What’s up everyone! (TL:DR at the end this time, I've learned from my past mistakes haha)
Yep, it’s me again! New case for a new coin that seems to have taken off lately (and for good reason!) I’ve been researching it deeply lately. For those of you wondering (and in a voluntary spirit of being transparent), I do hold nice bags of the coins I post about. However I do not dump them. I’m a HODLER at heart, and love to invest in and hold coins that have a purpose. You know, like, an actual purpose. I have a Phore masternode, which i intend to keep running indefinitely. I also have a decent chunk of COSS, which I also intend to keep for a very long time (3+ years, until they are a full crypto one-stop-solution).
If you’ve missed my previous post, you can find it here: A Lost Gem In A Sea Of Shitcoins, Vol. 1: https://www.reddit.com/CryptoCurrency/comments/7h69xa/a_lost_gem_in_a_sea_of_shitcoins/
For those who do not know me, or haven’t read my previous post, here’s my intro: I come from a business & logistics management background. I started investing in cryptocurrencies and trading a little more than six months ago. I am very detail oriented and I’ve been researching all kinds of cryptos, for hours a day, for the past six months. Cryptocurrencies went from a simple hobby to a burning passion during that 6 month period.
I’ve spotted great coins at great prices, and it seems I keep doing so! Firstly, Ethereum at 150$. Then NEO when it was antshares (sub-3$), Gas when it was antcoin (sub-30c), OMG when it was sub-1$, ETP at 1$ (ended up selling at 5$, too many wallet issues and kind of lost faith in it), COSS at 6 cents, that ended up getting a lot of visibility due to my last post (23K+ views), and finally, Phore at 60cents.
It took me less than an hour of research to understand Phore’s potential. I immediately purchased and setup a Masternode after seeing how undervalued it is compared to coins like Dash, PivX, and other privacy/masternode coins. I must admit, i FOMO’ed in really fast, but then kept on researching after I had secured my cheap PHR, and the more I researched, the more I saw the vision.
For those of you that don’t know, Phore is a fork of PIVX. It is a Masternode/Proof of Stake hybrid (MN + PoS), meaning 60% of the block reward goes to Masternodes, 30% to stakers, and 10% is left for the “development fund”.
For the newbs reading this (welcome, by the way!), a masternode is basically a node that you deploy on a virtual server (or on your own computer) and it basically verifies the blockchain and maintains concensus alongside the other nodes. You need to “lock” 10000 phore to deploy a Masternode. Proof of Stake, on the other end, basically means you can purchase coins and “Stake them” (aka put them in your wallet) and they will also be used to validate the blockchain. Both masternodes and staking will give you rewards, in Phore coins. Masternodes more than staking, obviously, as you “lock” a rather high amount of coins to deploy one.
Allright, so, what’s so good about this Phore coin? Isn’t it just a PivX knock-off? 1)
Well, first of all, The MN/PoS structure is simply genius IMO. Dash’s value has gone up a lot simply because there is so little in circulation and most of the coins are locked up in masternodes. But Dash is MN/PoW, basically Masternodes + Mining. Miners do not have as big an incentive to hold unlike MN’s, it’s their mining equipment that generates them Dash. In Phore’s Case, yes, we do have the Masternodes locking up most of the supply, but we also have the stakers that are incentivized to lock up their coins to stake, and generate some extra coins. 2)
Which brings us to point 2. There is a BIG incentive to buy and hold this coin. Masternodes are being deployed at a rate of 5 to 10 per day. This means 50 to 100k phore are being purchased and locked up, every day. On top of that,
people that cannot afford a costly masternode, can still buy a few thousand coins and earn “interests” as they help validating the blockchain too! This basically drains the order book, fast,
and skyrockets the price. 3)
What happens when the vast majority (65%+) of the coins are locked up in masternodes, and from the 35% remaining, most of it goes into “staking”? Here’s what happens: the supply becomes increasingly low, the demand increasingly high. People that own masternodes or own decent amounts of coins don’t wanna sell, as the “interests” they make double, triple, quadruple in value, incentivizing them even further to hold
What I’ve described in points 1 to 3 is pretty basic stuff. Economics 101. It’s a positive feedback loop:
More MN’s/stakers = less coins in circulation = higher price = higher “interests” earned = more people want in = even less coins in circulation = even higher price = even higher “interests”, and it repeats itself until an equilibrium is reached (judging from PivX, equilibrium is at or around 425M market cap). Everybody wants in early on PoS coins, even moreso with MN coins, because of that simple fact. Early dash masternode owners are pretty much laughing right now.
Everyone FOMO’s a good masternode coin, and that’s a fact, pure and simple. 5)
Alright, now let’s dive into the actual “technical” merits of Phore. Phore is developed by an anonymous team. The same team that created Kryptcoin a few years ago (a coin with a decentralized marketplace). The team performed in a stellar fashion with kryptcoin, as well as their marketplace. Unfortunately, they were way
ahead of their time with the marketplace. Most people didn’t even know what a bitcoin was back then. Phore definitely has this “old school, underground project” feel to it, and you will notice a good chunk of its community on discord are crypto believers from well before crypto was even talked about. They are “remaking” Kryptcoin from scratch, with tons of added features, and an even better marketplace. The fact they pulled it off back then only further reassures me that they will pull it off even better this time. This team actually has something under its belt. 6)
Phore will have SegWit, as well as Smart Contracts. Yep, you read that right, smart contracts and dApps will eventually be running on PHORE. Zerocoin protocol as well for completely anonymous transactions. 7)
Phore is integrating a Decentralized marketplace based on OpenBazaar’s codebase. They aim to have it running smoother, with a better UI and make it very intuitive. If there’s one team you have to believe can pull it off, it’s definitely the Phore dev team (They already did it in the past!) And the best part is that it’s not for late 2018 unlike some other coins. Nope. We are already in the testing phase, and it should launch somewhere in Q1 2018. 8)
Although it is obvious, I thought I’d mention it for the less familiar: 10% of each block reward goes to the development fund. This means the project has a constant flow of money to hire new devs, grow the marketing team, grow the project, pay for exchange listing fees, etc.
(They’ve already added an extra dev & an extra marketing team member, just this week, and are already hiring right now for another dev position. So, if you are a talented dev, feel free to apply!
They have applied for Binance today. Although this does NOT mean it is guaranteed, at all, it’s good to see them applying to a variety of exchanges. It is currently only available on cryptopia and is skyrocketing.
Getting added to Binance, Bittrex and the likes would make it explode in a ridiculous way. 10)
Point number 10 will be a little off topic, to put us in context for point #11. Personally, I like to contribute feedback to projects i truely believe in. One example I came up with was a cool idea for COSS and I let Rune (COSS founder) know about it. Basically, when COSS will get FIAT trading, it is impossible for people to get USD and EUR “fee split” from holding COSS, as USD and EUR are not compatible with the DAO, which is an Ethereum Smart Contract.
My way around this was to create a “COSSusd and a COSSeur”, basically an ERC20 token that’s automatically created/destroyed as FIAT is deposited/withdrawn from the exchange. People sending fiat over to COSS would basically be credited with the “COSSusd or COSSeur”, trade with it, and then when they want to withdraw they would exchange their ERC20 for FIAT and withdraw it via wire transfer. The whole thing would be smart-contract powered and transparent so there is always the same number of COSSusd and Real USD on COSS.
Basically, this would result in COSS holders receiving “fiat dividends” as well, and not only “crypto dividends”. Rune is currently in the process of getting legal opinion on this idea as he is an adamant believer in compliance and wants to do everything by the Book. 11)
Well, for Phore, I’ve also contributed a few ideas to attempt to make the marketplace go viral. Viral as in mainstream viral, not only viral in the crypto-space
. The devs, advisors, marketing team, advisors and even the community were all very impressed and took notes of everything. Now I cannot comment on what will and what won’t be implemented, but overall my feedback was received in an extremely positive manner. Here goes: To get the mainstream we need something like: https://www.reddit.com/vertcoin/comments/7ixkbf/vertbase_a_vertcoin_to_usd_exchange/ Basically an easy gateway that's only fiat > phore. Coded in a way that when you purchase with fiat it automatically sends it to your wallet (and obviously we'd need to have a phore mobile wallet app). This is how Phore will go mainstream, no way around it, unless we wanna wait 10+ years for every crypto "newbies" coming in to actually go through the lengthy process of learning about crypto, how they work, familiarize themselves, etc. So many newbies flooding in, we definitely need easy one-click fiat > phore solution. Plus it would be super easy for me or phore marketing team (or both, working together) to put up a small nice and concise "press release kit" and send it out to all the major media outlets (all the big blogs, bloomberg, yahoo finance, lifestyle blogs for the libertarian / marijuana users / all the people that are into the whole “freedom thing” as well as all media outlets targeted to the 18-30 crowd). Facebook advertising campaigns (targeting 18-35 age range, people interested in crypto, people interested in "online commerce", etc etc.) as well as google advertising campaigns (people search amazon or ebay, and they find our sponsored paid ad on top saying "thinking of trying amazon? Check out the phore marketplace, it's cheaper, blockchain-powered and 100% decentralized".
*Instagram campaigns as well, lots of the 16-30 crowd there. Instagram, google, Facebook and Reddit campaigns and any other viable channels. We can do all these things AND succeed at them quite easily, all we need is 1) an intuitive marketplace, which the devs are busting their asses off to achieve and we KNOW it'll be phenomenal, and 2) a fiat > phore gateway integrated. That second point will make or break it in terms of mainstream adoption, hence why it's indispensable to have it before we tackle "mainstream marketing" via FB, IG, Google, Reddit, Twitter, Blogs & Other Media outlets. Ideally the fiat > phore gateway would be on the website itself, so people get credited their phore directly on their marketplace account. With a mobile wallet being a nice add-on of course so they can keep the extra phore in there when not in use, and 1-click transfer from marketplace to mobile wallet and vice versa, "a la paypal/dash evolution. TL;DR for the lazy:
Masternodes + PoS //
Self-sufficient project due to the “treasury fund” //
Stellar team who has ALREADY DONE THIS before //
Currently underserved (cryptopia only) //
Team applied to exchanges including Binance //
Segwit + Smart Contracts + Strong privacy features //
Decentralized Marketplace being beta tested as we speak and launching Q1 2018 //
Strong incentive to hold as both Masternodes AND stakers dry up the supply for staking purposes, which creates a positive feedback loop (coins get bought, price goes up making the “staking & MN rewards go up”, making more people want a MN or Stake, more people buy, price rises again, “interests” earned go up, rinse and repeat in an endless loop until equilibrium is reached).
Currently, a masternode generates roughly 120phweek. Calculate Phore’s current price multiplied by 120 and you’ll get a pretty solid estimate of the weekly revenue generated from a Masternode. Lastly, here’s a cool pic comparing Phore to other privacy coins, for you visual folks: https://i.imgur.com/ZVVEqyH.jpg
As well as a cool short video from one of the winners of the community video contest: https://www.youtube.com/watch?v=P4veIgQmmBs Well, that’s it for now folks! As usual, not investment advice, and always do your own research before coming to conclusions. I am just a random internet stranger after all.
These comments will also add further to the rumor of Binance and Ebay collaboration, something which a twitter user rightly pointed out: Will not surprise me if it's bnb as @cz_binance himself has said one of the key areas of bnb would be in e-commerce ! — shotemba.eth – Lock, stock, and barrel into crypto (@shotemba) May 13, 2019. PayPal’s contract with eBay. There may be some obstacles ... Will not surprise me if it's bnb as @cz_binance himself has said one of the key areas of bnb would be in e-commerce ! — shotsOfThoughts.eth (@shotemba) May 13, 2019. Did eBay Split With PayPal Over Crypto? When considering eBay payments, it’s difficult not to think about PayPal. Although they started life as part of the same company, they split into separate entities during 2015. Since ... The integration of Bitcoin was announced after PayPal announced the decision to split from its former parent company eBay due to massive changes in the commerce and payments landscape and the fact that “each business faces different competitive opportunities and challenges.” The separation, agreed in September 2014, will become effective before the end of this year. Thu. Nov 5th, 2020 ; Bitcoin; Crypto Tech and you accept bitcoin, for example, and the very next day it moves 15 percent, you’re now underwater on that transaction.” However, PayPal and eBay’s partnership may not last past the 2023 mark as they have split from one another and it seems that eBay will use Adyen in the future for payment. Whatever In 2014, PayPal once again split from eBay and continued its meteoric growth, racking up more than 325 million active accounts and 1 billion transactions to-date. Now, PayPal stands as one of the largest online payment companies, easily eclipsing some of its closest rivals, including Transferwise, Skrill, and Stripe.
Paypal Account gehackt - Geld weg Youtube Binance & Ethereum Hack 2020 Phishing Emails Lichtblick. Loading... Unsubscribe from Lichtblick? Cancel Unsubscribe. Working... Subscribe Subscribed ... Today i want to talk about one of the longest running #Bitcoin peer to peer marketplaces known as Paxful which allows you to sell and buy Bitcoin with multiple different methods such as PayPal ... EBAY TO ACCEPT BITCOIN AS PAYMENT METHOD?? There are many people citing many reasons for the huge surge in the value of Bitcoin, but one of the key reasons is the number of platforms that are ... paypal bitcoin email paypal bitcoin ebay paypal e bitcoin paypal to bitcoin forum paypal to bitcoin no fee paypal to bitcoin low fee paypal bitcoin fees paypal bitcoin free paypal founder bitcoin ... What will happen when Binance opens tomorrow? Is 40% dip still in the cards? eBay crypto rumor... Is 40% dip still in the cards? eBay crypto rumor... Skip navigation Paxful: L'EBAY di Bitcoin e delle Criptovalute ... dal bonifico bancario a PayPal. Il tutto con un'interfaccia simile ad Ebay, con profili di venditori ed acquirenti recensibili con feedback ed un ... Coinbase-Gebühren: Nutzen Sie bitte zum Transferieren von Coinbase auf Binance nicht Bitcoin, sondern Ethereum um Gebühren zu sparen!!! 1. Ich kann das Binance-Puzzle nicht lösen. Watch Live Impeachment Trial Day 2: Senate adopts rules for Trump trial after heated first day CBS News 20,459 watching Live now THESE ARE THE TOP BITCOIN AND CRYTPOCURRENCY AFFILIATE PROGRAMS! EARN CRYPTO WITH THESE PROGRAMS: https://affiliate.watch/category/cryptocurrency 1. Binance ...