Quote from: IncentCEO on November 13, 2016, 11:09:26 PM

Quote from: KarlKarlsson_ on November 13, 2016, 10:33:57 PM

Quote from: kalpit on November 13, 2016, 07:51:14 PM

While making purchase, it is important that currency is not volatile.
If a person purchased a good of $ 10 and receives $1 worth tokens at that time.
He goes to another shop after one year, and he finds out that tokens are now worth $0.5 only. This would not be good for customers as they would be at ri?sk fictions price.

So how would you prevent such situation?
Correct me if I'm wrong somewhere in my assumptions.

Incent is designed to increase in value simply by bringing in more and more merchants. This is what we will be working at the most after the end of ICO. Nevertheless, there might be periods in which Incent decreases, as any other currency/asset.

More importantly, however, is the fact that he received 0.5$ spendable in the whole Incent network. We are sure customers will soon appreciate the advantages open value offers them and rate this more important than having lost parts of their reward.

As of now, loyalty points can only be redeemed with the issuer and only then for a finite period. Once live, Incent will be redeemable anywhere, forever. To the holder, they will be 'money good'. This is, to use Peter Thiel's vernacular, a 10x improvement.

Blockchain makes this possible, through creation of token of finite supply aimed at this specific function.

Our thesis is that consumers will love this (open) value proposition and because Incent incurs a fraction of the operating costs and liability of conventional schemes - so will merchants.

The result will be regular and building demand for the token on the secondary market, as more and more merchants adopt - with the associated impact on token price.

Put another way, while the scenario you envisage is theoretically feasible, we deem it highly unlikely. And bear in mind that any conventional loyalty point is worthless - by design - at the one year point. Viewed from this perspective even 50 cents on the dollar is a significant improvement on the current status-quo.

In the meantime, the value proposition for holders of Incent (as a speculative investment) is similarly strong, as the project will see mainstream commerce paying to put crypto into the wallets of mainstream consumers. Every single transaction from every single participating merchant will result in a new demand impulse for Incent on the secondary market.

RW.

I agree that price of incent tokens would increase . It was just an assumption, if price of incent falls.

I agree, current loyalty system is inefficient. But still, many people may not be ready for it, anyhow they will soon adapt.

Still, I hope the incent token price would stable after the initial rise.

One question,
Transactions would go through blockchain, so it would require confirmations.
So, would the customer have to wait for a minute for confirmation transaction