[whiteknightrises]

After maybe a few hours of severe market downturn, it seems as though crypto is already recovering.

If you saw my other thread on DeepBrain Chain (DBC), you might have noticed that I like to look for coins with a lot of growth potential.

DBC in particular did a bit more than 4x from when that thread was posted ($0.16) until its peak ($0.66). After the correction, I think now would be a good time to get in. Here's some news on DBC sponsoring and delivering a keynote speech at a conference featuring the likes of Tim Draper, Charlie Lee, Brad Garlinghouse, Joseph Poon, and more.

--

Anyway, today I wanted to talk about Theta Token (THETA), which I think has the potential to take off.

It literally just hit Coinmarketcap TODAY and has an ALL-STAR team and advisors:



Not sure what the market cap is (doesn't say yet) but it's ranked 1120, which tells me it has a lot of room to grow.

Theta Token in a nutshell

While video content is increasingly on the rise (by some estimates will account for >80% of all Internet traffic within the next 2-3 years), loading times and such are still pretty slow (especially for people in places with bad Internet).

With Theta, people more or less rent out their extra bandwidth when they're not using their computers and get paid in THETA for doing so. For video content consumers, this translates to faster loading times. In essence, a p2p content distribution network.

With Theta Tokens, people can tip streamers, unlock premium content, buy and gift virtual items (like in-game "skins" for weapons in video games), and more.

To be honest, I don't give a shit about all that as much as I do the team and advisors.

Team

Unlike most projects in the crypto space, the team isn't a bunch of blockchain idealists, but has a real track record of making things happen.

The team behind Theta Token is the team behind Sliver.tv a streaming site for eSports (competitive video games, a huge industry in itself) that has 1 million monthly active users and has seen INSANE growth:



These guys have funding from the likes of Samsung and Sony ($9.8mn Series A Funding round in August).

Sliver is legit and has people like adreN (a top player and streamer from Counter-Strike: Global Offensive, one of the biggest eSports titles alongside Dota 2 and League of Legends) on it - he's the one in the lower left. Not only that but they are already integrating Theta Token into the site, which should give THETA some real traction:



Advisors

Here is what I find really impressive.

Their advisors aren't just people from the blockchain space (which is largely unproven) but includes the likes of

1. Steve Chen, Co-Founder of Youtube
2. Justin Kan, Co-Founder of Twitch

Conclusion

Honestly, I could see this becoming a really successful project because everyone on the team + the advisors have actually done something with their lives. You can have the best idea in the world but it doesn't mean shit if you can't execute.

If not, it will probably go 5-10x off hype alone cuz crypto lol.

You can get THETA on Huobi and Gate.io (according to CMC)

[stefpdt]

This looks solid.

Like you said, I really look for the founders track record of execution, first and foremost. That's the best indicator of long-term success IMO.

Advisers from YouTube and Twitch is also a great plus.

As a really early speculative coin, I think this is a great one.

Do you have any experience using Huobi or Gate.io?

As long as those exchanges are legit, I'm down to pick up a little stack.

[whiteknightrises]

Yep, Huobi works fine. About as legit as any other crypto exchange haha.

THETA withdrawals are unavailable until the 22nd though:

https://medium.com/huobi-global/world-pr...8eaafde05c

[zombiejimmorrison]

I'm trying to exchange some Etherium from coinbase into huoboi but it tells me this.

Quote:

We don’t recommend that you deposit from smart contract address or Coinbase address or it won’t be credited.

Why is that the case?

[Olav]

Because you're not depositing to a wallet like MEW, but to the exchanges smart contract. I almost lost 15 ETH once doing this

[zombiejimmorrison]

(01-18-2018 04:37 AM)Olav Wrote:  

Because you're not depositing to a wallet like MEW, but to the exchanges smart contract. I almost lost 15 ETH once doing this

Yikes, thanks for the heads up. So how do I go about adding money to this exchange? Can I add money through coinjar?

[RedPillUK]

You should be able to roughly estimate their market cap based on how much was raised during the ICO.

https://medium.com/@ThetaLabs/theta-toke...6828d04e97

This article says

Quote:

In the past month since Theta’s debut, we had an overwhelming interest in our private presale. We deeply appreciate the support we’ve gained from all parts of the world. We were oversubscribed and had to cut back most of the presale in order to protect our hardcap. We believe in self-discipline and “running lean” in order to achieve long term success for the whole community.

In light of this, and after consulting with our advisors including our legal counsel, we have decided to cancel our public token sale that was scheduled for January 8, 2018. We truly appreciate your support, your time and attention to our project, as part of our success lies in having such an amazing community. For those who passed our KYC, and whitelisted a wallet address as of January 3, we may airdrop some Theta tokens as a token of our appreciation. Stay tuned for the date and amount of our airdrop, we’ll post on our website when ready.

So it looks like the public sale was cancelled as they reached the hard cap in the private sale. I read somewhere else that cap was 12 million, at the moment the volume is around 9 million. So the market cap is probably already at least 20, 25 million already.

Also a lot of the people who registered for the public sale but didn't get in, will get 100 free tokens on February 5th, so there will a possible dump and price decrease on that date.

[whiteknightrises]

According to this post from Theta on Reddit, circulating supply is 618,750,000 and the rest of the 1B tokens are locked up for 6-12 months for Theta reserve and mining reserve

At the current price of $0.197286 (CMC), that gives THETA a market cap of $122.07 million. High but still some room for growth

Quote:

That is correct, the distribution is:

30% to investors 22.5% Theta reserve 15% Network seed/strategic partners 7.5% Advisor, employee incentive pool 25% miner reserve

Total supply: 1,000,000,000 tokens Initial circulation supply: 618,750,000 tokens, with the rest of the 1B locked for 6-12 months (for Theta reserve and mining reserve).

A lot of distribution info was taken out once we no longer had a public sale and ended up just having a private sale, so that's where the confusion came from. Happy to answer any other questions though!

Yea, according to the CEO there were ~10,000 people on the public sale whitelist so at 100 THETA/person that's about 1,000,000 tokens that will be airdropped.

I am holding for the mid to long-term though

[westcoastlink]

Saw Theta hit the market at 15 cents. I'll be getting my 100 air dropped tokens on February 3rd. Not sure if I should buy more yet for the long haul.