Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 279. (Read 1103311 times)

Thank you for your answers Ryan I disagree with your first point but I understand your position.

Since now we have a block explorer can we have the address where the unsold Blocks are kept till the end of the refund period?

with your second point I understand that the bought Blokcs at higher prices are not part of the ITO does this imply that if they sell back into the refund wall those will not be taken into consideration as "refunds"?

Thank you.

Perhaps you missed my reply Itod.

Don't post this point again without responding to it.

When the buy wall runs out, there will be no more BLOCK left on Bittrex to sell. So there will be zero liquidity, therefore zero drop in price.

Agree completely. Risks is about managing expectations.

Why is BTER trading still disabled?

You are a true supporter. I respect that. For those who are not willing to wait 2-3 years, or some other point in time when eventual and not even yet started development is finished, the next day is your last chance to see your BTC back at price even close to what you've payed for BLOCK. Trading is now enabled, and even with desperate giant supporting buy wall the price is nailed to the lowest possible. The minute the supporting wall is removed the price will inevitable collapse, even if the ITO reaches 850 BTC. I don't want to think about the mess which will happen if the 850 BTC figure is not reached. Take all this in consideration when you think what will you do until the end of the "refund" process, after that it may be too late.

Thanks for information

If they sell their BLOCK they purchased at Bittrex back into the wall at Bittrex they are perfectly welcome to take their BTC and go buy block somewhere else if thats what they choose to do.  It is their BTC they can invest how they wish.  There are no arbitrage opportunities as BLOCK cannot be withdrawn or deposited from Bittrex.

We maintain an account for the ICO that has the coins that were being sold and the BTC from those sales for our BUY/SELL walls only.  It is all tracked through there, volume created by people buying above ICO price does not count towards the ICOs total sales.

The statements above only stand for the 48 hour buy back period.

Thank you,

Ryan @ Bittrex

BUMP

http://www.webcountdown.net/?a=zqXsrez

To address some of the valid questions LeeWilson asked (yes it's not all trolling):

- The only exchange that we were able to hand coins over to was Bittrex. The other exchanges required that we put up a sell wall ourselves.

- Correspondingly, on Bittrex, we have no access to funds unless they determine that the ITO is a success, in which case they'll send them to our escrow address.

- On the other exchanges, funds were required to be in our control all the time, and some were withdrawn to improve their security.

- At the start of the ITO our escrow service was not in place (as announced). As such we were not in a position to keep coins in it.


Anyone who becomes worried at who's in control of the funds has no more reason to be concerned than at any point in the Blocknet's ITO, since nothing's changed.

If you recall correctly, we stated that we may move coins around and vary the quantities allocated to different pairings and different exchanges. This is what we have done with the Poloniex sell wall and the extra coins sold on CoinGateway.

Thus we have not changed our rules.

Lastly, I disagree with the opinion that changing rules is necessarily a bad idea. After all, unforeseen circumstances may necessitate a rule change, and not changing a rule could be very wrong.

Man, your question is pointless.
Guess?  in what time frame?  First  minute? First 5 min? 1h? 1 day? 1 week? 1 Month? Longer?

What i know is - I do NOT CARE.
I will not part even with 1 single block, even if it goes down to 100 or 10 satoshi ( which i know will not)

The short time price does not matter.( and by short time i call up to 1 year)
 What i know is - i keep these tokens for 2-3 year at least.
And I dont have even smallest doubt - i gain some profits.
If fact - a HUGE profits, in medium to long run.
I said  now all.

So much drama here!  

The world would be so much better if people would take responsibility for their decisions and actions instead of blaming others.

Dear Blocknet Team!

I'm addressing that to you as well. Why can't you stand out before the community and admit that this whole ITO was fucked up, and you are partially responsible for that even if you could not possibly foresee all the screw-ups and attacks against you?
Most importantly why don't you step up and stand behind your project? If you really believe in Blocknet and that you are capable to implement it, why is it so hard to say that "Guys, we believe in this and will implement it!"

Don't be the team that says "We have this great idea that can change the crypto landscape and have the talented programmers as well to implement it - but you know what? we won't do that." Your current stance is actually quite disturbing, as you basically say: "Well we might go on with the project... it really depends on what the guys at Bittrex are doing."

You see the support of the community - well at least part of it. People invested in your idea. No matter how the Bittrex refund ends, I cannot imagine that the collected funds will be less than 750 BTC. (500+ sold on Coingateway, 50+ on Polo, 100+ on Bter and not everybody will refund on Bittrex)
Standing out for your project could win back some respect. If you cancel the project at this stage you will loose the respect of even more people.
Which one looks better: "Blocknet team stands behind their idea and starts implementation." or "Blocknet implementation cancelled because only 92% of funds raised."?
If I would want to go even further I could say, that the original ITO rules stated that if at least 850 BTC will be raised by the end of the ITO period (i.e. Nov 5th) the project will be started. More than 1000 BTC had been raised by the end of the ITO period. What are you talking about now possible cancellation of the project and refunds?

Take responsibility for what you say and do, please!
If you really consider cancelling the project and issuing refunds:
If you had not enough control on the exchanges to enforce the rules of the ITO I'm sure you will not have enough control to enforce the refund rules, either. And who will lose on the whole thing? Those who believed in you and supported the project. Not to mention that lots of people will not be able to get a refund from coingateway, because they sent their coins from an exchange. So you sell the remaining alts at ITO price? - how do you please do that if there is not enough liquidity and lots of coins are currently trading for less anyway? No matter how fair you try to be, some people will be left with some Blocks, that will be worthless if the project does not start. Again you screw your supporters.

I don't want to discredit your efforts on trying to defend yourself and the project against the attacks, I respect your efforts. But if you fight for the project on one front then don't let the possibility open to drop the whole thing.

All the above I wrote in the belief that you are honest about your plans with Blocknet and don't want to screw people. I still did not lose my trust in you and holding on to my Blocknet investment as well.
If the whole thing is a scam, then of course you can ignore all that I wrote. And in that case all my respect to you, it has been a really clever one.

exciting stuff! We need a countdown timer!

other was fake volumen

We were at about 1100 btc before the buy wall appeard, now with 90 btc sold we are at about 1010 btc

so, do we know roughly where we are with regards to the amount of BTC raised so far?

Why is that trolling? You haven't even tried to answer the question, so it's obvious who is trolling. This isn't even a refund, this is desperate attempt to support the price before the actual refund is in progress when the final accounting is done. I'm just trying to protect those naive souls to think for themselves, don't let the others misguide you.

I don't need to guess.

There will be no more BLOCK left on Bittrex to sell. So there will be zero liquidity.

Dude your posts are all the same add a bit of variety in your trolling please ..im getting bored

Ask yourself what will happen to the BLOCK price when that refund buy wall on Bittrex, which supports the price, is removed? You only get to guess once...