Quote from: Bytales on March 31, 2018, 01:39:40 PM

I have some questions, regarding this X8X Coin.

So basically X8X is the means through which one can aquire X8C, whereas the X8C can be seen as a SAFE means to store value.

Lets consider the folowing example.

X8X is worth 5 EUROs at Exchange and i own 20.000 X8X, which in turn would worth 100.000 EURO
Now i want to "back UP" These 100k Euros.

I give the 20k X8X to you, and i receive a certain amount of X8C token, which presumably, has a fixed value.
Now when i give you X8X worth of 100k EUROS, you basically issue a certain number of X8C, and hold the 100k EURO, naturally, spread over 8 different fiats and Gold.

But wait, you dont actually receive the 100k EUROs i give you, you only receive 20.000 X8X, that you somehow Need to convert in 100.000 EUROs worth of 8 Fiats and GOLD, for the issued X8C to be actually be backed up by 8 fiats and Gold that are worth 100k Euros, that means you will Need to dump the 20.000 x8x back in circulations where other will be buying it, for their other cryptos, or BTC or whatever.

Then what you receive for the dump of 20.000k X8X (lets say BTC), will Need to be somehow converted to said 8 FIAT plus Gold, which will consequently mean a dump of said BTC, which will in turn lower Price of BTC.

This is how i see the System would work, or am i teribbly mistaken ?
And that is where my question comes !

How are you planning on filling the basked with 8 fiats plus Gold, that serve as collateral for the X8C coins you are issuing ?
Naturally when someone cashes out from X8C coins, you give them whatever fiat or Gold they want, and you burn said number of X8C Tokens.

Or are you planning on filling the basket yourself by allowing People to purschase X8C directly with said 8Fiats plus Gold, thus collecting liquidity, for when People trade in X8X ? That would also not work, because say you gathered 10 mil Fiat/Gold, and you issued 10 mil X8C, now someone comes and exchanges 10k X8X for 1000 X8C, and you give them 1000 X8C, and now you have issued a total of 10.001.000 X8C, but you have in basked only 10 mil Fiat/Gold, you know what i mean ?

I would like to have some answers to this simple matter. Perhaps i will invest then.

Hey. Let me correct your way of understanding X8C.

You don't purchase X8C with X8X. You need X8X on your X8 AG account so you can obtain X8C without any fees. You still purchase X8C with cash or later with ETH/BTC.

After purchasing X8C you still have your X8X tokens which get locked for a certain amount of time and after that time you can sell or use them again.

You can purchase X8C on exchanges aswell but you will pay the fee and the price will be the supply/demand one.

After you exit from X8C your X8C tokens get destroyed.

The equation for the amount of X8X needed for X8C is X8X^2 = X8C so for example, with 10 X8X you can purchase 100 X8C(you still keep X8X like explained above).

I recommend reading these two blogs:

https://www.ionectar.com/x8-project-token-model/

https://www.ionectar.com/business-model-of-the-x8-utility-token/

And if you have any other questions feel free to ask or join our telegram channel.