Showing posts with label counterparty. Show all posts

Saturday, March 27, 2021

The Stealing Of Mountain Gox - MT Gox Exchange Saga - SOG Goxcard

The Stealing Of Mt Gox

SOG Card - The Stealing Of Mt Gox

Issued : Wednesday October 08 2015 , Epic card

In Circulation : 1200

Card Description : It is said that Mountain Gox, one of Askian's richest in crystals and gems, was robbed of all its treasures by one man. The miners lost their jobs and, in their anger, publicly humiliated their leaders. The wealth of the mountain was never traced back.

Spells Of Genesis artist, conjured up the image of a wizard stealing treasures from a mountain.

In total 1200 cards were created. This card is indivisible. Although 1200 cards is the maximum number in existence. The true number will never be known as like Bitcoin owners may have lost passwords or keys.

Legally Everdream Soft owns the copyright to the image, even though others may own copies of the card. The situation is similar to owning a limited edition copy of a book.

The Goxcard is a collectors item. Like a limited edition copy of the "Mona Lisa" this NFT was issued by Everdream Soft on Wednesday October 08 2015 to chronicle the downfall of the biggest and earliest Bitcoin exchange at that time.

Back Story : Shaban says that though the hack became public in 2014, this was one of the card that was issued long after the event. According to Shaban the image of a wizard stealing treasures hidden in a mountain was in his mind when it happened.

__________________________________________________________

The Marketplace How Much Is An NFT Worth ? Short article HERE

Goxcard price on the Dex : Counterparty Dex

Goxcard on Open Sea : Opensea

The best place for price discovery is the live auctions by Theo Goodman NFTAUCTIONS

What can an NFT be used for ?

1) Commemorate an event

2) Represent a digital artwork

3) Copyright ownership of an artwork

4) Ticketing access to clubs, events and such

5) Prestige of ownership if disclosed

6) Store of value

7) It is not a cryptocurrency

Store of value depends on all the attributes above and more perhaps. An NFT Card has only X number of copies in existence. It is of value to the people who played a part in the event. Gox card represents such an event.

A card like the Genesis Card represents the birth of Bitcoin and thus will have wide interest even to people not particularly interested in Cryptocurrencies.

A card like Satoshicard was the apex card even among SOG enthusiast then. The fact that it depicted a mysterious like character " Yoda Like " makes it even more appealing even if we eventually agree on who Satoshi really is.

It is not a cryptocurrency and this is important. Blockchains are always increasing and decreasing in value. Even if the price of BTC collapses a quality NFT will hold its' value. This is important for those holding crypto to hedge their risk of ownership.

This market is huge and this fact has not really sunk in. FDCARD sold for $45,000 and by extension total FDCARD value is $13.50 million. This places it at no 845 ( Coin Gecko) by market capitalisation, and it is only 1 Card in the SOG stable. Clearly this is a new asset class and deserves a ranking category all on its' own.

__________________________________________________________

Blockchain History

A parody of Mark Karpeles giving an account events.

No Seriously !!

Jeb McCaleb bought the domain Magic The Gathering Online Exchange in 2007, Mt Gox for short and used it to trade game cards. In 2009 he converted it to trade Bitcoin. He then sold it to Mark Karpeles in 2011. Mt Gox went on to become the largest crypto trading platform accounting for as much as 80% of all trades until its' bankruptcy in 2014.

At that time when nearly everybody who was dabbling in crypto was trading on MT GOX, you can imagine how angry the community was. Not only were Bitcoiners hit in the pocket but they were the laughing stock and set back Bitcoin adoption.

The mantra after this event was "Never leave your assets on an exchange" "Not your keys, Not your Bitcoins." Of course other exchanges were also hacked after Mt Gox but MT GOX was the poster child and this SOG GOXCARD "The stealing of Mt Gox" marks the event for posterity.

Mr Karpeles, Where Is Our Money? This guy confronted Mark in Tokyo.

Solving the mystery of Bitcoin's biggest disaster

Mark Karpeles apology

__________________________________________________________

How The Story Unfolds

2007 - Magic The Gathering Online Trading (Mt Gox) founded by Jeb McCaleb

2009 - MT Gox exchange change over from trading game cards to trading crypto currencies

2011 - Mt Gox sold to Mark Karpelles

2014 - Mt Gox Bankruptcy

This article in Buybitcoinworld by Jordan Tuwiner gives a fairly complete account of the MT GOX hack. ( MT GOX HACK ) ( Mt Gox Demise )

Developments Since Bankruptcy

February 2021 : Creditors to vote on draft resolution at creditors meeting 20 October 2021

February 26 2021 : Danny Brewster sues Craig Wright to hold safe funds in wallet 1Feex.. if he does have control over wallet

Non Fungible Tokens. NFTs. The Ultimate Store Of Value.

Other Cards

Bitcoin Origins - Genesis Card

First Bitcoin Fork - Blocksizecd

The Immitator Satoshilite

Note : Please feel free to contribute in the comments to improve this page and to use, for promoting your sales.

How Much Is An NFT Worth ? Analysis of nftauctions 3/20/2021

Since this is a question we are all wanting an answer to, I decided to revisit the FDCARD auction as it fetch the highest price and had the most activity.

Why does an NXT have any value at all? I think for NXT it is just a new phenomenon. Value in the crypto sphere is moving into this space, spearheaded by the mainstream cashing in creating NFT to make and store value.

Why the early SOG Cards have commanded so much value must be because some were created documenting and marking events in Bitcoin history. They were the first and that's what counts. They are also valuable because they are rare. Very Rare.

Back to the auction

zaafar opening bid 5K

mysterious aesthetic Entered 10K

xcer Entered 11.111K Exit 20K

rob Entered 12K Exit 26K

dave Entered 12.5K Exit 20K

@eltoso Entered 15K Won

got it all offalik Entered 26.5K Exit 43K

white rabbit Entered 36K Exit 44K

Fredrick Entered 37k

_____________

Bidding after 40K went as such :

@eltoso 40K

white rabbit 41

@ eltoso 42K

got it offalik 43K

white rabbit 44K

@eltoso 45K

Question is : Was this real? As there were 9 active bidders I believe it was. Even after 40K there were still 3 bidders in it. Some dropped of earlier and it must mean there is unsatisfied pent up demand.

The Satoshilite card went for $3300 so why the high price for FDCARD. It must be because it was the first even though it was not connected to Bitcoin storyline.

As I see it investors are making up their minds that these early SOG cards that tell the Bitcoin story are what they are willing to pay for. No more can be created and even if more of the same were issued by Everdream Soft ( I hope they don't ), the original ones will be the ones sought after.

Value I suppose will be based on how investors perceive each card and the story they tell not if it is an Epic or Legendary card.

By mistake some of the early cards were also divisible. You could buy 0.001 of a Satoshicard or Genesis card. It would be silly to break one up but fractions of these cards already exists.

__________________________________________________

Decided to examine the other sales 3/20/2021 Results. Unsold cards removed

1) Spells Of Genesis

Lot #17: FDCARD (1)

All in: $45000

Seller: N/A

Winner: @eltoso

Lot #8: SATOSHILITE (1)

All in: $3300

Seller: N/A

Winner: Cheech P

I am familiar with Spells Of Genesis and I know the personalities. Shaban was at the auction and he was as surprised at the prices achieved as much as I and some others in the Spells of Genesis community. I believe most of us invested in the game believing that if the first blockchain game became a success the cards would be worth something. The best prices were always in the low hundreds for Legendary and Epic cards and mere dollars for the rest. There was no premium for historically significant cards. The most expensive was of course the Satoshicard which sold for up to 6.65 BTC about $3500 then.

Over the years support ebbed and flowed and mainly hobbled along. Many of the original investors lost interest but did nothing as there was no market to speak off for the cards. The game token BCY was also delisted from many exchanges except for Zaif in Japan but liquidity was very low.

Then @nftauctions happened! We note that the sellers were not identified (NA) Both the winners Cheech P and @eltoso only made the one purchase. I know that none of us in the community were bidders in these 2 items. They are most probably from outside the community who are buying as an investment or as a store of value.

Demand for SOG cards seem to be on the rise from outside the community.

2) Villar Donations

Lot #35: Villar Donation Lot

All in: $1100

Seller: N/A

Winner: @IndelibleTrade

Lot #10: J. Villar (Mega Lot)

All in: $9400

Seller: N/A

Winner: @rarepepetrader

I believe these were Rarepepe cards and I commend the buyers for their kind donations.

3) Pepe, Corn Force, Of Will

Lot #1: MOONBRUNCH (Mega Lot)

All in: $1169

Seller: @moonbrunch

Winner: @Cornholio_the_Great

Lot #4: CORNITO (Mega Lot)

All in: $1500

Seller: @Cornholio_the_Great

Winner: Xcer

Lot #19: RareScrilla (eth)

All in: $2700

Seller: @scrillaventura

Winner: Xcer

Lot #28: Force of Will (4)

All in: $1000

Seller: N/A

Winner: Xcer

Lot #2: HOMIE (1)

All in: $3100

Seller: @misterwheeler

Winner: Xcer

Lot #27: FWCFCMARSFOC (1)

All in: $850

Seller: N/A

Winner: Xcer

Lot #30: DOSPEPES (1)

All in: $120

Seller: N/A

Winner: Xcer

Lot #33: CORNFITI (1)

All in: $900

Seller: @KEKRELOADED

Winner: Xcer

Lot #7: PEPEPOWERONE/TWO (2)

All in: $8500

Seller: @IndelibleTrade

Winner: @WhiteRabbit1111

Lot #15: PEPEPASSPORT (1)

All in: $400

Seller: N/A

Winner: @WhiteRabbit1111

Lot #26: FWCFCDRAGONC (1)

All in: $1000

Seller: N/A

Winner: @WhiteRabbit1111

Lot #32: GOXPEPE (5)

All in: $2800

Seller: N/A

Winner: @WhiteRabbit1111

Lot #3: LILUPEPE (1)

All in: $750

Seller: N/A

Winner: Zaafar

Lot #6: NOTARAREPEPE (1)

All in: $250

Seller: @wampum

Winner: @BitCrunchy

Lot #11: PEPEYAKUZA (Mega Lot)

All in: $3200

Seller: @Easy_B

Winner: @BitCrunchy

Lot #9: PEPEKACHU (1)

All in: $3800

Seller: N/A

Winner: @IProsumer

Lot #12: RAREPEPE (1)

All in: $17000

Seller: N/A

Winner: @hodlencoinfield

Lot #13: Bitcorn Jesus (1)

All in: $1500

Seller: ɱΔ6ì☾ҜìΔṄ

Winner: Tomi Devim

Lot #14: KEKTOPUS (1)

All in: $500

Seller: N/A

Winner: @scrillaventura

Lot #16: XENOPEPE (Mega Lot)

All in: $1000

Seller: N/A

Winner: ɱΔ6ì☾ҜìΔṄ

Lot #21: BATMANPEPE (1)

All in: $700

Seller: N/A

Winner: Gibson

Lot #23: DANKPEPE (1)

All in: $1100

Seller: N/A

Winner: @CollectiveMemeConscious

Lot #25: PEPEBAQUIAT (1)

All in: $1333

Seller: N/A

Winner: @CollectiveMemeConscious

Lot #29: CRYPTOPEPE (1)

All in: $420

Seller: N/A

Winner: Dave

Lot #31: EGGPLANTPEPE (1)

All in: $150

Seller: N/A

Winner: @Easy_B

Lot #24: RARECORN (1)

All in: $888

Seller: N/A

Winner: @droplister

There are 13 Winners in these sales @cornholio__the_great, Xcer, WhiteRabbit1111, Zaafar, @BitCrunchy, @IProsumer, @hodlencoinfield, Tomi Delvin, @scrillaventura, ɱΔ6ì☾ҜìΔṄ, Gibson, @CollectiveMemeConscious, Dave, @Easy_B, @droplister

Zaafar, Xcer and WhiteRabbit1111 participated in FDCARD bidding. Beyond this I am unable to comment as I do not know any of the personalities in Pepe, Corn, or Force Of Will community.

__________________________________________________

It is quite possible that NFT valuations can exceed that of cryptocurrencies! The reason is because NFT values are decoupled from the price of cryptos. It is an asset class all by itself.

Take for example, the Spells Of Genesis FDCARD was sold at auction for $45,000. There are 300 cards issued, which gives this card series alone a market Cap of $13.5 million. Whatever happen to the price of Bitcoin, the value of an FDCARD will not be affected. It is a perfect hedge for crypto investors.

All will be revealed on April 03.

Other Cards

Bitcoin Origins - Genesis Card

The Stealing Of Mt Gox - GOXCARD

First Bitcoin Fork - Blocksizecd

The Immitator Satoshilite

Note : Please feel free to contribute in the comments to improve this page and to use, for promoting your sales.

Monday, March 22, 2021

Non Fungible Tokens (NFT's) The Ultimate Store Of Value

NFT's are all the rage today and nearly everyman (woman) and his dog is or is trying to get in on this phenomenon. A Banksy art was purchased digitised, and turned into a NFT . The original was burnt. It sold for $380,000 in eth. Artists, celebrities, musicians are flocking to cash in by turning their creations into NFTs.

Even Elon Musk is getting in on the act selling his own NFT - A song about NFT!

What Is An NFT?

An NFT is basically a digital file on a blockchain and is therefore verifiably time stamped and immutable, provided it is embedded into a public distributed blockchain. ( BTC, ETH, Cosmos, Polkadot ... )

The first NFT was known as a token and in those days and was issued on a project called Counterparty (XCP) on the Bitcoin blockchain. Anyone can create one or any number of copies of a token using the counterparty dapp. The first SOG token (NFT) was the FDCARD issued by Everdream Soft, as a game card in their turn based game called Spells Of Genesis.

Because a Counterparty transaction is still a transaction on the BTC blockchain, Counterparty fell into disuse as the cost of BTC transactions escalated. It has now made a comeback especially as the value of these NFT cards start attaining ever higher values.

The FDCARD also known as "The Healing Formula"

Folding coin participants earned these FDCARD by merged folding starting in March 2015 until May when all 300 were "mined" and distributed proportionally to the work units completed by participants who ran the Folding at Home model to help find cures for cancer, Alzheimer, diabetes etc

Starting Price $5000

THE FIRST SOG CARD !

VINTAGE

RARE

The NFT Auctions

Enter Theo Goodman. He started a telegram community @nftauctions where he took it upon himself to auction off any transferable NFTs. It is a simple model based on trust. Sellers send him the NFT to hold in escrow. The successful buyer would send him the money (Btc) and he would forward on this payment less his commission. The first auction was mainly Pepe memes but the second auction contained the above FDCARD which sold for $45,000 and a SATOSHI LITE card which sold for $3300. Is it real? You can scroll up to see the results of the auction Lot17 21 March 2021 @nftauctions.

There are other marketplaces for NFTs such as the DEX on Counterparty in Freewallet, Open Seas, Uptick and more but this is the very first auction for NFTs where there is probably real price discovery and interest being generated from Twitter network.

What this suggests is that there is real demand for Spells Of Genesis NFTs because it started the tokenisation trend, It tells the story of Bitcoin and the Blockchain.

The most sought after card being The Satoshicard

Only 200 copies and it is arguably iconic for Bitcoin and the Blockchain. This card sold for $6000 back in 2016, with fractions of it selling for up to $27,000. It was a quirk that this card was divisible and some people bought fractions of the card thus destroying its' value. Small fraction owners can therefore hold to ransom the owner of the majority part of the card!

The Genesis Card

Representing the First Bitcoin block mined and the birth of the Bitcoin Blockchain.

GOX Card

Representing the story of the very first Bitcoin Exchange, Mt Gox, its hack. The saga continues to this days with liquidators and claimants still fighting over the "carcass".

Battle For Blocksize

Representing the very bitter fight within the community which led to the Bitcoin Cash fork.

Satoshi Lite also known as The Imposter

Charlie Lee, inventor of Litecoin, ask Shaban to portray himself as The Imitator. This card sold at the NFT auction for $3300.

What gives an NFT value?

Like anything else including Bitcoin it is Usefulness, Adoption and Scarcity. Bitcoin (Btc) has an advantage over gold in that it is easier to use as a medium of exchange without the cost of storage.

NFTs that represents digital art are valued because of the beauty of the artwork and/or the reputation of the artist. Most importantly the copyright of that image belongs to the token holder. In future, it will be paid to the token holder through the blockchain without the owner ever needing to do anything about it.

NFTs can also be issued by celebrities, artists and musicians, the value of which depends on their following. Yes songs can also be digitised and made into and NFT. These are collectibles and they include Pepe tokens the main items being auction at @nftauctions. It is only worth what someone will pay for it and its' value can go up or down.

Game Card NFTs in addition to being collectibles, are useful for their attributes in a game. The bigger the community playing the game the higher the demand and therefore value. Crypto Kitties, and SOG cards are examples.

A Special Place For Spells Of Genesis NFTs.

This is my opinion only and I believe that Some Spell Of Genesis NFTs especially those that tell the Bitcoin and Blockchain story and are issued in limited quantities between 2015 and 2016 will fetch very high value. ( See list of all cards here. )

The artwork is tasty, meaningful and professional and they are in limited supply. Satoshicard is only limited to 200 copies and who knows how many copies have already been lost. They are rarer than lambos.

The value fetch by FDCARD at @nftauctions of $45,000 and $3300 for SATOSHI LITE on 21 March 2021 is proof that these SOG NFT cards will be very sought after. Like Bitcoin (BTC) they were there first. They can be dated back to 2015, and there will never be anymore of them.

Is this a flash in the pan? There will be another auction on April 3 and the new auction lot is being put up for inspections now. I believe that this will be an ongoing event very much reminiscent of the early days of Bitcoin when BTC was traded on message boards and chatrooms all on trust. No doubt it will be formalised and professionalised in the near future.

As these eye popping prices keep rising, there will be more interest and we will have a huge positive feedback loop.

What can an NFT be used for ?

1) Commemorate an event

2) Represent a digital artwork

3) Copyright ownership of an artwork

4) Ticketing access to clubs, events and such

5) Prestige of ownership if disclosed

6) Store of value

7) It is not a cryptocurrency

A card like the Genesis Card represents the birth of Bitcoin and thus will have wide interest even to people not particularly interested in Cryptocurrencies.

It is not a cryptocurrency and this is important. Blockchain tokens are always increasing and decreasing in value. Even if the price of BTC collapses a quality NFT will hold its' value. This is important for those holding crypto to hedge their risk of ownership.

The future is bright for NFTs.

Appendix

Counterparty : https://www.coingecko.com/en/coins/counterparty

Everdream Soft : Company owned by Shaban Shaame a Swiss national. SOG was build on his original card role playing game called MOONGA.

Spells Of Genesis : Turn based game using attribute cards.

FDCARD Bidding History

Theo Goodman, [21.03.21 12:02]

BOOM

Zaafar, [21.03.21 12:02]

5000

Mysterious Aesthetic, [21.03.21 12:02]

$10k

Xcer, [21.03.21 12:02]

11111

Theo Goodman, [21.03.21 12:02]

xcer

Rob, [21.03.21 12:02]

$12k

Xcer, [21.03.21 12:02]

Dave, [21.03.21 12:02]

$12.5

Theo Goodman, [21.03.21 12:02]

15k next bid 16k

Xcer, [21.03.21 12:02]

$15

Theo Goodman, [21.03.21 12:03]

[ ✊ Sticker ]

Theo Goodman, [21.03.21 12:03]

do I hear 16k?

Rob, [21.03.21 12:03]

$16k

-, [21.03.21 12:03]

Xcer, [21.03.21 12:03]

$17k

Xcer, [21.03.21 12:03]

$20k

Theo Goodman, [21.03.21 12:03]

V top bidder

Rob, [21.03.21 12:03]

$19k

Theo Goodman, [21.03.21 12:03]

xcer 20k

-, [21.03.21 12:03]

Theo Goodman, [21.03.21 12:03]

26k ?

Theo Goodman, [21.03.21 12:03]

[ ✊ Sticker ]

Theo Goodman, [21.03.21 12:04]

[ 👊 Sticker ]

Rob, [21.03.21 12:04]

$26k

Theo Goodman, [21.03.21 12:04]

26k!

got it all offalick 🫀, [21.03.21 12:04]

26.5

-, [21.03.21 12:04]

Theo Goodman, [21.03.21 12:04]

[ ✊ Sticker ]

Theo Goodman, [21.03.21 12:04]

28 top bid v

Theo Goodman, [21.03.21 12:04]

29k?

Theo Goodman, [21.03.21 12:05]

[ 👊 Sticker ]

White Rabbit1111, [21.03.21 12:05]

Theo Goodman, [21.03.21 12:05]

[ 🤜 Sticker ]

Theo Goodman, [21.03.21 12:05]

29k

Theo Goodman, [21.03.21 12:05]

[ ✊ Sticker ]

Theo Goodman, [21.03.21 12:05]

do I hear 30k

-, [21.03.21 12:05]

Theo Goodman, [21.03.21 12:05]

31k?

got it all offalick 🫀, [21.03.21 12:05]

White Rabbit1111, [21.03.21 12:05]

Theo Goodman, [21.03.21 12:05]

32 white

Theo Goodman, [21.03.21 12:05]

33?

-, [21.03.21 12:05]

Theo Goodman, [21.03.21 12:05]

36?

Mysterious Aesthetic, [21.03.21 12:05]

😳

got it all offalick 🫀, [21.03.21 12:06]

[In reply to -]

Sheeesh

White Rabbit1111, [21.03.21 12:06]

Theo Goodman, [21.03.21 12:06]

no comments just bids ,thanks

Theo Goodman, [21.03.21 12:06]

36k !

Theo Goodman, [21.03.21 12:06]

[ ✊ Sticker ]

Fredrick, [21.03.21 12:06]

37k

Theo Goodman, [21.03.21 12:06]

38k?

-, [21.03.21 12:06]

Theo Goodman, [21.03.21 12:06]

40k!

Theo Goodman, [21.03.21 12:06]

do I hear 41k

Theo Goodman, [21.03.21 12:06]

[ ✊ Sticker ]

Theo Goodman, [21.03.21 12:06]

[ 👊 Sticker ]

White Rabbit1111, [21.03.21 12:06]

Theo Goodman, [21.03.21 12:06]