Alt-Coin CDX

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SilverDoge
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Alt-Coin CDX

Postby SilverDoge » Thu Aug 03, 2017

The alternative news outlets and PM stacking communities are seeking crypto solutions. I read SRS Rocco regularly and was a bit surprised to see his latest post:

https://srsroccoreport.com/something-big-is-about-to-change-the-alternative-media-community/

Here is the website for the Community Ad Network (CDX): https://commodityadnetwork.com/

If you'd like to know how I feel about this one, I have left 2 comments in the SRS Rocco Report post in regards to how I feel about this one. My handle is simply: SD

Oddly SRS doesn't even accept crypto donations on his website, but he is listed as a Team Member of CDX on the White Paper.

Will it succeed? They have to battle with both BAT & Steemit so we'll see.
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SilverDoge
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Re: Alt-Coin CDX

Postby SilverDoge » Sat Aug 05, 2017

Surprised there were no comments about this one. A merging of the PM communities, alternative news websites and crypto all in one.... and no comments? It's almost like there is an active KSA and a US Mint buy debacle all happening at the same time. And people said it was too quiet around here...

:pop:
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Fabio
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Re: Alt-Coin CDX

Postby Fabio » Sat Aug 05, 2017

Read your comments there, very valid points you make there. Your point about "why they need $70 million" is the same reason I stayed away from EOS, why the heck do they need $1+ billion for that project when people like "Satoshi" didn't need any startup funds and Vitalik needing a small amount to start Ether.

I've stayed away from most ICO's for that reason, but I understand the developer's greed, heck if I had the programming skills I'll definitely be doing an ico of some sort.

I'm not buying CDX (I didn't even read the article, just went straight to the comment section).
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SilverDoge
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Re: Alt-Coin CDX

Postby SilverDoge » Sat Aug 05, 2017

Fabio wrote:Read your comments there, very valid points you make there. Your point about "why they need $70 million" is the same reason I stayed away from EOS, why the heck do they need $1+ billion for that project when people like "Satoshi" didn't need any startup funds and Vitalik needing a small amount to start Ether.

I've stayed away from most ICO's for that reason, but I understand the developer's greed, heck if I had the programming skills I'll definitely be doing an ico of some sort.

I'm not buying CDX (I didn't even read the article, just went straight to the comment section).


Fair points. I don't have a bunch in EOS, but I do have a position. I agree with you on the "necessary funds" thesis. They don't need that amount of money. For me though, it is about evaluation. If the claims of EOS are anywhere near reality, it will supplant ETH, and therefore overtake ETH's market cap (by a lot). The question is, will the claims become a reality or not?

As for CDX, they would need to have wild success for the investor to even have a chance at making any real money - and the competition is already tough in that space. If they merely did well, the investor stands to make very little or nothing. That doesn't inspire people to invest in an unproven startup.
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Re: Alt-Coin CDX

Postby SilverDoge » Sun Oct 22, 2017

Anybody tracking CDX anymore? I know the ICO is finished, but I don't see their token on CMC. Not sure how much they raised, but I know it didn't sell out. Progress updates on the blog look like amateur hour.
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Re: Alt-Coin CDX

Postby Altima » Sun Oct 22, 2017

Strange, I've never heard about CDX in any of the twitter traders that I follow, and some of them are big on microcaps.
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Re: Alt-Coin CDX

Postby everything » Sun Oct 22, 2017

They said it's on etherdelta. Sounds like a decent ICO, helping get into that alt-website add content area, and support that realm of spreading .. what the masses may perceived as borderline disinformation, although some of these websites are simply ahead of their time, and whistle blower types.

https://commodityadnetwork.com/progress-report-3/

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Re: Alt-Coin CDX

Postby SilverDoge » Mon Dec 18, 2017

From September 13, 2017: A few weeks ago that exchange rate was set at 1 ETH = 3,000 CDX. Since back then 1 ETH cost $400, we can extrapolate a dollar price per CDX token purchased back then. It works out to $400 / 3,000 = $0.13. Meaning that a few weeks ago 1 CDX token cost approximately $0.13.

Today, the fixed exchange rate is set at 1 ETH = 2,250 CDX. While that exchange rate is less favorable, we need to take into account that the price of ETH has fallen considerably to $270. Let’s calculate the current dollar price per CDX token. Now it is $270 / 2,250 = $0.12.

* https://commodityadnetwork.com/crypto-market-correction-makes-cdx-cheaper-than-in-pre-sale/

Currently trading between 7-8 cents on EtherDelta. And ETH has gone from $270 to over $700. Apparently they are going to launch in January. Considering they haven't even applied to be shown on CMC, I don't see this being successful right out of the gate. Glad I passed on this one.
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Re: Alt-Coin CDX

Postby SilverDoge » Thu Mar 22, 2018

SilverDoge wrote:The alternative news outlets and PM stacking communities are seeking crypto solutions. I read SRS Rocco regularly and was a bit surprised to see his latest post:

https://srsroccoreport.com/something-big-is-about-to-change-the-alternative-media-community/

Here is the website for the Community Ad Network (CDX): https://commodityadnetwork.com/

If you'd like to know how I feel about this one, I have left 2 comments in the SRS Rocco Report post in regards to how I feel about this one. My handle is simply: SD


I recently went to check up on the status of CDX, and saw it was valued at $0.03 with a trading volume of under $500 per day.... aka: dead sh*t coin. Check the price and graph here:
https://coinmarketcap.com/currencies/commodity-ad-network/#charts

So I clicked on the first link I posted from the SRS website above, only to discover that SRS Rocco has now deleted the initial post about CDX which was from 02AUG17 completely from his website. Clicking it redirects to the homepage. Shady. This is the crypto that he was helping to launch only 7 months ago!

So I realized my comments from that first post might be lost, as I warned people to stay away because they were asking for a ridiculous amount of money up front (more that Ethereum asked for!).

I was able to find the original post via the internet "wayback" machine here:
https://web.archive.org/web/20171123182250/https://srsroccoreport.com/something-big-is-about-to-change-the-alternative-media-community/

In case this somehow gets erased from the internet as well, here were my initial comments about CDX on Steve St. Angelo's now deleted blog post about the Community Ad Network:

First comment:
Steve,
This is a great first step. The alternative voices are being silenced in many ways. YouTube and Twitter is outright banning, or using their search features to hide, or pay “alternative opinion sites” less than fair value. This situation dictates that sites like yours get ahead of the curve and adopt alternative, and friendlier solutions that do not rely on these large centralized companies for revenue streams. Blockchain solutions are the perfect remedy and they will be disrupting many different industries in the years ahead.

That said, have you looked at the Basic Attention Token (BAT) yet? CDX seems to have a decent plan by incentivizing the advertiser and content creator, but it leaves out the end user from the equation (I currently do not hold any position in BAT, but I used to). The hard part is getting the advertisers on board, which is why (from my perspective) the company chooses to start with the niche market of PMs and alternative websites who already have a motivation to switch. The difficult part will be the growth from that point on, especially when other tokens like BAT (whose founder created Java) are going to eat up a lot of that market space.

Therefore, the concept is good, but the token itself may have limited value.
Finally, CDX is asking way too much for their ICO raise. How have they already pegged the ETH exchange rate to CDX this far out from the sale? ETH could rise or crash $100 or more from its current price between now and August 26th. Why does the company need to raise over $70 million? (value of 1 ETH = $220 currently; 1 ETH = 300 CDX, plus a 25% bonus… 1 ETH = 375 ECX [CDX]; therefore 1 CDX = $0.58 at today’s prices, including bonus tokens). If the company is selling 120 million tokens, that is at least $70.4 million at today’s ETH prices. How do they justify this while starting with such a small niche market? And remember the investors only get 75% of the tokens too. The overall idea is good, but there is no way I will put $1 towards this ICO. Ethereum itself didn’t ask for that kind of cash! It is hard for me to fathom that this ICO will sell out, but I’ve been surprised before in the crypto space. I predict the price of this token to definitely drop post ICO, so if you really want to invest in this project, wait until after the ICO ends and go buy it on an exchange like Bittrex or others. Don’t buy into the bonus. I say all this as a huge crypto supporter who owns many different crypto tokens, but I just don’t want to see Steve’s readers or the alternative media readership get hosed on their first crypto investments and have a bad taste in their mouth from the start. I understand Steve and many of his followers don’t have much experience in this space, but I’m telling you they are asking WAY too much money for this ICO raise.


Second comment after Peter (co-founder of CDX) disagreed with my analysis:
Of course you disagree with my conclusions, but I stand by them. Here is the question that needs to be asked: if you are okay with a minimum funding of $8 million – assuming a $150 ETH price (probably unlikely) and a minimum of 20 million tokens sold, then why is it necessary to have a maximum in excess of $70 million? What that says to me is you could do the project with only $8 million, but you’ll still take $70 million of investors money if they are willing (unwise enough) to give it to you. That is a huge discrepancy. This isn’t just you, it is many different projects in the crypto space. The recent parity wallet hack highlights this fact as well. The 3 teams that were hacked, and then the CoinDash ICO hacking, all had funds stolen. But none of the projects are closing up shop and throwing in the towel.
They all state they still have “enough” funds to get the job done. So why are all these projects raising more funds than they really need? I understand that with more funds, you believe you can get a 5 year cushion, can scale quicker, get more advertisers on board faster and such but you are leaving very little room for profit for investors that will actually fund your project. Now one could argue that isn’t your concern; if people believe in you enough to give you $70+ million then it’s on them. I believe that it speaks to the credibility of the development team though. To ask for a responsible amount of money. If you took your same ideas (a concept, whitepaper, some code, a few content provider sign-ups) to the VC’s of silicon valley and asked for “up to” $70 million – you would get laughed out of the buildings. It is easy to say “the idea can be scaled up greatly should it prove to be successful in this one niche market” but it is much harder in reality and success in one niche market where you have decent connections and a network does not necessarily easily translate into other markets.

As stated, your concept is decent, but you are behind the big players in this space: BAT (advertising) & Steemit (blogging & content rewarding). You are starting with a niche market in order to grow grass-roots style which I respect, but you aren’t asking grass-roots amounts of money. What I don’t respect is asking for (or being willing to accept) such a vast amount of money for this project. It is unreasonable. If you were asking a minimum of $5 million, and maximum of $10 million, with a possible second round of funding up to $10 million more AFTER you had successfully proven yourself working in your niche market and signed up your 300-1,000 content creators and 60-200 advertisers, I would then consider investing, if only to support the community. As it stands now, I wouldn’t even consider it. I have been involved in crypto over 4 years, my concerns revolve around the good of the alternative news outlets and the overall crypto space. I hope your project succeeds, but I don’t want to see fellow PM stackers getting burned on your ICO if it gets anywhere near max funding.


Look at the price of ETH when this was posted $220. ETH is up over double. Look at the price of CDX from ICO price. Down 80 or 90% with zero volume. This one was easy to spot from a mile away, even though I support what they are trying to do philosophically. Sad.
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