[ANN][Blocknet] truly decentralized exchange | token ecosystem infrastructure - page 457.

Crypto_MERC

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Quote from: synechist on October 21, 2014, 01:52:28 PM

Quote from: ?? on ??

Quote from: kingbtcvl on October 21, 2014, 01:43:04 PM

lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

Good point

All coins will be used to fund development.

They will not need to be sold or dumped; they'll be paid to developers in little amounts, over the duration of the project.

What this does is increase actual usage of the coins. It won't suppress their price.

That's awesome!

synechist

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Activity: 1190

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To commodify ethicality is to ethicise the market

Quote from: ?? on ??

Quote from: kingbtcvl on October 21, 2014, 01:43:04 PM

lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

Good point

All coins will be used to fund development.

They will not need to be sold or dumped; they'll be paid to developers in little amounts, over the duration of the project.

What this does is increase actual usage of the coins. It won't suppress their price.

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: Crypto_MERC on October 21, 2014, 01:37:32 PM

Where will the exchange occur?

I'm assuming Bittrex and Polo will be used for BlockNet/BTC transactions, so does that mean Coingateway will be used for the exchanges of blocknet participating coins for the ITO? I've never used it, so is it pretty easy to navigate around? Once it is live, will it be on their front page?

Thanks in advance.

Yes that's the plan at present, though other pairings will be available elsewhere too.

We'll clarify this further as we approach the ITO.

kingbtcvl

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Activity: 202

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lets assume all tokens will be sold. then you will probably have a bunch of all participating coins. what will you do with them?
i mean if you sell them to the market all at once you will crash the corresponding coin. but on the other hand you will need to sell some to pay the development, won't you?

Crypto_MERC

sr. member

Activity: 336

Merit: 250

Where will the exchange occur?

I'm assuming Bittrex and Polo will be used for BlockNet/BTC transactions, so does that mean Coingateway will be used for the exchanges of blocknet participating coins for the ITO? I've never used it, so is it pretty easy to navigate around? Once it is live, will it be on their front page?

Thanks in advance.

Revelation

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Activity: 462

Merit: 250

Quote from: synechist on October 21, 2014, 01:15:33 PM

Quote from: Revelation on October 21, 2014, 01:12:18 PM

Quote from: synechist on October 21, 2014, 12:08:11 PM

Quote from: Revelation on October 21, 2014, 11:24:08 AM

Quote from: GBattaglia on October 21, 2014, 09:30:02 AM

Interested in buying in with a supported currency. How will those currencies have a 10% discount if tokens are just sold on Bittrex?

Prices of participating coins fluctuate relative to BTC. If Token/BTC price will be fixed at 25k satoshi, how will you fix the rate between Token/participating_coin given that participating_coin/BTC fluctuates?

When tokens are available, coin pricing will become relative to the token's price.

While this won't lock the coins' prices absolutely, the potential for arbitrage will have the effect of converging prices relative to the token's price.

Suppose that XC price is 10k and Token has a fixed price of 25k, that would mean that 2.5 XC can buy 1 Token, however because of the 10% discount 2.25 XC can buy 1 Token (there will be a sell order on Token/XC pair at the price of 2.25). Over the course of 1 day XC price jumps 2 fold to 20k, what will happen with Token/XC pair price and how can you make it dynamic given that Bittrex ICOs do not allow the price to change?

If XC doubled in price during the ITO, then everyone would have a wonderful time selling it for BTC and buying double the tokens with another coin.

As you might imagine, XC's price would drop back to 10k pretty quickly.

Ok, so Token/XC rate will be fixed throughout the ITO period as well, correct? When will you determine that rate and how would you determine it?

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market

Quote from: Revelation on October 21, 2014, 01:12:18 PM

Quote from: synechist on October 21, 2014, 12:08:11 PM

Quote from: Revelation on October 21, 2014, 11:24:08 AM

Quote from: GBattaglia on October 21, 2014, 09:30:02 AM

Interested in buying in with a supported currency. How will those currencies have a 10% discount if tokens are just sold on Bittrex?

Prices of participating coins fluctuate relative to BTC. If Token/BTC price will be fixed at 25k satoshi, how will you fix the rate between Token/participating_coin given that participating_coin/BTC fluctuates?

When tokens are available, coin pricing will become relative to the token's price.

While this won't lock the coins' prices absolutely, the potential for arbitrage will have the effect of converging prices relative to the token's price.

Suppose that XC price is 10k and Token has a fixed price of 25k, that would mean that 2.5 XC can buy 1 Token, however because of the 10% discount 2.25 XC can buy 1 Token (there will be a sell order on Token/XC pair at the price of 2.25). Over the course of 1 day XC price jumps 2 fold to 20k, what will happen with Token/XC pair price and how can you make it dynamic given that Bittrex ICOs do not allow the price to change?

If XC doubled in price during the ITO, then everyone would have a wonderful time selling it for BTC and buying double the tokens with another coin.

As you might imagine, XC's price would drop back to 10k pretty quickly.

Revelation

sr. member

Activity: 462

Merit: 250

Quote from: synechist on October 21, 2014, 12:08:11 PM

Quote from: Revelation on October 21, 2014, 11:24:08 AM

Quote from: GBattaglia on October 21, 2014, 09:30:02 AM

Interested in buying in with a supported currency. How will those currencies have a 10% discount if tokens are just sold on Bittrex?

Prices of participating coins fluctuate relative to BTC. If Token/BTC price will be fixed at 25k satoshi, how will you fix the rate between Token/participating_coin given that participating_coin/BTC fluctuates?

When tokens are available, coin pricing will become relative to the token's price.

While this won't lock the coins' prices absolutely, the potential for arbitrage will have the effect of converging prices relative to the token's price.

Suppose that XC price is 10k and Token has a fixed price of 25k, that would mean that 2.5 XC can buy 1 Token, however because of the 10% discount 2.25 XC can buy 1 Token (there will be a sell order on Token/XC pair at the price of 2.25). Over the course of 1 day XC price jumps 2 fold to 20k, what will happen with Token/XC pair price and how can you make it dynamic given that Bittrex ICOs do not allow the price to change?

synechist

legendary

Activity: 1190

Merit: 1000

To commodify ethicality is to ethicise the market