It hit a $1 so I sold.. now it's back at .60 thinking about jumping back in with 5k
Official BGOL Crypto Currency Thread ★★★★★
- Thread starter Matt Beesy
- Start date
I'm going to start doing that. Smart move. Market is down right now.
they should cancel those sales... imo
Yes they should. No one is going to trust ETH or that exchange if they don't
I found this comment about QRL
There is plenty of time before Qubit computing becomes scalable.
Here is the point, you could have D Wave 2 right now in you house that will be (by the end of the year) 3600 x faster than the current best supercomputer.
Great, yeah
Now connect it to the current infrastructure and watch it fail... big time.
To use 512 Qubit computing on anything you would have to use connections to a system of the same speeds using data transfer by entanglement to even be able to communicate the simplest data.
Lol QRL is The Emperor's New Clothes...
There is plenty of time before Qubit computing becomes scalable.
Here is the point, you could have D Wave 2 right now in you house that will be (by the end of the year) 3600 x faster than the current best supercomputer.
Great, yeah
Now connect it to the current infrastructure and watch it fail... big time.
To use 512 Qubit computing on anything you would have to use connections to a system of the same speeds using data transfer by entanglement to even be able to communicate the simplest data.
Lol QRL is The Emperor's New Clothes...
Armed with an Ethereum ICO, Can Kik Succeed Where Facebook Failed?
Jun 21, 2017 at 12:30 by Michael del Castillo
Social media network Kik is on the verge of launching its own ethereum ICO, making it the first mainstream social network to feature cryptocurrency as a core component of its services.
With more than $100m in venture capital invested so far in the company, and what they claim is 15 million monthly active users, the social network that made a name for itself by incentivizing interactions with a points system seems ripe for cryptocurrency adoption.
But this is not the first time someone has come up with the idea, and in spite of what appears to be an impressive number of users, this is still a significant decline from just a couple years ago when it had a reported a total of 200 million registered users.
Among the failed past attempts at similar efforts are no less than Facebook itself, which in 2013 unceremoniously shuttered its own Facebook Credits program after less than two years in existence.
Mindful of the obstacles to changing user behavior, Kik CEO and co-founder Ted Livingston initiated a 2.5-year experiment, called Kik Points, to learn if his social media followers would transact where so many others proved unwilling.
Following the publication of the trial results last month, Livingston explained to CoinDesk why the lessons learned from that data will finally set the stage for the successful integration of social media with cryptocurrency.
The CEO said:
"If we can make this work, we can build one of the largest, most adopted cryptocurrencies in the world, just by integrating this into Kik, and putting Kik Points on the blockchain."
What the data showed
Founded in 2009, Canada-based Kik raised $120m venture capital from investors including Union Square Ventures, RRE Ventures and others, with then-partner Adam Ludwin of Chain at one time joining as an advisor.
As early as 2011, Livingston said Kik was interested in the potential to use a cryptocurrency to "monetize the consumer community" without having to force advertisements onto their page or sell virtual goods, both of which they have done in the past.
To test the theory, the startup launched Kik Points in 2014 to measure the demand for a product that lets users charge each other for basic services and to learn more about how those users conduct such transactions.
Then, on 11th March, 2017 – exactly months before the announcement of its plans for 'Kin', Kik’s own cryptocurrency – it shut down the system.
The published results of the test, which concluded in 2016, shows that Kik users completed 253 million offers for points for doing tasks such as viewing ads, and spent those points on 74 million purchases. On average, 300,000 transactions were conducted per day, with a peak of 2.6m transactions.
"There were two things it was meant to test," said Livingston. "One is, could digital currency be used to incentivize opt-in advertising? Two is, could we use a digital currency to build an economy? We were trying to test those two things at the same time. What we found it's yes to both."
The main differences between Kik Points and Kin are that the tokens are capped, helping to minimize the potential impact of inflation. Additionally, the use of ethereum's ERC-20 standard means the tokens can be removed from the Kik ecosystem and spent, or traded elsewhere, and eventually cashed out for fiat currency.
Can the success be converted?
In spite of user behavior that seems to support the willingness to use a cryptocurrency-like system, history is in many ways still stacked against Kik.
In September 2013, when Facebook shuttered its Credits program, the social network already had monthly active users including 874 million people, according to a report by The Next Web. That’s about 1,650% more than Kik currently has.
Also, in a 2012 blog post, the director of Facebook's project management cited the simplified "purchase experience" of using fiat currencies and the increased use of native virtual currencies in Facebook games as contributing factors to the decision to shutter Credits.
While Facebook's difficulties integrating a native currency into a social network are certainly the highest profile, it is not alone.
After raising over $1m back in 2015 to create a bitcoin-based incentivization token for sending social media messages, GetGems has seemingly disappeared, with its most recent Skype group chat dating back to July 2016.
However, a lot has changed since those earlier attempts to merge social media and a native currency.
Industry evolution?
Kik’s native currency, Kin, is being built in accordance with the relatively new ERC-20 standard that has helped lead to more than $300m being raised in cryptocurrency via ICOs this year alone.
Also since those early days, companies like Zcash and Ripple have innovated by setting aside a percentage of the total tokens for their own uses – a practice Kik intends to follow.
In this case, Livingston said Kik will hold for its own purposes 30% of the total tokens that will ever circulate.
Perhaps nothing demonstrates the new context more that the fact that, the month Facebook shuttered its Credits service, bitcoin's market cap was about $1.6bn and ethereum didn't exist. Now bitcoin is valued about $44bn and ethereum at $33bn.
While Livingston didn’t reveal the current finances of Kik, he emphasized that he hopes the currency will further align the interests of his users and the company, who he says both want to see the products they create generate revenue.
Livingston concluded:
Jun 21, 2017 at 12:30 by Michael del Castillo
Social media network Kik is on the verge of launching its own ethereum ICO, making it the first mainstream social network to feature cryptocurrency as a core component of its services.
With more than $100m in venture capital invested so far in the company, and what they claim is 15 million monthly active users, the social network that made a name for itself by incentivizing interactions with a points system seems ripe for cryptocurrency adoption.
But this is not the first time someone has come up with the idea, and in spite of what appears to be an impressive number of users, this is still a significant decline from just a couple years ago when it had a reported a total of 200 million registered users.
Among the failed past attempts at similar efforts are no less than Facebook itself, which in 2013 unceremoniously shuttered its own Facebook Credits program after less than two years in existence.
Mindful of the obstacles to changing user behavior, Kik CEO and co-founder Ted Livingston initiated a 2.5-year experiment, called Kik Points, to learn if his social media followers would transact where so many others proved unwilling.
Following the publication of the trial results last month, Livingston explained to CoinDesk why the lessons learned from that data will finally set the stage for the successful integration of social media with cryptocurrency.
The CEO said:
"If we can make this work, we can build one of the largest, most adopted cryptocurrencies in the world, just by integrating this into Kik, and putting Kik Points on the blockchain."
What the data showed
Founded in 2009, Canada-based Kik raised $120m venture capital from investors including Union Square Ventures, RRE Ventures and others, with then-partner Adam Ludwin of Chain at one time joining as an advisor.
As early as 2011, Livingston said Kik was interested in the potential to use a cryptocurrency to "monetize the consumer community" without having to force advertisements onto their page or sell virtual goods, both of which they have done in the past.
To test the theory, the startup launched Kik Points in 2014 to measure the demand for a product that lets users charge each other for basic services and to learn more about how those users conduct such transactions.
Then, on 11th March, 2017 – exactly months before the announcement of its plans for 'Kin', Kik’s own cryptocurrency – it shut down the system.
The published results of the test, which concluded in 2016, shows that Kik users completed 253 million offers for points for doing tasks such as viewing ads, and spent those points on 74 million purchases. On average, 300,000 transactions were conducted per day, with a peak of 2.6m transactions.
"There were two things it was meant to test," said Livingston. "One is, could digital currency be used to incentivize opt-in advertising? Two is, could we use a digital currency to build an economy? We were trying to test those two things at the same time. What we found it's yes to both."
The main differences between Kik Points and Kin are that the tokens are capped, helping to minimize the potential impact of inflation. Additionally, the use of ethereum's ERC-20 standard means the tokens can be removed from the Kik ecosystem and spent, or traded elsewhere, and eventually cashed out for fiat currency.
Can the success be converted?
In spite of user behavior that seems to support the willingness to use a cryptocurrency-like system, history is in many ways still stacked against Kik.
In September 2013, when Facebook shuttered its Credits program, the social network already had monthly active users including 874 million people, according to a report by The Next Web. That’s about 1,650% more than Kik currently has.
Also, in a 2012 blog post, the director of Facebook's project management cited the simplified "purchase experience" of using fiat currencies and the increased use of native virtual currencies in Facebook games as contributing factors to the decision to shutter Credits.
While Facebook's difficulties integrating a native currency into a social network are certainly the highest profile, it is not alone.
After raising over $1m back in 2015 to create a bitcoin-based incentivization token for sending social media messages, GetGems has seemingly disappeared, with its most recent Skype group chat dating back to July 2016.
However, a lot has changed since those earlier attempts to merge social media and a native currency.
Industry evolution?
Kik’s native currency, Kin, is being built in accordance with the relatively new ERC-20 standard that has helped lead to more than $300m being raised in cryptocurrency via ICOs this year alone.
Also since those early days, companies like Zcash and Ripple have innovated by setting aside a percentage of the total tokens for their own uses – a practice Kik intends to follow.
In this case, Livingston said Kik will hold for its own purposes 30% of the total tokens that will ever circulate.
Perhaps nothing demonstrates the new context more that the fact that, the month Facebook shuttered its Credits service, bitcoin's market cap was about $1.6bn and ethereum didn't exist. Now bitcoin is valued about $44bn and ethereum at $33bn.
While Livingston didn’t reveal the current finances of Kik, he emphasized that he hopes the currency will further align the interests of his users and the company, who he says both want to see the products they create generate revenue.
Livingston concluded:
All I wanna know is how in the hell did we miss this??!!
Nah, if they did that they would have to undo all transactions for ETH during that time. People who had a stop loss set, margin traders, everything. That ain't happening. That person made their trade fair and square and if that was any one of us we'd be screaming bloody murder if we made that come up and got snatched. ETH will be OK.
The keyword is "flash".
Bittrex still hasn't started trading it yet. WTF
Can somebody explain to me what the hell I'm looking at? Thank you period I would have loved for that to be me
Pump?
nothing particularly exciting or new...looks like the "hype" is over and the price will correct itself a bit...gonna see if it goes back down to $5-6 and buy more then
Yeah sold my ANS this morning like.
ya the news is over so it's gonna settle for a while...day traders and whales...those who just simply wanna pull out their profits etc. are moving on to the next coin...there's enough belief support potential in ANS tho that it won't fall completely off the map...it'll be in that "space" that WAVES and STRAT are currently in...good time to buy
someone in here earlier compared it to digibyte where the coin shot off prior to the conference...dipped soon thereafter
Is this a short of ETH? Funny FatihSK posted on twitter he shorted so it may be him. lol
Speaking specifically to this I've said QRL is for future tech from jump so this isn't a revelation imo. it's been a hold until it's useful now if you don't want to hold and get out now it's at a buck go right ahead no harm no foul imo but it was not supposed to be for right now in the first place
every ETH contributed results in the creation of 10k SNT...they have an early goal of $12M so if I'm correct that's about @ least 300M SNTs that will be created if ETH holds to about $400 when the ICO starts...still not 100% sure on how many SNTs the buyer will receive since they intend to keep 20% of the tokens created
*edit*
chart that shows how the tokens generated will be allocated...so even tho a donation of 1 ETH results in the creation of 10k tokens the buyer will not get 10k tokens
glad as hell the US wasn't allowed to participate in the ICO...seems like it was a giant clusterfuck...their "goal" was $12M which would've resulted in the creation of around 300M coins but there was no cap on that...I've heard rumors that they may end up w/ a supply of 7 billion coins
Basically a rebrand. They are now NEO. They talked about being resistant to quantum hacking. Talked about their new smart contracts. Showed off the new NEO virtual machine and how they will be supporting ICOs.
They basically went after Ethereum and seem to want Chinese ICOs to use them.
I stand corrected
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I think most of BGOL got in around rounds 9, 10, 11 or so. It was posted like on a sunday night, and cats just started putting in their bids. Seems like a lot of us in the crypto thread will be watching wagerr like
I think they might have to block US residents to get listed on certain exchanges. I've noticed that some exchanges won't list coins that offer 'illegal' services. Edgeless blocks us. If I don't use a vpn, I'm told to fuck off because I'm from the land of the free.
Fair and square?...you think so?
I got in, in round 5 and 6 for a total of 200k tokens. we'll see.I think most of BGOL got in around rounds 9, 10, 11 or so. It was posted like on a sunday night, and cats just started putting in their bids. Seems like a lot of us in the crypto thread will be watching wagerr like
I think they might have to block US residents to get listed on certain exchanges. I've noticed that some exchanges won't list coins that offer 'illegal' services. Edgeless blocks us. If I don't use a vpn, I'm told to fuck off because I'm from the land of the free.
Well damn I don't got
That many but I'll def be waiting. My employer requires I use a VPN so that maybe my way around that if they try with the fuck shit
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