Web 3.0 (Ethereum) is happening, and most people have no idea what it even is.

[eduinvestor]

Yobit and Bitrex the most reliable sites to buy XRP and (Pay) or should I be using Coinbase? Looks like there has recently been a lot of sites hacked to steal coins

I really recommend you to go to coinmarketcap.com. There you can see all the sites where you can buy XRP or any other crypto.
Take a look here: Ripple (XRP) price, charts, market cap, and other metrics | CoinMarketCap
Here you'll see in which exchanges you can buy XRP.
By the way, I don't recommend you Yobit, there are a lot of better exchanges out there

 

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[steelandchrome]

Yes, they will ask you to upload government-issued ID and will actually verify that the name matches the whitelisted name. The only way I know how to get around KYC for these ICOs is to find someone outside the US who can get whitelisted and invest for you.

As for KickICO, we got offered a pre-sale with a 40% bonus (4200 Kick per ETH), but there isn't enough interest from my group to hit the minimum buy-in -- we're 240 ETH short. If you want to invest 240 ETH, we can get around your not being in the US...

Not at this time, I was thinking like 10 ETH but thanks for the offer. I just put 10 ETH into PAY and that will have to ride for a while it would appear. Looking for an upcoming ICO to put another 10-20 ETH in and go from there.. took a big hit in the stock market today as I held a LOT of ULTA and they got downgraded and dropped $23 a share

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[steelandchrome]

A few of the ICOs/Pre-Sales that we're currently considering over the next couple weeks (please don't take this as a recommendation or endorsement of any of these):

- Enigma
- Omega One
- Science
- Hero Token
- Kin
- Sense Token

Ive looked into Omega One, they look like a great idea and signed up for the waitlist. Anything that helps potential avoidance of flash crash opportunity should gather a lot of support. I'll have to check out the others, thank.

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[AdrianL]

I've got to up my Crypto-game; been interested in Ethereum for quite some time but haven't gotten the chance to go over the basics (blockchain, bitcoin, etc) yet.

@JScott - What's your take on NEM ? It's market cap isn't as big as Ripple but investing in a few more coins might pay off in the long run.

 

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[AdrianL]

That said, this whole space is crazy (and crazy complex) right now.

Yeah, next step is to get up to date on the basis and maybe developing apps on top of ETH, although considering the amount of information I'll need to catch up, might have to set up days to study this just to get there.

Regarding NEM, some were also mentioning it might have potential due to the fact that it's tested by institutions and companies in Japan.

In any case, thanks for the insight!

 

[AG356]

A few of the ICOs/Pre-Sales that we're currently considering over the next couple weeks (please don't take this as a recommendation or endorsement of any of these):

- Enigma
- Omega One
- Science
- Hero Token
- Kin
- Sense Token

I think I have to step my game up so I can participate in those kind of groups lol. Thanks for sharing your picks, 3 out of the 6 you listed were already on my list. Will have a closer look into the other ones.

@JScott how do you manage your time when researching, reading and trading those cryptos? I've read the "Featured thread" about you and you're currently in real estate, investing and book writing IIRC. How do you split up your time or do you go by feel how much effort is needed right now in your ventures?

 

[Twopro]

Yes, they will ask you to upload government-issued ID and will actually verify that the name matches the whitelisted name. The only way I know how to get around KYC for these ICOs is to find someone outside the US who can get whitelisted and invest for you.

As for KickICO, we got offered a pre-sale with a 40% bonus (4200 Kick per ETH), but there isn't enough interest from my group to hit the minimum buy-in -- we're 240 ETH short. If you want to invest 240 ETH, we can get around your not being in the US...

I may be interested in this, how would I be assured I'd get my share of the tokens though?

 

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[AG356]

Most of my real estate activities are on auto-pilot these days (passive investing), and I'm currently not working on a book. So, I pretty much decided to take the summer off to spend time with the family and start planning a couple new business ventures (and doing crypto research)...

That said, I'm part of a small group of investors that are all very interested in crypto, and we've had a Facebook group that we've been using to trade ideas, opinions, research, etc. for several months now. Honestly, this group has provided 95% of the information I have...basically, we're all learning and teaching each other at the same time. For example, until yesterday, I had never heard of the Science ICO, but one of the guys in the group was at a networking event and met someone involved with the company. Two hours later, after they had been chatting for a while, we were offered to be part of the pre-sale...we all spent the night doing research and sharing information to determine if it was something we wanted to pool our funds and invest in...

In fact, for anyone looking to learn the space, I would highly recommend finding a few friends/colleagues that have the same level of interest as you, and just start a networking/mastermind group. Share information, research, ideas...and perhaps even pool your money to get some more lucrative investments...

Alright, that makes sense. Sounds like a quality summer as well!

This sounds awesome! The boards I monitor are all about hype news, getting a lambo overnight and "mooning" into oblivion. It helps to understand the charts and patterns but there is no value related to ICOs, project research or any kind of quality information about the tech behind.

I will try to find some peers online which are willing to do the work and research actual projects and share ideas, this sounds really fun! My friends and colleagues are far from investing and even further from investing into cryptocurrencies. Can't blame them tho, I don't think that many people in their (really) early 20s are interested in investing.


Edit:

I may be interested in this, how would I be assured I'd get my share of the tokens though?

I'm located in the EU so I can may help you out. If you or @JScott find a solution were you are risk free that would be great. I personally wouldn't trust a stranger either so it's smarter to have some kind of middleman action going on.

I reckon that I can sign up with your email address on ICO whitelists tho, so if I can help anyone of you guys out let me know.

 

[Coalission]

I can tell you right now that I won't be making any money in this -- but I won't be losing money either. And I'm fine with that.

So I just checked out CoinBase

 

[steelandchrome]

Here's a quick run down of what I've found..

- Enigma (Interesting platform. I signed up for the info and presale list but haven't received any info yet for exclusions)
- Omega One (Not available to US investors but looks amazing, I would be in on this one for SURE if I could).
- Science (Only available to max 99 accredited investors for ICO pre-sale unfortunately so not for small guys)
- Hero Token ( This one? --->) Herocoin: HERO ICO - Trustless Betting on the Ethereum Blockchain - Initial Coin Offering (Looks great IMO, Don't see any exclusions for us smaller investors... I will be giving this serious research)
Or this one --> HERO - The Future of Banking in Southeast Asia
- Kin (not too sure here... Maybe since I don't use KIK I don't get it)
- Sense Token (Interesting play on AI, I like it. No real details disclosed for qualifications yet that I see and is over a month out so plenty of time for research.)

Just FYI to save others hassle of looking up some of the ones with US or accredited investor status but obviously you are encouraged to do your own research.

 

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[steelandchrome]

I was joking about accepting anyone's money...while my group is all people who are straight-shooting geeky Silicon Valley types, we would never let anyone into the group who we didn't know well. We're doing pools of $500K - $1M these days, so I'd be an idiot to say there was zero risk (at those amounts, there's always non-zero risk)...though none of us are in a position where stealing $1M would be worth having to leave the country and start a new life...

That said, I am getting ready to do an ICO syndicate with one member of this forum who is starting one (someone I know offline and who is separate from my other group), so keep in mind the opportunity you guys have around you with this forum and the members here!

Thats awesome! I was thinking of another member who did a subscription based newsletter to follow his trades on the market that i was thinking would fit you perfect with your blog and crypto background. Crypto is so exciting partly because it is no new and all the people who have money but no clue would rather pay money to piggyback off others who are better informed than to learn it themselves.

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[AG356]

I'll warn everyone here not to trust anyone they don't know (and trust) with their cryptocurrency. While pooling money can be a great way to improve your returns with crypto ICOs and pre-sales, there is absolutely no recourse should someone just take your money and disappear. That's one of the big risks with crypto these days...

Exactly. Without any kind of regulations moves like this can cost someone a fortune. I've seen it happening on other boards and also strongly advice against it.

KIN

Got whitelisted for this one, but haven't decided if I like it. Like you, I don't really "get it"...

I think the hype around KIN is based on the already existing messenger app "KIK" which had over 300 million registered users in 2016. So the amount of exposure it will gather will be astonishing compared to other ICOs and newcomer cryptocurrencies. However I dug deeper and I came across a line in the whitepaper, mentioning that the first release of tokens will be one trillion out of 10 trillion existing tokens. I don't even know how this should work out to be honest.

Additionally the CEO stated that the ICO is a form of "exit" to provide a return for investors. To me it seems really fishy and I am not quite sure if they actually try to provide value or if they just want toride the crypto wave to strengthen their main business and to please their investors.

 

[germandude]

Can someone suggest where I can buy ETH via PayPal from Europe? I've been busting my a$$ the last hour reading and the one thing that was sure is coinbase, yet it won't work for me (says it doesn't serve my region).

 

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[steelandchrome]

Not something I'd ever be comfortable with...I don't want to be responsible for other people losing money...

That said, if someone wanted to start a thread on the Inside, I'd be willing to talk about my portfolio and some upcoming trades. Perhaps a thread where we can share info and ideas?

That makes sense.
I'd love to be part if that thread on the inside. I'm on my phone or I'd start a new one now but will later if someone else hasn't by then.

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[ZeroTo100]

What's the deal with Mark Cuban? The guy calls a bubble on Bitcoin and now invests in new venture fund. He also has an ICO coming Aug 31.

Has anyone heard of GBTC - Bitcoin Investment Trust? Seems like a decent way to get a little exposure to cryptos without the worry of people stealing your coins.

 

[Anon48331]

What's the deal with Mark Cuban? The guy calls a bubble on Bitcoin and now invests in new venture fund. He also has an ICO coming Aug 31.

Has anyone heard of GBTC - Bitcoin Investment Trust? Seems like a decent way to get a little exposure to cryptos without the worry of people stealing your coins.

i believe he was referring to the price of bitcoin was being in a bubble, but he does believe in the actual technology behind blockchain.

 

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[Conrad]

I tried webshops, marketing, flyer design, personalised gifts, tutoring, garage sales....I couldn't find a "job" so I had to do all the previous stuff to make money. My engineering degree is worth nothing in the "job market" where a low-wage HR dude decides about me. Usually these HR dudes know nothing about the job....

One day, my friend asked my if I can help him with the mathematics in crypto currency. Offcourse, as an engineer, you have some maths skills.

He learned me trading in 1 day! 1 f***** day, no months, no years of useless education!

Anyone can day trade these crypto currencies. Buy cheap, sell high, spread the riscs....
With some basic Excel and programming skills, you can even try different strategies, similar used in FOREX.

No customers
No headaches
No taxes (I payed >50% taxes)
No offices

...I'm planning my next travel, but first I need to make some more profit as a day trader.

As an engineer, I don't have a job. My FATHER still wants me to get a 9-5 job.... Poor Dad Rich Dad from R. Kiyosaki changed my life!!!

 

[AG356]

That said, if someone wanted to start a thread on the Inside, I'd be willing to talk about my portfolio and some upcoming trades. Perhaps a thread where we can share info and ideas?

Well, it was fun while it lasted.

 

[steelandchrome]

Well, it was fun while it lasted.

Don't worry, keep asking questions here and I'm sure you'll get some great insight. Or better yet pony up for the INSIDERS subscription and join the discussion there if it takes off. I waited about a year to get my INSIDERS membership and while I don't think I've taken full advantage of it I've read some great things in there that made it worth the fee.

 

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[Paul]

Honestly, don't know a whole lot about NEM. Certainly, the network has some benefits over Bitcoin (proof of importance is a big one), but at the end of the day, it's just an alternative network/currency without a lot of upside product upside to it. Bitcoin has first-mover advantage and popularity; Ethereum has the benefit of being a developer platform.

While the market cap of NEM is low compared to Bitcoin and a couple others, it's high compared to most of the industry. It seems to me that it would have to replace Bitcoin as the defacto online currency for it to gain much additional market cap.

That said, this whole space is crazy (and crazy complex) right now. So, there could be a things I'm missing, or my assessment could just be completely wrong. So, especially for NEM, which I know very little about, don't rely on my evaluation to influence your investments.

I think I'm in a good position to provide some insight into NEM since I've done quite some work with the platform and I'm also giving talks about it regularly. But I'd also recommend checking out the new website that launched a few days ago since it explains pretty much all advantages with great detail: NEM – Distributed Ledger Technology (Blockchain)

Right now NEM is by far the cheapest platform to develop asset solutions on. This holds true in terms of transaction costs but more importantly also in terms of development time/costs:

1. Transaction Costs
You can send $6000 worth of XEM (trading symbol for the native NEM asset) for $0.015. This ratio will stay, even if the price rises. And it's the same for your own token. Transacting higher quantities will of course also be more expensive but still extremely cheap in comparison with other platforms. You can read more about the latest fee changes here: NEM Beta 0.6.93

2. Development Costs / Total Cost of Ownership
You can issue your own token on the NEM platform in less than 5 minutes and it costs less than $130 to do so. The whole platform is accessible via REST APIs, meaning that if you have any kind of API experience, you're ready to become a blockchain developer. Also, you have great on-chain capabilities such as a smart multisig-solution (the most popular smart contract for Ethereum). This feature just works out of the box and more native features like this will be introduced with the upcoming update.

I could probably go on for a good hour about the ease of use and ease of development but I suggest that if you have any specific questions about it, just ask and I'll reply.

Also, the NEM foundation is run in an extremely professional way under the leadership of a serial entrepreneur (Lon Wong) and that shows. The first NEM blockchain centre that will teach developers and host startups has been opened in Malaysia this week and the NEM Europe HQ and NEM North America HQ are currently being set up.

 

[Jose L. Nimmons]

For me, it comes down to basics: there are enough people (investors) with enough belief in this technology to be widespread. Companies are part of this optimism; and Ethereum has enough innovation potential that it could be the backbone of technology we use daily. At a current $23 billion market valuation (total sum of its “tokens” and their value), there’s lots of room for growth if it becomes even half of what some think it might.

 

[Inos]

After reading this thread from start to finish over the weekend, I am completely drained, mainly because many of the posts reminded me of my (long gone) high school days, sitting down for six hours straight, trying to assemble a winning ticket consisting of 25 football matches that would turn my hard earned 2 euros into an early retirement. Well, as you can tell, I'm still here and I blame Arsene Wenger.

IMO, picking out the winners from the tornado of up-and-coming coins and tokens is no different than betting on horse or greyhound races, except maybe your mom doesn't start crying when you tell her how you spend your days. Speculation can become addictive and eat up so much of your time and mental capacity, while creating zero value.
The blockchain, however, will change the world.

 

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[Paulli]

After reading this thread from start to finish over the weekend, I am completely drained, mainly because many of the posts reminded me of my (long gone) high school days, sitting down for six hours straight, trying to assemble a winning ticket consisting of 25 football matches that would turn my hard earned 2 euros into an early retirement. Well, as you can tell, I'm still here and I blame Arsene Wenger.

IMO, picking out the winners from the tornado of up-and-coming coins and tokens is no different than betting on horse or greyhound races, except maybe your mom doesn't start crying when you tell her how you spend your days. Speculation can become addictive and eat up so much of your time and mental capacity, while creating zero value.
The blockchain, however, will change the world.

Arsene Wenger is so easy to blame for our ruins these days, it pains me to say it!

I had to remove the Blockfolio app from my phone for reasons similar to what you've stated, the mental drain of checking and rechecking prices was unbearable.

Apparently the Kick ICO from last night was hacked, or there was atleast a solid attempt at it.

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[Jake]

What's the deal with Mark Cuban? The guy calls a bubble on Bitcoin and now invests in new venture fund. He also has an ICO coming Aug 31.

Has anyone heard of GBTC - Bitcoin Investment Trust? Seems like a decent way to get a little exposure to cryptos without the worry of people stealing your coins.

Yes, it's somewheres around twice the price of the underlying asset though..I.E you're paying over $8000 for exposure to 1 bitcoin with ongoing management fees.

Regarding Cuban - Mr. Wonderful is probably laughing his head off. He told everyone to pay attention when the market cap exceeded $1 billion.

Here's the vid if anyone is interested

View: https://www.youtube.com/watch?v=6cZGF6h-2Uk

 

[MJ DeMarco]

This tech has been a pretty big discussion in the finance and entrepreneurial world -- kinda like a merging between the two -- I should probably take some time to learn about it if I run a forum that is heavy into the convo.

Aside from that, I've been around long enough to recognize a pattern of emergence, from "plastics" to "internet IPOS" to "mobile apps", it's the new big thing. And big things make people rich. I can see the front page of Business INSIDERS now... "Joe Schmo buys $180M Beverly Hills Mansion" and the inevitable question of "what does he do?" is answered with "bitcoin entrepreneur."

But then again, my investigation into this might signal the top of the bubble -- at this stage, I'm a late adopter and dumb money.

 

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[Driven28]

But then again, my investigation into this might signal the top of the bubble -- at this stage, I'm a late adopter and dumb money.

I wouldn't be so sure about that @MJ DeMarco ...
Sometimes it's easy to overestimate the current stage of these trends, especially when you're so close to them (or the people who are), because you're hearing about it so consistently.

In terms of tech "age" though, it's still incredibly early.
An INSIDERS at the recent Blockstack Summit 2017 gave a talk where the age of blockchain/crypto as they stand right now was compared to the days of HTTP & TCP/IP in Internet years. Which I personally think is spot on.

Take the age of the tech, the insane volatility of crypto in general right now, and the race for understanding and regulation worldwide, and you've got yourself some incredibly massive opportunities all around.

I'd say get involved and pick the niche within the industry that interests you the most after doing some research.
With your influence and leverage, you could probably make a pretty massive dent somewhere.

EDIT: Article mentioned above, for reference:
The State of Cryptocurrency: Mid-2017 Edition – Hacker Noon

 

[GIlman]

Maybe I missed it, but it seems people are focused on Ether as a cryptocurrency, but this really misses the point of Etherium and Ether.

Etherium is a block chain of programmable contracts. Ether is the "Fuel" you have to spend to use these contacts on the network - think of it as what you pay to host the contract. The more complicated these contracts, the more processing required, the more ether you have to expend to process the contract.

This penalizes people for writing sloppy wasteful contracts, and also ensures the chain does not get bogged down in an infinite loop from a buggy contract. If a contract runs out of gas it's halted.

If your building a dApp on Etherium, say like an uber app, the funds do not have to be exchanged from rider to driver in ether. You could (and porbably would) setup your contract to exchange USD. The smart contract contains the terms for what must be offered and how the money would be secured and exchanged. Basically the contract is acting as an Escrow agent.

However, each time the contract is evoked, you have to exchange ether for the right to use the distributed network. Therein lies the basis of any value in ether. You need to acquire it first to be able to use the network for your app.

 

[Jake]

I haven't kept up with all the new ICO's but why do they need to exist?
Care to brief me up? Are they simply IPO's or are new coins created i.e a new currency tied to a new company of sorts? And if new coins what is the point of them to exist over colored coins on the bitcoin blockchain?

As a longtime bitcoin supporter (that kicks his own a$$ for not trading 1 BTC for Ethereum when it was simply a white paper) what are all these ICO's about?

 

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[Alxander]

I haven't kept up with all the new ICO's but why do they need to exist?
Care to brief me up? Are they simply IPO's or are new coins created i.e a new currency tied to a new company of sorts? And if new coins what is the point of them to exist over colored coins on the bitcoin blockchain?

As a longtime bitcoin supporter (that kicks his own a$$ for not trading 1 BTC for Ethereum when it was simply a white paper) what are all these ICO's about?

Right now most ICO's are about hype and speculation where 90% will fail, but if you got the right one, you go TO DA MOON!!!

So you basically buy a stock in a company, but that stock can be used as currency inside the platform of that company.

With Steemit you get STEEM coins (with upvotes) for writing articles, where some people earn over 1000$ worth of coins per article.

Why use their own token? Cause if you want to earn money with writing articles normally, you must use ads as monetization!
But instead you get a magical coin that's spread out over multiple computers (the articles also), much better than paper

 

[steelandchrome]

This tech has been a pretty big discussion in the finance and entrepreneurial world -- kinda like a merging between the two -- I should probably take some time to learn about it if I run a forum that is heavy into the convo.

Aside from that, I've been around long enough to recognize a pattern of emergence, from "plastics" to "internet IPOS" to "mobile apps", it's the new big thing. And big things make people rich. I can see the front page of Business INSIDERS now... "Joe Schmo buys $180M Beverly Hills Mansion" and the inevitable question of "what does he do?" is answered with "bitcoin entrepreneur."

But then again, my investigation into this might signal the top of the bubble -- at this stage, I'm a late adopter and dumb money.

I think it makes sense to look at who is the main "customer" for cryptocurrency investing. I see a huge millennial crowd that trust investing in it and wouldn't touch the stock market with a 10 foot pole. Also most of them are following the "HODL" strategy to buy and forget for a few years and keep buying small chunks each month as they have extra money available. This is the "dumb money" that will keep the train going at a minimum on its own for a few years. If you watch videos on youtube you'll see if you invested $1k each into the top 10 coins a year ago that $10k would now be worth $225k+ and thats going to flood the market again with more buyers willing to hold on for long term gains. While I doubt the market as a whole is going to have this same crazy trend I am positive there will be the big ones who truck higher and higher and then a few speculative plays that are more than a generic ICO that will have huge returns. If you go in blind and randomly throw money at each new coin I doubt you'll have any fun or luck but if you play with it and do some basic research you'll have fun and make some good returns. I threw $5k into cryptocurrency last week and have made $900 on it in that week which performed much better than the $90k I have invested in the stock market during that same time.

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