The most straightforward WP I had ever read, honest and to the point, professional and no fake promises 😋
For those of you who have not read it yet, we strontly recommend it. It is significantly reworked compated to the ICO version
Hey Florian. The affiliate dashboard shows awards in $, but I believe you said it is paid in LOC? I think we will need to make it clear in the dashboard what currency, or, maybe choice to be paid in...for those newbies who join because it is a great program, but have no idea about crypto could be mislead... .
Also Good evening all. It's happy hour here in the states for old people like me... 16:30!
Hey Nody. We will introduce payout via fiat to make it more useful to regular affiliates. They will just want their payout without having to deal with complex conversions :)
Ah. But....this could be an issue if giving US dollars ..I would recommend giving crypto, LOC, BTC, ETH, USDC . This keeps you out of the scope of the US! As you know over here the Govornment hates crypto, and if a US dollar is involved they have jurisdiction...
Our relationship with affiliates and customers are purely as a travel partner. When you refer someone to our site, you receive an affiliate compensation that has nothing to do with the blockchain :) In the contrary, US affiliates could have a tough time converting their LOC back to fiat given the exclusion of services like Bancor. All the blockchain related stuff is happening on our backend and falls under EU law.
The bookings go through a third party , stripe etc. The affiliate rewards are coming from LT? If that's the case LT could be open to US law as you use US dollars as a reward, and transmit over international wire.
Just something to get the lawyers to check! I really don't want to see any issues with this ridiculous country..😁
I see you are typing, one other thing, the founder of Etherdelta was fined, only fined as he cooperated. One of the major issues was that he used USD in a smart contract alogorithm. So, while I know everything blockchain is in the background any inference to USD, no matter where can place LT in jeopardy..
Maybe any affiliate in the US has to receive crypto, then it is up to them to.....we can be identified with IP, and given options to get LOC, BTC, ETH?
Nody it is ok to receive payouts in USD. Exchange of crypto assets has nothing to do an affiliate commission. As a matter of fact the predominant affiliate industry is US based with most super affiliates and conferences takiny place in the USA.
Keep in mind that Etherdelta is anexchangeoperating in theUSA. The main task of the SEC is to regulate exchanges that are located in the US 😊
Absolutely, thanks Nikola, didn't mean to get you up! You know me, just want to make sure all angles are covered..
No need to worry and thanks for being considerate enough to bring this topic up.
Hi guys, regarding the staking. How often will it be paid out? If its daily and the stake amount thus increases every day, then there's compounding rewards. Which is nice 😊
Each block is being mined by someone and the reward is being delivered with that same block :) Delivery is instant
I remember something about staking for stability in the beginning, but burning the rewards, until the blockchain has enough stakers
I used the staking calculator and thought about the amount of staking on the network, and the team has most coins I suppose
To piggy back on what Nody said, I am curious about an article that came out saying ETH could be considered a security once staking is enabled? Are we sure LOc won’t be a security once we have staking also? I’ll share the article for those interested
CFTC Chairman Tarbert: Ethereum 2.0 Upgrade Using Proof Of Stake Could Make ETH A SecurityThe chairman of the U. S. Commodity Futures Trading Commission (CFTC), Heath Tarbert, recently spoke about how tokens that use proof of stake consensus methodscould be labeled as securities by the regulators.https://t.me/CryptoWorldNews
Also I’ve found that telegram group very informative for the crypto space in general. It is entirely just news releases.
The issue they are concerned about is how staking will affect the decentralisation of the network. His quote:
“Staking is obviously different than mining in the sense that mining is by its very nature sort of more decentralized, whereas with the stake obviously it reduces energy costs because you’re just giving it toone validator or line of validators,”
So his idea of staking is something like with EOS, which only has a small number of centralised validators. Which will not be the case with LockTrip. We are making is as easy as possible for anyone to stake, increasing the decentralisation of the network.
Since there isn't a specific law yet and nobody knows how to categorize crypto, we can't make statements like "we are sure" about something. We are just doing everything possible to be in-line with regulatons and keep our status as a utility token.
This is an article in response to his statement that you may find helpful:https://www.coindesk.com/what-the-cftc-chairman-actually-said-about-ether-futures-and-ethereum-2-0
Hello hesron🙂 Yes, you can. The fee will be shown to you before payment. It's usually in the range of 1~3%. This will be reduced further when we introduce our new LOC Economy 2.0. There are no fees when paying with LOC.
I think the future is as I have stated. The US is using antiquated laws to designate tokens as securities because of fear, lack of understanding and some knowledge that the future of cryptos will eliminate 3rd parties. China is being smart to introduce a "centralized currency" based on blockchain technology. The US is way behind and uses its Dollar dominace to project fear and intimidation to any country, business or entity that uses the dollar. We see examples of how many countries are using crypto to move away from the dollar, Iran, China etc. to circumvent the US restrictions. Finally, the US will never be able to crush the crypto, decrentralized economy, only the younger, next generation will adopt the crypto future. Until then, we are stuck with the current antiquated laws, so those of us who live in the US, or those of us who use US dollars need to adopt a strategy to make sure there are no connections..... so, VPN, 😠etc😠
Also, I think that the next gen of Eth is attracting scrutiny because of the minimum stake requirements for a node. The requirement of 1500 Eth to run a node means the network is centralized, and can be designated a security as the majority of holders are reliant upon a minority of holders ( node operators with 1500 + Eth) to "Work" to secure the network that gives profits to all holders. The SEC is reliant upon antiquated, simplistic laws. Time is the winner.https://www.sec.gov/corpfin/framework-investment-contract-analysis-digital-assets
You have a point about the 1500 eth minimum. This definitely increases centralisation. No minimum at LockTrip! 👍
Yes only 32eth, and I think i read somewhere that more you stake more you will need a powerful computer to avoid centralization
This is related to the upcoming LOC economy upgrade. We are reorganizing the buffer wallet (gradually starting to deplete it). The current balance is 20,500 LOC (was 66,500 today at the beginning of the day)
Technically we are "buying out" 40k worth of LOC from the buffer. A 34k transfer was made as a consolidation for another purpose
LockTrip just silently bought out 40k LOC?? I call that a strong sign of confidence for the future 🤑
Definitely not on KuCoin.... no such amount transacted there, although I wished the sky can rumble and earth shakes....😜 I will patiently wait for that day....😍
Just had some good feedback from a potential customer, do we have any positive feedback from a US customer? They say putting a US customer in with the recommendations will strengthen the brand here....
Hi, my affiliate is trying to book several hotels in Argentina and comes across the same problems. Searching the hotel directly results in no room available. Search the city and then scroll down, shows the same hotel available. Do I need to send bug-report or is this known? 🧐
Another crazy thing...if I (in NL) compare, the rooms are 15-20% cheaper if she looks (in ARG) LT is 5-10% more expensive. Damn booking is using IP-detection and price-discriminates...🙈
This is a known issue. It affects a small percentage of hotels. The problem actually comes from the information provided by a particular supplier who reports a hotel to be available.. Which in reality is not. The problem will be solved as we advance further into integrating more providers (in that case we will more easily cut a specific provider that such as in the current example is affecting the experience of our users due to an unoptimized API connectivity)
This is because Argentina applies VAT for local citizens. LockTrip includes VAT in all rates even on search results.
The hotel page does a triple check to ensure room level inventory is correctly shown.
I am doing it myself, and I see it is available when searchin through city and see unavailable when searchin the hotel directly
Another crazy thing, bcom is telling her a price + tax, but when she pays the hotel after checking out, she only needs to pay the price thus without (2 already)...🧐 So in theory LT is cheaper, but in the end it is not (through her perception)...how about that! 🤦🏻♂️😬
Still convincing her to book through LT of course...selling point: real possiblity to get an upgrade, because the hotel wins 🙏🏻
Also, in the US prices are displayed excluding taxes, LT price includes taxes? So in the US it would be a benefit to say inclusive of taxes, or all taxes/fees.....I think we have had this discussion, not sure where we landed? ....the issue in the US is that every State ( 50) and even each city/town can charge different sales tax & fees. How does LT manage these taxes and fees? If they are included in total price shown we need to tell customers that this is what they pay!
Thanks for your feedback Nody! Could you please submit it as a ticket so it gets logged and processed appropriately? Thank you 🙂
Actually the search results have a "tax included" notice on them. Perhaps we need to make them stand out more?
Here is an example, no mention anywhere about taxes included, or am I missing something....
Yes, you are missing the "tax included" icon. But there isn't one on the room level results it seems.
Hi, what is with this "slow" connection, and a spam thing? Should I send these pics in a ticket?
Ah, yes, but it is not next to the price, and people here in the US won't see that, they will automatically think the price they see will be BEFORE tax.....I have submitted a ticket, please reinforce the need to market, explain, or even Exclude taxes in the US.....
You have a good point, we should emphasize that aspect and the 0% commission icon a little more. After all, they are our unique strengths 😊
I know it's "complicated" I share the frustration of all. I have experienced many countries and cultures, where the price you see is the price you pay, and mostly backed up with legal intent. Here in the US the 50 states are independent I. Terms of state and local sales taxes, so each one has a different tax, or even no tax, more complication comes with cities who charge their own taxes on top of the local, state and federal taxes. I was confused and misunderstood this when I moved here 22 years ago. Now I understand that NOT showing taxes is the best results here, as they are Soo different in every location
It's the hotels charging the VAT for local citizens. If she is a local citizen, she will most definitely be charged VAT by the hotel itself when at the reception.
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