I am not really getting the whining around projects fucking people over. Here is my view on it.
If you invest in projects where there is only hype and you see no fundamental advantage of their tech/solution - it is a marketing ploy which you are biting. However, it easily evaporates as soon as a small issue occurs. Thesis: you gambled for x2, and got -2. Suck up your risks, you knew it.
You saw the hype. You thought you could flip. Turned out there was nothing behind them, and your bet did not play out. Now people are calling for smart contracts, trustless execution of sales and etc... but wait, do you not see a fundamental flaw in this?
Investing in ICOs is investing in ideas. It is your belief that the team will carry out what they promise. Therefore, if they can’t even be honest about the sale terms, do you expect them to carry on properly? Nah. Thesis: an investment in an ICO has a huge trust component in it by default.
‘But Ivan, there are DAICOs!’
DAICOs are easily gameable, that is too risky. First of all, voting can be skewed, thus leaving even a good project empty-handed. Secondly, a project might shift its course once they define their go-to-market strategy and find a better fit for the market which was not initially seen - also hard to implement with DAICOs. Lastly, the phrasing of development stages will get very broad to facilitate any delays, then it will cause further suspsicions, you will have to get a third party to verify it… and then again you come to the issue of trusting that third party. I do not think they are the perfect model. I will try to think of a few - please send me suggestions!
Overall: read papers, educate yourself, or you will keep playing PnDs and getting fucked over. Or maybe just go back to lending coins 😏
If you invest in projects where there is only hype and you see no fundamental advantage of their tech/solution - it is a marketing ploy which you are biting. However, it easily evaporates as soon as a small issue occurs. Thesis: you gambled for x2, and got -2. Suck up your risks, you knew it.
You saw the hype. You thought you could flip. Turned out there was nothing behind them, and your bet did not play out. Now people are calling for smart contracts, trustless execution of sales and etc... but wait, do you not see a fundamental flaw in this?
Investing in ICOs is investing in ideas. It is your belief that the team will carry out what they promise. Therefore, if they can’t even be honest about the sale terms, do you expect them to carry on properly? Nah. Thesis: an investment in an ICO has a huge trust component in it by default.
‘But Ivan, there are DAICOs!’
DAICOs are easily gameable, that is too risky. First of all, voting can be skewed, thus leaving even a good project empty-handed. Secondly, a project might shift its course once they define their go-to-market strategy and find a better fit for the market which was not initially seen - also hard to implement with DAICOs. Lastly, the phrasing of development stages will get very broad to facilitate any delays, then it will cause further suspsicions, you will have to get a third party to verify it… and then again you come to the issue of trusting that third party. I do not think they are the perfect model. I will try to think of a few - please send me suggestions!
Overall: read papers, educate yourself, or you will keep playing PnDs and getting fucked over. Or maybe just go back to lending coins 😏
What I think of when I hear smart money and smart investor.
From now on my spirit animal is a lemming 🐒
Thanks to Akanshu for the video
youtu.be/AOOs8MaR1YM
From now on my spirit animal is a lemming 🐒
Thanks to Akanshu for the video
youtu.be/AOOs8MaR1YM
YouTube
lemmings jumping off cliffs
Lemmings jumping of cliffs. Some think its sad but it's part of their nature.
SEC strikes again! This time it’s not crypto, but our boi Elon Mars
PS: for shitposting on twitter and “taking Tesla private” without funds being #SAFU
The settlement, which is still subject to court approval, includes the following:
- Elon will pay a civil penalty of $20 million and give up his role as chairman of the board for at least 3 years
- Tesla will pay a $20 million fine, and appoint two new independent directors to the board
Elon, remember, SEC can’t get you on the moon! That being said… wen moon sir?
PS: for shitposting on twitter and “taking Tesla private” without funds being #SAFU
The settlement, which is still subject to court approval, includes the following:
- Elon will pay a civil penalty of $20 million and give up his role as chairman of the board for at least 3 years
- Tesla will pay a $20 million fine, and appoint two new independent directors to the board
Elon, remember, SEC can’t get you on the moon! That being said… wen moon sir?
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Your portfolio in the last few months
Interesting stuff: blog.bitmex.com/ethereum-holdings-in-the-ico-treasury-accounts. Quote: ICO treasury accounts have a much lower level of exposure to the price of Ethereum than many may have thought.
‘I hired a treasury service to increase my line of credit, which is smart’ (c) ICO
So... Are you done? Did you finish? Is your network dominating the world, making it a better place?
You raised money for a tech project, and instead of building stuff - you are hiring asset managers and diversifying your risks? Excuse me, did you not raise the money for building the product?
Your money must go into events facilitation, hackatons, ecosystem development and hiring developers. I did not contribute to your project for you to be running around buying equity, real estate and making your own VC which has no relevance to your project. Stop with those bullshit arguments about diversifying risks. You raise money, you build the product you promised, you launch it and market it. Otherwise you are a total scam. Period.
So... Are you done? Did you finish? Is your network dominating the world, making it a better place?
You raised money for a tech project, and instead of building stuff - you are hiring asset managers and diversifying your risks? Excuse me, did you not raise the money for building the product?
Your money must go into events facilitation, hackatons, ecosystem development and hiring developers. I did not contribute to your project for you to be running around buying equity, real estate and making your own VC which has no relevance to your project. Stop with those bullshit arguments about diversifying risks. You raise money, you build the product you promised, you launch it and market it. Otherwise you are a total scam. Period.
OKEx, Bibox, KuCoin, IDEX, Coinsuper, Gate - which of those you would prefer to see your token get listed on?
anonymous poll
KuCoin – 130
👍👍👍👍👍👍👍 44%
OKEx – 81
👍👍👍👍 27%
IDEX – 48
👍👍👍 16%
Bibox – 20
👍 7%
Gate – 9
▫️ 3%
Coinsuper – 8
▫️ 3%
👥 296 people voted so far. Poll closed.
anonymous poll
KuCoin – 130
👍👍👍👍👍👍👍 44%
OKEx – 81
👍👍👍👍 27%
IDEX – 48
👍👍👍 16%
Bibox – 20
👍 7%
Gate – 9
▫️ 3%
Coinsuper – 8
▫️ 3%
👥 296 people voted so far. Poll closed.
Rchain Drama ELI5
PS: thanks to @c0mm0n and @Daryllautk for raw info
- Greg Meredith (CEO of R-Coop) hired external devs (Immersion) to work on Rsong, agreeing to pay $23m
- They have a $6m payment due coming up, and Rchain has a major cash crunch
RSong, their music thing: https://drive.google.com/file/d/1S5be3cnHMe30gZRjEUqToQc5IkJ9po5s/view
PPS: I usually post porn, so making actual content is unintuitive to me - if there is something I missed, let me know 💁♂️
PS: thanks to @c0mm0n and @Daryllautk for raw info
- Greg Meredith (CEO of R-Coop) hired external devs (Immersion) to work on Rsong, agreeing to pay $23m
- They have a $6m payment due coming up, and Rchain has a major cash crunch
RSong, their music thing: https://drive.google.com/file/d/1S5be3cnHMe30gZRjEUqToQc5IkJ9po5s/view
PPS: I usually post porn, so making actual content is unintuitive to me - if there is something I missed, let me know 💁♂️
Balance Sheet for Coop_Oct 09 2018.pdf
84.5 KB
TL;DR let me summarize the summary for you: looks like they are rekt, sir.
When regulators come and we get STOs (liquid equity pretty much), it will be like this:
- You will not have access to the best deals
- You will still be buying shitcoins that are left
- You will buy good deals at x10 off the hands of funds
Wait… still sounds like ICOs but worse. You know what the difference will be?
- You will not have access to good deals at all (while for now you have crowdsale)
- You will have to submit 100 papers to KYC and etc.
- Your profits will not be x2, but 10% yearly
Go home and cry to your daddy regulator - or maybe start reading whitepapers? Your choice.
- You will not have access to the best deals
- You will still be buying shitcoins that are left
- You will buy good deals at x10 off the hands of funds
Wait… still sounds like ICOs but worse. You know what the difference will be?
- You will not have access to good deals at all (while for now you have crowdsale)
- You will have to submit 100 papers to KYC and etc.
- Your profits will not be x2, but 10% yearly
Go home and cry to your daddy regulator - or maybe start reading whitepapers? Your choice.
What is more painful?
anonymous poll
Holding shitcoin bags – 113
👍👍👍👍👍👍👍 71%
Having your ball bag stuck in a chair – 46
👍👍👍 29%
👥 159 people voted so far. Poll closed.
anonymous poll
Holding shitcoin bags – 113
👍👍👍👍👍👍👍 71%
Having your ball bag stuck in a chair – 46
👍👍👍 29%
👥 159 people voted so far. Poll closed.
The results of three polls performed by the UK research association
1. I was very surprised to see KuCoin majorly outperform other exchanges in the voting list. This basically means that KuCoin can be called a TOP-3 exchange for alts when it comes to accessible exchanges after Binance and Huobi. What I mean by ‘accessible’ is that Bitfinex kills alts, and Bittrex/Bithumb are not exclusively listing coins, so they do not count. Quite a revelation for many of us!
2. People do not want to give up their salaries for blowjobs at their work desks (ok sure thing…)
3. Having your balls stuck in a chair is not as painful as holding shitcoin bags. An interesting finding as well.
UK research team will be back with more quality uncorrelating results!
Next up in the list: what is the correlation between BTC price and your weekly visits on pornhub.
The assumption the UK research team has stated is that with the growing market, hamsters get their adrenalin from trading and jerking off to their Delta/Blockfolio stats, hence pornhub loses their revenue. There is a rumour that pornhub is shorting BTC to not go out of business. More TBA.
1. I was very surprised to see KuCoin majorly outperform other exchanges in the voting list. This basically means that KuCoin can be called a TOP-3 exchange for alts when it comes to accessible exchanges after Binance and Huobi. What I mean by ‘accessible’ is that Bitfinex kills alts, and Bittrex/Bithumb are not exclusively listing coins, so they do not count. Quite a revelation for many of us!
2. People do not want to give up their salaries for blowjobs at their work desks (ok sure thing…)
3. Having your balls stuck in a chair is not as painful as holding shitcoin bags. An interesting finding as well.
UK research team will be back with more quality uncorrelating results!
Next up in the list: what is the correlation between BTC price and your weekly visits on pornhub.
The assumption the UK research team has stated is that with the growing market, hamsters get their adrenalin from trading and jerking off to their Delta/Blockfolio stats, hence pornhub loses their revenue. There is a rumour that pornhub is shorting BTC to not go out of business. More TBA.