Synereo is Coming!
I wasn't writing that much about investing recently, since I had a pretty busy schedule in the last months, I am getting married soon, so I set myself up for longer term investments while I'm busy, even though this year was really fantastic and volatile, I have missed some of it. ETH up 700%, DASH up 500% or who knows how much, and you have ZCASH and Monero advancing (although I have called Monero and made profits there).
However I did miss out ETH and DASH, ETH partly because I have doubts about it's sustainability after the DAO, and DASH because I could not find a single reliable wallet for it, and I really don't like to store big investments on my phone wallet.
However I am holding a position in AMP for 3-4 months now, it was fluctuating up and down. I can sell now for 30-50% profit or could have sold for even more and could have bought ETH or DASH, but why do it? Just for 700% profit?
Well, don't underestimate me, I am looking for much higher profits with AMP. If this baby gets launched, I will be looking for 10,000% profits here. I am not joking, 10,000% profit here is totally possible.
The price now is 6000 satoshi, and moving up to 600,000 satoshi is really not a big deal. Considering that it's a totally new form of social media, it's not even a competitor to Steemit, and it will have a lot of exciting features.
Given how the Network Effect works, and their professional marketing team, I don't think having set that high investment goals is unreasonable. The price can easily skyrocket.
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What about steem? Your prediction?
Steem is doing pretty fine recently to my surprise. But I have too much of my capital locked down elsewhere.
We can already see the network effect in practice here on Steem. And Steem has already risen in price.
Synereo is still fresh and has a great potential. If I were you, I would invest in both. Perfect hedge against the censored mainstream media.
Thanks for good advice. I'm really bad at timing and usually loosing money with trades. The safest way for me : when I have extra money I just buy steem power and don't need to worry because it's locked. Will steemit and steem fail? Who knows. I'm not worried about things I can't change.
I had not heard of Synereo before, but it looks interesting! I am going to research some about it and make a small investment!
It's a new form of social media, totally decentralized, and based on groups. So you don't get flooded with news from all directions, the user can decide what groups he wants to get subscribed too. So already has a spam protection. Also the AMP token will be used to promote posts and make it visible inside the group. So you will probably have a group for everything (news,sport,politics, music,etc..) and inside that group people can interact with eachother based on that topic.
It's really interesting and it will be completely decentralized. Further details are still unknown but the development team is working very hard to integrate as many features as possible, so LAYER 2 technologies could possibly also be available. It is very interesting to see something like this.
This project seems very well thought out! I think it has more potential than I initially thought. Spam protection is always a good thing!
Is 't the desktop wallet of Dash good enough?
In what timeframe do you expect (bet on)?
I like lightweight wallets, I won't really download gigabytes on my computer for every single coin, and I don't trust exchanges with large amounts, so it's really hard to invest at this point.
Luckily AMP (Synereo) tokens live on the BTC blockchain, via the OMNI protocol, which is a sidechain of Bitcoin.
Ok understood. I tried to install DASH wallet earlier this and it started to take hours to donwload the whole blockchain. That time I didn't understand what was happening. The same with ShadowCoin. Now I know, thank you for the explanation! I also am like you, I want lightweight wallets! :)
Well the launch is in June I believe (give or take a few weeks), they are working very hard to launch on schedule.
I really expect the price to skyrocket then. The price used to be 30,000 and higher in the past, they had a little bit of setback, but I really expect 100,000-200,000 satoshi after the launch, since it came a long way since then.
And as I said in the post 600,000 satoshi isn't really an irrational target either, maybe by the end of the year. Crypto projects are very profitable, and that would be 10,000% profit if one were to buy now.
Sounds interesting, I already singed myself up for Alpha release earlier last month or so. Now will also take a closer look to their currency and see if I like to buy some. Thanks for your post and explanations of your views and posting your knowledge.
Any update on this?
I never took the time to really check up on them to be honest. For some reason do not find the time. But, I didn't forgot :)
Like you, I missed the ETH / DASH party. Wish to take advantage with AMP... yet I wonder how does it stack around EOS? Where would you put your money?
Shall check it out as I do from time to time.
I like your investment ideas.
you might have convinced me to put a few bucks in it.
It's your choice, I have missed out the ETH and DASH rally for this. I think AMP will be the hottest investment of the year, resulting in much higher profit % returns, than any top 10 cryptocurrency.
It won't hurt me to try to get some AMP. I don't think Steemit has much of a first mover advantage. If you add Akasha to the mix, it starts to look very promising with blockchain-based social media.
Dash has the best possible wallet support as it works now out of box with Trezor (trezor.io) - HW wallet. You will be satisfied and your DASH safe. Only more secure (but impractical) option is cold paper wallet created on not-compromised computer.
To the Synereo - yes, huge potential as mentioned but project history and progress was so bad that they will have to deliver something really special to re-gain their reputation back. Frankly, I'm quite surprised you are even considering investing in AMPs but who knows - I will give it a second look.
I really have to buy a Trezor though, in the future. I see that they really have a lot of altcoin support.
I have already invested in AMP, and I am already in profit. So I could sell now for 30-50% profit, but instead I hold on to it, because after they launch, I think only the sky is the limit.
Think about it, a total decentralized social media. There is only Steemit and nothing else right now, and Synereo is not even a competitor, they have a totally different structure that we haven't seen before, a totally decentralized system with 2nd or even 3rd layer applications possible.
If they deliver, and we have no reason to believe they will not, then this has the potential to even replace Facebook.
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Exodus is an excellent wallet with support for BTC, DASH, LTC, GNT, ETH, and DOGE.
I am a big fan of AMP and I'm in the beta right now. I think the project has ton of potential.
Upped and followed.