Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 386. (Read 1103311 times)

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

This. Why on earth would a third party company have any input in to the valuing of the Blocknet tokens? Also I've noticed that people who paid with XC (not sure about other coins) received Blocknet tokens at different rates - I got approx 2.9 BLOCK per XC and cryptico got roughly 2.7. Was the BLOCK price not fixed? Not trying to fud here, just seeking clarity.

They're not valuing Blocknet tokens, they valued coins used to buy Blocknet tokens.

That's the same thing.

Also, was the price fixed throughout the duration of the ITO on coingateway for XC?

synechist

legendary

Activity: 1190

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To commodify ethicality is to ethicise the market

Quote from: Koontas on October 29, 2014, 12:22:22 PM

Quote from: synechist on October 29, 2014, 12:20:21 PM

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

This. Why on earth would a third party company have any input in to the valuing of the Blocknet tokens? Also I've noticed that people who paid with XC (not sure about other coins) received Blocknet tokens at different rates - I got approx 2.9 BLOCK per XC and cryptico got roughly 2.7. Was the BLOCK price not fixed? Not trying to fud here, just seeking clarity.

They're not valuing Blocknet tokens, they valued coins used to buy Blocknet tokens.

When this is all over, I want to see proof you're holding the Blocknet coins that were used to purchase BLOCK on that exchange.

Of course. We've been very upfront on the fact that all funds will be transparently held and spent.

P.S. I made your remark non-abusive. I'd appreciate it if you could edit the original similarly.

Koontas

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Activity: 784

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Quote from: synechist on October 29, 2014, 12:20:21 PM

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

This. Why on earth would a third party company have any input in to the valuing of the Blocknet tokens? Also I've noticed that people who paid with XC (not sure about other coins) received Blocknet tokens at different rates - I got approx 2.9 BLOCK per XC and cryptico got roughly 2.7. Was the BLOCK price not fixed? Not trying to fud here, just seeking clarity.

They're not valuing Blocknet tokens, they valued coins used to buy Blocknet tokens.

When this is all over, I want to see proof you're holding the Blocknet coins that were used to purchase BLOCK on that shitty exchange.

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: tx42 on October 29, 2014, 12:20:17 PM

Quote from: synechist on October 29, 2014, 12:19:22 PM

Quote from: tx42 on October 29, 2014, 12:16:09 PM

Quote from: synechist on October 29, 2014, 12:14:11 PM

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

Yes, it is their responsibility for the pricing of coins, in the same way that it could not be our responsibility to price coins on an exchange where one is listed.

Ah. So the blocknet people don't take blocknet coins for the ICO. Hmmm.

Where's the faith in the blocknet coins?

Your opinions get more weird by the second.

Of course we take Blocknet coins! That's why the ITO included them.

We'll use the coins to fund development.

Then why did you let a third party determine the exchange rate?

Because it's their responsibility to exchange the coins for BLOCK.

We'd have a conflict of interest if we determined the price.

This is pretty glaringly obvious IMO.

Bobsurplus

legendary

Activity: 1008

Merit: 1000

Making money since I was in the womb! @emc2whale

Can someone clear some things up for me.. I just woke up and was taking a look at blocknet and I see that poloniex has opened trading and blocknet is now selling there for less then the ito price and less then it is on bittrex.

Is that just a fuckup on Vern's part or was that how this is supposed to work?

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

This. Why on earth would a third party company have any input in to the valuing of the Blocknet tokens? Also I've noticed that people who paid with XC (not sure about other coins) received Blocknet tokens at different rates - I got approx 2.9 BLOCK per XC and cryptico got roughly 2.7. Was the BLOCK price not fixed? Not trying to fud here, just seeking clarity.

They're not valuing Blocknet tokens, they valued coins used to buy Blocknet tokens.

tx42

hero member

Activity: 742

Merit: 500

Quote from: synechist on October 29, 2014, 12:19:22 PM

Quote from: tx42 on October 29, 2014, 12:16:09 PM

Quote from: synechist on October 29, 2014, 12:14:11 PM

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

Yes, it is their responsibility for the pricing of coins, in the same way that it could not be our responsibility to price coins on an exchange where one is listed.

Ah. So the blocknet people don't take blocknet coins for the ICO. Hmmm.

Where's the faith in the blocknet coins?

Your opinions get more weird by the second.

Of course we take Blocknet coins! That's why the ITO included them.

We'll use the coins to fund development.

Then why did you let a third party determine the exchange rate?

ShillAccount

newbie

Activity: 40

Merit: 0

Quote from: BitcoiNaked on October 29, 2014, 12:17:07 PM

Quote from: TheGer on October 29, 2014, 11:02:58 AM

Talk about a tainted ICO...you guys really messed this one up and screwed over a lot of people.

Let this be a lesson to the rest of you, they may talk a big game but they really have no clue what they're doing.

Nobody messed up here, don't talk crap when you can't buy block

You are ignorant. Look at the conversion rates they gave on the alts. These Blocktards have no clue how their coins were distributed? Yeah right! Like they're just going to allow coingateway to use an algorithm of their choosing without any information.

If that truly is the case, they're in deeper than I originally thought.

benthach

legendary

Activity: 1764

Merit: 1000

Quote from: reRaise on October 29, 2014, 11:00:18 AM

Quote from: crackfoo on October 29, 2014, 10:55:44 AM

Quote from: synechist on October 29, 2014, 12:17:23 PM

Well looking at the exchanges volumes, it looks like the Blocknet is well above its minimum 850 BTC - 683 at Bittrex, approx 300 at coingate, approx 40 at Poniex & 3 at BTer. That's over 1K of BTC. Awesome news. 6 days to go!!!

bitt shows 169... and is that not both Buy/Sell volume?

Where do you get 169? It shows 678 BTC worth of bLOCK are available for purchase it was 850 BTC

He's talking about the sell volume not the total amount that was available.

there are 821 more at bter and ton more at polo. bter and polo are dead. the place that sold out is coingate, people dumping their shit coins. everyone at polo selling at below ito price right now. it don't look good.

tx42

hero member

Activity: 742

Merit: 500

Quote from: crackfoo on October 29, 2014, 12:15:22 PM

Quote from: synechist on October 29, 2014, 12:14:11 PM

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

Yes, it is their responsibility for the pricing of coins, in the same way that it could not be our responsibility to price coins on an exchange where one is listed.

that's just wrong.

Umm, any reason for that opinion?

Yes. It means that blocknet is not taking blocknet coins for the ITO.

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: tx42 on October 29, 2014, 12:16:09 PM

Quote from: synechist on October 29, 2014, 12:14:11 PM

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

Yes, it is their responsibility for the pricing of coins, in the same way that it could not be our responsibility to price coins on an exchange where one is listed.

Ah. So the blocknet people don't take blocknet coins for the ICO. Hmmm.

Where's the faith in the blocknet coins?

Your opinions get more weird by the second.

Of course we take Blocknet coins! That's why the ITO included them.

We'll use the coins to fund development.

ib88

newbie

Activity: 56

Merit: 0

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

This. Why on earth would a third party company have any input in to the valuing of the Blocknet tokens? Also I've noticed that people who paid with XC (not sure about other coins) received Blocknet tokens at different rates - I got approx 2.9 BLOCK per XC and cryptico got roughly 2.7. Was the BLOCK price not fixed? Not trying to fud here, just seeking clarity.

Mountaingoat

hero member

Activity: 714

Merit: 500

So I can't buy Blocknet shares with 10% off anymore?

That is shenanigans.

qawzsx

sr. member

Activity: 280

Merit: 250

NOT FUD! FACTS!

Quote from: crackfoo on October 29, 2014, 12:15:22 PM

Talk about a tainted ICO...you guys really messed this one up and screwed over a lot of people.

Let this be a lesson to the rest of you, they may talk a big game but they really have no clue what they're doing.

sad poor ass, can't afford blocknet...

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: synechist on October 29, 2014, 12:14:11 PM

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

Yes, it is their responsibility for the pricing of coins, in the same way that it could not be our responsibility to price coins on an exchange where one is listed.

that's just wrong.

Umm, any reason for that opinion?

BitcoiNaked

sr. member

Activity: 456

Merit: 250

Quote from: BitcoiNaked on October 29, 2014, 12:08:26 PM

Talk about a tainted ICO...you guys really messed this one up and screwed over a lot of people.

Let this be a lesson to the rest of you, they may talk a big game but they really have no clue what they're doing.

Nobody messed up here, don't talk crap when you can't buy block

mxxxxxx

legendary

Activity: 2310

Merit: 1000

Can i send block to my wallet from Bittrex once i have downloaded the wallet or do i have to wait until ITO is over?

Quote from: atcsecure on October 29, 2014, 02:01:05 AM

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.

tx42

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Activity: 742

Merit: 500

Quote from: synechist on October 29, 2014, 12:14:11 PM

Quote from: synechist on October 29, 2014, 12:07:58 PM

The term "you" here refers to a third party (CoinGateway) with no vested interest in shafting anyone.

In fact, their prime interest is to attract customers, so I very much doubt there'd be any "shafting" going on.

Their algorithm was not disclosed to prevent gaming coins' prices prior to the ITO.

If you're unhappy with the price of SWIFT, please take it up with them. I'm interested to hear their response actually, so by all means post it here.

Are you saying that you let CoinGateway come up with the averaging function for your ITO?

That makes very little sense.

It would be impossible to game an averaging function significantly if it weighted historical prices more than recent prices. That's not a new concept.

I thought you guys were computer scientists and knew about mathy things like that.

Yes, it is their responsibility for the pricing of coins, in the same way that it could not be our responsibility to price coins on an exchange where one is listed.

Ah. So the blocknet people don't take blocknet coins for the ICO. Hmmm.

Where's the faith in the blocknet coins?

Revelation

sr. member

Activity: 462

Merit: 250

Quote from: synechist on October 29, 2014, 11:30:09 AM

Quote from: Revelation on October 29, 2014, 11:27:33 AM

Quote from: synechist on October 29, 2014, 11:11:34 AM

A few minutes ago my figures were at ~701 BTC worth of BLOCK sold in 7 hours.

At this rate we'd get to 16824 BTC by the end of the ITO's time limit.

Good thing we put a maximum amount on the ITO then.

Edit: oh wait, the ITO doesn't last exactly 7 days. It's a bit shorter.

500 BTC is on not really BTC but alts, right? Does that count toward the minimum 850 BTC?

Yes 500 BTC of the 701 BTC total at the time was in alts.

This does count towards the minimum off 850 BTC.

So, let me sum up. Your initial goal was to raise 2000 BTC and 500 BTC equivalent in the form of alts with 10% discount. You have raised 500 BTC equivalent in the form of alts with 10% discount that is worth 450 BTC. Out of 2000 BTC the following sell orders are remaining on the 3 exchanges:
Bter: 821.26273 (825 BTC initial)
Bittrex: 658.561 (850 BTC initial)
Poloniex: 338.8632978 (350 BTC initial)
Total: 1818.687028 (2025 BTC initial - why not 2000?)

i.e. you have sold less than 10% of the planned BTC amount and yet you are claiming that at the current rate you will collect 16k BTC. This is grossly inaccurate statement.

crackfoo

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Activity: 3556

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Quote from: synechist on October 29, 2014, 12:14:11 PM