Bitcoin Forum
May 26, 2020, 01:01:35 PM *
News: Latest Bitcoin Core release: 0.19.1 [Torrent]
 
   Home   Help Search Login Register More  

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: [1]
  Print  
Author Topic: I'm bored... it's hot... and I like throwing money away on frivolous investments  (Read 383 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic.
HCP
Legendary
*
Offline Offline

Activity: 1344
Merit: 2502

<insert witty quote here>


View Profile
December 05, 2019, 09:50:05 PM
Last edit: February 03, 2020, 06:54:47 PM by HCP
Merited by Last of the V8s (1)
 #1

AKA: HCP's Ode to LoyceV's Legendary 10 Month 10 Person 10 Altcoin Investment Roller Coaster (with a Twist)

Summary:

I think we all know the basic concept... 10 people (including me) will each contribute 0.01BTC to a pool and then each person chooses a different altcoin... and I'll then buy the 10 chosen altcoins (via an exchange Bittrex, Poloniex, Binance, Bitmex)... we'll all then F5 repeatedly on coinmarketcap.com for 10 months hoping against all hope that we at least break even this time Tongue

However, based on a suggestion... it's time for a twist!

At the end of the 10 months... Any altcoin that has "lost" (ie. is worth less than 0.01 BTC BEFORE trading/withdrawal/transaction fees) will simply be returned to the person who picked it and that person is removed from the pool. Any altcoin that has "won" (ie. is worth >= 0.01 BTC BEFORE trading/withdrawal/transaction fees) will be sold and then split amongst the remaining participants (if any).

To illustrate... let's pretend we get the following (very unlikely) results:
||Altcoin|Start|End|
|1. |GBYTE|0.01BTC|0.01043996BTC|
|2. |PIVX|0.01BTC|0.00526071BTC|
|3. |SC|0.01BTC|0.00957474BTC|
|4. |XRP|0.01BTC|0.02049344BTC|
|5. |NANO|0.01BTC|0.01000000BTC|
|6. |NEO|0.01BTC|0.00999999BTC|
|7. |WAN|0.01BTC|0.00464830BTC|
|8. |NMC|0.01BTC|0.01009288BTC|
|9. |DGB|0.01BTC|0.00370873BTC|
|10. |XMR|0.01BTC|0.01073756BTC|

PIVX, SC, NEO, WAN, DGB all "lost" (< 0.01BTC value)... so those participants would simply receive their chosen coins back after the 10 months as their "reward" for being shit at picking altcoins.

GBYTE, XRP, NANO, NMC, XMR all "won" (>= 0.01BTC value)... so those participants would get:
(0.01043996 + 0.02049344 + 0.01000000 + 0.01009288 + 0.01073756) / 5 = 0.012352768BTC (- trading/transaction fees) as their "reward" for being less shit at picking altcoins.

In the event that ALL coins "lose"... well, everyone simply gets their chosen "worthless shitcoin"™ back! Tongue



Start Date:
Will kick off once 10 people have signed up and deposited 0.01 BTC.


End Date:
TBA once Start Date is known.


How to "Play":

Simply pick an altcoin that you think won't be a total train wreck in 10 months... then post the following, replacing my details with yours. Note that it's probably a good idea to use an address that you'll actually have access to in 10 months time.
Code:
Bitcointalk name: HCP
Altcoin I choose: GRIN
I will pay 0.01 BTC once 10 people have joined: yes
After 10 months, return my 10% of the "winnings" to: 3GgSk2dRsDShRdSTrLjs1iBPf2qetRhZhk

First in, first served... and once you're "in"... you're "in" for 10 months... there is no escape!

I'd prefer if people choose coins that were listed here: https://shop.ledger.com/pages/supported-crypto-assets (in the Nano S column) or here: https://trezor.io/coins/ (in the Trezor ONE column) and that are "easily" obtainable... (on an exchange like Poloniex or Binance or Bittrex etc)... (Yes, I know GRIN isn't on hardware wallets!... DO AS I SAY, NOT AS I DO! Tongue)

Once we have 10 participants and 10 coins sorted... I'll post up deposit addresses for the participants to deposit their 0.01 BTC. Once all the funds are in place, I'll convert the BTC to altcoins and off we go.

At this stage, I'm considering storing the altcoins on a hardware wallet (if possible) or a local wallet, instead of leaving them on an exchange... but will need to investigate the withdrawal and transfer fees involved. Final decision will be by majority vote from the 10 participants. In case of a split vote, decision will be made by random selection (a future block number will be chosen and the last "char" of the blockhash will decide the outcome "1,3,5,7,9,a,c,e" = exchange, "2,4,6,8,0,b,d,f" = hardware wallet)



Disclaimer:

In case you hadn't realised after the last 2 rounds of this game... "Bad Things"™ can happen:
- An altcoin can simply become worthless and cease to exist.
- Exchanges can delist an altcoin.
- 0.01 BTC of an altcoin can drop lower than the minimum amount required to trade it.
- Also, in case it wasn't obvious, you're "buying" a 10% share of all the altcoins chosen... so if someone else's pick tanks... you lose too!
- This is just a bit of fun... don't join expecting to make any money... and don't play with money you can't afford to lose!


NOTES:

- Thread has been made self-moderated to help keep things tidy.
- Inspired by (and with large parts "borrowed") from LoyceV's thread Wink
- Credit to OgNasty for suggesting "The Twist"™

1590498095
Hero Member
*
Offline Offline

Posts: 1590498095

View Profile Personal Message (Offline)

Ignore
1590498095
Reply with quote  #2

1590498095
Report to moderator
1590498095
Hero Member
*
Offline Offline

Posts: 1590498095

View Profile Personal Message (Offline)

Ignore
1590498095
Reply with quote  #2

1590498095
Report to moderator
UNIQUE HILO GAME $500 DAILY CONTEST BEST AUTOBET MODE 30% RAKEBACK FOR VIPS PROVABLY FAIR Play Now Play Now
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1590498095
Hero Member
*
Offline Offline

Posts: 1590498095

View Profile Personal Message (Offline)

Ignore
1590498095
Reply with quote  #2

1590498095
Report to moderator
1590498095
Hero Member
*
Offline Offline

Posts: 1590498095

View Profile Personal Message (Offline)

Ignore
1590498095
Reply with quote  #2

1590498095
Report to moderator
1590498095
Hero Member
*
Offline Offline

Posts: 1590498095

View Profile Personal Message (Offline)

Ignore
1590498095
Reply with quote  #2

1590498095
Report to moderator
HCP
Legendary
*
Offline Offline

Activity: 1344
Merit: 2502

<insert witty quote here>


View Profile
December 05, 2019, 09:50:18 PM
 #2

reserved

Last of the V8s
Legendary
*
Offline Offline

Activity: 1484
Merit: 3639


Be a bank


View Profile
December 05, 2019, 10:06:07 PM
 #3

Hello. How very cool.

Code:
Bitcointalk name: Last of the V8s
Altcoin I choose: LINK
I will pay 0.01 BTC once 10 people have joined: yes
After 10 months, return my 10% of the "winnings" to: 14o7EJmCYaLfsaU6rwkGou2SyJMyEqcebZ

I have no sense of what a LINK is. Maybe I'll research it. Just a name I heard a lot as a likely winner, but we shall see.
Thanks so much.

OgNasty
Donator
Legendary
*
Offline Offline

Activity: 3290
Merit: 1874


I 💚 Bitcoin


View Profile
December 05, 2019, 11:45:41 PM
 #4

Is Grin your actual choice or is that an example?

HCP
Legendary
*
Offline Offline

Activity: 1344
Merit: 2502

<insert witty quote here>


View Profile
December 06, 2019, 12:15:59 AM
 #5

Is Grin your actual choice or is that an example?
Yeah... I guess I didn't make that clear... so, for reference... it IS my choice.

Code:
Bitcointalk name: HCP
Altcoin I choose: GRIN
I will pay 0.01 BTC once 10 people have joined: yes
After 10 months, return my 10% of the "winnings" to: 3GgSk2dRsDShRdSTrLjs1iBPf2qetRhZhk

Last of the V8s
Legendary
*
Offline Offline

Activity: 1484
Merit: 3639


Be a bank


View Profile
December 08, 2019, 10:39:44 AM
Last edit: December 08, 2019, 11:17:04 AM by Last of the V8s
 #6

Such season very altcoin wow.
Come on people, the bottom is in (in btc) probably and alts may drift up a bit with it now, possibly.

Last of the V8s
Legendary
*
Offline Offline

Activity: 1484
Merit: 3639


Be a bank


View Profile
December 10, 2019, 11:17:43 AM
 #7

Shit I just looked up what LINK is and it makes no sense to me at all. Not saying it's intentionally scammy, but they will end up taking people's bitcoins. I dunno what I was thinking really. All (bar perhaps GRIN) these altcoins don't stand up, and I don't even want to dabble in them now I look at it seriously.
I am sorry, y'all can negrate me if you like, but I am withdrawing my commitment to contribute here.

xhomerx10
Legendary
*
Offline Offline

Activity: 2394
Merit: 2966


Aceeasi Marie cu alta palarie


View Profile
December 10, 2019, 01:44:25 PM
 #8

Shit I just looked up what LINK is and it makes no sense to me at all. Not saying it's intentionally scammy, but they will end up taking people's bitcoins. I dunno what I was thinking really. All (bar perhaps GRIN) these altcoins don't stand up, and I don't even want to dabble in them now I look at it seriously.
I am sorry, y'all can negrate me if you like, but I am withdrawing my commitment to contribute here.

 I knew you'd come to your senses Smiley

Forum legend Phinnaeus Gage has passed on. 
 His final wish was for financial assistance. 

/$$$$$$$                                         /$$              /$$$$$$$$ /$$                     /$$       /$$$$$$$$           /$$   /$$            /$$$$$$                                  
| $$__  $$                                        |$/             | $$_____/|__/                    | $$      | $$_____/          |__/  | $$           /$$__  $$                                 
| $$  \ $$  /$$$$$$  /$$   /$$ /$$$$$$$   /$$$$$$ _//$$$$$$$      | $$       /$$ /$$$$$$$   /$$$$$$ | $$      | $$       /$$   /$$ /$$ /$$$$$$        | $$  \__/  /$$$$$$$  /$$$$$$  /$$$$$$/$$$$
| $$$$$$$  /$$__  $$| $$  | $$| $$__  $$ /$$__  $$ /$$_____/      | $$$$$   | $$| $$__  $$ |____  $$| $$      | $$$$$   |  $$ /$$/| $$|_  $$_/        |  $$$$$$  /$$_____/ |____  $$| $$_  $$_  $$
| $$__  $$| $$  \__/| $$  | $$| $$  \ $$| $$  \ $$|  $$$$$$       | $$__/   | $$| $$  \ $$  /$$$$$$$| $$      | $$__/    \  $$$$/ | $$  | $$           \____  $$| $$        /$$$$$$$| $$ \ $$ \ $$
| $$  \ $$| $$      | $$  | $$| $$  | $$| $$  | $$ \____  $$      | $$      | $$| $$  | $$ /$$__  $$| $$      | $$        >$$  $$ | $$  | $$ /$$       /$$  \ $$| $$       /$$__  $$| $$ | $$ | $$
| $$$$$$$/| $$      |  $$$$$$/| $$  | $$|  $$$$$$/ /$$$$$$$/      | $$      | $$| $$  | $$|  $$$$$$$| $$      | $$$$$$$$ /$$/\  $$| $$  |  $$$$/      |  $$$$$$/|  $$$$$$$|  $$$$$$$| $$ | $$ | $$
|_______/ |__/       \______/ |__/  |__/ \______/ |_______/       |__/      |__/|__/  |__/ \_______/|__/      |________/|__/  \__/|__/   \___/         \______/  \_______/ \_______/|__/ |__/ |__/
                                                                                                                                                                                                 
                                                                                                                                                                                                 
                                                                                                                                                                                                 

  Donations of any amount are appreciated.
 <-Click on that to read Bruno's request.
buwaytress
Legendary
*
Online Online

Activity: 1358
Merit: 1273


https://bitcoin.watfordfc.com


View Profile
January 04, 2020, 05:01:02 PM
 #9

Should really pay more attention to these old threads. I participated in both ill-fated but exciting previous manifestations, so yes, I also like throwing money away on frivolous investments. But since I quit smoking over a year ago, I've been putting the savings away on lottery subscriptions (yes, I'm masochist). Why not another 0.01 BTC on stupid altcoins, right?

I've taken the liberty to edit the line below, btw, since 10% of winnings was the old rollercoaster bladibla:

Code:
Bitcointalk name: buwaytress
Altcoin I choose: WAVES
I will pay 0.01 BTC once 10 people have joined: yes
After 10 months, return my share of the "winnings" according to the marvelous new twist formula: bc1q868kycfcuy6qnwt7sma6jdawx0q8q3ehr83z3u

Now if only there were a way to nudge those past participants. Maybe they're blind like me and never saw this phoenix rising from the ashes of Loyce's thread.

teeGUMES
Hero Member
*****
Offline Offline

Activity: 1079
Merit: 852


View Profile
January 04, 2020, 07:45:36 PM
 #10

I'd join but I don't trust shitcoins this close to the halvening. If there is a still a spot after I will join for sure.
HCP
Legendary
*
Offline Offline

Activity: 1344
Merit: 2502

<insert witty quote here>


View Profile
January 04, 2020, 08:55:51 PM
 #11

I'd join but I don't trust shitcoins this close to the halvening. If there is a still a spot after I will join for sure.
Actually, that is a pretty valid point... and not something I had actually considered until now.

The halvening is likely to have a massive impact on Bitcoin (and by proxy, all cryptocurrency)... Perhaps it would be wise to commence after it occurs so there is less chance of a massive "event" in the middle of the experiment that could wildly skew the values?

buwaytress
Legendary
*
Online Online

Activity: 1358
Merit: 1273


https://bitcoin.watfordfc.com


View Profile
January 05, 2020, 09:15:56 PM
 #12

Agree on halving considerations. But I thought this was about us throwing away money frivolously, like it's nothing more than mere glitter crypto for entertainment?Wink

But okay, sure. Personally, I think halving will not have the desired (or expected maybe I mean) impact. Everything's already spread out and priced in over the long term, but hey, what I think is shit, judging from my performance of alts in past 2 rounds.

Be nice to still ping people around and get some er consensus over dates.

KonstantinosM
Hero Member
*****
Offline Offline

Activity: 1247
Merit: 671


Life is a taxable event


View Profile
January 30, 2020, 09:53:22 PM
 #13

You've misspelled some 0.01's as 0.1's on the OP

Anyway... It's on!

The btc denominated value of syscoin has plummeted over the past 10 months from a high of 1668 satoshis around march 29, 2019 to 278 satoshis today.

So It's either dying, or ready to blow up. It's clear which side I'm on so I'm not going to belabor the point. Quite a gamble.


Code:
Bitcointalk name: KonstantinosM
Altcoin I choose: Syscoin
I will pay 0.01 BTC once 10 people have joined: yes
After 10 months, return my 10% of the "winnings" to: bc1qekrkj8qjw65ac8eaqtur9pnc42m9203mfwakfr
HCP
Legendary
*
Offline Offline

Activity: 1344
Merit: 2502

<insert witty quote here>


View Profile
February 03, 2020, 06:57:39 PM
 #14

Thanks for the offer to join, but to be honest this didn't get the support or traction that I had hoped for.

Sadly, I think we might have missed the pump and I'm not sure we'll get 10 people on board any time soon... but I'm still keen to try.

TMAN
Legendary
*
Offline Offline

Activity: 1414
Merit: 1803


Exchange Bitcoin quickly-https://blockchain.com.do


View Profile WWW
February 04, 2020, 10:18:00 AM
 #15

ill have a go fella, id want ATOM, as its a staking coin id be happy for you to leave it on Polo so the retuns are compounded if you would allow it (any risk of Polo fucking off with it all would be on me of course) would that work?

███████████████████████████
███████████████████████████
████████▀▀▄▄▄▄▄▄▄▀▀████████
██████▀▄██▀▀▄▄ ████▄▀██████
█████ ███ ████ ▀▀████ █████
████ █████ ███▀▀▀▄████ ████
████ ███▀▀▀▄▄▄████████ ████
████ ██▄▄▀▀███████▀▄▄█ ████
█████ █████ █▀██▀▄███ █████
██████▄▀███▀▄█▀▄███▀▄██████
████████▄▄▀▀▀ ▀▀▀▄▄████████
██████████▀▄███████████████
██████████████████████████
.
.FORTUNEJACK   JOIN INVINCIBLE JACKMATE AND WIN......10 BTC........
█████████████████████████
█████████████████████████
██████▀▀▀       ▀▀▀██████
█████  ▄▄▄█████▄▄▄  █████
█████  █████ █████  █████
█████  ██▄     ▄██  █████
█████  ████   ████  █████
█████▄  ██▄▄█▄▄██  ▄█████
██████▄  ███████  ▄██████
███████▄   ▀▀▀   ▄███████
██████████▄▄ ▄▄██████████
█████████████████████████
█████████████████████████
.
..
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!