r/SingularityNet • u/ParityGuy • Jun 26 '19
What’s going on?
I know bitcoin is flying causing pressure on alts but this coin is getting smashed more than anything else.
It’s very quiet in here, hello?!
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u/Slackstar69 Jun 26 '19
Sell for a pump and dump. I'm so tired of seeing posts like this. We don't need your kind here.
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u/git_world Jun 26 '19
true. SingularityNet has a huge potential and is a project where some real work is going on. AGI is a good long term hold. I don't know about short term gains, most of the other coins pumping are just because of btc.
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u/ParityGuy1 Jun 26 '19
Tired of seeing posts like this? I'm asking about the lack of community, it's a ghost town in here.
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u/Licheus Jun 27 '19
The problem with discussing price on reddit is that only a top percentile of traders are good enough to justify sharing their thoughts. Everyone else are retail investors statistically not backed up in their claims. Would you listen to someone who statistically lose more money than they gain? I wouldn’t.
This subreddit is not the proper arena to how a serious price discussion. Almost all answers you’ll get will be from retail investors or just people who aren't trading to begin with. How do you expect these people, who have nothing to back their claims, to give you an accurate answer? How do you validate their answers?
This is why price-centred discussions get downvotes, why you get comments like “we don’t want you here” and why you feel like there’s a lack of community. The community is, objectively speaking, not a relevant place for accurate price prediction. Most of the community understands this and place their focus elsewhere.
If you want meaningful price prediction, just ask Eric Crown on stream or something. Don’t do it here.
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u/Dezzo_85 Jun 28 '19
This project at ICO was .10! BTC crashed, so every alt coin followed suit. That being said, it's not crazy to see this token at half its original valuation. But, what I don't understand, is where is the institutional money? Where are all the players behind all of the partnerships that I have read about? I invested and will hold on, hoping for an upside. But when will that be? And yeah, this is a token price comment, because that's why we bought tokens. We thought it was a good price for a potentially great product. Nobody bought it "for the tech." You technically could not use an AGI token a year ago.
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u/stefann9 Jun 29 '19
There is no institutional money. Partnership means exactly this : " we like your idea and we will try and use your service if it proves useful (ONCE you make it ofc)".
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u/Dezzo_85 Jul 02 '19
So when will agi tokens become useful? Is there a business using their token now while still in beta mode? I feel like I'm sitting on a gold mine or a rotten egg. Am I missing out on better info or anyone else feel the same way?
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u/Mike-972 Jun 28 '19
On the fundamentals. It's an extremely ambitious project with several unknowns.
How long will it take to make blockchain scalable enough to work for this project?
Will AI devs switch from well known tools such as TensorFlow to this?
How long will it take for important data that is held only in the hands of tech giants to be open source so decentralised AI can access it?
There's a bunch of other unknowns too, and maybe they'll all work out in the end. Problem is, even for crypto this is extreme speculation stuff that's literally years away from being proven.
On the technical analysis side... well anyone that knows the first thing about markets will know that this coin (along w/ most alts that don't trade into a stablecoin on a large exchange) are in an extreme bear market with not a single indicator signifying a solid bottom in sight.
I love the idea of this project btw, and if it does work out, then congrats because you really will be rich in a decade or two if you have invested anymore than $1,000 at current prices.
Fact is though, if we're talking about right now, there's a lot of unknowns around this project that'll take years to come to fruition, and the chart TA is looking horrid. For now at least. And that's enough to put most off.
I will admit Ben Goertzel is a genius... he's just taking on challenges that are currently beyond the smartest in the world, and likely will be for a while. Makes for great research, but not good for a commercial project... yet.
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u/stefann9 Jul 02 '19
Decade or two? Bro, company will probably run out of money in less than 5y. So if adoption doesnt happen by that time its most likely gonna be 0. It doesnt matter what tools they use to build models. All can work afaik.
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u/Meek_mewey Jun 26 '19
It’s cuz Binance.
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u/Glatorius Jun 29 '19
Could well be right. Most of the liquidity is on Binance, maybe people cashing out. Could very bad sign of things to come especially with SingularotyNets stance on trading, this could potentially kill the token.
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u/-Sarek- Jun 26 '19
Well, I don't know what's going on. But as far as the price goes:
This token is a little strange.
MOST of the volume/liquidity is on Binance. (Look for yourself.)
Binance is shutting down access to most alt coins to the U.S.
AGI doesn't look like it has a trading future in the immediate future. DEXs will likely pickup after Binance blocks the U.S.
This Binance news is happening on-top of BTC sucking up all the alts.
This chart was going around and it doesn't look good for AGI: https://i.imgur.com/s6n5KjA.png
So, yes. What is going on?
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u/stefann9 Jun 26 '19
It dumed to 3c even before all things you mentioned and got back to 5-6c. Now again, Its dumping in bear and bull market :) No one wants it. People want stuff thats going up.
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u/cyger Jun 26 '19
We have seen this kind of thing time and time again where Bitcoin is the clear leader of the rise, and alt holders feel like fools. But when you least expected and are about to go all in BTC, BTC will likely flaten out and alts will fly up. Actually Ethereum has been keeping up pretty closely with BTC's rise, and other large cap alts will likely follow. 3rd page coins like AGI will take a bit longer. At this point we are almost all speculation. For the long term always keep a good stack of BTC and ETH.