Why I’m Buying Golem Network (GNT)
Golem was one of the few cryptos that went relatively unscathed after the recent China ICO crackdown.
Then it got a nice pop yesterday, trading up to nearly $0.50, after a Golem mention by OmiseGo (OMG).
More on that in a moment.
Golem Network is a worldwide supercomputer. And it has been likened to an AirBnB of computing horsepower. In other words, if you have a computational heavy task, you could outsource it to Golem.
I didn’t think much about it until someone told me about the computing power it takes to produce a Pixar film. Those films have 24 frames per second, and each frame takes over a day to render. That’s some serious computing time.
What companies like Pixar do is hire rendering farms, which do the processing for them.
I did a little research on rending farms. It’s a decent size industry, over $3 billion. So it’s a big opportunity for Golem.
And then I found this article, which shows how Golem can be a cheaper option.
Considering that, Golem could become a very valuable project.
Ok, so where does OmiseGo come in?
Well, they tweeted about Golem yesterday and that seems to have caused the recent surge in the GNT pirce.
I tried to watch the Golem meetup in Berlin, you can find the video here, but frankly the audio is terrible and it’s barely watchable.
I’ll continue to research the OMG and GNT connection. But for now, I like GNT enough on its own for a speculative crypto play.
For more on cryptos follow me @g-dubs and on SteemFollower
I ended up getting in on the news and riding a small wave, then cashing some of my GNT tokens out. I think that it is a great project, long term, if they can deliver. They have already missed a deadline though, so that's kind of a negative.
The "connection" was posted a lot on reddit. Here is the link to the one that made me realize it was basically hype.
https://www.reddit.com/r/omise_go/comments/6vswq1/how_closely_linked_are_the_omisego_team_and_golem/
Thanks for sharing. Reddit is useful, but I take some of the posts w a grain of salt ;-p But w/ OMG tweeting about GNT, makes it more credible.
For sure. I'm still excited to see how this all unfolds.
I had some GNTs, but I have sold them all. Golem is a good project, but I think it will take them to long to give out a good running product that people would want to pay for. So, I decided that sticking with BTC might be wiser.
That's a good point. My holdings in BTC are much greater than GNT. I still like GNT though as a long-term speculative play.
I got some golem, very little some haha, but having even a dollars worth of something keeps me researching and watching! Good post dubs.
Nice. With cryptos a few dollars can turn into a whole bunch!
Upvoted and also resteemed :]
Cheers!
What are some competitors with Golem? Love the idea, but something that is years away from working is bound to have something come in and try to steal market share at some point
MAID and rendering farms are competitors.
Yeah, I'm interested in Golem as well. Many people said it didn't have that much potential, but I guess you just have to do your homework. I'm glad that someone has put out some more information on exactly what Golem does, as I was having trouble finding more. Great article by the way!
Glad you found it informative, thanks!
Wow that's good
Cheers!
nice buy and insight. Too many coins for me to keep track of .
Golem then Monero.
Siacoin has a great concept tho.
Been long XMR for a while and still holding. SC, I like the concept too but don't like the fees go to SiaFunds and not the token holders. SiaFunds all owned by insiders.
Great...kindly keep us updated
Thanks, will do