A Crypto Challenge: What is your favorite cryptocurrency? - Let Me Explain Mine..

wisetoken (47)in #bitcoinbooming • 4 years ago (edited)

Hello everyone! I am new to the Steemit world and after setting up my account one of the first blogs I read was from @steemitblog, announcing a contest in regards to revealing your favorite crypto currency and It so happens my profile is my favorite crypto! I would love to share my insight.

Yes, Bitcoin is booming and has a high probability to continue to do so mainly because of the underlying principles that I find a lot of new cryptocurrencies coming out, lack.

One of the main reasons for Bitcoin's success is that it is ownerless, and decentralized. There is no one in control of the supply of bitcoin to entice greed, or unfairness, rug pulls and straight out scams. When it comes to distribution of bitcoin there are no airdrops, presales that give whales the advantage or anyone for that matter to dump immediately after it is announced for launch...or team tokens even, but instead with bitcoin if you contribute to the protocol and set up your hardware to verify transactions or otherwise known as mining you are rewarded. In the beginning those in the beginning mining were most likely not aware of how big that reward would be as time went on, as most of you know the story about the most expensive pizza purchased with bitcoin I'm sure. Also, there is no CEO or owner, the community owns bitcoin... the people's network.

So with that being said let's take a look and answer the challenge questions!

What is your favorite cryptocurrency that you hold or invest in?

Without hesitation my favorite cryptocurrency is Wise Token !

Why did you chose that cryptocurrency?

Well for the principles of our crypto pioneer Bitcoin being instilled for one, but not only that but several use cases that take the costly mining out of the equation resulting in no overhead other than gas fees to be rewarded. Everything is 100% decentralized, built on Ethereum's blockchain as an ERC-20 token, from the use of your Metamask Wallet giving you complete control and ability to work directly with the smart contract, and ownerless automated liquidity that is currently being reserved to be placed on the Decentralized Exchange known as Uniswap. The primary use case is staking, in that if you do decide to stake you are rewarded from daily interest based off inflation as well as the ROI in the token itself. WISE uses a unique technology that sets it up to pump harder and faster than any other crypto in existence. Also the base layer development is complete, audited by CoinFabrik and a 100 ETH reward to anyone that can find a bug in it's open source code on Github. Wise was developed by a team of 5 and founded by a unincorporated non profit by the name of Wise Foundation to ensure fairness and transparency for all involved and a safe haven from regulators. The massive locked and ownerless liquidity that will be on Uniswap is something that has never been done, and it is the first crypto to actually have PoV ( Proof of Value) as the ETH being used to reserve WISE is what will actually be backing the value of the token.

How long have you had that crypto?

No one currently holds WISE tokens as of yet, only reservations can be made in ETH through Metamask on this 50 day auction of roughly 250 million WISE tokens, that you get to know your allocated share at the close of each day - with some days being fixed distribution at 5 Million, and some days randomly distributed by an oracle for future days and the amount of people buying, it is not possible to know how many you can obtain until Dec. 31.

The deployment of the contract started on Nov. 11th 2020, and at the time of this writing we are on day 18. This way due to the current mind state of the general population of the crypto community when it comes to token sales there is an unfairness that plagues the industry with hype and pumps, or even air drops, only to be dumped leaving no one to utilize the actual project or investors to be interested due to lack of community using the it for it's purpose, won't occur with WISE. Here with all the randomness it is difficult for a whale to dominate this, and distribution fair, and to where at launch you would make even more if one utilizes their share of coins and stakes them to begin earning daily interest and also reducing the available supply which will be increasing the value. Here is the current Calendar and I have reservations solidified on all the days that passed from the beginning and some days my amount estimated since the day has not come yet. With it being now the 18th day, it is quite clear to see the lowest price was on the earlier days... however anything is still possible.

There will be roughly 525 million WISE tokens by the end of launch on Dec 31st 2020.
As stated above, 250 million WISE is currently being auctioned and reserved during the 50 days of launch for distribution to potential stake holders..
Another 250 million will make up the locked and ownerless ETH/WISE liquidity pool on Uniswap. (listing price equals the average price paid across all reservation days)
The remaining 25 million or less is paid to the referral contract.

What do you think of its current performance?

At the current pace I would say it is unmatched, flawless, and the best project out right now. Here is the dashboard for day 18, which is Nov. 28th 2020.

With $13,233,681.10 of ETH that will provide ownerless liquidity, plus the amount of WISE already allocated, if WISE was to launch today we would be ranked 15 overall by liquidity and we still have 32 days left to go. I'd say we are going to be the talk of Defi sooner rather than later.

What do you think of its future prospects?

Long term indeed. This is just the pure base layer. More can be built on top of it from anyone in the community. Wise Insurance and Lending is coming early 2021. There is nothing but growth ahead and decades to leave a legacy. Also.. ETH 2.0 makes it even that much sweeter to have WISE built on it.

Do you plan to hold, buy more or sell?

I plan to surely stake my WISE, and not just "HODL" it or HODL any crypto anymore, in fact that term should soon become obsolete since that is purely a roller coaster ride and staking and earning daily interest seems like the wise decision. As for buying I would not have to since I will accumulate more with the interests earned just to restake since daily interest can be obtained and liquidated anytime. However there is a range of penalties if you end your stake early. Selling WISE would be best suited if sold after the staking period ends, this way you earn both all the interest accrued plus the ROI on the value of the appreciation of the token.

What other cryptos would you like to buy and hold for the long term?

Even though I pretty much bet the whole farm on WISE token I do have my hand is some other great projects awaiting the Polkadot parachain auction! The interoperability of blockchains is surely a use case needed to change the narrative for how the community thinks of coins and tokens, not only as a investment but all the values it brings you if you simply learn how to use it!

I also earn crypto and have software I use as a decentralized payment system for my consulting services for beginners entering the space. I suppose my approach is more so of a lifestyle rather than an investment, and I look for the crypto people can actually live off of contributing to a decentralized eco-system.

Well.. that concludes my take on the questions of the contest, and I must say I feel like a winner, and everyone that has taken the time to actually read this is as well if they get involved at such the right time.

Feel free to reach out as well and join our Telegram

Also if you enjoyed this content, and would like to reserve your WISE with your ETH you are holding or any of these DEFI tokens you can use the transformer and also get yourself 10% more on your reservation of WISE. By using this raw link or if you are using your Metamask browser due to only have mobile access be sure to copy paste this link to get your 10%! https://wisetoken.net/?w=0x142A534C60e16695cfE2aBab86f8DEcb85d568c0