Poopcoin Overnite: GOLEM

in #cryptocurrency6 years ago (edited)

Without getting too much into what we'd call a poopcoin, we're suspecting there's a good opportunity in Golem for overnite trade.

A little about Golem, "The New Way the Internet Will Work"
There's a LOT of computers hooked up to the internet, right? Most of them are IDLE more often than they are being utilized. Even work computers are "sleeping" overnite in office towers. What if you could tap those computers downtime, pay the owners of the machines for the electricity and CPU usage? You'd have a REALLY big connected supercomputer on your hands, which could be used for rendering Pixar movies or other MASSIVELY INTENSE computer applications. This isn't a brand new concept, but it's been popularlized by crypto, and the founders (CEO = Julian Zawistowski) of Golem coin are attempting to take advantage of this idea, by creating computer apps which will pay out computing "landlords" in Golem currency for time they lend to the network. Sounds great, right? Well what about a progress report?

Here's Golem's timline via their blog:

2016: Golem was crowdfunded
June 29, 2017: Golem asks for testers for their new graphical user interface (GUI)
July 11, 2017: An updated Alpha version is released for testers/downloaders, dubbed 0.7 version
August 24, 2017: Alpha release, version 0.8
October 27, 2017: "Brass" version released, labelled 0.9
November 7, 2017: First bump in the road, an error in code causes some funds to be frozen. Luckily they didn't lose their crowdfunders Ether investments!
December 20, 2017: another Alpha release of software, version 0.10 ("ten")

What does this all mean? Not much, Golem is still basically vaporware bc they have no real users of the system yet, and the system is mostly still in "alpha" test mode. Plus there's already been a fumbled football.

Do we think these guys are honestly trying to do what they say they're going to do, yeah probably. But this crypto stuff is the wild wild west, we aren't promising you the world, we're simply stating we think Golem is a nice overnite play and that's it. We'll save further fundamental analysis for when they have an actual working, bug-free product and are paying minnows to host unknown giants on their home PCs!

Altcoin: We started off with an Altcoin overnite recommendation, but realized in the "great xmas crypto-massacre" that altcoins really don't perform like poopcoins when the "poop hits the fan". (see our Stratis / Burst post--> Burst was up big on one of the worst crypto days of the year, while Stratis succombed to the melee) But since we have something mildly interesting catalyst-wise, we'll also go on record stating Zcash might make for an interesting play right now bc they are planning a hard fork in the near future, which seems to be a theme which pays off regardless of whether it makes fundamental logic. the short story, is the founder of Zcash is back, realized he didn't quite do things perfectly the first time, and is gonna do a "redo". Rah Rah Shitz Boom Bah. Anyway, so long as the crypto-selloff doesn't continue, it might make for a medium-term play for a couple weeks (or hours?). You know the drill, crypto is nuts, a 100% move might be something we'd predict for a month or a year, and it might happen by tomorrow.

As always, we'll update the performance of the Golem pick in the comments, letting you know when we theoretically sold it-- via a timestamp of course.

Trade well, Steemians

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Still not sold on the concept of Golem being a better alternative than using traditional tools like BOINC that's been evolved over a decade, and is currently being revised for another major update.

A high price without a product, sounds fishy still. I guess only time will tell. In the meantime I'll stick with #gridcoin.

Thanks for reading, what I posted on Golem was really just informational and neutral in nature; the recommendation was for a single overnite trade ONLY. We'd be selling Golem right now for about a 2 cent profit after fees, or about 3% gain. Not our best pick, but making 3% 250 days per year would make you the best performing institutional investor on Wall St.

We'll post another OVERNITE trade, but this time it's Friday so it'll be a weekend hold until Monday.

Update, we're selling this theoretical buy, which was done at 82.5 cents yesterday, as per 19 hours ago, and our sell price is about 85.2.
Taking out 1% for fees and transfers etc....
this recommendation made about 2%.

2% all 250 work days of the year ain't so bad?

We admit it was weak vs our last Burst pick, but better luck next time.
Our OVERNITE pick will be posted again today, which will be an "over the weekend" pick in actuality. stay tuned....

Glad u could stop by an upvote this worthless comment to 18x the value of our article.

You didn't even vote on the OP

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