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Showing 19 of 19 results by EncryptKnomes
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Topic
Board Announcements (Altcoins)
Re: Plutus (PLU) — Earn crypto for making debit card payments!!
by
EncryptKnomes
on 20/05/2019, 13:40:00 UTC
When will the PlutusDEX be available again?
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Topic
Board Altcoin Discussion
Re: Are Stablecoins A Necessary Evil?
by
EncryptKnomes
on 15/04/2019, 16:05:59 UTC
pitifully they are necessary !, but tether should leave the market, there are other more transparent establishments like TrueUSD ... although the coins backed with fiat money is not the best! (it is as if it were the gold backed dollar), if the fiat begins to disappear, will they remove that support and print coins in an unlimited way? Is the story going to be repeated? ... I think a stablecoin backed by cryptocurrencies is better (it can be in bitcoin or another strong crypto) and that it can be verified in the blockchain

A gold-backed stablecoin would be amazing
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Board Altcoin Discussion
Re: Could Tether Bring Down Bitcoin?
by
EncryptKnomes
on 12/04/2019, 11:55:30 UTC
Am still trying to figure out the connection between Tether and Bitcoin. I do not see the reason it should bring down bitcoin in the first place. Bitcoin is already established. I don't think the price is controlled by any other coin, rather it has some level of effect on other coins.
[/quote]

https://www.bloomberg.com/news/articles/2018-06-13/professor-who-rang-vix-alarm-says-tether-used-to-boost-bitcoin
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Board Altcoin Discussion
Re: Are Stablecoins A Necessary Evil?
by
EncryptKnomes
on 12/04/2019, 11:54:03 UTC
They are not evil, we really need some stable coins on this market. It is a pretty great thing if you want to stay out of the market, but you need you funds to be ready to invest directly from an exchange. The only thing I do not get, do we really need 10 stable coins?

I agree stablecoins are necessary, but are they actually backed by the dollar and stable?
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Board Altcoin Discussion
Re: Are Stablecoins A Necessary Evil?
by
EncryptKnomes
on 12/04/2019, 08:50:45 UTC
I do not consider stable coins to be evil in any form. Stable coins are very necessary for us, because they serve the activity of a real cryptocurrency. In fact, stable coins are not full-fledged cryptocurrency, they have only a cryptocurrency shell, but in fact they are a digital copy of the currency of a particular state that they represent.

Agreed, an important difference to note. However, the article is saying that means they are inheriting many of the negative attributes of regular fiat currency which could be bad for the crypto ecosystem as a whole.
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Board Altcoin Discussion
Topic OP
Are Stablecoins A Necessary Evil?
by
EncryptKnomes
on 11/04/2019, 08:53:09 UTC
"Fiat-backed stablecoins are therefore rarely actual cryptocurrencies, which causes them to inherit their main characteristics and shortcomings from the centralised banking system. Ultimately, they function in the same manner as fiat, backed by what amounts to an IOU."

Danial Daychopan wrote a short article linked below that has got me thinking. Are stablecoins bad for the cryptocurrency ecosystem because they are essentially fiat in digital form, or are they beneficial as they provide stability in an extremely volatile market? Curious to hear your thoughts, give it a read and let me know your angle on it.

https://medium.com/@DDhopn/stablecoins-3b93b4f1ddc5
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Topic
Board Speculation (Altcoins)
Re: Will the Crypto market collapse
by
EncryptKnomes
on 14/12/2018, 16:29:11 UTC
The market will definitely not collapse until more advanced technology replaces cryptography. And this will not happen in the next 100 years. Similarly, the cryptocurrency will not disappear. I think the market is at the stage of youth and it will have a great future.

I completely agree, still far too early for people even to comprehend the significance cryptocurrencies could offer. Quite a few project to emerge in 2019 that will reveal some of its potential.

Got my eyes on Plutus, they're fulfilling the "currency" aspect of cryptocurrencies by enabling users to spend their crypto anywhere in the world that accepts visa or mastercard (like 40 million stores or something) using a card or tap&pay https://plutus.it/ Great prospects to come imo.
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Board Altcoin Discussion
Re: Do you care about product?
by
EncryptKnomes
on 14/12/2018, 16:19:05 UTC

I only invest in the coins that are backed by a promising product. e.g. Plutus is a crypto payments platform that lets you spend crypto anywhere in the world that accepts visa or mastercard (40 million stores). It's a bit like a better decentralized version of tenx or MCO, big potential. But they have classified their coin as a utility token since day as it actually adds real value to the project (its used for loyalty rewards) which is why I have faith long term. I will definitely be using their platform when available Q1. https://plutus.it/
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Board Altcoin Discussion
Re: Most alts are worth Zero
by
EncryptKnomes
on 14/12/2018, 16:10:30 UTC

Any project where the cryptocurrency adds no value to the project is sure to lose value, look for projects that attach real use-cases to their coins. Been following Plutus for a while and they have made sure from the start that their coin is classified as a utility token. Project is enabling people to spend cryptocurrencies at over 40 million stores without the need for merchant adoption, should be ready in 3 months time  Smiley the token is a reward like air miles for using the service. https://plutus.it/
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Board Off-topic
Re: will bitcoin give surprise, ??
by
EncryptKnomes
on 14/12/2018, 16:04:12 UTC
The main thing is that this surprise was not negative and the price of Bitcoin does not roll even lower. Everyone is waiting and believe in a miracle)
Why everyone think that correction is the surprise? I think that it is the normal behaviour of the market, fallen in price after a huge growth.

I expect it will fall further but long term I have faith. Some cool projects emerging next year which i'm excited to see, hopefully can take cryptocurrencies to the next stage as a usable asset instead of a store of value. Plutus will be dropping a crypto payments app that lets you tap into visa and mastercard infrastructure, makes crypto usable at 40 million stores worldwide which is pretty crazy. Until we have projects like this that fulfils the "currency" part of cryptocurrency we'll probably lose mass interest for a while.
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Board Altcoin Discussion
Re: My First Post
by
EncryptKnomes
on 09/11/2018, 15:57:25 UTC
welcome to the community Smiley

1) my first bit of advice would be to always do your own research instead of just going off of what people say online
2) best things to research about a project is the whitepaper concept, the team, the roadmap, and how far along they are (I'd rather go for a cryptocurrency with a working product like Ethereum, Plutus, Stellar etc. than the ones who only have a whitepaper as they tend to be more legit)
3) trading is not easy, it takes a lot of time which I don't have (crypto comes 2nd to my actual work). I do however have faith in crypto so I prefer to invest and hold long-term
4) Do keep your coins somewhere safe and secure (best option is a cold wallet), centralized exchanges are not liable for anything that goes wrong
5) Don't chase the cryptocurrencies that have just skyrocketed as tempting as it is
6) risk management is the key

I don't know how much you know already but this is just a few that popped into my head, i'm sure the rest of the community will have some better pointers Smiley
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Topic
Board Altcoin Discussion
Re: Strategy on This market
by
EncryptKnomes
on 09/11/2018, 15:43:51 UTC

I'm just gonna hodl, learn, and look for new projects that can help me out in the future. e.g. Found Plutus who let you convert from crypto to fiat instantaneously and with zero fees so that next bull run I can take some out without the crazy 4% fees. https://plutus.it/
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Board Altcoin Discussion
Re: white paper. !!
by
EncryptKnomes
on 09/11/2018, 15:26:03 UTC
A well written white paper identifies a gap in the market and how this new product/service will be developed.

A strong team translates this white paper into a reality, which very few actually manage to do.

check out both to identify projects that will be successful, Plutus are one of the very few projects in my portfolio that have gone from white paper to a live beta version, they are in essence a crypto payment platform that lets you spend crypto in-store, anywhere that accepts VISA/Mastercard. Unlike competitors, they have created a decentralized version of the service and its cheaper (hence the gap in the market). https://plutus.it/
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Board Speculation (Altcoins)
Re: The whole market is red, but is it worth panicking now?
by
EncryptKnomes
on 09/11/2018, 09:50:07 UTC

I don't think i've ever panicked about the crypto market Grin have faith. If you are going to buy or sell crypto you can do it for no fees using the PlutusDEX at the moment, the exchange is only there to facilitate cryptocurrency payments so they are not charging at the moment. https://plutus.it/dex
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Board Speculation (Altcoins)
Re: Don't panic sell
by
EncryptKnomes
on 09/11/2018, 09:34:55 UTC

Wise words, if you are gonna sell to fiat tho, the PlutusDEX exchange is doing for zero fees at the moment and its basically instantaneous https://plutus.it/dex
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Board Altcoin Discussion
Re: will humanity stop using cash
by
EncryptKnomes
on 31/10/2018, 10:40:37 UTC

I think cryptocurrencies will definitely become widely accepted currencies but there is no way fiat currencies will ever die out. That's why I'm looking for long-term projects that bridge the two worlds because I reckon they'll be most successful. For example, Plutus is letting people purchase using crypto at any place that accepts VISA/Mastercard, crypto combined with the existing fiat infrastructures. Cheesy
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Topic
Board Speculation (Altcoins)
Re: Very soon we will see a new wave of market growth!!!
by
EncryptKnomes
on 31/10/2018, 10:30:28 UTC
I completely agree, there are so many new projects out there being developed that could help bring mass adoption. e.g. Plutus developing a debit card that lets you pay at any NFC enabled terminal in the world. As soon crypto can start being used as an actual currency we will see crazy growth.

https://t.me/plutus_group
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Board Archival
Re: How to earn altcoin every days?
by
EncryptKnomes
on 31/10/2018, 10:17:03 UTC
I'm waiting for Plutus crypto rewards program to be implemented, can earn up to 3% of crypto to fiat transactions back in the form of PLU (their native token) and currently trading on their platform is fee free. PlutusDEX is in live beta now https://plutus.it/dex
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Topic
Board Altcoin Discussion
Re: How do you learn about new altcoins?
by
EncryptKnomes
on 31/10/2018, 10:05:02 UTC
I go on ICO calendars to find the brand new coins or scroll through coinmarketcap's and do a bit of random research. Plutus is my most recent find, they're introducing cryptocurrency payments at 40 million+ stores worldwide, it's like a decentralized version of TenX. Telegram is also a pretty good place to find out more about a project/alt coin https://t.me/plutus_group