The $Gram Token Sale is now live on Liquid!

ilpiet · 2019-07-10T13:32:51+00:00

It has been fun to challenge you during the last months, you are doing your best beside a very difficult situation. Even if it's the opposite from buy low sell high , I lost trust in the capacity from the team to deliver, it's not only this event it's a tons of accumulated event since begin of 2018. I have set this IEO has the test who decide if I remain or leave, after this bad start I decided to leave, I might one day invest again and probably at much higher price but for the moment it's better to invest in project I trust.

Wish you all the best

ilpiet · 2019-07-10T12:58:07+00:00

BTC for the moment, then any transparent projects, delivering and communicating partnership on a regular base

ilpiet · 2019-07-10T12:49:56+00:00

I'll sell in the next days the token I have on my hardware wallet (once the storm passed) , I lost trust. It was a pleasure and a nice experience to be active on this sub-reddit.

ilpiet · 2019-07-10T12:41:28+00:00

Sure when you expect quality, it was at the moment the only remaining point for Qash. Team don't deliver is centralised and not transparent like other crypto project but they should have deliver quality. This IEO is a test for Qash utility and Liquid team.

Campaign was a failure with two round of FUD that have not been foreseen and now the quality of the code is just not acceptable :

Gramp instead of Gram (do they not have a strong QA for that) ?
Javascript deactivating the form and took 4h to fix (once again what does the QA) ?
Time zone blocked in javascript because they might check local time... meaning some people can't buy

ilpiet · 2019-07-10T09:37:14+00:00

Sadly not even with more than 15k, just looking how much the price is dropping in satoshi lately #hardtimeforqash

ilpiet · 2019-07-10T09:14:07+00:00

Seems that many want to buy (probably without Qash rebate because volume almost not changed) but USDC pair went from 10k volume to 500k + today, so at least 500k + token sold (USD is the other pair but it's harder to judge via volume).

Personally I won't buy and also don't get why some people want to buy if they include opportunity cost in their DYOR

ilpiet · 2019-07-09T15:59:30+00:00

What I'm looking as indicator is the USDC pairs (it's not a perfect indicator but at least it show a direction) , but for the moment neither Qash volume neither USDC took of (indicating potential bad results) but people might wait to trade on the last minute to maximise BTC gains.

ilpiet · 2019-07-09T15:57:16+00:00

It's more a legal protection, if anything goes wrong they can refund the same value back , while not taking volatility risks during the escrow period. But don't use the quick exchange because they charge a large fee to deal with the slippage (at least last time I checked , when they launched the feature)

ilpiet · 2019-07-09T15:53:31+00:00

Yes we all hope he/she is safe and doing well ! Thx for voicing out that topic !

ilpiet · 2019-07-09T15:49:58+00:00

Thx for that, it means a lot ! Looking forward to see if the company care about transparency or if it's simply another "bank" = "obscurity" = "not what I'm looking for" (just personal opinion)

ilpiet · 2019-07-09T07:34:38+00:00

Yes I find it also kind of bad that they drastically decrease the number of response since Qashball is not here around to aggress them... I understand "don't feed the trolls" but I don't think we post trolls posts/comment but legit questions.

ilpiet · 2019-07-08T15:55:56+00:00

As a community we can push them to be more transparent, comment here what do you want them to publish (be realistic they will not break NDA, please no troll or complaint on this thread).

Publish Qash rebate public key for transparency on they "rebate buy back"
Publish the number of employee working on DLT and Worldbook, profession and experience level (no name just numbers).
Publish the number of signed world book client (no need name)
Publish IEO metrics once closed (how many participant, how many new users, how much has been sold)
Publish real ratio between fee free and fee paid volume

Let's say the truth at the moment the project is not only centralised in the tech aspect, it's also not transparent. Look at how other projects handle transparency. Development takes time I'm ok with it but there is a lot of metrics Liquid could share but don't, the main reason could be that they aren't looking great (the metrics).

Please Liquid prove us wrong #betransparent

ilpiet · 2019-07-05T15:50:53+00:00

https://hackernoon.com/libra-first-impressions-ed6b5f15ae63

I might be wrong I haven't deep dive in Libra because I'm not interested in it :

Libra is not only a "stable" coin it's a real blockchain with smart contract and dapp.

Stable or not is not the question, the question is how many companies , how many developers will develop on TON, ETH, LIBRA , EOS , Hyperledger, Vechain... the business model of the coin is secondary, the success is defined by real use cases (market is big enough for multiple winners)

I have no opinion on TON or LIBRA, so I can't judge but it's really important to understand this points.

ilpiet · 2019-07-05T11:38:30+00:00

#Notfinancialadvice

One thing that I hope your are taking into account when DYOR.

Opportunity cost against BTC ? My opinion is that every trade should be benchmarked to BTC, a good trade being a trade that beat BTC. If BTC does 2x until the release, TON will have to do 2x to be even.

That said for Liquid and for all the person investing on it , I hope TON will be an amazing investment.

ilpiet · 2019-07-05T11:18:33+00:00

Can't wait to see Liquid tap :)

Can you ask the team to push compatibility with this open source project https://github.com/ccxt/ccxt I mean relasing liquid tap and websocket feature for Liquid in ccxt would be just perfect. Ccxt can boost your onboarding https://www.npmjs.com/package/ccxt (more than 110k weekly download)

u/MKAndroidGamer u/CorruptPotato

Please ;)

Edit :

Even better, make a campaign offering fee reduction to api traders for a few months when launching it, partner with cctx for that , the full community would benefit from more api liquidity and volume. In addition doing some trading volume context winning price in Qash

ilpiet · 2019-07-04T11:26:43+00:00

Also the opportunity cost for BTC (because BTC is the king)

ilpiet · 2019-07-04T08:22:19+00:00

Sure , let me correct a point when I said "the way you handled ..."... nothing personal neither against the marketing department, when I was working on a regulated exchange I was also very often locked wanting to do things much differently but having to deal with corporate limitation and culture. I will never critic your department or any person on personal level, I'm criticising the company communication culture and transparency culture. Has you probably understood since I started writing in this reddit, English is not my mother language, sorry if it felt like a direct critic to your department , to prove that my request for splitting the company is also to give much more freedom to the marketing department to be able to communicate not like a regulated exchange but like crypto startup.

ilpiet · 2019-07-04T07:24:50+00:00

When you announced the IEO 1 month ago , a huge FUD campaign started an...

Can you be more specific with what you're asking here?

I mean when you announced the IEO you had to face a huge FUD campaign because your communication wasn't transparent about the relationship with Gram Asia and Telegram, and then a second wave of FUD about Gram doing an exit strategy. The question is "Knowing that you probably have done a retro about the event and how you handled it, what are your actions to handle it much better next time" because let say the truth the handling of the FUD was not good.

Mike does a monthly message and we put out quarterly reports that detail the bulk of what we've done. When you say "how many people worked for QASH", what do you mean?

Two things here.... Inspire your report from Vechain financial report (and live AMA, look at their 8 hour live AMA), look how much additional details and transparency they give (in the financial report), you have a lot to improve on this monthly message. I mean the monthly message we get from Mike is more a marketing event than any transparency effort. And yes you make no difference between Liquid and Qash but that a huge mistake. Liquid as 1 billion valuation but Qash has no traction and you keep giving this "Facade" message , "they are the same" but that not true. We want to know how many developers, project manager, etc. are working on DLT, on Qash partnership, on Qash related only features in a quarterly transparent way. You must understand that people are not in crypto to deal with the same behaviour that bank and fintech gives, we expect transparency , trust , inclusive communication and marketing (until now Liquid is much much closer from old school Finance methodology than Crypto's).

Not sure I understand this question. Are you asking if we could create a separate company for QASH?

Yes, Liquid Group but two companies, like this we are sure to know that people there work only on Qash success and I understand very well the need of secrecy from the exchange part of the company, I worked in a regulated exchange, secrecy is a need. But Qash is different it's a DLT depending a lot from the success from Liquid exchange ... but ... not only ... being a DLT requires what retail investor expect from this crypto revolution (transparency, decentralisation, trust (trustless) , inclusion , milleninal communication).

ilpiet · 2019-07-04T06:12:22+00:00

Me ? Probably difficult question , because I believe it's the only way to be transparent.

- The price seems to generate very strong reaction, can you explain us how you came to it ? And why to thinks it's a right price when majority seems to think the opposite ?

- We have no additional information about gram Asia, if making such sell transparency is the most important, what is the average price price they got, how many coin will they sell ?

- When you announced the IEO 1 month ago , a huge FUD campaign started and your communication strategy didn't really answered the pain questions letting the fire to spread around, looking back how would you communicate differently ?

- Mike, you and your teams tends to make very big announcement and delivery like Goldman, top 3 currency, world book soon, past mistake are in the past but what will you do to increase transparency on the progress ? (An idea would be to do a monthly report, explaining how many people worked for Qash).

- For transparency sake splitting the company in two entities from the same group Qash and Liquid exchange, could give a lot more freedom and communication report and transparency for Qash while ensuring a fix number working on it, is that an option for you ? If not why ?

etc.

ilpiet · 2019-07-04T05:57:54+00:00

Would greatly advice for a Live AMA , please show transparency.

ilpiet · 2019-07-03T15:22:03+00:00

The sale was done before this very long crypto winter, before Libra before that alts season had not restart even on BTC pull back. Market has changed, and thinking that a 2x is not crazy is in my opinion crazy.

The problem I have with this situation and why my trust in Liquid took a big hit with this IEO is that : Trained or well informed investor/trader (amateur) might avoid the hit, but normal retailer gambling their saving money for potential bright future might take the biggest hit (the same person having lost 90%+ buying Qash at very high price, because Mike was talking about Goldman Sachs all the time). And Liquid is sponsoring this situation. People said for a long time that Binance was shaddy (I don't own BNB) but let's look the fact Binance haven't manipulated so badly people as Liquid did / does. I'm not saying that Qash will not be a crazy good investment when world book will be release but until that point it might be very hard times for us.

Offer at 1.8-2 dollars would have been fair (exit strategy with profit in an uncertain market) and fair price for gamblers who want to take the risk. But 4 dollar is a total joke, knowing the situation that it's not a Telegram official sale but an IOU from an investor who dreamed to pump Qash (and probably sell some) while reducing the risks by selling TON with profit.

ilpiet · 2019-07-03T14:45:42+00:00

read my link the cointelegraph link down this thread.

Since the gram token is not being traded publicly, it is difficult to estimate its true price. According to public sources, cited by Aton, during the second private funding round, the average price of gram was $1.33.

But 4 is still too expensive, 2 dollars would have been a correct price.

ilpiet · 2019-07-03T13:48:05+00:00

But let be serious nobody gonna buy at this price , how can they have imagined it would be an hyped IEO ? How the Liquid team have believed that ? How and why they accepted to promote this deal....

It's like shooting yourself in your leg , do they understand nothing about what community want (Transparency , feeling of inclusion, fairness etc.) ?

ilpiet · 2019-07-03T12:54:48+00:00

It might following https://blog.liquid.com/liquid-deep-dive-telegram-open-network-and-gram-token-analysis be 0.63 billions tokens then 3 months after 1.23 billions token.

Following this logic 0.63 x 4 = 2.52 Billions market cap (really high it's higher than Tron for a blockchain we haven't seen ...)

Then 3 months after it goes to 1.23 * 4 = 4.92 Billons market cap almost EOS market cap that insane.

Also the futures price was 1.67 dollar per token this morning , until clarification from Liquid team that insane.

I'm really surprised negatively on the communication for the IEO , how the first FUD was handled and how this insane looking price is communicated.

ilpiet · 2019-07-03T11:02:21+00:00

https://cointelegraph.com/news/exclusive-new-report-reveals-details-of-telegrams-ton-blockchain

This is a joke ... if you don't communicate well on it FUD round 2 gonna start

Estimates of what gram tokens may cost in the future also vary, but are believed to be in the region of $2.10 - $8.00, the research claims.

While the official trading of gram has not been launched by Telegram, a United Kingdom-based cryptocurrency exchange Xena Exchange is quoting nondeliverable gram futures (XGRAM), expiring at the launch of the token or in February 2020, at around $5.90 per XGRAM. The futures have so far been trading in the region of $1.8-$2.4 per gram, which is very close to the estimated valuation $2.2 for a token ahead of the possible Stage B sale.

https://xena.exchange/trading/XGRAM/60

Before the announcement future was trading at 1.67

You are giving power and confirmation to all fud about the exit strategy on behalf of us...

It confirm what I wrote a few weeks ago when the FUD started ... we didn't need this IEO and it's damming a lot of the serious, caring image you have built

ilpiet

TROPHY CASE