This reminds me of the rating system of tripadvisor. Sometimes i visit a restaurant that was rated low on tripadvisor, but then I rate it 5 stars. Especially when there are not many raters yet, one stupid review of a customer can really have a bad influence on how the restaurant runs. Even tho rating a product is very popular nowadays, a bad/not fair rating of a manager could have big implications..
This could be avoided by only showing the ratings after a X amount of rating. If a manager has no rating yet he can write a blog on his investments strats. After enough people rate him , rating is visible.
Hope Genesis does something with this wisdom
Rating you are talking about has no relation to the manager's level and rating, because they are forming by his profits and losts results.
Really good that you're answering questions so quickly
Regarding managers' tokens on internal exchange, I suppose that if a manager is doing pretty good his/her token will go up in price in the internal exchange, it will be possible to sell/buy tokens on internal exchange during the reporting period?
An investor can sell/buy manager's tokens in any period, even before the reporting period.
• Managers issue their own branded cryptocurrency, which can be freely traded by investors.
What? In which way they will be issue their own cryptocurrency? I dont think, that is good idea... Every manager can make hundreds cryptocurrency, but in fact, this will be wourth nothing...
One cryptocurrency per manager. So there will be a lot of different tokens but I'm sure only the best will remain and gain strong value.
If this will get mainstream we should raise gwei on ethereum transactions. All manager with his token would definitely make ethereum blockchain slower.
Why should this slower the blockchain?
There wont be hundreds of managers I think.
I don't quite understand the meaning of "• Managers issue their own branded cryptocurrency, which can be freely traded by investors."
You mean to say that managers will create new tokens rather than using the existing ones?
Will these tokens not be created and running on the Genesis platform and when these tokens are transferred outside the platform they will converted to the Genesis token?
• Managers issue their own branded cryptocurrency, which can be freely traded by investors.
What? In which way they will be issue their own cryptocurrency? I dont think, that is good idea... Every manager can make hundreds cryptocurrency, but in fact, this will be wourth nothing...
investors will invest on good traders. before they invest theyn can check trade history and strategy bio data. this is one first rule all invester doing before investing money.
You read, what i wrote? I asked about their own tokens! May be devs can explaine this?
Manager need to put some funds to make their coin valuable. Its one of the requirement to register as a manager
what if they dont put some funds into their tokens? their project will fail or will the tokens worth something when generated?
Manager’s tokens give investors the ability to speculate on the value of the managers themselves. For example, by buying coins from an unknown trader with a winning strategy, investors will see the value of their coins rise not based solely on the value of the profits gained from the trades but from the perceived future value of that traders winning formula. This gives investors the ability to take a hands on approach by betting on traders and their strategies but also by diversifying their investments with different traders. You can hedge your bets by investing in traders who use different strategies.
Genesis Vision platform is powered by Ethereum smart contracts, which are basically open-source apps running on the blockchain. Smart contracts are coded in a way that will allow on-demand creation of new tokens - manager’s tokens. Each new registered manager will issue his own cryptocurrency, which will be traded on the internal Genesis Vision exchange. Its value will rise and grow according to manager’s success. Practically, manager’s tokens can be thought of as common stocks.
The form of sale of manager’s tokens will depend on the form of coins issue. During initial manager’s token issue, coins will be sold by a manager directly and their price will be fixed.
After the initial sale is finished, manager tokens will be freely traded between users of Genesis Vision on the platform own exchange. From that point on, the price will be unpinned. It will be defined entirely by the market based on how successful a manager is.
How can the investor check the manager's ability?
Investors will have access to manager's trading and profit statistics, which will be accessible in one place.
Thank you for the explanation. But the second question, probably I could not properly ask. That's what I mean. Suppose the manager sold 1,000 coins for $ 1. Then the manager got a profit and now has $ 10,000. Then these coins, which already own investors, also increase in price to $ 10? And to get your profit, the investor can just sell these coins? Or the second option: the manager pays to all holders of coins profit in proportion to the number of coins they have? And then the owners of coins can receive profit from the manager while owning coins?
In the first variant, the profit itself does not directly go to investors. In the second variant the profit goes to them directly, minus the remuneration of the manager (commission).
From the documents, I did not quite understand how exactly the profit is made by investors.
Holders of coins receive part of the profits of the manager, according to their share. The investor has the right to transfer coins to another Ethereum wallet or sell on the internal exchange.
A manager doesn't distribute the profit, the profit will be distributed automatically by the smart contract.
The second varient is true - "the profit goes to them directly, minus the remuneration of the manager (commission)."
Thank you for the explanation. Thus, manager coins are a kind of shares that pay dividends, as long as they have me. In addition, manager coins can grow in value. But it is possible and this option: the manager issues a new issue of his coins, for example, increasing his security deposit, and this amount produces coins. Then the number of manager coins increases and the price of coins may decrease? And it's possible that the profit on each coin may also decrease, if the manager could not increase the profit even after obtaining additional working capital, as the number of coins increased.
No, the outline is different. Smart contracts are coded in a way that will allow on-demand creation of new tokens - manager’s tokens. Each new registered manager will issue his own cryptocurrency, but only one currency.
Did anyone check the verdict of the smart contract code audits ? What flaws are in the code ?
was there any problem? I didn't find info about it, please explain
You can find Smart Contracts Audit Report here
https://genesis.vision/genesis-vision-audit.pdfis HITBTC exchange already confirmed?
Yes, it is already confirmed.
