Cryptoleak, kindly post constructive, well-substantiated criticism, or leave.
Trolling will get you nowhere.
Topic: [ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 452. (Read 1103311 times)
October 22, 2014, 11:25:17 AM
October 22, 2014, 11:09:15 AM
Coverage of the Blocknet on Crypto Coins News!
https://www.cryptocoinsnews.com/blocknet-works-initial-token-offering-rules/#comments
October 22, 2014, 10:46:46 AM
Another SuperNet and Atomic! Shit!
Yes. Another clone of SuperNet and Atomic.
How do you clone something that doesn't exist yet?
https://github.com/jl777/btcd/tree/master/libjl777
October 22, 2014, 10:45:45 AM
No I think $50,000 is well enough to get the project started. Once progress has been proven more funds can be collected through sale of shares.
I don't see how the logic of throwing up 10,000,000 shares worth $1,000,000 up front will generate more(or even the same) level of confidence in people so they feel safe investing. If you generate more confidence, you will get more investors. Maybe even get the full $1,000,000 over time. Staged share releases up to 10,000,000 shares are the best way to go in my opinion.
In the same vein as lower taxes generate a stronger economy by stirring spending, a smaller initial share offering to fund starting the project will generate confidence that funds are not going to be sitting there with no guarantees of a product. People will appreciate and be more willing to invest further into it when they see progress happening at each step. Momentum will build on the project.
The only way you lose is if you're this guy:
I don't see how the logic of throwing up 10,000,000 shares worth $1,000,000 up front will generate more(or even the same) level of confidence in people so they feel safe investing. If you generate more confidence, you will get more investors. Maybe even get the full $1,000,000 over time. Staged share releases up to 10,000,000 shares are the best way to go in my opinion.
In the same vein as lower taxes generate a stronger economy by stirring spending, a smaller initial share offering to fund starting the project will generate confidence that funds are not going to be sitting there with no guarantees of a product. People will appreciate and be more willing to invest further into it when they see progress happening at each step. Momentum will build on the project.
The only way you lose is if you're this guy:
The Ger, I think your concerns have been entirely resolved by Driv3n's post below.
Also, $50,000 will get you virtually nothing. That's an unrealistically small amount in my opinion.
Also, $50,000 will get you virtually nothing. That's an unrealistically small amount in my opinion.
Just because some other group took in $2,000,000 doesn't make it fine to "only" ask for $1,000,000 for your own project and think you're giving away a deal. Your view of reality is skewed brah...
This project will get a lot more support both financially and vocally if they tone down the cash cow and stagger their share offerings to source development funds in smaller allotments as I suggested earlier.
500,000 shares initially @ .00025 = 125 BTC
If they can't or won't kickstart this project with $50,000 worth of BTC then I have to question the legitimacy of the project. Once we see significant progress for our funding then perhaps another share offering can be done to get to the next level.
I strongly urge the Blocknet developers though, don't just ask for $1,000,000 because you think you can. I think you can guess where that's going to lead with this community. Be realistic. In all honestly I believe anything more than approx. $500,000 for a working product is cheeky and you are going to have a lot of people looking the other way on this project if you try and pull that amount.
If you are dead set on offering 10,000,000 shares I'd to it in .00015 BTC values.
10,000,000 x .00015 = 1500 BTC x $400 = $600,000
MUCH more reasonable in my opinion.
This project will get a lot more support both financially and vocally if they tone down the cash cow and stagger their share offerings to source development funds in smaller allotments as I suggested earlier.
500,000 shares initially @ .00025 = 125 BTC
If they can't or won't kickstart this project with $50,000 worth of BTC then I have to question the legitimacy of the project. Once we see significant progress for our funding then perhaps another share offering can be done to get to the next level.
I strongly urge the Blocknet developers though, don't just ask for $1,000,000 because you think you can. I think you can guess where that's going to lead with this community. Be realistic. In all honestly I believe anything more than approx. $500,000 for a working product is cheeky and you are going to have a lot of people looking the other way on this project if you try and pull that amount.
If you are dead set on offering 10,000,000 shares I'd to it in .00015 BTC values.
10,000,000 x .00015 = 1500 BTC x $400 = $600,000
MUCH more reasonable in my opinion.
I see some concern from people asking why the blocknet needs 2500 BTC or why 1 million dollars. Just wanted to clarify that the Blocknet foundation isnt requesting and doesnt need this much it is simply the maximum amount that could be donated during the ITO. I think we all agree that 2500 BTC is an ambitious goal, but its a good idea because if less is donated, the extra shares are destroyed and everyone who donated now has a larger share.
Think about what would happen if the ITO had a max amount of shares that equaled 500 BTC and that total was reached halfway through the ITO, then you'd be left with people upset that they missed the opportunity to buy shares and the Blocknet would lose all that additional funding. So its good that the bar is set high just in case.
Think about what would happen if the ITO had a max amount of shares that equaled 500 BTC and that total was reached halfway through the ITO, then you'd be left with people upset that they missed the opportunity to buy shares and the Blocknet would lose all that additional funding. So its good that the bar is set high just in case.
October 22, 2014, 10:43:13 AM
Another SuperNet and Atomic! Shit!
Yes. Another clone of SuperNet and Atomic.
How do you clone something that doesn't exist yet?
October 22, 2014, 10:34:38 AM
Another SuperNet and Atomic! Shit!
Yes. Another clone of SuperNet and Atomic.
October 22, 2014, 10:29:55 AM
Question:
1. Where will the coins be stored after ICO?
2. Who is managing the funds after the ICO?
3. Has every Coin the same Voting Rights for Decisions?
Thanks.
4. Moreover it would be cool to have a list of Coin Representatives (Main Dev of the Coins) so everyone could see there is POD! (I know it but other people don't maybe..)
1. Where will the coins be stored after ICO?
2. Who is managing the funds after the ICO?
3. Has every Coin the same Voting Rights for Decisions?
Thanks.
4. Moreover it would be cool to have a list of Coin Representatives (Main Dev of the Coins) so everyone could see there is POD! (I know it but other people don't maybe..)
still there.
This.
After the ITO, Blocknet tokens can initially be stored in a traditional wallet. Once the Blocknet's tech is ready, you'll be able to redeem tokens for NHZ assets instead.
Funds raised during the ITO will be stored in their respective wallets and publicly accounted for. We're also looking into escrow solutions - potentially a structured escrow that only releases funds once we reach milestones, or returns funds to investors if we do not reach a milestone.
The Blocknet Foundation will manage the funds. (The Foundation will consist of a representative from each participating coin.)
Yes I see no reason for any coin to have less rights than another.
I like the Coin Representatives idea. Nice. We should organise that.
yeah the idea with the milestones and escrow is a good idea! It will give the whole project more confidence
October 22, 2014, 10:24:04 AM
When does the ITO end?
It'll probably last a week.
Details will be confirmed as we approach the ITO.
October 22, 2014, 10:22:30 AM
^^ In how many days after ITO will the trading of Block/BTC begin?
The Block:BTC pairings will begin at the start of the ITO and will never stop.
The ITO is just a sell wall on a pairing.
So, once the ITO is sold out completely, you can start trading blocknet shares for BTC?
Yup.
This will continue at traditional exchanges until the Blocknet's tech is ready to pay fees to holders, at which point Blocknet tokens can be redeemed at the NHZ asset exchange.
What is an NHZ asset exchange please? Link?
It's the same as NXT, but a clone of sorts.
October 22, 2014, 10:22:11 AM
^^ In how many days after ITO will the trading of Block/BTC begin?
The Block:BTC pairings will begin at the start of the ITO and will never stop.
The ITO is just a sell wall on a pairing.
So, once the ITO is sold out completely, you can start trading blocknet shares for BTC?
Yup.
This will continue at traditional exchanges until the Blocknet's tech is ready to pay fees to holders, at which point Blocknet tokens can be redeemed at the NHZ asset exchange.
What is an NHZ asset exchange please? Link?
http://nhzcrypto.org/media/nhz-how-to-buy-and-sell-assets-using-the-nhz-asset-exchange-youtube.45/
October 22, 2014, 10:13:26 AM
^^ In how many days after ITO will the trading of Block/BTC begin?
The Block:BTC pairings will begin at the start of the ITO and will never stop.
The ITO is just a sell wall on a pairing.
So, once the ITO is sold out completely, you can start trading blocknet shares for BTC?
Yup.
This will continue at traditional exchanges until the Blocknet's tech is ready to pay fees to holders, at which point Blocknet tokens can be redeemed at the NHZ asset exchange.
What is an NHZ asset exchange please? Link?
October 22, 2014, 10:07:30 AM
Wow! Distributed file storage!
It's not like any other crypto networks already have that working!
https://forum.thesupernet.org/index.php?topic=196.0
https://github.com/jl777/btcd/blob/master/libjl777/api.h#L539
It's not like any other crypto networks already have that working!
https://forum.thesupernet.org/index.php?topic=196.0
https://github.com/jl777/btcd/blob/master/libjl777/api.h#L539
October 22, 2014, 09:52:00 AM
When does the ITO end?
October 22, 2014, 09:47:01 AM
Another SuperNet and Atomic! Shit!
October 22, 2014, 09:41:29 AM
This might help clear up another couple of misunderstandings about comparisons:
SuperNET Newsletter #4
http://nxter.org/supernet-newsletter-4/
Also, BBR, VRC and BITS are core SuperNET coins (to the extent that BITS can be).
SuperNET Newsletter #4
http://nxter.org/supernet-newsletter-4/
Also, BBR, VRC and BITS are core SuperNET coins (to the extent that BITS can be).
October 22, 2014, 09:36:09 AM
Coverage of the Blocknet in Altcoin Speculation!
http://altcoinspeculation.com/the-blocknet-how-it-works/
October 22, 2014, 09:31:18 AM
Hi all
The FAQ under the OP has just been updated.
Thanks for all your excellent and probing questions! You're helping to carve out the Blocknet in important ways.
Keep the constructive criticism coming...
Synechist
https://bitcointalksearch.org/topic/m.9269808
The FAQ under the OP has just been updated.
Thanks for all your excellent and probing questions! You're helping to carve out the Blocknet in important ways.
Keep the constructive criticism coming...
Synechist
https://bitcointalksearch.org/topic/m.9269808
Great summary , thank you synechist
October 22, 2014, 09:25:23 AM
Hi all
The FAQ under the OP has just been updated.
Thanks for all your excellent and probing questions! You're helping to carve out the Blocknet in important ways.
Keep the constructive criticism coming...
Synechist
https://bitcointalksearch.org/topic/m.9269808
The FAQ under the OP has just been updated.
Thanks for all your excellent and probing questions! You're helping to carve out the Blocknet in important ways.
Keep the constructive criticism coming...
Synechist
https://bitcointalksearch.org/topic/m.9269808
October 22, 2014, 08:30:29 AM
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).
How do we buy then with the other participating coins?
Only possible at CoinGateway?
The price of BLOCK is fixed in BTC. But the price of all other participating coins are continously fluctuating against BTC. Furthermore different exchanges have different prices. So how do you determine the BLOCK price in other coins? Will you simply take the market price of each coin at the start date of the ITO and calculate with that? And then take the 10% off of that price?
Will the initial supply of BLOCKs be evenly distributed between the 4 exchanges?
CoinGateway will handle the majority of coins.
The reason for this is that only BLOCK:BTC pairings will persist after the ITO. Exchanges won't be keen to add a pile of new pairings only to remove them shortly afterwards.
For pricing, we'll pick prices of Blocknet tokens at the start time of the ICO based on a recent average (exact algorithm TBD). Then we'll deduct 10%, and put up a sell wall there.
Any discrepancies in price between coins will be arbitraged by traders, and so the market will converge on a 10% discount no matter what coin you use.
October 22, 2014, 08:25:15 AM
At CoinGateway all the other coins will be paired to BLOCK.
What is coingateway??Is it different from a normal exchange?
Also how will the XC exchange rate be calculated?
+1
How is this going to work through coingateway? (presuming you mean http://www.coingateway.net )
+2
Coingateway is wonderfully easy to use. You choose your input and output currency, enter your addresses, and you're done.
The tokens will arrive in your (temporary) Blocknet wallet (which is almost ready!).
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