By Taylor Margot. Everyone should read this!
SUMOkoin is a fork of MONERO (XMR). XMR is a fork of Bytecoin. In my opinion, XMR is hands down the most undervalued coin in the top 15. Its hurdle is that people do not know how to price in privacy to the price of a coin yet. Once people figure out how to accurately assess the value privacy into the value of a coin, XMR, along with other privacy coins like SUMOkoin, will go parabolic.
Let’s be clear about something. I am not here to argue SUMOkoin is superior to XMR. That’s not what this article is about and frankly is missing the point. I don’t find the SUMOkoin vs. XMR debate interesting. From where I stand, investing in SUMOkoin has nothing to do with SUMOkoin overtaking XMR or who has superior tech. If anything, I think the merits of XMR underline the value of SUMOkoin. What I do find interesting is return on investment (“ROI”).
Imagine SUMO was an upcoming ICO. But you knew ahead of time that they had a proven product-market fit and an awesome, blue chip code base. That’s basically what you have in SUMO. Most good ICOs raise over 20mil (meaning their starting market cap is $20 mil) but after that, it’s a crapshoot. Investing in SUMO is akin to getting ICO prices but with the amount of information associated with more established coins.
Let me make one more thing clear. Investing is all about information. Specifically it’s about the information imbalance between current value and the quality of your information. SUMO is highly imbalanced.
The fact of the matter is that if you are interested in getting the vision and product/market fit of a $6 billion market cap coin for $20 mil, you should keep reading.
If you are interested in arguing about XMR vs. SUMOkoin, I point you to this infographic
I’m a corporate tech & IP lawyer in Silicon Valley. My practice focuses on venture capital (“VC)”) and mergers & acquisitions (“M&A”). Recently I have begun doing more IP strategy. Basically I spend all day every day reviewing cap tables, stock purchase agreements, merger agreements and patent portfolios. I’m also the CEO of a startup (Scry Chat) and have a team of three full-time engineers.
I started using BTC in 2014 in conjunction with Silk Road and TOR. I recently had a minor conniption when I discovered how much BTC I handled in 2014. My 2017 has been good with IOTA at sub $0.30, POWR at $0.12, ENJIN at $0.02, REQ at $0.05, ENIGMA at $0.50, ITC (IoT Chain) and SUMO.
My crypto investing philosophy is based on betting long odds. In the words of Warren Buffet, consolidate to get rich, diversify to stay rich. Or as I like to say, nobody ever got rich diversifying.
That being said I STRONGLY recommend you have an IRA and/or 401(k) in place prior to venturing into crypto. But when it comes to crypto, I’d rather strike out dozens of times to have a chance at hitting a 100x home run. This approach is probably born out of working with VCs in Silicon Valley who do the same only with companies, not coins. I view myself as an aggressive VC in the cryptosphere.
The Number 1 thing I’ve taken away from venture law is that it pays to get in EARLY.
Did you know that the typical founder buys their shares for $0.00001 per share? So if a founder owns 5 million shares, they bought those shares for $50 total. The typical IPO goes out the door at $10-20 per share. My iPhone calculator says ERROR when it tries to divide $10/0.00001 because it runs out of screen real estate.
At the time of this writing, SUMO has a Marketcap of $18 million. That is 3/10,000th or 1/3333th. Let that sink in for a minute. BCH is a fork of BTC and it has the fourth largest market cap of all cryptos. Given it’s market cap, I am positive SUMO is the best value proposition in the Privacy Coin arena at the time of this writing. *
ROI MERITS OF SUMOkoin
So what’s so good about SUMOkoin? Didn’t you say it was just a Monero knock-off?
1) Well, sort of. SUMO is based on CryptoNote and was conceived from a fork of Monero, with a little bit of extra privacy thrown in. It would not be wrong to think SUMO is to Litecoin as XMR is to Bitcoin.
2) Increased Privacy. Which brings us to point 2. SUMO is doing several things to increase privacy (see below). If Monero is the King of Privacy Coins, then SUMO is the Standard Bearer fighting on the front lines. Note: Monero does many of these too (though at the time of fork XMR could not). Don’t forget Monero is also 5.8 billion market cap to SUMO’s 18 million.
a) RingCT. All transactions since genesis are RingCT (ring confidential transactions) and the minimum “mixin” transactions is 13 (12 plus the original transaction). This passes the threshold to statistically resist blockchain attacks. No transactions made on the SUMO blockchain can ever be traced to the actual participants. Nifty huh? Monero (3+1 mixins) is considering a community-wide fork to increase their minimum transactions to 6, 9, or 12. Not a bad market signal if you’re SUMOkoin eh?
b) Sub-addresses. The wallet deploys disposable sub-addresses to conceal your real sumo wallet address even from senders (who typically would need to know your actual address to send currency). Monero also does this.
3) Fungibility aka “Digital Cash” aka Broad Use Case. “Fungibility” gets thrown about a bunch but basically it means ‘how close is this coin to cash in terms of usage?’ SUMO is one of a few cryptos that can boast true fungibility — it acts just like physical cash i.e. other people can never trace where the money came from or how many coins were transferred. MONERO will never be able to boast this because it did not start as fungible.
4) Mining Made Easy Mode. Seeing as SUMO was a fork, and not an ICO, they didn’t have to rewrite the wheel. Instead they focused on product by putting together solid fundamentals like a great wallet and a dedicated mining app. Basically anyone can mine with the most intuitive GUI mining app out there. Google “Sumo Easy Miner” – run and mine.
5) Intuitive and Secure Wallet. This shouldn’t come as a surprise, yet in this day and age, apparently it is not a prereq. They have a GUI wallet plus those unlimited sub-addresses I mentioned above. Here’s the github if you’d like to review: https://github.com/sumoprojects/SumoGUIWallet The wallet really is one of the best I have seen (ENJIN’s will be better). Clear, intuitive, idiot proof (as possible).
6) Decentralization. SUMO is botnet-proof, and therefore botnet mining resistant. When a botnet joins a mining pool, it adjusts the mining difficulty, thereby balancing the difficulty level of mining.
7) Coin Emission Scheme. SUMO’s block reward changes every 6-months as the following “Camel” distribution schema (inspired by real-world mining production like of crude oil, coal, etc. that is often slow at first, then accelerated in before decline and depletion). MONERO lacks this schema and it is significant. Camel ensures that Sumokoin won’t be a short-lived phenomena. Specifically, since Sumo is proof-of-work, not all SUMO can be mined. If it were all mined, miners would no longer be properly incentivized to contribute to the network (unless transaction fees were raised, which is how Bitcoin plans on handling when all 21 million coins have been mined, which will go poorly given that people already complain about fees). A good emission scheme is vital to viability. Compare Camel and Monero’s scheme if you must: https://github.com/sumoprojects/sumokoin/blob/mastescripts/sumokoin_camel_emission_cal.cpp vs. https://monero.stackexchange.com/questions/242/how-was-the-monero-emission-curve-chosen/247.
8) Dev Team // Locked Coins // Future Development Funds. There are lots of things that make this coin a ‘go.’ but perhaps the most overlooked in crypto is that the devs have delivered ahead of schedule. If you’re an engineer or have managed CS projects, you know how difficult hitting projected deadlines can be. These guys update github very frequently and there is a high degree of visibility. The devs have also time-locked their pre-mine in a publicly view-able wallet for years so they aren’t bailing out with a pump and dump. The dev team is based in Japan.
9) Broad Appeal. If marketed properly, SUMO has the ability to appeal to older individuals venturing into crypto due to the fungibility / similarities to cash. This is not different than XMR, and I expect it will be exploited in 2018 by all privacy coins. It could breed familiarity with new money, and new money is the future of crypto.
10) Absent from Major Exchanges. Thank god. ALL of my best investments have happened off Binance, Bittrex, Polo, GDAX, etc. Why? Because by the time a coin hits a major exchange you’re already too late. Your TOI is fucked. You’re no longer a savant. SUMO is on Cryptopia, the best jenky exchange.
11) Marketing. Which brings me to my final point – and it happens to be a weakness. SUMO has not focused on marketing. They’ve instead gathered together tech speaks for itself (or rather doesn’t). So what SUMO needs a community effort to distribute facts about SUMO’s value prop to the masses. A good example i...
Bitcoin, Litecoin or Bitcoin Cash (Gourl.io). All products listed on our website are priced in US Dollars. As Bitcoin has a Volatility price it will show the total amount of BTC to be paid at the time of Checkout. The price will be provided through the exchange rate of Bitcoin to US Dollars rate as per the current market rates. Orders generated ... If you are looking for miners then your best guess would be this team on telegram, they can mine Bitcoin for you, and you will not pay electricity cost, this team on telegram are topnotch miners, but before you contact them make sure you have at least 700$ for your mining Rig set up, I repeat you will not pay electricity cost, and they would build good cost Rig for you and run it for you at ... – Bitcoin Miner Android – Eine zuverlässige Verschlüsselung ist das entscheidende Asset von Kryptowährungen – und das braucht Rechenleistung auch in mobiler Form. Bleibt nur die Frage: Lohnt sich der Einsatz von Bitcoin-Miner-Apps für Android auch für den einzelnen User? Die Blockchain-Technologie ist mit Sicherheit die wichtigste Entwicklung in Bezug auf sicheren Zahlungsverkehr ... Binance becomes the leading Bitcoin SV miner according to the recent reports, right after the biggest exchange ventured into the mining industry and launched its Binance Pool. The exchange however delisted BSV back in 2019 after the huge controversies surrounding the popular BSV proponent- Craig Wright. In today’s Binance news, we find out more. The Mobile Miner application supports Monero, Electorneum and many other virtual currencies. Bitcoin was not yet supported at the moment of writing this article. The iPhone 6 has 25/30 Hash Rate (H/s), the iPhone 8 55 H/s and the iPhone X (iPhone 10) 65 hashes per second. While using the iPhone to mine, the CPU is used at 100 percent and the ... Just recently, the world’s leading cryptocurrency exchange, Binance, ventured into mining, launching its Binance Pool. Now, data has it that it’s become the leading miner of Bitcoin SV. Interestingly enough, the exchange delisted BSV back in 2019, following the massive controversy surrounding the popular BSV proponent – Craig Wright. High quality Binance gifts and merchandise. Inspired designs on t-shirts, posters, stickers, home decor, and more by independent artists and designers from around the world. All orders are custom made and most ship worldwide within 24 hours. Miner du Bitcoin . Dans le minage de Bitcoin seul la première personne qui résout l’équation mathématique est rémunéré, ce qui signifie que les autres auront travaillé pour rien. C’est pour cela que les mineurs se sont rassemblés en groupe pour joindre leur force et obtenir plus régulièrement des récompenses. En Octobre 2019 il est totalement impossible de gagner du Bitcoin si ... You can earn cryptic money by mining, without having to deposit money.However, you certainly don't have to be a miner who has his own encryption. You can also buy crypto by using the Fiat currency (USD, EUR, AUR, etc.); you can trade on a stock exchange like Bitstamp using another crypto (for example: Using Ethereum or NEO to purchase Bitcoin); You can even win by playing video games or by ...
[index]          
Share your videos with friends, family, and the world Install Binance app for iPhone in under 2 minutes with QR code - Duration: 1:32. ... Binance mobil nasıl kullanılır bitcoin al sat #bitcoin #binance - Duration: 7:07. BYİNAN 8,729 views. 7:07 ... Mine Bitcoin on your iPhone. This method allows you to mine Bitcoin easily on your iPhone and any other iOS device. Be aware if you mine Bitcoin on iPhone it will consume a lot of battery, you ... Mining cryptocurrency on iPhone is possible with MobileMiner. Please read our full hands-on for more details and instructions before trying this yourself. ht... This is an educational video on bitcoin mining of binance pool and not a financial advice. #Binance #BinancePool #Binance pool If you want to sign up to Bina... AppValley Link: https://goo.gl/PAhWGk Do you want to know how to mine bitcoin on your iphone? This app allows you to mine cryptocurrency on your phone with n... Binance Tutorial deutsch In diesem Video erfährst du wie man auf der Plattform Binance Kryptowährungen handeln kann und gegen Bitcoins kaufen und verkaufen k... Follow my IG @bitcoinshawty YouTube Live Stream • http://cameleon.live/goLive Link to download Binance ⬇️ www.binance.com/?ref=13605952 Link to Kucoin ⬇️ htt... Binance : https://www.binance ... Quand BFM parlait d'une Bulle BITCOIN en 2013 à 240 USD !!!!! - Duration: 2:56. Labo Crypto 363 views. 2:56. How To Mine Ethereum with Nanominer Nanopool ...