3 main fears that investors have towards new cryptocurrencies and does Telos coin pass them (Founder/Use case/Collateral)
What are three main fears that investors usually have towards any new cryptocurrency, or, what things you should look at when considering investing in to a new cryptocurrency?
I would say they are following:
- Who is CEO/Founder of cryptocurrency?
As you might have noticed, it seems that most new cryptocurrencies are either intended to be right from beginning a Scam where the founder at some point sells all hes coins and runs away, never to be heard of again, or ends up to same situation regardless.
Therefore first thing you need to check is who or whom are behind the new cryptocurrency. Are these people known at all, do they have public profiles, and are they publically findable?
Especially if they are publically findable with some history, it is much less likely that they would intentionally be running away. Sure, they can still give up and dump sell their coins, but at least they probably do not intend to do so right from beginning, unlike some developer whos name you cant even confirm.
So what about Telos then, How does it fare against this fear?
CEO/Founder of Telos is Pascal Papara. And as it happens to be, he is very easily googlable. He has been very active in Amiga computer community and if you go and send a message to any Amiga Forum asking who Pascal Papara is, you will get an answer.
He also has a history of having made products before and is also still selling these products, like for example, a physical product of his called Indiego RetroConsole which maybe is not even close to being as popular as RetroNES, but it does keep selling, and have been selling for some time already, and also had a succesful kickstarter campaign in 2016, selling hundreds of them.
Therefore, I would say, Telos passes the first fear with bright colors.
2. Usability of a Cryptocurrency.
Even if the Founder is trustworthy, next fear is if the cryptocurrency does not have any use case. For if there is no use for the cryptocurrency, then there is no basis for it to succeed either, in which case even if Founder was in good intention, he might just give up and dump sell his coins anyway.
How about Telos again?
This in my opinion is the strongest case for Telos. For thanks to CEO/Founder Pascal Paparas history, he has several pre-existing products that he either already have, or is planning to tie into Telos. I already mentioned you briefly about his Indiego RetroConsole, but that was only the tip of the iceberg.
As I already mentioned, Pascal Papara is very well known among Amiga Users. This is because he have been delivering useful products for Amiga users. And because I am Amiga user myself, I have been following Pascal Papara for years already, and therefore it is much easier for me to grasp hes vision since I have seen all these pieces form in time, but it might be bit difficult for you to see the whole picture, because you might be hearing about these pieces for a first time only. But let me try anyway to give you some brief idea.
My personal greatest interest has to do with Pascal Paparas Indiego Appstore. Reason why I am so interested in this part is, because I have used this Appstore to release some of my own made free games. For both to use this as a chance to market my own games, and also as a proof to you, here are direct links to windows versions of two of my games:
Help My Cat! — http://indiego.rocks/file/downloadApp/35d37e15103b435a91255650420131c3
Aibot — http://indiego.rocks/file/downloadApp/197117a975ca993c7bf8f2dfae55b010
You could also download the Indiego Appstore to your computer and browse these games in much more interesting way where you would actually see some pictures of the game already before downloading them, for the point of the Appstore is that you would download this Appstore application to your machine and use it to browse through available games that way, and these direct links are provided just for convenience so that if someone wants to share a direct download links to their products, without people needing to install the Appstore, they can.
What is special about these games regarding this text is, that first one have been released through Appstore in already 2014, while the second one is my latest game release from about a month ago.
You can also check longplay video of that earlier game from Youtube. there is a link in videos description to more download links. This was just to show you that Indiego Appstore have existed already for some years.
But obviously you might now wonder what does this Appstore have to do with Telos then?
Point is that currently Appstore is using this practically points system, that you can buy 100 Indiegocoins (=points) for 1 Euro, and then you can use these points to buy games from Appstore. However, Pascal Paparas plan is to add Telos coin to Appstore.
From customers point of view this is very small change. They have already got used into buying Indiegocoins (=points) to buy games from Appstore, now they will just be buying Telos instead. So very small change.
True, Indiego Appstore might not be very big, not even 1 percent of Steam, but it is already for some years existing Appstore where you can buy actual stuff with your Telos coins, and this will happen very soon.
Okay, so Indiego Appstore will start using Telos, and there is a real place to use your Telos coins already to buy stuff. But this doesnt end here.
For then comes the before mentioned Indiego RetroConsole. For naturally since this too is Pascal Paparas project, he have for a long time now already been putting it so that Indiego Appstore comes preinstalled in those RetroConsoles. You buy that Console, and then you can handily buy more games to your Console using Appstore, where you will be using Telos — therefore — more Telos being used.
And not only that, since on top of that Pascal Paparas original plan was to use those RetroConsoles as Masternodes for Telos, idea being that “You get paid to play”.
And then if you are running out of storage space in your RetroConsole, you can always buy more cloud space with your Telos from Pascal Paparas, once again pre-existing, Amicloud service.
In addition to that, he also has hes own Dropbox equivalent. It might not be as good as Dropbox otherwise, but it has its points, like you are able to share a folder between several different machines, like you could be sharing a folder between PC, Mac, Linux and Amiga. You cant do that with dropbox, so it has its points.
One of the other upcoming things (yep, there is more than I mention here) is his Mining service. I am not familiar with this one, since it is a new thing for me too, but if I have understood right, it is some sort of Mining service where you can buy hash power with discount by using Telos, making it possibly the cheapest way to buy hash power for mining.
Although I am not mentioning all the use cases here, this should already give you pretty good idea why use case is definetily not a fear in Telos coin.
3. Increase of Collateral
This has only to do with cryptocurrency types that have masternodes. But one of the biggest fears many masternode runners have ran into countless times, is the fear of all mighty increase of collateral.
This means that when you set up your node, you might have needed to put only 1000 coins as collateral to run it, but when coins value starts decreasing, then the devs decide that to fight against inflation they increase the collateral to for example 10 000 coins. This is artifical way to increase the price of the cryptocurrency because this forces the current node runners to either buy enough coins to run their masternodes or drop them. This is also usually a sign of a cryptocurrency about to fail, so no wonder investors are so afraid of this and want to know in advance when collateral change is planned and by how much, to being able to predict if it is done logically or if cryptocurrency is about to sink.
And what about collateral in Telos then?
Well, good news, for Pascal Paparas comment in discord channel regarding collateral change was about “I believe coins value should come from its use case, not from increasing collateral”.
However, this still does not mean that this could not happen, for while CEO/Founder is against collateral increase, Telos is actually a democratic coin, and hence investors can decide to vote about it. And if everyone else votes for the collateral increase, then there is nothing Pascal Papara can do about it.
So for this last fear Telos cant fully pass it, but I would say that it seems it is unlikely to happen, and even if it does, at least it wont happen just because some single one person decides so, but you will know about it well before it happens, and you will have a vote on it.
I myself have already invested in to Telos, but to find out more about Transcendence / Telos, i would recommend reading MightyMickes short article about Telos in steemit.com: https://steemit.com/cryptocurrency/@mightymicke/transcendence-blockchain-telos-opportunity-for-safe-investment-and-passive-income
In addition, you can also check Transcendence / Telos official website: https://teloscoin.org/
Or you could even join the Discord Channel to see what is happening right now: https://discord.gg/e99fbR?
Aug 29 update: Regarding the first fear (dev running), Telos Coin Founder, Pascal Papara, have now been verified by KYD: https://review.kydcoin.io/teloscoin/
