It's time for my third Crypto Activist StakeHodling profile: Theta Network
... but first, here's a link to my complete referral list, especially for those who like discounts, sign up bonuses, etc :)
The C.A.S.H. principles:
- Crypto fundamentals & technical analysis
- Adoption & User Experience
- Staking (Token Value & Utility)
- HodL positions & projections
... *Ahheeem* Let's get to it shall we :)
Crypto Fundamentals & Technical Analysis
Since the Theta Token [THETA] is the main governance token, I will be talking about it more; but I do want to mention the gas token Theta Fuel [TFUEL] -- as even though it has a high chance of being abandoned/discontinued/changed again -- as the idea behind it is what I love about the project ¹. At time of writing THETA's Market Capitalization is around USD$334 million, ranking it 45th, and TFUEL's Market Cap sits at USD$35.5 million in 192nd place on Coinmarketcap.com. ²
There are approximately 870,500,000 tokens in circulation, out of a 1 billion hardcap for THETA and 3.8 billion out of 5 billion total supply for TFUEL, that increases at a 5% rate annually; THETA currently exchanges for USD$0.384 which currently is about 3,243 Sats [Satoshis - or 0.00003243 BTC] and TFUEL market value is around USD$0.0092 or 78 Sats ³; according to Coinmarketcap.com, the DEX with the highest trading volume for both is Binance. The current CEO of the project is Co-Founder Mitch Liu, and Jieyi Long, the other Co-Founder serves as Chief Technology Officer. ¹
For those who follow Momma Michelle, she has written other articles on the subject, her comparison between it and LBRY.tv is linked here. Though honestly, the best resource by far is MuyAsk and his comprehensive walk-through.
THETA's Initial Coin Offering took place in early January 2018 for about USD$0.15 and raised $20 million; its price currently charging back toward its all time high of USD$0.55 it set in May of 2020. ⁵
Sadly I neither participated in the ICO, nor have as of yet dollar cost averaged into a position for the THETA token (which when I first heard about it, was trading at USD$0.13), but for better or worse I do have about 100TFUEL earned from watching Streamers on their Twitch lookalike -- which, fun fact was originally named JustinTV -- streaming site Theta TV; which I'll get to more in depth later.
Despite what many might guess, the Theta project is based primarily in the U.S., but according to their masternode chart, their influence around the world is growing steadily ¹; after all -- the Co-Founders of YouTube, Steve Chen & of Twitch, Justin Kan -- are project media advisors. ⁶
For those wondering how the whole shabang works and, why a financial model where everyone gets paid wasn't made sooner *cough BAT cough*. Well, here's the model shown both in the whitepaper and on their site to explain how it all works.
Adoption & User Experience
The Theta project recently rolled out their Guardian Node staking on their 2.0 main net in July 2020.⁴ Basically, for those with 4 CPU cores in their computer, 8GB of Memory Storage ... and 10,000THETA ... they can earn a 3% return on their THETA tokens paid in TFUEL :) it's the thought that counts honestly.
So now you know why I haven't sunk money in it ... yet; but wait there's more :D
For those who don't use Twitch on the daily (something I'll write about sooner or later), Theta TV gives viewers the chance to share their bandwidth as "relayers" and earn TFEUL; these tokens are currently stuck on chain, but can be tipped or used to buy things on site like clothes, drinks and other prizes. These prizes in the store can also be won for free without earning TFUEL by participating with Streamers and earning yellow coins ... which replaced TFUEL not too long ago. I love this whole set up, especially since for some reason Energi and Brave stores accepts USD for their merchandise and not NRG and BAT (respectively) :Y
Even though the TFUEL can easily be phased out, abandoned, or all together [again] -- it's refreshing to see a streaming service for gaming that is already operating and forming partnerships rather than just act like they're going to do something in order to jip investors out of their capital; their most recent partnership in Korea and old partnership with China's Tencent have articles linked below :)
Staking (Token Value & Utility)
For those who have read this long and are just looking for a place to exchange their TFUEL (because it is hard to find places if you don't have a Binance account). A link to Coinspot is in the links below; but for others who are on the fence about the value of THETA (or both), consider that these are passive income options available to those who game and stream content, but don't necessarily earn from doing either.
Since neither THETA nor TFUEL are staked off chain, the only way to earn is through their masternode ... sorry, Guardian Node, program. When the time comes for the project to be available to be collateralized and/or earn interest on other platforms *cough Nexo cough* I'm hopefully past my target set in my goal article.
All this is meh, but what does this have to do with *you* the reader?
HodL Positions & Projections
In order to be in the top 100 THETA Hodlers, one needs at least 502,000THETA; for top 500: ~112,000THETA ⁵ -- honestly couldn't find that kind of data on TFUEL though; even if I am hopeful about the gas token's future, I might spring for Dogecoin beforehand (more on that later).
Hopefully my enthusiasm rather than skepticism showed through more, because the global media sector is exploding past its original estimates of USD$2.3 trillion set back in 2019. The Theta project as a whole is definitely going to be the pivotal in a potential Quadrillion dollar Online Economy (but then, I'm biased). If not ... then it doesn't hurt to practice diversification whenever possible in my experience.
My projections and goals are mostly captured here; but for entertainment purposes only, my honest opinion is that HodLing 1,500THETA and/or 170,000TFUEL will make me a millionaire within the decade.
Summary: The Theta project is probably the second pin in an income portfolio for those who want to stay home for a living; another key to a comfy and profitable future; and for those who like discounts & sign up bonuses: this link leads to such a referral list ;)