Post
Topic
Board Announcements (Altcoins)
Re: [ANN][Blocknet] The internet of blockchains / XBridge / true cross-chain P2P
by
mxxxxxx
on 27/10/2014, 07:47:24 UTC

You can buy Blocknet tokens using any participating coin.

At Bter and Bittrex there will probably only be a BTC:BLOCK pairing.

At Poloniex there will probably be a BTC:BLOCK and NHZ:BLOCK pairing.

At CoinGateway all the other coins will be paired to BLOCK.

After the ITO, only BTC:BLOCK pairings will be available (because it makes no sense for participating coins to trade against the Blocknet when they function to give value to the Blocknet).



could you please explain how the 10 % discount using any of the participating coins will be managed exactly?
considering for example the nhz:block pair on poloniex when and how will the its price be determined? will it be a fixed price or will automatically adjust to the current btc:nhz price?

You will be able to buy with participating coins at a 10% discount through Coingateway , it is very simple to use

You don`t have to register there , you're given an address to pay your participating coin to, and you enter an address to receive BLOCK tokens

The reason for this is that only BLOCK:BTC pairings will persist after the ITO. Exchanges won't be keen to add a pile of new pairings only to remove them shortly afterwards. Unless exchanges decide to do any additional pairing.

For pricing, we'll pick prices of Blocknet tokens at the start time of the ICO based on a recent average (exact algorithm TBD). Then we'll deduct 10%, and put up a sell wall there.

Any discrepancies in price between coins will be arbitraged by traders, and so the market will converge on a 10% discount no matter what coin you use.

Supply of BLOCK tokens will be distributed accordingly , supplies will be moved from one place to another if it is needed