Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 365. (Read 1103311 times)

Quote from: myxamop on October 30, 2014, 05:44:37 AM

Quote from: Specialkey on October 30, 2014, 05:38:56 AM

Quote from: synechist on October 30, 2014, 07:11:16 AM

Uhm, you cannot make a withdrawal of your Blocknet Tokens from Bittrex? Or is it just me?

me too.

I think it has to do with the 800 BTC they will claim. If not you get refunded.
Pretty cool idea.

Bittrex's Statement for the ITO

Bittrex will be hosting the BlockNET ICO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ICO; no other conditions are required.
* We will review the wallet before initially adding it.
* Bittrex will host 3,400,000.00 of 10,000,000 total coins at a price of 0.00025 the ICO will value 2500 BTC across all exchanges.
* The ICO will run for 7 days beginning October 29, 2014 at 5am PDT and ending on November 5th 23:59:59 PDT
* The ICO must raise 850 BTC total across all exchanges to be considered a success.
* If success conditions are NOT met, all BTC invested will be refunded through a buy wall.
* Once the ICO is over we will verify there is working wallet, blockchain, and block explorer.
* ICO payment will be in a lump sum to BlockNet within 7 days after the ICO ends.
* No trading of the coin will be allowed until the ICO ends and escrow is released.
* ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ICO, you are agreeing to the above terms.

I have read this statement. Where exactly does it say that you cannot withdraw your coins from the exchange?

Somebody has an answer to this that actually helps? While others can already stake their Blocks, i cannot withdraw from Bittrex. Is Bittrex staking for themselve?

It is not mentioned anywhere that Trex was to keep the coin and staking as I didn't see it mentioned anywhere, that ONLY 20% of the block will be sold for 10% discount using the participant coins, and also nobody mentioned that to each participant coin will be allocated a part of the block depending on the market cap of each coin.
So this is just BS preparation for launch.
People had to dump their participant coins because they found themselves with a lot of coins not being able to buy shit from coingate.
Or they bought coins in order to get the 10% discount and then they had to sell them at lower prices. Just crap.

that s fked up, i bought these tokens and i want them in my wallet to stake. synechist?

Bittrex should pay the earnings from their stakes to their users imho.

cryptodruti

full member

Activity: 182

Merit: 100

Quote from: Spoetnik on October 30, 2014, 07:03:58 AM

Quote from: synechist on October 30, 2014, 06:58:16 AM

Quote from: BallOOner on October 30, 2014, 06:37:06 AM

the only thing I don't get is why dev needs so much money? 1 million bucks, thats pretty greedy to my taste. And I'm not sure if the market will be able to support the 25k sat price at a 10,000,000 coin money supply

2500 BTC is a limit, not a required maximum.

It's there so that people don't buy *more* than this amount; hence it's to prevent pumps.

If we raise less, then the remaining BLOCK will be destroyed, and the project will move ahead.

So really the situation is:
- we don't *need* 2500 BTC, we need a minimum of 850 BTC as stated in the OP.
- but 2500 BTC will maximise the chances of success of the project
- it's entirely up to public demand to determine how much funding we get.

Then why not just lower the amount to 850 then ?

Because less risk is better than more risk.

Quote from: strunzdumm on October 30, 2014, 07:00:00 AM

Quote from: synechist on October 30, 2014, 06:58:16 AM

- but 2500 BTC will maximise the chances of success of the project

There is a chance the projekt can fail?

Of course. There are competitors, there are incoming regulations, software development can get delayed or get expensive... the list goes one.

Hence the need to minimise risk. The more funds we get, the better the chance of success.

The whole idea is interesting, but the truth is you guys don't need 2500btc... The idea has potential for a higher price then 25k sat but is it worth that right now? No. The price will inevitably go down bellow ico price and the only way it wouldn't would be if massive buy walls are put in place by a whale. Which isn't going to happen because they too know the price is over valued for just a concept. If you asked for less btc at a lower price for the idea, the value would have space to grow naturally, the price will almost certainly get dumped which simply isn't healthy for it. The difference with that structure is that you guys wouldn't get to walk away with close to a million dollars if the project fails.

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: sfc on October 30, 2014, 07:22:34 AM

Quote from: moonchaser on October 30, 2014, 07:20:47 AM

Quote from: myxamop on October 30, 2014, 05:44:37 AM

Quote from: Specialkey on October 30, 2014, 05:38:56 AM

Quote from: moonchaser on October 30, 2014, 07:20:47 AM

Uhm, you cannot make a withdrawal of your Blocknet Tokens from Bittrex? Or is it just me?

me too.

I think it has to do with the 800 BTC they will claim. If not you get refunded.
Pretty cool idea.

Bittrex's Statement for the ITO

Bittrex will be hosting the BlockNET ICO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ICO; no other conditions are required.
* We will review the wallet before initially adding it.
* Bittrex will host 3,400,000.00 of 10,000,000 total coins at a price of 0.00025 the ICO will value 2500 BTC across all exchanges.
* The ICO will run for 7 days beginning October 29, 2014 at 5am PDT and ending on November 5th 23:59:59 PDT
* The ICO must raise 850 BTC total across all exchanges to be considered a success.
* If success conditions are NOT met, all BTC invested will be refunded through a buy wall.
* Once the ICO is over we will verify there is working wallet, blockchain, and block explorer.
* ICO payment will be in a lump sum to BlockNet within 7 days after the ICO ends.
* No trading of the coin will be allowed until the ICO ends and escrow is released.
* ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ICO, you are agreeing to the above terms.

I have read this statement. Where exactly does it say that you cannot withdraw your coins from the exchange?

Somebody has an answer to this that actually helps? While others can already stake their Blocks, i cannot withdraw from Bittrex. Is Bittrex staking for themselve?

It is not mentioned anywhere that Trex was to keep the coin and staking as I didn't see it mentioned anywhere, that ONLY 20% of the block will be sold for 10% discount using the participant coins, and also nobody mentioned that to each participant coin will be allocated a part of the block depending on the market cap of each coin.
So this is just BS preparation for launch.
People had to dump their participant coins because they found themselves with a lot of coins not being able to buy shit from coingate.
Or they bought coins in order to get the 10% discount and then they had to sell them at lower prices. Just crap.

that s fked up, i bought these tokens and i want them in my wallet to stake. synechist?

Moonchaser, read the OP FAQ and also the ITO document (which is also in the OP). The info is all there.

Sfc, if you bought on Bittrex you'll need to wait until the end of the ITO (max. one week) before you can withdraw and stake. At 3% per year, this won't amount to much.

jefams

newbie

Activity: 20

Merit: 0

Strange, the volume of blocknet yesterday pm 2200 on bittrex was almost 200 btc.
Now the volume dropped to 129 btc.

It should stay at 200 btc or only gaining right? Because no one can withdraw the tokens!
Or bittrex member can do that?

Can someone explain, because I bough at bittrex?

sfc

member

Activity: 134

Merit: 10

Quote from: myxamop on October 30, 2014, 05:44:37 AM

Quote from: Specialkey on October 30, 2014, 05:38:56 AM

Uhm, you cannot make a withdrawal of your Blocknet Tokens from Bittrex? Or is it just me?

me too.

I think it has to do with the 800 BTC they will claim. If not you get refunded.
Pretty cool idea.

Bittrex's Statement for the ITO

Bittrex will be hosting the BlockNET ICO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ICO; no other conditions are required.
* We will review the wallet before initially adding it.
* Bittrex will host 3,400,000.00 of 10,000,000 total coins at a price of 0.00025 the ICO will value 2500 BTC across all exchanges.
* The ICO will run for 7 days beginning October 29, 2014 at 5am PDT and ending on November 5th 23:59:59 PDT
* The ICO must raise 850 BTC total across all exchanges to be considered a success.
* If success conditions are NOT met, all BTC invested will be refunded through a buy wall.
* Once the ICO is over we will verify there is working wallet, blockchain, and block explorer.
* ICO payment will be in a lump sum to BlockNet within 7 days after the ICO ends.
* No trading of the coin will be allowed until the ICO ends and escrow is released.
* ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ICO, you are agreeing to the above terms.

I have read this statement. Where exactly does it say that you cannot withdraw your coins from the exchange?

Somebody has an answer to this that actually helps? While others can already stake their Blocks, i cannot withdraw from Bittrex. Is Bittrex staking for themselve?

It is not mentioned anywhere that Trex was to keep the coin and staking as I didn't see it mentioned anywhere, that ONLY 20% of the block will be sold for 10% discount using the participant coins, and also nobody mentioned that to each participant coin will be allocated a part of the block depending on the market cap of each coin.
So this is just BS preparation for launch.
People had to dump their participant coins because they found themselves with a lot of coins not being able to buy shit from coingate.
Or they bought coins in order to get the 10% discount and then they had to sell them at lower prices. Just crap.

that s fked up, i bought these tokens and i want them in my wallet to stake. synechist?

moonchaser

sr. member

Activity: 442

Merit: 250

Quote from: myxamop on October 30, 2014, 05:44:37 AM

Quote from: Specialkey on October 30, 2014, 05:38:56 AM

Quote from: mav137 on October 30, 2014, 07:13:43 AM

Uhm, you cannot make a withdrawal of your Blocknet Tokens from Bittrex? Or is it just me?

me too.

I think it has to do with the 800 BTC they will claim. If not you get refunded.
Pretty cool idea.

Bittrex's Statement for the ITO

Bittrex will be hosting the BlockNET ICO. As a reminder, we are providing escrow for the development team. We are not endorsing this coin or any others on our exchange. Please do your own research before trading. Below are the FULL and DEFINITIVE terms for this ICO; no other conditions are required.
* We will review the wallet before initially adding it.
* Bittrex will host 3,400,000.00 of 10,000,000 total coins at a price of 0.00025 the ICO will value 2500 BTC across all exchanges.
* The ICO will run for 7 days beginning October 29, 2014 at 5am PDT and ending on November 5th 23:59:59 PDT
* The ICO must raise 850 BTC total across all exchanges to be considered a success.
* If success conditions are NOT met, all BTC invested will be refunded through a buy wall.
* Once the ICO is over we will verify there is working wallet, blockchain, and block explorer.
* ICO payment will be in a lump sum to BlockNet within 7 days after the ICO ends.
* No trading of the coin will be allowed until the ICO ends and escrow is released.
* ALL SALES ARE FINAL AND THERE WILL BE NO REFUNDS - by participating in this ICO, you are agreeing to the above terms.

I have read this statement. Where exactly does it say that you cannot withdraw your coins from the exchange?

Somebody has an answer to this that actually helps? While others can already stake their Blocks, i cannot withdraw from Bittrex. Is Bittrex staking for themselve?

It is not mentioned anywhere that Trex was to keep the coin and staking as I didn't see it mentioned anywhere, that ONLY 20% of the block will be sold for 10% discount using the participant coins, and also nobody mentioned that to each participant coin will be allocated a part of the block depending on the market cap of each coin.
So this is just BS preparation for launch.
People had to dump their participant coins because they found themselves with a lot of coins not being able to buy shit from coingate.
Or they bought coins in order to get the 10% discount and then they had to sell them at lower prices. Just crap.

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Staking is necessary to secure the network. If we would't stake, you'd be bitching about how unsecure this POS coin is.
It's a compromise to sell the tokens and generate some money to further develop the technology. If you don't believe or rather invest when the product is ready.. just buy in Q2 2015. Risk is the name of the game pal

The POS interest will be canceled by in some form when the BLOCKS are being exchanged for NHZ assets.
I think that the smartest way to do this, is to make sure that everyone stakes (most secure) and that the moment of exchanging for NHZ assets will caclulate the total amount of BLOCKS available and set a conversion rate based on that.

Let's see what the team has in mind about this

Dan has told me that we will destroy an amount of BLOCK equivalent to however much is staked.

This will most likely be when BLOCK is redeemed for NHZ assets.

mav137

full member

Activity: 163

Merit: 100

Staking is necessary to secure the network. If we would't stake, you'd be bitching about how unsecure this POS coin is.
It's a compromise to sell the tokens and generate some money to further develop the technology. If you don't believe or rather invest when the product is ready.. just buy in Q2 2015. Risk is the name of the game pal

The POS interest will be canceled by in some form when the BLOCKS are being exchanged for NHZ assets.
I think that the smartest way to do this, is to make sure that everyone stakes (most secure) and that the moment of exchanging for NHZ assets will caclulate the total amount of BLOCKS available and set a conversion rate based on that.

Let's see what the team has in mind about this

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: Spoetnik on October 30, 2014, 07:03:58 AM

Quote from: synechist on October 30, 2014, 06:58:16 AM

Quote from: BallOOner on October 30, 2014, 06:37:06 AM

the only thing I don't get is why dev needs so much money? 1 million bucks, thats pretty greedy to my taste. And I'm not sure if the market will be able to support the 25k sat price at a 10,000,000 coin money supply

2500 BTC is a limit, not a required maximum.

It's there so that people don't buy *more* than this amount; hence it's to prevent pumps.

If we raise less, then the remaining BLOCK will be destroyed, and the project will move ahead.

So really the situation is:
- we don't *need* 2500 BTC, we need a minimum of 850 BTC as stated in the OP.
- but 2500 BTC will maximise the chances of success of the project
- it's entirely up to public demand to determine how much funding we get.

Then why not just lower the amount to 850 then ?

Because less risk is better than more risk.

Quote from: strunzdumm on October 30, 2014, 07:00:00 AM

Quote from: synechist on October 30, 2014, 06:58:16 AM

- but 2500 BTC will maximise the chances of success of the project

There is a chance the projekt can fail?

Of course. There are competitors, there are incoming regulations, software development can get delayed or get expensive... the list goes one.

Hence the need to minimise risk. The more funds we get, the better the chance of success.

WhiteNotWright

full member

Activity: 196

Merit: 100

Fibre Knight

It's almost like the kid down the street comes knocking on your door asking why your grass is so nice...

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

Quote from: synechist on October 30, 2014, 06:58:16 AM

Quote from: BallOOner on October 30, 2014, 06:37:06 AM

the only thing I don't get is why dev needs so much money? 1 million bucks, thats pretty greedy to my taste. And I'm not sure if the market will be able to support the 25k sat price at a 10,000,000 coin money supply

2500 BTC is a limit, not a required maximum.

It's there so that people don't buy *more* than this amount; hence it's to prevent pumps.

If we raise less, then the remaining BLOCK will be destroyed, and the project will move ahead.

So really the situation is:
- we don't *need* 2500 BTC, we need a minimum of 850 BTC as stated in the OP.
- but 2500 BTC will maximise the chances of success of the project
- it's entirely up to public demand to determine how much funding we get.

Then why not just lower the amount to 850 then ?

And wow i had no idea until now but Staking ? Roll Eyes

So far i am hearing about a 100% premined coin being sold off that has so far raised a quarter of a million dollars and guys are staking already.

strunzdumm

newbie

Activity: 28

Merit: 0

Quote from: synechist on October 30, 2014, 06:58:16 AM

- but 2500 BTC will maximise the chances of success of the project

There is a chance the projekt can fail?

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: BallOOner on October 30, 2014, 06:37:06 AM

the only thing I don't get is why dev needs so much money? 1 million bucks, thats pretty greedy to my taste. And I'm not sure if the market will be able to support the 25k sat price at a 10,000,000 coin money supply

2500 BTC is a limit, not a required maximum.

It's there so that people don't buy *more* than this amount; hence it's to prevent pumps.

If we raise less, then the remaining BLOCK will be destroyed, and the project will move ahead.

So really the situation is:
- we don't *need* 2500 BTC, we need a minimum of 850 BTC as stated in the OP.
- but 2500 BTC will maximise the chances of success of the project
- it's entirely up to public demand to determine how much funding we get.

pinkman12345

legendary

Activity: 1070

Merit: 1021

Quote from: BallOOner on October 30, 2014, 06:37:06 AM

the only thing I don't get is why dev needs so much money? 1 million bucks, thats pretty greedy to my taste. And I'm not sure if the market will be able to support the 25k sat price at a 10,000,000 coin money supply

I think your missing the point that 100% of the coins will be in circulation. No POW getting dumped, the only dumping will be from those who think this is for the quick buck, but with their own research will have seen that this project is being made ready in Q2 2015, so i don't know who who will be dumping before then.... if you do then you shouldn't have got involved in the first place.

sandor111

hero member

Activity: 616

Merit: 500

Quote from: PowderMonkey on October 28, 2014, 07:34:11 PM

URO = red flags all over. Post something productive please

Haha. Gugli has played you! URO is real, the event was real. http://uro.io/bcf/doc/bcf_prospectus.pdf

sfc

member

Activity: 134

Merit: 10

Quote from: myxamop on October 30, 2014, 05:44:37 AM

Quote from: Specialkey on October 30, 2014, 05:38:56 AM