Make a Contribution to Remove NSFW Ads

Official BGOL Crypto Currency Thread ★★★★★

Chevyboi3k said:
Just posted from pending in Coinbase. Says I can send up to 10g's weekly to bank. Says xfer should be in bank in 3 days. Saturday. Think Ima try PayPal with the next one. Those were my test plans last week but I forgot.
Click to expand...

I think PayPal is alittle faster but of course that is another middle man that's going to want his cut so I'm sure there might be an extra fee
 
Who do you guys follow on twitter for cryptocurrency? I found this guy @wolfofpoloniex seems like he okay. Looking for other good guys on twitter to follow?

I also follow all of these coins on twitter to get direct updates as well!!
 
Chevyboi3k said:
Ty. I might pass for right now. Trying to wait on this mobilego bid.
Click to expand...
That Mobile Go looks solid. I need to do some research to see if it's at a good price right now. My damn Bitcoin is dropping I don't know why but I need to buy something soon
 
https://hackernoon.com/dear-sec-icos-tokens-are-killing-innovation-2f8d287f88c3

Dear SEC: ICOs & ‘Tokens’ are killing innovation
Initial Coin Offerings have raised $200 million dollars in 2017. Here is a short list of recent ICOs, and their fundraising results:

  • Basic Attention Token — $35 million USD
  • Storj — $30 million USD
  • Waves — $16 million USD
  • Qtum — $15.7 million USD
  • Gnosis $12.5 million USD
  • Iconomi — $10.5 million USD
  • Golem — $8.6 million USD
So what is an ICO? ICO’s are an old phenomenon in the blockchain space with a new brand name. The word ICO is merely a synonym for an ‘unlicensed security’. ICOs are released to investors under a pretense of venture equity, but with the specific purpose of circumventing SEC authority and control.

ICO fundraisers leverage the confusion around ‘blockchain technology’ to swindle uninformed consumers with false promises, dubious claims, and dishonest terms related to their ‘high yield’ investment opportunities.

Here’s the state of the ICO/Token industry today:
  • Token-based fundraising and company valuations are 5x-10x higher than incumbent fundraising mechanisms, with no investor protection
  • Retail Investors are left holding these worthless securities in lieu of real world assets, unable to comprehend what risk they’ve agreed to
  • Previously fined offenders are operating these schemes unscathed, and without even so much as reputational damage to their name in exchange for dumping these securities onto victims
  • Elaborate schemes are undertaken to project scarcity, where no scarcity exists, for the promotion of ‘tokens’
  • Inventory of these so-called ‘decentralized’ ICO tokens sit on exchanges where they are actively traded, and rarely (if ever) withdrawn for use
  • To date, there has never been a ‘consumption’ of a token that offers an efficiency over incumbent online solutions.
  • In many cases, it is unclear how these tokens are anything more than unsecured and poorly structured liabilities issued by the ICO team.
  • It is unclear why ‘blockchain’ is needed for any of these projects, other than as a mere label, in which to dodge regulatory enforcement.
‘Tokens’ have preexisted blockchain by decades, and are in widespread use in incumbent data systems. The only new ‘development’ that is causing the rise in these platforms, is the lack of SEC action in response to increasingly aggressive fundraiser claims.

How did we get here?
Clearly Bitcoin was the precursor. Bitcoin’s success was an unplanned experiment which culminated in a massive bubble during 2013. But as Bitcoin’s market cap growth stalled in 2014, Venture capitalists began early attempts at recreating the manic euphoria of the Bitcoin movement in the years prior. David Johnston (Factom) and Ethereum promoters led much of that discussion, with many of today’s fundraising buzzwords coined in various papers and guides that they promoted. Over time, more established, and vocal Venture Capitalists began to chime in.

Fast forward to today, and these ICOs are effectively pitching the security as the common man’s ticket to Silicon Valley success.

If the ICO term sounds eerily similar to “IPO” well, that’s no coincidence. In the minds of impressionable and inexperienced, an ICO is an IPO. ICO proponents will of course state otherwise, but the difference between these terms is increasingly cosmetic.

Here’s what IPOs and ICOs have in common
  • Both are sold at the onset of a venture, to fund a team of corporate officers for deployment of a venture
  • Both are marketed by teams of promoters for sale on exchanges (though ICO promoters are far more aggressive boiler rooms operations)
  • Both ICO and security exchanges are nearly identical (or strive to be) in their design, and trade features
Here’s what’s different
  • ICO has ‘blockchain’ in it. Though what that means? Well, no one really knows, or cares.
  • There are no regulations, constraints, or pretense of investor guarantees on ICO offerings
  • There is very little due diligence being performed on these offerings, and it is routine practice for convicted offenders to launch these offerings without restraint
  • The ‘rights’ offered to shareholders are shockingly limited. There is generally no pretense of signing legally valid documentation for profit sharing, voting, auditing, or corporate rights of any kind - despite the fact that promoters often promise that their schemes will permit these things
  • Members of the ICO promoters and marketers are generally given inventory, alongside insider information in the venture, and use this position to exit their risk onto investors immediately after ‘going public’ (and before building a product)
What’s the Problem?
  • When ICO’s deliver 100% of the company’s expected receivables at launch, founders are incentivized to leave their project immediately thereafter
  • As such, these projects are increasingly resembling classical ponzis, with the losses borne by ordinary blue-collar Americans
  • No pretense of accuracy or responsibility for claims have led to ornate perpetual motion schemes receiving funding, at expense to humbler better-grounded offerings.
  • Incumbent and regulated VC models are no longer sustainable fundraising options, as the returns from ICO ponzis are starving out capital and perverting investor expectations
The common narrative amongst investors is surprisingly simple: Great fortunes were made in Bitcoin, this is your chance to get in on Bitcoin riches. And this narrative is so ingrained in the minds of investors that websites exist to strengthen and quantify the claim.

For the ICOs that have already run their course, victims will not speak out. They believe that either they themselves are fully responsible for their loss, or that they would not be able to exit their meager positions by doing so.

There is no ICO success story. Like all ponzis, ICOs are nearly guaranteed to be profitable until the time at which capital inflow has ceased. The success stories merely exist amongst the lucky, or those with insider information on when to pull out of the schemes.

Where’s it going?
  • Left unabated, ICOs will completely displace any pretense or recognition of security regulation law
  • Boiler rooms will continue to grow more aggressive in finding ignorant and unaware Americans to prey on
  • Facebook, Youtube, and other social media ads will grow more brazen with their claims, and less scrupulous with their demographic targeting
  • Self-help coach, Youtube, and Celebrity endorsement schemes will continue to grow into organized affinity fraud
  • Unrepentant and serial offenders will continue to run subsequent and larger rounds of ICO schemes
  • Companies completely outside the blockchain space will use the moniker “ICO/Token/blockchain”, to raise capital without the cost or liability associated with traditional securities regulation
  • ICO claims will grow increasingly detached from the limits of science and meaningful progress
  • Industry representatives will sponsor bills and advocate legislation designed to indemnify operators, and promote these practices
So what’s next from here?
The ICO industry will get as big as the SEC decides it should be. Though I’m sure that recent high profile actions were a fine use of its resources, such scandals have now been dwarfed by the growth of the ICO market. My assumption is that reputational damage to the SEC will grow commensurate with this market.

Ridicule of the SEC’s authority is already common amongst investors, and will spread to fundraisers themselves. Such disdain is already at so great a level that this Texas company would appear to be recreating the original Howey Test, but with the word ‘blockchain’ in their prospectus.

So-called ‘Blockchain’ securities have become a return of the South Seas Bubble, the fallout for which will eventually become a burden to American citizens and taxpayers. An ‘ICO’ is merely a label that’s been assigned to the current state of a securities regulation vacuum. There’s nothing ‘blockchain’ about tokens.
 
Slympickens82 said:
I see mobilego on bittrex but it's under maintenance, how do I buy and does anyone know what the price is going to be?
Click to expand...

bittrex seems to charge higher than the other exchanges...it's listed @ $1.73 on the other joints...only 6 cents more than it was if you participated in the ICO
 
that's pretty one-sided and jaded

Raymond said:
https://hackernoon.com/dear-sec-icos-tokens-are-killing-innovation-2f8d287f88c3

Dear SEC: ICOs & ‘Tokens’ are killing innovation
Initial Coin Offerings have raised $200 million dollars in 2017. Here is a short list of recent ICOs, and their fundraising results:

  • Basic Attention Token — $35 million USD
  • Storj — $30 million USD
  • Waves — $16 million USD
  • Qtum — $15.7 million USD
  • Gnosis $12.5 million USD
  • Iconomi — $10.5 million USD
  • Golem — $8.6 million USD
So what is an ICO? ICO’s are an old phenomenon in the blockchain space with a new brand name. The word ICO is merely a synonym for an ‘unlicensed security’. ICOs are released to investors under a pretense of venture equity, but with the specific purpose of circumventing SEC authority and control.

ICO fundraisers leverage the confusion around ‘blockchain technology’ to swindle uninformed consumers with false promises, dubious claims, and dishonest terms related to their ‘high yield’ investment opportunities.

Here’s the state of the ICO/Token industry today:
  • Token-based fundraising and company valuations are 5x-10x higher than incumbent fundraising mechanisms, with no investor protection
  • Retail Investors are left holding these worthless securities in lieu of real world assets, unable to comprehend what risk they’ve agreed to
  • Previously fined offenders are operating these schemes unscathed, and without even so much as reputational damage to their name in exchange for dumping these securities onto victims
  • Elaborate schemes are undertaken to project scarcity, where no scarcity exists, for the promotion of ‘tokens’
  • Inventory of these so-called ‘decentralized’ ICO tokens sit on exchanges where they are actively traded, and rarely (if ever) withdrawn for use
  • To date, there has never been a ‘consumption’ of a token that offers an efficiency over incumbent online solutions.
  • In many cases, it is unclear how these tokens are anything more than unsecured and poorly structured liabilities issued by the ICO team.
  • It is unclear why ‘blockchain’ is needed for any of these projects, other than as a mere label, in which to dodge regulatory enforcement.
‘Tokens’ have preexisted blockchain by decades, and are in widespread use in incumbent data systems. The only new ‘development’ that is causing the rise in these platforms, is the lack of SEC action in response to increasingly aggressive fundraiser claims.

How did we get here?
Clearly Bitcoin was the precursor. Bitcoin’s success was an unplanned experiment which culminated in a massive bubble during 2013. But as Bitcoin’s market cap growth stalled in 2014, Venture capitalists began early attempts at recreating the manic euphoria of the Bitcoin movement in the years prior. David Johnston (Factom) and Ethereum promoters led much of that discussion, with many of today’s fundraising buzzwords coined in various papers and guides that they promoted. Over time, more established, and vocal Venture Capitalists began to chime in.

Fast forward to today, and these ICOs are effectively pitching the security as the common man’s ticket to Silicon Valley success.

If the ICO term sounds eerily similar to “IPO” well, that’s no coincidence. In the minds of impressionable and inexperienced, an ICO is an IPO. ICO proponents will of course state otherwise, but the difference between these terms is increasingly cosmetic.

Here’s what IPOs and ICOs have in common
  • Both are sold at the onset of a venture, to fund a team of corporate officers for deployment of a venture
  • Both are marketed by teams of promoters for sale on exchanges (though ICO promoters are far more aggressive boiler rooms operations)
  • Both ICO and security exchanges are nearly identical (or strive to be) in their design, and trade features
Here’s what’s different
  • ICO has ‘blockchain’ in it. Though what that means? Well, no one really knows, or cares.
  • There are no regulations, constraints, or pretense of investor guarantees on ICO offerings
  • There is very little due diligence being performed on these offerings, and it is routine practice for convicted offenders to launch these offerings without restraint
  • The ‘rights’ offered to shareholders are shockingly limited. There is generally no pretense of signing legally valid documentation for profit sharing, voting, auditing, or corporate rights of any kind - despite the fact that promoters often promise that their schemes will permit these things
  • Members of the ICO promoters and marketers are generally given inventory, alongside insider information in the venture, and use this position to exit their risk onto investors immediately after ‘going public’ (and before building a product)
What’s the Problem?
  • When ICO’s deliver 100% of the company’s expected receivables at launch, founders are incentivized to leave their project immediately thereafter
  • As such, these projects are increasingly resembling classical ponzis, with the losses borne by ordinary blue-collar Americans
  • No pretense of accuracy or responsibility for claims have led to ornate perpetual motion schemes receiving funding, at expense to humbler better-grounded offerings.
  • Incumbent and regulated VC models are no longer sustainable fundraising options, as the returns from ICO ponzis are starving out capital and perverting investor expectations
The common narrative amongst investors is surprisingly simple: Great fortunes were made in Bitcoin, this is your chance to get in on Bitcoin riches. And this narrative is so ingrained in the minds of investors that websites exist to strengthen and quantify the claim.

For the ICOs that have already run their course, victims will not speak out. They believe that either they themselves are fully responsible for their loss, or that they would not be able to exit their meager positions by doing so.

There is no ICO success story. Like all ponzis, ICOs are nearly guaranteed to be profitable until the time at which capital inflow has ceased. The success stories merely exist amongst the lucky, or those with insider information on when to pull out of the schemes.

Where’s it going?
  • Left unabated, ICOs will completely displace any pretense or recognition of security regulation law
  • Boiler rooms will continue to grow more aggressive in finding ignorant and unaware Americans to prey on
  • Facebook, Youtube, and other social media ads will grow more brazen with their claims, and less scrupulous with their demographic targeting
  • Self-help coach, Youtube, and Celebrity endorsement schemes will continue to grow into organized affinity fraud
  • Unrepentant and serial offenders will continue to run subsequent and larger rounds of ICO schemes
  • Companies completely outside the blockchain space will use the moniker “ICO/Token/blockchain”, to raise capital without the cost or liability associated with traditional securities regulation
  • ICO claims will grow increasingly detached from the limits of science and meaningful progress
  • Industry representatives will sponsor bills and advocate legislation designed to indemnify operators, and promote these practices
So what’s next from here?
The ICO industry will get as big as the SEC decides it should be. Though I’m sure that recent high profile actions were a fine use of its resources, such scandals have now been dwarfed by the growth of the ICO market. My assumption is that reputational damage to the SEC will grow commensurate with this market.

Ridicule of the SEC’s authority is already common amongst investors, and will spread to fundraisers themselves. Such disdain is already at so great a level that this Texas company would appear to be recreating the original Howey Test, but with the word ‘blockchain’ in their prospectus.

So-called ‘Blockchain’ securities have become a return of the South Seas Bubble, the fallout for which will eventually become a burden to American citizens and taxpayers. An ‘ICO’ is merely a label that’s been assigned to the current state of a securities regulation vacuum. There’s nothing ‘blockchain’ about tokens.
Click to expand...
 
As I said I been looking for the next QRL that one hurt.
I think this might be it. It checks all the boxes.
The price is low right now and the float is low we all know supply drives the price.
I went in and bought some for the fuck of it but wanted to see what it'd do before I brought it to the board
I tossed the idea by @Spectrum cause he's been working on this scoring algorithm to help us score coins and see if we should even waste our time with it and he said it came back with one of the highest scores
shortly after that it went on a crazy ass run and it looks like the sky might be the limit for this one.
The coin was kind of scary at first because I looked on bitcointalk and the thread was dead but then I got linked to the new thread from the old one and man that shit is falling into place
The main Dev is an OG on bitcointalk, certified. They're doing all the things I laid out to do before when I mentioned why QRL was a winner.
Constant updates, active slack it's private invite only at the moment. they're testing things. got the mining setup it's really progressing they're in the middle of branding it but once they do it'll be too damn late
it's called influxcoin sounds crazy af I know but shit I can show you better than I can tell you
look at this market cap and the potential for it
https://coinmarketcap.com/currencies/influxcoin/#charts

we're used to needing like 1billion to make some money this shit don't even need 5m and we're rolling
 
their site is down...I might take a blind leap of faith tho and throw $500-1000

largebillsonlyplease said:
As I said I been looking for the next QRL that one hurt.
I think this might be it. It checks all the boxes.
The price is low right now and the float is low we all know supply drives the price.
I went in and bought some for the fuck of it but wanted to see what it'd do before I brought it to the board
I tossed the idea by @Spectrum cause he's been working on this scoring algorithm to help us score coins and see if we should even waste our time with it and he said it came back with one of the highest scores
shortly after that it went on a crazy ass run and it looks like the sky might be the limit for this one.
The coin was kind of scary at first because I looked on bitcointalk and the thread was dead but then I got linked to the new thread from the old one and man that shit is falling into place
The main Dev is an OG on bitcointalk, certified. They're doing all the things I laid out to do before when I mentioned why QRL was a winner.
Constant updates, active slack it's private invite only at the moment. they're testing things. got the mining setup it's really progressing they're in the middle of branding it but once they do it'll be too damn late
it's called influxcoin sounds crazy af I know but shit I can show you better than I can tell you
look at this market cap and the potential for it
https://coinmarketcap.com/currencies/influxcoin/#charts

we're used to needing like 1billion to make some money this shit don't even need 5m and we're rolling
Click to expand...
 
Raymond said:
Yeah it is. But just a precaaution for when you're looking at ICO's. Make sure the blockchain and token aspect of it makes sense.
Click to expand...

ya I'm on the fence on STATUS...I just can't get hyped @ throwing @ least 1 ETH @ them and having no idea how many tokens I'll get back
 
largebillsonlyplease said:
As I said I been looking for the next QRL that one hurt.
I think this might be it. It checks all the boxes.
The price is low right now and the float is low we all know supply drives the price.
I went in and bought some for the fuck of it but wanted to see what it'd do before I brought it to the board
I tossed the idea by @Spectrum cause he's been working on this scoring algorithm to help us score coins and see if we should even waste our time with it and he said it came back with one of the highest scores
shortly after that it went on a crazy ass run and it looks like the sky might be the limit for this one.
The coin was kind of scary at first because I looked on bitcointalk and the thread was dead but then I got linked to the new thread from the old one and man that shit is falling into place
The main Dev is an OG on bitcointalk, certified. They're doing all the things I laid out to do before when I mentioned why QRL was a winner.
Constant updates, active slack it's private invite only at the moment. they're testing things. got the mining setup it's really progressing they're in the middle of branding it but once they do it'll be too damn late
it's called influxcoin sounds crazy af I know but shit I can show you better than I can tell you
look at this market cap and the potential for it
https://coinmarketcap.com/currencies/influxcoin/#charts

we're used to needing like 1billion to make some money this shit don't even need 5m and we're rolling
Click to expand...


I don't think I got in at your price but I followed and I'm holding for a while.

I'm creating a scoring algorithm that segments coins and then scores them. For instance, it takes into account things like the technological stack, team experience, market cap, 24 trade volume vs market cap, capped coin count, distribution of coin ownership, mining difficulty level, central control or a decentralised governance, etc. It's likely going to be a 250 item list that will be used to score a coin and self-regulate (using machine learning) to reprioritize the scoring list based on long-term price changes.

There are multiple ways to score a coin. One of the scores will be "highest upside" and the rudimentary algorithm scores Influxcoin in the 85th percentile (much higher than any other coin I've scored so far).

It's getting harder to find opportunities like this where you can find potential breakout at very small market caps. If this even goes up to a 30M marketcap, you're talking about a 30x return. There are a ton of shit coins well over 100M.
 
LSN said:
their site is down...I might take a blind leap of faith tho and throw $500-1000
Click to expand...

It's a complete takeover it's less than a month old as far as new leadership
so they'll get that up and running right now they're building from the ground up
if i didn't see the new leadership thread and didn't see the new guy running it and who he actually is on bitcoin talk- a legend. i wouldn't even be posting this
 
  • Like
Reactions: LSN
LSN said:
their site is down...I might take a blind leap of faith tho and throw $500-1000
Click to expand...

That's not the website. Coinmarketcap hasn't been updated. I thought the same thing when I checked. I'm reading the new team's CEO entire bitcointalk history. He's a bitcointalk OG. The new site and all the details are there.
 
  • Like
Reactions: LSN
largebillsonlyplease said:
As I said I been looking for the next QRL that one hurt.
I think this might be it. It checks all the boxes.
The price is low right now and the float is low we all know supply drives the price.
I went in and bought some for the fuck of it but wanted to see what it'd do before I brought it to the board
I tossed the idea by @Spectrum cause he's been working on this scoring algorithm to help us score coins and see if we should even waste our time with it and he said it came back with one of the highest scores
shortly after that it went on a crazy ass run and it looks like the sky might be the limit for this one.
The coin was kind of scary at first because I looked on bitcointalk and the thread was dead but then I got linked to the new thread from the old one and man that shit is falling into place
The main Dev is an OG on bitcointalk, certified. They're doing all the things I laid out to do before when I mentioned why QRL was a winner.
Constant updates, active slack it's private invite only at the moment. they're testing things. got the mining setup it's really progressing they're in the middle of branding it but once they do it'll be too damn late
it's called influxcoin sounds crazy af I know but shit I can show you better than I can tell you
look at this market cap and the potential for it
https://coinmarketcap.com/currencies/influxcoin/#charts

we're used to needing like 1billion to make some money this shit don't even need 5m and we're rolling
Click to expand...

Do you think it's a good buy now at $0.59 or do you think it's better to wait and see if it drops back to $0.4 again?
 
Spectrum said:
I don't think I got in at your price but I followed and I'm holding for a while.

I'm creating a scoring algorithm that segments coins and then scores them. For instance, it takes into account things like the technological stack, team experience, market cap, 24 trade volume vs market cap, capped coin count, distribution of coin ownership, mining difficulty level, central control or a decentralised governance, etc. It's likely going to be a 250 item list that will be used to score a coin and self-regulate (using machine learning) to reprioritize the scoring list based on long-term price changes.

There are multiple ways to score a coin. One of the scores will be "highest upside" and the rudimentary algorithm scores Influxcoin in the 85th percentile (much higher than any other coin I've scored so far).

It's getting harder to find opportunities like this where you can find potential breakout at very small market caps. If this even goes up to a 30M marketcap, you're talking about a 30x return. There are a ton of shit coins well over 100M.
Click to expand...

I knew i was onto something lol
hopefully I'm getting that Bruce Leroy glow
 
guyver said:
The ICO price for MGO was under a dollar.
Click to expand...

there was no specific price given during the ICO when I was about to buy in...you were promised a % of tokens commensurate to what you contributed...one dude shared how much he paid and how many tokens he ultimately received and it amounted to $1.67 per token :dunno:
 
didn't go crazy on INFX (wish I had been this fucking conservative w/ OK)...picked up 5k coins...everything about this screams "dead cat bounce" as @LegalMoney phrased it...time will tell tho
 
largebillsonlyplease said:
There are only 1.6m coins.
Go search market cap show me a coin that has less than 2m coins and is worth less than $30
Click to expand...

Actually, there 2.6 million coins according to chrysophylax . The price is cheap. No question about that. But usually there's drop in price after a sudden surge. Regardless, I'm buying some right now. Thanks for the tip
 
Raymond said:
Actually, there 2.6 million coins according to chrysophylax . The price is cheap. No question about that. But usually there's drop in price after a sudden surge. Regardless, I'm buying some right now. Thanks for the tip
Click to expand...
no worries at all.
i hope im right about it especially considering the new team taking over.
 

Make a Contribution to Remove NSFW Ads
You must log in or register to reply here.

Similar threads

lightbright
Cryptocurrency theft of £1.1bn could be biggest ever
Replies
2
Views
143
Lexx Diamond
Lexx Diamond
FUCKYOU
Where the Neeegaas that called me crazy for talking about buying bitcoin in 2022?
Replies
12
Views
332
Politic Negro
Politic Negro
Mad Genius
Peter Todd forced into hiding after HBO documentary exposes him as SATOSHI NAKAMOTO: Bitcoin's Creator
Replies
6
Views
251
Helico-pterFunk
Helico-pterFunk
WorldEX
Canadian man named in alleged US$65-million crypto scheme
Replies
0
Views
49
WorldEX
WorldEX
TheBigOne
"I Recorded You"
Replies
13
Views
481
Lexx Diamond
Lexx Diamond
Back
Top