Why I'm selling all my alt coins and putting everything into Golos

[gentil]

I don't like Steem, because it's just arbitrarily handing out coins that should have no value. Someone once compared it to one of those machines where when you flip the switch on, a lever comes out of the box and turns the switch back off, and that's all it does lolol. It's very true.

That doesn't mean it might not pump though.

2 questions:

1. How large of a team is currently promoting Golos to the Russian market? Is it only in crypto related groups or are they expanding outside of BTCTalk?

2. Are they targeting only Russia? What percentage of Russians currently use social media and have an internet connection in their house? (honest question, I literally have no clue, I'd imagine the percentage is similarly high as UK/USA)

Since we already know that the system can be gamed by large coin holders and alt accounts effectively upvoting their friends/alts in order to create a continuous stream of new coins coming into their wallets. Have they done anything to prevent this? If not, what's to stop current Steem whales from taking some Steem, selling it, and buying a bunch of Golos to game that system too?

Steem to me is a turn off. Each time I see a Steem link, I know the OP is just trying to make money. This is the same reaction 90% of people outside of the crypto bubble have. It's just another advertisement to them, even if the content was created with good intentions.

Steem I've barely seen anyone talk about OUTSIDE of bitcoin related conversations. I've seen a few social marketers talk about it on Youtube, but I literally don't see anything even close to "mass adoption", so going by population is kind of a mute point. It's all about their marketing team and whether Russians will take to the idea.

It has some definite potential for a pump, but I definitely wouldn't be a long term holder. The system is flawed to begin with. At least Synereo uses ads to make revenue (but then why create an altcoin to pay out users? Why wouldn't you just pay in USD since the ads pay in USD? What stops the competition from taking Synereo's business model but paying in cash/gift cards like most GPT sites?)

1. Golos isn't targeted at crypto or BTCTalk. The idea is that people can be rewarded for either producing or consuming content. The content isn't focused on any one subject area. But you can browse subject areas (eg. same way as Reddit etc). Its actually got similarities with Reddit the way good content gets upvoted.

2. Golos is targetted at Russians only. Thats why the whole website is in Russian. Given there are 250 million Russian speakers, why would they target other languages? There is far too much competition for English language social media platforms. I suppose in theory they could target other languages later, but it makes sense to go for the low hanging fruit first. The biggest social media platform in Russia is https://en.wikipedia.org/wiki/VK_(social_networking) I've read between about 65% of Russians use it, and about 75% of Russians use at least one social media platform

Regarding Steemit - yes your similar to me. I hadnt heard anyone outside of crypto reference it until the past few months. But if you look on Youtube there are increasingly more channels sending people to
Steemit, because Youtube etc is trying to clamp down on 'controversial' topics

Regarding ads  -why would they run ads and receive USD? This is the same business model as traditiuonal social media platforms. Then you have to deal with the problems of people running adblockers. Hundreads of millions of internet users use adblockers today  - something that barely had an traction until a few years ago.

Running ads also comes with other problems e.g. censorship etc.

You can't have a true 'free speech' platform thats funded by ads and USD as advertisers have rules about where they want their content run. There's also increasingly
problems with ad fraud.

Using a crypto coin like Golos gets around all these problems.

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[SwagGirl]

There so many coins out there do you think it make sense to just be in one. Diversity to at least 3 to 5 to be safe.

[gentil]

There so many coins out there do you think it make sense to just be in one. Diversity to at least 3 to 5 to be safe.

Because Golos looks so undervalued. There are many coins that have 10x or more during the past few months, even when they offer little that other currencies already do.

Golos offers something unique to 250 million Russian speakers that no other crypto does. The risk vs reward with Golos is far higher for me than any other crypto. Thats why I went all in on it

[looby]

Because of your careful analysis, I decided to buy some fork coins for Russian Steemit

[BitWhale]

Regarding ads  -why would they run ads and receive USD? This is the same business model as traditiuonal social media platforms. Then you have to deal with the problems of people running adblockers. Hundreads of millions of internet users use adblockers today  - something that barely had an traction until a few years ago.

Running ads also comes with other problems e.g. censorship etc.

You can't have a true 'free speech' platform thats funded by ads and USD as advertisers have rules about where they want their content run. There's also increasingly
problems with ad fraud.

Using a crypto coin like Golos gets around all these problems.

Well, I was just saying that atleast with Synereo the money is coming from something that's actually considered of value (ad views, giving advertisers more sales). All Steem does is create coins out of thin air (which are supposed to suddenly have value, but really where does that value come from?? economically it makes zero sense lol) and then it's "users" aka "whales" get to chose who gets the new coins aka "their alt accounts/friends". The system is inherently flawed to begin with lol, where does the value come from?

Also, Why monetize social media? If the idea is that paying users means they will create better content, that's not true at all. If anything it's the opposite. I can promise the content I posted on Steem was not "better" by any means, It was more like fishing. I just kept posting shit until something finally paid off lol. If anything it increases spam/duplicate content, because after all, it's much harder to do something for free than it is under the guise of getting paid.

Steem makes no sense to me lol, it's a useless machine handing out coins that should technically have no value.

I don't think any of the social marketing coins are a very solid idea. I don't think social media should be monetized. But, at least Synereo is trying to tackle a verifiably profitable business model (FB/IG/SC/TWTR).

The comment about USD was because the average person would be like "wtf is an amp, and how do I get money out of it?". If you are targeting 250m Russians, the easiest path is going to win. If you have to teach every completely new user about bitcoin, exchanges, how to store/utilize this new currency, most people are going to just blow it off lol. Why not just pay in Fiat/Giftcards like all of the other pay-to-watch sites already on the market dominating the space if the true goal was mass adoption? (hint: the goal isn't mass adoption, it never is).

good luck though man, I'm sure it might pump well. I am just not seeing Steem's model as a sustainable one (well I suppose they can give out free coins forever, I just don't see them being valuable for long in that case)

Also, if someone powerful wants something down, it doesn't matter if it's on Steem, FB, Synereo, Reddit, 4Chan, and even with work, the dark web, they can and will get it removed. As for advertisers not wanting to advertise on their content, that'd be the posters loss for creating content that can't be utilized. This is the only business model where you are actually contributing to society... Instead of just spamming steem in hopes a whale will upvote your post so you get free coins... coins that no one paid for that should technically be worth nothing.

[hheby]

Even if I'm bullish on Golos, I don't think eggs should be put in one basket, so you should diversify your investment.

[tehMoonwalker]

i hope you mean the headline to make your point not rly doing it, besides from that a high quality analysis that i agree on and wish there would be more of this on this bord besides shill and fud

[gentil]

Regarding ads  -why would they run ads and receive USD? This is the same business model as traditiuonal social media platforms. Then you have to deal with the problems of people running adblockers. Hundreads of millions of internet users use adblockers today  - something that barely had an traction until a few years ago.

Running ads also comes with other problems e.g. censorship etc.

You can't have a true 'free speech' platform thats funded by ads and USD as advertisers have rules about where they want their content run. There's also increasingly
problems with ad fraud.

Using a crypto coin like Golos gets around all these problems.

Well, I was just saying that atleast with Synereo the money is coming from something that's actually considered of value (ad views, giving advertisers more sales). All Steem does is create coins out of thin air (which are supposed to suddenly have value, but really where does that value come from?? economically it makes zero sense lol) and then it's "users" aka "whales" get to chose who gets the new coins aka "their alt accounts/friends". The system is inherently flawed to begin with lol, where does the value come from?

Also, Why monetize social media? If the idea is that paying users means they will create better content, that's not true at all. If anything it's the opposite. I can promise the content I posted on Steem was not "better" by any means, It was more like fishing. I just kept posting shit until something finally paid off lol. If anything it increases spam/duplicate content, because after all, it's much harder to do something for free than it is under the guise of getting paid.

Steem makes no sense to me lol, it's a useless machine handing out coins that should technically have no value.

I don't think any of the social marketing coins are a very solid idea. I don't think social media should be monetized. But, at least Synereo is trying to tackle a verifiably profitable business model (FB/IG/SC/TWTR).

The comment about USD was because the average person would be like "wtf is an amp, and how do I get money out of it?". If you are targeting 250m Russians, the easiest path is going to win. If you have to teach every completely new user about bitcoin, exchanges, how to store/utilize this new currency, most people are going to just blow it off lol. Why not just pay in Fiat/Giftcards like all of the other pay-to-watch sites already on the market dominating the space if the true goal was mass adoption? (hint: the goal isn't mass adoption, it never is).

good luck though man, I'm sure it might pump well. I am just not seeing Steem's model as a sustainable one (well I suppose they can give out free coins forever, I just don't see them being valuable for long in that case)

Also, if someone powerful wants something down, it doesn't matter if it's on Steem, FB, Synereo, Reddit, 4Chan, and even with work, the dark web, they can and will get it removed. As for advertisers not wanting to advertise on their content, that'd be the posters loss for creating content that can't be utilized. This is the only business model where you are actually contributing to society... Instead of just spamming steem in hopes a whale will upvote your post so you get free coins... coins that no one paid for that should technically be worth nothing.

I really don't follow what you're saying about the value part. You're saying coins are created out of thin air. Well look at all the POS coins. Where do they come from? Where does the USD come from? Thin air! The Federal Reserve prints it and tells us it has a value. Its backed up by absolutely nothing. At least Golos is backed up by a network with a use case.

POW coins like bitcoins have inbuilt problems like centralization by Chinese mining farms and scaleability.

And its not whales that are choosing accounts. Its people either creating content, curating or speculating. Thats a much better distribution model than 95% of other cryptos where the people that get the coins are either developers (premines) and speculators (people that pay fiat money for the coins). Yes some coins have airdrops like Byteball but this brings other problems too

Sure neither system is perfect distribution, but I'd rather take that of Golos than most other coins. At least Golos is bringing people into the crypto space that have never heard of it. Same with Steemit. How many other coins do that?

Why monetize social media? Why monetize anything then?! Because people have bills to pay and thats the world we live in 

[gentil]

i hope you mean the headline to make your point not rly doing it, besides from that a high quality analysis that i agree on and wish there would be more of this on this bord besides shill and fud

thank you for noting my analysis 

I'm enjoying this thread. I put my investment thesis out in public and am getting both positive and negative feedback.

[thejaytiesto]

I just cloned the internet, do you want to cancel your regular internet and join the bananonet?

You can post in russian on STEEM too

https://steemit.com/@blockchained

You could post in any language on Steem or any language on any other social platform. Thats not the point.

Golos is Russian only - e.g. its all Russian, the user controls, interface, focus of stories etc.

Its far more attractive for the 260 million Russian speakers to use Golos vs another English centred social media platforms.

But because its Russian it hasn't had much crypto investment.

Look at all the crypto coins that have market caps of above $20 million and pretty much zero real world use. Most crypto coins aren't even used day to day, the price is pure speculation. Golos has a growing userbase, and its only 4 months old.

Many people who use Golos and Steemit didn't even know what crypto was before they started using the platform. How many crypto currencies can say this? I don't know of any others - feel free to correct me if I'm wrong

But pretty sure Steemit could detect the IP of the user and automatically translate all controls of the layout into whatever language the IP is from (or manually set it if you are using a VPN)

You could argue that there are social media like VK that are huge in Russia only, but this is crypto, maybe people don't want to be bothered with holding an extra token if Steemit can deliver the same service.

[gentil]

But pretty sure Steemit could detect the IP of the user and automatically translate all controls of the layout into whatever language the IP is from (or manually set it if you are using a VPN)

You could argue that there are social media like VK that are huge in Russia only, but this is crypto, maybe people don't want to be bothered with holding an extra token if Steemit can deliver the same service.
[/quote]

Based on that idea, why does VK exist - the biggest social media website in Russia? It has over 400 million users worldwide https://en.wikipedia.org/wiki/VK_(social_networking_website)

Why didn't Facebook just detect the IP address of Russian users and give them Russian controls?

Golos is gaining traction in Russia because its built for Russians by Russians. Makes a big difference.

[alyssa85]

Golos is due a pump, that's for sure. But they're on Bittrex and it doesn't attract as many pumps as coins on Poloniex (though nearly dead coins like Reddcoin had a recent pump on Bittrex, so anything is possible).

If Golos could get themselves listed on more exchanges, they have more of a chance of being pumped.

[gentil]

Golos is due a pump, that's for sure. But they're on Bittrex and it doesn't attract as many pumps as coins on Poloniex (though nearly dead coins like Reddcoin had a recent pump on Bittrex, so anything is possible).

If Golos could get themselves listed on more exchanges, they have more of a chance of being pumped.

I'm not so sure its due a pump, I more believe its simply undervalued. I believe the price will increase once people do the math and realize how undervalued Golos is vs other alt coins.

Also - Bittrex trading volumes have increased hugely during the past few months. I remember in early March 2017 Bittrex was doing about 2,000 BTC volume a day (when BTC was worth about $1,200).

Now Bittrex is doing about 35,000 BTC a day when BTC is worth about $2,000.

Thats a USD trading volume increase of about 30,000% in less than 3 months. There's no lack of volume on Bittrex

[gentil]

Because of your careful analysis, I decided to buy some fork coins for Russian Steemit

Thanks for the props for my analysis 

It seems that there are many people that agree with me that its underpriced

[btbrae]

Ehhh OP, never go full retard.

Although Golos looks to have better development and will probably overtake Steemit, which seems to have been abandoned on the development front as the founders seem to have all cashed out and moved on.

The idea was good, it just needs a good Captain.

[TheWallStreetCrew]

Because of your careful analysis, I decided to buy some fork coins for Russian Steemit

Thanks for the props for my analysis 

It seems that there are many people that agree with me that its underpriced

The price is falling for the last few days. Falling in an up market at that.

[gentil]

Because of your careful analysis, I decided to buy some fork coins for Russian Steemit

Thanks for the props for my analysis  

It seems that there are many people that agree with me that its underpriced

The price is falling for the last few days. Falling in an up market at that.

Thats an awful attempt at a FUD

The market cap increased from $3.7 million May 18 to $7.5 million May 20  - screenshot http://prntscr.com/fa5lgj

So the price of Golos has increased 102% in only two days. In the same time period alt coins have gone up about 15.3% - screenshot http://prntscr.com/fa5o5m

Please explain your math?

[gentil]

Ehhh OP, never go full retard.

Although Golos looks to have better development and will probably overtake Steemit, which seems to have been abandoned on the development front as the founders seem to have all cashed out and moved on.

The idea was good, it just needs a good Captain.

I don't know if what you say about Steemit is true. If so it makes Golos look even more underpriced, as if this is the case Steemit has a market cap of $280 million without a development team, and Golos is only priced at $7.5 million with a development team

[Ockin]

Hey,

Sorry to ask a really stupid question, but what wallets are you using to store golos? Are they stored in steem wallets?

[bitbob82]

Even if I'm bullish on Golos, I don't think eggs should be put in one basket, so you should diversify your investment.

yes that is a wise decission, as i am very confident that the price of bitcoin is expected to increase, as still there is more potential in the price of bitcoin but still i am not going to put all my coins in one place.  will like to put my coins in different places.