Will the Launch of Bitfineon be possible even
without VC-Funding?
If Bitfineon GmbH secures external funding through It is possible that a VC-based exit strategy is dependent upon
VC, does it impact the sharepool?
Is the Sharepool based on NET or GROSS?
How long is the Bitfineon GmbH seeking for
funding?
Is the Bitfineon GmbH still going to proceed even
without external funding?
What's the plan for Bitfineon GmbH without
funding?
What is the status of other ALQO Planets?
How are credentials secured in the Liberio
network?
Have any vulnerabilties been found in the Liberio
network?
What is a typical day like for you in terms of working Jared: for me a typical day is based mostly around networking
on Bitfneon and/or ALQO?
Are there more details about ALQO/Bitfineon
salaries dispatch and the current financial situation? regarding "salary dispatch" but the current financial situation
When the new codebase for ALQO will be
released? Is the new codebase able to be used like
ethereum (ERC20)?
Yes, the BETA version of the exchange is scheduled to
launch independently of funding. Funding will secure
operational and growth expenses necessary for Bitfineon to
compete on the necessary level to be competitive in the
current exchange market landscape.
a sharepool reduction or elimination at a future-date. We are
actively trying to find an investor which will not see this as a
requirement, however the possibility exists that this is a reality
we may face if limited investors show interest. We will publicly
notify the community of any sharepool change in a timely
fashion.
GROSS, we were in discussions with FINMA regarding NET,
but it is not possible. Sharepool profits will payout via GROSS.
We're actively in discussions with interested parties, the
funding process will continue until we secure a funding
partner and can fully and correctly realize our vision.
The project has released a milestone IP achievement with
Liberio in 2018. Nearly the entirety of the backend
development and front-end development for the flagship
product, Bitfineon, has been completed. Currently the main
hurdle remaining full launch is appropriate funding. All
businesses require funding or revenue to stay viable.
We're confident that funding can be secured based on an
active BETA, however, it's possible that without enough
funding that Bitfineon could fail to be a competitor vs the
largest exchange properties in the space. In business there
are no gaurantees, and we can only do our best and work as
hard as possible to make the vision a reality.
The other planets have been in ongoing concurrent
development alongside Bitfineon. We hope to have
Coinfolium and JANUS ready for public consumption with the
full launch of Bitfineon.
for future partnerships (marketing, etc) and securing funding.
Jared: I'm not sure I understand the section of your question
is funding via a private equity sale within Bitfineon GmbH is
being pursued to secure operational and growth capital.
How long is the Bitfineon BETA going to be before
a full-launch?
Will the BETA be fully functionally?
Does the Bitfineon GmbH has any bank-support to
guarantee payment methods like SOFORT
(Instantdeposit) for fiat?
Have you agreed with any bank to secure fiat-
pairing and deposit/withdrawals?
Are there more details available for the STO (Easy-
ICO) element on Bitfineon?
Where do you see Bitfineon/ALQO in 5 years?
Do you think that what you've built in of the caliber A large part of the entirety of all products built for ALQO were
and quality it should be considering the enormity of developed and coded by Kevin. Funding for development has
time spent?
With such a dramatic fall in price, how have you
survived? Can ALQO and Bitfineon really cut it in
2019?
What happend to the rest of the team?
How was the funding for Bitfineon so broadly
miscalculated?
Will Bitfineon be profitable to run in its current
state?
Have you considered releasing the exchange with Yes, the BETA will launch as a product of core features and
limited features and then scaling the extra features services and we will scale additional planned features as
accordingly?
Jared: based on my conversations with Kevin, we will let the
testnet version of the BETA run indefinitely until funding is
secured. This BETA period will allow time to build the best
product possible, based on user feedback.
For the most part, all core functionality will be active within the
BETA. Some features may not be active until the codebase is
released.
Yes, but at this time our partnership agreement prevents us
from publicly stating the partnership until full launch.
Jared: I see Bitfineon as part of the major push to legitimize
and spread crypto to the masses. As I stated in the live video
stream AMA in 2018, the goal is to build an easy-to-use
platform with feature rich products and services to help the
average person take part in crypto.
been provided via self-funds of the team and the dev-fund.
However, funds were never in great enough supply to hire the
quantity of coders needed to move the project along at a
more aggressive pace. There are thousands of coders
working on Bitcoin, and LN is taking a long time too. I think it's
worth noting that development takes a long time, regardless
of funding... but, with funding being scarce, delays will be
more common.
It's no secret the bear market and the subsequent fall in price
of many project's coins and tokens have hurt their
development work process. ALQO is no exception, which is
why we're seeking outside funding via the private equity sale.
For the past few months, the executive team has been
injecting their own funds to make payments on infrastructure
costs, such as servers and more.
Raphael and Samuel have moved on from the project. Both
were paid employees which did not continue their tenure after
salaries became unsustainable. Moh left the team in Dec to
pursure other personal and professional interests.
Jared: I don't believe funding was miscalculated. We need
funding to scale and be competitive against established
companies with large financial resources. The development of
Bitfineon has reached near completion with minimal funds,
compared to our competitors.
Yes, the belief is Bitfineon's products and services will make it
attractive to crypto users/traders and that it will be profitable
given the current planned scope.
funding becomes available.
What are your thoughts on the ALQO Governance
System moving forward?
Who is working officially and legally with Bitfineon
GmbH?
Bitfineon claims to be a licensed exchange, any
information about that?
How solid is the current team, considering
communications and planning?
Do you have a communication strategy that you
plan to setup in the near future?
Why has Bitineon.com website not been updated to The Bitfineon.com website will need a full redesign, which
reflect the current scope of the project?
Why did the XLQ asset underperforms the market Price action in crypto is usually driven by hype, dev-progress,
90% since december 2018?
Is there some compliance in place for Bitfineon?
Partficulary about protection for trading against the operating a financial trading entity within Swiss and European
own userbase?
Why ignore larger influencer posts on social
media? Can a dedicated volunteer be hired to
manage social media?
ALQO will continue as a community driven coin project, the
governance system will continue in some form or fashion.
We're open to suggestions from the community in how to best
utilize community interaction regarding the governance
system.
Official shareholders are listed on the Swiss registrar site.
There are plans to expand the team as the company grows.
Yes, we are licensed with FINMA and currently finalizing the
BaFIN license. Both licenses will be made publicly available
once the BETA launches. We've discussed this several times
in our Discord server, where you can find complete
discussions on the topic.
Jared: I speak with Kevin daily via multiple social media
platforms and we're regularly in contact about development
and business items. I spent nearly the entirety of Jan in
Germany at his residence, working on planning and scope.
Yes, we I have been working on a comprehensive marketing
strategy for month. It will be implemented when we're ready
with Bitfineon and funding, stages of it will begin with the
BETA release. And, I think it's a negative assumption that
things are "bad", as you infer. We're simply working and
seeking funding, which are regular business practices. It's my
opinion that crypto has historically been driven by the desire
for quick ROI driven by hype and we're currently an outlier in
this process, we will hype our products when they're ready for
release.
funding will help us to complete. FWIW, I have wireframed
and spoken with the designer who did the Bitfineon and
Coinfolium UI design, and we're ready to move forward with
the redesign, featuring the increased scope of the project,
once we're able to fund it.
marketing, news, etc., all of which have been in short supply
for the past 2-3 months for ALQO. We believe this will change
as we begin to release the additional planets for the ALQO
universe.
We're compliant with FINMA and BaFIN regulatory bodies for
countries. User protection is provided by regulatory audits of
our business operations on a quarterly basis. It's also our aim
to provide a trading platform free of these types of malicious
actions that are used by some other exchanges.
We're currently not aggressively active on social media due to
the workload required for the launch of Bitfineon. A dedicated
social media manager could be hired when funding is secured
and there is a place in the budget for it.
It was mentionted to scrap the web wallet and
release mobile and desktop version instead. How
do you ensure that everyone withdraws their coins
in time?
What roles do the Community Team members
have?
How can the community support ALQO/Bitfineon?
Is there a lawsuit against ALQO/Bitfineon about
unpaid salaries?
There are supposedly already coins/tokens to be
definitely listed on Bitfineon, which are there?
Why was Moritz not at the gala?
What amount of money does the Bitfineon GmbH
want to achieve though VC investment?
Why ALQO ignores all the opportunities to be
known (Twitter News etc.)?
Will the XLQ asset definitely be used for the
sharepool even if the VC-firm would like to do
otherwise?
What kind of expenses do you have to cover every
month?
Community Team members mostly handle social media
interactions with the community across our multiple social
media channels, the most notable of which is Discord. They
help to provide information, when core team members are
unavailable.
The community can help ALQO/Bitfineon by grass roots
discussions about the upcoming release of Bitfineon. We'll
ready some marketing materials and digital assets for
everyone to spread. Having a strong community response to
the release will help secure Bitfineon's market position.
There are currently about 25 coins which have completed the
dev-KYC process for listing on the platform. This will increase
in earnest once the BETA testnet launches and we can
showcase the platform to coin devs. Currently you can find
the publicly listed coins on our Twitter @bitfineon
Moritz had a family emergency and was unable to attend. This
was posted in the Discord chat back in Nov.
Due to the nature of ongoing discussions with possible
investors, this is not a question I feel comfortable answering
at this time.
When we're ready to promote our products, we will begin an
aggressive marketing campaign for ALQO and Bitfineon.
Currently focus is on the development end of the project.
Assuming there are no changes to the sharepool, XLQ will
always remain the asset active for the sharepool.
Current monthly expenses include server costs, admin costs
for legal, business taxes, etc.