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Discussion in 'The Black Hole' started by RAZER, Nov 3, 2017.

  1. RAZER

    RAZER Custom title ... uh ...

    I had heard about this one before but ran into a LinkedIn post from Paul Dobson (yes David Dobson's brother) about ICO's and a new cryptocurrency called GTCoin. Went over the article and ran into David Dobson, Arkadia and Entropia Universe. Seems David has started gametester a while back to give companies a platform to test their games and have the gamers that test the games make some points they can use to trade of buy stuff in the gametesters shop. With the GTCoins they are taking the step to change that to actual cryptocurrency.


    In the article you see some general info on ICO's and cryptocurrency and all of a sudden an picture of David in front of his house.


    There is some info about him, Arkadia and Entropia Universe and how PED are actually already a form cryptocurrency.

    A bit further down you get a video of a guy named Dylan Cock, who we all know as SyerNide, forum admin over at Arkadiaforum.com.

    So, are we moving from PED to GTcoins in the future?

    https://gametester.co/ (referal link, to see if this works :) )
    Last edited: Nov 3, 2017
  2. Nice, thanks for the heads up !

    Everbody who tries to jump the crypto market now, is either too late or (always) has "one big plan".
    Making more money.
    Everybody behind such crypto projects claims to be unique at 1st...seriously, blah !

    To me, crypto will always be a niche market. So its perfect for our "Universe". ;D

    Any comment by the president of the virtual reality on this topic ? What a farce.
    Honestly, such topics, together with the word Entropia...have always been a big joke.

    "FreeMyVunk" anyone ? What a waste of time...in combination with Entropia....and tons of blah blah blah...no real results, never.

    Just to jump on to the next "project". Yes, also the FreeMyVunk guy headed over to his next project...so did our President of the Virtual ...blaaahhhhh...this isnt even worth mentioning anymore.
    But yes, this is a niche market and just because a bitcoin is worth 7.3k$ now, doesnt mean this is a gigantic market.
    Entertainment & Adrenaline for the rich. It wont change or make this a better world either.

    To those who can afford it, enjoy watching the growing digits on your screen, as long as it works.

    Most bitcoin users that I know, SEE this as playmoney, never buying more bitcoins,
    never selling any bitcoins. Just watching the digits, going up and down.
    I dont even feel sorry for the people that are buying coins now, hoping to become rich.

    dot com bubble 2.0 anyone ?


    Good luck to them...they'll need it.
    • Like Like x 1
  3. San


    The thing which makes or breaks any speculative "investment" is not knowing when to get in, but when to get out. Best way to not lose your sleep over it: Put in a regular amount of fiat you don't need for your daily life (thus buying by the value averaging method, no need to stress out over daily exchange rate), let it accumulate and increase while the sun is shining, and buy physical gold and silver for your crypto whenever the threshold for a reasonable unit is reached (min. 1/2 ounce gold, 1/1 silver ounces for any change left). Always take delivery, don't rely on paper contracts. When your crypto stops gaining, keep buying metal but use your fiat directly. The future of our Euros and Dollars is much more on the brink than most people want to know. You're already gambling with every paycheck you don't convert fully.
    • Like Like x 1
  4. big problem with ico type stuff and bitcoins in general is that it's all essentially nothing but monopoly money printed out of thin air, and it's something that if you have no actual use for (such as trading it for illegal goods via silk road, etc. which is the only 'real' use many have/had for it originally) it becomes something that is really anti-life in some ways as it is taking so much electricity/computer time to generate... I'm honestly surprised a bunch of eco-terrorists haven't started chasing down big time crypto currency miners yet.
    • Like Like x 1
  5. You can buy gold with bitcoin but just like bitcoin you lose a high percentage when you sell (unless you sell person to person I assume).

    We’ve already had a Bitcoin bubble and subsequent crash so for it to rise from the ashes like this is quite impressive I think.

    I see it as a sort of digital gold: an alternative hedge or asset.

    And as long as enough people are of the same mind then that should continue to support the price.

    When Jamie Dimon, CEO of JP Morgan said that people who buy bitcoin are ‘stupid’ and that it will end badly...you can bet your last dollar that if the bitcoin price crashed back down to $5 he would be filling his boots buying them by the thousands.

    But the ICOs are another thing altogether and until someone convinced me otherwise I’m steering clear.
    • Like Like x 1
  6. Tass

    Tass Administrator

    Interesting. I've followed the development of gametester.co a bit and thought it's a project of @Syer (poke) and friends.

    Now, is it really sufficient to have some idea, no matter how ordinary it is, no matter how little chance it has to succeed, if you just attach it to an ICO you gonna be a millionaire in very short time? Could I do it too?

    I have to admit I have absolutely no idea about crypto-currency. I saw shops starting to accept Bitcoin but also saw 95% of them dropping it again after a very short time. Another indicator for me is that the big guys are not really in, no GoogleCoin, no AmaCoin, no ZuckerCoin yet. And then, why do people want to sell you their super-duper crypto-currency but want dollars in return, that's kind of absurd and can't really convince me of their product... So to me still all looks like just some nerdy investment gambling thingie.
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  7. This is simply the truth and the cult of crypto is fully aware of it.
    While there will be still people trying to convince you, that crypto/bitcoin "can do so much more", it is still what it is...namely gambling...and it is usually "too much too explain" for them, to make you fully understand, why it "can do so much more".

    For example, watch some videos of "you can do so much more with bitcoins" starring Brock Pierce and you will fully loose your interest in it. Promised. ^^

    Or listen to our President of the Virtual Reality for a while...and why not get yourself some Neverdie Coins while you are at it ?
    You cant loose....live forever ! No, wait, that was a simple and clever scam, for idiots only. x'D

    Then again, it has arrived and it is still around and it works. You shall go and spend all your reallife money on it !
    Typical win-win situation. You get cool (virtual) coins that still gain value, others get your money.
    And should those coins suddenly become worthless, you still have your USB Stick with encrypted data on it, while others still have your money. :'D

    Some call this 1st world problems. ;p
    Some call it the future of...coins...
  8. NotAdmin

    NotAdmin Administrator

    I still see some benefits in crypto curtrencies. If governments are anxious to shut something down, it must be because it somehow poses a threat to them, and that alone would be worth investigating.

    However, what is happening now is that everybody and their grandmother is trying to hop on the bandwagon in order to hit it big. IT somehow reminds me of a pyramid scheme, where currently everyone is scrambling to hit the next level and hopes to become sustaining enough to ensure they break even or walk away with profit.

    There's simply too much happening right now, and too many projects run by people I wouldn't trust to babysit a dog, let alone manage a currency.
  9. When my postman told me he was thinking of buying some bitcoin I thought ‘uh-oh’.

    The only stock he owns are some Royal Mail shares he got for nothing when his employer got privatised.

    And with a young family not the kind of investment he ought to be making imo.

    So it’s looking like the media hype is indeed helping to inflate the bubble playing upon people’s greed or fear of missing out.

    I advised that buying bitcoin at the current price looks extremely risky but if he was set on doing this better to buy in small amounts each month to ‘pound cost average’ the price swings rather than to risk a lump sum.
  10. NotAdmin

    NotAdmin Administrator

    If your postman wants to invest in anything, at least precious metals have managed to retain their value over the ages. Sure, there's volatility in that market, too, but it's a market that has been around for hundreds of years, and even before that, gold and silver were held in high regard.

    Another investment opportunity nowadays is Scotch. Collectable whiskies are rising steadily in price, and while that rise right now seems to stagnate a bit, I'd still trust that over bitcoin.
    • Winner Winner x 1
  11. Hmm...buy collectable scotch with bitcoin?

    Then try to avoid drinking it! :beerchug:

    I’m guessing auction selling fees not cheap even though it’s a liquid asset. :)
  12. NotAdmin

    NotAdmin Administrator

    Well, auction fees ought to balance out over the years. It'd not be something you'd want to do for short-term investments. But yeah, there's a number of extremely collectable bottles out there that keep breaking records every time they are seen on auctions. Unfortunately most of them well outside my budget, but one can dream :p
  13. not a pyramid scam, more like pump and dump stock market scams that fill up 98% of the fax machines daily.
  14. Tass

    Tass Administrator

    So, I've read it again, the basic idea seems to be a games distribution platform like Steam but better.

    If such an idea can yield hundreds of thousands, if not millions of dollars in couple of weeks or months my question still is: Can I do it too? Would the crypto-investment scene buy?

    Because I have a similar idea, with a different approach though, and on a different scale, but less risky, less expensive and more likely to succeed.
  15. PEDS have nothing to do with crypto currencies, they are just a virtual currency, that can be created on will by the creators and for their own benefits, no public ledger, inflationnary, centralized. It's as much a crypto currency than Egold was, or Liberty reserve were.
    Basically absolutely nothing in common, apart from the fact that it is a digital monkey money, with a pegging to usd if the bank /FED allow (bank / FED = MindArk)
  16. And hackers stole 60 Million $ from taiwanese bank last month. Nothing special Mccormick.
    Also bitcoin has done nothing but a cycle of rise last months, not because of hacks, but because it's maturing, and institutionnal money is starting to be in.

    That you want it or not crypto currencies are the future.

    I could comment many ignorants things I read on this thread that I see but I wont, instead I recommend you this interesting video:

  17. I wouldnt want to call it ignorant, but my very own opinion, based on a strong feeling, that I get by watching this whole crypto topic...also, if Im not even 50% into crypto, I may have a valid opinion about it. ;)
    I wouldnt want to call crypto "innovation", but pure speculating and gambling, in its current state. Thanks to human nature.

    And I dont see it to become "average Joes" payment option No.1 in a very long time.
    I dont see it chaning the world anytime soon. I know its there, but its not.

    I know, back in the days people said you will never be able to travel at 80 miles per hour...as it would splatter your body.

    Of course there is always a chance that I will be completely wrong about something.

    Would I talk different if Id own several bitcoins ?
    Hell yes, also because I dont want to see it fail and also because I could clearly see that it works right now.
    But only as pure speculation object.
    I would sell all coins right now If Id need some extra money or let them hanging around in my wallet, if it was pure playmoney to me...just for fun.

    I actually can imagine what could be possible with all this. And the guy at 6 minutes talks well. But many people regarding crypto/blockchain/bitcoin/new tech can talk very well, making it indeed sound very positive and interesting, even if you dont need that prodcut.
    But right now, crypto is something completely different (to me).

    I do like the basic idea of it and the fun people had back then, getting rewarded for their patience now. No problem. It was fun and it made people "rich". Yay.
    But the world got so many dumb people and problems, crypto doesnt feel as something that we really need right now (to me), not because its a shit product, but mankind will simply fuck it up again. :)

    I could even imagine, that crypto will neverdie (x'D), but bob up and down, by turning out to be just another hype in our history books one day, that is still alive, but never changed the world.

    Ya, this is a feature-length discussion. :)
  18. San


    It won't happen before governments get to absolutely control it. If they can't and it starts to threaten their monopoly, they'll kill it. Nothing else.

    Edit: Lost sight of OP a bit there. For some niches it may be permitted because it's just seen as play tokens, not real money. Just don't expect it to really go mainstream unless submitting to Leviathan.
  19. Tass

    Tass Administrator

    There was a change of plans, and I guess "1,000,000 Gamers signed up" is a little off too :) Nevertheless they've collected almost 1.5 Million bucks already, for reasons beyond my imagination.

    Last edited: May 2, 2018

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