More than 3 Years from this post. No more posts since then…
625 Votes received, 0 votes done…
Around 4000$ a day at 100% VP…
I can think of a few ideas that @steemit could do with that Voting Power, such as rewarding the best promoter of steem outside the blockchain for instance… I think more than one professional would come delighted and work on a good marketing plan …
while you dedicate yourselves to continue selling your stake.
I wanted to talk a bit about my currently most disliked cryptocurrency.
>Trx.
I have talked a bunch about various shitcoins like BSV lead by a crook and liar. Ethereum Classic that has nothing to justify its price, having little to no dapp use along with the double spend fiasco they suffered.
LISK has a similar problem as well with almost nothing of consequence built on it. Most of these cryptocurrencies have nothing to offer in terms of mass adoption and yet they are highly rated in the crypto space.
But this is about Tron. In my mind they have surpassed Dogecoin as the king of shitcoins.
Its important to state all these cryptocurrencies have some intrinsic value simply due to blockchain technology but at this point in time with major tech development happening, “just being a crypto” does not cut it.
The biggest problem tron is facing is the utterly terrible quality of transactions happening on that chain that open the question of
>”who is it that uses Trx and for what purpose?”
I looked at the dapps listed on State of the dapps for Tron and i found a very interesting thing. 70 of the top 100 dapps listed at the time i looked were either high risk games or simple gambling. This is where the vast majority (id go even as far to say “almost all”) of use of the Tron blockchain comes from. Bot scripts programmed to run bets ad nauseum.
Basically transaction spam.
The problem with gambling dapps in this case is that i dont think a single one of these dapps has any kind of licence to conduct gambling and the people behind them are generally completely anonymous.
This opens users to all kinds of problems. Customer abuse. Susceptibility to exit scams and schemes.
And in the case of the business models of gambling dapps, users are essentially partaking in a:
Most of you are familiar with the exit scam done by @magic-dice and how they essentially robbed users that thought it was a solid idea to treat gambling as a solid investment strategy, due to the promised dividend payouts from Magic Dice. @themarkymark, one of the bigger investors in Magic Dice talked about the exit scam they pulled a few months ago. His post really shows how you can easily find yourself in a vulnerable position and can be left with very little, or none at all, ability to react.
Magic Dice didnt come up with that business model. It copied it from many Tron and EOS gambling dapps.
How it works is pretty simple. A gambling dapp launches its own token. Gamblers spend money and get the gambling dapp token in return. Holding that gambling token gets you a part of the earnings that the dapp earns.
Pretty straight forward. But…. What people tend to forget is that
>The player base is always the loser.
People will play a few games and quit unless they are addicts ofc and since the player base coming from crypto communities is small, making gambling seem like an investment further incentivizes gambling.
If you did the math on the token emission of Magic Dice tokens, the time to break even when taking into account reduced emmision over time (which can discourage late comers), the house edge, the time to break even for anyone not coming in early was extremely long.
At one point the big “investors” must have realized that they were playing against themselves. The spending by smaller accounts was insignificant compared to their own and they were continuously losing.
The only way for their investment to be profitable is if more suckers after them thought that they would become rich by “investing”, because some other sucker after them would think gambling is a good investment and so on… All that while the emission was being reduced and their stake slowly but surely diluted if they didnt keep playing, with no sink to speak off coming.
> A pyramid scheme is a way of making money that cannot continue very long. It involves promising people payment, services or ideals, primarily for enrolling other people into the scheme or training them to take part. It does not supply any real investment or sale of products or services to the public. .
Steem has for most part gotten rid of Gambling. There are still a few dapps out there like @epicdice which i sincerely hope users will avoid and research thoroughly. You will not only lose due to the house edge, you are open to losing much much more if you start looking at gambling as an investment.
That brings me back to Tron. When your blockchain is completely dominated by such business models and activities, when most of the transactions come from what is essentially a criminal activity what other description can you give to TRON?
More than three years have passed already since that one investor called Ned Scott and the BitShares creator Dan Larimer, founded the Steemit platform, built on top of the Steem blockchain.
Since then, we have seeing the deployment of many HardForks developed by the Steemit team and supported by our witnesses, some of the HF were really necessary but some others just put us on the place we are now at the market in my opinion.
Also, for me it is clear that the permanent “drainage” of the “Ninjamined” Steem which is being transfer to the exchanges with the same frequency, is clearly “ballasting” our blockchain to the most unsuspected depths of the market in terms of price and capitalisation.
From being a total needed company in order to sustain the Steem blockchain and its development, Steemit INC has become a problem for us in order to recover from a very painful a long bear market and this situation does not look to get better in the mid-term since there is no plan, according to my knowledge, that would indicate a “release” of the selling pressure by the @steemit side.
Even if they have recognised lately that they have cut their infrastructure cost with MIRA and other technical improvements, and also they implement another source of incomes by the use of advertisements on site, they are not really planning to stop or at least “smooth” a little this constant drainage.
In my opinion, this behavior is also affecting the number of DApps being built on top of the Steem Blockchain…I remember 2 years ago when the trend page was full of new ideas and projects proposed from developers… how may we have now?
I think the best development lately has been the STEEM-ENGINE and TRIBES Token+Interface placed by @aggroed and other excellent, not only developers but also investors here. I really appreciate them.
In the meantime, STEEMIT has become the BIG SELLER of the blockchain and not the entity that everyone would expect in order to further develop and improve the project.
What is clear is that, under the point of view of the regular steemian, Steemit INC seems to provide more problems than solutions…
I know, yeah, more than two years being an active member of this blockchain has taught me that STEEM IS NOT STEEM…so, don’t tell me this anymore or… I will downvote you (LOL), of course I’m joking…
These are questions for you, my prefered witnesses:
@abit
@actifit
@aggroed
@arcange
@blockbrothers
@cervantes
@coingecko
@cryptopassion
@curie
@dragosroua
@drakos
@emrebeyler
@fyrst-witness
@good-karma
@gtg
@holger80
@klye
@lukestokes.mhth
@mahdiyari
@partiko
@pharesim
@quochuy
@roelandp
@steemitboard
@steempeak
@steempress
@swisswitness
@themarkymark
@therealwolf
@yabapmatt
Genaro Network (Huobi: GNXBTC) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, GNX began a wave one advance on July 4. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 6, and the red wave two (blue sub-waves a-b-c) correction ended on July 17. If this wave count is correct, GNX should be heading next towards the July 6 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
The Genaro Network is a smart data ecosystem with a Dual-Strata architecture, integrating a public blockchain with decentralized storage. You can watch their intro video below.
(Sources: Genaro Network and YouTube)
How can I vote? Where is the contest?
You can vote by following this link.
Sorry guys….
It was too good to be true…
Thanks to @chesatochi I realized that steemworld is shown differently if I check @steemit using chrome or using firefox…
If using firefox I get this:
if using chrome I get this:
Perhaps I clicked on the “x” and I have permanently closed the pop -up window at Chrome… don’t know…
…but @whatsup was right… Seems that “they have no plans of changing their selling rate yet.“
I’ve been Too Fast Eddie…
Man! I cannot believe what I have discovered a few minutes ago!!!!
@steemit has stopped its eternal POWER DOWN!!!!!!
Go to steemworld and check and tell me if I am wrong here!!!
@toofasteddie
When Whaleshares started up many hated it, many were skeptical, many called it a steemit clone. But im someone that likes giving projects the benefit of the doubt. I gave it a shot and for a while things were going ok. There were promises of massive development, of some kind of secret update that would change everything (still dont know what that is) so i stuck around.
I did my best to talk positive about Whaleshares and to be part of the community and for most part it was enjoyable. I met some great people and some not so great ones but overall the positive camp was much bigger.
Whaleshares in a couple months will be 1 year old and looking back i cant say i see them ever achieving much. There was a lot of promise, there were passionate people involved, there was a solid ground to build upon and a solid idea…
But unfortunately passionate people and solid ideas does not necessarily translate into success.
Lets be honest here. When Whaleshares came to be, it came to be from a few disgruntled individuals that thought they could create a better Steemit. A fairer community with better token distribution and rewards for the best contributors. They thought they would eliminate bots and vote buying..
They were wrong.
They failed so badly that they didnt achieve any of that. Vote buying turned into whaletoken purchases on Bitshares and the fairer token distribution went down the toilet with “curation projects” like V12 lead by Scipio that would basically vote up a post with a small percentage and then upvote the comment on the post in question of the V12 account saying: “You got curated!” (Im paraphrasing) with a full vote.
Then you had guys like Haejin or Vladimir self voting just like on Steemit and nothing was being done about it. Now i dont know if they are still on Whaleshares. I dont care to look but a month ago when i last dropped by that was the case.
The problem with some Whaletokens (Not all allow trading) is that the purchase of a vote would get you around 2 times more WLS then if you purchased WLS directly. This ofc acted as a downward pressure on the price.
What some people did, and what i did for a time is simply sell the WLS i get from powering down, purchase the vote and then again just sell the WLS.
Bam! You just made a 200% return on your purchase and that just compounded over time. All you need to do is repeat this over and over. There was no point in buying WLS. Only selling it.
So those are 2 things..
The biggest issue though, i will talk about next is the behavior of the people heading the project. Again, i have to repeat, the devs in charge are really nice people and i cant say a single bad thing about them in terms of their actions towards me nor have i ever seen them act unfairly to anyone.
But…. i have to touch up on the most important thing which is why im basically done with Whaleshares for now…
<
I have discussed this issue with the devs in the Whaleshares chat, DMs and on chain on a number of occasions and the responses i got were extremely discouraging and showed me a complete lack of understanding of how the crypto market works along with an irrational fear of leaving their small corner of Bitshares.
I will not name names but you can always find the conversations in the Whaleshares discord chat or on chain if youre interested.
I have talked to a number of people and the strange thread of thought they had is the following:
>If WLS gets listed that will lead to whales taking control of Whaleshares and then they can dump WLS and that will destroy the price.
The feeling i got from this is that they want to live in a bubble hidden from the world. They fear they will lose control if investments come in.
That was very strange to see because the price has already tanked by 99.1% in 10 months. (now at $0.003 from a high of $0.33). The smaller your market cap is, the easier it is for anyone to manipulate the market. Someone with a few thousand dollars could do it. Without money coming in all you have is WLS going out, votes being purchased and the price tanking even more.
It seems to me that the unreasonable fear of the market, the fear that Whaleshares will end up like Steemit (in their minds) is the downfall of Whaleshares and WLS.
It is a sorry thing to see from a project that had potential. Sorry even more so because those are some good people there that put in work and dedication to create something “better”. Unfortunately their mindsets are not well suited for success in the world we call crypto.
Just a few thoughts and ill see you guys later.
Origo (Huobi: OGOUSDT) has broken out of the triangle pattern in the four-hour chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, OGO began a wave one advance on July 4. The red wave one (blue sub-waves i-ii-iii-iv-v) finished on July 8, and the red wave two (blue sub-waves a-b-c) correction ended on July 17. If this wave count is correct, OGO should be heading next towards the July 8 peak in the red wave three.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
Origo is a privacy preserving platform for decentralized applications. You can watch their latest AMA below.
How can I vote? Where is the contest?
You can vote by following this link.
…because in order to know if the bottom of the correction was IN, we have to see first BITCOIN over-passing clearly the 11000 USD level:
…and to do so, we need VOLUME!!!!
Essentially I would like to see a “balance” in the 24 Hour Volumen between TETHER and BITCOIN:
…as you can see, still there is a difference of almost 3Billion there…
The GOOD NEWS is that ALTCOINS are probably being feed also by TETHER since 87 out of the top 100 coins are in GREEN, by the way, also STEEM which is really a new NEW since we used to be stagnant while BITCOIN rises!
Enjoy and take care!
@toofasteddie
Disclaimer: This is just my personal point of view, please, do your own assessment and act consequently. Neither this post nor myself is responsible of any of your profit/losses obtained as a result of this information.
InvestDigital (Huobi: IDTBTC) has broken out of the triangle pattern in the daily chart.
(Chart courtesy of Tradingview.com (log scale))
Elliott Wave Analysis
In Elliott Wave terms, IDT began a wave one advance in December 2018. The red wave one finished in April this year, and the red wave two correction ended in May. The red wave three advance finished in June, and the red wave four correction ended on July 12. If this wave count is correct, IDT should be heading next towards the June peak in the red wave five.
(Chart courtesy of Tradingview.com (log scale))
Funnymentals
InvestDigital is the asset management protocol and toolset for crypto assets, and it is implemented on EOS blockchain. All the InvestDigital products are listed below.
(Sources: InvestDigital)
How can I vote? Where is the contest?
You can vote by following this link.
