Topic:  INTERNET OF COINS ⛓ blockchain freedom (r)evolution ⛓ [ CROWDFUND CLOSED ] - page 37. (Read 69334 times)

Contact form can be found here: https://coinstorm.net/en#contact

where is the contact form?

Thanks!

In that case contact us via our contact form with the details of your transaction, and we will check your signup and send you another confirmation.

thanks for the reply, I did not receive the email in the spam folder either...

Agent725 is currently traveling to Asia, will pick a few to answer;

Thanks for following

Q: Will investors receive a percentage of token supply or a set dollar amount?
Participants of the crowdfund receive a set amount of hybrids solely based on the sum they transfer. The rewards mentioned will be transferred as a percentage of the token supply.

Q: What happens to tokens not purchased?
Leaving this one for Agent725.

Q: Also, how does your decentralized exchange compare to Blocknet?
I have not recently compared them. I remembered they announced late 2014 and coins could buy a spot in the network back then, plus I recall revenue based on network fees, these approaches are different from our non-profit inclusiveness incentive.


Agent725 is right. Technically we intend and prefer not to directly add cryptocurrencies, but rather sub-assetsystems which support the infrastructure. Any user can then start building recipes to hook up currencies to the network. Because a lot of currencies are just clones, and have the same API design. Added picture for clarification;



Please check your spam folder
All transactions are recorded separately for us as well, in case yours was not sent. We will contact every participant via e-mail before distribution of the assets takes place in July, to confirm the sender's data.

i purchase some hybrid and receive this message:
but i dont receive yet that email with the summary, Should i worry?

Thanks for the replies, @Dotrego. 

Some of that info disagrees with what @agent725 said. 

E.g.:
agent725: "A: For HYBRID we will not be adding 1M tokens per cryptocurrency. "
vs
Dotrego:  Future chains for other systems (preferably supporting multiple cryptocurrencies) are not planned as of yet. We did have some initial talks with interested devs (i.e ETC), but for now we focus on the current existing 7 types. A new type should have enough to match the others for liquidity, so 1 million (divisible) makes sense.


Liquidity and 1:1 exchange rate
I'm not understanding how liquidity for 1:1 swapping could be guaranteed while the coins are not technically fungible. 

Since the hybrid do live on their respective chains, they are distinguishable, so not totally fungible.  E.g. if Bitcoin were to fail entirely, in the sense of no nodes running anymore, my HYBRID on the BTC blockchain would have to become worthless.  It's pretty basic economics that in a free market with fixed supplies of money (as hybrid and ETH and BTC are), you can't both fix the exchange rate and guarantee that markets clear (1:1 conversion at any volume).

From what I understand, the plan is that Hybrid creates a mechanism where if I want to swap my hybrid-BTC for hybrid-ETH, then I should be able to do so at 1:1 for any volume I posses.  Since the system isn't going to force a hybrid-ETH holder to swap them for BTC against their will, there must be some incentive structure in place to convince them to do so.  You mention fees for liquidity provision.  That could help.  But who pays the fees?  If the person wanting to swap does, then effectively the value of hybrid-BTC need not equal the value of hybrid-ETH, because the fee for trading the former for the latter would not necessarily equal the fee for trading the latter for the former.  A difference in fees would be necessary to keep 1:1 conversion possible all the time, which is effectively not 1:1 conversion but (1 + fee1) : (1 + fee2) conversion.  If the fees come from taxing the system at large, it seems like some type of skewed incentive structure and free lunch would be created.  Consider again the example of a chain threatening to become defunct.  No one wants to hold that chain's Hybrid, but IOC provides fees to encourage individuals to do so.  But if the holder doesn't have to pay the fee directly to trade their hybrid for one on a more viable chain, then they will immediatly do the 1:1 conversion.  The Hybrids will be passed around like hot potatoes, while the whole hybrid system is taxed to provide the fee for liquidity incentivization for the next user to catch the hot potatoe.  The taxes will cripple the system.  This can't work.

So I'd really like to see all the details of how the liquidity incentivization will work.  As things have been explained currently, it seems like you are trying to violate basic economics by fixing an exchange rate and guaranteeing markets clear, which can't work.  There's something not right here.


Inflation
If there is a 1:1 exchange rate, then adding 1M coins per chain will create inflation.  The inflation would just be nominal, not real, if those coins were 100% distributed to the existing hybrid owners, in proportion to the amount they own.  But ow you are essentially selling new shares of the IOC system at large.  As more chains are added to the ecosystem, it makes sense that the ecosystem would become more valuable, but the expansion in coins is linear at 1M coins per chain, while the expansion in value would be sublinear bc adding not-particularly-useful chains to the ecosystem is of less value than adding ETH, BTC, etc.  Hence there will still be real inflation if those aren't exclusively distributed to the existing Hybrid holders.

It makes me pretty nervous when I think about investing in hybrid when hybrid's inflation is completely at the whims of the developers adding 1M new coins whenever they want.  Especially without any explicit promises about how this release schedule might occur over time.  Can you address this concern?

Been watching you guys since 2014. Nice to see you keep it up.

Will investors receive a percentage of token supply or a set dollar amount? What happens to tokens not purchased?

Also, how does your decentralized exchange compare to Blocknet?

I like this project - concept (have read all white paper) and hope it will succeed 

We should add all this to the FAQ.

July 1st, we will start distribution of the assets. (See the roadmap). We will send you the link to a generator of your chain, so we don't have the info for your wallet. Once you created one, we'll deposit the hybrids to the address. (Or send us an existing one.)


@Winslow; there are actually 7 different types of tradeable hybrid assets released (one for each type of chain). They form a uniform entity, however, are separated on the blockchain level. So there is no actual inflation in the total portfolio of chains once a new hybrid is released, since it is issued to another chain, which technically makes it a new asset.

Reward payouts mentioned in the terms remain the same for participants in the 2017 crowdfund; the payouts are for people supporting this initial campaign.

Q: How can a 1:1 swap be enforced AND liquidity be maintained?  If the market were to net want to swap hybrid on one chain for another, and the exchange rate of 1:1 is imposed, where does the liquidity come from so that all those who want to swap can swap?
A: The Internet of Coins node system gives allocators a transaction fee for providing liquidity for a swap. This is how a 1:1 swap can be enforced and liquidity can be maintained. In simple terms users will be able to 'save' their HYBRID and receive 'interest' through fees this way. In addition; the assets within a chain do not move off-chain, they just end up at another participant. So liquidity remains.

Q: What are the specific trades that can be made to instantiate the arbitrage?
A: Imbalance in the price of HYBRID can be traded via third party exchanges or DEX's by arbitrage opportunity seekers. This is how it works with every token and/or cryptocurrency that is traded on multiple exchanges.

Q: How many HYBRID tokens will be added per new crypto?  
A: Future chains for other systems (preferably supporting multiple cryptocurrencies) are not planned as of yet. We did have some initial talks with interested devs (i.e ETC), but for now we focus on the current existing 7 types. A new type should have enough to match the others for liquidity, so 1 million (divisible) makes sense.

Q: If any, how are they to be sold and to whom do the revenues from the sales go?  
A: Future additions would be released in a comparable manner. Fungibility provided by interested participants, all proceedings would go to our financial custodian, the NLnet foundation. Proceedings would be used for development, user payouts and hooking up the chain, just like now.

Q: Or maybe you mean no new HYBRID tokens will be issued, i.e. there will always be 7M?  
A: the amount of HYBRIDs in total for BTC/XCP/NXT/ETH/XEM/BTS/WAVES will remain 1M per chain, totaling 7M.

Q: But then how would other chains be included within IOC's weave-based DEX?
A: The client can be pointed to specific assets to be included in its exchange profile for matching. Eventually, we intend for people to be able to create their own multi-chain assets.

The node looks pretty cool. Well done! 

Thanks for that info, @agent725.  A few followups, if you don't mind:



Q: I'm confused about the tokens being associated with a cryptocurrency, re:fungibility.  If I have hybrid on BTC is it guaranteed to be equal in value to hybrid on ETH (for example?)?  If so, how would parity be maintained over time?

A: On Internet of Coins all HYBRID tokens on any chain will be only swappable 1:1. This means that even if prices differ on exchanges, the swap market in the IoC wallet makes sure you can swap your HYBRID to another chain.

How can a 1:1 swap be enforced AND liquidity be maintained?  If the market were to net want to swap hybrid on one chain for another, and the exchange rate of 1:1 is imposed, where does the liquidity come from so that all those who want to swap can swap?

Q: Suppose all the BTC hybrid owners want to sell their BTC hybrid and buy ETH hybrid?  Is there an arbitrage trade that will keep the values at parity?  

A: Yes. Arbitrage opportunities would abound such an extreme case, and eventually pull the market back into equilibrium.

What are the specific trades that can be made to instantiate the arbitrage?

Q: I'm concerned about the potential for inflation.  IOC seems eager to implement (and add 1M hybrid) to as many cryptos as possible.  Won't this produce massive inflation?  How will those new issuances occur in practice and be allocated?  If they will be for sale, who receives the cryptocurrency for them?  

A: For HYBRID we will not be adding 1M tokens per cryptocurrency. We are first focused on developing a functional market of seven decentralized token asset systems. After this has been achieved, we may expand HYBRID to other well-functioning token asset systems that have their own DEX. This will be done in way that makes HYBRID more fungible. I.e. liquid markets bring in new users of HYBRID. We expect this to make the token more functional towards new chains and thus more interesting for a larger user base two years down the road.

How many HYBRID tokens will be added per new crypto?  If any, how are they to be sold and to whom do the revenues from the sales go?  Or maybe you mean no new HYBRID tokens will be issued, i.e. there will always be 7M?  But then how would other chains be included within IOC's weave-based DEX?

Q: Minor thing - on the front page of this ANN you say there will be 5M coins in the crowdsale, but on the crowdsale site it seems like its 7 cryptos for 7M coins total.

A: We initially planned to start with 5 asset systems, however, at the start chose to work with 7 instead. Where do we still mention 5?

Looks like it's corrected now.

Hi.

Im totally noob at this but I purchase some hybrid to check things out and how it works.

Entered email, code, transaction ID etc. How will I received those tokens?

Thanks.

Haha, not for the wooden enclosure. But of course the chips and electronics are not hand-made by ourselves. 

Wow!   so you guys are not dependent on big industry like Intel, Samsung or Asus for rainbow unicorn production..?

You can check the addreses here https://coinstorm.net/en/terms

Also at the moment each token is 1 USD so 167326.243 tokens is 167326.243 USD.

How much fund you have raised? I see no information on total bitcoin value. Where to see this?

Thanks. @ammo is the designer of it. He made it so it can be made in many places, and thus we try out decentralized production.

For some non-technical people this would be a great way to host an Internet of Coins node with blockchains, without having to worry about how to set it up technically.

At the moment these 'ecoputers' made in limited amounts.