[CleanSlate]

As someone who was initially skeptical of ICOs, I came across a project that immediately appealed to me and I took a chance on it -- and I'm glad I did.

This project is the Obsidian Platform.

The ticker symbol is ODN and you can check its current price by going here.

So... what the hell is Obsidian anyway?

Great question.

You might have heard it's a new messaging app. Pfft, it's just another messenger. I already have Whatsapp, so whatever. Right?

Ah, not quite. It's more than just a messenger. Much more.

Obsidian is a new C# blockchain based off of Stratis and the token is a Proof-of-Stake coin. Proof-of-stake (PoS) means you could hold your coins in a wallet that's connected to the blockchain, and you could earn "staked" coins over time as passive income. It's kind of like earning interest on a savings account. Obviously, the more tokens you have, the more staked coins (interest) you earn. In a year or two, you can have MasterNodes with 10k coins and earn even bigger rewards.

Ok, so what's so special about this particular blockchain?

The answer is privacy.

In fact, the founder of Monero, a well-known coin specializing in privacy and anonymity with its market cap into the billions, is now working with the Obsidian team as a technical advisor. That says a lot about the quality and potential of this project.

The Obsidian blockchain will provide anonymous services in total privacy, such as:

* Anonymous and encrypted messaging without PGP hassles
* Anonymous and borderless money transfers
* Anonymous transfer of multimedia files such as documents, pictures, videos, audio files, etc
* Anonymous purchases that you don't want marketers or the police to track
* Anonymous shitposting without social media keeping tabs on you or worse, putting a gag on you (yup, seriously)
* Platform for developers to build privacy-oriented applications

And with Obsidian, you should be able to do all of the above without leaving digital bread crumbs. Or without coughing up your phone number or important bits of personal information that could be used against you, or somehow compromise your security.

Here's how one 4chan/biz commenter put it:

Quote:

Imagine being able to purchase things off of craigslist without giving up your phone number or message vendors on the DarkMarket without using annoying PGP methods. Anonymous shopping on your phone for anything: prostitutes, drugs, and nudes. If this project succeeds, all the underworld will have a new playground for communication, information transfer and all sorts of other grey market enterprises activities completely anonymous (literally billions of dollars in data and business outside of the power of the government can become movable overnight when this project succeeds).

Link

And... not to sound cliche... it's all decentralized!

Meaning if some totalitarian authority figure or a butthurt SJW wants to shut it down or go after you, they can't.

The messenger dApp is just one of the dApps they are working on right now. Yes, it's the featured dApp that they've built, but it's not the only thing you can do with Obsidian in the future.

Here's a comparison table to give you an idea of what Obsidian can do, versus Whatsapp, Status, and other things.

   
Image source: Link

If you want to dig really deep and learn more about it, here's a link to their white paper.

When I first invested in ODN at ICO time, it was worth roughly 15 cents. Now it's 84 cents at time of writing, with a peak of almost $1. But the potential is huge. If it becomes a serious competitor to Stratis and other privacy coins, it could reach the $5-10 range.

But don't hold me to that... please do your due diligence, and only invest what you can afford to lose!

Good luck.

[SamuelBRoberts]

ODN is fucking cool. Cleanslate's summary above is excellent.

Some quick thoughts:
ODN's price is kind of stalling out since it's no longer quite the blazing hot thing it was when it launched. (Time moves fast in cryptoville and people move on to new things.) I would be surprised if it broke 1$ any time soon, particularly with the general downward trend of the market. Remember that at 1$, an ICO folder is coming very close to 10xing his money, and there's a LOT of incentive to take profit particularly as it looks like BTC might shit the bed. (Out of the top 5 traders I know, by the way, 1 is playing with day trading and has exited all long term positions, 2 are taking refuge in sub 5-million range microcaps, and 1 is planning a vacation. I'm planning on cashing out when I'm ahead, leaving the money in my gdax account and buying back on the dip.)

ODN will be listing on an exchange in the coming weeks, or so we were told. It might be Bittrex, but I doubt it: ODN was a zero KYC ICO that would be relying on a rather dicey "masternodes and staking mean it's not a security" interpretation that I don't think Bittrex will want to chance. It might be one of the Chinese ones? I don't know. Many ODN holders probably don't want to deal with the shithole that is Cryptopia and will HODL till that exchange is added. Expect a massive dump when that happens.

I've heard several ODN holders tell me that they're expecting prices between 3~5$ a token eventually and will flip it then.

Given the advantages the platform offers, the nature of the community, the strength of the dev team, it could eventually do very well for itself and end above 8$ or even higher at the high range.

[NewMeta]

Some of my work mates in cyber security have actually heard of ODN, if normies know of it you know its a good sign. Picked up a stack yesterday in anticipation of a potential pump when it hits a big exchange. I will probably sell short term then buy back in at some point in the future. Defo got my eye on it, I would long term hold even, but I don't have what I consider a good long term hold amount by my standards yet, so still trading my way up to it.

Once I get it though, might try pick up about 10k for master node status.

[yaku]

Where do they sell this coin?

[Jean Gabin]

(10-05-2017 02:08 PM)yaku Wrote:  

Where do they sell this coin?

Easiest to buy ODN is on Cryptopia.

[NewMeta]

I need to just put a notice out there but theres some serious order book manipulation going on in Cryptopia. Wait till they dump coins in mass and buy at a bottom (it will happen), dont be an idiot and buy near a top at 19k sats like I did.

Theres some serious accumulation going on here which means as soon as it hits a big exchange a HUGE dump will follow provided theres enough volume for said whale to exit. I might come out at a loss on this one cause I need to withdraw in two weeks for Request but hopefully it hits an exchange before then.

[CleanSlate]

Wow, what a dip! Thinking I should put a limit buy order for 30-40% below current price and scoop up some more ODN on the cheap, just in case.

[yaku]

(10-05-2017 02:27 PM)Jean Gabin Wrote:  

Easiest to buy ODN is on Cryptopia.

Thanks Jean.

I saw it when it was about 45 cents...wish I had bitcoin ready to go on Cryptopia.

[churros]

Can anybody offer words of encouragement for this coin?

[CleanSlate]

(10-08-2017 10:33 AM)churros Wrote:  

Can anybody offer words of encouragement for this coin?

Surely I can. The project that everyone was hyping about and buying up to almost $1 per token is still the same project now. Nothing has changed, except more progress.

Sellers are taking profits, moving into BTC, causing lots of FUD'ing by the weaker hands.

Here's what I have to say... let the weak hands sell! I am putting in buy orders as I type. My goal is to accumulate enough ODN to eventually set up a masternode, and do so cheaply. Even when it's 60% off its all time high, I am still up nearly 3x ICO price.

Either hang on for dear life, or buy more tokens if you're interested in a masternode. It'll go back up when we get more volume on the HitBTC exchange on Oct 15, and it may even test its ATH either then, or after the BTC forks are over and done with.

I still see this going $5 to $10 in the long term.

[CleanSlate]

Decent rebound to 50 cents. A little disappointed my buy order didn't execute, though. I'll leave that order in in case of another dip, though.

[Transsimian]

Bought a node at ~2000

sadpepe.jpg

[thebassist]

(10-08-2017 01:54 PM)Transsimian Wrote:  

Bought a node at ~2000

sadpepe.jpg

Yeah we're really getting rekt brahs, goddamn. Lot of money flowing from alts towards Bitcoin and Eth as well to some extent so feels pretty bad to be holding ODN right now.

I sold off a pretty big chunk around 13k sats (bought around 12 or so), will be directing those funds towards the Request ICO.

Will definitely be looking to stash a solid portion of my ICO gains back into ODN given my faith in the project in the medium-long term, especially if the price remains as depressed as it is currently.

Anyone who's lost money based on my shill post on the day trading thread my bad brahs, but I do really think this is gonna pan out really nicely as the dev team starts hitting their targets. They will be releasing their Android app in November or so, and the iOS app 'by Christmas', according to the team's current statements.

Stay strong ODNmarines, there are definitely much more lucrative projects to invest in for the short-term, but this project has a huge ceiling if they can deliver well.

[SamuelBRoberts]

Major ODN ICO investor I know told me that their lead dev (OneDeveloper) quit.

Hence an almost 50% drop today.

Horrific.

[Transsimian]

(10-08-2017 05:09 PM)SamuelBRoberts Wrote:  

Major ODN ICO investor I know told me that their lead dev (OneDeveloper) quit.

Hence an almost 50% drop today.

Horrific.

You got the scoop before reddit. It's a shame I didn't check the forum first.

[churros]

Panic sold when I read this. Weak hands.

[CleanSlate]

So I have my 10k now, my buy orders triggered with the dip.

Well, what a ride. All this FUD.

As far as the lead developer, he was fired because he wasn’t pulling his weight for the project. Good. Moving forward without the dead weight.

[SamuelBRoberts]

(10-08-2017 07:14 PM)churros Wrote:  

Panic sold when I read this. Weak hands.

What did you sell at?

[SamuelBRoberts]

I was slightly wrong in my statement above. The ODN web page described the fired developer as the lead, but the REAL lead was actually someone else.
Also the developer didn't quit he was fired for incompetence.

So take that for what you will.

EDIT: Nope, he was the lead dev. The website said he was the lead dev, and then their other developer confirmed it as well:

Quote:

blackstone [2:32 PM]
onedeveloper had the leave the team because his skills did not match what he advertised.
that doesn't mean he is bad or a bad dev, but he wasn't the right one for a lead dev. (edited)

I'm also hearing he has 300k in Obsidian which he can use to fuck up the project any time he feels like, but that's an unconfirmed rumor.


God, what a mess.

[CleanSlate]

(10-08-2017 09:02 PM)SamuelBRoberts Wrote:  

God, what a mess.

Remember Ethereum's DAO hack.

[SamuelBRoberts]

(10-08-2017 09:17 PM)CleanSlate Wrote:  

(10-08-2017 09:02 PM)SamuelBRoberts Wrote:  

God, what a mess.

Remember Ethereum's DAO hack.

That was also a mess, certainly. So it could be worse.

I don't like the lying, though.

[churros]

(10-08-2017 08:51 PM)SamuelBRoberts Wrote:  

(10-08-2017 07:14 PM)churros Wrote:  

Panic sold when I read this. Weak hands.

What did you sell at?

0.0008

Last time I sell spontaneously like that.

[SamuelBRoberts]

I wouldn't worry, man. Everyone does it. It's horrifying to see hundreds or thousands of dollars just up and vanish in the space of a few minutes.

Usually what happens by the way is there's a dead cat bounce where it rallies from where you sell, and then it goes back lower than what you sold at. So there's a decent enough chance in a few days you'll be saying "Whew, I managed to get out of that mess at 8. Glad I was paying attention."

ODN was heading into a downtrend before this happened and this will only accelerate it, I'm afraid. The news of the HitBTC listing was bad, but news of a dev lead dropping out, and worse, that that dev lead has a giant stack of the coin and left on bad terms, is only going to accelerate things. Given the small circulating supply of the coin, any time that dev wants to control the price, he can. The mood has turned from "bleh" to "panic". If you bought the initial wave of panic, when it dropped down to 7, and sold now, you made a 50% profit in a day, (assuming you bought small enough to compensate for the terrible buy book) but that wall at 10000 looks pretty solid. Edit: Nope, it was a wall at 10000 a few hours ago. Now it's a wall at 9000-ish. The coin's lost 10% of its value in a few hours.

To reverse the trend they're going to need:
A.) Some really good news from the roadmap.
B.) A listing on a really nice exchange that isn't HitBTC.
C.) Some really solid people added to their team.

One of the above three, and it's gonna be a while before they get any of these.

You probably made the right call, honestly.

[CleanSlate]

Piece of positive news from Obsidian:

[url=https://twitter.com/ObsidianCrypto/status/917499393175060481][/url]

This week has been a rough week for the Obsidian team and its post-ICO traders. I'm still sitting on nearly 3x ICO so I'm not too concerned. If anything, I'm optimistic that they learned a lesson about how brutal the crypto marketplace can be, and how ruthless FUD can be to token prices. I expect they will improve communication and PR, and their community manager hiring moves reflect that.

The fundamentals of the project has not changed. The fact that they let go a developer who wasn't pulling his weight, and adding several new people to the team, should set them back on the right path.

Here's my take on the current price and market conditions:

1. If you hold any ODN, should you sell now? No.

2. If you don't hold any ODN or want to scoop up some for cheap, should you buy now? I'm not sure yet. I think the price will stay low for the next few weeks, maybe between 30 and 50 cents, leading up to and soon after the BTC fork. It could even go as low as 25 cents, in which case would be a very powerful BLARING buy signal for me.

There's a possibility that during or right after the fork, or even just before, people will pour money back into the alts, one of which is ODN. I'm not particularly good at "timing" the market, so I can't really help you there.

My prediction of hitting $5-10 will be a very long way off, could very well be a year+ before that happens. For the record, if I'm wrong and ODN goes to 0 and everyone abandons ship, I will be the first to eat my words and admit defeat.

But I still believe in this project, despite the FUD and this weekend's struggles. I will be posting news and updates here as I receive them.

[SamuelBRoberts]

Obsidian is very likely about to get perma-fucked.

The team has so much of the coin that they can make the network do whatever they want. They can drain your balances, reroute transactions, anything. It's not a blockchain, it's their toy.
(In technical terms, they hold more than 51% of the supply, which because it's a Proof of Stake system allows them the ability to do what's called a 51% attack.)

I'm confirming this with their development team now to get absolute assurances, but there's no way it can't be true, because the amount of coins they hold is known, and it's known that they're staking them.

Dump this shit now, when this gets out the coin will be worth essentially nothing.