Topic: [ANN][INCNT] Incent Loyalty | Waves Token | Traded on Bittrex - page 162. (Read 491330 times)

While making purchase, it is important that currency is not volatile.
If a person purchased a good of $ 10 and receives $1 worth tokens at that time.
He goes to another shop after one year, and he finds out that tokens are now worth $0.5 only. This would not be good for customers as they would be at risk fictions price.

So how would you prevent such situation?
Correct me if I'm wrong somewhere in my assumptions.

The Greek ann thread will be updated again on the 25th of November

Hey De Selby,
a) You're right, we'll have BTC/fiat and Incent reserves so we can send Incent and regular cash to merchants and customers promptly. There will be overall pressure on the price of Incent for a couple of reasons at least. The spread (we will redeem Incent at a slightly lower price than it's bought) for a start. Also, the merchant ecosystem will expand rapidly in the early months and years. A lot of Incent will therefore be bought. There will necessarily be a lag between that being sent to the customer and the customer redeeming it - if in fact they do, since many will probably hold as an investment or possibly forget about it! Essentially, any adoption brings greater scarcity of available supply.

b) If a merchant issues a token when Incent is $1 and it's at $2 when the customer redeems it, that's good for both of them! Remember, Incent is just another form of money. It's not backed by that individual merchant, it's sold at market price. This is one of the things that merchants love about Incent - there's no forward liability.
Of course, Incent may be worth less when it's redeemed by the customer, due to market fluctuations. That's not great, but everyone knows what the deal is from the start at the value of Incent in fiat will be displayed to the customer in the app. Also, we've designed Incent in such a way that the value should rise sustainably over the long term, whatever short-term volatility there is.

c) Waves is a platform and Incent a Waves token. So Waves is a tool here, rather than 'backing' Incent in some way. Incent will trade against fiat (merchants buying and redeeming) and BTC (on exchanges). Confidence in Waves is important, but so long as the platform works well I don't see that the price of Waves should materially impact the price of Incent once it's in the wild and being used as intended.

Does that all make sense?

I  have a couple of questions:

a) Regarding the reserve fund:

Merchant A rewards Customer B with x INCENT at PoS. The tokens are transfered to the customer's wallet from the reserve fund. A few days latter, you guys get paid y amount in fiat, which you use to buy bitcoin. you then proceed to buy INCENT in the open market to balance the books. This creates demand for the token and benefits savers and investors. Great!

But what happens when a customer wants to redeem his tokens? Customer pays in incent, you guys probably have to wire the merchant the equivalent amount in fiat(since the reason Rob started this project is that most merchants dont care about BTC). In order to balance the books, you know have to sell the INCENT you got from the customer in order to replenish your fiat reserves, causing the price to fall.

So, all things being equal the price stays the same, right? Am I  missing something here?

b)Also how do merchants deal with volatility in fiat terms? e.g., a merchant might issue a token for $ 1 in INCENT, only to see it go to $2 a couple of months later. How do you deal with this issue?

c) Regarding Waves:
You guys said that an increase in the price of Waves won't result in the appreciation of the INCENT token. Could you share the rationale for making that statement?

As things stand, INCENT's fate is very much tied to Waves and Sasha. The project might be able to recover in the long term should Waves fail, but in the short term it would be disastrous for you guys. As such, I  think it is only fair the price of INCENT should benefit from the appreciation of the Waves token.

Thanks in advance.

Every ICO offer bonus to early participants. If you look at it this way then those early participants will get around %65 bonus for investing during earlier days

the price difference comes as a bonus for early participants. the earlier you get into the ICO, the cheaper you'll get INCENT tokens.

Incent price is;
6,000 / BTC
3.18 / Waves
ICO will close in...19 day left.. Still have a chance to invest there

Also, some undervalued ICOs like Stratis have been going really well. I think Incent will perform similarly to Stratis if there's surprising positive news and the development is on time.

I don't really get your question  The price difference is the same, be it an ICO with a fixed price or a fixed number of coins to be sold. Question is more if you personally believe Incent will be worth more than the price you can buy it for now. For me, this is the case why I will most probably make another purchase towards the end of ICO.

KarlKarlsson, I have a question for you, don't you think the way the price was fixed affected the fund raised so far, I invested initially when the price was 1btc =10000Incent tokens but now 6000 incent tokens, I wish to invested more but going by the recent ICO performances on exchanges I decided to hold on, unlike when there will be a fixed amount of tokens to be distributed among all investors

Rob and Peter are working hard on sealing new partnerships, I'm sure we will soon get an update from them!

No, ICO is still going until November, 30. Don't lose out 

What ICO has been completed

It really does
$5 million is the cap, not the minimum. We have over $1 million, which is enough to take a good run at this.
Thanks for participating in the social campaigns.

5M is impossible, they have very hardly raised 1million, now the progress is slow, only a little more than 1 million.

Really?
I thought this is going to try to reach up to 5Million USD marketcap. How much had been gathered so far?
I believe I've participated to the twitter and facebook campaign. hope to see the price goes up. 

Been very these days. Any more updates? I am more interested on possible partnerships with some business entities especially there in Australia were Incent team is based. Heard before that there were presentations made in a big business group. Incent should become a great coin soon.

good suggest, but member who wear incent signature posting in another thread can attract more people to come in this thread  so can make incent project more popular too and interested to invest in this ICO

If you haven't done so, read our whitepaper to grasp the full concept of Incent and Open Value > https://www.incentloyalty.com/frontend_js_css/assets/whitepaper/UsingBlockchaintoBoostCommerce.pdf

Yes, ICO is a one-time thing. It would be decidedly not cool (and not a good example of Open Value) to inflate supply and sell more tokens.
Current total is 36m tokens right now. Hopefully a few more by the end of the ICO. You can see the running total from your dashboard.

Just one quick question: any plans down the line to raise more funds/issue more tokens? I take it the answer is "no", but just to make sure.

As it stands, the total number of tokens will be 17 million * 2 = 34 million. Is this correct?