Synereo's Amps crypto currency developers just released details of a secondary offering with set prices based on time period of entry. I believe that this creates excellent arbitrage opportunities for anyone who is already wanting to be (or already in) Amps.
I sold all of mine a little late as the price dropped to get under the offering price. I was able to sell Amps at around 32,000 Satoshi and current price is 28,569 Satoshi.
In the middle of next month, on day 1-14 of secondary offering, Amps will be offered at 33,000 Satoshi. Day 15-21 they will be at 36,500 and day 22-30 they will be at 40,000.
I am bullish on amps after the offering, but during the offering I don't think they should have went with such long time frames with by far the best price in the first 2 weeks.
The buyers get a discount on the 33,000 starting offering price. If you buy 2 BTC worth, you get 3.33% more amps. 10 BTC = 6%. 20 BTC = 9%. 50 BTC = 11%. 100 BTC = 13%. 200 BTC = 15%.
So here is the calculated equivalent price:
- 31937 Satoshi if buying >2 and <10 BTC worth
- 31132 Satoshi if buying >10 and <20 BTC worth
- 30275 Satoshi if buying >20 and <50 BTC worth
- 29730 Satoshi if buying >50 and <100 BTC worth
- 29204 Satoshi if buying >100 and <200 BTC worth
- 28696 Satoshi if buying >200 BTC worth
There is also an extra bonus for the first 24 hours which will be 1 million amps given away to all participants based on how much % each person bought. If 10 million Amps are bought up (about $1.65 million), since 10 million was purchased and 1 million given as bonus, that's another 10% off the prices you see above.
Even not including that bonus, any whale Amp owner currently should sell above around 28700 Satoshi because he can easily buy back at the lower offering price. If we are assuming the second bonus is substantial, any whale should currently sell at Amp prices above say.. 27000 Satoshi. There will invariably be price fluctuations in the next couple of weeks. The main opportunity for traders to arbitrage is to sell if prices get close to 28500 or 29000 Satoshi. Whales should keep price below that...but as there may be short term lapses in this (whales may want buyers to push the price up so they can drop it down each time it gets close to 30,000), there should be opportunities for the investor. Another way to play this trade is to sell around current prices and buy back at lower prices. Chances are good I think based on this math and the recent break below the rising support trendline that the seller could buy back at lower prices.. (maybe 24,000 to 26,000 Satoshi). There is the chance Amps may stay in a tight range until the ICO but I think there will be a drop at some point.
Please verify everything I've said here as this is my understanding of it. Source information from Synereo here:
https://blog.synereo.com/2016/08/29/synereos-second-fundraising-campaign-coming/
Also keep in mind the offering will only succeed if offering price is same or slightly better (with unknown first 24 hour bonus) than exchange prices. Again, I am pro Amps long term but don't think they're pricing method was well put together.
Thanks for posting info on synereo. I'm always open to different investment ideas and would not have heard of it otherwise.
Started with 16000 Amps after this post was made and already have over 19100 Amps just through trades. Short term I'm happy if price moves up or down because that's when I sell or buy and then rinse and repeat.
Thanks for posting this
I looked to see when Synereo
will launch for members,
Do You Know when Synereo
Will Launch For The Public?
I'm not sure. Their Alpha version of the Social Network I believe is set on September 7th. I'm not clear on who will be able to participate in Alpha but I would love to try it. Also I'm not sure if that's just the Alpha public demo or Alpha officially starting.
EtherDelta is a Goldmine, insane arbitrage opportunity https://steemit.com/gifto/@fifelue/tips-be-a-millionaire-using-arbitrage
Thanks for the info. It seems the market already priced in the max discount on ICO.
Last Price
0.00028610
24hr Change
-8.64%
24hr High
0.00031679
So unless people plan to buy 200BTC+ it's better to buy at poloniex.
Keep in mind a whale who wants to get in with any serious amount can't buy at market price because he will buy the price up and pay more. If he buys at offering he can buy all for a set price and not have to worry about sell volume being adequate.
I'm with you on that one. My comment was not about whales, but rather the "sharks", those cowards that usually sit and wait with deep-out-of-the-money bids waiting for a dump. While the dominant volumes were to the upside over the past few weeks (1-1,7mill USD a day), the corrective dump days were at 100k-600k USD a day.
I wrote an article that explains the math involved in a simple way to arbitrage across cryptocurrency exchanges. Important to know what you are getting into so that you will not be trading at a loss. https://steemit.com/arbitrage/@kesor/the-math-behind-cross-exchange-arbitrage-trading