AMA Summary — 01.06.2018

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Live from Zurich, Switzerland!

IN THE NEWS

# 1: “Russian Central Bank Official: Blockchain is Not Yet Mature Enough for Industrial Use”

  • Blockchain is not mature enough

# 2: Russia’s Largest Bank to Pilot First Official ICO

  • Most large scale banks are looking at Crypto, some banks are going the gimmick route.

# 3: Deutsche Börse AG is evaluating whether to offer cryptocurrency products.

  • The more good actors come into this space

#4: Singapore recently warned 8 exchanges over unregistered securities trading

  • If you go through a token sale and use that money for a commercial venture, it’s a security.

REDDIT QUESTIONS!

Japanese exchanges delisted privacy tokens, how does it influence CM? Regarding such regulations how does CM stay compliant in all countries?

  • The Japanese regulator stance on privacy coins is probably the same stance every other regulator will take, at least for now.

CM’s ambition — millions of users- how can we scale the customer experience with many users?

  • We obviously can’t use the same methodologies when scaling CM compared to FXPig.

How do we plan to bring back the tight knit community of old (less “when moon”, “exchanges”, “lambo”)

  • There’s no exact science to this.

Why isn’t XCM tradable right after beta launch?

  • Demo phase, live beta, production (XCM will be tradable here).

Can we have an updated roadmap with dates?

  • There is an updated roadmap on coinmetro.com

Is CM going to support iDEAL (Instant Online Bank Payment) the deposit method from Netherlands?

  • Yes, we plan on doing this from the start.

Are there plans to implement a Point of Sale service?

  • We’re trying to create an all-in-one fintech crypto platform.

When the beta comes out will there be a feedback system

  • Yes! We will be running a bug bounty as well!

Will we be able to short sell coins?

  • Initially no, but once we adopt OTC trading, yes you’ll be able to short sell. It will require a minimum balance and some type of margin, but there are no numbers to report now.

Will there be derivatives trading?

  • We’re not going to create our own derivatives, but there are talks with liquidity providers that are trying to do just that.

Are you considering partnering with Talenta group?

  • We haven’t heard of Talenta group, we’re open to see what they’re offering.

What percentage of total XCM raised are US contributors?

  • No percentage available at this time, but it’s around 20%, but in actual contributors it is lower.

How much of the funding is being held back by KYC for US contributors?

  • Roughly under half a million

Will US contributors be able to trade tokens at the same time as the rest?

  • Yes, that’s the goal. There’s no additional information to this at this time, because it includes some of the legal work that is being worked on.

Will US Accredited contributors get Airdrop tokens?

  • There’s no info on this at this time.

Can you extend the 2.5% referral bonus to all subsequent contributions?

  • We can’t do that because the rules of the ambassador programs were clear.

Is the exchange beta release still on time?

  • Yes, 15th June for the demo version, a few weeks after we do live trading.

When will the bear market be over?

  • 2018 was going to be a losing year for crypto, per Kevin’s prediction. He calls it a correction, not ‘bear’ territory yet.

When the exchange demo comes online will there be real money trading?

  • Paper trading initially, demo mode to try and break the platform and find bugs.

COINMETRO UPDATES!

  • Kevin’s been working on liquidity talks, 7–8 liquidity providers, 2 of which Kevin feels good about.

FACEBOOK LIVE AMA QUESTIONS

How’s the fiat to crypto licensing coming?

  • The team has the license in Estonia, approved on 9th May.

When will the coins be minted?

  • The team needs to have the exchange functional.

Flash Sales

  • If we do this, 3 days before the tokens are minted, 3 flash sales, 24hours each, three tiers. Token launched 0.15 EUR on CoinMetro.

Vesting period 3–6 months- will that vesting period be affected.

  • No- we will adjust the vesting period once the token periods are scheduled to be minted.

Where can we get a CM shirt?

  • Maybe soon!

Is the crypto fiat wallet ready to accept deposit?

  • Demo for 2–4 weeks, paper trading.

Custodial Accounts can you briefly explain why they’re needed?

  • An approved custodian is someone who can hold funds.

Most exchanges don’t have any complex order types. OCO (One Cancels the Other).

  • Complex order types will be added at a later date, but they won’t be available from day one.

Will you keep in touch with us after the CoinMetro launch?

  • Of course! Kevin enjoys speaking with the community and it’s important to maintain a relationship with the community.

Why is licensing in different regions so time consuming and expensive?

  • Governments! *mic drop*

What are you doing in Switzerland?

  • Working on business development, since there are a lot of exciting things happening in Switzerland.

Marketing Plans

  • Marketing will center on certain regions of the world so that the team is #1 in those regions first. Then use that power to expand.

How many employees does CM have so far?

  • 54 people

Do you see more crypto companies moving to Europe if your model is successful?

  • France, Germany & Spain are the top countries for crypto in Europe.

There will be contests running during the CoinMetro Demo.

  • Real prizes and swag!

Well, that’s it for this week’s AMA with CoinMetro Founder and CEO, Kevin Murcko! Please join us next week on the CoinMetro Facebook group at 2PM GMT for another round!

As always, we’re available to answer any questions you may have on our Telegram Group 24/7.

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A one-of-a-kind, fintech platform fueling the future of blockchain innovation. [Join our Telegram Group https://t.me/CoinMetro]

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