***IMPORTANT***
The scenario calculation is WRONG, we are all human, and we all make mistakes. I will ensure that my next video is free of such errors. I simply forgot to add in the “multiplier” effect for the network tokens that are outstanding (400,000 to 1,999,950), and this was completely my fault. The rest of the scenario is 100% accurate.
The CORRECT dollar figure earned on 10 DGD tokens is ~$1,825.06, and that is a 33.18% increase annually.
Thank you to Redditor Ano_Nymos for pointing out that the calculation seemed off, which made me revisit my calculation, and then realized my error. https://goo.gl/5iR23q
ALSO: Some folks said that my ‘20%’ lockup variable is unrealistic, so I changed it to ‘70%’. Folks also said that the ‘40%’ participation variable was a bit unrealistic, so I’ve changed this to ‘60%’. Here are the returns based on those two variables being changed: Profit = ~$351.24 Return percentage = ~6.39%
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It was a lot of information to digest, and I’m super happy about the response to the video I’ve gotten so far.
Also, here’s this:
DigixDAO Profit Calculator (Google Docs):
https://goo.gl/BjaHeV — DOWNLOAD THIS TO ENTER CUSTOM VARIABLES!
(You cannot “edit” the document, click “File”, “Download as”, then “Microsoft .xlsx”)
In this video, I give a crash course on DigixDAO and Digix Gold Tokens, as well as a technical analysis.
Timeline:
0:13 – Disclaimer
0:30 – Start/Overview of Project
2:53 – Why people buy DigixDAO
4:25 – Scenario (Example of HODLing DigixDAO Tokens)
9:24 – Why have a gold backed Cryptocurrency?
10:24 – DigixDAO Analysis
11:40 – Chart Analysis
12:31 – Ending
Sources:
http://goo.gl/f7Hk6t – Proposed Structure for DGD Rewards
http://goo.gl/P8iy7R – Digix Global Making Silver-Backed Crypto
http://goo.gl/ZDEjp6 – Fees for DGX Tokens
http://goo.gl/KnSJy9 – Day Count Convention Explanation (Finance)
http://goo.gl/JJRdWi – Day Count Convention Formula
http://goo.gl/St6wCn – Double Top Trading Pattern (Finance)
http://goo.gl/DGeJHx – FAQ for DigixGlobal
https://goo.gl/oYjwbA – Whitepaper for Digix Gold
Channel Description:
Crypto Coffee is a YouTube channel I created dedicated to technical analysis, cryptocurrency news, and nuances in the market. The channel was inspired by my love of cryptocurrency and I have been in the market for a fairly long time. I try and give the most unbiased opinion on subjects covered while sticking to the facts, delivering the best information possible. Although I am a Finance major, this is not investment advice, and should not be taken as such.
DISCLAIMER:
This video is an opinion and is for information purposes only. It is NOT intended to be investment advice. Seek a duly licensed professional for investment advice.
Fair Use Act Disclaimer:
Copyright Disclaimer under section 107 of the Copyright Act of 1976, allowance is made for “fair use” for purposes such as criticism, comment, news reporting, teaching, scholarship, education and research.
Fair use is a use permitted by copyright statute that might otherwise be infringing.
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