in bank IT security). I think it's very smart decision to keep it hidden if they decide to do so.

Sure let them reveal some team members but don't make public known to everyone who holds the private keys, that would be fucking stupid. Look at poloniex they are largest crypto exchange by volume and owners are not known!! And not one single security breach. It's a smart choice.

Second, as you trade on ANY exchange, don't keep funds there all the time, this is just common sense. It's not a wallet. you deposit, you trade, you withdraw. very low risk in this case and knowing private key holders makes very little difference.

Third, WCX is compliant according to whitepaper. That is easily verifiable when they launch and which countries they serve. That means due diligence, etc. has been made by many parties, perhaps even governments, vendors, etc. and owners were revealed to them. They are just not publicizing - again, smart decision I think.


Doesn't have to be in pocket, can be anywhere as long as location is known and that would make it a real risk. Also they will need access to cold storage from time to time to refill hot wallets I presume like every other exchange. So it's not gonna be in a mountain vault somewhere. Cryptocurrency is like a stash of cash.

Where are they holding those priv keys? In their pockets? And someone will track and rob them? Lets be real please...

I just hope the devs will disclose the team before ICO starts like they promised.

Please enlighten us about these pros and cons you speak of. I love anonymous people in an unknown location handling my money.

Please contact [email protected] for assistance.

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Thank you all for your continued support! Here are some updates:

→ The whitepaper will soon be available in 12 languages, including Russian. They are set to be published on the site within the next day or so. If you want to help translate it into your language, you can join our translation project here.

→ Spots for Pre-ICO bulk buying (15% discount) of WCX Tokens are flying fast. Almost $2.5M already committed! If you still haven't reserved and are planning to buy 250,000 WCXT or more, you can do so here.

→ Spots for the WCX Beta Program are also flying fast. Available spots for English are 90% full, Russian 75% full, and Vietnamese 70% full. You can apply to join the Beta Program here to get early access to WCX.

Read above I already answered. In exchange like WCX team members hold private key, so there is security risk in revealing ID. In Tezos ICO etc there is no risk for team members.

Seriously, although I'm supporting this project and believe it can succeed, I don't get this "risk of revealing names" thing. Check all the latest BIG ICOs like Tezos, Bancor, Civic etc. that raised millions of dollars. All have their teams with names, Linked (or facebook) links showed on their webs. Who is at risk of what here?

I support! Looking forward to more information from the developers!
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They said they're going to announce the team this week, let's chill a bit everybody. They wouldn't advertise Apple & Wall St in the title just to announce that they won't be telling us who the team members are. Everything they said has happened so far, I'm not worried.

Disagree. Revealing IDs puts funds at risk. There are it seems more cons to revealing them than pros. Although I don't know if and when they will reveal them, it may be more cautious not to.

I think whitepaper and site are very well developed. Simple and they achieve what they need. The most important number is the number of signups which is 185,000 which proves what they're doing is working very well. Whitepaper is simple and to the point IMO and can be understood by everyone. No need for fluff where it doesnt need to be there.

If your developing an exchange it's of paramount importance that you identify your self and team with pictures and full names. Website looks thrown up pretty quickly and the white paper is mostly graphs. I hope the finished project has more care in it's development.

Bro you wanna rob Apple CEO how do you do it lol. You wanna rob coinbase CEO you put a gun to his head take the private keys and the BTC are yours forever. Welcome to crypto you sound new.



Isn't that what every ICO has done so far. Make promises in a whitepaper? Many ICOs have had hidden caps, for good reason, so nothing new here. At least WCX will have something to show before the ICO. I guess that will make you able to judge whether people behind it are "pros" or not  . It's still early days, ICO is in 2 months.

Is there no reference system anymore? I had been told that it existed but I no longer find it

Don't accuse me of FUD, this isn't chaincoin where the pumpers abuse anybody that raises questions.

"do not fud without proof" says the guy that's operating with faith in the face of zero proof (no named dev team or officers, 'hidden cap' on coin amounts, etc, etc).  Basic info that should be known before any investment.

Are you saying that you bought $25k worth of tokens just on faith and the unproveable claims of the whitepaper?

I'm asking questions in the face of a potential investment.

If you believe every unsubstantiated promise in a whitepaper, good luck to you.

Right, and CEO's and other public officers of massive corps don't have direct access to vast swaths of the company monies?    Are you new to the entire world of business?

WCX could just not say who holds the keys, in your argument.   

Is it the CEO that holds them?   You're not going to name the CEO?  Because he holds the keys?  Really?  And just hope people believe you that the CEO is a worthwhile experienced pro that you can trust to lead the show?


RE:  price increase.   Volume has to increase A LOT to increase the stated payouts (the amounts of which are as of right now are just guesses blind guesses), and one has to have A LOT of tokens to get more payout.   And if the price is to go to $1, or $10, the payouts just aren't enough to justify spending, for instance, $20,000 to get $60 a month back in payouts IF volume gets to $1B.

Maybe it will trade up just on speculation on the price of the token itself, separate from actual value, like most coins in crypto right now.  We'll see.

Are you new to bitcoin? It makes total sense to withhold some names, especially names of people who have access to private keys. In BTC/crypto is like having access to cash, so you can be target for kidnapping, theft, etc. That means revealing these IDs puts the WCX client funds at risk and also the safety of their staff. Many now in crypto who have revealed their identity are living with bodyguards 24/7 (coinbase, bitstamp CEOs, etc.) A billion dollar traditional CEO doesn't have to worry about that, their cash, company cash, etc. is held in bank. That being said they said they will reveal some name people, hopefully some with no access to private keys.

And concerning WCXT value seems very simple to me, it will go up when more volume on exchange, and down with less, because its fully correlated it pays out by based on volume, 20% of fee which is directly correlated to amount of volume on exchange.

And what ICO raise will be used for, its in whitepaper, read before making useless FUD!! Many of us now holding WCX token, buying pre-ICO etc. do not FUD without proof, you are making us a disservice. Here:

Funds raised at the ICO will be used for customer acquisition, research and development, and hiring the best and brightest in software development, security, marketing, compliance, and customer support.

You are right, I corrected my numbers in the previous post. Sorry for my mistake, I had by first coffee by now...

Russian whitepaper is already done last night

1.  Your math is wrong.   $250 million = 250millionx10 tokens (because $1=10 tokens).

2.  But let's go with it.  In general that math logic only works if the 8% and 5%  (really just the 8%)is based off the amount sold.  But It's not, it's (I'm 99% sure) based of the 'hidden cap', which could be 100 billion coins, or 10 billion, or 200 million, or...

Let's say the hidden cap is 10billion.  8% of that is 800 million.   Then if they sell 25 million tokens and burn the rest, that leaves 25mil in the hands of investors and 800 million in the hands of the team and advisors.

(In any case, how are they calculating the income per # of tokens per volume level?  I don't see how it can be at all accurate.)

Here is my best guess on the maximum number of tokens to be issued:

Assuming that they conduct the biggest campaign ever to raise money, that would give around $250 million, which leads to 2 500 000 000 tokens pre-ICO and ICO for 87% of the total tokens. Adding to that the missing 13%, that would give a maximum of 2 873 500 000 tokens.

If the project works, the token will raise because the profit made from each token will also raise. It can be compared to the price/earning ratio used everyday in the stock market.