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Author Topic: [GAM] Gambit | Private Trading Group | Custom Trading Indicators | Supply Burn  (Read 143616 times)
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Pito001
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June 05, 2015, 07:23:55 AM
 #261

Great update, dev, thanks!  I would like to see the Twitter account used for updating calls and updating on burned coins. Would make it a fun account to follow. Cheers.

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sambiohazard
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June 05, 2015, 08:23:58 AM
 #262

Is there anything exciting going on?
Did you read the OP?
Everyone investing here expects a return on their investment from successful trades leading to buy pressure for burning coins,
increasing the value of the remaining coins. I think that is as simple as I can tell it - there is a lot more to it, you just need to
invest a little time to read the info that is presented here and you find your answer.
Unless of course, you did not come here to find answers but only to troll and spread negativity, then you won't find answers here.

Let me ask one more question. We have taken care of supply side by burning the coins but what are we doing for generating demand? Where can we use this coin other than staking. I would like to see discounts on services like Coinigy, coingecko & other trading & chart related services while paying with GAM. Personally if there is a discount for cloud mining, i will be all for it. I think that's what SecretOfCrypto might be asking. We have all seen coin with very little supply but no demand, that only kills liquidity but didn't help much with price/demand.

Someone didn't read OP.

http://static.fjcdn.com/pictures/Peekaboo_3ef209_640992.jpg

I read it, it only says about constant buy pressure. This will only kill liquidity, other than profit taking there is no incentive to sell/use GAM. If there is no seller then how can they keep buying? May be i am not understanding something. If people will be using it then only we will have constant supply of new token to buy from merchants selling it for BTC, with fund money. Also what is the end game? To buy all the tokens and burn them? After a certain point burning has to stop, as you need people to stake to keep n/w running. There has to be some use other than staking & profit taking. If i am missing something please help me understand. Thanks.

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June 05, 2015, 09:48:03 AM
 #263

Is there anything exciting going on?
Did you read the OP?
Everyone investing here expects a return on their investment from successful trades leading to buy pressure for burning coins,
increasing the value of the remaining coins. I think that is as simple as I can tell it - there is a lot more to it, you just need to
invest a little time to read the info that is presented here and you find your answer.
Unless of course, you did not come here to find answers but only to troll and spread negativity, then you won't find answers here.

Let me ask one more question. We have taken care of supply side by burning the coins but what are we doing for generating demand? Where can we use this coin other than staking. I would like to see discounts on services like Coinigy, coingecko & other trading & chart related services while paying with GAM. Personally if there is a discount for cloud mining, i will be all for it. I think that's what SecretOfCrypto might be asking. We have all seen coin with very little supply but no demand, that only kills liquidity but didn't help much with price/demand.

Someone didn't read OP.

http://static.fjcdn.com/pictures/Peekaboo_3ef209_640992.jpg

I read it, it only says about constant buy pressure. This will only kill liquidity, other than profit taking there is no incentive to sell/use GAM. If there is no seller then how can they keep buying? May be i am not understanding something. If people will be using it then only we will have constant supply of new token to buy from merchants selling it for BTC, with fund money. Also what is the end game? To buy all the tokens and burn them? After a certain point burning has to stop, as you need people to stake to keep n/w running. There has to be some use other than staking & profit taking. If i am missing something please help me understand. Thanks.

First of all: this is not a coin, this is an asset. The point is not to have merchants, or use it. It's a speculative investment. If the traders do good, more marketbuys, more coins get bought up, more coins burned => decreasing coinsupply => higher price.
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June 05, 2015, 10:00:31 AM
 #264

ok so it is short/mid term speculative instrument. Long term plan is either not there or still undecided. Eventually when everyone has sold to take profit, that will be it. Everyone making money. Am I right? I am okay with that, just wanted to clear some doubts. Thanks Smiley

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June 05, 2015, 03:40:54 PM
 #265

how long till some actual trades are going to be made to start burning properly on successful trades??

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June 07, 2015, 08:59:25 PM
 #266

Everyone making money. Am I right?
That's not how "investing" works. Never has, never will. The only one who could possibly make money here is the dev.

how long till some actual trades are going to be made to start burning properly on successful trades??
They start the second Tuesday of next week.

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June 07, 2015, 11:33:34 PM
 #267

Everyone making money. Am I right?
That's not how "investing" works. Never has, never will. The only one who could possibly make money here is the dev.

how long till some actual trades are going to be made to start burning properly on successful trades??
They start the second Tuesday of next week.
Well, thats funny.
I see that you always look at the bright side.
Let's give the dev some time to actually select the traders
and then some trades to be made before jumping to conclusions.
Only thing I am missing at this moment is a timeline as to what is happening when.

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Pito001
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June 08, 2015, 06:58:12 AM
 #268

That's not how "investing" works. Never has, never will. The only one who could possibly make money here is the dev.

Yes, all of us have invested because we like the logo and ONLY want the dev to make money. You are correct.  Cheesy
Oh wait...
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June 09, 2015, 05:59:23 AM
 #269

Quote from: nanoprobe link=topic=1051324javascript:void(0);.msg11568112#msg11568112 date=1433791065

Well, thats funny.
I see that you always look at the bright side.
Let's give the dev some time to actually select the traders
and then some trades to be made before jumping to conclusions.
Only thing I am missing at this moment is a timeline as to what is happening when.

The dev has been dragging his feet and giving excuses for over a month and still no trades. How many more red flags do you need?

Yes, all of us have invested because we like the logo and ONLY want the dev to make money. You are correct.  Cheesy
Oh wait...
Ponder the post above. If this was truly legit and the dev was just trying to raise capital it would have all been ready to go at launch and the trades would have started at launch or shortly thereafter.

Since the responses to this thread are so slow and volume is low I can't help but wonder if the above statement is correct or just trying to troll us to dump our GAM.
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June 09, 2015, 06:49:45 AM
 #270

Before FUDding and speculating everyone should go check out the google doc linked in OP to see trades done by competing traders & details of GAM already burned using income from other sources.

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June 09, 2015, 07:37:47 AM
 #271

Just been skipping over the questions that have been covered already, as well as any FUD/trolls. This isn't a two week pump and dump like the rest of these coins coming out, things are moving forward just fine but they do take time.  Please continue to check the spreadsheet which has been updated daily with trades, as well as tokens that have been burned.
https://docs.google.com/spreadsheets/d/1unCcQPa-_u34gZ0oKwWoIG6F_CbP0umK1x3tN2-qHAI/

We have just created a Slack channel for GAM to offer a more-direct communication platform for everyone. Please private message your email address or send it via a direct message on Twitter (@GambitCrypto) to receive an invite.  [All are welcome]

For the immediate future, we will be continuing to add interested traders to fill the remaining open spots in the ladder, since this will offer a stronger sample for the top 10 that will be competing for BTC. As always, if you have any nominations or think you can compete, let's get in touch.  Trading data is starting to come in, although quite a bit slower than originally planned with how dead the crypto markets have been. There is also the factor that a few people are only reporting their best calls, rather than all of them, which was to be expected. We're already actively going reaching out to more forex-exclusive traders to balance this out. We are also going to be bringing in more traders who already post all of their positions publicly on Tradingview, their websites, or twitter. We feel these individuals shuld have an easy time assimilating into this community.

Moving forward, we will be using the Twitter account for posting updates on the burn address, as well as when trades are completed.

The biggest concern so far has been that there were no exact dates set for when the real BTC trading begins. We have been going with the slow and steady approach of paper trades, because the more trader performance data we have, the better the chances that the majority of trades will be profitable in the future. With that being said, I understand the concerns with how slow the cryptocurrency markets/trades have been as of late. The original idea was to wait until 10 traders were selected, but instead what we can do is just assign low BTC amounts at first and expand that way. Everyone should expect that with real BTC instantly on the line, the list may be quite volatile for the first few trades, but this should offer a happy-medium for everyone involved. Between bringing on more traders who are out of the cryptocurrency industry, and slowly ramping up the real btc trades, we can plan on starting the real trading as early as next week.

As of this morning, there have been 3853.2769 tokens burned (in addition to the unsold crowdfund ones).  With 937.8 tokens generated via Proof of Stake, this means that there are effectively 2915.47503 fewer GAM than were available in the initial crowdfund. More information is on the spreadsheet listed above.

To reiterate, the long-term end-game goal of Gambit is to have as many outside revenue sources as possible that may bring in new BTC as Gambit buy support. All tokens that are purchased are permanently burned, effectively combating PoS inflation and helping to potentially increase the rarity of Gambit.  I would recommend messaging us your email account so we can invite you to the Slack channel where discussions are easier and more direct.  Lastly, bookmark the spreadsheet.

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June 09, 2015, 12:53:46 PM
 #272

Just been skipping over the questions that have been covered already, as well as any FUD/trolls. This isn't a two week pump and dump like the rest of these coins coming out, things are moving forward just fine but they do take time.  Please continue to check the spreadsheet which has been updated daily with trades, as well as tokens that have been burned.
https://docs.google.com/spreadsheets/d/1unCcQPa-_u34gZ0oKwWoIG6F_CbP0umK1x3tN2-qHAI/

We have just created a Slack channel for GAM to offer a more-direct communication platform for everyone. Please private message your email address or send it via a direct message on Twitter (@GambitCrypto) to receive an invite.  [All are welcome]

For the immediate future, we will be continuing to add interested traders to fill the remaining open spots in the ladder, since this will offer a stronger sample for the top 10 that will be competing for BTC. As always, if you have any nominations or think you can compete, let's get in touch.  Trading data is starting to come in, although quite a bit slower than originally planned with how dead the crypto markets have been. There is also the factor that a few people are only reporting their best calls, rather than all of them, which was to be expected. We're already actively going reaching out to more forex-exclusive traders to balance this out. We are also going to be bringing in more traders who already post all of their positions publicly on Tradingview, their websites, or twitter. We feel these individuals shuld have an easy time assimilating into this community.

Moving forward, we will be using the Twitter account for posting updates on the burn address, as well as when trades are completed.

The biggest concern so far has been that there were no exact dates set for when the real BTC trading begins. We have been going with the slow and steady approach of paper trades, because the more trader performance data we have, the better the chances that the majority of trades will be profitable in the future. With that being said, I understand the concerns with how slow the cryptocurrency markets/trades have been as of late. The original idea was to wait until 10 traders were selected, but instead what we can do is just assign low BTC amounts at first and expand that way. Everyone should expect that with real BTC instantly on the line, the list may be quite volatile for the first few trades, but this should offer a happy-medium for everyone involved. Between bringing on more traders who are out of the cryptocurrency industry, and slowly ramping up the real btc trades, we can plan on starting the real trading as early as next week.

As of this morning, there have been 3853.2769 tokens burned (in addition to the unsold crowdfund ones).  With 937.8 tokens generated via Proof of Stake, this means that there are effectively 2915.47503 fewer GAM than were available in the initial crowdfund. More information is on the spreadsheet listed above.

To reiterate, the long-term end-game goal of Gambit is to have as many outside revenue sources as possible that may bring in new BTC as Gambit buy support. All tokens that are purchased are permanently burned, effectively combating PoS inflation and helping to potentially increase the rarity of Gambit.  I would recommend messaging us your email account so we can invite you to the Slack channel where discussions are easier and more direct.  Lastly, bookmark the spreadsheet.

awesome update, thanks dev.  keep GAM going strong, value should only increase with a bit more time.  this place is a toxic shithole of FUD so just clean up the thread when needed.

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June 09, 2015, 07:41:54 PM
 #273

I really like the idea of more non-crypto traders. Good update.
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June 09, 2015, 10:11:44 PM
 #274

I was going to reply (to the FUD) with "patience is a virtue"
but Collin had a more substantial reply.

My main concern with Collin's evaluation of trader calls is that it does not represent a weight of the trade.
For example, I am known for my bad calls, that is one of the reasons why I did not put my name in,
but still I managed to quadruple my BTC in a few months, because even though I made many bad calls,
most were of little consequence (usually by sitting them out until the market rebounded, so I lost not much money)
and only a few very good calls that more than doubled the money I put in.
So, if I would submit my past trades to Collin, I would likely get less than 50% and it would look like I am losing money,
while that is not what is reality.
The opposite can also be true: a trader that has 10 good calls, each delivering a few percent gains and one bad calls
that slashes his money in half has a 91% good call record but is losing money.
I suggest to take into account the *percentage of gain/loss* in the evaluation of traders.

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June 09, 2015, 10:55:43 PM
 #275

I was going to reply (to the FUD) with "patience is a virtue"
but Collin had a more substantial reply.

My main concern with Collin's evaluation of trader calls is that it does not represent a weight of the trade.
For example, I am known for my bad calls, that is one of the reasons why I did not put my name in,
but still I managed to quadruple my BTC in a few months, because even though I made many bad calls,
most were of little consequence (usually by sitting them out until the market rebounded, so I lost not much money)
and only a few very good calls that more than doubled the money I put in.
So, if I would submit my past trades to Collin, I would likely get less than 50% and it would look like I am losing money,
while that is not what is reality.
The opposite can also be true: a trader that has 10 good calls, each delivering a few percent gains and one bad calls
that slashes his money in half has a 91% good call record but is losing money.
I suggest to take into account the *percentage of gain/loss* in the evaluation of traders.

I understand what you are saying, that's a fair consideration. There are many variables at play. The liquidity of the markets being traded on needs to also be considered, as they differ from each other greatly. This is especially the case when we refer altcoin calls to btc/forex.  All in all, this is data that we are gathering and looking at. Trading merely comes down to risk management -- stops and trailing stops are used for a reason.  One could easily argue that anyone that loses half of their portfolio without stops in place is a gambler not a trader. Trade outcomes will be visible in BTC gains/losses.

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June 10, 2015, 06:23:56 PM
 #276

Hi Collin,
I think I have seen this with other staking wallets also, so just to confirm:
Does the wallet subtract a minimum 0.0001 miner fee on every transaction, including staking a block?
I have about 4,000 transactions in my wallet's transaction list, the vast majority from staking.
Also I see a discrepancy of 0.4 Gam between my wallet balance and the block explorer,
because the block explorer somehow does not notice miner fees, so it is always a little higher
than the balance in the wallet (which obviously does subtract the miner fees from the balance).
The agreement between the 0.0001 min miner fee, the approx 4000 transactions and the 0.4 balance difference is striking.

SYNC: Sd3XBRmhrrr39Wj4rtjb3YAkwWvCze44BZ                    ORB: odyWi677JDQy7Gc6Nv6kCdnajmScqgTkDE       Honest pools (payout matching calculation):
TransferWise: International money transfer for 1%fee        Doge to the moon! D9FGY7Bhwbj2jrnk7v8VR47HTu7vfVu1gV         Nut2pools and Steadymining
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June 10, 2015, 06:26:41 PM
 #277

I was going to reply (to the FUD) with "patience is a virtue"
but Collin had a more substantial reply.

My main concern with Collin's evaluation of trader calls is that it does not represent a weight of the trade.
For example, I am known for my bad calls, that is one of the reasons why I did not put my name in,
but still I managed to quadruple my BTC in a few months, because even though I made many bad calls,
most were of little consequence (usually by sitting them out until the market rebounded, so I lost not much money)
and only a few very good calls that more than doubled the money I put in.
So, if I would submit my past trades to Collin, I would likely get less than 50% and it would look like I am losing money,
while that is not what is reality.
The opposite can also be true: a trader that has 10 good calls, each delivering a few percent gains and one bad calls
that slashes his money in half has a 91% good call record but is losing money.
I suggest to take into account the *percentage of gain/loss* in the evaluation of traders.

I understand what you are saying, that's a fair consideration. There are many variables at play. The liquidity of the markets being traded on needs to also be considered, as they differ from each other greatly. This is especially the case when we refer altcoin calls to btc/forex.  All in all, this is data that we are gathering and looking at. Trading merely comes down to risk management -- stops and trailing stops are used for a reason.  One could easily argue that anyone that loses half of their portfolio without stops in place is a gambler not a trader. Trade outcomes will be visible in BTC gains/losses.

Understandable.  Dev, do you feel you could use more help with dev or marketing side of the coin?  Or do you have things lined up?  I'm just wondering since you have many good ideas/plans and just hope you're not over-burdening yourself and miss any development or delivery dates.  Not sure how big you/your team is re. GAM development but hopefully it's enough to make it big.

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June 11, 2015, 01:10:19 AM
 #278

Hi Collin,
I think I have seen this with other staking wallets also, so just to confirm:
Does the wallet subtract a minimum 0.0001 miner fee on every transaction, including staking a block?
I have about 4,000 transactions in my wallet's transaction list, the vast majority from staking.
Also I see a discrepancy of 0.4 Gam between my wallet balance and the block explorer,
because the block explorer somehow does not notice miner fees, so it is always a little higher
than the balance in the wallet (which obviously does subtract the miner fees from the balance).
The agreement between the 0.0001 min miner fee, the approx 4000 transactions and the 0.4 balance difference is striking.

I am not sure how the intricacies for the wallets proof of stake algorithm work, just that they do.  The code was based off of Jumbucks which has been running great for just under a year now, with that code being taken from ShadowCoin,  Blackcoin, and Novacoin.  Nearly every proof of stake coin has code that was derived from the later two. Those communities may have developer support forums to get into the fine print questions, but i'm not sure myself.

Understandable.  Dev, do you feel you could use more help with dev or marketing side of the coin?  Or do you have things lined up?  I'm just wondering since you have many good ideas/plans and just hope you're not over-burdening yourself and miss any development or delivery dates.  Not sure how big you/your team is re. GAM development but hopefully it's enough to make it big.

Certainly there will be a time for expanding marketing efforts, but right now our flagship priority has just been focusing on getting the live trading ready for early next week.  There have already been a few individuals reaching out to see how they can help, which is great to see.

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June 11, 2015, 09:02:12 AM
 #279

when you start burning the coins on the exchanges and setting buy walls how will you work out how high to start buying at?

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June 11, 2015, 09:16:20 AM
 #280

when you start burning the coins on the exchanges and setting buy walls how will you work out how high to start buying at?

We aren't going to share any information about how we are going about that. This is in order to protect the system from being easily gamed.  We will be reporting on the burned coins only after the fact.

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