Golem (GNT): What is it and is it a good investment?
GOLEM
Golem is an innovative piece of technology working toward the decentralization of computing power. Golem is still relatively new. But, if successful, it would essentially be an accessible-to-everyone, distributed, global supercomputer.
They had their ICO in April 2017.
Golem's Goal:
Providing computing power to the sharing economy, an economic system whereby services or assets are shared by private individuals for a fee. Meaning, you only pay for as much as you use. Renting a supercomputer's processing power instead of buying one for yourself.
Golem aims to redistribute computing power. Contributors donate their ‘spare CPU cycles’ to Golem by carrying out tasks delegated by the users of the network, in exchange for money. Under this concept, a global pool of computing resources (whose computational power will be unparalleled compared to what is available today) can be tapped into inexpensively.
So where is Golem currently?
Golem is currently in alpha, codenamed ‘Brass Golem,’ and is only capable of carrying out Blender CGI rendering.
For small-time animators and designers, Brass Golem can be a good alternative to expensive cloud-based rendering services or waiting forever for their own machiens to render.
Where can it go?
Golem looks like a promising project. If successful, Golem could be an invaluable tool for medicine, machine learning, business, graphics, and cryptography. The mid-long term future seems bright.
Trading:
At the moment GNT is having a small bounce off it's lows. Depending on your personal trading time frames, a short or long trade seems to be ideal at current market conditions.
Good luck!
(I personally hold no GNT at the time of this post)
One of the half dozen currencies I carry long term. I believe it has a huge upside even though I am at a loss with Golem to date.
So the volume of Golem crypto currency is based on the available community of computers that can process problems? I think this social media platform crypto currency 💴 Steemit is based on unique users creating an advertising base.
Beautiful, I'm preparing for an entry long term stake soon. Just need to get rid of that useless bitcoincash :D
It has gone up 50% today so in the short term Bitcoin Cash is very useful haha ;)
Haha indeed, helping me fund my new GNT position. TY BCC :D
I used mine to throw mine at NXT when BCC was at its peak last night (Aussie time) which then proceeded to boost! Felt very clever I must say haha
Nice! I've been seeing a lot about NXT on various forums, I'm going to have to look into it.
It has the IGNIS ICO attached to it which happens on the 5th which is why its hyped currently I believe.
For every NXT owned we recieve 0.5 Ignis into our wallet for free OR we can participate in the ICO and recieve 1.5 Ignis per NXT.
Personally torn on how to play it!
That is definitely a tough dilemma! I tend to be more risk averse and would probably play NXT to free Ignis as opposed to ICO. But its exciting either way.
I watched a show on ABC 's 20/20 where they talked about a group of computer scientist that I hooked together Like a thousand PlayStation 3 . They use the connective computing power to build a super computer @briandenver it wasn't as smart as Watsons IBM super computer but it was a whole lot cheaper.
I know exactly what you're talking about. That was about 7 years ago and the US Air Force connected 1,700 PS3's together. Good call! @briandenver
I would hate to see what their Best Buy in store credit card balance would be after that fiasco. For me if I was gonna buy that many PS3's I get them on craigslist Ha ha ha.
Great Article,
I am a huge FAN of Golum and believe it's potential is something worth watching. I would highly recommend doing some due diligence on this asset. You won't see these prices next year..
Can you buy golem crypto currency using Steemit? Has anybody ever cashed out there golem currency for US dollars?
You can send your STEEM to an exchange, like bittrex, sell it for bitcoin and then buy GNT(golem). If there's another way I'm not sure. That's how I would do it.
You would then sell Golem for btc on the exchange and transfer that btc to coinbase and then you convert that bitcoin to cash and deposit it in your bank account.
Yep, the more I look into it, the more I love it. I'm setting aside as much as I can right now so I can jump in.
THE WAY YOU EXPLAINED IS THE CORRECT WAY. I'VE BEEN IN THIS SPACE FOR ALMOST 5 YEARS, HAVE SEEN TOO MANY ASSETS GO FROM NOTHING TO SOMETHING, BUT THIS IS ONLY THE BEGINING. ETHEREUM JUST TURNED 2......WHILE APPLE IS 41 YEARS OLD.....IF YOUR NEW.......PLEASE LISTEN...I'VE BEEN PREACHING THIS FOR 5 YEARS......DO YOUR RESEARCH, UNDERSTAND YOU ARE YEARS EARLY TO THIS PARTY....FIND GREAT ASSETS, STORE THEM IN WALLETS, NOT ON EXCHANGES, AND BE PATIENT. KEEP ADDING TO YOUR PORTFOLIO WEEKLY.....EVEN IF IT'S $10....BACK 2014 EACH BTC BOUGHT 2000 ETHERS FOR ABOUT $600 BUCKS....2 YEARS LATER $600 EQUALED $800,000 THOUSAND....YOUR BLESSED TO BE HERE.....THAT PATTERN WILL REPEAT MORE TIMES THAN YOU CAN IMAGINE. IT ALREADY HAS QUITE A FEW TIMES, JUST DO YOUR RESEARCH....IT WILL PAY OFF BETTER THAN ANYTHING IN HISTORY....I'M LIVING PROOF.... JUST BE PATIENT.
Thanks for your reply. I agree completely and I think we're all lucky to be at the forefront of a new birth of wealth and exciting times.
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I have 4 iPhone 4s, three laptops, and a desktop computer. Sometimes I wonder how much computing power they would have if they worked all together. Maybe some of the dead. Miners will learn how to link all computers together to mine bitcoins.
I'm sure, as the market gets more attractive for processing power providers, they will always find ways.
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Nice post on Golem I have a little bit on Bittrex having been recommended by a youtube chanel I follow called Nuggets News. I have read the white paper and seems good. Currently also looking at Storj as well but have not really researched it that much.
Thanks :)
Nice, I've been hearing about Storj as well. I'll add it to my list of topics to discuss.
Been thinking about buying and holding a bit of golem. Think I might. Thanks for sharing this.
Absolutely @exavier , thanks for taking the time to read it. I picked up a small lot the other day and will continue to monitor GNT's progress.