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

[woas4]

I'd be very cautious following this advice. Steem is a very new platform in a very competitive market with huge players already controlling it (Facebook, LinkedIn are two for starters) and people haven't really been joining it because it's good, only because they think they can make a quick buck - and once they realize they can't, they'll drop it. I predict it won't be worth much in the future - neither Steem or Golos.

But to each his own! If you think it can work, go for it.

[1714799613]

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[1714799613]

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[gentil]

Why you think that Russians not trading at Bittrex? We trade there where is better, no matter of language. We used Poloniex and Bittrex and others English speaking markets. And I think Golos is like 50 others coins, it has nothing special, and I don't know anyone, who can put even 30 % of it's deposite to one coin not from top10.

Golos is like one other coin - Steem. Except Golos is Russian.

So what are these 50 other coins that Golos is like?

Typical newbie account making factually incorrect comments

[solarrobot]

Do you have any info on the inflation rate on golos? That was a big issue on steem in the beginning. The problem with investing in GOLOS is that it is hard for a non russian speaker to understand the mechanics of the ecosystem, which is liquid and changed by the witnesses.  I don't think it's a bad move, I think steem is a very promising system, which will naturally fix itself. I don't really know what the advatage of creating a new blockchain rather than just creating a russian site using the already established steem database.

The only other bit of caution i would add though is that EOS is around the corner. both steem and golos could run on EOS, and at that point there will be no reason for it to have it's own blockchain or rather, plugging into a larger ecosystem will prove to be very beneficial for a system like GOLOS or STEEM.

But yeah, the main thing i'd look out for is the inflation rate. Because of the nature of Steem and Golos, its a system that naturally loses some money through payouts, and counts on speculators and investors looking for influence in the system to prop it up.  This is why steem underperformed other crypto, there is a constant amount of negative pressure on the system.

[gentil]

Do you have any info on the inflation rate on golos? That was a big issue on steem in the beginning. The problem with investing in GOLOS is that it is hard for a non russian speaker to understand the mechanics of the ecosystem, which is liquid and changed by the witnesses.  I don't think it's a bad move, I think steem is a very promising system, which will naturally fix itself. I don't really know what the advatage of creating a new blockchain rather than just creating a russian site using the already established steem database.

The only other bit of caution i would add though is that EOS is around the corner. both steem and golos could run on EOS, and at that point there will be no reason for it to have it's own blockchain or rather, plugging into a larger ecosystem will prove to be very beneficial for a system like GOLOS or STEEM.

But yeah, the main thing i'd look out for is the inflation rate. Because of the nature of Steem and Golos, its a system that naturally loses some money through payouts, and counts on speculators and investors looking for influence in the system to prop it up.  This is why steem underperformed other crypto, there is a constant amount of negative pressure on the system.

Some fair points - thanks for your input. I don't have any additional info on the inflation rate.  I've said myself before - the Golos and Steem systems are not perfect. But that doesnt mean I don't think Golos is underpriced - hence why I went all in on it. Long term I'd be surprised for Golos and Steem last. But thats the same I'd say 95% + of all current blockchains. Better projects will replace what we have today. But short term/medium term I think the market is going to realize how underpriced Golos is.

Regarding EOS - I don't see how this affects them. EOS is more competing with Ethereum. If you want to make that point about EOS, then you could apply it to many many other blockchains. Its all ifs and maybes

[serejandmyself]

15% yearly inflation, dropping each year

[ckolt690]

Thank you for the info. Anyway, it was useful 

[Bakemat]

I've come to the conclusion that Golos http://coinmarketcap.com/currencies/golos/ is massively undervalued. For this reason I've decided to sell all my other alt coins and put everything into Golos. Here's why:

Background

Golos is a fork of Steem http://coinmarketcap.com/currencies/steem/ but for Russian users (Steem is targetted at English speakers).

Its basically a social media platform where you earn Golos (money) for either writing articles or curating articles (upvoting etc). This is explained here https://steemit.com/faq.html#How_does_Steemit_work

Steem also has a large Wikipedia page
https://en.wikipedia.org/wiki/Steemit

My calculations

There are about 500 million native English speakers in the word, with another 510 million people speaking English as a second language - source https://en.wikipedia.org/wiki/List_of_languages_by_total_number_of_speakers (total of 1.01 billion speakers).

There are about 150 million native Russian speakers, with another 115 million speaking it as a second languge (total of 265 million speakers).

So there are roughly 3.8 times more English speakers than Russian speakers.

The market cap of Steem is currently about $212 million
The market cap of Golos is currently about $4 million

So the market cap of Golos is about 53 times smaller than Steem, but there are only 3.8 more English speakers than Russian speakers. All other things being equal the market cap of Golos should be 3.8 times smaller than Steem, so $56 million (instead of the current $4 million)

Steem is about 13 months old
Golos is about 4 months old

Obviously we need to consider the current number of users on both platforms when comparing price

https://golos.io/ and https://steem.io

Its an approximate calculation, but it appears currently Steem has about 5-10 times more posts, votes etc than Golos. So say an average of 7.5 more traction. So based on these numbers Golos should have a market cap 7.5 times less than Steem - so $28 million (instead of the current $4 million)

Recent Steem performance vs Golos vs alts

Golos launched on January 19 2017. Since this date, Steem has increased its market cap by 473%. However Golos has decreased its market cap by 7%. And since the same date, alt coins have increased 1262%

So basically Steem has underperformed the alt coin market, and Golos has totally underperformed the alt coin market since it launched.

The Ripple and Stellar effect

This is where it gets more interesting. Ripple shot up in value by more than 6000% between March and now.

Stellar Lumens are a fork of Ripple. Despite Ripple exploding, the price of Stellar barely changed until May 4. Between May 4 and May 18 it increased about 750%

Despite most alt coins exploding January-May, the Steem price didnt move much. Then between May 5 and today May 18 Steem has gone up 177%. Golos may well shoot up in value any time soon.

The Russian language opportunity

A possible reason why Golos has lagged the market is its an entirely Russian crypto. The majority of crypto investors (like you and me) don't speak Russian.

So when we visit a crypto coin website like Golos https://golos.io/ and see a bunch of Russian we pretty much rule out investing in it. We don't understand it!!

However think about it from a Russian crypto investors perspective. Most Russians don't speak English, certainly most don't speak it well enough to read/analyse English language focused crypto coin websites (basically most cryptos). NB think how hard it is to understand much crypto info when its written in your native language, never mind your second language.

Golos would be a much easier investment for Russians to make. They don't need to try and use Google translate etc to understand the offering.

Other factors

I first read about Steem about 6 months ago. I had a look, but to me the quality of the content was really poor and it didnt seem to have much traction.

However this is changing fast. For example this article https://steemit.com/cryptocurrency/@jrcornel/is-this-the-beginning-of-cryptocurrency-mass-adoption has earned more than $400 despite only being 1 day old! If this article was published 1 month ago (before Steemit shot up in value) it would only have earned about $100 in 1 day. Steem and Golos have an ingenius network effect.

Further, the main social media platforms like Youtube and Facebook have started trying to ban anti establishment content like https://steemit.com/money/@sgtreport/end-of-the-empire-bill-holter How dare anyone suggest the USD has problems, despite there being so much evidence that the USD as a world reserve currency is failing! This kind of big brother censorship on Facebook, Youtube etc is only going to make sites like Steem and Golos far more popular.

So in summary thats why I'm going to sell all my alt holdings and put them into Golos. I think its going to explode in value really soon.

Let me know you're thoughts. If you think I'm an idiot then please back up your viewpoint with data  

Well thats a good plan but you dont know what will happen next. Your altcoins is much better than Golos but its your choice btw. You can still invest on other coins.

[solarrobot]

Regarding EOS - I don't see how this affects them. EOS is more competing with Ethereum. If you want to make that point about EOS, then you could apply it to many many other blockchains. Its all ifs and maybes

Fair enough. Just saying that once an ecosystem starts growing on a blockchain like EOS, then steem will start to feel very limited. Because steem could be entirely integrated into EOS, and but be directly connected to other apps like bitshares, or cloud storage, or all sorts of services that have started building their own blockchains.

[serejandmyself]

It seems as most are missing out the point that golos is actually already not just a fork of steem. It is a unique mixture of steem, bitshares and its own

[gentil]

It seems as most are missing out the point that golos is actually already not just a fork of steem. It is a unique mixture of steem, bitshares and its own

why do you say bitshares?

[serejandmyself]

It seems as most are missing out the point that golos is actually already not just a fork of steem. It is a unique mixture of steem, bitshares and its own

why do you say bitshares?

cuase starting with the next hf you can create UIA and smart coins on golos + multisig + proposlas etc

[gentil]

It seems as most are missing out the point that golos is actually already not just a fork of steem. It is a unique mixture of steem, bitshares and its own

why do you say bitshares?

cuase starting with the next hf you can create UIA and smart coins on golos + multisig + proposlas etc

how do you know -  e.g. is this published somewhere?

[Calangaman]

how do you know -  e.g. is this published somewhere?

This guy is the CEO of Golos according to the white paper

[dadonn]

Irrespective of his agenda, the market cap of Golos is up 4x from when he first posted. Not bad.

[gentil]

Irrespective of his agenda, the market cap of Golos is up 4x from when he first posted. Not bad.

Since I posted the OP, the entire crypto market is up about 50%, whilst Golos is up about 300%.

And still all these ''investment geniuses'' with newbie forum accounts and tiny crypto holdings of probably about $5,000 dollars like to tell me how stupid I am.

Segwit is causing uncertainity in the market, and investors are looking to hold cryptos that actually have traction. Given that Golos has traction and is clearly undervalued is why its going to outperform the market

[dadonn]

Irrespective of his agenda, the market cap of Golos is up 4x from when he first posted. Not bad.

Since I posted the OP, the entire crypto market is up about 50%, whilst Golos is up about 300%.

And still all these ''investment geniuses'' with newbie forum accounts and tiny crypto holdings of probably about $5,000 dollars like to tell me how stupid I am.

Segwit is causing uncertainity in the market, and investors are looking to hold cryptos that actually have traction. Given that Golos has traction and is clearly undervalued is why its going to outperform the market

Although I'm new, I have noticed it can be a tough crowd. My wife is Russian and I'm going to have her give Golos the once over. Personally, I liked your train of thought and "all in" attitude. In fairness to the respondents, so many people here are hawking some agenda one way or the other. And good on you for picking something that spanked the market and you did it en avance. Somehow, most everyone seems to buy on the low and or "filled their bag" a day or two before something spikes. Big ups to you.

[AlexSavv]

Golos means "ass" in Greek - and for that reason - I'm out.

[gentil]

Irrespective of his agenda, the market cap of Golos is up 4x from when he first posted. Not bad.

Since I posted the OP, the entire crypto market is up about 50%, whilst Golos is up about 300%.

And still all these ''investment geniuses'' with newbie forum accounts and tiny crypto holdings of probably about $5,000 dollars like to tell me how stupid I am.

Segwit is causing uncertainity in the market, and investors are looking to hold cryptos that actually have traction. Given that Golos has traction and is clearly undervalued is why its going to outperform the market

Although I'm new, I have noticed it can be a tough crowd. My wife is Russian and I'm going to have her give Golos the once over. Personally, I liked your train of thought and "all in" attitude. In fairness to the respondents, so many people here are hawking some agenda one way or the other. And good on you for picking something that spanked the market and you did it en avance. Somehow, most everyone seems to buy on the low and or "filled their bag" a day or two before something spikes. Big ups to you.

thanks. Yes because I don't speak Russian I've asked several Russians to research Golos for me. They all tell me the same thing - basically the content is interesting enough for people to read . Of course some content is bad - like any social media website. But given the fact there's enough good content and the platform is growing it remains for me an excellent coin to hold

[Calangaman]

Personally, I liked your train of thought and "all in" attitude. In fairness to the respondents, so many people here are hawking some agenda one way or the other. And good on you for picking something that spanked the market and you did it en avance. Somehow, most everyone seems to buy on the low and or "filled their bag" a day or two before something spikes. Big ups to you.

Welcome to the cryptoworld!

Since you are new, there are dozens of coins that pumped before being dumped big time.
In the end, it's all about doing your homework and being a bit lucky. Like any investment.

[lijoe408]

When is someone going to make the Chinese steemit if it doesn't already exist.  I'll go all in on that.