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Author Topic: [GAM] Gambit | Private Trading Group | Custom Trading Indicators | Supply Burn  (Read 176206 times)
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4theLOVEofCrypto
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May 19, 2015, 04:14:39 PM
 #81

thats what makes it interesing.
when the dev makes profits while the traders make profit, it cuts supply and makes everyone more profit.

it can fail, but that means people that depend on day trading are going to be homeless too, so its got only beneficial moves for everyone.

They also mention possible future acquisitions to further diversify, so it may not be completely reliant on day trading.  I'm sure this aspect will take a while to implement (require significant funds), but that would be another way to reward holders.

Hopefullly the rate of burn is higher then the POS rate.
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May 19, 2015, 05:25:16 PM
 #82

Wow! What a race now to the dead line.
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May 19, 2015, 06:41:19 PM
 #83

Is there a countdown clock?
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May 19, 2015, 06:43:53 PM
 #84

Hopefullly the rate of burn is higher then the POS rate.
The specs are 60 sec block time; max PoS reward 2.5 Gam, which would mean a max 1.3 mio Gam per year,
which would dilute the max ICO offering by 50%,
but another piece of the spec says max 5% staking interest, so apparently the average PoS reward is 10% of the max reward?
Anyway - when day trading in BTC, you can double your investment overnight. Granted you can (and I have) failed several times
and lost all I invested, but I made up for it in the last months where I not doubled but multiplied my initial investment by 4x
and I am not a professional day trader, just an average Joe with a full time job and with an account on one of the exchanges.
So yeah, I would be very surprised if the burn rate would not be orders of magnitude larger than the staking rewards.
I rather see a different problem - what if the supply of Gam at the exchange was all exhausted and still BTC are flowing in?
How can you convince hoarders to sell? Offer 1 BTC per Gam?

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May 19, 2015, 06:45:56 PM
 #85

Is there a countdown clock?
Not that I know of, but the deadline is pretty easy: midnight PST tonight (USA west coast)
so at this moment 12 hours and 15 mins to go.
We are at 107 BTC, more than twice the ICO threshold!

SYNC: Sd3XBRmhrrr39Wj4rtjb3YAkwWvCze44BZ                    ORB: odyWi677JDQy7Gc6Nv6kCdnajmScqgTkDE       Honest pools (payout matching calculation):
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May 19, 2015, 06:47:58 PM
 #86

Is there a countdown clock?
Not that I know of, but the deadline is pretty easy: midnight PST tonight (USA west coast)
so at this moment 12 hours and 15 mins to go.
We are at 107 BTC, more than twice the ICO threshold!
BTW, it looks like this forum's time stamps are in GMT, so the deadline is at 7AM GMT.

SYNC: Sd3XBRmhrrr39Wj4rtjb3YAkwWvCze44BZ                    ORB: odyWi677JDQy7Gc6Nv6kCdnajmScqgTkDE       Honest pools (payout matching calculation):
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May 19, 2015, 07:03:20 PM
 #87

Thanks. Just didn't want to miss anything if I was sleeping in GMT land. Looks like I won't.
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May 19, 2015, 08:06:43 PM
 #88

Wow, volume is very impressive. Going to buy some more today. Smiley
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May 19, 2015, 09:56:23 PM
 #89

Countdown clock:
http://www.timeanddate.com/countdown/generic?iso=20150519T235959&p0=137&msg=Gambit+ICO+Ends

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May 19, 2015, 11:05:45 PM
 #90

Holy crap, its gone double what they asked for?? Someone knows something ...
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May 19, 2015, 11:15:13 PM
 #91

Holy crap, its gone double what they asked for?? Someone knows something ...
You mean volume? It is now more than 3x the minimum for successful ICO at a total of 155 BTC and still almost 8 hours to go.

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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May 19, 2015, 11:29:23 PM
 #92

Hey Collin, how many traders are there to start trading after the ICO closes and escrow is released?
Any indication of ETA for the trading of Gambit to open?

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TransferWise: International money transfer for 1%fee        Doge to the moon! D9FGY7Bhwbj2jrnk7v8VR47HTu7vfVu1gV         Nut2pools and Steadymining
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May 20, 2015, 12:32:54 AM
 #93

Looks like it may all sell out! Idk if I like that or not, seems like an awfully big market cap from the get go. Well, I'm taking the gamble anyways.


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raithe
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May 20, 2015, 01:09:06 AM
 #94

Hey Collin, how many traders are there to start trading after the ICO closes and escrow is released?
Any indication of ETA for the trading of Gambit to open?

While there are a few more confirmations pending, we are looking at around 10 so far.  To keep competition stiff, the hard-limit will be around 25 traders at one time.  If there are many more than 25 full time traders who would like to get involved, we are leaving the option open to having a "paper trade" competition where BTC does not follow their trades but they can still call positions.  If these traders make numerous successful calls they would push someone else out of the leader-boards and replace their spot, in a sense.

Slow and steady wins the race, all the details will come out progressively after wallets are distributed and staking.  Since the spreadsheets will start empty and everyone at 0:0 for profitable trades, the first few trades will be smaller to allow for everyone to get a feel for the system, and allow some trading history is built.

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May 20, 2015, 01:12:17 AM
 #95

Hey Collin, how many traders are there to start trading after the ICO closes and escrow is released?
Any indication of ETA for the trading of Gambit to open?

While there are a few more confirmations pending, we are looking at around 10 so far.  To keep competition stiff, the hard-limit will be around 25 traders at one time.  If there are many more than 25 full time traders who would like to get involved, we are leaving the option open to having a "paper trade" competition where BTC does not follow their trades but they can still call positions.  If these traders make numerous successful calls they would push someone else out of the leader-boards and replace their spot, in a sense.

Slow and steady wins the race, all the details will come out progressively after wallets are distributed and staking.  Since the spreadsheets will start empty and everyone at 0:0 for profitable trades, the first few trades will be smaller to allow for everyone to get a feel for the system, and allow some trading history is built.
Great to hear that.
Do you have a time/date for the wallets? I'd like to start staking from the beginning ;-)

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May 20, 2015, 01:15:47 AM
 #96

Hey Collin, how many traders are there to start trading after the ICO closes and escrow is released?
Any indication of ETA for the trading of Gambit to open?

While there are a few more confirmations pending, we are looking at around 10 so far.  To keep competition stiff, the hard-limit will be around 25 traders at one time.  If there are many more than 25 full time traders who would like to get involved, we are leaving the option open to having a "paper trade" competition where BTC does not follow their trades but they can still call positions.  If these traders make numerous successful calls they would push someone else out of the leader-boards and replace their spot, in a sense.

Slow and steady wins the race, all the details will come out progressively after wallets are distributed and staking.  Since the spreadsheets will start empty and everyone at 0:0 for profitable trades, the first few trades will be smaller to allow for everyone to get a feel for the system, and allow some trading history is built.

Exciting stuff! looking forward to seeing things unfold...
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May 20, 2015, 01:23:25 AM
 #97

Simple SHORT all altcoin !

Twitter : @Bl0ckchain
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May 20, 2015, 02:03:25 AM
 #98

Hey Collin, how many traders are there to start trading after the ICO closes and escrow is released?
Any indication of ETA for the trading of Gambit to open?

While there are a few more confirmations pending, we are looking at around 10 so far.  To keep competition stiff, the hard-limit will be around 25 traders at one time.  If there are many more than 25 full time traders who would like to get involved, we are leaving the option open to having a "paper trade" competition where BTC does not follow their trades but they can still call positions.  If these traders make numerous successful calls they would push someone else out of the leader-boards and replace their spot, in a sense.

Slow and steady wins the race, all the details will come out progressively after wallets are distributed and staking.  Since the spreadsheets will start empty and everyone at 0:0 for profitable trades, the first few trades will be smaller to allow for everyone to get a feel for the system, and allow some trading history is built.
Great to hear that.
Do you have a time/date for the wallets? I'd like to start staking from the beginning ;-)

Bittrex allows up to 3 days before markets open, but with everything functioning properly we should be able to get going fairly quickly.

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May 20, 2015, 02:27:59 AM
 #99

Just bought a little... heck why not

These concepts of incentivising use and burning supply are were its at if they prove they can work

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May 20, 2015, 02:45:32 AM
 #100

Let's get the party started!

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