Gnosis Tokens Double in Value After Exchange Debut

[bbc.reporter]

What are your analysis and speculations on Gnosis? Is it really that good for it to support the present valuation of the market is giving it? Do they already have a working beta of their prediction platform?

I speculate the Gnosis team are manipulating the supply to take the price as high as possible before they dump the coins they paid themselves.



Still, the release today follows a controversial sale in which the mechanisms used to incentivize buyers pushed the total valuation of the token supply to $300m even though only 4% of the tokens were sold.

Read everything http://www.coindesk.com/gnosis-tokens-now-trading-kraken-poloniex/

[1714098968]

1714098968

[mining1]

The team behind it is extremely capable, and it's one of the several reasons ethereum is getting used at big scale by people who matter and not just regular joes (regular joes only use it for speculation). So fundamentals are extremely strong with this one and i think it will be a success. But the distribution of the tokens is horrible and i will not buy any. They should have raised initial price per coin to something like 10.000USD per coin to avoid fomo and a poor distribution.

As i've read they feared that putting a huge price at first would make people believe they actually valuate the project at the said price. Imagine the fud and trolling if they actually started with a price of 10.000usd per GNO token.

[cryptohunter]

scam coin 100%

Imagine back in the POW days if some devs premined 90% plus and took 12M dollars. It is laughable.

This is so open to manipulation and market making it makes all the other coins that have been called scams on here look almost too fair.

I mean can you even think of a project that is so open to market making and manipulation?

All of these insta ico's need to be made pariahs.

$10,000 per token?  why so cheap??  you need to bring in serious players not this riff raff. I say start with something sensible like $100 trillion per token.

[bbc.reporter]

The team behind it is extremely capable, and it's one of the several reasons ethereum is getting used at big scale by people who matter and not just regular joes (regular joes only use it for speculation). So fundamentals are extremely strong with this one and i think it will be a success. But the distribution of the tokens is horrible and i will not buy any. They should have raised initial price per coin to something like 10.000USD per coin to avoid fomo and a poor distribution.

As i've read they feared that putting a huge price at first would make people believe they actually valuate the project at the said price. Imagine the fud and trolling if they actually started with a price of 10.000usd per GNO token.

I would consider the team capable if they really develop and build their decentralized prediction market. Not only build it, it will also have to work well and scales.

Do they already have a working beta?

[jjacob]

Still, the release today follows a controversial sale in which the mechanisms used to incentivize buyers pushed the total valuation of the token supply to $300m even though only 4% of the tokens were sold.

This leaves the field extremely open to manipulation. Investors buy coins thinking they have a fine valuation. And what happens if some developer decides to exit and encashes his holdings?

[TraderK]

Absolutely ridiculous.

It is a strong project with a capable team, but no one can justify valuating it at over $600M market cap when there is no finished product at all. This is more evidence of a bubble in ICO and altcoins. It reminds me of the ridiculous valuation people give Tesla even though their fundamentals are absolute garbage and price is based on ridiculous speculation.

Overall: Good project, but horrible coin distribution and valuation.

[jjacob]

Absolutely ridiculous.

It is a strong project with a capable team, but no one can justify valuating it at over $600M market cap when there is no finished product at all. This is more evidence of a bubble in ICO and altcoins. It reminds me of the ridiculous valuation people give Tesla even though their fundamentals are absolute garbage and price is based on ridiculous speculation.

Overall: Good project, but horrible coin distribution and valuation.

A bubble is when the market overvalues an asset and there is a frenzy. If there is market manipulation, you can't call it a bubble.
People who invest in such projects are taking a huge risk.

[TraderK]

Absolutely ridiculous.

It is a strong project with a capable team, but no one can justify valuating it at over $600M market cap when there is no finished product at all. This is more evidence of a bubble in ICO and altcoins. It reminds me of the ridiculous valuation people give Tesla even though their fundamentals are absolute garbage and price is based on ridiculous speculation.

Overall: Good project, but horrible coin distribution and valuation.

A bubble is when the market overvalues an asset and there is a frenzy. If there is market manipulation, you can't call it a bubble.
People who invest in such projects are taking a huge risk.

This is not market manipulation, it is clearly an overvaluation which by your own words is a bubble. When people bought at said price during the ICO, and higher prices now, they are personally valuating it as such prices. This is not manipulation, it is a bubble.

[Bowtiesarecool]

An overpriced bubble. Though, can't help but feel remorse for missing out on the ICO and dumping hard

[mining1]

The team behind it is extremely capable, and it's one of the several reasons ethereum is getting used at big scale by people who matter and not just regular joes (regular joes only use it for speculation). So fundamentals are extremely strong with this one and i think it will be a success. But the distribution of the tokens is horrible and i will not buy any. They should have raised initial price per coin to something like 10.000USD per coin to avoid fomo and a poor distribution.

As i've read they feared that putting a huge price at first would make people believe they actually valuate the project at the said price. Imagine the fud and trolling if they actually started with a price of 10.000usd per GNO token.

I would consider the team capable if they really develop and build their decentralized prediction market. Not only build it, it will also have to work well and scales.

Do they already have a working beta?

Don't know if they have a beta, not interested since i don't bet and i won't buy tokens either, because of the distribution. That said, i based my afirmation based on their other projects they were/are involved in. You can google them up.

[Raiderlam]

Gno will go 0.1?

[mining1]

I doubt it. It's insanely risky to buy GNT knowing devs have the majority of tokens. They should redo the ICO.

[Red_Sanford]

Wouldn't touch it. It is hard enough to believe that people bought into the ICO knowing that only 10% of the coins were being sold. I like to believe that they were duped. That can't be said for the price doubling after the ICO, That is just pure stupidity

[bbc.reporter]

The team behind it is extremely capable, and it's one of the several reasons ethereum is getting used at big scale by people who matter and not just regular joes (regular joes only use it for speculation). So fundamentals are extremely strong with this one and i think it will be a success. But the distribution of the tokens is horrible and i will not buy any. They should have raised initial price per coin to something like 10.000USD per coin to avoid fomo and a poor distribution.

As i've read they feared that putting a huge price at first would make people believe they actually valuate the project at the said price. Imagine the fud and trolling if they actually started with a price of 10.000usd per GNO token.

I would consider the team capable if they really develop and build their decentralized prediction market. Not only build it, it will also have to work well and scales.

Do they already have a working beta?

Don't know if they have a beta, not interested since i don't bet and i won't buy tokens either, because of the distribution. That said, i based my afirmation based on their other projects they were/are involved in. You can google them up.

Ripple has a very good development team and they also have very good funding. They also have a working platform but do you think XRP is a scam or not?

[jjacob]

I doubt it. It's insanely risky to buy GNT knowing devs have the majority of tokens. They should redo the ICO.

Why should the ICO be redone? It has satisfied the objectives of the developers?
There are enough people buying the tokens, for the price to double. They now just have to wait for the right time (and excuse) to exit.

[housebtc]

First, I believe those guys will be arrested it is just a matter of time, there are proofs they bought or work will whales to buy into their own ICO, the concept of ICO has been abuse and greed is now driving the market. People forget how we all get here, what Satoshi offers to us, discentralisation, 95% in the hands of developers there is no justification for that in anyway