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Author Topic: Using Bitcoin  (Read 1650 times)

preppoker

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Re: Using Bitcoin
« Reply #30 on: November 19, 2017, 03:14:01 PM »
Sorry guys, we're already oversubscribed. 

Currently just have a corp # but will be called MewnMiningCorp at some point in the near future. 


The Loose Goose

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Re: Using Bitcoin
« Reply #31 on: November 21, 2017, 04:46:15 PM »
Agreed that Bitcoin was never intended for micro payments, from how it's reward system is setup to the rigidness of 256Sha.  However, I don't know if we really understand the potential of the off chain solutions to come.  Long-term yes, if I had to say one way or another, I'd bet against BTC for this, but I think we are a ways off from having any solution embraced by masses, trust and market penetration takes time. 

In the meantime, BTC likely scales to larger ticket item transactions such as houses, cars, and so on at the consumer level.  And, will continue its charge as a store of value to who knows, an eventual currency reserve replacement for the US dollar?  Not suggesting this will happen, just that is possible.

I don't really understand the linking blockchain comment.  Btc through atomic swaps will be able to do this (perhaps more limiting or inefficient than other project potential?).  But, comes back to the same thing, why will that be important?  That precludes the need for a shit ton of blockchains for that to be of value. When the smoke clears we may simply have a few tokenized blockchains serving a few purposes: inflationary, deflationary, and reward, for example.  All products and service functions will be built on these main chains, developers will expand on them and the now perceived 'niches' will be cobbled up because of the network externality effect is most important > nobody uses your network its worth shit.  I mean there is a reason M/A and consolidation keeps growing in the real world. 

Guess the new and greatest will keep stepping up and eventually something paves the way.  Will need a lot more than fast and cheap like Doge.

Regarding the comment about Africa, South America, and Asia, market acceptance for a micro payments structure will be quick there.  Many 3rd world countries don't have banking structure, but they all have cell phones.  Transacting on a phone using biometrics and other security makes more sense than humping around cash waiting to get robbed.  Look at OMG.  It has made some serious inroads in some rather impoverished regions of Asia.

Anyway, enjoy the comments, feel free to critique, I enjoy other's viewpoints.  Don't think anyone really has a full handle on this space, most of all me.




The Loose Goose

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Re: Using Bitcoin
« Reply #32 on: November 26, 2017, 07:56:46 AM »
Hey Guys,

A little bit of a long shot but wanted to use this vessel to see if there were any skills out there that might be interested in looking at a possible biz opportunity.

I feel that 2018 will be a great opportunity for 'speculative mining'.

Speculative mining means mining coins in their infancy, with hope that at a future date they will be worth a lot more.  Picking the future winners amongst the heaps of new 'startup coins' is not an easy task.  After all, 95% of the new coin offerings will not go anywhere.  One must assess the value of the tech (blockchain replication > does it work as suggested?), the coin structure (Pre-mine vs public float), use case (including competitor analysis - legacy/other coins, barriers to entry and so on), HR team behind it, most importantly the developer team, the size of the network in its current form (transactions per second?), hype through marketing channels as so on  This requires putting together a list of screeners and match them against each other to see what has the best shot.  Then one must look at the POW (proof of work), how is the mining reward system setup?  Factor things like Master Node incentives, airdrops and so on. 

If you can pinpoint good projects with a profitable mining structure, the idea is you mine it, hold it, and sell to the markets on exchange at the proper time. 

Because you are inventorizing coins for a period of time, actual operational costs will have to be funded out of pocket until such time you sell coins for profit.  This goes against most mining enterprises that simply off load price volatility and sell at first change, use those funds to grow operations.  I could ensure this latter part isn't an issue and can provide the trading skills to provide a leg up.

I'm looking for a full stack lead developer who has or has access to the following:

UI and UX Designer
Reverse Engineer
Open Cl/CUDA developer
+ backend developer
and in an ideal world Bitcoin/Eth developing experience

Bit of a tall order, but even without crypto experience, this pooled skill set could spend some time learning this space, including properly break apart the mining operational requirements/risks and so on and could develop what I think is a very profitable business.

If you are or know anyone who may be interested have them PM me. 

Cheers

preppoker

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Re: Using Bitcoin
« Reply #33 on: November 27, 2017, 09:32:58 PM »
We explored this route and it's simply just one of the least profitable, highly volatile ways of mining.  The space is changing way too fast so having someone evaluate and determine which coins have potential growth but may have lower mining rewards is going to be damn near impossible and you'll never grow to be big enough to where you can influence that coins market. 

You're better off taking a developed coin hopping and pool hopping algorithm , applying some basic trading practices and then firing a large portion into ICOs and getting giant token bonuses.  At least with the latter you'll have some influence on things like hard cap for the raise( if you're firing big enough ) and potential to be on some advisory boards and potential for other ICOs to approach you to mine their tokens. 

Believe me when I say we've run ALL the different scenarios with different reinvestment strategies, growth potential, exit strategies etc. 

Also probably way better to just out source any development work you're going to do. 

krampster

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Re: Using Bitcoin
« Reply #34 on: December 11, 2017, 01:35:48 PM »
Been putting some money into litecoin lately. It?s just starting to spike. From what I?ve read this is a good long term buy and hold
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