BECOMING RICH - EP. 27. - Status
Let's recap some of the current trades shortly. It looks like there was a small correction in the cryptomarkets on coimarketcap. While many coins were devastated, Edgeless is still rising:
Incredible, almost all coins took a hit, including Synereo. While Edgeless is still going strong. Damn I wish I had bought more earlier, but I think there is plenty of time left so I will probably just buy more Edgeless.
Edgeless still didn't got it's casino license, so this is still just anticipation, but when it will, because I think it will, then sky is the limit, the price will skyrocket then in my view.
Why? Because Edgeless will be licensed in Curacao not in the US which is very a horrible environment for businesses, they turned down the Bitcoin ETF, so that sucks. But places like Curacao are perfect offshore countries for businesses.
Also it looks like the Lounge system is about to come out soon, I don't quite fully understand it yet, so for now just keeping the EDG in the wallets is a good idea, but later on, it looks like people can participate in the lottery which will reward people from the casino profits. I am not sure if it will be automated or not, so I am not commenting on this yet:
Synereo
On the other hand Synereo took a smaller hit of 11%, which is really nothing in this world. If you were a stock trader you would scream for a 11% loss, but here in the crypto world, I had even a 50% loss which bounced back into a 1000% gain, so it's really not big deal.
In fact I think this is the last chance to get into Synereo at a discount, because it looks like the BETA software will come out on June 30th, only 5 days left, so this is like a God-sent gift to people who want to get into it, because after June 30, the price could literally skyrocket to 200,000 satoshi if all goes well.
I mean Synereo is extremely undervalued in my opinion, but people can't see this because there is no product yet. So once the product comes out, people will realize this, it's an awesome project.
Steemit
Well Steem is stagnating at the moment, although I am sure the userbase is growing, @elyaque has nice stats on this, so follow him for daily updates.
Also I am hearing complaints about Poloniex and Bittrex reportedly not processing Steem transactions. Well that could be bad, so that could be an explanation why Steem is stagnating.
However I also think Steem's price went up just massively, I mean I made like 1000% profit, so of course no market can go up forever, there has to be some pause, perhaps a correction a some point.
I also think this is the time when people can grow their audiences, like I got basically 100 followers in a few days. I think even though the price is stagnating, you can grow your blog in the meantime, so your rewards will always stay sharp.
Markets
You can just checkout the above mentioned coin markets here:
- https://coinmarketcap.com/currencies/steem/#markets
- https://coinmarketcap.com/assets/edgeless/#markets
- https://coinmarketcap.com/assets/synereo/#markets
Disclaimer: The information provided on this page might be incorrect. I am not responsible if you lose money using the information on this page! This is not an investment advice, just my opinion and analysis for educational or entertainment purposes.
Sources:
https://pixabay.com
https://coinmarketcap.com/
"If you were a stock trader you would scream for a 11% loss"
For a second I received an image in my head of some fat stock trader with sweat all over his face throwing papers into the air after spilling his coffee mug on the dirty rug in some noisy, American office.
Indeed. Such schmucks :')
Yes like the 80's stock traders in some small office. I can imagine that.
You've opened my eyes towards Synereo. I bought in at $0,03, then sold for 3 times the price which was just around the time when I got into crypto for real. I needed the motivation boost of quick shortings, so I'm not sad I sold as I've generated so much profit because of the fast gains which I, in turn, have turned into long term investments later on, i.e. the shortings sort of established me in the world of crypto trading, and now I'm ready to take on long term trades such as Synereo.
However my only concern is with the past controversies in the Synereo community. Something about RChain and unprofessionalism within the developer's sphere there made a lot of people angry and upset about the project on a whole.
Also, did you try the alpha? Maybe you know someone who has? If you know anything, is it any good?
Great post! You almost never fail to make me laugh with your [deserved] mockery of non-crypto idiots.
The Synereo team is still young, don't be too harsh on them, they are doing their best, and they have been working hard to make up for that RCHAIN fiasco.
It's still a promising project, I have watched many podcasts where they have explained things. I wish they would have more public appearances, I guess they will do that after the product release. Their marketing arm needs to be better.
No I haven't tried the alpha, but it's public on Github I believe, but I will try out the beta after it's released.
I looked into the Edgeless business plan and there seems to be no profit in this venture. 0% edge for the house? Okay, then the casino makes no money. If the casino makes no money what is in it for the token holders?
Synero AMP I was going to buy last night but Bittrex was really slow at showing my dollars in the wallet. So, I decided to leave it for today. Looks like a time to buy in. If the same thing happens for Synero what has happened with Steem, we should see a 10x in this year.
Gridcoin has gone up by 100% in the last month. Gridcoin has a use apart from a currency.
0% edge to the house on Edgeless only if the person plays every hand perfectly....which is rare. So, there is some profit for the house. But, I agree....it's super low profit, so why own the coin?
Some people calculated about 1 ETH profit / month for 14000 EDG holdings:
Thats still way more than your average stock dividend :)
Edgeless is 58 cents right now. 58 cents x 14,000 = $4709. I ETH today is around $326. That's a return of about 7%. If that's annual, then run...don't walk away from Edgeless. If 7% is monthly, then it's ok....but please please don't compare a token like Edgeless to the stock market.
Excellent question @leprechaun
It's not a 0% house edge, that is just a marketing gimick. There is a house edge the way I see it, it's just that there are some cases when the edge is 0. There might also be like a commission system, like a fee charged when playing or something like that. But rest assured there is a revenue stream , which is paid out to EDG holders.
Amp is awesome, and very underrated project, I see an easy x10 price increase there. I already made there almost 400% profit, so I don't know why people are criticizing it? But much more profits are on the way in my view.
I don't like Gridcoin, it's one thing that there is a useful project and there is another thing that it doesnt generate revenue.
Same with Namecoin, very useful project, but I just don't see a profit there.
I like the idea of Namecoin, but I agree with you that there is no profit in it. Namecoin is missing something very important: Browser acceptance. There are no browsers that use Namecoin domains natively. That's why domains like xyz.com sell for hundreds of thousands of dollas whereas the xyz.bit isn't likely to fetch you fifty bucks. Lack of good governance.
There are servers you can set your browser to use when bit is used but that's a hack. I open any browser in the world and I can open steemfiles.com. steemfiles.bit? Why bother?
It will eventually come around in my opinion. But I would not invest in it yet. It's on my watchlist though.
Life is full of surprises
I was in Synereo for a little bit, but they keep delaying their beta. And the testing phase was closed off so very few people actually got to see the product. I read somewhere it would only work for youtube?
Well they said the product will launch in June, so they haven't lied. Now they say the launch is in June 30, so that is right inside that timeframe.
Just wait and see, June 30 is the big day!
Are you into Decent? They too release on June 30.
Nope, there are too many things out there, and I don't have any more money to invest. I would have to sell my farmland which I would rather not.
At first glance it looks like STORJ, what is the difference?
True....technically June 30th is still June! I think the rumor before was the 15th, then the 22nd, now the 30th.
"Buy on Rumor , Sell on Fact"
Seriously just ignore rumors, just research what Synereo is about.
I have....like I said, I owned some for a while. Just got tired of waiting to see the actual product. If the release is worthwhile, I'll be the first to jump back in. Happy to pay a higher price if it's a good product.
Yes because it's relative, but acquiring nice wealth to support my wife and my future kids is necessary. I mean wealth can unlock the potential of the individual, to create things he could not do before.
Money is necessary.
I wish I had been on Steemit earlier so that I could have followed your crypto analysis. I am planning to buy edgeless and try. Thanks for your blog. Upvoted
I would be honored if you check my latest blogs when you have time. I have posted my first tiger picture today with a story about my encounter with that tiger. Your comments will be highly appreciated. Thanks.
Very profesional post!
Thanks
And awesome steem power, btw how did you organise it to spend? I think it's dificult
I dont understand
I meant how are you upvoting 40% 60% 100% and who are those who benefit of it 😁✌
I think you should checkout the Steemit faq and see how it works:
https://steemit.com/faq.html
After reading your post I bought Edgeless and so far am a happy man.. I However bought alot more AMP and now I think I should have gotten more Edgeless instead.. The 11% dip is not bad. I only wish AMP could have organised a better countdown on their website or something like what Antshares did.. Well, I will give it 6 more days and see how it will behave.. I will get more EDG on the next dip.. I dont think the price will immediately skyrocket after the better release.. When the BETA gets released traders will sell their AMPS and buy back later..
I agree, AMP seriously needs a professional marketing team, they have been working hard on the software, and have hired many new developers, but they forgot about marketing. I guess they will need to change that after the product is launched.
But other than that I think Synereo is a great project, content is better than appearance, and you can spot a great project by looking at the devs focusing on the project not on the apperance. Overmarketing is not good either.
Thanks for sharing with us@profitgenerator,
good to know what people do trade on, I'm now following you.
Considering to start writing on Steemit about my own crypto portfolio. :)
Good post. Interesting to see I'm not the only one that is thinking about this. I strongly advice people to only buy in to cryptos that have a solid background: A solid team, product, advisors, preferably VC investors, etc. Sell all cryptos that don't have this solid background. It's a waiste of money. Personally I always use: https://www.coincheckup.com If you want to know more about the: team, product, communication transparency, advisors and investment statistics on every crypto then this is your go to platform.