Topic: Why does Iconomi work under ETH and not BTC? (Read 498 times)
I don't know much about the project other than its an Etherum token. They could have just as easily made Bitcoin token using Omni like AMP or Maidsafe. Maybe they're planning on using smart contracts of Etherum?
First of all, did you read the white paper? You can not judge the ability of the project by the failure of Ethereum or not! A coin that costs $ 10 is failure? That depends on the point of view. 
I don't care how much the coin costs, let's look at the fundamentals... and we'll see how Vitalik has done a poor job in numerous occasions. He told exchanges to stop all ETH trades during the DAO disaster, he did a ridiculous fork which resulted in 2 chains, due the rushed hard fork, they forgot to add some fixes so further hard forks will ensue... ETH is indeed a mess, I don't care about it's price, price is just speculation, if they can't get their shit together it will not last.
My question is, why did they choose ETH and not BTC? BTC can't make ICN work? because i've heard that they can move the project to Bitcoin if they want to, my question is why they didn't start with Bitcoin from day one?
They will be sending out 1500+ transactions to every ethereum address that holds ICN in order to pay dividends once per week.
That would fill up a whole block and cost ~0.8 btc every week on the Bitcoin network. Ethereum is cheaper and probably easier because ICN is a smart contract that keeps track of all the addresses and distributes the dividends.
ICN tokens: Freely-circulating tokens that receive all revenue generated by OFM platform. A sort of trading platform where crypto hedge fund managers can open funds and earn fees by trading with clients' money.
ICNX token: A freely-circulating token that represents a share of Iconomi's index fund. A flagship fund on OFM platform that tracks a basket of top-volume cryptos.
ICNP token: represents a share of Iconomi's performance fund. This token is less liquid and does not circulate outside OFM platform. It represents another flagship fund on OFM platform that invests into new icos.
The developers of ICONOMI has worked for longer with ethereum so they are much good in ethereum rather than bitcoin and as they have worked for ethereum so they love ethereum and want to give it the preference.
Bitcoin doesn't have a working smart contract platform.
First of all, did you read the white paper? You can not judge the ability of the project by the failure of Ethereum or not! A coin that costs $ 10 is failure? That depends on the point of view.
I don't care how much the coin costs, let's look at the fundamentals... and we'll see how Vitalik has done a poor job in numerous occasions. He told exchanges to stop all ETH trades during the DAO disaster, he did a ridiculous fork which resulted in 2 chains, due the rushed hard fork, they forgot to add some fixes so further hard forks will ensue... ETH is indeed a mess, I don't care about it's price, price is just speculation, if they can't get their shit together it will not last.
My question is, why did they choose ETH and not BTC? BTC can't make ICN work? because i've heard that they can move the project to Bitcoin if they want to, my question is why they didn't start with Bitcoin from day one?
Iconomi seems like an interesting idea (if im understand it right... and maybe not). If I get it right, I think it's like a cryptocurrency fund.. now I don't get why there are multiple tokens like ICN, ICXN or whatever, can someone explain how that works? is there multiple tokens or only one?
Also, why does it work under ETH and not BTC? How can I trust a token that works under Ethereum? Ethereum seems like a failure to me, ETH doesn't stop collapsing and im not safe with Vitalik and is crazy hardforks.
Also, why does it work under ETH and not BTC? How can I trust a token that works under Ethereum? Ethereum seems like a failure to me, ETH doesn't stop collapsing and im not safe with Vitalik and is crazy hardforks.
The fork will be gone and PoS will be coming. But I ever read jaka has answered it through his Instagram channel. About how the iconomi team was choosing ether platform.
bacause iconomi coin dev ,
create coin use ethereum token, so is work under ethereum
ethereum token work use ethereum never use bitcoin
create coin use ethereum token, so is work under ethereum
ethereum token work use ethereum never use bitcoin
I do not think that the problem is move project to another code.
Have you read the White Paper?
Have you read the White Paper?
Iconomi seems like an interesting idea (if im understand it right... and maybe not). If I get it right, I think it's like a cryptocurrency fund.. now I don't get why there are multiple tokens like ICN, ICXN or whatever, can someone explain how that works? is there multiple tokens or only one?
Also, why does it work under ETH and not BTC? How can I trust a token that works under Ethereum? Ethereum seems like a failure to me, ETH doesn't stop collapsing and im not safe with Vitalik and is crazy hardforks.
Also, why does it work under ETH and not BTC? How can I trust a token that works under Ethereum? Ethereum seems like a failure to me, ETH doesn't stop collapsing and im not safe with Vitalik and is crazy hardforks.
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