Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 437. (Read 1103311 times)
October 26, 2014, 04:59:14 PM
Are there rewards for early investors? Or is it the same invest the first day or the last day?
October 26, 2014, 04:44:50 PM
so, by going through coingateway...
will all the participating coins be automatically sold on a market to retrieve bitcoin-- thus crashing the price of all the altcoins that people are using to purchase blocknet?
will all the participating coins be automatically sold on a market to retrieve bitcoin-- thus crashing the price of all the altcoins that people are using to purchase blocknet?
The Blocknet Foundation keeps the coins to fund development. There will be no dumping of coins. They will be paid to developers in little amounts over the duration of the project. Therefore the ITO won`t decrease the value of participating coins. It will increase actual usage of a coins and should increase its value.
October 26, 2014, 04:41:25 PM
so, by going through coingateway...
will all the participating coins be automatically sold on a market to retrieve bitcoin-- thus crashing the price of all the altcoins that people are using to purchase blocknet?
will all the participating coins be automatically sold on a market to retrieve bitcoin-- thus crashing the price of all the altcoins that people are using to purchase blocknet?
No, the coins form part of the Blocknet's funding. They're not sold anywhere.
The Blocknet will keep the funds and use them for development.
October 26, 2014, 04:38:46 PM
so, by going through coingateway...
will all the participating coins be automatically sold on a market to retrieve bitcoin-- thus crashing the price of all the altcoins that people are using to purchase blocknet?
will all the participating coins be automatically sold on a market to retrieve bitcoin-- thus crashing the price of all the altcoins that people are using to purchase blocknet?
October 26, 2014, 04:12:38 PM
Ok, that sounds good. The wallet comes in 29?
So will there be a BlockNet wallet at Bittrex then? If so, when will it be available? Or do I somehow create a wallet in another currency to receive the Tokens?
BlockNet wallet will be available before the ITO , exchanges have to have it to receive the tokens and to sell them next
You will be able to create the address on exchange or in your personal wallet
October 26, 2014, 04:04:02 PM
So will there be a BlockNet wallet at Bittrex then? If so, when will it be available? Or do I somehow create a wallet in another currency to receive the Tokens?
October 26, 2014, 03:58:34 PM
Ok, that sounds good. The wallet comes in 29?
October 26, 2014, 03:50:20 PM
Only with coingateway, then I need to register once as well.
You don`t have to register there , it is very simple to use, you're given an address to pay your participating coin to, and you enter an address to receive BLOCK tokens
October 26, 2014, 03:45:01 PM
Only with coingateway, then I need to register once as well.
October 26, 2014, 03:07:07 PM
the discount is only for coingateway?
Are there rewards for early investors? Or is it the same invest the first day or the last day?
Are there rewards for early investors? Or is it the same invest the first day or the last day?
Yes, you will be able to buy tokens with participating coins at 10% discount through coingateway only, unless some exchange does additional pairing but i don`t think so
10% discount through the whole ITO process
I thought bittrex would offer pairing for coins like BLOCK/XC for 10% discount, no? Arlyn, is it only coingateway that you can get the discount?
I am basing on this for now
In other news...
The ITO will also be taking place on Bter!
The ITO will also be taking place on Bter!
Great!
Will I be able to buy using the coins listed or does it have to be Bitcoin?
You can buy Blocknet tokens using any participating coin.
At Bter and Bittrex there will probably only be a BTC:BLOCK pairing.
At Poloniex there will probably be a BTC:BLOCK and NHZ:BLOCK pairing.
At CoinGateway all the other coins will be paired to BLOCK.
After the ITO, only BTC:BLOCK pairings will be available (because it makes no sense for participating coins to trade against the Blocknet when they function to give value to the Blocknet).
October 26, 2014, 03:04:28 PM
[ slippage ]
I think that an important point with regard to this matter is that its significance depends entirely on the service in question. Services that only require a one-way transaction will not have this as even a potential problem.
But yes they will, the problem is 50% less than when exchanging back and forth, but it's still there.
Equally important is the fact that the issue is entirely addressable by the design of any given service (i.e. by a coin, not by the Blocknet), and these services have not been designed/optimised for the Blocknet.
For example, if a service requires that coins be returned to the client, then they don't actually have to be exchanged, and so an escrow service might work better.
This would eliminate slippage and thereby present a competitive advantage to any service that offers it.
For example, if a service requires that coins be returned to the client, then they don't actually have to be exchanged, and so an escrow service might work better.
This would eliminate slippage and thereby present a competitive advantage to any service that offers it.
And what would this do to anonymity set?
The point is that you're worried about something that is (a) readily surmountable and (b) hasn't arisen yet. You're pre-empting an issue and then worrying about it as if it's a real problem.
In my opinion, you should've worried about it beforehand (if you want to portray a professional and competent image to potential investors that is), and not after some people start realizing it's going to be a problem.
It isn't. In a free market of coin-based services, there'll be competition on a new level. Coins will have no problem inventing clever ways of rendering quality services and rising to the top of the pile.
The issue of slippage should be something that blocknet solves, so every coin can benefit from it. If it isn't, then a whole lot of perceived usefulness of blocknet just disappears.
October 26, 2014, 02:34:47 PM
the discount is only for coingateway?
Are there rewards for early investors? Or is it the same invest the first day or the last day?
Are there rewards for early investors? Or is it the same invest the first day or the last day?
Yes, you will be able to buy tokens with participating coins at 10% discount through coingateway only, unless some exchange does additional pairing but i don`t think so
10% discount through the whole ITO process
I thought bittrex would offer pairing for coins like BLOCK/XC for 10% discount, no? Arlyn, is it only coingateway that you can get the discount?
October 26, 2014, 02:20:46 PM
the discount is only for coingateway?
Are there rewards for early investors? Or is it the same invest the first day or the last day?
Are there rewards for early investors? Or is it the same invest the first day or the last day?
Yes, you will be able to buy tokens with participating coins at 10% discount through coingateway only, unless some exchange does additional pairing but i don`t think so
10% discount through the whole ITO process
October 26, 2014, 02:00:34 PM
the discount is only for coingateway?
Are there rewards for early investors? Or is it the same invest the first day or the last day?
Are there rewards for early investors? Or is it the same invest the first day or the last day?
October 26, 2014, 01:04:07 PM
There are a couple of trustless escrow designs out there. I'm no expert on this, but one of the more interesting ones is Truthcoin. It's one of the most visionary ideas I've read in quite a while.
More pertinent to a simple service provider might be Blackhalo and this concept. No doubt there are a lot of other ideas out there too.
which again would mean that i have to exchange my coins to use truthcoin.
i am out... if you want my money you need way more technical details instead just of promising returns.
maybe i'll come back when you are finished...
No you wouldn't have to exchange your coins. Do you know what Truthcoin is?
It's not a "coin".
It's a way of creating distributed prediction markets.
October 26, 2014, 12:56:13 PM
There are a couple of trustless escrow designs out there. I'm no expert on this, but one of the more interesting ones is Truthcoin. It's one of the most visionary ideas I've read in quite a while.
More pertinent to a simple service provider might be Blackhalo and this concept. No doubt there are a lot of other ideas out there too.
which again would mean that i have to exchange my coins to use truthcoin.
i am out... if you want my money you need way more technical details instead just of promising returns.
maybe i'll come back when you are finished...
October 26, 2014, 12:54:18 PM
I think that an important point with regard to this matter is that its significance depends entirely on the service in question. Services that only require a one-way transaction will not have this as even a potential problem.
Equally important is the fact that the issue is entirely addressable by the design of any given service (i.e. by a coin, not by the Blocknet), and these services have not been designed/optimised for the Blocknet.
For example, if a service requires that coins be returned to the client, then they don't actually have to be exchanged, and so an escrow service might work better.
This would eliminate slippage and thereby present a competitive advantage to any service that offers it.
The point is that you're worried about something that is (a) readily surmountable and (b) hasn't arisen yet. You're pre-empting an issue and then worrying about it as if it's a real problem.
It isn't. In a free market of coin-based services, there'll be competition on a new level. Coins will have no problem inventing clever ways of rendering quality services and rising to the top of the pile.
i am just looking at the example you previously provided...which involved mutiple exchanges
ok we'll see...
edit: is there some kind of automatic (and possible trustfree) escrow possible with your design?
There are a couple of trustless escrow designs out there. I'm no expert on this, but one of the more interesting ones is Truthcoin. It's one of the most visionary ideas I've read in quite a while.
More pertinent to a simple service provider might be Blackhalo and this concept. No doubt there are a lot of other ideas out there too.
October 26, 2014, 12:50:15 PM
What sort of transparency & accountability will be in place after the ITO in regards to the funds raised?
So then the Community suggestion by GER about a partial ITO funding at the beginning of the ITO and then milestones funding was not taken into account?
Can you clarify on that?
Did not gave credit to the ones that were saying that this project will dilute yours and Dan job with XC...guess I was wrong.
Can you clarify on that?
Did not gave credit to the ones that were saying that this project will dilute yours and Dan job with XC...guess I was wrong.
I've previously clarified (apologies for not linking to this... it might actually be on the OP though) that TheGer's suggestion is a good one and that we're looking at potential partners for a structured escrow service, potentially based around milestones. This isn't to say that we'll definitely find a suitable partner that we're completely comfortable we can trust, but it does mean that TheGer's suggestion is a good one.
So, in terms of transparency and accountability:
- spending will be reported by the Blocknet Foundation
- budget and development plans will be published (before the ITO and periodically afterwards)
- an escrow service structured around milestones (that includes an auditor) is being considered
Since it's in our interest to build up as much trust as possible between us and the public, we have every interest to excel at all of the above.
October 26, 2014, 12:47:57 PM
I think that an important point with regard to this matter is that its significance depends entirely on the service in question. Services that only require a one-way transaction will not have this as even a potential problem.
Equally important is the fact that the issue is entirely addressable by the design of any given service (i.e. by a coin, not by the Blocknet), and these services have not been designed/optimised for the Blocknet.
For example, if a service requires that coins be returned to the client, then they don't actually have to be exchanged, and so an escrow service might work better.
This would eliminate slippage and thereby present a competitive advantage to any service that offers it.
The point is that you're worried about something that is (a) readily surmountable and (b) hasn't arisen yet. You're pre-empting an issue and then worrying about it as if it's a real problem.
It isn't. In a free market of coin-based services, there'll be competition on a new level. Coins will have no problem inventing clever ways of rendering quality services and rising to the top of the pile.
i am just looking at the example you previously provided...which involved mutiple exchanges
ok we'll see...
edit: is there some kind of automatic (and possible trustfree) escrow possible with your design?
October 26, 2014, 12:44:07 PM
If, despite this, it's still an issue, there are lots of bot algorithms that can drive up volume and/or reduce the spread. These sorts of market maker bots - or, for that matter, regular ol' human scalpers – would remove the problem.
Finally, the Blocknet will support an entire economy of services; liquidity will be, at best, an initial problem.
the same market maker bots are working currently on all exchanges (i ran one on polo) and they dont solve the slippage problem.
why do you think that this would be better with your p2p-exchange?
seriously: i dont want to downtalk your project. i just want to see if it is useful (atm i dont think so: but PLEASE convince me
If exchanges are useful to you (and by the sound of things they are) then why would the Blocknet somehow not be useful, especially if it massive increases usage of coins, thereby reducing slippage?
Also, the slippage problem only applies to transactions above a certain size. Microtransactions for services won't be affected.
So *even* if the Blocknet doesn't increase volume and liquidity, there's still no problem for microtransactions (i.e. service fees).
i like your exchange: but there are already other ones - and yes even p2p ones like nxt.
your project is intersting to me because it allows me to use other coins features without actually holding them (eg the SMS send feature you mentioned).
but this will require an automatic conversion from and to my base currency. this two exchanges will cost me money (spread) as no one will have a sell and a buy order at the same price (it isnt even possible btw as they would match each other)
so i only can see this as an additional fee from the user perspective and as a way to get money from a market maker pov.
and atm the spreads in altcoins are really BIG ( i have seen way more than 20% loss just for a back and forth conversion)
if you have an incentive for a market maker to make the spread as small as possible this wouldnt be a big issue: but i dont see any (i mean any more incentives as with the current exchanges)
I think that an important point with regard to this matter is that its significance depends entirely on the service in question. Services that only require a one-way transaction will not have this as even a potential problem.
Equally important is the fact that the issue is entirely addressable by the design of any given service (i.e. by a coin, not by the Blocknet), and these services have not been designed/optimised for the Blocknet.
For example, if a service requires that coins be returned to the client, then they don't actually have to be exchanged, and so an escrow service might work better.
This would eliminate slippage and thereby present a competitive advantage to any service that offers it.
The point is that you're worried about something that is (a) readily surmountable and (b) hasn't arisen yet. You're pre-empting an issue and then worrying about it as if it's a real problem.
It isn't. In a free market of coin-based services, there'll be competition on a new level. Coins will have no problem inventing clever ways of rendering quality services and rising to the top of the pile.
Jump to: