This should have made my list for 2018 coins to own. With a market cap of only $30 Million I believe this coin is way undervalued. In a world where coins with only a white paper are raising $30 million before having a wallet, or coins that are works in process are hitting $1 billion in market cap how is GEO with a working product, valued at only $30 Million. Geographical tracking is an space I want to be invested in. Have you seen the Verizon commercials?
The uses for a geographical coin are endless so lets go over a few.
1) Inventory and package tracking in real time 2) Advertising where restaurants and merchants can drop coins at their location providing direct marketing 3) Video games like pokeman that can be used for treasure hunts etc. 4) Proof of location 5) Prizes at events and specials
With a new website and new marketing strategy as well as a phone app (and we love our phone apps) I believe this coin is way undervalued compared to the rest of the market. Now maybe I'm missing something. I well could be. But I'm long GEO' and look for this coin to gain in market cap.
Bottom line I love working products and first to market movers. What they were missing a few months ago was marketing and a strong social presence with an outdated website. Well it looks like they picked up the slack and with a new website and active social page! I believe this coin goes higher. Seriously where coins that are still pipe dreams are garnering 2billion in market cap, there has to be room to run for GEO'! Valued at only $23 Million? I believe smart money is picking this up as the price action has been great of recent. Long term HODL for sure!
Disclosure: I'm long GEO since September as per the link below, and I have added this morning. Coins that are constantly making new highs I want to be in. I am slowly building up a longer term position. I never recommend going all in as pullbacks happen, but there is never a wrong time to own a winner.
Komen
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I mean maybe some just can not read a chart. Regardless of the previous price move, the target was 600% higher. I even stated I am slowly adding! Its not what the equity done its what it is doing. Look at XRP for example!
Now for those like a few that want someone to have a crystal ball and give them a time and date for a breakout, there are palm readers for $5 that will provide this. However, my ball is broken but I noticed the price action and said "hey we have a breakout, its way undervalued, I'm building a position on the way up to a 500% target price" DOH!! And yet those that can not read a simple chart or read an analysis simply post "ohhh its up 100% already" DUHHHHHH and it went up another 150% from there! And there is still room to run!
Komen
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I have added to the position here, the wave count appears pretty clear, and I like the target area. My buy was at 82391 Satoshi's, I held a little back for the lower 0.618 target level, or I will add on a breakout.
Komen
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This is something to pay attention too. GEO ADA XLM and XRP are all selling off this morning. I have been adding. People (the herd) have a tendency during pullbacks to sell their winners and not let go of losers with the hope they recover. It's part of nature for one to sell their gains so they "feel" like they made something and hold on to losers so they do not "feel" like they lost. This is a mistake. I sell losers and add to winners. Paul Tudor Jone's quote should always be front and center (under JPM's of course) LOSERS AVERAGE LOSERS!!!!!
But the herd normally sell their winners here, and hold on to their losers. I can almost guarantee without second thought that the aforementioned coins come back with a fury!! They didn't get to the top because they are losers! I even picked up some TNT, QSP and ARN (a new coin). I wanted to own but was patient. Now I own them cheaper and they should retest their highs. This provides guidance.
Komen
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I'm adding in small positions! I would be shaving losers off but I did that a couple weeks ago!
Komen
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Disclosure: ARN was traded and I am out of this position completely. These are very dangerous trades and is an emotional roller-coaster which makes good for day trading.
Komen
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Looking to see if we consolidate here before moving higher.
Komen
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Let me clarify! I sold ARN NOT GEO!!! I mentioned I bought ARN and I was disclosing that I sold it. ARN was a trade that paid off nicely but it seems a little shady to me was up 350% so I took my money and ran.
GEO is consolidating nicely and I want to buy the breakout, but patience is a MUST! I have traded GEO but I now own more shares then before.
Komen
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The green box 2 charts above held, which was the 0.618 retracement and we have rebounded nicely. I'm looking to add on a pullback with a stop loss where the red line is. breaks the red line I will look to add lower as the market is correcting. But here are my short term targets. Nothing has changed. If you panic without recognizing where the levels of retracement are you will likely sell right at the bottom. I had it clearly marked above in the green box. If that level did not hold (and I don't mean the spike through which is why you should not use stops) then we have to exist, reassess at that point.
I would not touch this coin, other than for pure speculation purposes. It has several warning signs and several severe red flags.
- It's about geocaching. Not about e.g. inventory and package tracking etc. Purely geocaching.
- The popularity of geocaching has been seriously waning since 2011 - trends.google.com/trends/explore?date=all&q=geocaching - While the wallet has been available for 3 years, but there's still no app? If it takes more than 3 years to build an app, you've got a utterly crap development team. It should not be that hard.
- In august 2016 they mentioned the Android app would launch in september. - bitcointalk.org/index.php?topic=923995.msg15903568 - They will not be building native apps but make it a web interface. I won't go into details but it will give a far less than optimal user experience. For a concept that revolves about a "geocachign app", this is a very poor decision. - bitcointalk.org/index.php?topic=923995.msg17875879 - They got delisted from Poloniex earlier for lack of volume.
- There have been no tweets between feb 2016 and dec 2016 - twitter.com/geo_coin - It's like they disappeared for a year.
- They have been talking about reworking the website for over half a year now - bitcointalk.org/index.php?topic=923995.msg20617067 - It's a single page website. How hard can it be??
- Lead dev Tobler, dec 2016: "There's no reason to think GEO is dead (...) I've been dedicated to this project for 2 years and am not stopping anytime soon. " - bitcointalk.org/index.php?topic=923995.msg17234026 - Same guy 3 months later: "weifa is the new Lead Developer for GEO. I am still part of the team but won't be able to contribute to developments for some time. weifa is particularly skilled with GIS technologies. I will be back developing when my work load eases." bitcointalk.org/index.php?topic=923995.msg18252704
To clarify, I am convinced the people behind GEO are genuine in their intentions, not scammers. I just think they're in way over their head when it comes to development. They did not launch with an ICO so there's little money in the bank to hire developers. They have some premined coins but it does not sound like it's a lot: "The premine is mainly for developments and promotions and hopefully some more GIS professionals will come on board and can get paid a little amount for a lot of work. GIS people often like to work on open source projects for free though so it's good." bitcointalk.org/index.php?topic=923995.msg10146123 I guess that's why they slowed to a crawl - either that or they are just too stubborn to realize they need to hire people.
PS If you're in this, watch this address: chainz.cryptoid.info/geo/address.dws?206347.htm Lasrgest GEO wallet at the moment, went from owning 0 to over 10% of all GEO, accumulating it between dec 18 and dec 27 in robotlike amounts. His max price was a fourth of what it is now so he's still in huge profit. If this guy starts to dump, you better take cover.
Mahbashi
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i invested 10k in this shit coin before 2 days once i see his post i thought he is trustful but it seems he got paid for doing advertising i dont think this coin will still exist in 2018
AndersF
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@Mahbashi, You mean goldbug? I have no doubts about his integrity whatsoever and have a lot of respect for him. I just had to share my findings here though. I oversee the building of websites/apps as a profession so my attention was triggered by the app-based concept of this coin and I wanted to find out what was taking so long.
If you're holding, I think goldbugs latest updates are solid advise for the short term. There will likely by a rebound from this panic selling. I personally just would not hold on to this coin long term, there are so many coins out there with a strong dev team that are on schedule of even ahead of schedule instead of years behind.
EmilianoD
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Still waiting for people to actually post ideas before pumps, and not 5 minutes after they shot to the moon like 300-500%...
- It's about geocaching. Not about e.g. inventory and package tracking etc. Purely geocaching.
- The popularity of geocaching has been seriously waning since 2011 - trends.google.com/trends/explore?date=all&q=geocaching
- While the wallet has been available for 3 years, but there's still no app? If it takes more than 3 years to build an app, you've got a utterly crap development team. It should not be that hard.
- In august 2016 they mentioned the Android app would launch in september. - bitcointalk.org/index.php?topic=923995.msg15903568
- They will not be building native apps but make it a web interface. I won't go into details but it will give a far less than optimal user experience. For a concept that revolves about a "geocachign app", this is a very poor decision. - bitcointalk.org/index.php?topic=923995.msg17875879
- They got delisted from Poloniex earlier for lack of volume.
- There have been no tweets between feb 2016 and dec 2016 - twitter.com/geo_coin - It's like they disappeared for a year.
- They have been talking about reworking the website for over half a year now - bitcointalk.org/index.php?topic=923995.msg20617067 - It's a single page website. How hard can it be??
- Lead dev Tobler, dec 2016: "There's no reason to think GEO is dead (...) I've been dedicated to this project for 2 years and am not stopping anytime soon. " - bitcointalk.org/index.php?topic=923995.msg17234026
- Same guy 3 months later: "weifa is the new Lead Developer for GEO. I am still part of the team but won't be able to contribute to developments for some time. weifa is particularly skilled with GIS technologies. I will be back developing when my work load eases." bitcointalk.org/index.php?topic=923995.msg18252704