Bitcoin Forum

Gnosis "CROWD SOURCED WISDOM"

After Poloniex announced that they are going to add gnosis on their twitter (https://twitter.com/Poloniex/status/856570173112942593) it started drama all over. People actually got screwed up for paying 31.25 USD per token, and now adding on an exchanging sites which people gonna dump the price so hard. Also bitmex just announced  (https://twitter.com/maguraaa/status/856794245138612224), also what's been written on reddit

https://i.imgur.com/3kSuxKl.jpg

What's your opinion on this?

I am going to mega short Gnosis on Bitmex and make some money and then buy gnosis at 1 usd

It's funny how this correlates with the general idea about "wisdom of the crowd" ;D

What the devs did was locked the supply an gave artificial valuation to the coin with artificial supply .


The purpose of there ico has failed , what they wanted was that there tokens are bought slowly but that did not happen . so it is a LOL

This is a good read


http://www.coindesk.com/ethereum-ico-irrationality-300-million-gnosis-valuation-sparks-market-concerns/?utm_source=dlvr.it&utm_medium=twitter

Glad didn't invested....
I knew something was fishy 🐠

The way it was set up fit perfectly in their proposed style of thinking: Let the crowd figure it out. Too bad the crowd was in a black friday mood, apparently.

The only blame I'd have to give to the dev team would be, that they could have given a different entry point, e.g. a  minimum of 50%/70% of all tokens will be distributed.

Apart from that, the crowd decided.

The dev team can't be too happy themselves. Now they sit on 95% tokens which are pretty much worthless.

The new blood in crypto is made of fools who don't know what they are doing .

old coin or new coin dev

Hopefully this one is not the same fate as the old dead gnosis ;D

https://bitcointalk.org/index.php?topic=782154.0

https://coinmarketcap.com/currencies/gnosis/

Noobs panic bought, hilarious, GNO is not worth 300 million, its prototype Augur is worth 151 million right now. I hope they will panic dump to 1 usd.  :D

Why did the developers even leave open the option of this happening?

(a) they are stupid?
(b)they were trying to scam?

What options have I missed?

(c)they built a platform which is based on the belief in the wisdom of the crowd, meaning, in an ideal world, the buyers would determine the price by their actions, and they decided to apply this belief in the ICO as well.

Is the platform built on the wisdom of the crowd or on mans propensity to gamble?

I hear about gnosis in icocountdown or simillar side.

This will be super bad for the ICO investors. Starting at like $300 mil market cap ... and it's just not worth it $30 for a token, I don't know why people fell for this but yeh it is what it is. + devs own like 95%, it's just super bad...

As long as there was a Gnosis altcoin that went dead years ago and I can find nothing about it (except news about Polo adding the coin to their exchange), something is fishy for sure and this is just further proof that it is a bad idea to invest in it.

It's a dead coin and nobody will ever revive it. Yes, it will be temporarily revived for a while until the dump comes in and imvestors will not even be able to get 20% of their invested sums. The price goes up and will keep going because of the people panic buying at the moment. When all this "hype" stops, it will be a failure. I will not put a single penny in this coin.

This is new Gnosis, that one is completely different from this one.

Both. The underlying idea is, that since you want to win, you choose the outcome you believe is most likely to appear, instead of what you hope will happen.

Failures like rational bubbles (stock market bubbles) are also part of the theory. I think we've seen a nice example for that part :).

i dont understand the crypto crowd, seems all you have to do is scream ico buy my shit and ure have the opportunity to be rich, and people throw money at ur ass without thinking...

I repeat it another one time here. An ICO, so weird, not even publicly presented here, so short should raise all the red flags... Dumber the trap is greater is the number of people rushing in it it seems...

Hi all,

I agree it was kind of a weird ICO, maybe we should wait for some more explanation, maybe the Gnosis team will provide some explanation in this thread.

This was the first Dutch ICO on Kraken, the posts about the Dutch method of ICO was not well explained on the Kraken blog. Kraken likes to be short in their descriptions / explanation, but this was an all time short explanation.

To me all it means is that there is a crazy amount of hype surrounding prediction market ICOs and ICO in general now. I mean "The legends Room" trying to raise 15 m for a strip club in exchange of Token ...

I hope the Gnosis team once they wake up from the big post ICO party. Will use some of the 300M for marketing purposes so the price don't reach the 1.5 USD per token mentioned earlier.

 

Thank you crazy moon for opening this thread !

and Yes these were my first and second posts :)

The Crypto Consultant

We will see overall how it will perform, once Poloniex & Bitmex adds it. I think if it was only on Poloniex it would've skyrocket the first 1-2 days and after that dump fiesta but when you add on 2 exchanges at the same time it will be a bit sketchy. IMO this is why u should never trust any ICO, no matter how legit the devs are, they can do whatever they want after getting all these investments.

The white paper was published 3 weeks before the ICO : a very fresh idea ...

That means if gnosis is a real competitor for bitcoin, Is it true? over 95% shares have owned by the dev, they have a future exchange such as bitmex, and polo will be the first one for gnosis.
With early started and will be tradable on major exchange site.

Early traders must pay a lot for this.

They sold all coins in only 4 minutes. At the same time people complain about the site doesn't even open. When people refresh surprisingly they said all coins are sold. They value the project 300 million USD but they raised only 12.5 million USD. They sold 1 Gnosis for 30 dollars and now it worths 1 dollar. I think this coin is too dangerous to play, even for daytrading.

95%  the gnosis team..I think that's all it says

https://bittrex.com/Market/Index?MarketName=BTC-GNO   0.03500000

To by honest after 1 min looking I already see this was sketchy. The high starting price and the extreme fast sold out. I hope people think better in the future. TaaS is a lot more realistic with 1$ per token. Lets see where this one goes in a few months. If its true that the devs hold so many coins then this project is not trustable. But I have not checked deep sources so not gonna confirm that here.

GNO can hit 100 dollars soon token supply is 500k coins market cap is just 20m,can go 5x from here

GNO is now 72 Dollar worth, it can easy hit 300-400 Dollar imo.

Sure insider scams that are easy to manipulate can pull crazy numbers.

Worth 50cents max.

As a certain general in WW2 said, "NUTS"

Why the price of GNO is far higher, I hear many people are showing not interested about GNO and making noise as it is one biggest scam in the year 2017. Does this really give profit to the investor who invested in GNO ICO?

Investors already trippled their money, they bought at $30 now it's $90 + raising. It looks like a ZEC, but we will see how far will GNO follow the ZEC path.

Yes, investors have done well, but ZEC started high and has gone down since. ZEC won't recover since it required a trusted setup, and nobody who wants a private coin is going to trust a trusted setup. OTOH, GNO looks to be leveling out due to the BTC rise and when things settle down will probably continue to increase in value.

Not much reaction from The Gnosis team, they made a comment on coin desk to say that they are happy.
Today when Gnosis was above 90 USD the total cap was 1 billion and the white paper was issued less than a month ago...

Most of the market prediction coins have crazy highs at the beginning, then go down, same will happen with Gnosis.

It would be great if some people involved in the project commented about why such capitalisation makes sense here.

It is not mineable, everything was distributted during the ICO where due to the terms of sale the majority was kept by the founders instead of the funders.

https://www.youtube.com/watch?v=vdaW8NtJXuQ

Andreas Antonopolous makes some fantastic analogies related to the amount of money pouring into ICOs currently in dat video

I do not understand why to create all these coin coins that can not be undermined, I do not trust all these ico that they create, people always ready to cheat for money.
If you create a coin it must be removable at 100% stop

What's the reason for the price to go up ?

Its going really crazy today. Kraken ahowed me +60  percents grow  ;D

aka: plausible deniability
"It wasn't our fault! It was everyone else, acting exactly as we secretly knew they would, while publicly showing faith that they wouldn't! muahahahahahaha!!!!"

*goes off to swim in big pile of cash*