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Official BGOL Crypto Currency Thread ★★★★★

largebillsonlyplease said:
i can't read OK at all
Click to expand...

it's definitely not a hold imo...it was a pump and I got caught out there...I'm just hoping for another pump...I already have my shit set to sell on bittrex when/if it hits a price just barely over what I paid for it...I was instantly drawn by the low circulating supply cuz that makes it an easy pump...unfortunately I was on the wrong end of it
 
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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of these so-called ‘decentralized’ ICO tokens sit on exchanges where they are actively traded, and rarely (if ever) withdrawn for use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...


So all ICOs are shit?!
 
LSN said:
it's definitely not a hold imo...it was a pump and I got caught out there...I'm just hoping for another pump...I already have my shit set to sell on bittrex when/if it hits a price just barely over what I paid for it...I was instantly drawn by the low circulating supply cuz that makes it an easy pump...unfortunately I was on the wrong end of it
Click to expand...

it happens man we all less than a year in.
 
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...

Hell of a run today, do you think we should wait a bit to see if the price drops again?
 
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...

QRL been lovely and I've been seeing eye to eye with most of Spectrum's thoughts so fuck it, I threw a Bitcoin at it. #Townbizletsgetit
 
ceedizzle said:
Hell of a run today, do you think we should wait a bit to see if the price drops again?
Click to expand...
Still too early to tell if it will. If they stay true to their word then it won't be dropping. like with anything it's a gamble but more of a educated gamble based on what it looks as opposed to other coins on the market
 
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LSN said:
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
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Remember verge was worth about $1 million just a month ago. :eek: That shit climbed to almost $90 million and is still around $45 million for no other reason than cats trying to get rich. Reddcoin too.

I keep seeing coins from back in the day catching insane pumps. Shit. Why not this one?
 
gene cisco said:
Remember verge was worth about $1 million just a month ago. :eek: That shit climbed to almost $90 million and is still around $45 million for no other reason than cats trying to get rich. Reddcoin too.

I keep seeing coins from back in the day catching insane pumps. Shit. Why not this one?
Click to expand...

that's all im saying
the market cap is ridiculously under in this climate.
 
gene cisco said:
Remember verge was worth about $1 million just a month ago. :eek: That shit climbed to almost $90 million and is still around $45 million for no other reason than cats trying to get rich. Reddcoin too.

I keep seeing coins from back in the day catching insane pumps. Shit. Why not this one?
Click to expand...

ya well I'm not exactly looking for a repeat of verge (barely made it out of that one in time thanks to @Spectrum) :lol::cool:

if this coin amounts to nothing more than a pump and dump then that's fine just as long as I end up on the right side of it
 
LSN said:
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:
Click to expand...

I don't recall the exact price of ethereum and bitcoin at the time, however, I didn't want to use more than $2000-3000. I currently have just over 5000 MGOs. Based on what you or the other person who bought in, I would have spent just over $8000 for 5000 coins at 1.67.

Also, on the slack page it was stated that the price was around 75 cent. Granted that can't be right either given the amount I have unless I received a bonus as well.

My estimated price at $3000 for 5000 coins would be around 60 cent. Again I don't recall the Bitcoin or ethereum price (5/16&5/17) and I'm not sure about getting a bonus or not, but I shouldn't have qualified for a bonus and even in Bitcoin numbers I wouldn't have spent above 3000.
 
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guyver said:
I don't recall the exact price of ethereum and bitcoin at the time, however, I didn't want to use more than $2000-3000. I currently have just over 5000 MGOs. Based on what you or the other person who bought in, I would have spent just over $8000 for 5000 coins at 1.67.

Also, on the slack page it was stated that the price was around 75 cent. Granted that can't be right either given the amount I have unless I received a bonus as well.

My estimated price at $3000 for 5000 coins would be around 60 cent. Again I don't recall the Bitcoin or ethereum price (5/16&5/17) and I'm not sure about getting a bonus or not, but I shouldn't have qualified for a bonus and even in Bitcoin numbers I wouldn't have spent above 3000.
Click to expand...

my apologies bruh...no way I can look to refute you

*edit *

there was no "other person"...it was you...mistake on my part on the math lol smmfh...this past weekend was the worse for me...from thursday nite to sunday afternoon I slept a total of 16 hours...matter of fact I was under physical/mental duress when I bought those OK coins...that should be grounds for a refund from bittrex :rolleyes:

but thanks for the correction...that's a little encouraging as far as helping me to decide whether or not to participate in the STATUS ICO...assuming it's open to the US
 
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I don't know if it was @Mixd or @kuu that posted the Telegram link to the group Coinvestment.
I'm just wondering if anyone is gonna join their premium group for $69 bucks for 30 days.

They could be wack pumpers but for the short time I've been following them, their tips have been on point.
Their coin projections don't happen immediately but usually within a few days.
 
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...
Just transferred over some BTC to bittrex to buy infx and just noticed it's starting to drop. I may wait to see if it continues before I buy in.
 
Just want to say thank you for this thread as it has changed my life.

I'm still learning and I'm doing a lot of research but I thought it was fair to chime in and give input as to what I'm thinking about.

A few of the coins I'm currently fucking with :
Verge
Humaniq
Lumens
Vox
Ripple
Digibytes


Was thinking about grabbing some
siacoin, Acoin, and reddcoin at this point
I'd appreciate any thoughts on this spread
 
largebillsonlyplease said:
that's all im saying
the market cap is ridiculously under in this climate.
Click to expand...

It does look prime for a large pump. Given what I've seen coins from '14 doing, it is a very, very low marketcap.

LSN said:
ya well I'm not exactly looking for a repeat of verge (barely made it out of that one in time thanks to @Spectrum) :lol::cool:

if this coin amounts to nothing more than a pump and dump then that's fine just as long as I end up on the right side of it
Click to expand...

I ain't going to lie. I am. Coins with these small marketcaps are just so easy to pump.
 
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LSN said:
my apologies bruh...no way I can look to refute you

*edit *

there was no "other person"...it was you...mistake on my part on the math lol smmfh...this past weekend was the worse for me...from thursday nite to sunday afternoon I slept a total of 16 hours...matter of fact I was under physical/mental duress when I bought those OK coins...that should be grounds for a refund from bittrex :rolleyes:

but thanks for the correction...that's a little encouraging as far as helping me to decide whether or not to participate in the STATUS ICO...assuming it's open to the US
Click to expand...

I'm still mad I couldn't legally take part in Bancor. There are other projects that are trying to make decentralized exchanges, but that one caught my interest.
 
MarkCornell said:
Just want to say thank you for this thread as it has changed my life.

I'm still learning and I'm doing a lot of research but I thought it was fair to chime in and give input as to what I'm thinking about.

A few of the coins I'm currently fucking with :
Verge
Humaniq
Lumens
Vox
Ripple
Digibytes


Was thinking about grabbing some
siacoin, Acoin, and reddcoin at this point
I'd appreciate any thoughts on this spread
Click to expand...

in my own opinion look to get rid of verge
and watch for the next pump on dgb and get out.
 
SlimKid07 said:
I don't know if it was @Mixd or @kuu that posted the Telegram link to the group Coinvestment.
I'm just wondering if anyone is gonna join their premium group for $69 bucks for 30 days.

They could be wack pumpers but for the short time I've been following them, their tips have been on point.
Their coin projections don't happen immediately but usually within a few days.
Click to expand...
Link?
 
MarkCornell said:
Just want to say thank you for this thread as it has changed my life.

I'm still learning and I'm doing a lot of research but I thought it was fair to chime in and give input as to what I'm thinking about.

A few of the coins I'm currently fucking with :
Verge
Humaniq
Lumens
Vox
Ripple
Digibytes


Was thinking about grabbing some
siacoin, Acoin, and reddcoin at this point
I'd appreciate any thoughts on this spread
Click to expand...

Another person in on Humaniq. :yes:
 
Chevyboi3k said:
Yeah I caught it before he posted but not anywhere near how I wanted. I only spent like 150 on it but have already pulled that back still 150. I hope it drops down so I can get some more.
Click to expand...

ya bills struck oil on that one...shit's already earned me $10k+ ($6k+ profit)

bills and spec got the juice now

thread was de-stickied way too prematurely...this shit really is just getting started
 
LSN said:
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
Click to expand...

What are ya'll using to buy? My homegirl put me on to bittrex this afternoon and I was going to check it out but ehhh
 

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