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[ANN] Allvor: cryptocurrency for e-commerce powered by the XRP Ledger


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On 12/04/2018 at 12:05 AM, tulo said:

IT's good to push for ICOs on XRPL, but this looks like a serious scam. If not scam a pump and dump coin.

They can create infinite ALV coins and dump them on the market! Be careful.

Finally!!!!.........i posted this in several threats but nobody understand that they are able to generate billions of new ALV with just a few XRP. 

 

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Thanks for flagging me down!  Here's what I support without question:  ICOs done on the XRPL.  As long as they are legit ICOs, and conform to regulations, they should be done on the XRPL. 

I'm just excited to see a project use the tutorial I made before. I think that this project could be the start of a lot more companies using the XRP ledger specifically for tokens. How smooth tha

I just want to inform you guys: I have succesfully managed to claim my ALV with TEV's method mentioned above for my Nano Ledger S account. Before, I had to extract before my private key for my Ripple

1 hour ago, tulo said:

But the ALV limit is a must!

There's an interesting precedent here. For the present discussion, it's the market psychology that's interesting, more than the technicalities.

Last year, researchers discovered a counterfeiting bug in code that's shared by the CryptoNote family of digital assets. The researchers disclosed the bug to the developers of the various CryptoNote assets, and most of them patched it before it could be exploited. Their honesty is verifiable here, since the total coin-supply of these assets is easy to measure. Howewer, one of the CryptoNote assets — Bytecoin — is  alleged to have been exploited in the interval between private disclosure (to the devs) and public disclosure, with a large number of counterfeit bytecoins being injected into the circulating supply. You might expect that a large number of counterfeit coins would wipe out all demand for the asset, but that didn't happen. The market is so irrational that unscrupulous actions (real or alleged)  by influential players have no cooling effect.

The alleged bytecoin counterfeiting took place in the short interval while no one was watching, so I'm most certainly not inviting comparison with ALV. Allvor have chosen to issue their token on a very transparent ledger, so they couldn't pull off the same stunt even if they wanted to. The moral of the bytecoin story is that markets are astonishingly irrational, whence a dump-on-the market-and-disappear scam becomes feasible if enough people are trading ALVs (as opposed to just claiming them). It therefore makes sense not to buy ALVs until Allvor release more information about (i) their distribution strategy and (ii) whatever total-supply capping mechanism they intend to put in place. I'm out of my depth with IOU limits: I've seem Ripple documentation somewhere, referring to code that prevents new XRPs from being injected into the supply, but I don't know what techniques are used by gateways wanting to issue IOUs in ways that keeps regulators happy. Potential adopters of ALV will obviously want to see Allvor's functional equivalent to the XRP-capping mechanism.

Last, for the sake of objectivity, I must acknowledge that Allvor are not actively encouraging anyone to trade ALVs.

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2 hours ago, Allvor said:

Yes, we will do this after the end of the Initial Distribution Program

@Allvor Why wait until the initial distribution program has ended? Why not make these changes now to the account that is running the distribution.

Edited by 1Ton
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6 hours ago, 1Ton said:

r Why wait until the initial distribution program has ended? Why not make these changes now to the account that is running the distribution.

Hi Ton,
In a simplified way, disabling the possibility of re-issuing for an account means destroying the secret key of this account. And it is used to perform the distribution transactions. In practice to access the XRP Ledger and command transactions.
Thank you

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32 minutes ago, Allvor said:

Hi Ton,
In a simplified way, disabling the possibility of re-issuing for an account means destroying the secret key of this account. And it is used to perform the distribution transactions. In practice to access the XRP Ledger and command transactions.
Thank you


Not if you transfer the tokens to another hot wallet first. 

Transfer all existing tokens to hotwallet. Blackhole the originating account. Just use the hotwallet for distribution of the blackhole'd account's tokens.

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46 minutes ago, JonHolmquist said:


Not if you transfer the tokens to another hot wallet first. 

Transfer all existing tokens to hotwallet. Blackhole the originating account. Just use the hotwallet for distribution of the blackhole'd account's tokens.

This...

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On 4/12/2018 at 5:47 PM, whitefanng said:

How can I remove ALV trustline after setting it up? It seems to freeze my precious 5 xrp in the trustline :(.

As long as you hold any ALV, it will contribute to the reserve amount, even if the trustline limit is 0.

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Given any business that is new, is indeed a risk, where would we be if we weren't risk-takers?

Greed is a **** thing, but god damn it this is what we invested for, this is what we invested in, why not hope that it does EXCEPTIONAL, especially considering it is complimenting what we invested in and spreading it too.

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On 13/04/2018 at 10:38 AM, Winteriscomming said:

they are able to generate billions of new ALV with just a few XRP. 

Hello, we will inactivate the account and avoid the possibility of new issues when we finish the Initial Distribution Program.
Thank you
 

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On 4/13/2018 at 11:21 PM, JonHolmquist said:


Not if you transfer the tokens to another hot wallet first. 

Transfer all existing tokens to hotwallet. Blackhole the originating account. Just use the hotwallet for distribution of the blackhole'd account's tokens.

@Allvor JonHolmquist has provided you with a solution that will enable you to limit the amount of ALV tokens issued. Why do you insist on waiting until the initial distribution program has ended? Limiting the amount of ALV tokens that can be issued is a high priority task that you need to do as soon as possible. The faster you solve any issues that are deemed very important to us investors, the more genuine your cryptocurrency project will look.

Edited by 1Ton
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