Topic: I'm bored... it's hot... and I like throwing money away on frivolous investments (Read 551 times)

ill have a go fella, id want ATOM, as its a staking coin id be happy for you to leave it on Polo so the retuns are compounded if you would allow it (any risk of Polo fucking off with it all would be on me of course) would that work?

Thanks for the offer to join, but to be honest this didn't get the support or traction that I had hoped for.

Sadly, I think we might have missed the pump and I'm not sure we'll get 10 people on board any time soon... but I'm still keen to try.

You've misspelled some 0.01's as 0.1's on the OP

Anyway... It's on!

The btc denominated value of syscoin has plummeted over the past 10 months from a high of 1668 satoshis around march 29, 2019 to 278 satoshis today.

So It's either dying, or ready to blow up. It's clear which side I'm on so I'm not going to belabor the point. Quite a gamble.

Agree on halving considerations. But I thought this was about us throwing away money frivolously, like it's nothing more than mere glitter crypto for entertainment?

But okay, sure. Personally, I think halving will not have the desired (or expected maybe I mean) impact. Everything's already spread out and priced in over the long term, but hey, what I think is shit, judging from my performance of alts in past 2 rounds.

Be nice to still ping people around and get some er consensus over dates.

Actually, that is a pretty valid point... and not something I had actually considered until now.

The halvening is likely to have a massive impact on Bitcoin (and by proxy, all cryptocurrency)... Perhaps it would be wise to commence after it occurs so there is less chance of a massive "event" in the middle of the experiment that could wildly skew the values?

I'd join but I don't trust shitcoins this close to the halvening. If there is a still a spot after I will join for sure.

Should really pay more attention to these old threads. I participated in both ill-fated but exciting previous manifestations, so yes, I also like throwing money away on frivolous investments. But since I quit smoking over a year ago, I've been putting the savings away on lottery subscriptions (yes, I'm masochist). Why not another 0.01 BTC on stupid altcoins, right?

I've taken the liberty to edit the line below, btw, since 10% of winnings was the old rollercoaster bladibla:


Now if only there were a way to nudge those past participants. Maybe they're blind like me and never saw this phoenix rising from the ashes of Loyce's thread.

 I knew you'd come to your senses

Shit I just looked up what LINK is and it makes no sense to me at all. Not saying it's intentionally scammy, but they will end up taking people's bitcoins. I dunno what I was thinking really. All (bar perhaps GRIN) these altcoins don't stand up, and I don't even want to dabble in them now I look at it seriously.
I am sorry, y'all can negrate me if you like, but I am withdrawing my commitment to contribute here.

Such season very altcoin wow.
Come on people, the bottom is in (in btc) probably and alts may drift up a bit with it now, possibly.

Yeah... I guess I didn't make that clear... so, for reference... it IS my choice.

Is Grin your actual choice or is that an example?

Hello. How very cool.


I have no sense of what a LINK is. Maybe I'll research it. Just a name I heard a lot as a likely winner, but we shall see.
Thanks so much.

reserved

AKA: HCP's Ode to LoyceV's Legendary 10 Month 10 Person 10 Altcoin Investment Roller Coaster (with a Twist)

Summary:

I think we all know the basic concept... 10 people (including me) will each contribute 0.01BTC to a pool and then each person chooses a different altcoin... and I'll then buy the 10 chosen altcoins (via an exchange Bittrex, Poloniex, Binance, Bitmex)... we'll all then F5 repeatedly on coinmarketcap.com for 10 months hoping against all hope that we at least break even this time

However, based on a suggestion... it's time for a twist!

At the end of the 10 months... Any altcoin that has "lost" (ie. is worth less than 0.01 BTC BEFORE trading/withdrawal/transaction fees) will simply be returned to the person who picked it and that person is removed from the pool. Any altcoin that has "won" (ie. is worth >= 0.01 BTC BEFORE trading/withdrawal/transaction fees) will be sold and then split amongst the remaining participants (if any).

To illustrate... let's pretend we get the following (very unlikely) results:

|		|	Altcoin	|	Start	|	End	|
|	1.	|	GBYTE	|	0.01BTC	|	0.01043996BTC	|
|	2.	|	PIVX	|	0.01BTC	|	0.00526071BTC	|
|	3.	|	SC	|	0.01BTC	|	0.00957474BTC	|
|	4.	|	XRP	|	0.01BTC	|	0.02049344BTC	|
|	5.	|	NANO	|	0.01BTC	|	0.01000000BTC	|
|	6.	|	NEO	|	0.01BTC	|	0.00999999BTC	|
|	7.	|	WAN	|	0.01BTC	|	0.00464830BTC	|
|	8.	|	NMC	|	0.01BTC	|	0.01009288BTC	|
|	9.	|	DGB	|	0.01BTC	|	0.00370873BTC	|
|	10.	|	XMR	|	0.01BTC	|	0.01073756BTC	|

PIVX, SC, NEO, WAN, DGB all "lost" (< 0.01BTC value)... so those participants would simply receive their chosen coins back after the 10 months as their "reward" for being shit at picking altcoins.

GBYTE, XRP, NANO, NMC, XMR all "won" (>= 0.01BTC value)... so those participants would get:
(0.01043996 + 0.02049344 + 0.01000000 + 0.01009288 + 0.01073756) / 5 = 0.012352768BTC (- trading/transaction fees) as their "reward" for being less shit at picking altcoins.

In the event that ALL coins "lose"... well, everyone simply gets their chosen "worthless shitcoin"™ back!

---

Start Date:
Will kick off once 10 people have signed up and deposited 0.01 BTC.


End Date:
TBA once Start Date is known.


How to "Play":

Simply pick an altcoin that you think won't be a total train wreck in 10 months... then post the following, replacing my details with yours. Note that it's probably a good idea to use an address that you'll actually have access to in 10 months time.

First in, first served... and once you're "in"... you're "in" for 10 months... there is no escape!

I'd prefer if people choose coins that were listed here: https://shop.ledger.com/pages/supported-crypto-assets (in the Nano S column) or here: https://trezor.io/coins/ (in the Trezor ONE column) and that are "easily" obtainable... (on an exchange like Poloniex or Binance or Bittrex etc)... (Yes, I know GRIN isn't on hardware wallets!... DO AS I SAY, NOT AS I DO! )

Once we have 10 participants and 10 coins sorted... I'll post up deposit addresses for the participants to deposit their 0.01 BTC. Once all the funds are in place, I'll convert the BTC to altcoins and off we go.

At this stage, I'm considering storing the altcoins on a hardware wallet (if possible) or a local wallet, instead of leaving them on an exchange... but will need to investigate the withdrawal and transfer fees involved. Final decision will be by majority vote from the 10 participants. In case of a split vote, decision will be made by random selection (a future block number will be chosen and the last "char" of the blockhash will decide the outcome "1,3,5,7,9,a,c,e" = exchange, "2,4,6,8,0,b,d,f" = hardware wallet)

---

Disclaimer:

In case you hadn't realised after the last 2 rounds of this game... "Bad Things"™ can happen:
- An altcoin can simply become worthless and cease to exist.
- Exchanges can delist an altcoin.
- 0.01 BTC of an altcoin can drop lower than the minimum amount required to trade it.
- Also, in case it wasn't obvious, you're "buying" a 10% share of all the altcoins chosen... so if someone else's pick tanks... you lose too!
- This is just a bit of fun... don't join expecting to make any money... and don't play with money you can't afford to lose!


NOTES:

- Thread has been made self-moderated to help keep things tidy.
- Inspired by (and with large parts "borrowed") from LoyceV's thread
- Credit to OgNasty for suggesting "The Twist"™