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[ANN] Developer Announcements - May 2018

All messages are taken from the official Linx Slack and Twitter with permission of the developer to share here
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May 1
Dev: Hi guys, we hope that you are all well. Please find our May update below.
https://mylinx.io/news/may-2018-update/ May Update:
Payment Integration: Unfortunately we have to announce that our first scheduled Linx payment retail integration has been delayed. Of course this comes as a disappointment for us as we're sure it does to you too. We have uploaded a press release from Traxsource below explaining the situation. Here is a transcription :
April 30th, 2018
Due to the increased work load involved in our ongoing store upgrades we are not in a position to integrate the Linx payment system on May 1st as planned.
We are extremely disappointed to announce this news, as both sides have put so much time & effort into making this happen. It goes without saying that we will continue to offer our full support to the Linx project & the team behind it. We hope to be able to bring this project to fruition at a later date.
Sincerely,
Brian Tappert Traxsource Managing Director
The platform : As you will no doubt be aware recent guidelines and regulations in the protection and handling of personal data is changing the way web based platforms operate. API access to some of the biggest social networks is now being restricted among other things and this has caused us to rethink a few major aspects of our own platform.
Although we firmly believe the new data regulations are a great thing for end users, it has also resulted in changes to some of the features that were originally incorporated . Our original schedule for the roll out of the platform was in stages. First we would introduce a fully functional baseline system and then start adding more features over time. After much discussion, we have now agreed that we need to deliver a much more ambitious platform from the get go. One additional aspect of the resdesigned platform is that we will now be including an audio upload and streaming service which will allow artists and musicians to showcase and sell their music directly (using Linx of course) from their profile page.
We are very close to completion and will notify beta testers as soon as we comfortable with the new model so you can put it through it's paces before release.
Block halving : Welcome news for long term holders is that in around 36 days the Linx block reward halves for the first time since our blockchain launched. This will reduce the block reward from 50 to 25 Linx, dramatically slowing down the amount of freshly minted Linx released every day. You can monitor the countdown to halving at the following page : https://mylinx.io/halving
Source and Wallets : The team is currently working on a completely updated version of the Linx source code which implements many of the latest developments in blockchain tech. iOS and Droid wallets will follow the release of the new source. As we're sure most of you are already aware, Linx wallet support is already available for iOS and Android in the excellent Coinomi app : https://coinomi.com
Lastly, although the unexpected delay in our first retail integration was not the news we’d hoped to deliver to you today, we hope that finally knowing who the retailer is will go some way to easing any concerns you may have had about the validity of the Linx project or the abilities of our team. Although we have had to adjust the schedule of our roadmap our goals for Linx remain unchanged. There is a ton of exciting things happening behind the scenes but we remain reluctant to speak about them until they are ready to be realized. In light of the current situation we hope that you will understand the reasoning behind our position on this. For those that are uncomfortable not knowing what's coming, we totally understand and trust you will use your best judgement with regards to any Linx holdings you may have.
If you have any questions about anything ask away and we'll do our best to address them where possible here in the slack channel.
Team Linx
May 2
Dev: Hi guys, before we address your questions we just want to say that the reactions to the news yesterday from the community both in here, on Telegram and on Twitter has left us somewhat deflated. We knew the delay wasn't going to be well received but we hoped that you would see that the delay was not of our making, and see the positives in revealing the name of our partner and also realise that we have been completely straight with you from the start. Instead we watched some of our "supporters" calling us scammers, some even insinuating that we dumped ahead of the announcement. Neither could be further from the truth. Emotions were running high yesterday. We wanted to let everybody have their say before we responded to anything. With that said, onto some of your questions and comments...
User: "Some of us are holders and miners from june. We deserve more @linx team" Dev: We appreciate your frustration John as we are feeling exactly the same. Months and months of work on the payment system took priority over everything else as we knew it was going to be a massive coup for the project integrating with one of the most reputable dance music retailers in the world. The amount of work involved set us back with everything else. Remember, we don't have millions of dollars raised from an ICO to just employ an army of people to get this done. All we can do is assure you that nothing has changed from our perspective, if anything our vision, especially for the platform, is bigger now than we first anticipated. We totally appreciate and respect people like yourself that have been with us from the start and shown real support for the project and we hope that your faith in the project remains.
User: "Unfortunately devs probably knew for quite some time that this wasn’t happening today and used their recent hype to dump their bags." Dev: Not true. For those calling us scammers or liars or insinuating that we have dumped our supply, we suggest that you save yourself the anxiety and exit now without looking back.
User: "if there was an exchange they would have mentioned it" Dev: Check out the guidelines and rules for listing on any of the larger exchanges.
User: "its been 1 year with nothing to show for it at the moment" Dev: Not true and extremely insulting.
User: "you don't give us enough information" Dev: Yes this is a valid point, but we did tell you how we planned to operate from day one. If we felt we could tell you things and they wouldn't be used as hyping weapons we would be much more forthcoming. The last thing we wanted from this project was a lot of hot air out there and a community getting progressively angered by promises of things to come that are yet to materialise. Yesterday, when we did say something, we watched as people from the crypto community publicly attempted to rubbish our project to our retail partner. Yes, against our better judgement we have made some statements, in good faith, regarding our roadmap along the way to address some of the constant questions raised from the community. The reason we never wanted to say anything prematurely is hopefully blatantly obvious now. We fully understand the never ending cycle of hype and fud that the cryptoscene thrives on, but we told you from the start that we were not going to do that.
User: "Since the first partnership didn't go through for now, could you tell us a bit more about the future business strategy of linxpay? Will you release the retail or consumer software to public?" Dev: Absolutely. We weren't planning to release this until the retail version was out there but yes, the consumer version will be fast forwarded now for sure. Work on the platform is currently taking priority, once that's finished this will be next. Think of it like an alternative to the paypal model. It will be as simple as registering an account and making a simple API call to start accepting Linx on any website or blog.
User: "Why set deadlines at all if it's not set in stone with Traxsource." Dev: We didn't. We agreed a deal with Traxsource in 2017. The timelines for integration were chosen and subsequently postponed by Traxsource for valid and unavoidable reasons. The 'set in stone' date of May 1st was their choice as was made clear in our previous announcement.
User: "please tell us about new exchanges." Dev: We have submitted, and are still actively submitting exchange listings. That's all we can say right now. We know that's not exactly what you want to hear but it's the truth.
User: "Good luck finding a link to that "press release" anywhere, likely fake." Dev: It's probably a good idea to wait and see next time before you accuse us of being fraudsters. The press release was entirely Traxsource's idea. They are fully aware that this further delay from their end might hurt our reputation and this is the last thing they wanted to happen. They have supported us from the start. The music industry is extremely fluid and unfortunately full of unexpected circumstances that often cause delays.
User: "reveal the identity of the devs please" Dev: If you are unable to trust us without knowing who we are then this isn't the project for you. There are plenty of crypto projects with photographs and linkedin accounts for you to invest in. We have our reasons for wanting to remain anonymous which we'll explain a bit more in the following answer.
User: "Could you provide a valid business reason why being anonymous is a good thing for Linx?" Dev: Sure. Has the anonymous nature of Bitcoin prevented it from being adopted? Charlie Lee recently stated that he will eventually pull away from the Litecoin project as he doesn't feel having a public head for the project is a good thing. We feel exactly the same way. Any project should thrive (or fail) based on the project, and not who is behind it and what they say or do. Also remaining anonymous allows us to poole our enormous resources without interference from the crypto community. For example - this was tweeted directly to our retail partner yesterday "@traxsource we have some developers who will build and deploy a working product. No need to work with @linXcoin".
User: "scam exit today?" Dev: No.
User: "So they've dumped everything" Dev: No.
User: "Why release the name of the partner? if the deal was still on you would keep the name hidden for competitive advantage" Dev: Do you think that this was the way either us or Traxsource wanted to announce this integration? Can you imagine the fallout if we had simply said that there was another delay without telling you anymore? We had no choice but to reveal the name and we are massively disappointed that we had to do it this way.
User: "The fact that you didn't begin the marketing is a problem" Dev: Yes it is a problem but we couldn't. The marketing of this integration is a joint venture between ourselves and Traxsource.
User: "obviously this is a huge disappointment for you guys, as I can't even imagine the man hours you've put into this project." Dev: Yes this is a massive disappointment for us. We have been working towards this since last year. Other aspects of the project were put on the back burner as this took priority. It's the last thing we wanted or expected and has put us behind schedule several times now, not to mention also delaying other aspects that were tied to the release of this integration. We are now having to adjust our strategy to fit the situation which is not easy when we've been working to said strategy for over a year.
User: "Also if items have changed it would be good to provide fans with more realistic + achievable timelines" Dev: Although we completely understand, and in another situation would totally agree, this is something that we will not be doing. Once bitten... From here on out we will only talk about things that are imminent. That way there is no room for disappointment on either side. We feel this is the only way to proceed and maintain credibility in the current climate.
User: "thank you for this good partnership" Dev:Thank you for again being one of the few that has actually picked up on what a big achievement this is. From the very start we asked you to trust us and for those that have, hopefully we've been proven worthy of that trust.
User: "The team must show more respect for investors" Dev: We haven't received a single penny of investment from anybody.
User: "If they didn't care about crypto community and communication at all, why give all those promises they knew they couldn't 100% deliver?" Dev: The failure for this to happen on the announced dates was not our call, we were 100% ready.
User: "So no milestone has been accomplished" Dev: If pairing up with one of the biggest retailers in our industry and thereby opening Linx up to an entirely new and significantly large audience is not a milestone then nothing we do is ever going to be good enough for you.
User: "The "store upgrade workload" reason sounds bullshit." Dev: It's not. We know the reasons for the latest delay and they are 100% valid.
User: "I think the regulations gave them cold feet" Dev: That is not the reason, see answer above.
User: "I firmly believe that Linx will have its chance to show itself to the world, and maybe it will not take long". Dev: Thank you for the vote of confidence, so do we! We wouldn't be doing this if we didn't :)
User: "The fact is the awareness of this project is only maintained by the community." Dev: Do you really think Traxsource agreed to partner with us because of the Linx community?
User: "If you are really so confident, please at least show us some proof so we can trust?" Dev: Very confused by this question, this seems an impossible ask.
User: "technically, maybe it would have been better for the devs to simply just keep the project closed as they once mentioned" Dev: Agreed.
User: "Keep in mind that there seemed to have been a NDA between linx and their partner" Dev: A fact that most other people haven't picked up on and yes, you are correct. It's not just Linx that needs to keep plans under wraps for competitive edge, our partners do too.
User: "Take a closer look at Traxsource instead and what a quality business it appears to be." Dev: Exactly. Anybody who knows anything about our market knows how big a deal this is. Maybe it would be useful for some to go back and read what Linx is all about.
User: "I just hope that the devs won't lose the motivation to achieve what they had planned". Dev: No we won't. Of course we would benefit from less criticism and more support from the community though :)
User: "I can't speak for everyone but personally as an EDM fan I truly want to see the project become reality and would love to help make it become a reality in any way I can". Dev: You are exactly the kind of person that we hoped would get behind the project and we value your support.
Dev: We have only covered a handful of questions here but it is clear that 2 of the biggest concerns you have relate to communication from us and listing on more exchanges. We will look into making both of these matters a priority going forward. We appreciate that there are some of you that have been with us since the start and we wish this recent announcement had been different for you as much as for ourselves. The last thing we wanted to do is let anybody down. It's especially hard when things are beyond our control as they were in this instance. We'll ensure that a repeat of this situation doesn't happen again by only releasing information on things that are imminent, no big lead ups.
We also hope that our answers to some of your questions do not come across too rude or dismissive, as that is really not our intention, but it is really important that we are quite blunt in our answers to avoid any misunderstandings.
In closing we just want to say that we are very encouraged by the support and activity in the community run Telegram channel especially. Please don't think that we don't care about, watch and value your support in the community channels, we most certainly do.
May 15
Dev:Hey guys,
Hope you're all well.
To address one of the issues brought up recently we are going to be posting progress updates and answer some of your questions every week or two from now on. Any questions you have can be posted in any of the Linx social groups and we'll pick a few and answer what we can.
Progress Updates :
-- Exchanges: As you are all no doubt aware the space has changed a lot over the past few months and many exchanges now only seem to be interested in ERC20 tokens that have raised significant funds from an ICO - and therefore can afford the substantial listing prices that some centralised exchanges are currently charging. We have some options on the table but we would really like to hear feedback from the community as to which exchanges they would prefer to see us spend the money on.
With that said we are totally prepared to follow the listing fee route with exchanges that still offer this option (fewer and fewer of them around it seems), but as mentioned above we would like to get some feedback from you guys before we proceed as we need to choose wisely. We want to ensure that there is a bigger marketplace for Linx traders but at the same time we don't want to see pump and dumps.
We have already submitted listing applications to several of the big exchanges but we have no further details to report at this time.
We've also begun adding Linx to voting systems on exchanges that offer this feature. Here is the voting link for SouthXchange - https://www.southxchange.com/Home/Vote - the Linx voting address is 16bt2DWHh2hxzgjK31sCifiLuUcvQaUFti if you want to support this listing. If there are any exchanges in particular that you would like us to add please let us know.
Although this is not ideal right now we believe that the future is going to be much brighter as more and more people move towards decentralised exchanges. We most certainly will be adding Linx to as many of these as possible as soon as the updated Linx source is released. The updated source fully supports DEX requirements.
-- Platform: We implemented some exciting tech this week on the streaming side of things. Beta testers will get to try it first and once we're happy that the platform is ready to launch we'll be able to tell you about it. Yes this is secretive but for good reason. We are not trying to sell anything based on this information, we're just keeping you in the loop while building something new and fresh. The last thing we need is somebody trying to copy our ideas before we've had a chance to release them. All things going well we should be in a position to give you a timeframe for the beta release in the next update. If you are wondering why you can't see any activity on our github for anything to do with the platform it's because it's all being done on our own self hosted private gitlab repository. At some point in the future we may open this repo up for community contributions, but for now it's strictly an in-house affair. Just because you can't see what's happening doesn't mean we're not busy beavering away :)
-- Retail Integration: No further news on this at the moment, please see the statement from Traxsource if you are unaware of the current situation.
Please get your questions in for the next update, we're listening :)
Wishing you all a fantastic week and, as always, thank you for being #LinxHeadz!
User: can you expand even a little on the music streaming platform?
Dev:Sure, the streaming part is just one aspect of the platform. It will enable artists to self-distribute. It can be used to simply showcase their work (think Soundcloud etc) or it can be used as a direct-to-fan sales platform utilizing instant purchases and downloads. It can also be used as a secure private distribution platform, for example - a producer or band sending out demo's to record labels. The labels will be able to play the track but the public will have no access or even knowledge that the track exists.
User: Regarding the exchanges and fees: can you elaborate on what options are on the table?
Dev:We'd rather not for the simple reason that once we start naming exchanges it opens up the doors for potentially negative responses aimed at said exchanges, remember this is all being discussed in a public forum. But more importantly, we don't want to lead the conversation. Right now the addition of new exchanges is more important to you guys than it is to us, so we'd rather hear what you want without trying to steer the debate in one direction or another.
Thanks for the suggestions of exchanges so far, please keep them coming.
May 21
Dev: Hi guys, please find some responses to your recent comments, suggestions and questions below. Team Linx
User: "wish we had more info about the payment system" Dev: As mentioned before, we spent months building a highly customised version just for Traxsource. As well as being a realtime payment processing engine it also includes a fully detailed customer management and tracking system including accounting and refund processing. It's incredibly simple to install on a retailers server and it is also completely self-hosted. It doesn't rely on, or even talk to, any of our servers. It only requires one live encrypted node (that doesn't even have to be localised) to connect to the Linx blockchain and a server with a valid SSL certificate to operate. It will convert several different FIAT currencies into Linx on the fly based on the current average exchange rate and includes weighting options for the retailer to cover any potential price swings. It's a fully automated system that creates unique user accounts for each customer and tracks their purchase history - it can even offer automatic discounts based on this. It fully integrates with any existing customer database or accounting system that a retailer may already have. It has several levels of security built in including anti-fraud mechanisms. It has a complete user management system whereby the sysadmin can grant varying levels of restricted access to company employees. It truly is a one click solution for any retailer that wants to start accepting Linx on an existing store and a fully functional out of the box customer management system for those wanting to open an online store from scratch. What was once a simple payment processing engine has evolved into a beast of a system unlike anything else out there in this space for sure.
User: "Do you feel the current developers can handle the workload required? Any plans to expand the linx team in the near term?” Dev: It is a lot of work, and the unexpected delays haven't helped at all, but it's important that these early stages of the platform are completed by the core team as they understand the full vision. Yes, we absolutely plan to expand the team once the platform stage is out of the way. We are actively looking for a dedicated lead iOS Dev, (if anybody in the community has suggestions we are all ears). We've already got people waiting to go with regards to the music PR side of things, we've had them from the start.
User: "new exchange suggestions" Dev: Many thanks to all of those that have put forward their suggestions of potential exchanges. We have been making applications where relevant. Some exchanges have already got back to us with offers of listing fees. Once we hear back from all of them we'll review the situation and decide where to go from there.
User: "Bittrex" Dev: We have already re-submitted Linx for listing on Bittrex. When we originally submitted it last year, the circulating coin supply was too low. At the time they required at least 10% of the total supply to be out there, this wasn't the case back then, but it is now. Please keep in mind that if Bittrex does decide to list Linx we will not be able to talk about it.
User: "TradeOgre also is free and good coins are being added there" Dev: Linx has been submitted for listing on TradeOgre.
User: "Dex exchanges" Dev: We will be submitting to many of these as soon as the updated source code is released. There are BIP's in the updated source that are required for DEX listings.
User: "what about the exchange you said you had?", "why aren't you talking about that?", "they have also made irresponsible announcements such as that they had 1 definite and more pending exchanges" Dev: We have definite options on the table to pay for listing Linx. We are not going to disclose what exchanges these are until, and if, we decide to actually go with any of these. This was the primary reason why we asked for your opinions.
User: "starting a community fund to cover exchange listing fees" Dev: Thank you, this is true community spirit and let's us know how much you care about this project being successful! Hopefully this won't be required but it's good to know that some of you have got our backs in this respect :)
User: "there's something fishy going with big buy orders", "looks like insider trading", "somebody knows something" Dev: As mentioned above, we have submitted Linx to several exchanges. It's possible that any of these could have decided to get some supply prior to a potential listing, but if that is the case we certainly wouldn't know about it.
User: "linx kiosk and linxtalk.org" Dev: Neither of these are anything to do with us.
User: "They abandoned the project for the moment. No roadmap,no news about exchanges, no news about the integration with TRAXSOURCE, no real dates when they communicate Only promises. I think they did on puropose to let the price go down" Dev: Categorically not true. Why would we want to kill the value of our own project and upset the entire community at the same time? We’d lose all round! If anything, it's posts spreading FUD like this that could be having negative effects on the price. Of course it's your right to say whatever you want if that's what you believe, just don't expect anything positive to come of it if you do though.
User: "sometimes I think they are professionals and they know what they do, other times I think they are naive and lacking in experience", "i think they are just to slow for crypto business", "I feel like the project is being run by arrogant musicians rather than business folk with common sense", "honestly I dont think we can expect anything from Linx" Dev: How are these comments at all helpful or constructive? Insulting our project management, our team's characters' and our abilities has no value and is nothing more than that - throwing insults. Not only is it unhelpful but it’s irresponsible to the rest of the community. These forums were set up for supporters of the project. Please remember that they are also accessible to any potential exchange or business partner. Anybody that uses these forums to simply slag off the project and the team are undermining all of our efforts and the efforts of the rest of the community to move the project forward, not to mention the negative effects comments like this will have on new members joining.
User: "They have said many times their least concern is the investors" Dev: Of course we are concerned that people have put their faith and trust in us and we aim to deliver, but if you want us to make a choice between working on making this happen or spending our time posting pointless updates to keep speculators happy the work will win every time.
We all win when we achieve what we've set out to do and then you guys start shouting about how great it is and inviting people to see for themselves. We've taken onboard the valid criticisms about the lack of communication and are actively rectifying that.
User: "You don't have to do things just to tick them..." Dev: So you want us to lie then? Wrong project.
User: "I doubt linx really want to avoid the crypto community and not understand the importance of community support, but their stance is that they only want hype when the hype is supported by fact. After being burnt by their own mini-hype they are even more conservative in leaking info now." Dev: 100% correct. It has never been our intention to cut the crypto community out, if that were the case we would have just got on and done our thing without even bothering to tell anybody about it until we were ready to go.
We are all too aware of what "community" can sometimes mean in the crypto space. We know there are many of you that support our vision and are very excited, as are we, about what we are trying to achieve, but sadly this doesn't ring true for lots of others. We're not naive, we know a lot of you are here to make money and then move on to the next thing. That's absolutely fine, but don't get that confused with "community support". What we have tried to do from the start is minimise the hype/fud that "communities" rely on as our goal for this project is much more than to just be another coin sitting on an exchange. We are building something that we hope will revolutionise the way assets change hands in our industry (the music business). This is why we haven't subscribed to the same tactics that some other crypto projects use. We know we have something here and we believe we can make this happen. We don't need, or want, people shilling the project based on future promises. We brought this project to the crypto community to give those of you that liked the sound of what we are planning the chance to get involved and support it early. We knew we were a way off from realising most of our goals which is why we haven't hyped it yet.
User: "hard questions require harder answers" Dev: Couldn't agree more, let's do it!
User: "1. Rapidly improve the entire approach to communications and remove all previous lead dev arrogance.” Dev: Communication criticisms have been taken on board, hence the regular Q&A. Lead dev arrogance? What is your reason for this comment? Please expand.
User: "2. List the coin on many many more exchanges immediately (Use dev fee if needed and discuss community raised funds).” Dev: As mentioned above, Linx has been submitted to many exchanges and the community raised funds issue has also been addressed.
User: "3. Hire more team members (actually use the dev fee / no man is an island)." Dev: So you'd like us to dump our dev fee on the exchanges to hire some more people? What do you suppose that would do to the price and confidence in the project right now? Is this really what you want us to do? We are managing this project responsibly. As explained above, we will expand our team when needed.
User: "4. Set out a new clear product roadmap that is achievable, and stick to it. This is just software, break it down and get it out there.” Dev: We have a roadmap. This isn't just "software". We are talking about opening up the crypto space to an entirely new market here. The marketing and branding of this project is just as, if not more, important as the "software".
User: "5. Stop creating more hidden sub projects / idealistic dreams, this will hurt the overall brand and project long term, if the mic cable gets pulled out again inadvertently.” Dev: You mean like issuing a new roadmap?
User: "6. Think about strategy, security and data privacy, way in advance (GDPR re: linx social platform api usage - should have seen that a mile off).” Dev: Security and privacy have been utmost in our thinking since day one. It's one of the reasons we created Linx in the first place. It's also why we shut down our web wallet. With regards to GDPR we have been fully compliant since the first line of code was typed. What we couldn't account for was how the big social platforms were going to limit, or in some cases entirely lock down their API’s due to GDPR. We've had to make adjustments based on ongoing changes being made to these platforms, as will any other platform using API’s in this way. As mentioned in the last Q&A this has actually pushed us in another, much bolder direction than we first anticipated. It's just going to take a bit longer to realise it.
User: "7. Release the new 2.0 source code and talk about it with your community." Dev: The new source is coming and there will be a full update about what's changed when it's released.
User: "8. Do more Q&A’s." Dev: Hello :)
User: "9. Listen to and work with your community (crypto or otherwise) there is much intelligence in mass. Do not ever alienate them again, these are your fans, holders and miners, keeping your network secure. Without them, this will be doomed to the bedroom.” Dev: We are well aware of the importance of the miners that secure the network. We chose a POW algorithm to ensure that Linx could involve the entire crypto scene. We also value the support of the community when it's real support or valid criticism, and not just bitching because their planned pump and dump didn't pay off. As you can see, we will happily address any valid question or criticism. But we're not going to pander to people that are simply insulting us.
User: "10. Keep positive." Dev: Why would we not be positive? It does wonders for our team moral reading comments from our "supporters" about how useless we are, it really encourages us. Seriously though, If you really mean this and want us to keep positive then you the community can help with this. Insulting us, spreading FUD & general negging is not the way to help with positivity.
submitted by CryptoSaul to LINXcoin [link] [comments]

How BFX Coin might be a remotely feasible way for Big Blockers to Gain an (albeit indirect) voice in Blockstream

Zane Tackett, Director of Community & Product Development for Bitfinex Limited, recently gave a Q&A style interview on the Whale Club Team Speak.
The interview has made the rounds on Reddit and elsewhere. But, some people may have missed one of the most useful nuggets of information he gave up. At about 20:09 of the recording below, Tackett indicated that Bitfinex has investments in Blockstream, Shapeshift, Netki, and Tether.
https://soundcloud.com/user-173875295/bitfinex-itself-will-not-be-taking-a-haircut#t=20:09
The tidbit on Bitfinex’s stake in Blockstream creates some very interesting possibilities vis-à-vis the newly introduced “BFX” token. As has been stated in the most recent Bitfinex press releases, user accounts are being credited with "BFX" tokens in the amount of the 36.067% haircut on the basis of 1 BFX per $1 USD lost in the hack. The press releases have stated that Bitfinex will allow trading of the BFX tokens (except that such trading will possibly be restricted for U.S. residents), and that the BFX tokens "will remain outstanding until redeemed in full by Bitfinex or possibly exchanged—upon the creditor’s request and Bitfinex’s acceptance—for shares of iFinex Inc."
So, here are the questions that jump to the forefront at this point:
Given that Bitfinex probably encompasses many related entities that do, and own, different things; what does "iFinex Inc." actually own?
Will Bitfinex create some kind of timeline or set of conditions defining when they would allow conversion of BFX tokens into iFinex Inc. shares or will they just perpetually withhold acceptance of conversion until they can (if they ever can) repay the lost money?
Is iFinex Inc. the entity that holds the investments in Blockstream, Shapeshift, Netki, and Tether? How big are the investments in those entities?
If iFinex Inc. does hold those investments, will Bitfinex alienate the investments in those entities from iFinex Inc. prior to allowing conversion of BFX tokens into iFinex Inc. shares?
If Bitfinex does allow conversion of BFX tokens to equity in iFinex Inc., will they restrict U.S. residents from such conversion for (rightfully founded) fear that the SEC will deem this a securities offering to non-accredited investors (of which there are surely far too many among the BFX token holders)?
Let's say iFinex Inc. does hold the investments in those entities and some BFX Token holders (maybe even some large ones) are able to convert to iFinex Inc. shares. Could this open the door for bitcoin big blockers to acquire indirect control over some shares of Blockstream and become activist (although indirect) shareholders in the corporate entity of their mortal enemies? Could big blockers even aspire to pool their funds to aggregate the soon-to-be-tradeable BFX tokens on the open market in the hopes of buying a more unified indirect voice in Blockstream? Would the BFX tokens even amount to a large enough percentage of iFinex Inc. shares to influence iFinex Inc.'s use of its stake in Blockstream? Given that Blockstream's Series A funding round was $55 million and its seed round was $21 million, does Bitfinex's stake in Blockstream even matter (i.e. are we just talking about a minority stake in a meaningless super minority stake)?
If those last points are even remotely significant, can we expect Blockstream to start breathing down Bitfinex's neck to prevent the conversion of those BFX tokens?
Just a few things that jumped out at me. So many interesting questions here. I'm curious to see how it all plays out.
Edits: spelling, clarity, & grammar.
submitted by tap21x to btc [link] [comments]

Project Blockchain Valley

PROJECT BLOCKCHAIN VALLEY
My name is Morgan Rockwell, I am CEO of Bitcoin Kinetics Inc. Now founder of Kinetics - Blockchain, Automation & Energy. I created the first Bitcoin Operated Service Machine to allow Bitcoin to be used in the real world in all machines & businesses. We are rapidly expanding & growing into new territories, industries and concepts to help build the Bitcoin & Blockchain based industries into a competitive & profitable environment. We have began the process of issuing equity on the NYSE in New York City. We have purchased a new building to house the buildings office & factory. We have made several partnerships with many Bitcoin Business Leaders, Ethereum, Micro-controller & Chip Makers, DIY companies and many more important players in the new technology industries. We now need your help before we are forced to ask help from the banking sector, tyrants or billionaires..
We now need 10000 Bitcoins to create the greatest Bitcoin Based Economy the world will ever see, including the first Bitcoin Town... Ill give you keys to the company, all of the equity, I do not want a dollar.
There will be always be a loan offer out there for the purchase of the main street property of 1000 BTC for immediate purchase & payback with base interest rate of 15% on the 1000 BTC - giving 1150 BTC payback in 5 years or equivalent in USD value of equity in the corporation we are creating to be listed on the NYSE. When that loan contract is fulfilled by someone there will be another 1000 BTC loan contact available within 7 days for someone else to bid on. The bidding price will be based on a lower competitive interest rate and this will be done Over The Counter through personal communications.
We require an immediate range of 7000-10000 BTC to build the entire region into a fully functional Blockchain based industry zone. This will be self sustaining in regards to energy consumption & economic production. A am building partnerships with many smart people, strong businesses and influencers in industry to get these goals accomplished. I need the lending community, the Bitcoin community, the cryptocurrency communities to help make Blockchain Valley become a reality.
Anyone up for that offer? It would be able to change the world if you can contact me & send me that I have contracts ready and waiting.
This is where the future begins.
Along side that move a NEW company is created, to compete with the likes of Google, Apple, GE, Visa & CHASE. It will be called "KINETICS Inc".
Kinetics - Blockchain, Automation & Energy www.Kinetics.cc
KINETICS is facilitator of several Bitcoin & Blockchain projects including:
KINETICS is going to be incorporated in Delaware as a C Corporation. The fully functional business such as #BitcoinKinetics, #BitcoinAcademy & #Axiomity will be managed, funded and operated by KINETICS Inc.
KINETICS Inc & Bitcoin Kinetics Inc will both be located at our new shop in Upper Lake, CA in Lake County.
9450 Main St, Upper Lake, CA 95485
This buildings rent is $800 per month, to be reduced from $200,000 price for full cash purchase of property. I have plans to purchase the entire building full cash in the next 90 days, until then i'm moving in 7/13/2014 SUN & paying rent to own for 90 days. I have been told I can purchase the entire block including over 20 different store fronts, garages, a bank, a post office, a saloon, a large antique shop, several window display store front shops and even large areas of land for crypto mining data centers, fields of solar panels & wind generators, as well as the fact that all of California's fresh water is within 2000 yards of the building in several lakes. There is over 100,000 sq ft of empty store & office spaces on the main street. All of it has been personally offered to me.
We are committed to partnering with #TeslaMotors to convert the old gas station into a Tesla Super Charger Station equipped with SuperChargers, solar power & a lounge to busy the drivers as they charge their vehicle. We will be creating a Bitcoin ATM friendly lounge where customers can purchase all things Bitcoin, Hardware & even use Bitcoins at all the local shops. Ill be putting www.CryptoCrates.com in one of the shops on the block giving the worlds first Bitcoin Record Store a physical location.
There are now many possibilities with this HUGE opportunity here before us all. We are in talks with #Ethereum and several lenders, venture capitalists, bankers & Bitcoin investors to make this dream of a physical Bitcoin world a reality. We can turn Upper Lake into the start of what will be the home of #BitcoinTOWN, a place where all Bitcoin Business will want to come and have their offices. Eventually growing into a "#BlockchainValley"
There is so much money involved & needed for this long term 100 year plan, In the next 10 years up to 10,000 BTC will be needed to pay:
If you build it, they will come.
There is much to be done, its is all the start of jobs, money & Bitcoins value going to the moon. Building something in the real world with Bitcoins lending technology.
I have over 15 years of construction, civil engineering, electrical engineering & business development. I am the best human on earth to get this mission accomplished and to get the job done. We are in a state ware Bitcoin is now legal tender, the time is NOW. I can make everything happen, i talk well, i don't sleep and work non stop until the goal is reached, i have networked with everyone from the rich to the poor, to the entire Bitcoin community. This is an opportunity to be within 1 1/2 hours of San Francisco and 2 hours from Sacramento. This deal with Tesla Motors gives me the ONLY charging station in this North California region giving the loop from San Francisco, Mendocino, & The i5 to Sacramento a complete loop allowing the Tesla vehicles to travel up into the Forest Area. This will bring HUGE revenue, HUGE partnerships & many many new Bitcoin users and Kinetics customers will all be flocking up from San Francisco to the new land of Bitcoin...
All of you should help us and ill personally make you a very rich Bitcoiner, and you will save the world from fiat, from centralization & from tyranny...
To purchase the main street property only need 1000 BTC as soon as possible with 1150 BTC payed back in 5 Years. That is a 15% payback on a 1000 BTC loan that can be bid on by lenders If you can even participate in this loan in fractions, partial or full, please contact us ASAP as moves need to be made immediately. This allows us to acquire the main drag of Main Street, Upper Lake, CA and all of its shops.
We will convert it into a Solar Roadway/SolarCity filled block, with Bitcoin ATMs on every corner, Bitcoin Laundromats, Bitcoin Bank, Bitcoin Friendly Shops, A Blockchain Node in every business, A Tesla Charging Station right in front of the 1920s original Gas Station, a Restaurant Called Satoshi's Grill, with 5 star Chefs already ready to join the team, a record and music shop that takes all crypto currency, The Bitcoin Academy giving a local education center for all to access the newest information, technologies and educators, a Coffee shop friendly to all things Bitcoin & The Blockchain, giving rise to Bitcoin Gift card usage, lounge environment with data center tools. The entire town will have a 4G tower system with the first going behind the Gas Station in the yard & FREE WIFI, LIFI & MESH networking covering the entire area.
We ask you the #Bitcoin Community for funding before we ever ask a Banker, so please help us before we are forced to go ask Goldman Sachs for fiat... The community can gather 1, 10, 100, 1000 or 10000 Bitcoins to make Bitcoin usable in all machines. As a loan of 15% would be very helpful to us and to you in circulating Bitcoin & funding this community venture.
Contact us if you are willing to support this new venture as time is of the essence, moves need to be made NOW, and your Bitcoin's future depends on people like us & you giving Bitcoin real world use. Help us bring the future into the now...
THE BITCOIN TOWN / BLOCKCHAIN VALLEY PLAN
These 10 Phases will take money, people, passion and motivation. Time will only get in the way if you don't become involved with both your Bitcoin, Your Mind, & Your Sweat, Blood & Tears. We will help make this a reality, but first comes capital, participants & the plan. We are all here to help grow into a better world, Bitcoin gives us that last chance for humanity to stand up and shake off its slack. If we can come together and show the world how this technology works in the real world, the planet will see, it will feel, it will hear and know Bitcoin as reality. Over night the world can change if we put out foot down, take a stand, and create the world as we see it to be. People are at war, starving and suffering in the most horrible ways, all I personally can do is fight the good fight with Bitcoin in my hand, there is a chance now for us to have sanctuary and a place to build our plan of attack from. We now have shelter, not just for Kinetics, but for the entire Bitcoin community of users, businesses & investors. You all now will have a safe and friendly place to live, work, shop, learn and grow...
I thank you for your time and your care for the world. Thank You.
MORGAN ROCKWELL
Lets get this ball rolling now...Time is running out...
Learn More About Me, Who I Am, What Im About, Bitcoin Kinetics Inc & The Future Im Creating:
Morgan Rockwell - CEO
submitted by bitcoinkinetics to BitcoinKinetics [link] [comments]

Kinetics - Blockchain, Automation & Energy

PROJECT BLOCKCHAIN VALLEY
My name is Morgan Rockwell, I am CEO of Bitcoin Kinetics Inc. I created the first Bitcoin Operated Service Machine to allow Bitcoin to be used in the real world in all machines & businesses. We are rapidly expanding & growing into new territories, industries and concepts to help build the Bitcoin & Blockchain based industries into a competitive & profitable environment. We have began the process of issuing equity on the NYSE in New York City. We have purchased a new building to house the buildings office & factory. We have made several partnerships with many Bitcoin Business Leaders, Ethereum, Micro-controller & Chip Makers, DIY companies and many more important players in the new technology industries. We now need your help before we are forced to ask help from the banking sector, tyrants or billionaires..
We now need 1000 Bitcoins to create the greatest Bitcoin Business the community will ever see, including the first Bitcoin Town... Ill give you keys to the company, all of the equity, i dont want a dollar. The loan for the purchase of the main street is 1000 BTC for immediate purchase & payback with 15% on the 1000 BTC - giving 1150 BTC payback in 5 years.
Anyone up for that offer? It would be able to change the world if you can contact me & send me that I have contracts ready and waiting.
This is where the future begins.
Along side that move a NEW company is created, to compete with the likes of Google, Apple, GE, Visa & CHASE. It will be called "KINETICS Inc".
Kinetics - Blockchain, Automation & Energy www.Kinetics.cc
KINETICS is facilitator of several Bitcoin & Blockchain projects including:
KINETICS is going to be incorporated in Delaware as a C Corporation. The fully functional business such as #BitcoinKinetics, #BitcoinAcademy & #CoinCanna will be managed, funded and operated by KINETICS Inc.
KINETICS Inc & Bitcoin Kinetics Inc will both be located at our new shop in Upper Lake, CA in Lake County.
9450 Main St, Upper Lake, CA 95485
This buildings rent is $800 per month, to be reduced from $200,000 price for full cash purchase of property. I have plans to purchase the entire building full cash in the next 90 days, until then im moving in 7/13/2014 SUN & paying rent to own for 90 days. I have been told I can purchase the entire block including over 20 different store fronts, garages, a bank, a post office, a saloon, a large antique shop, several window display store front shops and even large areas of land for crypto mining data centers, fields of solar panels & wind generators, as well as the fact that all of California's fresh water is within 2000 yards of the building in several lakes. There is over 100,000 sqft of empty store & office spaces on the main street. All of it has been personally offered to me.
We are commited to partnering with #TeslaMotors to convert the old gas station into a Tesla Super Charger Station equipped with SuperChargers, solar power & a lounge to busy the drivers as they charge their vehicle. We will be creating a Bitcoin ATM friendly lounge where customers can purchase all things Bitcoin, Hardware & even use Bitcoins at all the local shops. Ill be putting www.CryptoCrates.com in one of the shops on the block giving the worlds first Bitcoin Record Store a physical location.
There are now many possibilities with this HUGE opportunity here before us all. We are in talks with #Ethereum and several lenders, venture capitalists, bankers & Bitcoin investors to make this dream of a physical Bitcoin world a reality. We can turn Upper Lake into the start of what will be the home of #BitcoinTOWN, a place where all Bitcoin Business will want to come and have their offices. Eventually growing into a "#BlockchainValley"
There is so much money involved & needed for this long term 100 year plan, In the next 10 years up to 10,000 BTC will be needed to pay:
If you build it, they will come.
There is much to be done, its is all the start of jobs, money & Bitcoins value going to the moon. Building something in the real world with Bitcoins lending technology.
I have over 15 years of construction, civil engineering, electrical engineering & business development. I am the best human on earth to get this mission accomplished and to get the job done. We are in a state ware Bitcoin is now legal tender, the time is NOW. I can make everything happen, i talk well, i don't sleep and work non stop until the goal is reached, i have networked with everyone from the rich to the poor, to the entire Bitcoin community. This is an opportunity to be within 1 1/2 hours of San Francisco and 2 hours from Sacramento. This deal with Tesla Motors gives me the ONLY charging station in this North California region giving the loop from San Francisco, Mendocino, & The i5 to Sacramento a complete loop allowing the Tesla vehicles to travel up into the Forest Area. This will bring HUGE revenue, HUGE partnerships & many many new Bitcoin users and Kinetics customers will all be flocking up from San Francisco to the new land of Bitcoin...
All of you should help us and ill personally make you a very rich Bitcoiner, and you will save the world from fiat, from centralization & from tyranny...
To purchase the main street, we only need 1000 BTC Immediately with 1150 BTC payed back in 5 Years. That is a 15% payback on a 1000 BTC loan. If you can even participate in this loan in fractions, partial or full, please contact us ASAP as moves need to be made immediately. This allows us to acquire the main drag of Main Street, Upper Lake, CA and all of its shops.
We will convert it into a Solar Roadway/SolarCity filled block, with Bitcoin ATMs on every corner, Bitcoin Laundromats, Bitcoin Bank, Bitcoin Friendly Shops, A Blockchain Node in every business, A Tesla Charging Station right in front of the 1920s original Gas Station, a Restaurant Called Satoshi's Grill, with 5 star Chefs already ready to join the team, a record and music shop that takes all crypto currency, The Bitcoin Academy giving a local education center for all to access the newest information, technologies and educators, a Coffee shop friendly to all things Bitcoin & The Blockchain, giving rise to Bitcoin Gift card usage, lounge environment with data center tools. The entire town will have a 4G tower system with the first going behind the Gas Station in the yard & FREE WIFI, LIFI & MESH networking covering the entire area.
We ask you the #Bitcoin Community for funding before we ever ask a Banker, so please help us before we are forced to go ask Goldman Sachs for fiat... The community can gather 1, 10, 100, 1000 or 10000 Bitcoins to make Bitcoin usable in all machines. As a loan of 15% would be very helpful to us and to you in circulating Bitcoin & funding this community venture.
Contact us if you are willing to support this new venture as time is of the essence, moves need to be made NOW, and your Bitcoin's future depends on people like us & you giving Bitcoin real world use. Help us bring the future into the now...
THE BITCOIN TOWN / BLOCKCHAIN VALLEY PLAN
These 10 Phases will take money, people, passion and motivation. Time will only get in the way if you don't become involved with both your Bitcoin, Your Mind, & Your Sweat, Blood & Tears. We will help make this a reality, but first comes capital, participants & the plan. We are all here to help grow into a better world, Bitcoin gives us that last chance for humanity to stand up and shake off its slack. If we can come together and show the world how this technology works in the real world, the planet will see, it will feel, it will hear and know Bitcoin as reality. Over night the world can change if we put out foot down, take a stand, and create the world as we see it to be. People are at war, starving and suffering in the most horrible ways, all I personally can do is fight the good fight with Bitcoin in my hand, there is a chance now for us to have sanctuary and a place to build our plan of attack from. We now have shelter, not just for Kinetics, but for the entire Bitcoin community of users, businesses & investors. You all now will have a safe and friendly place to live, work, shop, learn and grow...
I thank you for your time and your care for the world. Thank You.
MORGAN ROCKWELL
Lets get this ball rolling now...Time is running out...
Learn More About Me, Who I Am, What Im About, Bitcoin Kinetics Inc & The Future Im Creating:
Morgan Rockwell - CEO
submitted by bitcoinkinetics to BitcoinKinetics [link] [comments]

How to convert BITCOIN directly to your CreditCard - Easy method - 2019 Electroneum Rises AGAIN! Lets see why! How to exchange bitcoin to payoneer instant EB60 - Robert Sams: Bitcoin, Volatility and the Search for a Stable Cryptocurrency Bitcoin UX & Marketing with Dan Held

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How to convert BITCOIN directly to your CreditCard - Easy method - 2019

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