Someone please tell me how Iconomi is flawed before I dump all

its not flawed

>>2570042
So they make their profits affect your token price by using a percentage to buyback tokens and burn them, decreasing supply. Problem is, they aren't actually obligated to do this. There is nothing in the code that makes them have to increase the value of the token

the problems are unable to be discussed without censorship, people had to make r/iconomiuncensored due to problems in the main sub and ann thread
iconomi has paid internet shills

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I guess this is a good thread to ask.

do you guys have any experience with ETF/Index fund style assets for crypto?

Stock market index funds are consistently safe with a good amount of returns. I'm wondering if the same applies to cryptos, especially as market cap rises.

I found Bit20 the other day and it seems to be better than Iconomi in every way but I don't think I have ever seen a thread in /biz/

http://www.bittwenty.com/

>>2570249
>>2570042
I don't have experience with Iconomi or Bit20 but Index funds are just an easy way of taking advantage of the ecosystem.

Trading and micromanaging individual assets will always get you more gains

this will skyrocket son

>>2570125
Thanks based anon

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>buying at all time highs
Why does /biz/ do this?

You know buy high sell low is a meme right?

If all you want is a diversified set-it-and-forget-it then ETFs are the way to go, they're pretty much a guaranteed 5% gain

Iconomi and the ICN token are a scam, stay away from them.

>>2572249
any evidence to support this anon?

>>2572283
the ICN token does not represent the Index fund in any shape or form

>>2570249
It's a pity that bit20 is not available on other trading exchanges.

It's an incredibly healthy coin with steady peaks and dips that has consistently gained in value since it was added to the exchanges. I've made 50$ on a 200 investment in just two days plus and extra 20 just from trading it back and forth from USDT today alone. You can make way more on it, I was just being conservative until I get a better handle on trading.

What is the potential of this?

How do I buy this? It isn't on Bittrex

>>2573341

Kraken

>>2572112

I think I'd be okay w 5% a day..almost like a steady moon over time..where can I buy this coin?

So I can day trade this reliably on Kraken? buying at 1600 and selling at 2200?

>>2573427

woops didn't realized it had already mooned.

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>"has the potential to moon hard"
>"this will skyrocket soon"
>price two weeks ago was around $1.1
>price right now is $5
What is wrong with you people?

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>>2573534

>>2573552

So doesn't this mean it's going to dip hard soon?

>>2573534
You could have said the same thing when ETH hit $5

>>2573534
Anyone who put down 100 dollars two weeks ago now has 500. If that's not a solid investment I don't know what is.

>>2573625
his point is that it already mooned and to expect it to do that again so soon is unlikely

It's a good investment. The platform has not launched yet and they haven't even gotten to phase 2 of the profit phases yet.

I expect it to double by August. This month they'll be making their beta available to early investors and in August it'll be made publicly available. Think for your self and see if its really a good investment.

>>2570042
they're basically already in prison. the ICN token will either be taken for an illegally issued security by any court if anyones sues them or it's basically worthless, which makes them scammers.

have they in the mean time disclosed where their investment vehicle is incorporated in or do we still don't know under which jurisdiction these scam lords fall?

>>2574164
fucking this, Bit20 is the way to go.

>>2573010
Lmao and? The ICN token is investing in their platform. You can invest in icnx and icnp in august.

Not to mention this is even listed on polo or bittrex yet.

>>2574164
Lmao were do you spergs come up with this shit?

This is all completely unregulated. If you are worried, don't invest. It's quite simple.

>>2574419
>>2574506
>The ICN token is investing in their platform.

If you think this isn't a problem you don't know shit about economy or laws in general.


ICONOMI team used/uses legal concepts like shareholding and ownership as interchangeable, while they are definitely not. During the ICO stage (and later on) the team repeatedly referenced ICN token holders as shareholders with proper shareholding status (including voting rights). The white paper - which has been further modified after the ICO ended - states that ”ICN tokens represent ownership of the ICONOMI platform, allowing their holders to receive dividends and vote on ICONOMI related issues”. Not sure whether this was an intentionally deceptive misrepresentation - I am assuming they hired a law firm before issuing their ICO - but it’s quite disturbing. Shareholding and co-ownership carry pretty different legal implications, both in scope and in applicable law principles. Also, dividends are paid by companies, not by co-owned services. Still, many people swear they are ICONOMI shareholders because the team said so (as a side note, to date there isn’t still any evidence that an actual entity exists for the ICONOMI project - let alone an entity whose shareholding/stakeholding is made up exclusively by ICN token holders according to clear and legally binding terms).

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>>2574419

somebody cries, your investment is down the drain and with it half the crypto economy.
don't expect ICN to appear any time soon on polo or bittrex with all the unanswered legal questions. they too have lawyers.

>https://www.reddit.com/r/ICONOMIuncensored/comments/652fhb/is_iconomi_projects_goal_really_attainable_in_the/

>>2574506

>>2574535
read the last sentence in dat img.png

>>2574528
They aren't paying dividends they have instituted a buy back program for the ICN tokens and will destory the ones they buy back making it deflationary. This increases both buy pressure and holding pressure for the token.

There's nothing wrong with giving owners of the tokens a say and voting rights. These aren't legally shares, if you want to come in and regulate iconomi you'd have to regulate the entire cyrpto space. Stop spreading misinformation when you know nothing about the project.

>>2574528
furthermore, the ICN token is 100% a fucking security, which means it will never be listed on any exchange like polo or bittrex.

At best Iconomi is a poorly planned and poorlier managed “failing experiment” (a dumpster fire basically), at worst it's the most heinous scam the crypto world has ever seen and it's going to ruin everything for everyone.

If the normies fall for this shit thinking it's the S&P of the crypto world and they get scammed and call for regulations I'm going to be pissed.

>>2574535
>>2574576
>seeking justice

My fucking sides, this is crypto the wild west. Is coinbase being sued from that 10 cent eth debacle?

You are posting nothing but what ifs. Do you really believe the gov will just swoop in and shut them down and iconomi will steal your money?

You've posted nothing of substance, I could do the same shit you're doing with any coin or token in the crypto space.

>>2574611
You keep saying it's a security, but it's not. Just because you keep saying something doesn't make it fact.

Ugh, Iconomi looked like one of the better ideas I could put my money towards so I bought some today. Now after reading this thread I'm not so sure.

FFS, I just want to invest in coins with good ideas. Need something other than Sia.

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>>2574637
are you fucking retarded? I have given you perfectly fine reasons why Iconomi is garbage. The problem isn't 'the government stealing your coins', it's that those fuckers are guilty of fraud. And besides accusing me of posting nothing of substance, how about you try discredit any of this. What? You can't? Right, because you idiot haven't even spent five minutes looking up this shit. I mean for fucks sake, nobody even knows where these idiots are incorparated, and when you ask them they ban you or kick you from slack and call you 'fudder'. What a nice company to give your money to.

>>2574671
just don't hold too long (like years). It's not like everything is going to explode in an hour or anything.

>>2574692
Fraud? Please post an instance of fraud.

Where is eth incorporated? How about bitcoin?

>>2574778
you're a moron.

>>2574692
You thought they were paying dividends, yet accuse me of doing no research?

Also

https://www.google.com/amp/s/amp.reddit.com/r/ICONOMI/comments/697cbr/iconomi_ama_may_2017/

Iconomi imc is located in st vincent

Boom headshot

Stop spreading fud

>>2574790
Awesome rebuttal

Take note here folks this guy has no idea whats going on with iconomi. He's spreading fud and i have disproven all of his attempts.

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>>2574707
you're confusing me with the other poster. anyway, I wasn't up to date on Iconomi, since I sold mine, so I give you that. But ... pic related. (Not trying to say they're lying, just that I have to verify their claim first).

>>2574611
Show me where bittrex or polo have stated they will not list icn. It's already on a major exchange kraken.

I'll wait

>>2574841
>>2574932

meh, clicked the wrong post.

>>2574875
you're still a moron when you think comparing apples to oranges is a valid argument.

Fuck off faggot I don't want you weak handed cunts shitting up my future lambo coin

>>2574932
Post the link.

>>2574956

This

>>2574942
I'm looking at this objectively. You've yet to pull up anything besides this incorperated drama. You could do this with any crypto.

>>2570042
Good God I am balls deep into this. Holding for a couple of years.

>>2570249
>http://www.bittwenty.com/

> website not using HTTPS

Seems legit! I'll give them all my information.

ICN: No transparency - No communication on BCT - Dev/CEO is a douche - I've held since February - just starting to payoff..

>>2574998
>You could do this with any crypto.

no, you can't. Icomi is a company, not a blockchain based database on the internet (coin).

additionally it's not just the place of incorporation (which was important, because nobody knew what jurisdiction this shit fell under - after all they promised you shared), but a lot of other problems like promising you shares (unregulated securities, something they had no right to.) - and then backing away from it. (it seems it's shares again, from what I read in their AMA, but I only read a few sentences).
The fun thing was / is that there were two options and both meant they are in legal trouble - and besides this changing their mode of operation, it also meant that ICN was a risky investment. Even compared to other crypto-tokens.

Anyway, I haven't found an official business register for Saint Vincent yet and some things regarding Iconomi Inc. seem to have changed. I have to read up on that shit first.

I still do not expect them to be 'clean' though.

>>2575218
ICN is a blockchain based coin.

>>2571292
Yet with stocks over long term there are very little active managed funds who are able to beat the market and index funds just do better..

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>>2575258
so what? a dollar is a piece of paper, does that make it the same as a stock certificate?

>>2575318
It's an erc 20 token, it runs on smart contracts. Do you even crypto? I'll take a smart contract over a certificate any day of the week.

>>2575028
>This website is not built for commercial purpose nor sells anything. It only provides information on the state of the BTWTY markets available on the BitShares Decentralised Exchange.


Bit20 is trustless and fully decentralized, that alone makes it better than Iconomi even if the Bit20 pages looks like something a 16 year old could make.