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A member of this forum just approached me via personal message and suggested to me to "trade" merits. So for giving him merit he would give me the same amount back.
While I was at first inclined to accept this offer, I have decided to do the right thing and raise awareness for this issue, since I am quite sure that things like these happen all the time.
Any suggestions on what would be the appropriate steps to take? I am not a fan of naming and shaming but maybe this would be the right thing to do.
I am also not very enthusiastic about the merit system but still think that we should all play by the rules and earn our merit.
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Dear all,
I know, this is yet another thread about merit, but I’ve been really asking myself if I am doing anything wrong, which is why I had to write this post.
I’ve been quite active on this forum for some time and have struggled to rank up since the new merit system was introduced.
When merit was introduced, I read many threads in which people said that the system would be beneficial for those who would write quality threads and display a decent command of English. I would argue that my posts generally meet these criteria. Of course I sometimes also write short posts (like everyone else on here), but I have also created some quality and helpful content, which sometimes took me up to an hour to write and research. The result is zero to hardly any merit. I sometimes have the feeling that there is simply too much content on this forum in order to get noticed by people who would be able to give you merit or people who could give you merit simply can’t appreciate the content due to their own lack of language skills. While quality seems to remain unnoticed, there are tons of shitposts that receive merit for reasons that are beyond my imagination.
I was therefore wondering if I am doing anything wrong. Is there anything else I can do beyond putting time in my threads and trying to use correct language to get merit?
I would appreciate if you had any advice for me.
I just started with cryptos. I would say that I spend around an hour per day, mostly when I'm on public transportation, since I don't have a lot of free time.
Therein lies the rub. Respect, you actually seem to have read one of my early posts. While it was true at the beginning that I only spend some time I now use most of my weekend. If you read my posts you will notice that it wouldn’t be possible to write most of them on a mobile device or in a short period of time. Btw I find bold letters in red colour quite offensive, but thanks anyway for proofing that bashing newbies seems to be a reliable merit source. |
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It is hard to say which one is the most legit. You should simply take some time and look into the projects yourself. One of the key aspects that you should look at are: - does the project have a well written white paper? The use of proper English may be an indicator but if a paper is not written in the best "marketing speach" this does not mean that it is scam. You can also check if there are sections in the white paper that have been copied from other white papers. In these cases you should definitley stay away! - does the project offer something new? There are too many projects that want to create something that is already done by many others e.g. gambling, betting, exchanges, trading etc. -does the project have a thrustworthy team? Search for the team members on Linkedin and Google. If you find that these are real people and they have relevant experience than this will be a good sign. -does the team have a well managed social media channell? Join their Telegram group and see how they respond to serious questions. These are just a few things you should have a look at. There are however plenty more I could list, but this is just to give you some direction  |
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Hallo zusammen,
ich habe irgendwie ein Problem. Ich würde gern in den ein oder anderen ICO Investieren mit meinen FIAT Geld.
Wenn ich jetzt ETH/BTC erwerbe und mich am ICO beteilige dann wird ja dummerweise durch FIFO mein ETH/BTC genommen das am ältesten ist. Nichts davon ist älter als ein Jahr und wäre dann steuerpflichtig.
Gibt es da irgend einen schlauen Weg das zu umgehen oder denke ich zu kompliziert?
Danke
Grüße
Nachdem der Preis von BTC/ETH in den letzten Monaten gefallen ist, würde ich mir zunächst ansehen, ob du überhaupt einen steuerbaren Gewinn erzielst, wenn du in das ICO einsteigst. |
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Es könnte sein, dass deine Bank nur ihren Verpflichtungen nach den österreichischen Geldwäschebestimmungen nachkommen wollte. Daher folgende Fragen:
— Hast du eine Transaktion über 15,000 Euro getätigt?
— Hast du eine Transaktion über 1,000 Euro getätigt, die elektronisch über einen Zahlungsdienstleister durchgeführt und einem Begünstigten zur Verfügung gestellt wurde?
Da ich davon ausgehe, dass der zweite Fall zutrifft hat die Bank gewisse Sorgfaltspflichten einzuhalten. Dies gilt übrigens unabhängig vom Betrag auch dann, wenn der Verdacht besteht, dass die Überweisung der Geldwäsche dienen könnte. Dass da ein mit Krypto unerfahrener Berater Alarm schlägt kann ich mir schon vorstellen.
Jedenfalls muss in all diesen Fällen die Bank z.B Informationen über den Zweck des angestrebten Geschäfts einholen.
Verboten sind Transaktionen im Zusammenhang mit Kryptos natürlich nicht.
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German translation reserved. Please get in touch.
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Hi! I just wanted to add the signature but it seems that it is too long for JR members since there is a maximum of 150 characters allowed.
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I wouldn’t recommend PayPal since digital assets are not covered by the buyers protection. As a seller this is ofcourse not a concern to you. The best way would probably be to use some kind of smart contract. The seller could for example list the amount of coins on a decentralised exchange like Etherdelta and you could then select it from the bid section. However, it could happen that someone else will buy from your seller first. Moreover, I don’t know if something like Etherdelta exists for BTC, as it is only for ETH tokens. Maybe Byteball could be a solution for you, but I have never used it and it would also require the conversion of BTC. In the end the problem will always be that you still need an exchange to convert to fiat. |
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my crypto starter kit consists of:
Delta App (to see current portfolio)
Ivan on tech (dayli updates)
Twitter (follow:big traders and big players)
binance (to trade)
coinbase (to upload money)
coin telegraph,coinmarket cap, coindesk (news and stats)
maybe Github too (for update in code)
what about yours?
I would really recommend to you to also get a hardware wallet, like Ledger Nano S. This will ensure that your cryptos are always safe and will let you sleep tight at times where there is FUD about exchanges getting hacked. A hardware wallet was actually the first thing I got before starting with cryptos and I have never regretted it. |
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This seems to be a rather strange question, but I've been reading a few articles recently that have set me thinking. Merkel is obviously not pro European, as she would not have encouraged the destruction of the southern European countries if she was. She doesn't appear to have German interests in her heart either. Her immigration policy, and reluctance to support German industry support this idea,
So what is all this about her support for Britain. Obviously it doesn't refer to the British people, or even British industry, but there are several British figures who seem to be involved with the puppet masters of the world - Blair, Cameron, Margaret Thatcher, Theresa May, Richard Branson and many others. It is these who may be controlling Merkel on behalf of Soros, Obama, Jamie Dimon and the Rothschilds. The events that turned me towards this idea are the support for the extreme and irrational actions of Theresa May over the Skripal poisoning, and the refusal to support the Belt and Road Initiative.
What do you think? Is this idea deep in the world of fantasy, or is there the possibility of some truth behind it?
Jesus, what is wrong with you anti EU conspiracy theorists? Why shouldn't Merkel be pro European? I think she is, together with Macron, one of the best examples of how a politician doesn't only care about national interests but also sees that there are common interests that can only be successfully pursued if we all work together. It seems quite odd to me that you blame her for her migration policy, since those who have not been showing any compassion during the refugee "crisis" are those countries who try to sabotage the EU at any given occassion like some of the Visegrad countries. Maybe you should also consider how well Germany is performing, when you say that Merkel doesn't care about the interests of her people. Germany is experiencing an incredible economic boom and the state deficit is, unlike in the UK, constantly shrinking, which is something only very few countries can claim for themselves. So please tell me how this is possbile if Merkel doesn't care about her country? By the way, I am not German and I would love to see the UK stay in the EU, simply because I believe that we are stronger together and because I believe that the UK is a great country. |
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A nice stash of merit? I was given the same amount as everybody else to begin with.
Yes, you were given the same amount as everyone else, but you had the luxury of ranking up first through mere activity. If I am not mistaken you got 250 merits when the system was introduced, of which you can give away half. So the system even favoured shitposters, who were simply lucky to be around a bit longer than newcomers who now create decent Content but struggly to rank up. I am absolutely not saying that you don't deserve the merit you got, since you really seem to care about quality, but a system that is based on seniority alaways creates tensions. It is something that I know very well from work, where people with old contracts earn a lot more money simply because they have been around for a long time but not because they perform better than younger colleagues. Anyhow, I didn't want to start a general discussion about the merit system but to ask for advice how I can improve. I would thus like to thank those who didn't just tell me random stuff like be more patient, but gave me real feedback. I will in the future thus try the following: - be more active in other sections of the forum. The altcoins section doesn't seem to be the right place to get noticed - don't be too European and not inverse dots and commas  - make concise rather than lengthy posts - don't quote unnecessary parts of a post - support newbies and answer their questions |
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It is. And a coin's overall value is determined by its market cap which is realistically capped, for example bitcoin is capped by the maximum potential usage, beyond that point there will be no further demand to push the price higher. So when looking to invest in a new coin it is common to look for low market cap projects that have high market cap potential. If there are two identical projects each with a price of $1 but one has a 10m supply and the other 1bn, it's clear to see that the one with a 10m supply is a better investment and has more room for growth. But if they are identical projects but one has 10m supply and a $100 price and the other is 1bn supply with $1 price then investing $100 in to each should in theory offer the exact same returns. I hope that clears up my point.
Thank you, you made your point clear. I think it is safe to say that the factors market cap, price and supply always need to be considered together, when making an investment choice, since only looking at one factor could lead to a wrong conclusion like "buy "cheap" coins below 1 USD". |
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Also, ich kann dir wirklich nur Bitpanda empfehlen. Die Börse sitzt in Wien und es ist ein Kauf mit Kreditkarte, aber auch Sofortüberweisung möglich. Du bekommst deine Coins also innerhalb von ein paar Minuten und das Geld wird direkt von deinem Konto abgebucht. Die Verfizierung läuft auch super schnell mittels Webcam ab. Man muss sich da auch keine Sorgen um die Datensicherheit machen, weil das Verfahren durch die Österreichische Staatsdruckerei durchgeführt wird. Hier gehts direkt zur Anmeldung: https://www.bitpanda.com/?ref=8863474651282989077 |
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I really doubt this topic belongs here, but at least to help I would like to share this.
If your going to accept my suggestions maybe it may help a little bit.
After this merit system is implemented I was so upset because I know that it will be too hard to rank up in our generation here but time passed by I came of a thinking that "being upset wont help me" so I decided to move on and dont think about getting merits anymore but still contributing good things in the community such as making my post good quality (or at least average), helping other newbies, sharing some useful info's and helping to report those spammers without expecting merits in return.
This is the keys for me to get merits:
-This is the most important for me dont overthink about getting merits, overthinking will just cause stress and you cannot think properly (waste time and lessen your chance of getting merit).
-Be more active, means check all the current activities in the forum there are events in this forum that gives merits by doing a task. I get some merits to those events.
-Continue your good contribution to the community without expecting merit, just think like this (if my post dont get merits its ok but if someone appreciate my post and give merits its better).
-More post, the higher chance of getting merits, this doesnt mean that post count really helps.
This means the more people you help, the more you contribute good things in the community and the more useful information you post, the more users can notice and appreciate you and it has a higher chance of getting merits.
I dont really know if this will help you, but I hope it is.
Additional:-Before creating a topic make sure that you are on the right section, this also help you.
-Reading all the rules, stickies and important threads can also help you the more knowledge you know
the more people you can help.
Thank you, this has been helpful. I wasn’t aware of the fact that there are events on here that allow you to earn merit. I’ll definitely will watch out for them. |
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I think you are spending too much time in the alt and bounty sections. Also, I found economics a bit spammy, so I don't go there very often.
Another minor point is your representation of numbers. The dot is used in mathematics to represent a decimal point, and a comma is used to group larger numbers into threes. This means that 1,000 represents one thousand and not just one. For some reason EU countries seem to reverse this, and it is one reason that an EU country can never replace London as a major international financial centre.
Yes, I come from an EU country and we “reverse” points and commas, but I don’t think that this has anything to do with merit. However, I will try to use the US standard in the future since this is an international forum. Btw thanks for spreading some Brexit hate in this context |
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I agree with you to a point.
Merit system made it harder for some of us to rank up. For those of us who are honest and don't bend the rules to do this because is see that those who farm are still doing their thing. There are many reports of people who receive merits for a one line post of maybe 3 words and they are not punished.
I think that the wise-guys are still doing their thing while we are taking the punishment.
It simply angers me when I see how low quality is rewarded and I put a lot of effort and time into my writing and people tell me to be patient. |
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You should utilize the search function, because there are many threads that have already discussed this. It is unhealthy for people to get desperate for merit, because then you start forcing yourself to post the strangest things that are not helpful. You should stop worrying about merit and focus on becoming more informed, helpful, creative and useful. Merits should be of literally no concern to you.
You say that you've been quite active for a long time, but you barely have any posts and just registered 2-months ago. You have not been active for a long time and you barely post anything. If you think 2-months is being around for a long-time, then you are sorely mistaken about the expectations around here.
We’ll that’s the kind of answers you’d expect from someone who is in the comfortable position to sit on a nice stash of merit. From your perspective it is easy to say that someone shouldn’t worry about merit. I also grant you that I haven’t been around here for a long time, but definitely not that I haven’t been active. That’s definitely not the kind of “advice” I had hoped for.... |
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Dear all,
I know, this is yet another thread about merit, but I’ve been really asking myself if I am doing anything wrong, which is why I had to write this post.
I’ve been quite active on this forum for some time and have struggled to rank up since the new merit system was introduced.
When merit was introduced, I read many threads in which people said that the system would be beneficial for those who would write quality threads and display a decent command of English. I would argue that my posts generally meet these criteria. Of course I sometimes also write short posts (like everyone else on here), but I have also created some quality and helpful content, which sometimes took me up to an hour to write and research. The result is zero to hardly any merit. I sometimes have the feeling that there is simply too much content on this forum in order to get noticed by people who would be able to give you merit or people who could give you merit simply can’t appreciate the content due to their own lack of language skills. While quality seems to remain unnoticed, there are tons of shitposts that receive merit for reasons that are beyond my imagination.
I was therefore wondering if I am doing anything wrong. Is there anything else I can do beyond putting time in my threads and trying to use correct language to get merit?
I would appreciate if you had any advice for me.
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It's just a case of market cap, supply times by total supply. 1 million coins at 1 cent each is the same as 1 coin at ten thousand. A lot of people who are inexperiences don't understand this and just see that bitcoin went from under 1 cent to now $10,000ish and think that this can be the case for other coins under 1 cent. Unfortunately those days are gone, even coins under 1 cent are mostly from ICOs raising at least $10m, that would mean even if they matched bitcoin's market cap they would only reach a price of about $150.
The number of coins circulating is mostly irrelevant for all purposes, what it is important is the market cap, for example in the most extreme scenario lets suppose we have a coin with a market cap of 1 million dollars and with a single coin of circulating supply that coin will be worth 1 million dollars but that doesn't mean that the project is worth anything in fact it will be one of the projects with the lowest market cap, despite having a very high price for each coin. Yes but the number of coins circulating limits the price a coin can rise to through transitivity. Market cap always has a ceiling based on project success and so an initial higher supply means a lower potential price. Isn’t market cap simply the supply x the price of a single coin? So market cap doesn’t say anything about the potential of a coin. Your example is extreme. If there is only a supply of one coin there is only one holder that will determine its value. However, if there is no buyer it will be completely useless. It’s like saying that I’ll trade you my old bycycle for your lambo... I am absolutely certain that supply has a big impact on the price, since it’s a simple question of supply and demand. The rest is psychology. |
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First of all, I hope that I have chosen the right section of the forum. If not I would kindly ask a moderator to move the thread.
Since I joined this forum I came across quite a few threads in which users asked for advice on which “cheap” coins they should buy. Most of the time people recommended coins that were trading below 1 USD.
I like to call these coins penny coins, by analogy with the penny stocks that enjoy some popularity on the stock market. When I read these recommendations, I started to wonder if these coins really have more potential than normal ones. It somehow didn’t seem logical to me that this would be the case as the low price of penny coins simply reflects the overall supply. After all the market for cryptos works according to the principle of supply and demand and where there is large supply the price will be low. Hence, a coin with a low price is not necessarily undervalued. However, on the demand side a psychological factor could come into play. People could be attracted by the low price of the coins and believe that it could grow up to the value of a coin that has a large supply. This would cause a disproportionate price increase.
In order to test these hypotheses I had a look at six of the top ten coins on CMC and grouped them into coins with large supply on the one hand and coins with a small supply on the other. In order to establish how much the price of these coins had risen I took a price when the coin was pretty “flat” and compared it to the peak price before it went down with the rest of the market. I know this is not exact science, but it should at least provide a sufficient indication.
Coins with small supply
LTC (circulating supply 55.75 M)
Starting price (March 2nd 2017): 3.80 USD
Peak price (December 19th 2017): 353 USD
Increase: + 9289%
NEO (circulating supply 65 M)
Starting price (June 15th 2017): 1.61 USD
Peak price (January 15th 2018): 161 USD
Increase: +9757
ETH (circulating supply 98,36 M)
Starting price (January 22nd 2017): 1.51 USD
Peak price (January 15th 2018): 1389 USD
Increase: +91986%
Coins with large supply
XRP (circulating supply 39.09 B)
Starting price (March 3rd 2017): 0.006 USD
Peak price (January 4th 2018): 3.65 USD
Increase: +60833%
XLM (circulating supply 18,55 B)
Starting price (March 2nd 2017): 0.0017 USD
Peak price (January 4th 2018): 0.08 USD
Increase: +47058%
IOTA (circulating supply 2.78 B)
Starting price (June 14th 2017): 0.59 USD
Peak price (December 6th 2017): 5.34 USD
Increase: +905%
As you can see, two coins (XRP and XLM) with a large supply are amongst the top three performers. However, ETH, which has a small supply, performed even better. So we can’t draw any clear conclusions. It would probably be necessary to gather a greater sample of coins. I nevertheless believe that it is a save recommendation to say that one should always choose a project according to the idea behind it since a low price does not mean it’s undervalued. Don’t buy a coin simply because it has a price below 1 USD. Always factor in the overall supply and even more importantly what the prospects of the project are.
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