Golem up 170% in 24hrs - A Review Of Golem

Golem up 170% in 24hrs - A Review Of Golem

Golem's Price ran up from $0.276 to $1.88 or 561% in one day. Then settled back to a gain of about 170% as I write this. You might ask why?

The Golem Project Tweeted

Prorsum et sursum ad excellentiam. Golem is proud to announce we have finally launched our Brass Beta into mainnet. We still have a lot of work to do - but this marks a new beginning for us

Commentary

This is good news indeed. I have been invested in Golem since the early part of the ICO. I've traded a portion of my Golem (GNT) holdings in and out since the ICO and made a tidy profit on those trades. However I lightened my core holding by a very large percentage after they missed the roadmap date for Brass by a wide margin. I've been recency buying back into GNT since the price was so depressed.

I have put quite few friends and family into Golem since the ICO and they have done well just holding it. I am holding Golem tokens symbol GNT for the long term. This could be huge in time, I've always believed that.

Price history GNT price has risen from about $0.01 to a high of $0.68 before falling back down to about $0.20. In December it hit an all-time high around $1.16 before falling to about $0.19 in recent days. I've been buying back in since the price fell to $0.23 and lower.

The Golem developers had come under fire in the intervening period since Golem’s ICO ended in November 2016. Golem missed their roadmap projection for the release of Brass Golem the first production version of Golem. Owners of Golem Tokens fear feared the 820,000 ETH raised during the GNT token sale would not produce adequate value for investors.

The project team has been exceedingly cautious in this first production release leading to a long delay. After all, the project is a very ambitious one, to create a web based supercomputer that anyone can rent time and lease resources to. The decision to launch rather than continue closed testing has gladdened the market.

Golem's Tagline: Airbnb for computers. Rent your CPU/GPUs, get paid in cryptocurrency. A true cloud compute platform.

Golem was a big ICO in the early days of ICOs. It's a well funded project with a great development team.

Trading Summary

Long Term Buy and Hold, Short Term some very attractive trading opportunities on swings within it's trading range once a surge or decline in price has stabilized. If the current BTC rally continues the short term price goal for profit taking is about $1.08 at the R3 pivot on my chart.

A Review of the Golem Project

What is Golem?

Golem is a worldwide, decentralized supercomputer that combines the computing power of every machine on its network. In the Golem ecosystem, you can loan out your computer’s spare resources to others who need the additional power to perform complex computations and tasks. Following the same trend that led to Uber and Airbnb, this is a solid way to make some extra money with your unused and/or underused resources.

On the flip side, you can rent computing power from the network to perform or even just speed up tasks that your computer has trouble handling. This is ideal if you routinely perform intensive calculations for activities like natural language processing (NLP), artificial intelligence (AI), or even machine learning for DNA exploration. However, the Golem team is first focusing on CGI rendering – an area riddled with expenses and long wait times.

Earning money with GNT as a Computer owner

GNT is an ERC20 token that you use to pay for the computing power that you rent. As a provider, you’re free to set your GNT rental price at whatever you deem is appropriate. Because Golem is a marketplace, these prices should find an equilibrium over time. You’ll also need GNT to submit deposits as a provider and participate in the Application Registry.

Golem's ecosystem

Golem enables users and applications (requestors) to rent out cycles of other users’ (providers) machines. Any user ranging from a single PC owner to a large data center can share resources through Golem and get paid in GNT (Golem Network Tokens) by requestors.

Golem utilizes an Ethereum-based transaction system to settle payments between providers, requestors and software developers. All computations take place in sandbox environments and are fully isolated from the hosts’ systems.

Software developers are in the center of Golem’s ecosystem: Our Application Registry and Transaction Framework enable anyone to deploy, distribute and monetize applications in the Golem network.

We are currently in Golem Brass Beta which includes Blender and LuxRender, two tools for CGI rendering.

Later releases are set as follows:

Clay – Includes the Application Registry and Task API. In this release, developers will be able to integrate with the platform.

Stone – Includes the Certification Mechanism and Transaction Framework. With this release, Golem can be used in a SaaS model. Software as a service (SaaS) is a software distribution model in which a third-party provider hosts applications and makes them available to customers over the Internet.

Iron – Has increased security and stability. This version allows developers to create applications that run outside of the sandbox.

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All statements and expressions I offer are my opinions, and not meant as investment advice or solicitation. Information provided is not personal investment advice. Seek guidance from a professional investment advisor before trading or investing. Trading cryptocurrencies can be a potentially profitable opportunity for investors. You should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly, do not invest money you cannot afford to lose. I am not a registered investment advisor.

Wishing you success,

Isaac

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