13/03/2020
NEWS UPDATE
I just participated in a more than an hour long Zoom call with Daniel Kaese.
Very interesting and positive developments.
Let me just quickly list a few of the most important items.
RibbonsSwipe
This is now ready, the links to download the Cloudapp update you need are currently placed in CloudChat and should be on the official website.
There's no reason to rush, just take it easy, take a good look at the documentation so you don't make any mistakes. There is more than enough money to serve everyone.
RibbonsSwipe works together with the IMToken app, which just like the Cloud app can also show you the content of your smart wallets. After all, both look at the same bockchain.
IMToken also has a built-in web browser, which will only be added to the Cloud App itself at a later stage, which is why you need both now.
Also take a look at the RS video above this morning.
An extra video about the installation of IMToken will appear soon.
Limits are temporary
Again during the interim period in which RibbonsSwipe is being tested, there are still limits on the maximum number of CTOs you can convert. Currently that is 500 CTO,
Cloud will now monitor the operation of RS from day to day and monitor for abuse.
As soon as they deem everything safe, the limits will be raised step by step and eventually disappear altogether.
Cloud, I was assured, is well aware that in the end they will be expected to pay out 100% of the profits made (daily rewards) on a daily basis if the account holders so request. And that's definitely going to work out.
You can now control multiple accounts with one device.
However, every account where you want to execute Ribbons Redeem must be validated, i.e. there must be at least $500 of cryptocoins in Jarvis.
Ribbons DEX
Ribbons Swipe is a permanent solution for conversions.
You can easily and very quickly convert to about 70 different ERC20 coins. You always have to leave some Eth as gas in your wallets. This "gas" is used to pay the transaction costs. With $5, I think you're more than a year ahead.
CTOX
So you start by swapping the CTO to CTOX.
Note that the CTOX is a muted stable coin.
Stable means it's pegged to the US dollar.
Minted means that the coin isn't mined, but created (beaten) by linking a security (usually USDT) worth $1 to the coin as soon as it is hit. As soon as a CTO is converted into a CTOX it is separate from Cloud on the ERC20 blockchain and has a real, verifiable and stable value of $1.
CloudTravel
As you know, the CTO has been devalued. This means that future rewards for Crypto's in Jarvis will be 3 times higher when expressed in CTO's.
The prices on CloudTravel and Cloud Redeem will remain unchanged in the number of CTO's mentioned now.
This means that the prices for a hotel stay on CloudTravel are now 3 times lowered in € price in one fell swoop.
CloudTravel has become a serious player with competitive prices.
In summary: the CTO has been devalued, but your rewards in numbers are 3 times higher and CloudTravel is 3 times cheaper.
CTO
The CTO remains the basis of the Cloud Ecosystem. All prices in CloudRedeem and CloudTravel will remain in the CTO.
The CTOX is used as a stable coin for conversions and will always retain a value of $1. You can even use it as collateral for loans, because it is guaranteed.
So now you pay 5 CTO for 1 CTOX, so the CTO is now worth $0.2.
Soon you'll pay e.g. 4,5 CTO for 1 CTOX and even later 4 or 3 and after some time you'll also pay 1 CTO for 1 CTOX.
So the CTO goes towards the $1
Everyone is therefore advised to hold their CTOs well, they are expected to show an interesting increase in value.
Withdrawals
There are still problems paying back the leavers.
Believe me, these aren't excuses.
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