[NewDayNewFace]

I hold less then 10 coins but one of my sleeper coins that I think can be very huge is the Golem token. Their idea is very disruptive.

The below is from the BTCTalk thread

-----------------------------------


Golem | Introduction
The Golem Network is an accessible-to-everyone, distributed, supercomputer that reduces costs (sometimes by over 10x) of scientific research, big data analysis, graphics rendering, machine learning, AI… just about anything that requires heavy computational power. Those why buy computational power off the Golem Network are called Requesters.
All while bringing CPU cycles into the sharing economy so anyone with a computer can rent their computing power out on the Golem Network and make an automated income. These people are called Providers.
It also provides software developers and owners of software (including microservices & dApps) a decentralized medium for distributing and monetizing their software. Software hosted on the Golem network will never experience downtime, cannot be DDoS’d, and will usually be cheaper than running your own servers.




Golem’s alpha is already live and operating on the Morden testnet. You can get access to it here: https://github.com/imapp-pl/golem

---

Golem | Whitepaper
Click here to download the Golem whitepaper: http://golemproject.net/doc/DraftGolemPr...epaper.pdf
Contains in-depth overview of the Golem Project, the team, and a roadmap.

---

Golem | Resources
Website: golem.network
Slack: golemproject.org:3000
Twitter: twitter.com/golemproject
Facebook: facebook.com/golemproject
Reddit: reddit.com/r/GolemProject/
QQ: 348383097


-----------------------------

Pretty much think if you can use someone else computers processing power while they are sleeping or not using it. I think this is a big project and they have close ties to OMG (which I am also invested in). They have missed deadlines on some of their timeline dates but once they get back on track I think this is a great long term hold.

What do you guys think of Golem?

[RatInTheWoods]

Imagine all the idle cycles of connected processors out there..

If clever software could make use of them,it could be trasformational.

[SamuelBRoberts]

Golem will turn into an actual golem and stomp through the streets of the city before it hits ATH in bitcoin again.

WNI Would Not Invest.

[NewDayNewFace]

Can I get an explanation why?

Do you even know the technology that they are trying to achieve?

[SamuelBRoberts]

Quote:

Can I get an explanation why?

Team has problems. Brass delayed for months (Original launch date was MAY and it is now OCTOBER). Actual implantation very likely to underwhelm. Several solid competitors with less problems (iEXEC has a good team lead by some Chinese researchers, there's the perennially underperforming XEL, I believe there are several others). On top of that, Cryptos perform best when they're very far from release, and have no actual use case, because then people buy into the fantasy. Look at WTC this weekend, which does nothing and went up like 200% or 300%, same with NEO and QTUM. Or hell, look at ETH, there's barely anything you can do with ETH right now beyond buy ICOs. On the other end of the spectrum you can see Library Credits, which is a completed product with a real use case... and is performing at something around 20% of its bitcoin ATH when I looked earlier this evening. Golem is getting close to working product, that working product is likely to be buggy as fuck and have very few actual buyers, and it's going to be an absolute disaster. Even if it's not a disaster, it's not going to save it.

I'm sick of people shilling shit-tier investments here. First IOTA, which is probably the single worst long-term buy in the top 30, and now this thing. It's one thing to shill them to other crypto buyers, who are expected to DYOR as a general rule, but it's another to be shilling them to people in this forum who aren't informed purchasers. You're talking about these things like they're great, nifty ideas, and maybe they are, but you aren't putting the big, important thing in bold: they are TERRIBLY performing investments, and anybody who invests in them is likely to lose a lot of cash. You're going to be costing people money doing this shit, and it needs to stop.

Quote:

Do you even know the technology that they are trying to achieve?

I know their tech. I know their marketcap (200 mil). I know their competitors marketcap (way less). I know where they stand in relationship to their 200 daily (Less than half. OUCH!). I know that they're trending downwards below the 50 and 20 daily. I know that their marketcap is less than half of what it was in June. I know why that's significant. I know that daily volume is .5%, of circulating supply, which is ATROCIOUS. I know that their most active market isn't 'trex or even polo, but LIQUI, which is a sign that everybody has just given up on the damn thing.

Here's how your "long term hold" has been performing over the past few months by the way... (Using CMC data for sat values but converting to present day USD/BTC just to keep things simple.)
June 1st: ~85 cents a token.
July 1st: ~85 cents a token.
August 1st: ~35 CENTS A TOKEN
September 1st: ~30 CENTS A TOKEN
October 1st: ~30 CENTS A TOKEN

If you were to have bought 1000$ of Golem in bitcoin back in June, you would now have less than 40% of it left compared to just keeping it in bitcoin. A greater than 60% loss in just a few months. That's worse than than the 2008 crash.

I'm sorry to bite your head off over this, but I think I need to make it as absolutely, 100% clear as I can to the rest of the members here. DO NOT BUY ANY GOLEM. YOU WILL LOSE LOTS OF MONEY.

For anybody who's interested into going into Crypto, you can either be prepared to do a shit ton of research, or just DCA into Bitcoin as described in the link in my sig. You can also try the "buy into popular ICOs and then flip them" strategy that's detailed elsewhere in the forum, that's got its own risks, but it's pretty safe for now. The days of stupidly easy pumps are gone. Crypto is a different animal now. You can still make a lot of money, and you can still have a lot of fun and learn a lot of neat things, but you aren't gonna turn 1k into 100k by investing in projects on the theory that they sound neat.

If you really really want to buy a crypto that isn't bitcoin, get litecoin, or maybe get PART like Isaac Jordan suggested back in the day. PART's risky but it's not overvalued, it's not subject to wild fluctuations (It only lost 40% of its value at one point, which for Crypto is pretty good!) and it doesn't have a giant mountain of bagholders waiting to unload on you like GNT does.

(BTW if anybody is interested in some interesting cryptos PM me and I will give you a couple, with the understanding that these are extra extra risky investments, and that you will very likely lose all your money on them, and that I will take ZERO RESPONSIBILITY for it.)

[Stun]

(10-01-2017 04:27 AM)SamuelBRoberts Wrote:  

a giant mountain of bagholders waiting to unload on you like GNT does.

^ This part. There are soooooo many people who bought GNT at $0.50 or .60 and are bag holding it. A buy signal for me would be if it went near or past ATH (around .70 or something)

[NewMeta]

I bought some when it was worth 21 cents and instantly regreted it, I got lucky and managed to unload my bags at 31 cents cause it pumped when they did a presser with OMG. It actually spiked to 50 odd cents in the end but I was just happy to exit at profit.


Here is the best case I can make against GNT, this is Aleksandra Skrzypczak their "Lead Software Engineer":



This was her before her corporate IT job:



From a sweet Polish WB to an ugly degenerate WNB Skrillex haircut, tat, corporate drone combo.

Would you invest?

[NewDayNewFace]

This forum is for discussion. I don't know why you feel so offended because I posted about Golem. For me I invest in blockchain to make a good ROI (who isn't?). As I mentioned before this isn't the ICO that will make you big bucks now but I said it's a long term hold. Which means that it'll take some time for you to make money.

Both of you guys have valid points and that's what this forum is for discussion. No problem with that. But to say I'm shilling? I bought the majority in at Golem at 24 cents. I honestly don't think it can get lower then that. They also partnered with OMG; OmiseGo has big ties into the Blockchain community. If they can use their ties and be the first to accomplish what they are trying to do then they will be huge.

Their 24 hour volume is still big enough that you sell a big portion of Golem unlike other ICO and since January they have done a 27x which is better than Litecoin, Bitcoin, Eth Classic, and Monero. I'm not saying that Golem is currently better then those but with the potential this can be a huge play. You can't ignore that.

NewMeta thanks for the response without accusing me of shilling. I didn't know that about their lead engineer.

[SamuelBRoberts]

(10-01-2017 08:05 AM)NewDayNewFace Wrote:  

This forum is for discussion. I don't know why you feel so offended because I posted about Golem.

Saying "Guys I've got this great investment that's a wonderful long term hold!" without out including the fact that "It's lost 60% of its value in the currency it's primarily priced in!" is a shitty thing to do to forum members.

Quote:

For me I invest in blockchain to make a good ROI (who isn't?). As I mentioned before this isn't the ICO that will make you big bucks now but I said it's a long term hold. Which means that it'll take some time for you to make money.

This isn't "it will take some time for you to earn money". There's good odds that another nasty shakeout will shatter the current support level and send it even lower, and it won't ever come back up. Look what's happening to STRAT, right now, this morning. If it goes significantly below 100k it may very well never come back. Same thing could easily happen to GNT. GNT is a TERRIBLE investment.

Quote:

They also partnered with OMG; OmiseGo has big ties into the Blockchain community. If they can use their ties and be the first to accomplish what they are trying to do then they will be huge.

OMG is a payment settlement platform that you can use at McDonalds in Thailand. It's a neat project. It's cool that it has the government backing it does. I wish them well and have recommend them in the past to people. Golem was one of the original DAPPs. They don't have ties to the blockchain community, they ARE the blockchain community. If they need the Thai payment processor to help them finish and promote their product they're doomed.

Quote:

Their 24 hour volume is still big enough that you sell a big portion of Golem unlike other ICO

This is true for literally almost any coin on Bittrex or Polo.

Quote:

and since January they have done a 27x which is better than Litecoin, Bitcoin, Eth Classic, and Monero.

Past performance is not indicative of future results. For altcoins like GNT, past performance is often a sign that future results aren't going to materialize.

Quote:

I'm not saying that Golem is currently better then those but with the potential this can be a huge play. You can't ignore that.

I didn't ignore it, I gave you two paragraphs of reasons why the coin was a bad buy.

[NewDayNewFace]

Great, I get your point. I'll still hold on to these "bags". Technology is amazing to me and I'll support them.

[SamuelBRoberts]

Hold on to what you want. God knows I've bought stupider stuff.

Just don't shill it to people.

[NewDayNewFace]

^^ I've bought into Populous bags. Glad I got rid of that crap took a loss on that haha.

[SamuelBRoberts]

Just looked at populous's chart. Talk about something where the hype just died. Oww.

That's why I don't like chasing pumps. You were right not to baghold it.

[SamuelBRoberts]

SONM. SONM is the other competitor I forgot.

SONM's interesting.

[yaku]

I don't think Golem has partnered with OMG. They are in the same building, but OMG specifically stated at their joint conference that they weren't involved with Golem.

[SamuelBRoberts]

I think I've mostly made my point, but just to kind of hammer this in, Golem Tokens have lost 4% of their value since the time OP's first post went up last week.

[Transsimian]

(10-03-2017 12:07 AM)yaku Wrote:  

I don't think Golem has partnered with OMG. They are in the same building, but OMG specifically stated at their joint conference that they weren't involved with Golem.

That says far more about the Golem project than just that they aren't involved.

It demonstrates that their performance behind closed doors is so unprofessional and incompetent that even face-giving polite Thais and Japanese wouldn't stay silent.

[NewDayNewFace]

What everyone says can be true. One of OMG advisors is the CEO of Golem. So they might not have partnered up but they do have ties with each other. Also the entire market has gone down in the last two days. So I expect this coin to correct with the rest of the coins.

Please check out the advisors of Golem:

https://omg.omise.co

To clarify this is from the CEO of Golem

Quote:

imapp (company where Golem was started) is contractor to OmiseGO and will work on the project with them.
Golem devs will not work on OMG and OMG devs will not work on Golem. Both teams will be in the same building, but most likely on different floors.

[NewDayNewFace]

(10-02-2017 08:55 AM)SamuelBRoberts Wrote:  

SONM. SONM is the other competitor I forgot.

SONM's interesting.

Yes SONM is a competitor and currently pumping. They're technology is behind Golem as Golem at least has a prototype coming out.

SONM ICO price was 41 cents and dumped to 5 cents and is currently pumping at 22 cents. (50% loss)

Golem ICO price was 1 cent and now it's at 24 cents. It pumped to 65 cents and now is at 24 cents. (24x)


For me, This is a coin that won't make much movements until it delivers what it says it'll deliver. But for Golem and competitors, Golem has the most connections in my opinion and is further in the prototype then the competitors. From everything I'm reading this is an all or nothing type of deal. Big Risk; Big Reward.

But we will see in a year or so. I'll either look at this thread and say man I was tripping or I'll look back at this thread and say I can't believe I bought my Lambo because I invested in Golem early.

[SamuelBRoberts]

GNT has now lost half of its value in bitcoins since this post was made.

[NewDayNewFace]

Absolutely. People this past week have been dumping alts for Bitcoin because of Bitcoin Gold. As mentioned before this is a long term hold. I don't expect to make money next week on this coin. Plus I've lost money on Golem as well too. I'm not going to lie about that. But I'm fascinated by the technology and hopefully they can get it together. I'll HODL this coin for a very long time.

[Cattle Rustler]

(10-13-2017 05:02 PM)NewDayNewFace Wrote:  

Absolutely. People this past week have been dumping alts for Bitcoin because of Bitcoin Gold. As mentioned before this is a long term hold. I don't expect to make money next week on this coin. Plus I've lost money on Golem as well too. I'm not going to lie about that. But I'm fascinated by the technology and hopefully they can get it together. I'll HODL this coin for a very long time.

Not to throw salt on you man, but your track record on crypto trading isn't the best....so considering that, I would think twice before doing something. Actually you should do the opposite of what you're planning to do.

[NewDayNewFace]

(10-13-2017 11:08 PM)Cattle Rustler Wrote:  

(10-13-2017 05:02 PM)NewDayNewFace Wrote:  

Absolutely. People this past week have been dumping alts for Bitcoin because of Bitcoin Gold. As mentioned before this is a long term hold. I don't expect to make money next week on this coin. Plus I've lost money on Golem as well too. I'm not going to lie about that. But I'm fascinated by the technology and hopefully they can get it together. I'll HODL this coin for a very long time.

Not to throw salt on you man, but your track record on crypto trading isn't the best....so considering that, I would think twice before doing something. Actually you should do the opposite of what you're planning to do.

How is my track record bad?

I've made so much money in Crypto since I've started months ago (tens of thousands of dollars a month). Please tell me how my track record is bad? If there is anything I know it is Crypto.

You guys have voiced your displeasure over Golem and that's fine. Just don't invest. Thats great. I won't push any coin down anyones throat as many of these coins won't deliver in the first place. But to say my track record is bad in Crypto is down right laughable. I've successfully invested in District0x (sold at 6x at one point), 0x (which 10x at one point), Kyber (which is 2x), ChainLink (sold at 2x), and got into OmiseGo when it was at $1. Trust me sir, I probably know more about Crypto then you.

[SamuelBRoberts]

NewDayNewFace-

I agree that Golem is neat tech, but "lost 50% of its value relative to bitcoin in two weeks" is pretty brutal.

You seem to be treating this as a long term investment with real potential as a functioning business operation, as opposed to another product of a crazy, crazy bubble.
Can you explain what you think a fair valuation is for a golem network token, and how long you think it'll take to reach this valuation?

If you're willing to take a 50% drawdown in 2 weeks, and tell other people that they should be willing to suffer that kind of loss as well, you should have these numbers, right?

[NewDayNewFace]

I first invested in Golem a couple months ago. When I was doing research on this project I figured out what Golem is. Golem is a global and open sourced decentralized supercomputer that anyone can access. It's made up of the combined power of user's machines, from personal laptops to entire datacenters.

A lot of the these Blockchains I see no actual use for it. Golem is one those blockchains where I understand what the technology is and why it is useful. I know in this game your not supposed to fall in love with the idea or technology but Golem is one of those technologies where I love the technology and I'm willing to hold.

On top of that the team hasn't even produced any of the beta yet. Last month Julian (CEO) said that R&D phase is over and now it's time to produce. So what is going to happen when they actually release a Beta version? To me there is no place to go but up. They have first mover advantage over the other companies they compete with. So in the next few months we will see if Golem is for real.

As far as your question is concerned I can't answer that. Blockchain is all speculation and it's all going to depend on the circulating supply at the time. I do know however if they can get this beta off the ground and be successful then this could definitely be a billion dollar market cap. Given it's current market cap at 180M then that is a 5x. Based on all the new money that will be coming in this space by year end and next year I think it's pretty hard to lose money in the long term with any of these coins that you invest in as long as its in the top 30 or so.

Also while I do own thousands of dollars worth of Golem it only makes up a very very small percentage of my portfolio. This is just one of the rare coins that I love the technology and see a real need for it.