Alt coin - EncrypGen (DNA)

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cabbie31
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Alt coin - EncrypGen (DNA)

Postby cabbie31 » Tue Jan 02, 2018

Market Cap
$31,316,824 USD

Circulating Supply
44,676,794 DNA

Total Supply
70,981,320 DNA

$0.697407 USD (13.83%)
0.00004693 BTC (5.62%)
0.00080161 ETH (6.72%)

Coinmarket rank: 299

Hi,
I'm a total noob to the world of crypto(threw in 500 bucks a week before christmas) so keep that in mind and excuse my ignorance as you read this!

Anyways, I was looking at lots of various coins while waiting for btc to arrive and came across EncrypGen (DNA).
It would seem like it's a relatively new coin that is going to focus on storage of genetic DNA on the block chain ...actually,this article could break it down far better than I ever could.
https://www.huffingtonpost.com/entry/ah ... mg00000004

I haven't been able to find any other projects in this same space as yet so I can't tell if they are leading the way or they do have competition(ahead or behind where they are at.)

At the moment they are only listed on Cryptopia and EtherDelta which is both good and bad i guess - bad because of lack of exposure, good because there is tons of room for growth when/if they did get listed on other exchanges.

Judging by some of their tweets I have read it would seem the team are very much behind the concept of crypto currency which I find encouraging as i see motivation behind the project to that end as much as for profit/gain.

On my lunch break today I was reading a Spero report(I have no idea who or what Spero is to be honest. Whether it is an unbiased independant report or something written within the team(or an investor) but overall it was a very positive report both short term and long term.

You may notice the lack of financial input. I know absolutely nothing about the financial world. I n fact, the closest I have come is forking out 9 bucks for a registered version of Wall street Raider about 15 years ago. So any advice to this end would be appreciated!

This is the only coin that i have found so far that I think I might hold for the long term and it really is based on a 'gut feeling" more than anything else. I only have 600 so far but plan to accrue more which I can only do by trading in and out of other coins (hopefully!) for profit. So is going to be a relatively slow process!

I would welcome any opinions to either persuade or dissuade me away from this coin!

Thanks
John

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Fabio
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Re: Alt coin - EncrypGen (DNA)

Postby Fabio » Tue Jan 02, 2018

It's a good coin, they already have a working product and they announced two partnerships and they're going to announce two more this month.

Not only does it store DNA data on the blockchain, you can also sell your data. Companies pay big bucks to buy DNA data with specific traits, now you can profit from your own DNA.
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SilverDoge
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Re: Alt coin - EncrypGen (DNA)

Postby SilverDoge » Wed Jan 03, 2018

Plenty of criticism exists in the mainstream press concerning other companies such as 23andMe and various other providers who commercialize personal genomic data through hidden terms and conditions. Until now, there has been no alternative. EncrypGen has announced a partnerships with Codigo46 their first node client announcement in August and they are also their first preferred vendor whose test kits are being sold through website. Second partnership is with Health Wizz the first free mobile platform allowing individual consumers to efficiently and securely manage various health records, including their genomic data files.

From your article link - this seems to be the best feature. This whole idea has the "privacy aspect" that many of us in crypto appreciate - pinging off the charts. DNA on a blockchain? I would never use 23andMe and I think people are crazy to voluntarily give their DNA to some big corporation who is selling their data/DNA info.

From my first glance scan, it would appear that this is still centralized. Yes it is a blockchain project, controlled by a single company though right?
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Re: Alt coin - EncrypGen (DNA)

Postby satosan » Wed Jan 03, 2018

SilverDoge wrote:
Plenty of criticism exists in the mainstream press concerning other companies such as 23andMe and various other providers who commercialize personal genomic data through hidden terms and conditions. Until now, there has been no alternative. EncrypGen has announced a partnerships with Codigo46 their first node client announcement in August and they are also their first preferred vendor whose test kits are being sold through website. Second partnership is with Health Wizz the first free mobile platform allowing individual consumers to efficiently and securely manage various health records, including their genomic data files.

From your article link - this seems to be the best feature. This whole idea has the "privacy aspect" that many of us in crypto appreciate - pinging off the charts. DNA on a blockchain? I would never use 23andMe and I think people are crazy to voluntarily give their DNA to some big corporation who is selling their data/DNA info.

From my first glance scan, it would appear that this is still centralized. Yes it is a blockchain project, controlled by a single company though right?


ERC-20 tokens aren't a crypto currency why would we be concerned if the company is decentralized? I'm still trying to piece a lot of information together to get a better understanding of this universe so I'm not blasting you, just curious. I kind of look at tokens as a "stock certificate" at this point that is convertible to another cyptocurrency. Do we expect someday that DNA tokens will be accepted currency at 7-11? or all the thousands of coins/tokens available will be used for commerce?
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SilverDoge
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Re: Alt coin - EncrypGen (DNA)

Postby SilverDoge » Wed Jan 03, 2018

satosan wrote:
SilverDoge wrote:
Plenty of criticism exists in the mainstream press concerning other companies such as 23andMe and various other providers who commercialize personal genomic data through hidden terms and conditions. Until now, there has been no alternative. EncrypGen has announced a partnerships with Codigo46 their first node client announcement in August and they are also their first preferred vendor whose test kits are being sold through website. Second partnership is with Health Wizz the first free mobile platform allowing individual consumers to efficiently and securely manage various health records, including their genomic data files.

From your article link - this seems to be the best feature. This whole idea has the "privacy aspect" that many of us in crypto appreciate - pinging off the charts. DNA on a blockchain? I would never use 23andMe and I think people are crazy to voluntarily give their DNA to some big corporation who is selling their data/DNA info.

From my first glance scan, it would appear that this is still centralized. Yes it is a blockchain project, controlled by a single company though right?


ERC-20 tokens aren't a crypto currency why would we be concerned if the company is decentralized? I'm still trying to piece a lot of information together to get a better understanding of this universe so I'm not blasting you, just curious. I kind of look at tokens as a "stock certificate" at this point that is convertible to another cyptocurrency. Do we expect someday that DNA tokens will be accepted currency at 7-11? or all the thousands of coins/tokens available will be used for commerce?


I would need to research it further to give a more detailed perspective. A company using ERC-20 tokens on the Ethereum network isn't necessarily a bad thing. The problem with centralization is it gives the government a single company to target, it allows corruption within the company by a rogue employee, or potential other issues. Of course these can be overcome by incorporating your company outside the US in a truly free market country, and hiring employees of the highest integrity.
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cabbie31
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Re: Alt coin - EncrypGen (DNA)

Postby cabbie31 » Wed Jan 03, 2018

I really don't know if it is centralized or not...I did ask on their discord though. This is the answer i got:

cab - would encypgen be described as centralized or decentralized? ( I'm not sure i understand the difference to be honest)

"the network will be decentralized as the information stored and shared will be distributed across the network of node operators (customers). One of the key differences here is that its a private blockchain, not public in the way things like ETH and BTC are (where anyone can look at the data and transactions). This is because you wouldn't want confidential data, like your genome, stored on a network like ETH for all to see."

This interview with the founder of encrypgen was released today - May give some more insight?


https://www.icoinvestor.tv/info/ico-ins ... more-1351/

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Re: Alt coin - EncrypGen (DNA)

Postby Fabio » Sun Jan 07, 2018

Boom, over $1.00!
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Re: Alt coin - EncrypGen (DNA)

Postby satosan » Mon Jan 08, 2018

I was about to post that. got a little run going on.
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Re: Alt coin - EncrypGen (DNA)

Postby Fabio » Mon Jan 08, 2018

And back down again

... And back over $1. Fun ride
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Re: Alt coin - EncrypGen (DNA)

Postby cabbie31 » Mon Jan 08, 2018

nudged $2 for a bit....getting listed on Okex tomorrow...One of the bigger exchanges apparently...

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Re: Alt coin - EncrypGen (DNA)

Postby Fabio » Tue Jan 09, 2018

Yep, I watched it hit $2 and watched my friend become a 2 million dollar man.
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Re: Alt coin - EncrypGen (DNA)

Postby satosan » Fri Jan 19, 2018

I see circulating supply jumped about 15,000,000 and MC jumped from $42,000,000 to about $55,000,000 in a 5 minute window.
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Re: Alt coin - EncrypGen (DNA)

Postby SilverDoge » Fri Jan 19, 2018

Fabio wrote:Yep, I watched it hit $2 and watched my friend become a 2 million dollar man.


Damn, he's got 1 mil tokens? That is balling.
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Re: Alt coin - EncrypGen (DNA)

Postby Fabio » Fri Jan 19, 2018

SilverDoge wrote:
Fabio wrote:Yep, I watched it hit $2 and watched my friend become a 2 million dollar man.


Damn, he's got 1 mil tokens? That is balling.


Yeah, he started buying them around 5 cents. Sold most of them on the way down from the $2 run, I think he still has about 25k left.
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