Bitcoin Forum

Hi, you guys might rememeber me from my threads on:

Decred:  
https://bitcointalk.org/index.php?topic=1741989.0

Sia:  
https://bitcointalk.org/index.php?topic=1836426.0

Lisk:  
https://bitcointalk.org/index.php?topic=1832027.0

Radium:  
https://bitcointalk.org/index.php?topic=2084797.0

Florincoin:
https://bitcointalk.org/index.php?topic=2113839.0

Syscoin:
https://bitcointalk.org/index.php?topic=2128959.0

Ardor:
https://bitcointalk.org/index.php?topic=2156522.0

Game:
https://bitcointalk.org/index.php?topic=2160179.0

I am here today to talk about Elastic.
https://www.tradingview.com/chart/XELBTC/87j7DdvE-Elastic-The-Decentralized-Supercomputer-The-Golem-Slayer/

So what is Elastic?

Elastic is an open-source project that aims to build the first decentralized supercomputer. Elastic has been developed over the last year or so and provides the infrastructure for a decentralized and distributed super computer, designed to carry out arbitrary tasks over the internet. In this context, Elastic is powered by a crypto currency ( XEL 0.56% ) and provides a market-based mechanism to buy and sell computational resources. Those who need computational resources, model their problem using Elastic’s programming language (Elastic PL) and broadcast it on the network, along with a certain amount of XEL 0.56% coins. The Elastic miners are then motivated to offer their computational resources in exchange for a portion of those XEL 0.56% coins. The size of their reward depends on the amount of work a miner has contributed in relation to the rest of the miners that have also participated in the task. Using XEL 0.56% as the driving force, Elastic offers potential buyers a large parallel computation cluster composed of many CPUs and GPUs supplied by the miners.

Fundamentally, this project is in a good place, as its main competition (golem) has a market cap over 5x as high as it does. Being an open source project with arguably better technology and 1/5 the value of its "competition", Elastic has some serious upside.

The demand for computational resources will only rise with time and Elastic has a brilliant and decentralized solution for addressing this demand.

Technically, we can see some serious accumulation in this range, as elastic continues to bounce from the orderblock indicated by the green box on this chart. We are extremely close to breaking out of this wedge formation, which should propel elastic to the 20-24k satoshi range.

https://i.imgur.com/NQrzYGk.png

hope you are right.
im a Big fan of Elastic

There is no right/wrong... just TA.

The TA for this one looks good, and it has good fundamentals to propel it.

It's started increasing. I'm loaded few hundreds XEL few days ago when the price is around 9k.

Plan to load more, but the price has increased.

Wow nice entry... doesn't get much better than that

You're right. Xel project have great potentialities.

Looks a good project and it has not mooned yet. Golem has gone nowhere for last three months so
 may sell half of it to put in Elastic instead.

Just bought some XEL. Great find as always.

Im a big fan of your threads and have made some money from them. May i however ask how you find these "hidden-gem" coins? I was thinking of going to cryptopia and reading about each of those coins one by one until i find something good but it seems to time consuming.

Go go coinmarketcap.com... look in the top 200.... research them all.  Boom!

I follow him and a few other guys on twitter that are similar. It appears they do their research and are aware of pretty much every alt coin with good fundamentals. Then it's just a matter of watching their price. DBT is great at finding the coins with best fundamentals and perfect TA timing.

Awesome read. I'm a big supporter of Elastic, hopefully this will bring some more interest to the project, a lot of recent fud has  has made some people reluctant on investing.

Thanks man... much appreciated.  A lot of this comes from doing this for a LONG time. 

I do a lot of research, but my friends do a lot of research as well. 

Number 1 piece of advice I can give it to make good friends while you're here.

Thank you for sharing.  I'm always looking for your posts now, although I always seem to jump on these things a little too late.  XEL is floating around 11700 sats now.  Would you still jump in at this point or have I missed the boat on this one?

No way... you haven't missed the boat.  

Have a look at this though:  https://bitcointalk.org/index.php?topic=2156522.msg21589362#msg21589362

"It kills me to see that people are investing precious bitcoin with so little patience.  

I often see this with new investors... fomo all-in on one coin because a bunch of noobs are talking about it (good sign it's top), then sell for a loss to fomo a lesser all-in on another.  

The key to success in this game is patience.  

Find good projects.  Then find a good place to buy them.  Then wait.

I like spreading my bets around... so I do serious research to determine how much of my portfolio I want a particular asset to represent.

For example:  Ardr is a really serious project with a really serious team.  It's on several big exchanges / therefore pretty liquid.  I might be ok having a bag that represents 15-20% of my portfolio on something like this.  Other coins that don't meet these criteria (they might be really ambitions but with unproven dev team... or maybe they just aren't that liquid) might be a good pick to represent 3-5% of your portfolio.

I understand that a lot of times, when you are new... you don't have much to play with.

If this is you (no shame, we all start somewhere), pick two projects... join the slacks so you know what's going on.  Follow twitter posts about the projects.  Read the forums.   This will help you judge sentiment.  
Make sure to buy at a good time to minimize a drawdown..... you can take a free trading course at www.babypips.com to help you realize what is a good buy and what isn't.  

When you have entered 1-2 projects, hold on for dear life.  Fight the temptation to sell for a loss (unless you really fucked up with your buy... but I'm sure you will make a few mistakes along the way.)
There is a lot of hype in crypto.  Do not fall into the cycle of chasing hype.  You want to buy projects BEFORE everyone else is talking about them, not AFTER.  If everyone and their mother is talking about something, it's likely too late.

Make sure to check out www.coinmarketcap.com.  My favorite projects are those with <200mm market cap.  This is because there is a lot of potential upside for low-medium cap projects.  

Good luck investing guys... it's a wild ride but can be incredibly rewarding.  Learn to realize your faults, sit on your hands, and learn from your mistakes.  Becoming a successful investor takes time.  There is a reason 90+% fail.  Be persistent."

Is this going to be one of the projects you are going to commit yourself to?  Do you want to go balls deep learning about Xel and do you want to hodl Xel for months even if you are underwater?

I think it's a great project and it could be "that" coin to many people, but you need to make your own decisions. :)

My friend i invested in Syscoin. Would you recommend selling it and buying XEL?

Awesome investment advice report, thank you .

I suggest if people want invest the xel. Please read the fully xel threads. You will find different from other projects. This project focused on development & Coding. (NOT marketing)

I was contemplating to pick up XEL yesterday. Now seeing your topic and a 20% price inrease I should've trusted my analysis. All right, still in.

I've owned XEL on and off for a couple of months now. Got in when it originally pumped from around 60 to 110. Then it was very hit or miss. Went as high as 255 if i recall correctly. The one thing to keep an eye out for is this coin can be very manipulated. Good idea to time your entry and don't lose patience. Coin will swing. Don't know if the recent support will put an end to that. As for the project, it is interesting. It's different than Golem because it requires coding to customize it, not plug and play. Applications are considered a little more academic in nature and has something of a science bent to it. Developers strike me as labor of love kind of people. If this coin pops now, I'd say it was overdue. Don't think it will 5x to Golem's stature and maybe it shouldn't but it's growth may be imminent. There was another thread, by ReeFrew maybe- made enemies and friends- where he would make his calls and go buy the coins. Picked OMG, Qtum very early on and at one point, dumped them all to go all in on XEL. Thought it was going to intergalactic by year's end. Ended up pulling out and his thread was controversial but the point is, there has been interest surrounding this coin for awhile and it never quite took off. Now that there's TA to support it coupled with growing awareness, it does look pretty good. Personally, I've come to hate this coin for the way it's been manipulated but I think we can forgive each other. :)

Count me in.

@dbt1033. I like this project and I reckon it is not overvalued like Golem. Golem has a very big market capitalization and no working product. That is not a good sign.

But is it true that one of the founders called Lannister disappeared and holds the keys to the ICO funds collected to support development? What are the latest updates on that issue?

ahahah! i remember ReeFrew's thread as i was witless enough to go and buy XEL in the middle of the pump just to find myself with 33% loss 10 days after and feeling so incompetent that i didn't even manage to get rid of the damn coin but kept looking at it sinking of value in my wallet and hating it more by the day  >:(

well, i'm loving the topics of DBT as they already rang the upturn bell for two coins that i held for long and stupidly didn't sell for profit at the right time (FLO & SYS, hopeully ARDR)... if the same trick is going to happen with XEL, i'll definitely turn into a believer. thanks much for now, great posts!

Hello,

have been eyeing XEL for a while while after Golem's disappointing conference.

Glad to find this topic. Betting big on this project. :)

Nice to read an honest, detailed and mostly objective report about an investment oppertunity. I bought XEL too early, OTC at around 0.000195 just days before a FUD campaign which caused a price drop of over 50%. One has to have balls of steals and embrace patience as an investment strategy. Easier said then done...

OP also bought XEL during the OTC sales, which is probably why he's shilling it now. Seems all he does these days is shill his bags: https://bitcointalk.org/index.php?topic=1804795.msg19619837#msg19619837

There was no "FUD campaign" against XEL. The notion that anyone would care that much about an unknown shitcoin is laughable. Several people realized XEL is a scam and tried to warn gullible schmucks like you, but instead of listening you assumed there was some grand conspiracy. Congrats, you got conned.

Despite what the shills try to tell you, XEL offers nothing over Golem. The fact that XEL's marketing relies on a complete misrepresentation of Golem is more evidence of their incompetence. Then there's the fact that XEL's creator (Lannister) literally scammed everyone and disappeared: http://archive.is/zoyYa

Senior members of Bitcointalk were calling XEL a scam more than a year ago: https://bitcointalk.org/index.php?topic=1426466.msg15845799#msg15845799

Why are you still hanging onto your delusions? Cut your losses and move on.

If you missed your optimal entry... this is as good as it gets.

https://i.imgur.com/2pzhFzM.png

Here to bump my thread again?  Keep it up!  We need more views!

Sure, here's another free bump!


Devs remain anonymous today. Some people never learn...

You must be new here.... community takeovers happen all the time.  Sometimes, they are very successful.

It doesn't matter if a coin's beginnings are questionable... take a look at Dash, it's as sketchy as it gets. 

They have demo'd a working product (something golem has not done because golem is vaporware), have a low cap, and the chart looks nice.

That's why I bought.

Golem never demo'd a working product? Is that the level of research you've done on XEL? So little that you don't even understand their main competitor?

XEL demo'd a crappy Bitcoin miner in 2016 and they've been parading that same video around since then.

Looks like they're making tons of progress on GitHub though: https://github.com/elastic-coin/elastic.github.io/graphs/contributors?from=2017-04-09&to=2017-09-12&type=c

Oh wait... it's practically dead.

OMG look at the price, your FUD is working!

LOL at the panic sellers today... Nice shakeout...Nicer rebound.

This looks extremely strong.

edit to add:  https://steemit.com/supercomputer/@roc/supercomputer-powered-by-blockchain-technology-golem-gnt-vs-elastic-xel

Awesome article.

@dbt1033. I want an honest answer. Is XEL a short-medium term trade, 1 week minimum to 3 month months maximum, or are you trying to recommend that this is the next top 10 cryptocoin that everyone should be holding?

I also heard the story about Lannister doing a disappearing act and that the developers who are left are still around for the fun of it. That does not look good for investors who want to hold for a long time. If the developers have a proven track record, it might change investors' minds.

From a newbie like me...Thank you for all the insights you provide...a steep learning curve :)

Hold until it's time to dump then move on (maybe that's 1 week?  maybe 1 month?  I'll sell a little at rest stops on the way up to derisk).

There are plenty of projects that share the same or similar stories to Xel... who cares.  Look at Via...  new dev w/o the ICO funds and it's ballin out of control.

The devs who are left are probably monster bagholders of Xel... and working to pump their own bags ;)

Lannister was a while ago and hose were different funds.

I know.  I'm saying that no one cares.

https://github.com/OrdinaryDude/ElasticPrototypeWallet   ::)

https://i.imgur.com/uB9baws.png

How do you know if it is at rest stop? When it slows down in growing and start falling?
When you say you sell a little. What does it mean? You change it for BTC or BTC then fiat or USDT?
Sorry for probably stupid questions, I'm quite noob.
Thanks

Identify resistance zones... offload 10-20% of position there (convert to btc)

@dbt1033. Thank you for the tip and for sharing your thoughts on XEL. If you said that it is a longterm hold and it would be the next great project to come out of the cryptospace, then I would not have believed you.

Who are the new developers of the project?

I was thinking it's a long term hodle. I have some elastic with me, but I I'll keep them for long term. I'll sell some when it pumps. Enjoying the altcoin investments.

I'm looking at XEL for a while now but I'm still afraid to invest (not talking about 1 week trading).

We do not know anything about dev.
They do not have any roadmap.
We do not know anything about the current development (when will they deliver something ? 2 weeks ? 1 month ? 1 year ? never ?).
Almost no information on Twitter / Reddit / Telegram.
No PR.

It's risky, if those points change, if we have a date or something like that, the price will probably rocket as I understood that their product is better than Golem IF there is a product.

one of biggest bags so far. and my first 100% as well in this latest leg up,

love the quote.
no right or wrong. just what the chart show us...

I heard Jaime Dimon is long XEL. Just like me!

Lol not yet he has to ensure price is low enough to get in and enjoy the gains.

And this

https://github.com/sprocket-fpga/xel_miner/commits/master

Congrats dude...  Feels good!

Xel, Rads, syscoin, ardr, Game.All total cheap right now and will even fall more to rise harder after.

But which Ship to jump? Which is the Most promising/potential gain?
I would assume sys and ardr will be pushed more easy than rads or game.

Whats your guys guess?

Dont go Allin split your money

It is correct.  "Never put all your eggs in one basket." I divided the money into four shares, spread their risk by investment at different altcoin.

Of course you should buy more coins and make risk lower.. I would buy more Ardor and XEL, and a bit less of other mentioned coins..

XEL has had a lot of bad news in the last weeks, but it seems that it has reached the bottom. Might be good idea to invest soon

Can you quote some of those bad news please?

The whole point of market manipulations is about the mystery and unpredictable dev. I think gone are those days where dev will be anonymous! Take a look at COBINHOOD ICO! The Devs are well know in their various field of expertise! ICO so far has raise significant capital! The reasons are not far fetch though. These guys are working on zero fee exchange. ICO underwritting, Due diligence services and lot more

Is XEL still a good buy right now?

In my opinion ... yes it is

This is my problem.. time.. I work all day and at night I have a big family so I have family duties. The only time I get to research alt coins is usually weekends.

 I get to research alt coins after dinner (About one hour or 45min a day). In my invest case i will fully to read for my interested altcoin threads.

The same as you.  I'm curious in where to find a lot of bad news. :o Because i daily to read the thread & forum , i did not see the bad news. You can show in this thread. I hope is not a fud.

thanks for sharing the info. for crypto invest, always do your on research work, whether it is scam or not, time will tells.

Bought some more.

There are certainly no bad news. Devs are working - just check github, last commits on 12th September.
You can go to slack and talk to devs. They will be happy to answer technical questions, but don't go there with FUD bullshit.

Aaand XEL is up 13% today.

Fully agree .Some people afraid the xel .  Beacuse the xel development fast than similar project.  I turst xel will boom in 2018. Let's wait to see what wil happen later.   :D

I load some xel  ;D

I regret not buying it when the XEL price in 9K satoshi. and I'm betting now to buy Xel for 13K satochi. hopefully not disappoint.
I'm waiting for good news of 2018. ;D

i got some xel too, ill bet it going to moon in 2018

You may have a chance to buy at that price again very soon.

Put you bids up an wait a little longer.

Still holding?

I like you dbt... But XEL has nothing to show yet. It still needs a lot of time and work and that is even if they really are willing to develop something.

Yes, still HODLing.

Got any reason not to do so?

Today, I added a small XEL holding to my rather small list of altcoins. Just look at it go, so much downwards pressure and yet it fights to stay above 10k satoshi no matter what (even during the last alt red weeks or September). Only 100 XELs, 50 I set to sell at 13k as I just want to realist 25% profits, and 50 I will hodl forever. Haha. Well, at least until the 200k that people predicted!

This one is set to forget until January at earliest!

I hope one day people will stop their "To the moon" thinking.
This will bring sober mentality and a proper valuation of the coin/project.

Not likely, especially here where you find a lot of people with a get-rich-quickly mentality.

I, for one, try to get into coins with good fundamentals (thanks dbt1033 for helping me navigate through the coin jungle) and plan to keep them for months.

Current price range is nice entry imho. I have bought some at 13k sat, than more at 11k sat and will buy more and more if it struggles.

Have any of these supercomputer projects ever proven a glimpse of value at all or is it too early to say?

Holding Golem, SONM and XEL all three supercomputer coins and have to say that all these
have yet to show their potential. SONM did have a big rally last couple of days. In marketcap,
SONM and XEL are close and much lower than Golem so may show better gains.

Yeah, I'm looking to pad my portfolio with Golem and Sonm just before the end of Q4 2017. All of them in their own way have shown their potential - but not a single one has realised even a little of it. I'm not too worried at all since these things take time. Supercomputers have always been talked up for their potential but seen limited industries embrace it.

My XEL picking from the three isn't going to bring me regret I'm sure, but I don't want to be caught holding the "wrong" of the three!

Any thoughts about Otoy Render Token (RNDR)? It has a more specific purpose, but maybe that's a good thing.

Price is dropped again without any bad news. I think it is because of general bearish trend in altcoins. I hope there will be a good jump soon for XEL like SONM did last week.

how  this  supercomputers  face the fact that  the government is developing its  Q-bit  super computer?

Been watching the topics dbt1033. Decided to register to say thank you for sharing your thoughts and give us the opportunity to capitalize on promising coins :)

A very nice supercomputer project. This price is a really good opportunity to buy and hold more XEL. I do not believe we will be able to find a price as cheap as now in the future  :)

time to grab some more

I like this answer, some people are looking for some kind of secret that people have to make them successful, but the truth is there is none, if you want to find hidden gems you need to go through all the garbage and risk wasting your time, but if you try hard enough you can find good investments.

...xel is crashing in an unbelievable way
i entered at 14 k and now it's at 4k ...... worst investment of my life

You are better than me :) I invested XEL reading here at 21k...

Wow, I have a friend in this forum! I also invested in XEL after first reading about it here. You can scroll back a few threads and find me being one of the idiots who believed a week of research and supplemented by the strong evidence of this thread PLUS the fact that the buy point was made super long term,,, I bought into it. I even managed to see it go up by 15% profit, but I said,,, this is a long term buy so I will not be greedy.

My mistake was not listening to myself and putting a 50% stop loss.

I have NEVER lost an alt so much. Expensive lesson learnt.

That is exactly the point.
I had 1/5 of ny portfolio in it. After the thread it pumped ~15% in 1 Week and i sold it.
So I am happy with it. Researching, seeing a Lot of competitors and Not so much News on their site made me take the profit.
The Basics are good. Imo the team just was not diligent enough After a good Start.

I cant believe....An unbelievable drop in XEL price. I wish i would have enough extra money to invest in XEL at the moment. It will double in less than a week. After fork....

Would you mind providing some of these Twitter accounts? :-)

Do you guys think this coin is dead? I did not have time yet to research it properly, but the low price is tempting.

Do your own research, man.

You can easily find the devs are still active, commit on github, etc. There are also ANN thread, where you can go and blame the devs or whatever you want.

For the others which blaming OP, will you share him your profit if the coin he suggested moon? Probably not right? So shut the fuck up.

Almost all alts get dip or big dip in this BTC bull run, you should see this as a chance to get cheap alts. When BTC stop rising and getting bored, your alts will start mooning. This happened many times before. Didn't you learn something from the past?

Just my 2 satoshi.

XEL you sneaky bastard. You fucking disappoint me.

Great entry point with that large retrace, I bought a large position and will be holding for 150-200% returns (10-12k sats) which should be achieved in the near future

I am worried, not mainly about the price (wich is almost -50% of when I bought, lol) but the rumours about no activity on GitHub and the feeling of abandonment of the project.

What's ur point of view about that?


PD: LOL, after this message I go to my portfolio and BUM! +60%

Well, you're spot on once again.

60% rise in price so far on Bittrex for elastic and seems like it's still going at the moment. Probably not the greatest time to buy right now, though. If you are bullish long term on the project then wait till the dip comes.

Looking forward to more of your picks OP ;D

Yep you're right, not the best time to pick it up. I missed this too, despite I knew it would go up  :(

LOL.. it has dipped. How much did you buy again?

Best regards
Edi

Nothing wrong with XEL. It's just that bitcoin has stolen most altcoins' thunder.
Just have to wait it out until the fork and hope alts rally afterwards.

So, anything about XEL now?

Yup, it's still a shitcoin.

Don't say I didn't try to warn you...

In a few days we will have i final product working

https://www.reddit.com/r/XEL/comments/70mhej/track_progress_project_elastic_xel/

the project is promising! For a long time I've been pawing my bottom, while I just watch and wait for the breakdown for a safe entrance. When do they get the finished product?

The price seems to be steady climbing, this project is promissing and should be in top 100

Supercheap now! Website is offline and under construction. Total redesign coming up. Devs are working hard, a lot of code has been written the last days, working product coming up....

This is gonna be an epic moon.. we might see a 6x-10x  :o

Currently, it is at rock bottom price, good time to buy cheaply. let see how it behave after updates.

Volume rising, testing resistance at 3400. We might see a breakout. Fly baby fly

I have been always interested in Elastic, but lately I have heard some bad things about team not delivering / lack of activity in GitHub.

Also, I don't know exactly, but something about a fake Elastic Twitter account and someone lying about something.

Do you know exactly what happened with Twitter account?

It's cheap as hell now, but I want to be confident before entering.

How does this compare to SONM in terms of growth potential?