Get ready for an IPO bonanza. These 16 companies are set
Get ready for an IPO bonanza. These 16 companies are set
Bitcoin Group CEO Claims a ‘Billion Dollar Opportunity
Bitcoin Group First Crypto Company to IPO, Shares Debut on
Bitcoin Group CEO eyes billion-dollar opportunity with
Jack Ma's Ant Group Sets Sights on Record IPO - TheStreet
FIGHTING FUD: Bitmain's IPO to the US raising more than $1 billion
Bitmain's IPO to the US is coming soon, raising more than $1 billion: core financial data exposure
$725m Losses in January / February 2019
$315m Profits in March 2019
April expected to reach 30% Gross Profit Margin
Bitmain sales for Q3/Q4 predicted to be strong
Bitmain has good good debt ratio.
Bitmain valued at $13 billion dollars to $15 billion dollars
Bitmain were clearing old stock early in the year.
It is expected that the fourth quarter will usher in an outbreak
Chinese Article HERE. In June of this year, Bloomberg broke the news that Bitmain has started IPO matters in the United States, and will submit a prospectus application by the end of July at the erliest. Today, in July, there are still no public offering documents on Bitmain. But another mining machine manufacturer, Jia Nan Zhizhi, has secretly submitted a listing application to the US Securities and Exchange Commission (details: Jia Nan, the world's second-largest bitcoin mining machine manufacturer, has secretly submitted a listing application to the SEC). However, Uncle C recently got the latest financial information from Bitmain, and may share some of the core data with you. On September 26, 2018, Bitmain submitted a prospectus application document to the Hong Kong Stock Exchange. The document shows that the two founders, Jank Group and Wu Jihan, are major shareholders, holding 36% and 20% respectively. Since its inception, Bitmain has mainly obtained three rounds of financing, which took place in August 2017, June 2018 and August 2018. Among them, Bitmain completed more than $700 million in financing in the second half of 2018. At the time of the release of the prospectus, the proportion of shares held by major investment institutions was small: Sequoia Capital held approximately 3.14%, Innovation Works held approximately 1.13%, Temasek held 0.35%, IDG Capital and Beijing IC Industry The International Fund holds 0.02% and 0.07% of the shares respectively. Valuation of Bitmain to $13 billion -$15 billion US dollars The above-mentioned investors gave the information that Bitmain tried to raise $1 billion to $1.5 billion in the estimated IPO of $13 billion to $15 billion . If the valuation is true, it will increase slightly from the valuation of around US$12 billion in the second half of 2018, and will be much higher than the “only” 500 given by the Hurun Greater China Unicorn Index in January this year. The valuation of 100 million yuan, although Bitmain ranked 11th in this list. It is clear that the financial data of Bitmain is re-optimized. Uncle C also got the financial statements of Q1 Bitmain in China this year. March profit of $315 million In the first quarter of 2019, Bitmain's total operating income was US$1.082 billion, of which revenues for the first three months were 253 million, 253 million and 579 million , respectively ; gross margins were 7.91 million, 14.7 million and 25.21 million respectively. The US dollar; net profit reached $315 million in March alone, and $345 million and $280 million in losses in January and February, respectively. From the perspective of net profit and gross profit, the data is obviously not so satisfactory. To this end, Bitcoin’s internal view is that in the first quarter, mainly in clearing inventory, especially at low prices, 16nm mining machine inventory, resulting in lower gross profit margin; after the completion of the old product clearance, sales of 7nm mining machine new products Will lead to an increase in gross profit margin, and the gross profit margin in April is expected to reach 30%. It is expected that the fourth quarter will usher in an outbreak In addition, given that the mining machine belongs to futures products and has placed 200 million 7nm chips in TSMC, Bitmain expects earnings to achieve explosive growth in Q4. For the new 7nm mining machine, Bitmain's internal view said that the concept of the 7nm mining machine was proposed in 2018 and is currently done in China and Japan; Bitmain is the only 7nm mine with mass production and delivery capabilities. Machine manufacturers. Here, Uncle C feels that it is advisable to make an intuitive comparison with the prospectus. According to the prospectus, the revenue, gross profit and after-tax profit of Bitcoin in 2017 were 274 million, 134 million and 83 million US dollars respectively; while the full year 2017 revenue, gross profit and after-tax profit were 2.518 billion, 12.13 respectively. Billion and $701 million. From this data, the main source of contribution to the annual income is obviously dependent on the performance in the second half . Therefore, Bitmain's sales forecast for the whole year is that Q3's cash flow will be stronger due to the customer's prepaid mining machine, but because of the small inventory, TSMC needs 3 to 4 months to produce, so Q4 will be the main issue. The time node for goods and revenue recognition. In addition to the 7nm mining machine mentioned above, the AI product line is also the direction of development of Bitcoin this year. Uncle C has already mentioned it in the article in June this year (related links: the news that Bitcoin applied for listing in the US next month, previously announced by the Hong Kong Stock Exchange "death penalty"), Bitmain began to enter at the end of 2015 In the AI field, R&D content includes AI chips, boards, servers, and various hardware and software products and customer development platforms. The main directions of the layout are security, campus, smart city, and Internet. At present, Bitmain has launched three products equipped with the cloud chip BM1684. In the first quarter of this year, it has reached cooperation with China Unicom and China Mobile Hangzhou R&D Center . The revenue of Q1 is nearly 32 million yuan. Bitmain has hundreds of millions of dollars worth of digital currency assets In terms of balance sheet, C Uncle also got the data at the end of March and the end of May. As of the end of May, Bitmain's total assets were approximately $1 billion, and the company's debt ratio after excluding preferred shares was 16%. In addition, Uncle C also received reflections and judgments on the IPO process within the Bitmain. Among them, the failure of Hong Kong's IPO, Bitmain China believes that the main reason is that the rapid decline in the currency price in a short period of time has led regulators to doubt the sustainability of their business. It is worth mentioning that Bitmain has now decided that it has no choice but to enter the US. Uncle C's point of view is that although Bitcoin currently has a market share of more than 70% in the digital currency mining machine market and has sufficient cash flow, the date of its official delivery must not wait too long . After all, the only viable listings of the three miners are currently in the United States. Once Jianan Zhizhi and even Yibang International are leading the listing progress, the order of time in the same competition will follow the listing process and market performance. Has a non-negligible influence. The ability of chip design is goal to enter the AI field. Rapid financing to sufficient funds will also help Bitmain further develop its layout in the chip and AI fields. Bitmain even stated in the documents given to investors that its ultimate goal is to become a technology-based commercial company.
Which type of curren(t) do you want to see(cy)? An analysis of the intention behind bitcoin(s). Part 3
Part 1 Part 2 So I have been subbed to /bitcoin since it had less than two thousand subs but haven't posted there in years. I think I took a break from researching bitcoin to take a foray into the world of conspiracy around 2014 and only got back in to it around the beginning of 2017 but with a bit of sense of skepticism and cynicism about everything. I think I returned to /bitcoin around that time but there had been a rift that had emerged in the community between those that said that bitcoin was censoring any discussion around big blocks but then also just censorship in general. This lead to the formation of /btc which became the main spot for big blockers to gather to talk about protocol development. Following the fork of Bitcoin Cash and SegWit (BTC) in August 2017 the camps were further divided when the fence sitters were denied their SegWit2x compromise. Many from the fence sitters then deferred back to the incumbent bitcoin as citing muh network effect, liquidity, and hashpower while some who felt betrayed by the failure of getting S2X through went to support BCH for some attempt at on chain scaling rather than through pegged side chains or Lightning Network. Bitcoin cash initially went with a modest doubling of the blocksize to 2MB but implemented some other features like a new more rapidly adjusting difficulty algorithm to protect themselves against hashpower fluctuations from the majority chain. In about July of that year I had seen what I potentially thought was someone LARPing on /biz/ but screencapped, that segwit2x which was scheduled for november 2017 would be called off and then hashpower would switch to BCH causing congestion and chain death spiral on BTC and BCH would pump massively. I was partial to the idea as the game theory and incentives on a big block bitcoin should attract miners. About a month after SegWit2x was indeed called off while the BTC blockchain was hugely congested, BCH went through a violent pump reaching 0.5 BTC/BCH on a European exchange called Kraken while it also pumped ridiculously on American exchange coinbase. Shortly afterwards the market took a giant dump all over those people who bought the top and it has since retraced to roughly 30:1 or so now. After that pump though BCH kind of gained some bagholders I guess who started to learn the talking points presented by personalities like Roger Ver, Jihan Wu, Peter Rizun and Amaury Sechet. Craig S Wright by this time had been outed as Satoshi but had in 2016 publicly failed to convince the public with the cryptographic proof he provided. To which he later published the article I don't have the courage to prove I am the bitcoin creator. In essence this allowed many to disregard anything he offered to the crypto community though his company nChain was very much interested in providing the technical support to scale what he saw as the true implementation of bitcoin. Following debate around a set of planned protocol upgrades between a bitcoin node implementation by his company nChain and the developers of another client Bitcoin ABC (adjustable block cap), the two parties both dug their heels in and wouldn't compromise. As it became clear that a fork was imminent there was a lot of vitriol tossed out towards Wright, another big billionaire backer Calvin Ayre and other personalities like Roger Ver and Jihan Wu. Craig's credibility was disregarded because of his failure to provide convincing cryptographic proof but still people who wanted to pursue the protocol upgrades that nChain were planning (as it best followed their interpretation of the bitcoin white paper) pursued his variant, while others who followed the socia consensus deferred to the positions of their personalities like Wu, Ver, and Sechet but even developers from Ethereum and other protocols chimed in to convince everyone that CSW is a fraud. This was referred to as the hash war and was the first time that the bitcoin protocol had been contentiously hard forked. Hashpower is the CPU cycles you can commit to the Proof of Work function in bitcoin and the majority will generate the longest chain as they have the most proof of work. To win the contentious hard fork legitimately and make sure your chain will always be safe going forward you need to maintain your version of the blockchain with 51% of the hashpower on the network and force the other parties to continue to spend money on building a blockchain that is never going to be inserted in to the majority chain. As well as this you need to convince exchanges that you have the majority chain and have them feel safe to accept deposits and withdrawals so that they don't lose money in the chaos. This is how it would play out if both parties acted according to the rules of bitcoin and the Nakamoto Consensus. There was a lot of shit talking between the two parties on social media with Craig Wright making a number of claims such as "you split, we bankrupt you" "I don't care if there is no ability to move coins to an exchange for a year" and other such warnings not to engage in foul play.. To explain this aftermath is quite tedious so It might be better to defer to this video for the in depth analysis but basically Roger Ver had to rent hashpower that was supposed to be mining BTC from his mining farm bitcoin.com, Jihan Wu did the same from his Bitmain Mining Farm which was a violation of his fiduciary duty as the CEO of a company preparing for an IPO. In this video of a livestream during the hashwar where Andreas Brekken admits to basically colluding with exchange owners like Coinbase, Kraken (exchange Roger Ver invested in), Bitfinex and others to release a patched ABC client to the exchanges and introducing "checkpoints" in to the BCH blockchain (which he even says is arguably "centralisation") in order to prevent deep reorgs of the BCH blockchain. >"We knew we were going to win in 30 mins we had the victory because of these checkpoints that we released to a cartel of friendly businesses in a patch so then we just sat around drinking beers all day". By releasing a patched client that has code in it to prevent deep reorgs by having the client refer to a checkpoint from a block mined by someone who supported BCHABC if another group of hash power was to try to insert a new chain history, this cartel of exchanges and mining farm operators conspired in private to change the nature of the bitcoin protocol and Nakamoto Consensus. Since the fork there have been a number of other BCH clients that have come up that require funding and have their own ideas about what things to implement on the BCH chain. What began to emerge was actually not necessarily an intention of scaling bitcoin but rather to implement Schnorr signatures to obfuscate transactions and to date the ABC client still has a default blocksize of 2MB but advertised as 16MB. What this demonstrates for BCH is that through the collusion, the cartel can immediately get a favourable outcome from the developers to keep their businesses secure and from the personalities/developers to work on obfuscating records of transactions on the chain rather than scaling their protocol. After the SegWit fork, many from the BCH camp alleged that through the funding to Blockstream from AXA and groups that tied to the Bilderbergs, Blockstream would be beholden to the legacy banking and would be a spoke and hub centralised model, so naturally many of the "down with central banks anarcho capitalist types" had gathered in the BCH community. Through these sympathies it seems that people have been susceptible to being sold things like coin mixing and obfuscation with developers offering their opinions about how money needs to be anonymous to stop the evil government and central banks despite ideas like Mises’ Regression Theorem, which claims that in order for something to be money in the most proper sense, it must be traceable to an originally non-monetary barter commodity such as gold. What this suggests is that there is an underlying intent from the people that have mechanisms to exert their will upon the protocol of bitcoin and that if obfuscation is their first priority rather than working on creating a scalable platform, this demonstrates that they don't wish to actually be global money but more so something that makes it easier to move money that you don't want seen. Roger Ver has often expressed sentiments of injustice about the treatment of Silk Road found Ross Ulbricht and donated a large amount of money to a fund for his defence. I initially got in to bitcoin seeking out the Silk Road and though I only wanted to test it to buy small quantities of mdma, lsd, and mescaline back in 2011 there was all sorts of criminal activity on there like scam manuals, counterfeits, ID, Credit Card info, and other darknet markets like armoury were selling pretty crazy weapons. It has been alleged by Craig Wright that in his capacity as a digital forensics expert he was involved with tracing bitcoin that was used to fund the trafficking of 12-16 year olds on the silk road. There have been attempts at debunking such claims by saying that silk road was moderated for such stuff by Ulbricht and others, but one only has to take a look in to the premise of pizza gate to understand that there it may be possible to hide in plain site with certain code words for utilising the market services and escrow of websites like the silk road. The recent pedo bust from South Korea demonstrates the importance of being able to track bitcoin transactions and if the first thing BCH wanted to do after separating itself from Satoshi's Vision and running on developer and cartel agendas was to implement obfuscation methods, this type of criminal activity will only proliferate. Questions one must ask oneself then are things like why do they want this first? Are some of these developers, personalities and cartel businesses sitting on coins that they know are tarnished from the silk road and want to implement obfuscation practices so they can actually cash in some of the value they are unable to access? Merchants from the silk road 1 are still being caught even as recently as this year when they attempted to move coins that were known to have moved through the silk road. Chain analytics are only becoming more and more powerful and the records can never be changed under the original bitcoin protocol but with developer induced protocol changes like Schnorr signatures, and coinjoin it may be possible to start laundering these coins out in to circulation. I must admit with the cynicism I had towards government and law enforcement and my enjoying controlled substances occasionally I was sympathetic to Ross and donated to his legal fund back in the day and for many years claimed that I wouldn't pay my taxes when I wanted to cash out of bitcoin. I think many people in the space possess this same kind of mentality and subsequently can be preyed upon by people who wish to do much more in the obfuscation than dodge tax and party. Another interesting observation is that despite the fact that btc spun off as a result of censorship around big block scaling on bitcoin, that subreddit itself has engaged in plenty of censorship for basically anyone who wants to discuss the ideas presented by Dr Craig Wright on that sub. When I posted my part 2 of this series in there a week ago I was immediately met with intense negativity and ad hominems so as to discourage others from reading the submission and my post history was immediately throttled to 1 comment every 10 mins. This is not quite as bad as cryptocurrency where my post made it through the new queue to gather some upvotes and a discussion started but I was immediately banned from that sub for 7 days for reason "Content standards - you're making accusations based on no evidence just a dump of links that do nothing to justify your claims except maybe trustnodes link (which has posted fabricated information about this subreddit mods) and a Reddit post. Keep the conspiracy theories in /conspiracy" My post was also kept at zero in bitcoin and conspiracy so technically btc was the least censored besides C_S_T. In addition to the throttling I was also flagged by the u/BsvAlertBot which says whether or not a user has a questionable amount of activity in BSV subreddits and then a break down of your percentages. This was done in response to combat the "toxic trolls" of BSV but within bitcoincashSV there are many users that have migrated from what was originally supposed to be a uncensored subreddit to discuss bitcoin and many such as u/cryptacritic17 has have switched sides after having been made to essentially DOXX themselves in btc to prove that they aren't a toxic troll for raising criticisms of the way certain things are handled within that coin and development groups. Other prominent users such as u/jim-btc have been banned for impersonating another user which was in actual fact himself and he has uploaded evidence of him being in control of said account to the blockchain. Mod Log, Mod Damage Control, Mod Narrative BTFO. Interestingly in the comments on the picture uploaded to the blockchain you can see the spin to call him an SV shill when in actual fact he is just an OG bitcoiner that wanted bitcoin to scale as per the whitepaper. What is essentially going on in the Bitcoin space is that there is a battle of the protocols and a battle for social consensus. The incumbent BTC has majority of the attention and awareness as it is being backed by legacy banking and finance with In-Q-Tel and AXA funding blockstream as well as Epstein associates and MIT, but in the power vaccum that presented itself as to who would steward the big block variant, a posse of cryptoanarchists have gained control of the social media forums and attempted to exert their will upon what should essentially be a Set In Stone Protocol to create something that facilitates their economic activity (such as selling explosives online)) while attempting to leverage their position as moderators who control the social forum to spin their actions as something different (note memorydealers is Roger Ver). For all his tears for the children killed in wars, it seems that what cryptoanarchists such as u/memorydealers want is to delist/shut down governments and they will go to any efforts such as censorship to make sure that it is their implementation of bitcoin that will do that. Are we really going to have a better world with people easier able to hide transactions/launder money? Because of this power vacuum there also exists a number of different development groups but what is emerging now is that they are struggling for money to fund their development. The main engineering is done by self professed benevolent dictator Amaury Sechet (deadalnix) who in leaked telegram screen caps appears to be losing it as funding for development has dried up and money raised in an anarchist fashion wasn't compliant with laws around fundraising sources and FVNI (development society that manages BCH development and these donations) is run by known scammer David R Allen. David was founder of 2014 Israeli ICO Getgems (GEMZ) that scammed investors out of more than 2500 Bitcoins. The SV supported sky-lark who released this information has since deleted all their accounts but other users have claimed that sky-lark was sent personal details about themselves and pictures of their loved ones and subsequently deleted all their social media accounts afterwards. There are other shifty behaviours like hiring Japanese influencers to shill their coin, recruiting a Hayden Otto that up until 2018 was shilling Pascal Coin to become a major ambassador for BCH in the Australian city of Townsville. Townsville was claimed to be BCH city hosting a BCH conference there and claiming loads of adoption, but at the conference itself their idea of demonstrating adoption was handing a Point of Sale device to the bar to accept bitcoin payments but Otto actually just putting his credit card behind the bar to settle and he would keep the BCH that everyone paid. In the lead up to the conference the second top moderator of btc was added to the moderators of townsville to shill their coin but has ended up with the townsville subreddit wanting to ban all bitcoin talk from the subreddit. Many of the BCH developers are now infighting as funding dries up and they find themselves floundering with no vision of how to achieve scale or get actual real world adoption. Amaury has recently accused Peter Rizun of propagandising, told multiple users in the telegram to fuck off and from all accounts appears to be a malignant narcissist incapable of maintaining any kind of healthy relationship with people he is supposed to be working with. Peter Rizun has begun lurking in bitcoincashSV and recognising some of the ideas coming from BSV as having merit while Roger has started to distance himself from the creation of BCH. Interestingly at a point early in the BCH history Roger believed Dr Craig Wright was Satoshi, but once CSW wouldn't go along with their planned road map and revealed the fact he had patents on blockchain technology and wanted to go down a path that worked with Law, Roger retracted that statement and said he was tricked by Craig. He joined in on the faketoshi campaign and has been attempted to be sued by Dr Wright for libel in the UK to which Roger refused to engage citing grounds of jurisdiction. Ironically this avoidance of Roger to meet Dr Wright in court to defend his claims can be seen as the very argument against justice being served by private courts under an anarchocapitalist paradigm with essentially someone with resources simply being able to either flee a private court's jurisdiction or engage a team of lawyers that can bury any chances of an everyday person being able to get justice. There is much more going on with the BCH drama that can be explained in a single post but it is clear that some of the major personalities in the project are very much interested in having their ideals projected on to the technical implementation of the bitcoin protocol and have no qualms spouting rhetoric around the anti-censorship qualities of bitcoin/BCH while at the same time employing significant censorship on their social media forums to control what people are exposed to and getting rid of anyone who challenges their vision. I posit that were this coin to become a success, these "benevolent dictators" as they put it would love their new found positions of wealth/dominance yet if their behaviour to get there is anything to go by, would demonstrate the same power tripping practices of censorship, weasel acts, misleading people about adoption statistics and curating of the narrative. When the hashrate from Rogers bitcoin.com minging operation on BCH dropped dramatically and a lot of empty blocks were being mined, his employer and 2IC moderator u/BitcoinXio (who stepped in to replace roger as CEO) was in the sub informing everyone it was simply variance that was the reason when only a few days later it was revealed that they had reduced their hash power significantly. This is not appropriate behaviour for one of the primary enterprises engaged in stewarding BCH and encouraging adoption nor is the inability to be accountable for such dishonest practices as well. It seems bitcoin.com treats btc as their own personal spam page where Roger can ask for donations despite it being against the sub rules and spin/ban any challenge to the narrative they seek to create. Let's see how the censorship goes as I post this around a few of the same places as the last piece. Stay tuned for the next write up where I take a deep dive in to the coin that everyone doesn't want you to know about.
/r/ethtrader quickstart guide - Acronyms, Jargon, and Personalities.
Hi there new ETH investor and/or new /ethtrader community member! Glad to have you aboard. We are a pretty lively bunch around here; inside jokes, memes, and jargon run rampant. I figured I would create a sort of glossary to help you figure out what the actual fuck we are talking about. Acronyms (thanks decronym) BGD: Big green dildo, as in a big green candlestick on the price chart. BTFD: Buy the fucking dip. ATH: All time high, the highest price of a thing ever, 1400ish for ETH. FOMO: Fear Of Missing Out, the urge to jump on the bandwagon when prices rise. DeFi: Decentralized Finance, MakerDAO and Dharma and stuff. Loans basically. CDP: Collateralized debt position. A DeFi thing. FUD: FeaUncertainty/Doubt, negative sentiments spread in order to drive down prices. MEW: My Ether Wallet, a website to make and interact with wallets. TA: Technical analysis, predicting the future of the price based on the past. 2FA: 2 factor authentication, its a security thing, a second password of sorts. ERC20: The standard for tokens built on ETH. POS: Not piece of shit, or point of sale. Proof of stake, the new consensus mechanism coming to ETH soon™. ICO: Initial coin offering, the birth of a new crypto, usually an ERC20. Like an IPO. IEO: Initial exchange offering, like an ICO, but typically a bit more scammy. EZPZ: e_z_p_z_, more on him later... BAT: Not the animal, Basic Attention Token OMG: Not oh my god, well sometimes oh my god, but mostly OmiseGo. Pronounced OH-ME-SAY GO btw. MKR: MakerDAO. REP: There is too many tokens to list here, just google it you will figure it out. DYOR: Do your own research. People want to steal your money. Make sure you know what you are buying. LN: A silly bitcoin thing. GDAX: The old name for Coinbase Pro. Jargon Bull: Confident the price will go up. Confidant: misspelling of confident from e_z_p_z_. More on him later... Bear: Confident the price will go down. Cuecomber: Cucumber, another EZPZ classic. Can be used as in cool as a cucumber, or as in BGD (see? now you know what BGD means, damn this guide is helpful.) The ratio: The trading pair ETH:BTC. The flippening: The ETH marketcap being bigger than the BTC marketcap. Coming soon™ . Soon™: The release date for everything crypto related. Donuts: Like reddit karma but /ethtrader specific, and infinitely more valuable. Legend has it that if you get 10 million donuts Vitalik sends you 10 ETH for every 1 ETH you send him. The name comes from cyounessi's post here. Moon: The price where you can buy a lambo. Mooning: The price increasing rapidly. Maybe exposed butts depending on how you choose to spend your money. Moonboy: A hopelessly optimistic/greedy person. $13: The price was stuck here for a long time. Dark days for /ethtrader. $420: The top of the bull market before last. Also weed dude hehehe. $300: The price was stuck here for what seemed like forever. Oh how easy we had it back then... $324: EZPZ's number. More on him later... $80: The bottom of the previous bear market. We will definitely never see this price again. HODL: Hold. From here. SODL: Sold, same as above. BUIDL: Build, you get the pattern. Golden cross: Moving averages of prices crossing. A TA thing. FIAT: Not the car. Fiat Money. USD, euros, pounds and so on. Sharding: An ETH scaling method. Don't make sharting jokes, they anger Vitalik. Ramen: The meal of choice when the price goes down. Pamp: Pump Bogdanoff: This. Just... Don't ask... Weeks not months: In reference to Joe Lubin's prediction for ETH futures coming out. It has been 75 weeks since he said this. The Winklevii: Founders of Gemini Exchange, the facebook guys. Updoot the diddly: Or anything with that vague collection of letters, Upvote the daily discussion. JT's fire pit: jtnichol posts pictures of food he is cooking in his backyard fire pit. Those posts make you hungry. The DAO: Tumultuous times in ethereum history to say the least.Further reading here.) Personalities vbuterin: The founder of Ethereum. We really really like him. Joe Lubin: Co-founder of Ethereum, founder of ConsenSys. Memes aside. We like him. carlslarson: Creator of /ethtrader. Overall good guy. jtnichol: A mod of /ethtrader. Overall sweetheart. The rest of the mods: Too many to list. It's a great group of people. They won't give you any trouble if you aren't being a dick. dcinvestor: DC is a smart guy with good opinions. We really like him. E_Z_P_Z_ the undisputed meme champion. A genuine crazy person. Made a bad sell on the way up, and wrote lengthy posts about how ETH was going back to $324 multiple times a day for months, often times with terrible spelling and grammar. When ETH did hit 324 he became something like a local hero. He is the heel of /ethtrader and we all love to hate him. lamboshinakaghini: A fool, not to be trusted. scienceguy9489: He used to regularly post TA. Sometimes he was right, sometimes he was wrong. The crucial thing was that he was memeable. He started to get a bit of an ego going, and was deleting his posts that were wrong, and keeping the correct ones. He recently made a return to /ethtrader and made a post that ETH was going to moon on a certain day and it ended up not being correct, which was just fuel on the meme fire. He goes by etherdamus now and runs a private TA group which has a fee to join. singlestateserenity: He posts a haiku in the daily every day until we flippen bitcoin. Reading a nice haiku is a pleasant way to start your morning. Everyone else: Well you will see them around and catch the vibe. There are just too many lovable and hateable people to list.
I have a pretty crazy theory that I want to share but hopefully I won't break the record for downvotes in the process. I have been thinking for a while that something seems suspicious about the way the market has been moving lately. Isn't it strange how most of the coins pumping are all "cheap" as in they are less than $10 per coin? Isn’t it strange how the crypto market cap grew by $58 billion today, but Bitcoin’s market cap did not change at all? Then I had a realization. What if everyone is being played by a greater power. If you don’t like conspiracy theories stop reading now. Everyone has been justifying the altcoin surges as Bitcoin taking a rest and dumb money chasing “cheap coins”, but what if it is actually institutional investors using alt coins in order to accumulate Bitcoin. It makes a lot of sense. If you look at the dates the surges started
XRP - December 8
XLM - November 27
IOTA - November 6
ADA - November 27
XEM - December 8
The futures trading press release went out on December 1, but what if some people knew that it would be approved ahead of time? If you are an investor with deep pockets you have a problem. You want to be able to bet on Bitcoin’s future price, but you don’t own enough Bitcoin to be able to manipulate the market (it is much easier to gamble when you control the outcome). You need a way to accumulate. Articles start to hit the press about how a small group of whales control a huge amount of the supply of Bitcoin and that makes it dangerous, etc. Big players are trying to convince people that Bitcoin is not a safe investment. Lots of bubble talk spreads. Jim Cramer says you are better off going to Vegas than buying Bitcoin. It doesn‘t scare the public away. These investors are usually the ones who get first stab at new assets. They get to invest early in companies, they get first stab at IPO shares when a company goes public, but with Bitcoin they are late to the party. How are they going to accumulate? They aren’t stupid. They realize that driving the price of Bitcoin down too much to buy cheaper will scare people away from the market, and there is a limited amount of downside (it can only go as low as $0), but there is an infinite amount of upside. They also don’t own enough Bitcoin to crash the market that far. So what do they do? The answer is: find alt coins that are “cheap”. They know that if someone has to choose between a $15,000 dollar coin and a $1 coin they will choose the $1 coin every time. It is a psychological thing. Everyone just looks at the price and believes that $1 coin can also go to $15,000 one day. So if institutional money starts to buy up huge amounts of these “cheap coins” and gets the general public on board, they can then accumulate huge amounts of Bitcoin without the Bitcoin price changing at all because alt coins trade against Bitcoin! If you want to quadruple the amount of Bitcoin you have, it is much easier to pump up a smaller coin and sell it, than it is to drive down the Bitcoin price 4x to accumulate more for the same amount of USD. Take a look at some of the headlines lately. I suspect the press releases are also coordinated:
RIPPLE to become the new BITCOIN? Surge in new cryptocurrency as banks FAVOUR it
Bitcoin latest: Ripple’s XRP is best-performing cryptocurrency with 380-fold increase in 2017
Bitcoin price WARNING: The cryptocurrency will burn out in SPECTACULAR CRASH
Bitcoin is Akin to Gambling, Causing Egypt to Ban It
In addition to these alt coin surges, every time Bitcoin looks like it is going to break out a new sell wall appears and some market selling into the buys begins to drive the price back down. To me this is a very well executed effort to hold down Bitcoin’s price while accumulating more by pumping alts. I noticed earlier today a $1 million buy wall on XLM that was moving up as the price increased. Is that how a normal person would buy up XLM? It is possible, but I doubt it. I know it seems wild, but if this theory is correct then it means at some point there will be a pretty fantastic dump with alt coins and a giant surge for Bitcoin. Of course, I could also just be thinking crazy thoughts. Also on steemit: https://steemit.com/bitcoin/@ccampbell/bitcoin-manipulation-theory
Blockchain Taps Blackrock and Goldman Sachs Vet as Its General Counsel
The London-based cryptocurrency firm Blockchain announced on Tuesday it has hired Howard Surloff, a former senior executive investment at firm Blackrock, to be its general counsel. The move comes as Blockchain, best known for its wallet software, is expanding into the crypto exchange space, and is navigating ongoing regulatory uncertainty hanging over the larger cryptocurrency industry. In an interview with Fortune, Surloff said he decided to leave the traditional banking world because he was looking to work in a startup environment—something he has experienced in the past overseeing new divisions at Blackrock and, prior to that, at Goldman Sachs. “I hated wearing suits and I don’t have to do that here,” said Surloff. “I wanted something smaller, entrepreneurial, and intellectually challenging.” At Blockchain, Surloff will work alongside Marco Santori, a prominent cryptocurrency attorney, who is staying on as the company’s President and Chief Legal Officer. Surloff says he is deeply familiar with blockchain technology but is still learning the nuances of the legal issues surrounding cryptocurrency. He said he was not prepared to comment on why Blockchain did not join a consortium of crypto exchanges that on Monday announced a rating system to evaluate whether digital tokens are securities. The legal status of digital tokens is a touchy subject for the crypto industry. The SEC has repeatedly signaled that all cryptocurrencies aside from Bitcoin and Ethereum are likely securities that can’t be sold to the general public. On Monday, the agency announced a $24 million fine against Block One, which undertook the largest ever token offering, raising $4 billion in 2017 for a token called EOS. Surloff is not the first attorney from the traditional finance world to take on a senior role at a cryptocurrency firm. Others include Brian Brooks, who left his position as general counsel at mortgage giant Fannie Mae in 2018 to take the top legal job at Coinbase.
https://preview.redd.it/20ilxe7h6sf31.jpg?width=672&format=pjpg&auto=webp&s=62b210ed3a0c117152feb62a6d7f798f1840ae5e ICO stands for “Initial Coin Offering”. In a nutshell, ICO is a process to raise fund for a specific project in terms of cryptocurrency, such as Ethereum or Bitcoin, in return for its tokens that can be used in its specific services or applications. Similar to initial public offering (IPO), instead of money in terms of fiat currencies e.g. U.S. Dollars is being raised, cryptocurrency is raised to support the project for ICO. In return, a certain number of tokens that is built on its specific application blockchain technology will be allocated to the contributors instead of shares. These tokens can be traded on some private exchanges. Alternatively, some may describe ICO as an alternative mean of crowdfunding to support blockchain-related projects by means of token sale, of which the tokens can be applied to their services and applications.
How Does ICO Work?
From a creator’s perspective, a service or application is to be built based on blockchain technology with protocol, set of rules and white paper being established. Afterwards, the creators will bring forward the white paper, which will illustrate the details of the project e.g. project idea and mechanism, implementation schedule, capital required etc; and arrange token pre-sale, sale, marketing and listing through various communication means and private exchanges. ICO will be opened for a fixed amount of token sales within a certain period, which usually varies from a few weeks to a month. Some may open for various rounds of token sales with limited amount of token to be sold during each phrase. Furthermore, some ICO may offer pre-sale for privileged or selected investors at a discount before the actual sales date. In general, the token issuers will be transparent regarding the token mechanism and token allocation, which will usually state in the white paper.
How Can I Participate?
1. Acquire Bitcoin or Ethereum through Registration with a Cryptocurrency Online Exchange
To participate in ICO or token sales, you need to obtain Bitcoin or Ether, which are more commonly accepted for ICO, as ICO or token sales usually will not accept fiat currencies like US dollars. Since most of the project idea and application of the ICO are leverage on the Ethereumplatform, hence Ether may be more popularly acceptable in general while Bitcoin or even some other altcoin can still be acceptable depending of different ICOs. If you do not own any cryptocurrency, you can consider registering an account with an online cryptocurrency exchange, and then purchasing Bitcoin or Ether through the online exchange. It usually takes a few days, which varies from different online exchanges, for a normal person to register with the online exchange service providers because of the Know-your-customer (KYC) and Anti-money Laundering (AML) regulations. Due to KYC and AML regulations, you are usually required to provide your personal particulars e.g. name, date of birth etc., official identity proof e.g. passport copy, and address proof to open an account with the online exchanges, which they will then process and validate your information. After you successfully registered an account with the online exchanges, you can purchase for Bitcoin, Ether, or any other available cryptocurrencies with your USD, EUR etc. as transferred to the online exchange. The cryptocurrencies that you purchased will be sent directly to your online wallet of the online exchange that you registered. As you will rely on the online exchanges to keep your cryptocurrencies for you, it may be risky to store your cryptocurrencies with them, of which you may lose your cryptocurrency, due to counter-party risk such as the online exchange may collapse or being attacked or hacked by others. Therefore, it may be safer to store your cryptocurrencies in a more secure software or hardware blockchain wallet that is under your control.
2. Establish your Cryptocurrency Wallet
Since most of the ICO or token sales are held on Ethereum platform, it is better to have an Ethereum-based wallet. Do note that not all blockchain wallets are suitable or compatible for ICO as some may only support Bitcoin storage but not Ethereum-based cryptocurrency. Some popular desktop and web-based wallet are MetaMask and MyEtherwallet respectively. MetaMask looks like a browser that allows you to access the Ethereum network, which does not only allow you to store and transfer your cryptocurrencies, but also allow you to access applications that leverages on decentralized Ethereum network. MyEtherWallet is slightly different from traditional web-based wallets, which does not hold your private keys. Therefore, the wallet owner will have the control of the Ethereum’s private key. It is an open-source wallet with inbuilt blockchain and ethereum facility. The wallet can also connect with other hardware wallets e.g. Ledger Nano S or Trezor, which you can access to your funds in these hardware wallets via MyEtherwallet browser.
3. Cryptocurrencies Transferred from Online Exchange to your Cryptocurrency Wallet
Most of the online exchange may not offer the access to the new token as offered by the ICO, therefore, if you send Bitcoin or Ether to the ICO address, you may not be able to receive the new tokens. As a result, you need to transfer the cryptocurrency bought via the online exchange to your Ethereum-based wallet that support the new token of the ICO. Instead of storing large amount of funds in these desktop or web-based wallets as mentioned above, you can simply use it for ICO purpose such as fund transfer or purchase of new tokens. It may be more secure to store your cryptocurrencies in a hardware wallet or paper wallet instead as compare to desktop or web-based wallets. Some successful ICOs
4. Registered for ICO Whitelist
Some ICOs to require participants to register in their whitelist before the token sales launch date, which has become a common trend. If you do not enrol in the whitelist, you cannot participate in the token sales afterwards. Normally, only successful whitelist participants can participate in it. In general, there may be some criteria for you to be able to participate in the whitelist and hence token sales, for instance, some may exclude participants from specific jurisdiction such as China, US etc. depending on the practice of each ICO. To apply, each participant may need to provide some personal information, which usually includes name, email, Ether wallet address etc., and some may also require passport copy for KYC purpose. Besides, you may also need to provide the target number of tokens that they wish to purchase during token sales. Generally, there is a cap for the number of tokens that each participant can purchase the participants may not be able to purchase more than the allocated amount.
5. Points to Note before Token Sales
After you have successfully registered in the ICO whitelist, you can participate in the ICO by purchasing its new tokens. Before anyone who wish to proceed with the token sales, you should read carefully the general terms of the ICO including but not limited to the details of the whitepaper, the token mechanism and the token purchase agreement. Besides, there are usually step-by-step guidelines to advise you on how to purchase the ICO tokens as provided by the ICO initiator. To learn more about the latest news about the ICO and stay up-to-date, you can join their social media channels such as Telegram, Slack etc. As mentioned earlier, there is a limited timeframe for ICO to be opened for token sales, which the ICO will either state clearly the specific time or block numbers. You should ensure that you are synchronising the same time-zone when a specific time is given. For specific block numbers being provided, you can apply Ethereum block explorer to check the block numbers.
6. Purchase ICO Tokens
If you decided to proceed with the token sales, you need to send Ether from your wallet to the address as stated by the ICO team once the token sale begins. In parallel, you are required to pay “gas” for the “transaction”, hence you will have to set a gas limit in your wallet. Before we move on, what is “Gas”? In a nutshell, when you transfer cryptocurrencies, engage in a Ethereum-based smart contractor do anything on the ethereum network, you need to pay transaction fees. The payment will be calculated in terms of “Gas” which is to be paid in terms of Ether. Since blockchain is a decentralized technology, it requires miners to validate and execute each transaction that you made through the Ethereum network. Therefore, you need to pay the transaction fee or computation cost to these miners so that they could validate and execute your transactions successfully. After your transaction to transfer Ether is successfully validated, you may come across the several common scenarios regarding your receipt of tokens depending the mechanism of each ICO. For example:
You may receive your tokens a few days after your transactions
You may receive your tokens after the end of the token sales
You may need to claim your tokens manually after the token sales
Extra Points to Note:
After you obtain the new ICO tokens, it may be better for you to transfer to a more secure wallet such as hardware or paper wallet
Be careful that the ICO wallet address as stated in the ICO website may be fake. This is because some hackers may hack the ICO websites and replace their own wallet address with the real ICO address.
Original Blog Post: https://icoinsider.tech/what-is-ico/ Disclaimer:This is neither a legal nor an investment advice. It does not represent any parties, including but not limited to previous and existing employers, partners etc, viewpoint and opinion. Moreover, anything written in this article is purely personal view and should not be constructed as investment advice or recommendation to participate in ICO.
I am re-posting this here to create a backup, in case the other forum goes dark
An idea to save ASM: A path forward
📷 This is long. (Part 1 is detailing the problems, Part 2 is ideas for the solution) (please keep in mind I may edit this, as I may not have time to completely finish it in one sitting) An Idea to Save ASM : A Path Forward Greetings ASM investors. I know that these are dark times. Lots of negativity is present, and people are down on this company and down on the team, and down on Chris. To be clear, there is pretty good reason be negative and down at the moment. Your money is locked up, there is zero liquidity, you cannot withdraw, I don't think you can make deposits, there is some trouble with pay pal and other vendors who are needed to buy into the market, the stock is still worth nothing, and trade activity is quite low. In addition, there is only more trouble lying ahead, as we have seen with the disastrous results of MLB leaving the IPO phase. The other sports (if anyone even buys them) will have to leave the IPO phase as well...and then the same thing will happen to them..zero activity. ASM's fundamental way of generating revenue is activity. We need trades. The current forces in the market at present are making it such that it discourages trades and makes trading less desirable and more difficult. Why would we ever do this? what we need to do is create a situation where trading is easy, and traders are more active. The other elephant in the room is money. It doesn't appear ASM has the money in secure accounts to pay people who want to close their accounts or cash out etc...The big sales pitch was that "once ASM takes off" the trade activity will go up, and the accounts will be funded, and we would be able to 1) cash out and also 2) the company stock would then be worth something more than zero. This has not happened. The big pitch was that regulation must happen first , and then we can really grow our user base and get more activity. This is backwards. We need to grow the user base FIRST. The only way to do that is by correcting the failed market and making it functional and active. I have some ideas that I think would work, or at the very least be a TRY to fix this company. If you agree that activity and trading MUST be the number one focus of the market please read on. If you do not agree that activity and trade volume should be our number one priority , my guess is you don't fully understand how ASM gets it's revenue...but if you do disagree, please make a post as to why this should not be the single most important goal (increasing trade volume). Part 1: Current Problems that have led to a Failed Market
Too much margin (with nothing backing it)
Margin that has no expiration
Margin that bears no interest
No mechanism to pay off margin
"No reason" to ever pay off margin (short term thinking)
Lack of trade volume
professionalism / politcs
I will go through each item one at a time. PLEASE , if you would like to discuss an issue refer to the number in your post and I can make edits or add items..I am sure I have missed some things, but my intention is to add things as people think of them and keep this as a reference in case Chris or any of the ASM folks would like to look at it.
This one is possible the biggest issue of all. It is one that most people haven't directly talked about but I believe it has caused us many problems. For example StartEngine or any other investor or group is going to ask "where is all of the money" the very first question they ask. If you get "bonus margin" and then make $10,000 with it....of profit..where is that money? Where is the profit? In my eyes it is a huge red flag that there isnt an account with the funds in it. This simply has to change. When someone makes a deposit they need to feel their funds are secure. When someone wants to close out an account, they need to be able to. If you cant fund the account, then DONT GIVE AWAY BONUS MARGIN. If we do some type of market reset, we need to keep the account 100% funded and we need to NEVER freeze people's accounts..we need to allow them to cash out and leave when they want. If giving bonus margin makes this too hard, then do not give even one cent of margin until such time as the ASM fund has enough money in it to pay everyone out. Period. It is unacceptable to have the account underfunded. If the market cap of the 'real' market is 100M and 98M is margin...where is the 2M of 'real' money? It needed to be there. We cant continue this. 2) Too much margin There is too much margin in the market. This leads to all of the other problems and is a spiraling death cycle. This ios an existential threat to ASM. We can't pay out people who want to cash out. That means there was too much margin. The prices are inflated, and 40$ for Dodgers or even 15$ for the Rams is too much. NFL hasnt even left the IPO stage yet, so when it does the ROI will drop to the floor. The prices are artificial....the margin has pumped up the market because you cant take your money out and there is no 'penalty' for keeping margin....so you get an influx of money with no downward pressure to balance it. A market cannot function like this. ASM is proof of this, as we watch the pilot market fail. There is simply too much margin in the system. I am not sure but I believe the pilot market has a cap of something like $100M and of that, like $98M is margin. WIth nothing backing it. No one is going to be able to get that regulated. A margin , in the simplest terms is a LOAN. If you don't have the money, Chris, YOU CANT LOAN IT OUT. Period. Stop loaning people margin money that we do not have. 3) No expiration on margin Margin is a loan. First of all loans have terms...We should have terms if we are going to loan people margin. As I said clearly in #2, we shouldnt even loan people money unless we have the money to loan them....thats simple...but #3 is all about terms. We can't loan people money with no expiration date...that just lasts forever. That leads to a situation as described in #2...TOO MUCH MARGIN. If the margin never goes away, and you keep giving more out, you end up where we are. In the future, we need to only loan margin that we have funded, and also have terms on it like expiration or other terms so that we do not build up a market with way too much margin and not enough real money. 4) No interest on margin This could go in with #3 but again, margin terms. We are getting right now a one time 1% 'fee' for margin. So if you give $100 , you get 10k in margin. That is 1% in case you don;t have a calculator. Not 1% a year. Not 1% a month. A flat 1% one time fee. That's not enough for the risk. Obviously. we can't loan people margin we don't have. We cant let them have it forever, at no cost. And if we are going to risk loaning people margin, we can't do it for a 1% one time fee. It should be a reasonable interest rate with some reasonable pay back terms. Otherwise, if we don't we lead to unfunded accounts and too much margin. All of these problems feed into each other. 5) We do not have a way for people to pay back their margin After years, there's still no button to pay back the margin or check your current margin balance. This is unacceptable as it is obviously in EVERYONE'S best interest to remove margin from the system so there isn't too much. Why on earth we didn't have this in there from the start is totally beyond me. But this needs to happen yesterday. Without a way to , you know, pay off margin....we can't correct the failed market/ 6) No 'reason' to pay off margin This is touched on in #3 and #4 but right now , on the surface there isn't a 'reason' anyone thinks they need to pay off their margin. But look deeper. The market is failing, the company is failing. Thats a pretty good reason to pay off margin...but guess what? Most people won;t pay it off even if they know it is in the best interest of the company because there is no external force motivating them to pay it off. I would have paid my margin off already of there was a method to do it. Some other people would as well, for sure. But many people won't. We have to make terms forcing people to pay it off, or it won't happen. #3 and #4 are pretty good reasons, and probably enough motivation for people to pay it off. So, if we are able to reset the market, we need to have some terms that force people to pay their margin off. 7) Lack of trade volume All of these previous problems lead to only one thing. Less trading. Sure, there is an initial flurry of trades when someone buys margin, because they have to spend the margin but then what? Think about the percentages. Every time someone buys margin , and puts money in the market...the sports prices go higher. You are pricing out EVERY customer who doesn't buy margin. people who buy margin should be a vast MINORITY of the investors. We have this flipped around backwards. We need people to be able to come in on a saturday and buy some shares of their favorite football team, and then cash back out whenever they want, maybe even monday morning. We have to have easy payment methods for people. We have to have an easy Android phone app..we must make it as easy as possible for people to get in and out of the market. We have to have money in a bank account to pay people when they want to cash out. I put this toward the end , but the #1 most important goal we should have is to correct this problem. All decisions we make should be based on increasing activity level and trade volume (long term). Period. 8) Technical issues I'm not going to comment too much on this but sports share prices not updating, Chris' decision to delete the forum, lack progress / updates to the android app & website etc..are all issues. Maybe not as important as the other ones, but should be mentioned out of completeness. 9) Professionalism / company branding / political & irrelevant rants I don't think our CEO should be debating politics on LinkedIN or on our own forums. Period. The rants make him look unstable or obsessed , and possibly turn off 50% of our potential customers or investors. Why would we shut down our forums but then keep rambling about politics and bitcoin on them? Chris just needs to keep his mouth shut about current events and politics and focus on ASM. No one cares what his opnion is about Trump. This country is divided enough...let ASM and Sports be something that unites people. Part 2: Solution Ok I tried to lay out the problems as I see them, I am running out of time at my desk..but I think it is really important to lay out what I think is maybe not THE only solution but I honestly think something like this will have to be what the solution will look like....at least parts of it. If youre still with me here...and you agree with most of the problems I have laid out above....then kudos to you. I didnt intend this to be so long but here we are. If you have read what I wrote, you will notice that unfunded accounts and too much margin are pretty important to me. We simply have to correct this...and I started thinking about how to do that a long time ago. Its probably not going to come as a surprise that I think a pilot market reset is the only/best way to do this. Many people have been talking about this for a while, so let me repeat that: A pilot market reset is the way forward. We have to admit that the pilot market is a failure, and only then can we take the next logical step of trying to do a fair and full reset This by itself isnt my "new" idea, but I have been struggling to think of exactly what that would look like, and I have a rough sketch or road map, that I would like to present. It is by no means complete..and we will all need to work on this together if we want ASM to survive. Here is my 'roadmap' to saving ASM: Just to be very clear, this will take a while...It took two years to mess it up this bad, its not going to be an overnight fix to clear all of this margin off the books...BUT the faster we do this, the faster ASM can get some growth in traders/trading and get some revenue coming in. Roadmap To Saving ASM - A fair and full market reset
Stop selling margin immediately
Create a mechanism to pay off existing margin
Give a firm deadline to pay off margin, by selling shares of sports teams or making trades / dividends
Once the deadline is passed, come up with a method to clear the margin from accounts who failed to meet the deadline.****
#4 above is the most difficult part of this, there is another way I am working on. yes this will be hard and people won't like it. I will post more later on #4 and 5
Once everyone's margin account is at zero, announce the date of the Market reset to give people time to make some last trades or collect more shares of teams they want by trading.
As the trade deadline date approaches, all traders must fully spend all of the 'cash' in their accounts by buying shares of teams.
At the reset deadline, freeze all trading.
Completely reset the 4 markets (mlb, NFL, NBA, NHL). This means placing all shares back in their original IPO state.
Reset the prices (value) of the team stocks to either $0.00 or $0.01 (they are indeed worthless, currently)
Issue , share for share, any holdings that an investor had back to him with the value of $0.00 or $0.01....for example...If Golman had 100 shares in every team, issue him 100 shares of every team at the new value of a penny or 0.00.
Never again issue any margin, unless we have the funds to back it and the mechanism in place to collect interest and have terms that benefit ASM in the long run.
From this new moment onward, never again lock accounts out from being able to cash out if they desire.
Re-Open the forums and delete all of the political garbage. People need a place to talk and it should be our own forum.
Promise and be held accountable that any deposit made is as secure as any other investment, and keep the money in an account that is SEPARATE from ASM's share...and will always be there to let people withdraw as needed.
Come up with other means of revenue / income other than selling margin ** difficult ** Ideas needed
Let people buy in with real money, immediately after the reset is complete...and begin trading, and let them cash out if they want. Let the free market WORK god dammit. immediately.
Chris should p;romise to keep personal / political / divisive ramblings off of the forums..perhaps NO ONE should be allowed to talk religion or politics etc..on our new forums.
Stop talking about making a 'new' market apart from the 'pilot market with roller hockey. Just admit the pilot market has failed and do a reset
I have run out of time, so I cannot elaborate any more today on all of this. But I am going to edit my post maybe by Thursday, and explain more in detail how this would work. This, or something like this is most likely the only way we can BOTH reset the market and still reward the current group of investors. The way I see it working, the sports shares are worth nothing right now because of all of the margin and lack of being able to cash out. So we reset the market, make the value start at $0.00, or a penny. Then, if people want to buy or sell THEY CAN, and people want to cash out they will. I can guarantee if we just let the market work , the prices will start going up again and more trades will happen. This could be huge, and marketed as a re-grand opening type of event. I don;t see many other solutions, and I have thought about it a lot. Thank you for reading this and of course comments and corrections are welcomed if I have made errors. I am sure I have made a lot of errors and I look forward to discussing this with you guys.
The Dow declined 545.91, or 2.13%, to 25,052.83, the Nasdaq lost 92.99, or 1.25%, to 7,329.06, and the S&P 500 dropped 57.31, or 2.06%, to 2,728.37. It was a frenetic day of trading action on /thewallstreet. Stocks futures were suggesting sharp opening losses but closed the pre-market trading session well off their lows. The futures action led to modest losses at the open, though the major averages eventually crossed into positive ground. Stocks gained upside momentum and appeared on their way to recouping some of yesterday's pullback, but sellers emerged in the second hour of trading and another rout was on. Stocks are suffering through their worst week since March and at least 66% of the S&P is now in correction territory or worse. At session lows, the S&P 500 was down 2.7%. Stocks were able to reclaim some losses in the final hour of trading following a Washington Post report that President Trump and Chinese leader Xi Jinping have agreed to meet at next month's G-20 summit in Argentina with hopes of resolving their trade conflict. That knee-jerk move higher was largely undone by the closing bell though. A drop in bond yields did provide some relief for stock traders, who have been cautious since yields shot to multi-year highs last week. Yields on longer-dated issues fell quite a bit more than yields on shorter-dated issues, leading to a flattening of the yield curve; the yield on the 2-yr Treasury note slipped one basis point to 2.85%, while the benchmark 10-yr yield fell nine basis points to 3.13%. That yield curve flattening weighed on lenders, which depend on the interest-rate differential between what they pay for deposits and what they make on loans. The S&P 500's financial sector lost 2.9%. The oil-sensitive energy sector was another notable underperformer, losing 3.1%, as crude prices fell to a three-week low, further retreating from multi-year highs. WTI crude fell 3.0% to $70.98/bbl. All 11 S&P 500 sectors declined on Thursday. However, the communication services and information technology sectors, which contain many of the high-growth and widely-held names that have consistently led the market higher for some time, tried to stage a rebound after dropping sharply on Wednesday. The groups were up modestly intraday, but eventually finished lower by 0.8% and 1.3%, respectively; still, that's notably better than the broader market. President Trump blamed the recent selling on the Federal Reserve, which he says has "gone crazy" with its rate hikes. When asked if he is considering firing Fed Chairman Jerome Powell, who he appointed, the president said he wouldn't, adding that he's "just disappointed." From a technical standpoint, the S&P 500 got into trouble once again on Thursday, closing below its 200-day moving average (2766) for the first time since March, after breaching its 50-day moving average the day before. The Dow Jones Industrial Average also fell below its 200-day moving average (25140) and the Nasdaq Composite and Russell 2000 stayed below theirs. Among the notable gainers was DAL, which gained 3.5% after the air line operator reported better than expected earnings for the third quarter and guided to revenue growth of about 8% in the fourth quarter. Also higher was GPRE, which rose 17.5% after it agreed to sell three ethanol plants to VLO for $328M. Among the notable losers was SQ, which dropped 11% after the payments company said CFO Sarah Friar will step down to become the chief executive officer of Nextdoor, a social network for neighborhoods founded in 2010. WBA shares fell 2% after the retail pharmacy company reported mixed quarterly results, posting better than expected earnings but lower than expected revenue. Walgreens also guided toward adjusted earnings growth of 7%-12% at constant currency rates in fiscal 2019. Financial giants JPM, C and WFC will unoffically kick off the third quarter earnings season on Friday morning. Also of note, VIX spiked once again on Thursday, jumping 11.8% to 25.57, marking its highest level since February. European markets closed sharply lower on Thursday, impacted by steep losses in U.S. stocks. The pan-European Stoxx 600 closed the session provisionally down by 1.95 percent, with financial services and oil and gas stocks leading the losses. In the Greater China region, the Hang Seng index was down by 3.88 percent in afternoon trade. Over on the mainland, the Shanghai composite fell 5.22 percent to close at 2,583.46 and the Shenzhen composite plunged 6.445 percent to end at 1,293.90.
The U.S. Dollar Index is down 0.5% at 95.07, tracking its third consecutive decline. The Dollar Index followed yesterday's retreat with continued weakness during the overnight session. Another round of selling followed the morning release of a cooler than expected CPI report for September, but the Index recovered its post-CPI loss in short order.
EUUSD: +0.52% to 1.1586
USD/CAD: -0.20% to 1.3024
GBP/USD: +0.14% to 1.3214
U.S. Treasuries ended Thursday on a higher note with longer tenors displaying relative strength. The overnight session saw continued weakness in Asian markets while equity indices across Europe also faced selling pressure. The selling in global equities was a supportive factor for the bond market, which began rallying after yesterday's cash close, receiving an initial boost after President Trump criticized the Federal Reserve's tightening policy once again. President Trump repeated his comments on Thursday afternoon, saying the Fed is "out of control." Treasuries padded their opening gains after the release of a cooler than expected CPI report for September. Midday action saw some backtracking, but longer tenors climbed to fresh highs during the late afternoon. The long bond remained at the forefront of the advance, rising to a session high after the completion of a strong $15 billion 30-yr bond reopening. The reopening drew a high yield of 3.344%, which stopped through the when-issued yield by a basis point. The strong sale followed yesterday's weak offerings of 3-yr and 10-yr debt.
2-yr: -1 bp to 2.85%
5-yr: -7 bps to 2.99%
10-yr: -9 bps to 3.13%
30-yr: -9 bps to 3.31%
Oil prices slumped to more than two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by a bigger-than-expected U.S. crude inventories build.
Energy Settlement Prices:
November Crude Oil futures fell $2.20 (-3.01%) to $70.98/barrel
November Natural Gas settled $0.06 lower (-1.83%) at $3.22/MMBtu
November RBOB Gasoline settled $0.09 lower (-4.46%) at $1.93/gallon
November Heating oil futures settled $0.06 lower (-2.5%) at $2.34/gallon
Agriculture Settlement Prices
Dec corn settled $0.07 higher at $3.69/bushel
Dec wheat settled $0.03 lower at $5.07/bushel
Nov soybeans settled $0.06 higher at $8.59/bushel
Metals settlement prices
Dec gold settled today's session up $34.20 (2.9%) at $1227.60/oz
Dec silver settled up $0.28 (0.2%) at $14.606/oz
Dec copper settled up $0.0225 (0.08%) at $2.803/lb
Crypto markets shed almost $20 billion as major coins see double-digit losses.
Bitcoin: $6,282.87 (24hr: -4.64%)
Ethereum: $196.16 (24hr: -12.89%)
Ripple: $0.40 (24hr: -13.39%)
Nasdaq Composite +6.2% YTD
S&P 500 +2.1% YTD
Dow Jones Industrial Average +1.4% YTD
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→ A Japanese Telecom Giant Wants to Use Blockchain to Store Contracts - CoinDesk Nippon Telegraph and Telephone is looking to invent a new contract agreements system based on blockchain technology. → OKEx, Malta Stock Exchange Partner to Develop Security Token Trading Platform OKEx has partnered with the Malta Stock Exchange to develop a security token trading platform headquartered on "Blockchain Island." → JPMorgan Wants to Use Blockchain to Issue ICO Tokens JPMorgan Chase is pursuing a patent for a distributed system that uses blockchain technology to issue ICO tokens. Gas Price Up, Referendum II on Hold. RSB2 token distribution ended yesterday! Because of the price volatility of Ether transactions and our desire to keep voting cost low for our community members the voting date has not yet been set. However, the market seems to be stable. We will closely monitor gas price during the weekend & the voting date will be announced as soon as possible. Ethereum Average GasPrice Chart Source: Etherscan.io Daily Performances The technicals, news flows and decent pick up in volumes all show positive signals. Slight pull backs are expected but if $6800 on BTC holds the next upside target is the $7500-$7800 levels. So far the rally seems to be led by BTC as can be seen by a large drop in ETH/BTC spread to 0.062 (levels not seen since April), except for Stellar which continues to outperform the market. It may take some time to get broader market buying but this will signal a much stronger momentum. Weekly Top 5 Price comparison - BTC. - ETH - XRP - BCH . - EOS --------------------------------------------------- https://preview.redd.it/vuftdzhz02b11.png?width=1042&format=png&auto=webp&s=d575819089b4caf72ac39dad28996a8ad4becd64 Technical Analysis -BTC BTC has now broken the Head & Shoulders neckline at $6,870 and has rapidly moved past beyond it. The target of the formation is around $7,900 so we expect to reach that level in the next days/weeks. This is very positive overall on a medium to longer term perspective, the next major hurdle is the $8,000 level, where BTCUSD will meet a downtrend that has proven difficult to surpass last time. https://preview.redd.it/6e81gfa412b11.png?width=1310&format=png&auto=webp&s=9b6393260fc0f29fcfd95fad5bf28bb6c18b42d9 -------------------------------------------
Hello! My name is Vladimir Hovanskiy. I am a Google Adwords manager at Platinum, a business facilitator of new generation, providing STO and ICO marketing services. We already created best STO blockchain platform on the market and consulted more than 700 projects. Here’s the proof 😎 Platinum.fund We are more than proud that we not only promote but also share our knowledge with the students of the UBAI. Here you can learn how to do security token offering and initial coin offering! Now I want to share some cool info on the purpose and role of tokens within the Blockchain ecosystem at the ICO stage. Initial Coin Offerings (ICOs) History Initial Coin Offerings (ICOs) are a means of fundraising for the initial capital needed to get new projects off the ground within the cryptocurrency ecosystem. More often than not, Bitcoin and Ethereum, are used to buy a quantity of project tokens. However, new projects are also being launched on alternative Blockchain platforms such as NEO or WANchain, wherein the “parent” chain’s tokens will be used to fund these ICOs. Pre-launch, ICO tokens are endorsed as functional currency in the project ecosystem. After a project’s ICO, it is available on exchanges, and then the market determines the value of those tokens. The main benefit of using the ICO funding system is that it avoids the prohibitive amount of time and expense incurred by launching a startup in the conventional method, by way of Initial Public Offering (IPO). The lengthy and costly process of ensuring regulatory compliance in different jurisdictions often makes the IPO format unfeasible for small companies. Thus, the ICO method of fundraising is far more attractive as a means of crowd funding for the project. But at the same time, an ICO is certainly riskier for the investor. It is important to note the different stages of the token sale. Token prices generally escalate the closer the token gets to its listing date. Projects often seek funding from angel investors even before the date of the private pre-sale is set, though some ICOs do go straight to pre-sale. After potential initial investment has been sought from angel investors, pre-sale begins. Usually there will be a 15–30% discount from the public sale price. The main-sale begins after the pre-sale has concluded. At that time, normal everyday crypto enthusiasts, with no connections to the team, may buy into the project at pretty close to the ground floor price. Angel investors and pre-sale investors sometimes receive quite large discounts from main sale prices, but their tokens are locked up for varying amounts of time, to prevent dumping, or selling all their tokens for a quick profit at the time of listing. Today the vast majority of ICOs make use of the Ethereum blockchain and the ERC-20 token. The very first token sale was arranged by Mastercoin, a Bitcoin fork, in July 2013. Ethereum soon followed in early 2014, raising 3700 BTC in only 12 hours (equivalent to $2.3 million at that time, and just under $35 million today). Before late 2015 there were sporadic ICOs, with Augur, NXT and Factom all successfully raising funds. 2016 was the year that the ICO format grew to truly disrupt the Venture Capital industry. There were 64 ICOs in 2016 which cumulatively raised $103 million USD. Tremendous Success & Why Real World Case Study The ICON (ICX) Initial coin offering is an example of a project that reaped the rewards of a token sale done with precision of execution and clarity of vision. The project promised to build a world-wide decentralized network that would allow Blockchains of different governances to transact with one another without a centralized authority, and with as few barriers as possible. ICX offered fair and clear tokenomics, with 1 Ether buying 2500 ICX, and with 1 ETH costing approximately 250 dollars when the ICO began on September 18th. 50% of the total amount of tokens were put up for public sale, 400,230,000 out of a total of 800,460,000, equating to a fundraising goal of 150,000 Ether. One of the core reasons for the project’s spectacular success was the incredibly distinguished background of those involved, and the foundation the project had in many years of stellar achievement. ICON was originally a project developed by “The Loop”, a joint venture between DAYLI financial group and three Korean Universities. They lead the Korea Financial Investment Blockchain Consortium, one of the largest organizations of its kind in the world, boasting members including Samsung Securities. The Loop had already implemented Blockchain solutions for high profile clients well before ICX was born, including completing a KYC/AML authentication smart contract platform for Korea Financial Investment Consortium. Real World Example of Failure & Why Case Study The risk involved in starting your own company is huge. Over 75% of startups eventually fail, according to the Harvard Business School study by Shikhar Ghosh. The study’s findings show the rate of failure for new companies is roughly 50% after 5 years, and over 75% after 10. Shikhar Ghosh identifies the following issues as the most common factors in start-up failure: -Insufficient Market Demand -Insolvency -Wrong Team -Got beat by competition -Pricing/Cost issues -Poor Product -Need for or Lack of business model -Ineffective Marketing -Disregarding Customer desires The statistics concerning rate of failure for conventional business startups pale in comparison to the number of crypto startups that fail according to Tokendata. They are one of the most rigorous ICO trackers, recording 46% of the 902 ICO crowdsale projects initiated in 2017 as failing by the time of writing. Of these 46%, 142 collapsed before the end of the funding stage, and a further 276 had either “exit scammed” (took the money and ran) or slowly faded into eventual obscurity. With no shortage of failed and abortive projects to look into, we thought it would be more helpful to look into an ICO that was mismanaged and unsuccessful in terms of its execution, rather than being fraudulent, or terminally mismanaged. Real World Example of Failure & Why §3 Tezos was designed as a “new decentralized Blockchain that governs itself by establishing a true digital commonwealth”. The project was a partnership between the husband and wife team of Kathleen and Arthur Breitman, and a Swiss foundation run by Johann Gevers. They had a novel idea of “formal verification”, a technique that mathematically proves the veracity of code governing transactions and heightens security of smart contracts. That idea was wholeheartedly endorsed by investors, resulting in $232 million USD raised in the 2017 crowdsale. Trouble arose after the Breitmans asked the head of the Swiss foundation they were in partnership with to step down. In Gever’s words, the Breitman’s were attempting “to bypass Swiss legal structure and take over control of the foundation”. The resulting 6 class action lawsuits that were spawned from the wreckage of one of the most successful ICOs of all time have yet to be fully resolved at the time of writing, though Gevers has stepped down and a new leadership team is in place. The Tezos Network has a prospective launch date of somewhere around Q3 2018. The debacle, though not terminal to the prospects of the Tezos network, provides a cautionary tale about the need for a clearly defined leadership structure and plan for the allocation of funds after an ICO. It is entirely possible that the Tezos project could have ridden the late 2017 market euphoria to sit near the top of the cryptocurrency hierarchy if boardroom strife could have been avoided. Real World Example of Failure & Why §4 Projects often also “pivot” from one focus or project to another. More often than not, teams change the project name entirely, even while retaining the same core team, to try for a successful venture one more time. One such project is Chain Trade Token (CTT) which, while technically speaking, not yet a “deadcoin”, shows all the signs of shutting down operations within a few months, and “pivoting” into a new project. The CTT project aimed to be the “first blockchain-based platform for the trading of futures and options on food and raw materials (aka commodity derivatives)”. But through a combination of a non-existent social media presence, and a distinct lack of urgency in securing listings beyond decentralized exchanges, the lofty ambitions of the top-level team were left unrealized. The team has supposedly split their operations from solely Chain Trade, to a former business endeavors, and the Nebula Decentralized Exchange. The project leaders then offered a 1-for-1 token swap which has been accepted by the vast majority of CTT holders. The ICO Process Before even researching the particular strengths and weaknesses of any specific project in which you may want to invest, it is important to know the overall processes of the ICO crowdfunding method. This will allow you to avoid any potential pitfalls if you do decide to move forward and invest money into a particular idea or project. How does an ICO happen? Stage One: Token sale details are set: This takes place usually after release of the whitepaper, and the presentation of a project to prospective investors in forums and on social media. Stage Two: Whitelisting for private sale begins: The vast majority of all ICOs have instituted KYC checks for investors which usually involve uploading a photograph of your passport or driving license along with a selfie holding the ID. Did you know? Participation in ICOs has proven to be a regulatory nightmare in some localities. Most token sales restrict contributions from investors in China and the USA entirely, though accredited investors may participate in the USA in some cases. Stage Three: Private/Pre-sale states: Typically, 10% of tokens will be offered to early investors at a 10–30% discount. These select few investors will likely have a close association with the team. But not all projects have a pre-sale round, some go straight to public sale. Stage Four: Whitelisting for Public/Main sale starts: The same format used for pre-sale investors is used for public sale investors, though it is a regular occurrence to see main sale KYC checks closed early due to overwhelming demand. An investor must then register a contribution wallet address. That is the address used to send cryptocurrency from, to buy the ICO tokens, and then also into which you will receive your purchased tokens. This wallet address must be a non-exchange wallet, like Blockchain.info bitcoin wallet, or MyEtherWallet for ERC-20. You already understand from the prior lesson that making a mistake with your wallet address may mean you lose the tokens forever as well as the BTC or ETH you used to purchase them. Copying and pasting your cryptocurrency public key into the whitelist wallet form is the next task to complete. And then, as the investor, you wait for confirmation of successful ICO registration from the team. Stage Five: Public sale starts: Commonly on a specific date, though sometimes for a specific period of time. If you are interested in participating in an ICO, it is important to make your contribution as quickly as possible, or you risk sending your ETH or BTC after the hard cap has been reached, resulting in your funds being sent back. This refund can sometimes take many days, or even weeks in times of high market activity. Did you know? In 2017 it was not unheard of to find ICOs that had originally scheduled their ICO period for many weeks, but then they met with such high demand that they could close their crowdsale in a matter of hours or even in just a few minutes! Stage Six: Tokens are allocated to successful participant investor wallets, and trading can begin on some decentralized exchanges like IDEX, or EtherDelta in the case of Ethereum based tokens. Tokens will be sent to and received by the wallet addresses from which the investor contributions were made. Stage Seven: Tokens are listed on mainstream exchanges: The tokens will then be listed on the exchanges with which the teams have negotiated listing, prior to or during the sale. It can cost huge amounts of money to list on large exchanges like Bitfinex Bittrex, Huobi or Binance, so usually smaller projects will not be listed on top 10 exchanges so quickly. As tokens are listed on more and more exchanges, their price usually rises because more and more investors are exposed to opportunities to buy that particular token. Evaluating a Blockchain Use Case Evaluating a particular use case for Blockchain technology, and thus how successful an ICO project’s ambitions might be in a particular market, is not a simple endeavor. As demonstrated in the graphic below, Blockchain technology has nearly limitless potential to be applied to a great variety of business areas, but as an ICO investor, you are looking for projects that have the potential to deliver significant long-term success. In the currently saturated ICO environment, some use cases have more potential than others. Ascertaining which use case is likely to have long term success is a key distinction. Also, we must recognize that businesses and corporate entities may be overeager to experiment with this new Blockchain technology, whether or not usage of the technology is actually advisable or profitable for their particular purpose. The main questions to ask when analyzing specific solutions proposed by the project are: What are the problems posed and the solutions offered? Does this particular area of business need a Blockchain solution? That is, is a Blockchain solution in fact superior to the current way this particular business operates? Is the use of Blockchain in this specific instance feasible and applicable? What are competitors doing about Blockchain projects in this same area? A Blockchain network provides a shared, replicated, secured, immutable and verifiable data ledger. The implication for use case analysis: Shared and replicated: participants have a copy of the ledger and many people can view it or work on it Secured: Secured through cryptography Verifiable: Business rules are associated with all interactions that occur on the network Immutable: Transactions (records) cannot be modified or deleted, therefore a verifiable audit trail is maintained by the network So, with all this considered, what should we look for with regard to a possible business use case that would be best solved using Blockchain technology? 1. Data exchange that has trust issues i.e. businesses transacting with one another. Trust must be established through a multitude of verification processes with regards to employees and products. These processes increase operational cost. Example: Digital voting. 2. Any potential business process involving data storage, or compliance and risk data that get audited. Blockchain solutions would provide the regulators a real-time view of information. Example: Supply chain solutions like VeChain or WaltonChain. The possibility of close to zero operational loss would of course be attractive to any business. 3. All kinds of asset transactions. A Blockchain network, with its tamper-proof ledger, validating traceable and trackable transactions, could save many different industries untold amounts of money. Example: Tokenization of assets e.g. Jibrel Network or Polymath Purpose of Tokens Within the cryptocurrency ecosystem, the definition and role of a token iswidely understood. They represent programmable units of currency that sit atop a particular Blockchain, and they are part of a smart contract “logic” specific to a certain application. In the business sphere, a token can be defined as a unit of value that a project or business venture creates to enable it to self-govern. And the business venture also allows token users to connect and collaborate with its business products, while facilitating the sharing of rewards to all of its stakeholders. A token can also be described in a more general sense as a type of privately issued currency. In the past it was solely within the purview of governments to issue currency and set the terms of its governance. With the advent of Blockchain technology we now have businesses and organizations offering forms of digital money over which they, not the government or central bank, have control of the terms of operations and issuance. Wide scale adoption of these mechanisms could fundamentally alter the global economy. This is like the creation of self-sustaining, mini-economies in any sector of business or life, via a specific token or currency. Fun Fact: Tokens of the particular Blockchain upon which the project is launched will usually have to be bought in order to be exchanged for ICO tokens, hence it is important for traders and investors to be aware of the schedule for upcoming ICOs. ETH is usually the token used for exchange because the majority of ICOs launch on the Ethereum Blockchain. But this is not always the case. During January 2018, two NEO token ICOs, both the Key TKY and Ontology ICOs, were being carried out, and this caused the NEO cryptocurrency to spike to its all-time high in excess of $160 USD. Since the product or project is more often than not in its embryonic stage at the time of the ICO crowdfunding process, the ICO token’s true function and purpose is in most cases yet to be realized. At the ICO stage the tokens can usually be grouped together into one of three categories. Knowing how to distinguish these categories involves determining the specific nature and function of the token around which the project is centered. The main and crucial distinction, is whether or not a token is a security, and therefore subject to securities registration requirements. ICO Stage Token Categories Howey Test: This is the test created by the US Supreme Court to ascertain whether certain transactions qualify as “investment contracts”. If they are found to fall within this classification, then under the Securities Act of 1933 and the Exchange Act of 1934, those transactions are considered “securities” and participants must adhere to registration and disclosure requirements. One of the most important and amazing considerations of the effect of Blockchain technology is that normal people with a computer science background are now empowered to make decisions and offer products and services that previously only licensed financial institutions were able to do. This is a very complex and complicated situation with serious ramifications for anyone involved. One thing to note well is that ordinary participants and actors in this arena can easily commit white-collar crime, violating serious securities laws, without even realizing it. If a token falls within the US legal definition of “Investment Contract” then you must adhere to US regulations. For that reason, many ICOs simply do not want to sell to US based investors, perhaps until all the rules and regulations are clarified. Security Tokens The broad and varying definition of the term “security” is a regulatory minefield. This has always been true for traditional financial products, and now it is especially true for the as yet unregulated cryptocurrency market. In the case of SEC V. Howey, parameters were established to determine whether or not a particular financial arrangement could be classified as a security and thus be subject to securities regulations. Cooley LLP Fintech Team Leader Marco Santori has said, an arrangement is a security if it involves “an investment of money, and a common enterprise, with the expectation of profit, primarily from the efforts of others.” Investors have the option of accessing a huge range of security tokens through ICOs. Prime examples are the gold backed DigixDao (DGD) and CProp (still in crowd funding stage). A security token is fundamentally different from the currently available ICO project tokens in that it provides a legal and enforceable ownership of a company’s profits and voice in its governance much like common stock traded on any exchange. If security tokens are the next step in the evolution of crypto-finance, real estate, stocks, venture capital, and commodities can all be tokenized. The traditional markets could be fully connected to the Blockchain. Financial assets would available to anyone in the world, not just licensed or accredited investors. That is one aspect of Fintech, the financial revolution taking place today, as Blockchain technology clashes with traditional finance. Equity Tokens One exciting application of smart contracts on the Ethereum Network is the potential for startups to distribute equity tokens through initial coin offerings. That would reduce the hurdles that an average person has to face in order to take part in the early stages of a company’s development. And, democratic governance of a project could be conducted in a transparent manner through voting on the Blockchain. As of yet, few startups have attempted to conduct equity token sales for fear of falling afoul of the Securities and Exchange Commission (SEC) in the US. But many Venture Capital insiders are bullish on the prospect of equity tokens taking a central role in the crypto finance industry, when and as the legal issues are resolved. For example, the Delaware State legislature recently passed a bill enabling companies to maintain shareholder lists on the Blockchain. That is one major step to enable Blockchain based stock trading. Lawyers also generally believe it is only a matter of time before the regulations are clarified. Did you know? Important consideration: The Sarbanes-Oxley Act of 2002 made it unfeasibly expensive for smaller companies to be listed on exchanges, causing a halving in the number of IPOs between 1996 and 2016 (7322 to 3671). In 2017 there was an almost 5-fold increase in the number of ICOs, from 43 to 210, with the 2017 volume already being eclipsed in the first 5 months of 2018. Utility Tokens However, given that this area is still a regulatory nightmare for people planning to issue security and equity tokens, many projects attempt to ensure that the tokens within their specific model fall under the definition of Utility Tokens rather than securities, so as to avoid the SEC regulations altogether. If a token is imbued with a certain functionality and use within the Blockchain infrastructure of that particular project, the token can avoid being labelled as a security, and thus render SEC regulations inapplicable. Just this week in fact, the SEC made the long-awaited and momentous decision that Ether was not a security. In the words of William Hinman, director of the Securities and Exchange Commission division of corporate finance, “Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.” This means that Ethereum, in fact, fails the Howey test, which is exactly the decision the crypto world wanted. Hinman said, “When the efforts of the third party are no longer a key factor for determining the enterprise’s success, material information asymmetries recede,” Hinman said. “The ability to identify an issuer or promoter to make the requisite disclosures becomes difficult, and less meaningful.” We will now cover various use cases that projects have been adopting up to now in order to get their tokens classified as utility tokens rather than securities. Voting Rights Some coins portray themselves as a company with tokens being held in a way that is analogous to voting shares of a stock. One coin held is equal to one vote. This form of token utility has a major flaw in that so-called whales (people with huge amounts of a particular cryptocurrency) can manipulate any poll conducted. The cryptocurrencies Aragon and Lykke are examples of projects that have written voting rights into the structure of their code. In-App Reward: Another common tactic to evade the security label has been the addition of in-app rewards to the functionality of a particular token. The Basic Attention Token (BAT) is the unit of currency for use with the project browser named “Brave”. The BAT is a unit of account for the advertisers, publishers and users of the platform. Filecoin, the cloud storage project that raised a record $257 million through their ICO, pays other people or companies for use of their spare storage space. Some of the many rights afforded to token holders in various Blockchain projects are described by the graphic below. Token Roles Function The token can be used as a mechanism through which user experience is enhanced, enabling such actions as connection with users, or joining a broader network. It may also be used as an incentive for beginning usage or for on-boarding. Examples include Dfinity and Steemit. Value Exchange: In its most basic usage, a token is a unit of value exchange within a specific app or market. This usually is made up of features that allow users to earn tokens through real work or passive work (sharing data, allowing use of storage space) and to spend them on services or internal functions within the specific market ecosystem created by that organization. Augur and KIK, amongst countless others, are projects that have implemented this functionality into their tokenomics. Toll: The token can also be used for getting onto the Blockchain infrastructure, or for powering decentralized applications run on that particular Blockchain. This ensures that users have “skin in the game”. Tolls can be derived from running smart contracts, paying a security deposit, or just usage fees. Examples include Bitcoin and Ethereum. Currency: Seeing as the particular platform or app is designed with a view towards functioning in synergy with a particular token, the token is an extremely efficient means of payment and transaction engine, resulting in frictionless transactions. This means that companies can become their own payment processors and no longer have to rely on the often unwieldy stages of conventional financial settlement involving trusted third parties in the form of banks and credit card companies. Rights: Owning a token bequests certain rights upon the holder, such as product usage, voting, access to restricted markets, and dividends (e.g.: GAS for holding NEO). Though most businesses are trying to avoid fitting the definition of a security laid out in the Howey Test, the right to real ownership of a particular asset is sometimes granted as a result of holding a token, for example DigixDAO or Tezos. Comparison to Traditional IPO and Equity Capital Raisings Despite the similarity of the acronyms and the derivation of one from the other, Initial Coin Offerings and Initial Public Offerings are very different methods of fundraising. The distinction is not limited simply to the fact that IPOs are used in conventional business, and ICOs are associated with cryptocurrency. Through ICO’s, companies in their early stages issue digital tokens on a Blockchain and those tokens act as units of value for use within the ecosystem created by the project. They have many other uses, but it is also fair to say they are analogous to shares offered in an Initial Public offering. In an IPO, shareholdings are distributed to investors through underwriters, usually investment banks. But in the case of ICO token sales, companies often do not even have an actual product to show. Often, all that there is a whitepaper, evidence of the partnerships involved and the particular social-media infrastructure they have established. IPO’s take place when a more well-established company floats shares on a stock exchange. The company would have a well-established history of success and significant reasons to expect a bright future. In the vast majority of cases, an ICO is used for a new company with no such history, just trying to get off the ground. Another important difference is the expected return in exchange for the investment. Companies engaging in IPOs may offer participants dividend paying stocks which result in various levels of return depending on the success of the company after the shares are issued. An ICO however can offer no such guaranteed return. When buying tokens in an ICO, you do so with no promise of return. An investor who holds the tokens of a particular project does so with the promise, rather than an assurance, of future success. The main benefit to investors taking part in Initial Coin Offerings, compared to Initial Public Offerings, is the need for only basic Know Your Customer checks in the case of the ICO, compared to the costly, complex and time-consuming regulatory obstacles that must be traversed in an IPO. In the case of Initial Public Offerings, a business must obtain authorization from a number of entities before the act of “going public”. Prior to an IPO, companies are not obliged to disclose so much of their internal records or accounting. It is not so complicated to make a private company in the United States. But in the run up to going public, the company must form a board of directors, make their records auditable to the relevant authorities in one or more jurisdictions, and prepare to make quarterly reports to the SEC (or equivalent). Relevant Factors to Consider in ICO process When analyzing the chances of success for a specific project, and the likelihood of a favorable return on investment in the long term, it is essential to break down the project into its constituent parts, and evaluate the strengths and weaknesses of each part individually. An effective investigation and analysis would start with the team and white paper. Consider the stage the project is at,and VC investments in the project. That would lead to a good initial idea of the actual progress thus far. Next, evaluate the social media presence and the credentials of the community that has formed around the core team. If a compelling case is made by the team, (e.g.: via an in-depth dive into the use case), and the tokenomics, distribution schedule, potential competitors, as well as the team’s awareness of any future business or regulatory concerns all check out; then the ICO might present a good opportunity for investment. In the following slides we tackle each of these considerations in order so you will be able to evaluate an ICO’s worth and assign a grade for the success of each project. Relevant Factors to Consider in ICO process The Team First and most important, we need evaluate the background and experience of the team, the people involved in the project. Well-established developers, for example, will likely have LinkedIn profiles demonstrating their previous endeavors and occupations, from which we can judge their suitability to the project and the likelihood of the team’s success. The LinkedIn profile is a point of reference for professional accomplishments and official positions. But we can also learn more about a person from their personal accounts on Twitter, Facebook, and Medium etc. That is also a good way to follow along with the progress of the project. By investigating team members through as many means as possible, you will know how long they have been involved in cryptocurrency. If they have been around and active for a long time, they are that much more likely to be knowledgeable and capable of making better quality decisions in this business. It goes without saying that it is a huge red flag if it is too difficult to find information about the team members online, and worse still if the team members are anonymous. Relevant Factors to Consider in ICO process A good Whitepaper gives a detailed description of the project, the problems the team is going to solve, the timeframe projected, and methods to be used in the implementation of their ideas. If, in answering the question about what the project actually does, it seems the team is presenting ideas that are too complicated or advanced to understand, then you simply should not invest until you are satisfied you have been given the requisite level of insight to understand the concepts described. It is always possible that the whitepaper is nothing more than a salad of buzzwords and technical language intended to give the impression of competence while really doing nothing but obfuscate the truth. The whitepaper should clearly and concisely present the problems and the solutions needed. The whitepaper must give a solid and coherent answer as to who needs this project and why. Also, if the team have put no effort into explaining why a Blockchain solution is needed for this particular problem, or why such a solution is superior to its “real-world” equivalent, it is likely they are only in it for the money. We have more to say about red-flags later. While 2016 raised a comparatively small amount in comparison to the proceeding years, there were a few specific projects that raised significant amounts of capital. These are respectable amounts of money, even by today’s standards, and especially impressive when contrasted with the immaturity of the ICO market at the time, and relative to amounts raised in traditional IPOs. Waves ($16.4mill), Iconomi ($10.6mill) and Golem ($8.6mill) were the three largest fundraisings of the year. 2017 was the year of the ICO whales. Hdac ($258mill), Filecoin ($257mill), EOS Stage 1 ($185mill) and Paragon ($183.16mill) were the largest that year. To be able to raise so much money, so quickly, in such a new market, using such a new mechanism is truly incredible. 2017 was the year that proved ICOs are for serious individuals and institutional investors as well. We have also had some phenomenal amounts raised so far in 2018. Telegram ($1.7bill), Dragon ($320mill), Huobi ($300mill) and Bankera ($150mill). Telegram might be the first mainstream example of an ICO, not only by raising close to $2billion, which would be beyond incredible and impressive even by traditional IPO standards; but also, because it is one of the first ICO companies to tangibly put a product in the hands of hundreds of millions of users, and successfully compete against traditional companies such as Facebook (MessengeWhatsApp), Microsoft (Skype) and Tencent (WeChat). What is ICO main mechanisms and processes.? How to market STO? What are the best security tokens 2019? Follow the link to learn more: UBAI.co We can teach you how to do ICO and STO in 2019. Contact me via Facebook to learn more: Facebook
I've put together a post that has, what I think, is all the possible (english) information on SmartContainers' ICO out there
Okay, so this is going to be really long in terms of posts here. I actually have to cut out some info to make it under 40000 characters for reddit... Typically in the market there are Currency and Utility coins. Profit-Share Tokens are relatively new, and while this ICO has 2 tokens, the profit share token is definitely the main attraction, as it's tied to a very, very promising company. This company is SmartContainers Group, and their tokens are SMARC (profit-share token) and LOGI (more on LOGI later). “Smart Containers Group, formerly REP AG (Swiss registry of commerce, UID: CHE- 141.664.882), is a Swiss based, high tech company that provides the safest temperature controlled containers to transport sensitive pharma goods and food around the world. Our purpose is to secure sensitive goods and to make sure no compromised product is ever delivered to anyone.” - whitepaper
Our containers transport some of the most expensive and temperature-sensitive goods in the pharmaceutical industry. These goods need a particularly careful and accurate protection. Through our highly secure and efficient container design, we assure the best possible protection against temperature excursions. In combination with a cutting-edge technology, it enables us to provide containers with easy handling, maximum loading capacity and highest performance on the market.
More than 50 man-years of research and development poured into the creation of an unprecedented, highly efficient insulation. This cutting-edge technology reflects a maximum of radiation while minimizing heat conducting. It is the most patent protected insulation technology on the market.
The ingenious SkyCell R&D team invented a completely new, cooling technology, that stores five times more energy than traditional methods to keep the container at a steady temperature. Consequently, SkyCell containers are automatically recharged in a cooling chamber without any manual interference. Nothing can be mixed up since all parts are integrated and fixed.
The ingenious SkyCell R&D team invented a completely new, cooling technology, that stores five times more energy than traditional methods to keep the container at a steady temperature.
“oh, our product needs better cooling? Okay, let’s just invent a better cooling technology, no biggie”. Who heads that team, Rick Sanchez? I asked about this tech during their AMA, here's what they said:
Cooling technology: Yes, our containers are state of the art. Nico has developed a cooling material that freezes at 5.5°C. So if you put it in a cooling chamber that has a lower temperature, it automatically freezes and if the temperature is higher it melts. Basically, the system works like a huge ice cube that is empty in the middle. The centre of the ice cube has a steady temperature of 0° until at least 1 side of the ice cube has melted. It's the same principle for SkyCell containers, but at 5.5°C
The patented-in house developed cooling technology stores five times more energy than traditional methods to keep the container at a consistent temperature. After use, they are ‘recharged’ in a cooling chamber without any need for manual intervention, increasing productivity of the business and reducing cost.
I’ve forgotten to mention something so far about their product [the containers]. They’re literally (not figuratively, literally) the most advanced container ON EARTH.
From their ICO FAQ: Where do you position yourself compared to Envirotainer? Envirotainer is the number one container company with the largest container fleet today. We are currently fourth globally, but we reached this position in less than 5 years operating in this space. SkyCell containers have been tested and shown to be technologically superior to Envirotainer containers (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings as well as a reduced CO2 footprint.
We are currently fourth globally, but we reached this position in less than 5 years operating in this space.
Another thing that’s pretty impressive, 4th largest company in their entire field… after just 5 years… but back to the main point of that statement: “SkyCell containers have been tested and shown to be technologically superior to Envirotainer containers (5x more runtime, up to 35% lighter) which translates into safer pharma distribution and cost savings as well as a reduced CO2 footprint.”.
Watching a video from a blockchain conference in Switzerland, I got a fair bit of info from the CEO, Richard. I’ll be quoting him in that video a few times in this post, and here’s the first: “In my industry, we talk about how many shipments go wrong - and the average is 8.5%. So for 8.5% of pharma shipments for example, the [proper] temperature is not maintained. In our case [with Smart Containers], it’s less than 0.1%. That’s 75 times better. Richard also speaks in this video about how they will be able to eliminate the amount of shipments happening every year, due to the decentralized nature of this whole system, there will be less need to send packages to places far from their end destination, to make the delivery easier on the shipping side. We’ve all had packages come from across the ocean, only for it to fly 1500 Km past us to be shipped back our way next week…
”There are 200 documents are required, or exchanged, to make one shipment happen… we estimate we can bring this down to 8” Richard Ettl, CEO Logistics is an old industry. it started out on paper, moved through the fax, early ages of the information era, early email, current email, and is now ready to move onto the blockchain. LOGI CHAIN GOALS
Eliminate paper and disconnected information like email from the shipment process
Automate billing throughout the supply chain and reduce transaction fees by accepting cryptocurrencies as payment
Provide services for the whole logistics community, including logistics players, airlines, sea freight companies, customs brokers and more
“By using blockchain technology, we can decentralize logistics and create autonomous containers – container 4.0. This container will know who’s renting it, when the contract ends and when to invoice the customer. That’s why we’ve created the LOGI CHAIN platform. It allows us to create a seamless, fully integrated, digital logistics process that everyone can use for free.” - Richard Ettl, CEO “Well-established processes often generate inefficiencies that we simply accept. And of course everyone knows change is painful. But at Smart Containers, we see things differently. Change is the only way to improve. We think that every process should not only be optimized but redefined and redesigned. Logistics today is highly centralized. It’s incredibly inefficient. So many wasted kilometers to huge warehouses.” Nico Ros, CTO
There will be more than one blockchain at play with this system as well. The info that people deserve to know will be available on a public blockchain like Ethereum, the weight, material safety data sheets, the storage conditions (which as said up above, 8.5% of pharma shipments have issues with, and Smart Containers brings that down to below 0.1%), as well as at the same time, the info that shouldn’t be public to everyone (Bills, invoices, etc) would be stored on a blockchain like Fabric or HyperLedger. LOGI will be the fuel for the LOGI Chain. CMO Carla elaborating on LogiChain:
The LOGI project finds good echoes with logistics players but even more with blockchain infrastructures like NEM, EOS and NEO. Emirates for once was enthusiastic about the project and definitely wants to join the foundation. As you know, the government of Dubai is focussing on applying blockchain asap to multiple industries. We are also in exchange with ShipChain, who are running a similar project in the US. Our goal is to collaborate with a maximum of projects around the world. The LOGI Chain Foundation will be set up in July, right at the end of the ICO. Dr. Fabian Schär, our valued Advisor, will be in charge of defining how the LOGI Chain Foundation will develop in the next 2-3 years. We think that we will be able to put out a PoC based on SkyCell until the end of the year. We have not yet decided on which blockchain platform to build the LOGI CHAIN. We are highly delighted with NEM since they are already operative and offer a private and public blockchain on the same protocol.
One platform to get all players up to speed, to handle all documents and permissions in one place. No more floods of emails. No more polluting the environment with senseless printing of documents. No more compatibility problems and clashes of individualized systems. To show you how vast the amount of documents (and by this emails circulated) find a list of common documents needed for one air freight shipment below: Documents of origin, Material safety sheet, Airway bill, Bill of lading, Transport order, Customs declaration documents & bills, Invoices, Product data sheet, Storage conditions, Transport conditions, Multiple service provider billings, Licenses, etc. This adds up to the gigantic number of about 200 manually processed emails per shipment.
A combination of public and permission based chains will allow for all players in the ecosystem to store documents needed in the logistics processes. We are looking at multiple platforms to build the LOGI CHAIN on top including NEM, Fabric, Corda, EOS and NEO.
I’ll be using bits and pieces taken from their white paper and LinkedIn pages. The Smart Containers team includes over 80 people, and is growing every year. Richard Ettl - Co-Founder, CEO - LinkedIn Richard wanted to know how things worked since he was a child. He has a passion for engineering and management. Growing up in Vienna, Austria and studying in Stanford USA and the University of Fribourg, Switzerland, he started his career at Bobst Group, a leading producer of packaging machines worldwide. In 2009, he decided to launch his own business together with his university friend Nico. After wide reaching scientific research and various proof of concepts, they founded today’s Smart Containers Group as well as SkyCell in 2012. Since then he has lead the companies to commercial success, seamlessly finding the right partners and investors at crucial points, as well as convincing more and more clients of the unrivaled benefits of the SkyCell offer
Nico Ros - Co-Founder, CTO - LinkedIn Nico Ros, Chief Technology Officer & Co-Founder Nico is the mastermind behind Smart Containers Group and its technology. Growing up in Basel, Switzerland, he discovered his passion for mathematics very early on and therefore came to study mathematics, physics and engineering. Being a natural talent, he had already won prestigious architectural prizes during his studies and quickly became managing partner at ZPF an engineering company in Basel. He has constructed the most expensive buildings in Switzerland in collaboration with the famous architects Herzog & DeMeuron. Nico’s key strength lies not only in his state of the art engineering know how but also in his efficient management of teams, leading highly complex, multimillion projects to success. However, engineering alone did not suffice Nico. Having a passion for business and management, he decided to complete additional studies at the University of Fribourg, meeting Richard along the way. Everyone who meets Nico rapidly becomes aware of his sharp mind and his passion to invent new technologies. It is therefore not surprising, that both him and Richard ended up together where they are today.
Andreas Ernst - CFO - LinkedIn Andreas is the true logistic finance expert in the company. He spent all his career in various finance roles of logistic service providers: from Swissair (today Swiss International Airlines), to Swissport (biggest ground service provider for airlines) where he filled the role as regional CFO for the Middle East and Africa. His last role before joining Smart Containers Group was CFO of Unitpool (now called Unilode), which is the largest independent air-freight container pooling company in the world.
Thomas Taroni - Head of IT - LinkedIn Thomas is an IT-architecture mastermind. His first claim to fame is the creation of the largest media database, shared by all media houses in Switzerland: more than two million articles are uploaded every year, then queried and shared seamlessly and efficiently among multiple news companies. He founded his own IT company to design IT architectures focusing on process automation (eliminating paper and endless emails), and as a result won other clients (large banks, pharma companies and even publicly tendered government contracts). SkyCell became his client, when they needed a bespoke asset management system to track and trace their containers around the world. He joined SkyCell four years ago and since his tenure, has become the head of IT for all companies of Smart Containers Group.
Carla Bünger - CMO & Business Development Manager - LinkedIn Carla is a marketing and sales expert. Building strong brands on solid foundations and convincing clients to buy its underlying products gives her huge satisfaction. She collected her experience through managing various international consumer brands, for companies such as Nestlé, Lindt and Coty. However, she discovered her passion for Blockchain technology roughly 18 months ago and has since been actively participating in the com - munity of Crypto Valley in Switzerland. The sheer endless application possibilities make her strive for more and she is drawing energy and enthusiasm from developing new business schemes around the subject. Her “can do” attitude helped to put together the high level advisory team around our ICO.
Strategic advisor: Oliver Bussmann, is CEO and Founder of Bussmann Advisory, former CIO of UBS and SAP as well as the President of the Crypto Valley Association. “our main advisor” - Richard Strategic advisor: Marc Bettinger, Altcoin and Blockchain specialist and investor, Co-Host Altcoin Meetup Switzerland (Bitcoin Association Switzerland) Strategic Advisor: Fabian Schär is Managing Director of the Center for Innovative Finance at the University of Basel. His research focus is on the potential and applications of blockchain. In addition, he works as a lecturer in blockchain technology at the University of Basel, the University of Applied Sciences in Business Administration Zurich (HWZ) and the University of Applied Sciences Northwestern Switzerland (FHNW).
Technology Partner: Lykke Corp. our highly trustworthy expert in smart contract programming and ICO execution. (Lykke also audited their ICO smartcontract) Legal Advisor: Gabriela Hauser-Spuehler was part of the team of MME, the well-known law firm in the crypto space. Communication Advisor: David Wachsman and Emma Walker from Wachsman PR, the crypto community’s most experienced PR agency. Richard also states they hired a lawyer that worked on the Ethereum ICO, but I don’t know if it’s Gabriela up there or another person.
Min. investment = $500 USD for ICO, $5000 for presale (largest portion of supply), $250k for private sale. There are two tokens as mentioned before: SMARC and LOGI. I’m more into SMARC because it’s safe (safe once the payouts start of course, as soon as a coin has a clear value like this, BTC moving up or down doesn’t matter to you), as well as obviously very attractive if you think of the long term profits.
Every year, the company’s annual shareholder meeting takes place, during which the shareholders will agree (or negotiate) on a proposal by the Smart Containers’ board about how much of the company profits is to be paid to the shareholders that year. 20% of that amount is taken, converted to ETH, and fairly distributed to the token holders.
Since the cofounders and all token holders will have aligned interests and incentives, we are all in a positive-sum-game. We do not want to use the ICO as a speculative springboard, but as way of funding innovation and change the world. Both Richard and Nico are committed for the long-term and not interested in a quick exit. Our aim is to use the collected funds to continue pushing the following business areas:
• Continue scaling of SkyCell in both B2B and B2C • Establish FoodGuardians - the main goal if the ICO is to build and scale FoodGuardians • Establish the of LOGI CHAIN Foundation • Regularly evaluate organic scaling vs. M&A • Evaluate IPO at relevant time
We are raising funds through an ICO to grow our container businesses in pharma and food. We push SkyCell from no. 4 to the no. 1 provider in the next 2-3 years.
The CEO in this video explains pretty easily why one would want to put money into this ICO over others:
“Why invest? [referring to SMARC] Simple question. It’s an up and coming company with revenue, multiple millions a year, most ICO’s have white papers…[we have much more than that].”
That's pretty clear. You can invest in random Xcoin ICO where they have some half-baked token that might see some level of adoption if it isn't just a cash grab, or you could invest in an actual multimillion-dollar company and be a part of it as it scales into what could potentially be a multibillion dollar entity.
How will the profit share payouts work? 20% of dividends will be paid in ETH to all holders of SMARC tokens that are in circulation at the time of the payout. A given business year ends on 31st December each year with a general assembly held annually around mid-February. Therefore, dividend payout is expected around mid-March each year. In the event of a total sale of Smart Containers or the exit of one of its lines of business, the holders of SMARC tokens will receive a 20% participation of proceeds
Is there a future profit statement? No listed company can make an estimation or a commitment to a future return. To do so would neither be professional nor ethical. For Smart Containers, as with any company, profits may often depend upon a number of external factors, such as the general trust in blockchain technology. The question to be assessed is how fast a new disruptive technology can replace an old system. We believe that Smart Containers Group is well-positioned to facilitate this disruption, with a strong plan going forward and experienced team working to successfully implement blockchain technology in the supply chain. 5 years of industry experience, the 4th largest container fleet and a motivated team; that’s more than any idea whitepaper ICO.
What specific rights come with my investment? The SMARC token is a profit share token. When the company generates profits and the company’s general assembly approves a dividend payout, 20% of the defined funds attributed to dividends will be distributed proportionally to holders of SMARC tokens in circulation. In contrast, the LOGI token is a utility token that can be used to pay for transactions on the LOGI CHAIN, an open-source logistics platform for all stakeholders in the logistics field with the goal to create a seamless, fully integrated, digital logistics process.
Smart Containers will pay out a dividend to SMARC token holders. This would imply that the SMARC token is a security token. Are you compliant with financial regulation? Smart Containers tokens is not classified as a security in Switzerland under current law. This may be different in other jurisdictions such as the USA. Hence the SMARC token is not eligible for sale in certain jurisdictions. Our benchmark is the Modum token sale from June 2017. We have elected to use the same legal structure as it was accepted by regulators in Switzerland and well received by the ICO community and exchanges.
What is the vesting schedule for team and advisors tokens? Everyone will receive SMARC and LOGI tokens at the same time. Minting will occur at the end of the token sale. Advisors will have lock up periods depending on how many tokens they receive. Team members have a lock up period of 12 months.
Are SkyCell containers an approved ULD according to IATA regulations? SkyCell containers are exempt from the ULD rules by IATA. This has the huge advantage that, compared to our competitors, the SkyCell container can not only fly but can also leave the airport. Skycell containers are therefore a door-to-door solution. Our competitors’ containers, on the other hand, have to be unloaded at the airport and packed into a new transport unit in order to continue their journey from the airport to the final destination, increasing the risk of temperature excursion, and loss.
Are there financial statements? If so, are they audited, and by whom? Yes, there are financial statements for all our companies. They are audited by PricewaterhouseCoopers (PwC). To preserve our competitive advantage in the market, we have decided not to publish our financial figures online at this moment in time.
Are Modum and Smart Containers competitors? Modum and Smart Containers are not competitors, more future partners. Modum rents/sells sensors to track and trace shipments on temperature, whereas Smart Containers rents/sells the containers, in which products including sensors are put inside. Of course our containers have sensors that record data for quality control, but Smart Containers does not sell these data sets. In the end Modum and Smart Containers will address to the same clients - Smart Containers provides the container and Modum will put a sensor in it.
How many airlines fly SkyCell containers? In addition to our major partners, Emirates and CargoLux, more than 30 airlines fly SkyCell containers.
What destinations does SkyCell serve? SkyCell is a global company. We are shipping containers around the world and reach each pharma client within 24-48 hours. This is accomplished through our airline partners, that can fly ready-to-use containers to more than 150 airports.
Profit Sharing Mechanism
During the annual shareholder meeting, the shareholders in the form of the general assembly (Annual General Assembly) decide on a proposal by Smart Containers’ board regarding the usage of profit as recognized in the annual financial statements of Smart Containers in the form of distribution of dividends. Distribution of a dividend on shares shall be announced in the “Tokenholder Information” section of the Smart Containers website; such announcement shall include the date and time of the dividend payment and the dividend amount per ordinary share in USD as well as the ETH/USD exchange rate which shall become applicable, as derived from publicly available and reliable quotes. Within 20 business days of the date of the resolution passed by the Annual General Assembly regarding dividend payments to the shareholders of Smart Containers, Smart Containers will make available a Profit Share Amount to each authenticated Tokenholder equal to 20% (twenty percent) of all dividends agreed to being distributed per share to the shareholders, divided by the total number of issued SMARC Tokens (To further explain for clarity, all Tokenholders combined will receive an amount equal to 20% of the amount received by all shareholders combined.). SMARC Tokenholders shall receive these payments in ETH, at an average exchange rate specified by Smart Containers.
“Imagine your tomatoes tasting 1 day ‘fresher”. One of the main reasons for the SMARC/LOGI ICO is to raise the funds to fuel the growth of FoodGuardians alongside SkyCell. According to their CEO, SkyCell is constantly asked “can your containers be used for food?”, but there are several issues with shipping food and medicine together. This is where FoodGuardians comes in.
FoodGuardians offers the next generation of reusable containers and boxes to transport regionally and globally temperature sensitive food products.The combination of patented cooling technology, cutting edge insulation and Blockchain infrastructure allows to redefine the product’s freshness and traceability.
Our vision is to allow your local butcher to order your favorite steak directly from the producing farm and sending it straight to your grill party. (All without the buyer even leaving his home, let alone going to store)
Advantages of using FoodGuardians
Cost efficiency vs. existing solutions
High durability with longer container life cycle
Secured food safety through track & trace on Blockchain
Sustainable and recyclable, reducing CO2 footprint
Longer runtime and performance than existing solutions leads to higher freshness level
Opening up new revenue streams by disrupting today’s delivery cold chain possibilities
Easy handling and recharging (plug free and are automatically recharged in a cooling chamber, reefer container or reefer truck without any manual interference)
Each FoodGuardians container can be tracked around the world on:
The phrase “Imagine your tomatoes tasting 1 day ‘fresher” has been used by the CEO a couple times, and is more or less the FoodGuardian slogan. This is referring to the fact that not only can FoodGuardian and SkyCell containers save cost, CO2, and man/brainpower, but they can also make shipments faster when combined with the blockchain (LOGI Chain) and Smart Contracts. when everything is accounted for at every second with almost as little room for human error as possible, things are far more efficient.
We are launching our first food application – we will announce a collaboration before June for a solution that can be used to ship overnight online fresh food to people homes and can be used to supply hospitals and restaurants as well.
FoodGuardians and SkyCell are two of the many possible use-cases for SmartContainers' tech:
"Other use cases. Yes indeed. We are just getting started!! However, it makes sense to focus on scaling SkyCell and FoodGuardians before starting something new. In the end we are a tech company. We have defined 7 use cases around the insulation technology. We have started with the most relevant 2 but will certainly continue."
SkyCell is looking to bring a business-to-consumer solution to market, that was developed and tested with one of the top 20 pharma companies in the world. The direct to patient market is estimated to increase to a 2.5 billion USD market in the future, with no other competition yet aside from styrofoam containers that are disposed of after one use. The SkyCell ONE can also be co-branded by a partner, such as a pharmacy chain that could rent it out for home delivery, business trips or even holidays. The product is temperature stable for up to 72 hours, can be recharged passively in a fridge, or temp-controlled warehouse or truck. Currently it’s best in class for size and weight, but that’s probably down to there being no competition! Trials have been undergoing since June 2017 with an orphan drug product, and go live is expected in Q2 2018. - Cryptowithoutborders article
We are launching also additional sizes – so we are launching a very small box to ship pharma directly to patients' homes. Amazon just recently announced that they will postpone entering the pharma distribution space, as they do not have the technology to ship to patients homes in a temperature controlled manner. We are bringing this to market later this year. This will increase the convenience of patients and reduce the costs in the healthcare system.
I just finished listening to this podcast (20 minutes long, but you can skip the intro stuff to make it shorter of course). I’m now twice as excited as I was before. I’m going to type out a large chunk of the podcast. I’ll be paraphrasing slightly, so I don’t have to type every “uhh” or anything, plus he sometimes starts one sentence before finishing another.
“We have some prototypes, that we built, for example, for the Children’s Hospital here in Zurich, where we’ve designed a container that can transport living skin.” [Interviewer; “Wow.”] “So for young children that suffer skin diseases that could be almost fatal, like cancer, they grow this… patch of skin, and then that skin needs to be transported, and kept at body temperature so… roughly 37 degrees Celsius. There we designed them a box that did this for 10 days, autonomously.” [“That’s amazing…”] “Yeah, we did this because we wanted to learn how to interact and work with hospitals, this is a highly specialized application, and the next step could be organ logistics, because most of the organs today are transported on ice, because that’s the standard set in the 70’s, but studies have shown that if your transport certain tissue at room temperature, it is significantly better for the tissue than if you transport it on ice.”
I can guarantee you every major hospital on earth is going to want their hands on this container that can allow them to transport both living skin, and potentially organs in the future. The fact that in this day and age we’re still throwing people’s kidneys/lungs/etc in a bucket of ice is a little weird. From the recent AMA:
Our Container BT5: The name stands for Body Temperature 5 L content. It transports skin grafts that was cultured for children with burn accidends. The temperature range is 37°c. Nico (our CTO) was so taken by this project, that he developped this container only for this purpose for a company calles Cutiss (a start-up from Zurich). We currently only have around 10 of these containers in use. It is not produced in on a large scale. We could market it, but have bigger opportunities to tackle first with the SkyCell one. You can only focus on 1-2 projects at a time. The BT5 is a beautiful project, but will need manpower to scale production and then manpower to market it.
Envirotainer, The leading company in this field, has only a matter of time before they’re overtaken. SmartContainer Group’s containers are proven to be superior (5x as efficient, 35% lighter, self-charging, etc, etc, read up above for the whole deal). According to the Googles, Envirotainer’s best year (2015) saw a profit of $50,000,000. It’s logical to assume that Smartcontainers will surpass them as the top dog, and at the same time be pulling in much more profit over time by serving both pharma, and the food industry (Envirotainer only does pharma). By accepting cryptocurrency payments, saving them a fair bit in fees from cross border payments, they’ll also net a small % more in profits annually. I asked about the state of their competition. Turns out, Envirotainer (or more specifically the private equity firm that owns them) offered SmartContainers a buy out of $125m. This was one of countless offers they've turned down, because they believe they can scale the company to much further value. The firm selling Envirotainer has been trying to find a buying for the past 3 years, at $1b. No one will buy them, because anyone who knows their shit in that industry knows SmartContainers will overtake them in no time. From April's AMA:
Our 2 biggest competitors are for sale. Envirotainer (biggest player) is owned by a Private Equity company that wants to sell it for 1 b USD. it already tries to sell for 3 years. SkyCell is considered a threat to the valuation of Envirotainer, since we are winning one client after the other from them. While Envirotainer is the largest player with a huge sales force and well established client contacts, they are still operating on an "old" technology. SkyCell is technology leader, has lighter containers, reduces CO2 emissions and is considered to be the future.
2 days ago, a private equity company requested a meeting to see the valuation of SkyCell and evaluate to buy. We have already been approached several times. We are treated as the bride in the market. However, Richard and Nico think we can scale the business much more before we should consider to sell. We are just getting started.
We have won 3 large accounts in Q1. Today we have 1200 containers. By the end of the year, it will be 2000. Our business plan estimates that SkyCell will be profitable in 2019. Therefore you can expect first dividends in Q1 2020.
Another redditor asked for "optimistic expectations for potential profits" during their ama, here was their answer:
How does a profit of 21 m USD on Smart Containers total in 2020 sound? This figure will then quadruple in 2021 to 76 m USD.
As you can see, this would mean that by 2021 tokenholders would not even have broken even yet. I myself am fine with this, i'm expecting to hold SMARC until the end (be it I die or the company sells, in which case i'll enjoy that fat exit payout). The potential gains from 2020-2030 are far more worth it to me than trying to make it in one year with heavy risk. So why invest in this over a random shitcoin that might moon? If you're here to turn $1000 into $1m and get out by the end of the year, good luck, don't invest in smarc. If you're realistic and are aware that crypto will only be so volatile for so long, go ahead and think about putting a bit of your portfolio in something that will have actual value, lasting long after the shitcoins die. Crypto market could crash at any time, but that doesn't mean that SmartContainers as a company goes anywhere, nor their profits. I don't think I need to explain any further.
A 5 year old company, with over 100,000 collective hours of R&D put into their products, with currently just under 100 innovative patents, that is already the 4th largest of it’s kind in the world, with the top product in their field on earth, is doing an ICO that is fully backed by the Swiss government, with a token that is due 20% of all future shareholder payouts, as well as 20% of any potential exit profits (the company being purchased). They’re already this big, and you can benefit from both their success, and their expansion into new markets. There’s nothing stopping SmartContainers Group/SkyCell/FoodGuardians from working with VeChain in the future either. Or Walton, or Wabi, Devery, OriginTrail, Ambrosus, all of em.
Should you invest in this? I sure am, and am very glad to even be offered the opportunity, but it’s up to you. Read through this post if you haven't yet, then click these links and decide for yourself. Don't go all in of course, since this is a profit share token, there is much less risk, therefore less short term reward. The long term reward is what we're looking at here, don't buy into the ICO and then complain that you aren't getting 1000% ROI payouts by year one.
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