Writing about ICOs and cryptocurrencies, due to the fast-paced nature of the markets and how we can see literally insane levels of growth or depression, it’s easy to become solely focused on short-term strategies and probabilities.
Just like every romantic encounter can produce a child who grows into a billionaire or a janitor, every ICO is creating a company or product which must now navigate its way into the world. In this three-part series, the author makes predictions on a few ICOs he believes will stand the test of time.
Often during this series, you will notice that the author is an active investor or participant in the thing he is writing about. We hope you keep this in mind when reviewing all forward-looking statements from the author, who is not a registered financial advisor nor wishes you to strictly follow his advice instead of your own intuition.
Looking at the SONM charts this morning, the author was surprised to learn it was trading at just about 8 cents each. Had to pick up a few, but not so many that he is locked into a position, or potentially misses out on cheaper buys in coming turbulence. Since purchase, price has risen about .0001 Eth, and it’s hard to see where it will go from here. Price is not the reason the author is mostly interested in SONM, however, at least not while it is in Alpha stage. The author thinks that long-term, SONM tokens will have an extremely high value for industry players that require them. Their model threatens the likes of Amazon AWS, Digital Ocean, and even Google Cloud Compute. As the author wrote in his initial analysis of SONM:
These corporations are able to offer affordable rates through scaling. But what if the scale was market-driven, infinitely expandable and downsizable, and could be contributed to by most devices in the world? And what if you, the daily user, could sell your unused computing resources to a massive decentralized network in order to offset your broadband and other costs, or even to profit? That’s the idea behind the Supercomputer Organized by Network Mining (SONM): a global, decentralized, incentivized cluster of computing power, and one of a few promising plays in the distributed computing market.
The goal is to have around 100,000 SNM out of the total 444 billion. The author is still in the acquisition phase, so there is a profit-taking order placed at .001 Eth per SONM. In the event of a spike, a 400% return is acceptable, and the author can simply retain 25% of the tokens for later use. Because on the long scale, this is the sort of thing that will actually have value. SNM tokens may be trading cheaply now, but so were NEO shares not long ago.
Before SONM will start to snowball in value, it will need to launch an actual product. Their alpha launch is said to be a bit messy, requiring a Docker installation for miners, which is unusual but probably worth the excess hassle.
Disclaimer: This author has invested a small amount in SNM tokens. Do your own due diligence on any information received from Hacked.com.