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05-31-2017 , 05:22 PM
Quote:
Originally Posted by aggo
failure to deliver the product outlined in their white paper/yellow paper


Since every ICO is launching without a business plan and/or product I can guarantee that a lot of these 20m raises will end up with 0 product at the end of their burn.


e.g.

aeternity
cosmos
and soon,
polkadot
Aeternity will burn up.
Cosmos will be great.
Polkadot has not done a raise but it will be great as well.
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05-31-2017 , 05:27 PM
Quote:
Originally Posted by housenuts
Aeternity will burn up.
Cosmos will be great.
Polkadot has not done a raise but it will be great as well.
the fact that you can actually defend those launches with 0 product, 0 business plan, 0 use case doesnt surprise me at all.

what you're showing is euphoria.

None of those launches solve any problems or have any use cases for 2017 or 2018, yet they will all accrue 20m.
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05-31-2017 , 05:32 PM
Cosmos has a great use case. I've also met two of the founders and am impressed by them.

That's like saying bitcoin had no use case in 2009 or ethereum had no use case in 2014 and failing to get in.
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05-31-2017 , 05:32 PM
Quote:
Originally Posted by housenuts
Cosmos has a great use case.
name it.
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05-31-2017 , 05:34 PM
Quote:
Originally Posted by aggo
name it.
Allowing blockchains to interact together. Right now ICOs are a pain in the ass. I want to buy in with btc, but they only accept eth. I have to convert it (at a fee) and find a wallet to hold my eth and then buy in. With cosmos I should be able to buy into an "eth only" ico with btc.
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05-31-2017 , 05:39 PM
Quote:
Originally Posted by housenuts
Allowing blockchains to interact together. Right now ICOs are a pain in the ass. I want to buy in with btc, but they only accept eth. I have to convert it (at a fee) and find a wallet to hold my eth and then buy in. With cosmos I should be able to buy into an "eth only" ico with btc.
this functionality already exists with btc relay, and soon swaps between lightning networks.
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05-31-2017 , 06:21 PM
My (admittedly first level thinking) opinion is that these decentralised applications are simply not solving any pain points for the everyday person.

They are cool ideas but apart from currency / store of value I don't think many people care that the apps etc they use day-to-day are centralised, eg storage, social media, gambling etc.
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05-31-2017 , 06:35 PM
Quote:
Originally Posted by TheMVP
My (admittedly first level thinking) opinion is that these decentralised applications are simply not solving any pain points for the everyday person.

They are cool ideas but apart from currency / store of value I don't think many people care that the apps etc they use day-to-day are centralised, eg storage, social media, gambling etc.
ethereum is not a store of value, its a bet on web3
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05-31-2017 , 06:52 PM
Quote:
Originally Posted by aggo
ethereum is not a store of value, its a bet on web3
That's what I mean.

When it comes to crypto I don't think the everyman is looking for much more than a decentralised currency / store of value.

'web3' is just not something that is needed / wanted imo.
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05-31-2017 , 07:14 PM
Quote:
Originally Posted by TheMVP
That's what I mean.

When it comes to crypto I don't think the everyman is looking for much more than a decentralised currency / store of value.

'web3' is just not something that is needed / wanted imo.
Web3 will be needed. Eventually no one will trust tor and every torrent site will shut down.

Where do you think those industries will migrate to? Whatever the leading web3 software stack is.
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05-31-2017 , 08:18 PM
Quote:
Originally Posted by BABARtheELEPHANT


There will be blood when the ICO bubble explodes. The greed is going to be bite them in the ass.
Meh, as anti-token I am for most of these, you have to realize it's a free market and with that short-term opportunities. Look at what happened with Gnosis ICO. It's pretty ridiculous I admit (akin to high frequency trading). BAT top 100 buyers bought ~99% of the tokens.. so roughly 300k worth a piece. I'm guessing most of them are just looking to flip for a profit, and perhaps a very small % some might know something insider that we don't.

I'm closely watching what happens when BAT gets put on an exchange and how it trades. The next 'hyped' one, depending on how its ICO is set-up and what happens with how BAT trades, I might do something similar to those top 100: Buy a separate computer, set it up properly and shoot ~1200 eth at it + pay ~15 eth gas to just jump the line with the intention of flipping it for the short-term outlook when it hits an exchange. It'd be a calculated risk for sure depending on several variables, but something I'm strongly considering. Yeah it's greed, but it is what it is - no different than the stock market. You can't really fight the nature of these ICO forces: If you're sitting there with 4 eth trying to get into the next 'hyped' ICO, don't even bother because you'll just leave upset.

Last edited by Kazuya; 05-31-2017 at 08:24 PM.
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05-31-2017 , 08:23 PM
Quote:
Originally Posted by aggo
Web3 will be needed. Eventually no one will trust tor and every torrent site will shut down.

Where do you think those industries will migrate to? Whatever the leading web3 software stack is.
this makes it sound like tor is web2. Isn't web2 GoogleFacebookAmazon? With the modern internet Google controls all the advertising, FB controls all social media, and Amazon controls the sale and delivery of all products. Transparency is one-way and security is somewhere between suboptimal and poor. It seems like web3 might look like a less centralized, more transparent, more secure version... ie, blockchain-based.

I'm not disagreeing with you, I think that a bet on ETH is a bet on web3. And I think it is ridiculous to think that web3 isn't wanted or needed. I just don't think I get why disintegrating trust in tor is the key that unlocks the door to a new internet.
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05-31-2017 , 10:05 PM
Quote:
Originally Posted by BABARtheELEPHANT
There will be blood when the ICO bubble explodes. The greed is going to be bite them in the ass.

Just wait til (if) the ETH bubble pops in 2-3 years when people realize Vitalik is selling a dream. That will be the real fireworks show.

BAT- crowdsale lasting 1 block is hilarious. People should know by now after the Gnosis sale that you send at block N-2 from Mist or Parity with max fees. Anyways, it takes one look at the dev team's cliff schedule to know that this whole thing is going to be a pump and dump.

Last edited by iloveny161; 05-31-2017 at 10:15 PM.
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05-31-2017 , 11:15 PM
Quote:
Originally Posted by onemoretimes
This really looks like yahoo front page. Making up **** everyday to try and explain why the market is up or down.

BTW, whales don't become whales by following strategies like "This run up really feels to me like every whale wants to be 100% ETH within 6 hours from now to sell to the chinese. I think they will quickly assess the chinese demand and ride it up carefully until cashout time. How high is up to the chinese."

This is troll box talk.
Making **** up everyday? Just correlate the market with the news, its not that hard.

We are into the second chinese entrant day now and approaching the 20% runup.

China is selling at a premium.

Not sure what I have got wrong at all. Profit taking dip tomorrow and 100% correct on all counts.


It isn't about how a whales becomes a whale. Once you are one however you leverage that by making near guaranteed plays in unregulated markets.
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05-31-2017 , 11:18 PM
Quote:
Originally Posted by BABARtheELEPHANT
There was some speculation they are planning a dex

The 'improved deposit withdraw' use case seems reasonable too
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06-01-2017 , 01:03 AM
Quote:
Originally Posted by Kazuya
.... I might do something similar to those top 100: Buy a separate computer, set it up properly and shoot ~1200 eth at it + pay ~15 eth gas....
What do you mean by this? What does having a second computer benefit? How do you need to set it up. Id like to learn how to get a piece of one of these ICOs.
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06-01-2017 , 01:08 AM
probably running a full node on it? just a guess
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06-01-2017 , 01:16 AM
I'm wondering if I should buy more ether at $230+. I currently have 7% of my net worth in crypto (75% btc, 25% eth). I can either sell some btc for eth, or convert more dollars and increase my exposure in this speculative asset class. I'm pretty bullish as a whole, but again, this is all speculation and I will feel pretty silly if I'm getting too caught up in the hype.
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06-01-2017 , 01:37 AM
if i was you, i would def have a closer eth to btc ratio.
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06-01-2017 , 01:44 AM
06-01-2017 , 01:58 AM
Quote:
Originally Posted by Zima421
if i was you, i would def have a closer eth to btc ratio.
agree, but I wasn't sure if I should sell btc to do that or just convert more usd. I'm not sure how much exposure I want in this space. I guess it's a personal decision ; )
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06-01-2017 , 02:08 AM
Quote:
Originally Posted by Kazuya
I'm closely watching what happens when BAT gets put on an exchange and how it trades. The next 'hyped' one, depending on how its ICO is set-up and what happens with how BAT trades, I might do something similar to those top 100: Buy a separate computer, set it up properly and shoot ~1200 eth at it + pay ~15 eth gas to just jump the line with the intention of flipping it for the short-term outlook when it hits an exchange. It'd be a calculated risk for sure depending on several variables, but something I'm strongly considering. Yeah it's greed, but it is what it is - no different than the stock market. You can't really fight the nature of these ICO forces: If you're sitting there with 4 eth trying to get into the next 'hyped' ICO, don't even bother because you'll just leave upset.
My guess is that the BAT "scandal" has highlighted a problem with artificially limiting how much investments ICOs take in and in the future we will see more uncapped ICOs.
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06-01-2017 , 02:48 AM
after zcash and gnosis, people and (i suspect the exchanges are the ones doing this) that it is insanely easy to corner the market for these ICOs.

I would bet alot of money that the #1 holder on bat is poloniex. They will make an obscene killing being the MM and dumping the tokens on their own exchange.
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06-01-2017 , 06:25 AM
Quote:
Originally Posted by kylefrey
What do you mean by this? What does having a second computer benefit? How do you need to set it up. Id like to learn how to get a piece of one of these ICOs.

1) Find out what block # (N) crowdsale begins and address to send to
2) DL Mist
3) Do 5-10 practice transactions on Mist to get familiar with the process. Every transaction will get rejected and sent back to you
4) Keep Mist synced every day leading up to ICO
3) Day of ICO, get ready ~30 minutes prior, make sure you are synced exactly. Fire up the transactions on both laptops, don't submit yet.
4) Monitor block number on ethstats
5) At N-3, confirm first laptop's transaction
6) At N-2, confirm second laptop's transaction (should happen ~5-25 seconds after step 5)

The tricky part here is to send 2-3 blocks before the actual sale begins. It generally takes at least 2 blocks to get your transaction mined, which you'll see with step 3.

There's probably a better/automated way of doing this via script, but this way should guarantee at least one buy going through, considering most people were sending at N, or using something like coinbase or MEW. I think more people have caught on after today, so you'll have to send potentially at N-5, N-6 for future sales. ICOs suck anyways.
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