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Bountyhunts and Airdrophunts are invested with people not playing by the rules, especially when there is a huge number of applicants its easy to duplicate accounts and get away with it.
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After being in a campaign that ‘surprise’ KYC’ed their members after the campaign was completed, I have to say, the KYC was worth it.
People do have a valid complaint about the 'surprise' KYC only being mentioned after the work was done, but from the looks of it, the manager has ID’ed hundreds of “spam syndicates”, duplicate accounts, people registering under other people’s BCT user name, etc … and at least half of the members didn’t bother to KYC. It means a lot more for the rest of us.
And I can tell you first hand, from what I’ve witness, the bounty manager is taking this very serious, doing his best to eliminate cheaters and give the people who actually cared about the project a larger share.
Now, I get the complaints, especially when the KYC isn’t mentioned in the announcement, but it worked like it was supposed to. So far, the most common objections to KYC itself I’ve seen are:
Crypto is supposed to be private: Yes, it could be, but every other investment I’ve been involved in has required much more info than what the KYC asked for…. Social Security numbers and the names of my heirs, for example. KYC asked for my name, address, phone number, and a picture ID. Really, not much more than you can find on a government website about me, or my business Facebook.
I can’t trust an ICO with my personal data: Really? You are promoting the ICO and asking people to invest their hard earned money in it, but you can’t trust them with your name and address? This is only a valid concern if you are a professional bounty hunter retweeting every campaign out there without regard for quality. If you engage in one bounty at a time, you have the luxury of researching the crap out of it before you get involved.
I hope in the future that more bounties include whether or not they KYC in their announcement. I know the merit system was just introduced, but I think KYC for signature campaigns will cut down the spamming and duplicate accounts much more. It will discourage the “spam syndicates” from getting involved right from the start, and probably make the campaign manager’s job easier.
I would absolutely get involved in another project that KYC’s if they check out, so I hope they will start making that part of their announcement. In fact, if I were a campaign manager, I would put “we reserve the right to KYC our members” in every announcement, just to discourage the multi-account spammers.
KYC isn't bad but the problem is is trust. Depending on what documents to submit etc, it can be very risky. You have to trust that the party receiving the verification doesn't have malicious intent such as selling it on the darkweb. Might get rid of cheaters, but who knows what the receiver will do with that information? Who knows how secure that information is, is it not going to get hacked? I know an ICO that had KYC and ended up scamming the investors + selling the emails right here on Bitcointalk whilst trying to convince the investors they were not exit-scamming, now thats fucked up. |
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I'm looking for new coins to get into. If you have one that you think is going to do really well, then try to sell me on it. Obviously i'm going to do my own research, but just looking for ideas. I'm currently heavily invested in XVG. I really think it's going to go somewhere huge. The price is just too cheap not to get into it. I've been picking up free coins the last couple of weeks just by playing the price fluctuations and have a few thousand put back that i'm holding. So, looking for new projects to get into now that i've gotten enough for free that i'm happy with the amount that i'm holding. Would be really great if there's a bunch of volatility on the coin so I can do the same with these new ones. Let's hear your ideas!
No new coins, but I'm heavily speculating on Tether and BTC. I've taken the fiat route, expecting Bitfinex not being able to verify/proof they have the same amount in USD in the bank. |
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Arcblock on paper is a great sounding coin, its one I've done a bit of research in to.
As of now, I won't invest no matter how good it sounds, if they can clear up a few things I may change my mind
Issues:
1. No transparency around the team or code.
2. It's closed source so it's hard to tell if they are being honest, part of me can live with this
3. Claiming partnerships with no proof at all
4. Using fake photo stock pictures for "known" members, this is a HUGE red flag.
5. No clear roadmap and whitepaper, saying "we develop agile there for no roadmap" is bs, I'm an agile developer who works to deadlines, Q1, Q2 etc style roadmap is easily done in any development method.
If points 1, 3 and 4 can be cleared up I'll invest, as of right now though too many red flags for it being a scam coin.
That is why I decided to stay away from this ico. Too much hype, but nothing below the hype surface. Yeah still on the fence aswell, I mean I can see a pump coming shortterm but I wonder if its worth it longterm. 1. Big hardcap, and nothing to show for yet. 2. Doesn't use a smart contract for their ICO - refunds can take 4-5 weeks they said and everyhing has to be done manual (also the whole ICO verification) 3. CEO keeps avoiding straightforward questions about the team, I bet there is no real team. I don't think he has bad intentions but chinese work ethics aren't the best and I can easily see him deceiving investors to round up funds. I won't say he will run of with the money but things are obviously not what they seem. So my only consideration really is: Do I invest and get out quick with a profit and the risk that if i'm to late my funds will be stuck in their wallet for over a month? Or do I ignore it and miss out on what is a very bullish ICO. I'm considering the latter, there will be more ICOs and at this point all that ArcBlock has is hype, plus its still very risky considering they don't use a smart contract, I can't just trust this guy because he's public and has been an entrepreneur for years. |
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Do not understand why all other coins are selling of on this news but it is creating another
and probably final buying chance before the next big rise starts.
Well consider this: Bitfinex never had the funds to back up each tether, thus it was printing money only to pump prices of BTC. BTC might be overvalued by more as 50% of its current value because of this (some say 80%). If regulators can proof bitfinex was printing money just to pump and profit then BTC could collapse 50-80% in value, since all altcoins are tied to BTC a lot of them will get REKT. BTC's true value might range anywhere from $2-5k depending on how severe the damage of Bitfinex is. The moment of reckoning is upon us, shitcoins will die. I'm going to bet on Ethereum. |
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I see your IQ doesn't come from grammar. |
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Not really sure what the deal is here, so they're a hedgefund backed mainly by institutional investors and they opened a telegram channel for the general public?
I can only really think of one reason how this benefits them:
They invest in something and then release the info to the public so people buy and the price goes up.
Can't really see any other reason than that why they would open a telegram channel with investment advice, especially if they're heavily invested into crypto which immediatly creates a conflict of interest.
Anyway might be worth checking out anyway though.
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I just noticed I can give merit points, is this new? What exactly is this for. Anyone mind explaining this to me?
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I think Forbes writes about almost any cryptocurrency |
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''As high as possible''
What does that even mean?
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Ja zou dit zelf ook wel tof vinden maar ik zou zelf toch wat aarzelig zijn aangezien iemand vrij makkelijk met zwart geld zou kunnen betalen?
wait what... je bent bang dat het GELD zwart is?  Hoezo bang om met zwart geld betaald te worden? Verwar je het met vals geld? Of omdat er geen belasting over betaald worden. Dan snap ik niet waarom je cryptogains wilt verkopen (is dat dan ook geen zwart geld/crypto?) ja bedoel vals geld idd |
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The list is not even comprehensive, it rates Doge a C and in comparison Ethereum is only a B to that.
agreed. most bogus list i've ever seen. there aren't even explanations for how everything was rated! They do provide the following explenation: The Cryptocurrency Risk Index measures (a) relative and absolute price fluctuations over multiple time frames, (b) declines from peak to trough in terms of frequency and magnitude, (c) market bias, whether up or down, and other factors. The Cryptocurrency Reward Index evaluates (a) returns compared to moving averages, (b) absolute returns compared to a benchmark, (c) smoothed returns, and other factors. The Cryptocurrency Technology Index evaluates the level of anonymity, governance capabilities, the ability to upgrade, energy efficiency, scaling solutions, interoperability with other blockchains, plus other technological strengths or weaknesses. The Cryptocurrency Fundamental Index measures transaction speed and scalability, market penetration, network security, decentralization of block production, network capacity, developer participation, public acceptance, plus other key factors. These are the indicators considered in their rating. |
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So before everyone goes completely beserkers on these ratings, know that they are trying to sell a service, which is investment advice on crypto's that can outperform Bitcoin. Their ratings are not soley based on tech they are mostly on risk and reward. I suggest you read these pages: https://orders.weissratings.com/wcy-crypto-ratings/EWCYU100/index.htm?pageNumber=2https://weisscryptocurrencyratings.com/ratings/the-weiss-cryptocurrency-ratings-explained-15https://weisscryptocurrencyratings.com/ratings/frequently-asked-questions-61In my opinion its complete nonsense and bullshit, they are just trying to sell their service and advertise themselves as independent in the sense that they didn't receive compensation, but they sure as hell are invested. Beginning 2017 anyone could have easily picked a coin that outperformed Bitcoin, they are advertising themselves that they can pick coins that outperform Bitcoin. Its the same with all these hedgefund managers popping up everywhere, we're in a massive bullmarket and lots of people feel like they are missing out, and suddenly all these jokers come along and promise gains when all you really have to do is just be patient. The list is not even comprehensive, it rates Doge a C and in comparison Ethereum is only a B to that. 1 huge mistake they already made is they recorded past performances into future projections of what is a good investment, Doge might have had some good years but I sure as hell would never put my money into it, even the Dev has said that its beserkers at 1 billion evaluation and that its a joke. If you're not familiar with American rating systems: A+, A , A- = 10 B+, B, B- = 9-8 C+, C, C-= 7-6 D+,D,D- = 5-4 F+, F F- = 3-1 |
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You hear the media talk about crypto millionaires a lot because its what gets people's attention but don't forget that there are plenty of people who lost their live savings in this space, wouldn't suprise me to hear some people litterly ruined their lives by making bad investment choices and that doesn't go for just Bitconnect, but also buying something at the wrong time and selling it at the wrong time. So always invest wisely and invest what you can afford to lose or what you're willing to lose. |
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Yes it is being heavily manipulated from all sides and yes countries attack it. But you can't just have smooth sailing all the times. The fact that these things happen are only an indication of how powerfull BTC is.
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It makes perfect sense to want to own something that is has increased in value 13-fold in the last year, but is part of Bitcoin’s value due to the social status it brings?
A study conducted by Bernstein Research has recently suggested just that. The analysts agree that limited supply plays a big role in the price surge, but the social standing that comes with owning Bitcoin may also be causing investors to join the hype:
“Bitcoins do not provide investors with cash-flows or other benefits, but the maximum supply of Bitcoins is fixed and so the price is driven by speculation on the potential demand for Bitcoin.”
A Veblen good
Just like high-end liquor, fancy cars and fashion brands, Bitcoin is acting like a Veblen good. The higher prices for certain goods can be attributed to the reinforcement of the social status attached to the product, something Bernstein calls “snob value.” The analysis added:
“In mid-2017, we conducted a consumer survey of 1,070 Chinese Premium Goods Consumers which showed that Veblen Demand is the third most important motivator of brand choice in brands.”
Demand Curve of a Veblen Good
Bitcoin is perceived as difficult to understand for those who aren’t “in the know.” Thus, owning Bitcoin immediately gives one that “snob value,” implying greater intelligence or insight.
Just like medicine...
In a strange, yet practical comparison, Bernstein compares Bitcoin to E.Jiao - traditional Chinese medicine derived from donkey skin. In 2016, China produced 5,000 tons of E.Jiao, which required 2.5 mln donkey skins. This has lead to a scarcity of donkey skins and cheap imitations coming to the market.
The original product’s leading manufacturer - Dong E-E.Jiao - has been able to raise the price of its product 18 times over the last decade because of the Veblen good-quality that has become attached to it with its scarcity.
Dot-com hype?
While not necessarily a good, in the early 90s, with the dot-com boom, there was a certain social standing that came with being involved in a technology company. People were caught up in the hype partially because they wanted to be part of the early elite that were making waves in technology.
It has already been seen that companies that simply add Blockchain to their name get huge waves of unjustified interest, and again, this could be likened to the social status that comes with being part of a company that is in the cryptocurrency space.
I can see it getting a status symbol, but we aren't there yet at all. Most typical for status symbols is that rich and famous people flaunt it, which isn't really the case at all. But no, BTC offers some unique properties that I think the large majority of the world has not even considered yet. The amount of people that own BTC is very, very small. It is only 8 years old, I think it can take a few decades. |
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You should do your own research, I haven't heard of either of them. But I assume because the word ''connect'' is in the name its got to do with lending, if that is the case I'd advice to stay away cause its likely some type of ponzi. I can be mistaken cause I didn't look at it.
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Hallo, ik heb het op verscheidene Bitcoin ATM topics gevraagd, hoe verkoop je nou op zo'n ding? Ik heb helaas nooit antwoord gekregen maar ik zie dat erin Limburg wel een automaat is waar je op kunt verkopen. Dus ik vroeg me af of iemand hier wat ervaring mee heeft en me de stappen uit wilt leggen zodat ik niet voor verassingen kom te staan.
Leek me leuk om een dagje weg te gaan en wat BTC uitcashen hiervoor bij een BTC automaat.
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Of ik zin heb om me geld te verklooien in ponzi schemes? Nee dankje. Snap ook niet waar je dit voor nodig hebt aangezien je letterlijk in een markt zit die +10 of -10% per dag beweegt op z'n minst. Maarja voor traden moet je nadenken hè?
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Was expecting some grandiose story full of boasting and bragging on how you outsmarted everyone else but it wasn't.. for some reason it was actually quite dissapointing.
Still nice article and yes you see it a lot. tiny dots under an h or under a c, you have to really look for it to not fall for it.
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