GoldMint’s Cryptoasset to Give Gold the Blockchain Makeover

Cryptocurrency and gold are both valued for their resistance to inflation and preserving real wealth over the long term, but many crypto advocates point to two concerns. The lack of portability and physical seizure of the yellow metal. GoldMint will offer to cryptocurrency investors a 100 percent gold-backed token, hoping to ease these concerns.

Cryptocurrency investors should be interested in gold, since it has stood the test of time and is something to diversify into, if you do not hold some already that is. But securing that gold is likely to be problematic for many people. Also, transporting gold is easier said than done.

With GoldMint’s tokens, GOLD, you can hold cryptoassets in a stable form linked to the price of gold. One GOLD is equal to the price of one ounce of gold on the LBMA exchange. While many researchers have toyed with the idea of a new gold standard, augmented by cryptocurrency and the blockchain, GoldMint is trying to show the world that it is possible. Using blockchain technology, the portability of gold can be enhanced.

But we must take steps to get to the goal of a revamped gold standard. The company’s states their mission is to, “…convert gold into blockchain-encrypted tokens to help owners protect their valuables, to help investors move their gold rapidly and easily from one part of the world to another, and to help companies and individuals hedge their gold against market volatility.”

Physical and paper assets will be used by GoldMint to ensure the persistent value of the coin. The gold reserves will constantly be equal or more than the amount of GOLD in circulation. Buying and selling of the GOLD cryptoassets will come with fees of 5 and 3 percent respectively.

GoldMint have designed a blockchain specifically to realize their vision. At first, the project will be based on Ethereum but in 2018, it will transfer to a Proof of Stake Graphene blockchain. An altcoin, MNT, will be used for GOLD transactions. MNT is the utility token, used for the implementation of smart contracts, and rewarding block creation and transaction confirmation.

Other ways GoldMint differ from other gold cryptocurrency projects is that physical gold and ETFs will be stored in a decentralized, programmable unit. Also, GoldMint’s Custody Bot will assess gold, allow investors to convert physical gold to GOLD at banks, and record details on to the blockchain. The Custody Bot is described to, “innovative automatically identify and store gold jewelry, small ingots (up to 100 grams) and coins, without human intervention.”

The founders of GoldMint predict that, in the next decade, gold will be stored in, traded, and invested using machines like the Custody Bot and that the GOLD cryptoasset will become the trading unit for these operations.

The MNTP token crowdsale will begin on September 20 (09:00 UTC). Early bird bonuses of up to 20 percent are available for investors, scaling down to two percent once 4.9 million of the seven million MNT on offer are sold.

Tokens can be purchased using BTC or ETH. MNTP tokens will then be convertible to MNT on the GoldMint’s custom Proof of Stake blockchain, allowing investors to earn a return from facilitating the network.

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Organizers of Blockchain & Bitcoin Conference to hold a Large-scale ICO Event in Moscow

On September 20, Moscow will host a conference on cryptocurrency crowdsale called ICO event Moscow. The event is intended for those planning to launch their own ICO projects or willing to invest in the field.

The organizer of the ICO event Moscow, Smile-Expo, is an international exhibition company, initiator of several conferences dedicated to cryptocurrencies and blockchain technology. The ICO event is a daughter project of Blockchain & Bitcoin Conference Moscow, the largest specialized event in Russia.

Over 10 speakers are expected at the ICO event Moscow. Presentations will be divided in three sections: for investors, for startups, and marketing analytics. Speakers will include specialists in the field of cryptocurrency, founders of well-known companies that develop blockchain-based software, participants of successful ICOs.

Conference guests will learn about not only marketing analytics but also real-life case studies of high-profile ICO projects as well as receive practical recommendations that motivate to take action.

The main topics that will be discussed at the ICO event Moscow:

  • ICO and IPO: comparison, peculiarities;
  • regulatory framework for ICO;
  • benefits and risks of investing in crowdsales;
  • technical issues during the preparation and creation of ICOs;
  • how to present ICOs to investors;
  • notorious projects: success stories;
  • analysis of the current ICO market;
  • prospects of the industry.

Organizers will touch a wide range of topics to attract as many participants of the ICO market as possible.

Read more about the event on the official website.

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ARToken Platform Captures Blockchain and AR/VR Synergy

Cappasity’s is the first to leverage a blockchain infrastructure to create, rent and sell 3D content. The company hopes to “make 3D digitizing as easy as photography.” With the blockchain providing decentralized and trustless copyright, storage, and content exchange, artists creating 3D imagery can monetize their content and share it via their tokenized ecosystem. ARTokens will be on offer during a September crowdsale.

Cappasity have worked closely with Intel since 2014, developing a 3D scanning software for Intel® RealSense™ 3D cameras. After successfully raising over $1.8 million from angel investors since 2014, the tech company launched its platform and 3D digitizing software in January 2017. Now the company is launching an upcoming token sale to build a decentralized marketplace for AR, VR and 3D content.

The World Economic Forum have noted five forces of blockchain that are redefining the creative economy. First, the use of smart contracts, which has a massive potential to make royalties fairer for creations such as music or even virtual reality worlds.

Secondly, transparent peer to peer transactions directly connect consumer and creator. Cappasity AR/VR Ecosystem will be managed by smart contracts on the blockchain with DPOS consensus, so artists can monetize their content and share it with others. Automatically, they can receive ARTs for the sale or rent of their 3D content. Automatically, they can receive ARTs for the sale or rent of their 3D content.

Thirdly, blockchain technology promotes efficient, dynamic pricing. By tracking the demand for 3D content, it can be priced in ARTs more effectively. Creators can set their prices directly cutting out intermediaries. Also, the blockchain allows micro-metering or micro-monetizing, so 3D content can be rented out as well as sold to others. Finally, the blockchain establishes a reputation system perhaps leading to stronger collaboration between 3D content producers and consumers.

Blockchain and virtual reality will blossom together, before being used more and more in everyday life. AR/VR are driving innovations in medicine, disaster planning and many other areas. Imagine, content creators can benefit from merging blockchain technologies and AR/VR, as their assets can be verified to belong to them, they can receive royalties and smart contracts can be used to design virtual worlds and encourage collaboration.

For instance, Fred Ehrsam, Co-Founder of Coinbase, that blockchain will prove itself in VR before being unleashed on a wider scale:

“I’d guess blockchains will be the full-blown backbone of virtual worlds — the system for currency, assets, identity, even governance — before doing the same in the “real world.” Which is where I think we will end up in the real world eventually; it’s just a matter of which goes first and how long until it’s the case for both.”

For all parties, no matter content creators, app developers, businesses and end users, all copyrights are respected with Cappasity Ecosystem. Cappasity already have released toolkits that make 3D digitizing of real objects available to everyone and their SDK is open to developers to build their own apps based on the platform. Also, they have identified a relevant use case for cryptocurrencies in the emerging AR and VR industries; these industries are projected to be worth $80 billion in 2025

The ARToken crowdsale will begin on 27th of September and you can contribute using various cryptocurrencies including BTC, ETH, BCH, LTC as well as USDT. Funds raised will be used to create an AR/VR Innovation Fund to incentivize developers to create realistic and useful AR/VR applications and the Rewards Fund to reward content creators and active community members.

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Lindacoin Bursts onto the Cryptocurrency Scene

Named after a beautiful and sweet name that almost everyone admires, Lindacoin is a cryptocurrency offering passive daily income. As a new entrant to the scene, the coin is jumping on the popularity of masternodes, best exemplified by the altcoin DASH. By holding a certain amount in their node, users can earn a fixed return for helping to secure the network.

Lindacoin came into existence in July 2017 and offers a return in two ways, through staking and running a masternode. The blockchain is a hybrid model combining proof of work and proof of stake. Like litecoin, a Scrypt hashing algorithm is used.

Masternode holders can expect an annual return of around 99 percent and ensure instant, lightning fast transactions for Lindacoin, abbreviated as LINDA. To run a masternode, you will need to stake 30 million LINDA, with a minimum stake age of 24 hours. Alternatively, you will be able to stake your balance to receive a small return.

At the time of writing, just over 13 percent of the total LINDA supply is locked in 26 masternodes. Masternodes obtain 50 percent of the block reward, which amounts to 7,075 LINDA per block.

The main exchange where you can acquire LINDA is Cryptopia, a popular exchange for small-cap cryptocurrencies. The coin is also available on Yobit and CoinExchange.

Currently, the coin is ranked low according to but there is plenty of potential for this young crypto, as Lindacoin also plans to offer encrypted messaging and private transactions using stealth addresses.

Wallets for Windows, Linux and MacOX are currently available, with iOS, Electrum and Android comptability coming soon.

Transactions are confirmed within one second, so Lindacoin is likely to become hugely popular and may become another Dogecoin, rivalling its market capitalization in the next year or so.

Lindacoin is another fast cryptocurrency used for payments and with a small, but growing, community, it could see signficant growth in the rest of 2017.

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Dash To Host Its First Ever Global Conference

London Event Will Be Held On The Eve of The World Blockchain Forum

Dash, the world’s leading payments-focused digital currency, announced today it will host its first-ever conference, the Dash Conference, set for September 24 at the Oval Space in London, UK. The conference will serve as the precursor to the highly anticipated World Blockchain Forum on September 25 – 26, and cover a wide range of topics including blockchain scalability, governance, regulation, consumer adoption, serving the unbanked, masternode operations, and commercial application. Keynote speeches and panel sessions will also focus on Dash’s path to becoming the future of instant, global payments, the upcoming launch of Evolution, the Dash Debit Card, and the research and hardware tech branch, Dash Labs.

CEO of Dash Core, Ryan Taylor said, “The Dash Conference will be an incredible opportunity to inform some of the most important people in blockchain, business, finance, and technology on the ways we are bringing digital currency out of its niche and into the world of the everyday consumer.”

The Dash Conference will showcase major integrations and reveal new business partnerships to the expected 350 people in attendance.

Keynote speakers include CEO of Dash Core Ryan Taylor and Dash Founder & Strategy Advisor Evan Duffield. Both the Dash Conference and World Blockchain Forum are coordinated by Keynote, the world leader in blockchain events.

Founder and CEO of Keynote, Moe Levin said, “Right now is a critical moment for Dash. As one of the top cryptocurrencies, it is entering a crucial phase in its development. In the last six months the currency has dramatically increased in visibility. With rising acceptance from vendors and shoppers, alongside more regulatory scrutiny, and fluctuations in value. It’s at this time, more than ever before, that the Dash Core community is needed to ensure a prosperous and well-balanced future for the currency. The Dash Conference was created to draw this community together, now ranging from enthusiasts to financial institutions, and to provide an open and hard-hitting forum for moving the currency forward. Keynote couldn’t be more excited to be organizing the conference.”

Members of the Press: please let us know if you would like to attend and we will coordinate free media passes. For other attendees: tickets are available for purchase

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ATLANT Ending ICO Pre-Sale on August 19: Revenue Goals Achieved, Focus Turns to ICO Launch on September 7

Today ATLANT ( announced the successful completion of its ICO presale, raising over $1 million in just a few days, exceeding its revenue objectives. ATLANT is ending its ICO Presale on August 19, 2017 at UTC 00:00.

Investors are welcome and encouraged to participate until that time. Full presale details are available at ATLANT’s website,

ATLANT will now focus on its ICO (Initial Coin Offering) which will launch on September 7, 2017.

“The ATLANT Platform has significant long-term potential to positively impact the global real estate market in multiple ways”, said Julian Svirsky, ATLANT CEO “And the revenue we anticipate from our ICO will help us build out our complete solution quickly, while also creating a global community benefiting from tokenization of the world’s largest asset class.”

The core features of the ATLANT platform provide revolutionary capabilities in terms of security, efficiency and profitability in the global real estate market. ATLANT is planning its platform launch in March 2018.

ATLANT’s blockchain platform provides a secure, tamper-proof system enabling platform users to trade parcels of property without traditionally prohibitive costs and inefficiencies. Its Peer-to-Peer (P2P) transaction features will allow users to bypass intermediaries in rental deals, which will enhance ease-of-use and security for guests and hosts alike, improving user experience, reducing costs, and driving accelerated adoption.

The ATLANT platform will also enable the financial subdividing of individual parcels of real estate by tokenization, and ATLANT will subsequently list them on exchanges via PTO (Property Token Offering), starting with the decentralized ADEX exchange, based on Ethereum smart contracts.

The ATLANT platform will ease transfer of ownership, simplify fractional holding without minimal constraints, alleviate tax inefficiencies, make cross-border transactions simpler, and eliminate the substantial overhead faced in certain jurisdictions due to bureaucracy and unnecessary intermediaries

Starting in December 2016, ATLANT began working with leading experts in finance, real estate, emerging markets and scientific fields to develop the ATLANT platform. Please see the current ATLANT roadmap for further detail on the ICO and platform launch.

For a comprehensive technical and market overview, please see the current version of the complete ATLANT White Paper.

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Creating Space for Investors on the IoT

The IoT (internet of things) is creating a whole new ‘connected’ world.

Every day, new devices are introduced to the marketplace that promise to connect our lives together. Dishwashers, cars, homes, and 3D printers are connected to the internet and provide a level of personal control and access unheard of even three years ago. This complex web of devices has also created a new opportunity for revenue generation, as connected machines can be used for profit, and investors are flocking.

Problems abound, however. The cost barrier for entry is very high.

High-quality machines that can generate substantial revenue often run into the multi-thousands of dollars, and more. Investors are required to create huge front end financing in order to even begin generating income of any kind. Further, a single machine does not necessarily generate revenue unless it is connected to a system for advertising and use. Hence, for investors to capitalize on the IoT explosion, they must not only have enough capital for machine purchases, but must also create points of sale for the machines.

MyBit and the Solution of Tomorrow

One company, however, has envisioned a way to create a new and improved investment vehicle for small scale investors to capitalize on the IoT. has created a platform where small scale investors are able to enjoy the benefits of large scale investment. In very simple terms, individuals are able to pool financial resources to purchase revenue-generating machines. Rather than huge upfront capital investments, a pool of investors can work together to purchase machines that create profit, and then can receive revenue return from those machines in near-real time. The connectedness of these IoT machines makes use and revenue distribution nearly instantaneous.

The system is built on blockchain technology, the new darling of the tech world. The technology creates a distributed ledger system where the information and investment of each party is transparent, and the revenue generated is immediately credited to the investor. Legacy investment companies have centralized business models. These allow profits to be gobbled up by large management teams and infrastructures. MyBit replaces these top-heavy infrastructure models with blockchain, distributing both the investment and the return directly into the hands of users.

A Simple Test Case

Consider, for example, the case of a 3D printer in an orthodontic office. The printer is being rented by the orthodontist in order to create models of patient’s teeth. This creates a shorter life cycle for braces and increases the business revenue. The printer, however, is worth perhaps $100,000, and the orthodontist is paying a hefty rental cost, along with purchasing the cost of the consumables. The machine itself is connected to the internet and provides real time feedback on usage and condition.

Rather than a single large scale investor, the printer is owned by, perhaps, one hundred individual investors who have each invested $1000. Every month when rent is paid and consumable products are ordered, the investors each receive (instantaneously) their portion of the rental payment. The orthodontist is pleased because revenue is increasing, and the investors and pleased with the rapid return on investment.

Plus the sales and marketing are carried out by a local company who does not have to invest the massive up front cost for the printer itself and can focus instead on lead generation.

MyBit empowers the business to move forward by partnering with distributed investors while producing a seamless revenue stream for small scale investors. 

A Unique ICO

MyBit is currently in the midst of an ICO (initial coin offering). The unique benefit of the MyBit ICO, however, is that investor returns are not tied only to the value of the coin, but to the investment the coin has purchased. This means that investors are able to receive almost immediate return on investments, while still holding value in the coin.

The ICO will conclude on August 17, after which the price point of the coins will likely increase exponentially. The company has already signed agreements in both Germany and Dubai, and investment platforms are opening up around the world. The IoT will continue to be a point of revenue generation, as the machine economy grows. MyBit promises to move investors into this space at whatever level they feel comfortable, while maintaining the inherent value of the investment and promoting business development.

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Blockchain Startup Uses Hybrid Intelligence to Disrupt International Finance

Artificial intelligence has been around for a while now. Even though it hardly resembles sentient computers seen in sci-fi movies, it has found numerous use cases in businesses and the sciences. Neural networks and deep learning have made it possible for computers to process huge amounts of data and even successfully mimic human behavior.

Using artificial intelligence for financial markets isn’t news either. Computers processing big data and returning some predictions are among the most popular solutions for professional traders and brokers. However, the efficiency of such solutions can be surprisingly low sometimes.

This all may change if artificial intelligence is combined with the collective intelligence of human beings.

The Collective Intelligence Phenomenon

In 1906, British scientist Francis Galton found himself at a fair where visitors were offered to guess the weight of an ox. With nearly 800 people participating in the lottery, their guesses were fairly different, especially considering the fact that there were either professional farmers and townsmen who knew nothing about agriculture. Surprisingly enough, when Mr. Galton calculated the direct average of their guesses, it turned out to be 1,197 lbs, while the actual weight of the bull was 1,198 lbs.

This instance demonstrates the phenomenon of collective intelligence; with a vast selection of people, their average prediction often proves to be correct, or a close approximation. Most notably, the selection has to include both professionals in the field and those who have no idea of what is going on. If only one of such groups is present, the results will be biased and most likely far from correct.

Collective Wisdom at the Service of International Finance

Even though such an approach has proved its efficiency on numerous occasions, there have been only a few projects that opted to use it in combination with artificial intelligence directly.

One of them is Estimize, a service that gathers market estimations from professional finance experts, and then processes it with its AI system to return a consensus prediction.

The method proved to be quite trustworthy, and, according to the service’s website, is usually at least 74 percent more accurate than data sources commonly used on Wall Street.

The service has been around for more than five years and has garnered considerable recognition within the professional community.

Another notable project is Cindicator, which has gone a bit farther, and uses the collective intelligence of a random selection of people from around the world.

What makes it stand out, even more, is that it uses cryptotechnologies to bring decentralization to the entire process, and lay a foundation for a decentralized autonomous organization where humans and machines work together.

Synergy of Humans and Machines

Cindicator claims that centralization poses the biggest problem for today’s financial analytics. The reason why professional analysis often proves to be wrong is down to the mutual influence of different opinions and isolation of the professional community. Only a handful of professional analysts offer their forecasts and predictions, so the selection of opinions is not very large.

On the other hand, Cindicator uses an app to collect unbiased predictions from people around the world who have different professional backgrounds, education, gender, political views and so forth. This ensures that the selection of forecasters will be sufficiently randomized, and therefore the laws of collective intelligence will come into effect.

Users are incentivized not only by money (which, of course, is still an important part of the model), but also by gamification of the entire process, and, most importantly, by the involvement of forecasters in transactions and investment. This ensures that the forecasters feel their responsibility and in the long run promotes the model of futarchy, which is deemed perfect for decentralized autonomous organizations.

When the predictions are made, artificial intelligence comes into play. It uses various mathematical models in order to make a single and rock-solid prediction as to the outcome of a certain event.

The system has been tested by a score of banks and hedge funds and proved to be much more reliable, inexpensive and accurate than traditional financial reports compiled by individuals.


The combination of human and machine wisdom could prove especially valuable for traders and other financial experts as they deal with the most volatile ecosystem where a single mistake could cost millions of dollars.

In sci-fi novels and movies, a motif of a merger between the human mind and artificial intelligence is commonplace. It is suggested that it could create a brand new form of interaction, and bring about processing efficiency never seen before.

While this might be only the first steps in this direction, such a symbiosis has already proved that it can hold a great promise for the world of tomorrow.

Ethereum-Based Startup ‘Indorse’ Seeks to Disrupt Reputation and Personal Branding Online

Indorse, a new social platform built on Ethereum, backed by blockchain business accelerator Coinsilium, is changing the landscape of social networking for professionals. Through a disruptive approach of peer-to-peer validation of people’s professional reputation and branding, Indorse is offering what other platforms are unable to provide to users; ownership of data and true social collateral which attests to the validity of their accomplishments.

Already having met the Pre-sale limit of 17,000 ETH within a matter of days, Indorse will commence their full-fledged token-sale on August 8, 2017.

Indorse is led by a team of experienced blockchain entrepreneurs, engineers, consultants and fintech experts who believe that the existing model of how people interact with online social networks is deeply unfair towards the end user and flawed in how information is accurately portrayed.

COO Dipesh Sukhani comes among the ranks of experienced Big Four consulting veterans bringing financial and tax auditing experiencing to the table – a particularly valuable asset in the world of blockchain startups holding token sales.

“Networks such as LinkedIn (and of similar service offerings) have never been able to pass the litmus test of accurate sharing of information [leave aside letting its users also benefit from the growth]. One cannot simply rely on the information put-up; every single claim has to be tested separately, which means time costs! As an ex-Big four consultant, I was always on a hunt for my clients to write me testimonials, so as to add that extra edge to my credentials. We at Indorse make that step the first stepping stone, ie, community based endorsement.”

Unlike traditional social media platforms such as LinkedIn, the Ethereum-based Indorse network aims to empower users with their data and reputation management, allowing anyone to profit from sharing their skills, activities and accomplishments on the platform.

Indorse was among the first blockchain startups to utilize the Ethereum Name Service (ENS) to help combat phishing and fraud scams which have plagued some other high profile token sales in past months. This service enables an easily identifiable and much more secure set of human-readable characters to be used as Ethereum token addresses.

As a reaction to fraud and spam have plagued many popular social networking and professional career websites, the Indorse team has taken a fresh approach to personal and professional branding enabled by smart contract functionality on the Ethereum blockchain.

Users can share information about themselves and they stake their funds, or IND tokens. In the event a person in their Indorse network is able to verify the claims made are true, both parties are rewarded. If either party makes a false claim, they are penalized, thus incentivizing true representations of one’s self on the network. Users are able to leverage this branded and verified identity of themselves on other networks as well, thus creating a usable asset for anyone in the community.  

Compared to other blockchains, Ethereum provides the compute engine capability and transparency needed for a decentralized economy to succeed and incentivize its own growth. The platform will be integrated with a number of decentralized applications (DApps) such as; InterPlanetary File System (IPFS), uPort identity system, Attores Certificate Issuance Platform, Truffle, Spectrum and Status.

“Indorse will allow users to profit from sharing their skills and activities on the platform via reward tokens. We envision a serverless, decentralized future, where the users will build their profiles and profit from their reputation. This future will need a decentralized platform where others can judge the quality of a person’s profile not just by where they have gone to school, but what they have actually done in their professional and personal lives.”

The Indorse white paper is available for download on the website and any questions you have for the founders and team of Indorse can be directly asked on their Slack channel.

What is Elastic (XEL) and is it a Good Investment?

Cryptocurrency investors are truly spoilt for choice these days. Not only are there around 1,000 existing digital currencies and assets but there are also new digital tokens launching every week as the Initial Coin Offering (ICO) market is experiencing a massive boom.

To make more sense of this new asset class, BTCManager regularly highlights new cryptoassets to gauge whether or not they could potentially turn into profitable investments for its holders. In this article, you will be introduced to the Elastic Project and its native currency the elastic coin, which carries the ticket XEL.

What is the Elastic Project?

The Elastic Project is an open source project that aims to develop the first secure, trustless, decentralized, programmable supercomputer. A supercomputer is a computer that performs at or very near the highest operational rate possible for computers.

Elastic has been in development over a year and provides the infrastructure for a decentralized supercomputer that can carry out computationally heavy tasks over the Internet. The infrastructure is powered by a cryptocurrency, called elastic (XEL), which allows individuals to buy and sell computational resources. Individuals or companies who require computational resources can model their problem using the elastic programming language and broadcast it to the Elastic network together with a certain amount of elastic coin.

Elastic “miners” (node owners) can then offer their computational resources for a share of the offering elastic coins, and their reward will depend on the amount of work each miner has to contribute in relation to the other contributing miners who are participating in solving the problem. This allows individuals and companies to purchase computational power supplied by a range of GPUs and CPUs using elastic coins.

The Elastic Project ICO

Elastic held an initial coin offering in 2016 where it distributed elastic coins in exchange for what the project referred to as donations, accompanied with the disclaimer: “Please do not consider Elastic Coins (XEL) to be shares, futures, certificates, securities, bonds, treasuries, profit-sharing agreements, or anything similar. That is, do not expect any future rewards for your donation. Donating just means supporting the development of an open source project.”

The ICO lasted from February 29, 2016, to August 19, 2016, and managed to raise around 710 BTC for the total supply of 100,000,000 XEL.

The Elastic Coin

The total supply of elastic coin is 100 million, and no new coins can be mined or minted. Currently, the total circulating supply is 78,054,996 coins. The cryptocurrency started trading on exchanges on June 24, 2017, and can currently be bought and sold on Bittrex and using the Heat Wallet with the former processing the lion’s share of the currency’s $500,000+ daily trading volume.  

Since elastic coin became tradable on exchanges, the price has started with strong volatility and peaked at $1.32 on June 24 and spiked again on June 25 to $1.20 and has since trended downwards to currently stand at around $0.32 per elastic coin.

Elastic’s Big Opportunity

The big argument as to why you should look into elastic coin as an investment is that the market for supercomputers is growing at a staggering rate and creating a fully-functioning decentralized supercomputer that gains adoption by key institutions and individuals in this market could bode very profitable for the Elastic project.

According to data from, the worldwide revenue generated by the supercomputer market was estimated to be worth around $3.5 billion in 2016. By 2020, the market is expected to be worth $4.4 billion.

If Elastic managed to establish itself in the very competitive supercomputer market, even as a smaller player, the profit potential would be very high. If the market welcomes a decentralized supercomputer with open arms, then Elastic could turn into a mega project, provided its team manages to deliver.

Issues with the Elastic Project

However, the Elastic Project faces several issues that need to be acknowledged by potential investors.

Departure of Key Project Member and Team Changes

A leading figure in Elastic’s team with the pseudonym Lannister left the project, which has led to inaccessibility of the project’s ICO funds and scam accusations on the BitcoinTalk Forum to increase.

According to a blog post on the Elastic Project website, “Lannister dropped out due to health reasons, the funds collected for the project were frozen (multi-sig wallet, so Lannister was needed to sign off, but was no longer available) so the project was in deep doo-doo land. With no money and lots of development work to be done, it looked like Elastic was finished.”

The post continued to state that the project leadership has since been taken up by a developer with the pseudonym Evil-Knievel “who said he’d bring the project to the stage where we had a viable product.” He also managed to persuade another developer named coralreefer to continue to work on the project “for the sheer joy of it.”

Together, these two unpaid individuals are working to develop the world’s first decentralized supercomputer, which means they are competing with the likes of Hewlett-Packard in the overall supercomputer market as well as other well-funded projects in the cryptocurrency space who are developing similar platforms. This is something that would make any investor somewhat skeptical about whether the team can really pull this project off.  

An Experimental Non-commercial Project

Furthermore, the Elastic Project refers to itself as an experimental non-commercial project, and it specifically stated in its ICO that the funds raised were donations. While there is obviously nothing wrong with launched non-commercial projects involving cryptocurrency, from an investor’s point of view that raises skepticism. If the project has no clear plan on how to grow as a business (and by all means, it is a business) and does currently not really intend to be more than just an “experimental project,” then its future business success is brought into question.

Should You Invest in Elastic?

Given the nature of this project, which focuses on serving individuals, institutions and companies in need of increased computational power, this is not a cryptocurrency that screams mainstream adoption. This coin serves a specific purpose for a specific target group.

There is also ample competition in this space, which means Elastic’s (unpaid) developer team needs to not only create a superior product but also have the required funds and the right people in place to market their product to succeed.

Furthermore, the developer team has decided to stay anonymous. While that may share the spirit of Satoshi, investors do not like that at all. Investors want individuals they can reach out to that can be held accountable for a project.

On top of that, the Elastic Project considers itself to be an experimental non-commercial project that “doesn’t have any financial model or clear marketing plan.” While the value of a project and, the value of its cryptocurrency, is determined by the marketplace and its business plan, investors will likely be hesitant to back a project that has no clear plan on how they will go about building a sustainable platform that will outpace its competitors.

The project’s missing road map combined with the fact that it is run by unpaid developers who are working on it “for the sheer joy of it,” will evoke skepticism from investors; it takes more to build a business than an innovative new technology. It also takes funding, which will be difficult if the team decides to remain anonymous and it takes mass user adoption. For the latter, you need a strong sales and marketing department, which the project currently does not have not does it have the funding to set one up.

None of the points mentioned above bestow much confidence in the future of elastic coin as an investment. While the project is highly interesting and it is clear how it could add massive value to its target market, it is unlikely that the wider cryptocurrency investors community will pour serious amounts into this new cryptocurrency anytime soon.