Cryptokitties

[Swegly]

Just curious what your opinions on the site are and whether the chance for profit in this game is worth the time or investment. 

 

Also one thing im not sure about is, Are you essentially creating new money every time you breed cats? or do the transaction fees take away your profit?

[Imbellis]

There is definitely chance for profit; however... if it's worth your time... that's up to you.

For me - I'd take a no in that.

[Swegly]

Just wondering, If I buy 2 cats for $5 each and breed them together, would the fee be the same price as breeding 2 $100 cats?

If I bought 2 $5 cats and paid the fee to breed them, is it basically a gamble on getting a return on the fee cost depending on what genes the offspring will have?

[Canada EH]

1 minute ago, Swegly said:

-

Who is doing this and charging the breeding fee.

Time is money so I'd say the fee is the same.

[Swegly]

1 minute ago, Canada EH said:

Who is doing this and charging the breeding fee.

Time is money so I'd say the fee is the same.

You mean if I got the new cat, and then sired it for some time Id make back the fee money??

[Canada EH]

1 minute ago, Swegly said:

You mean if I got the new cat, and then sired it for some time Id make back the fee money??

Do not buy a new cat, just find a stray cat, you save money and earn more profit!

 

I am lost here, physical cat like the animal, oh sorry you mean crypto. I am lost.

[Swegly]

Just now, Canada EH said:

Do not buy a new cat, just find a stray cat, you save money and earn more profit!

...

[CryptoMatt]

what is this website? id like to learn about it

[Energycore]

1 minute ago, Swegly said:

...

 

2 minutes ago, Canada EH said:

Do not buy a new cat, just find a stray cat, you save money and earn more profit!

 

I am lost here, physical cat like the animal, oh sorry you mean crypto. I am lost.

Cryptokitty is this fun little game that uses the Ethereum network (which can validate transactions for a lot of things not just ether) to create these digital cats that you can "adopt" (essentially you buy them), raise and trade. I just learned this

 

https://en.wikipedia.org/wiki/Cryptokitties

 

The cool thing is, each cryptokitty has its own 256-bit genome with different attributes that you can pass on by breeding two cats. (hence OP asking what the fee is to breed them and if it is based on their value).

[Swegly]

Just now, CryptoMatt said:

what is this website? id like to learn about it

Ive spent a few hours today researching it because it seems like a good opportunity to make a little investment. I've been finding it pretty hard to understand though, in the sense that I dont really understand how a profit return is made. Basically its a cat breeding/trading/collecting game but the cats traits determine the demand of the cat and therefor the price of it.

[CryptoMatt]

2 minutes ago, Swegly said:

Ive spent a few hours today researching it because it seems like a good opportunity to make a little investment. I've been finding it pretty hard to understand though, in the sense that I dont really understand how a profit return is made. Basically its a cat breeding/trading/collecting game but the cats traits determine the demand of the cat and therefor the price of it.

and it uses ETH as payment?

[Swegly]

10 hours ago, CryptoMatt said:

and it uses ETH as payment?

yes

 

10 hours ago, Energycore said:

 

Cryptokitty is this fun little game that uses the Ethereum network (which can validate transactions for a lot of things not just ether) to create these digital cats that you can "adopt" (essentially you buy them), raise and trade. I just learned this

 

https://en.wikipedia.org/wiki/Cryptokitties

 

The cool thing is, each cryptokitty has its own 256-bit genome with different attributes that you can pass on by breeding two cats. (hence OP asking what the fee is to breed them and if it is based on their value).

The main point of confusion for me with this whole thing is that Im not sure how you gain profit. Is it by siring the cat? or by selling the cat? And whether the fees are more than either of these things can actually gain you?

[CryptoMatt]

10 hours ago, Swegly said:

The main point of confusion for me with this whole thing is that Im not sure how you gain profit. Is it by siring the cat? or by selling the cat? And whether the fees are more than either of these things can actually gain you?

ill look into and mess around with it real quick and see what i can find out

 

umm it didnt really tell me how anything works, it just threw me into buying cats 

[Swegly]

Just now, CryptoMatt said:

umm it didnt really tell me how anything works, it just threw me into buying cats 

yea I might just forget about the whole thing, because i feel like they should make it easier to understand if they really want to maintain a userbase

[CryptoMatt]

1 minute ago, Swegly said:

yea I might just forget about the whole thing, because i feel like they should make it easier to understand if they really want to maintain a userbase

so you just buy two breed then and it makes a new cat and you hope its worth more? thats all im seeing so far 

[Swegly]

Just now, CryptoMatt said:

so you just buy two breed then and it makes a new cat and you hope its worth more? thats all im seeing so far 

yes, or you can rent your cat to other people for them to breed with it. But all of these transactions have fees and I just dont understand how you would end up making a positive amount of money

[Energycore]

26 minutes ago, Swegly said:

The main point of confusion for me with this whole thing is that Im not sure how you gain profit. Is it by siring the cat? or by selling the cat? And whether the fees are more than either of these things can actually gain you?

I'm not entirely sure you can make money off this game, it might just be a fun thing. If you wanna make money, stick to trading. Ripple has had some huge variance that could be capitalized on and eth is on the way down slowly. so it may be time to buy soon

[Swegly]

Just now, Energycore said:

I'm not entirely sure you can make money off this game, it might just be a fun thing. If you wanna make money, stick to trading. Ripple has had some huge variance that could be capitalized on and eth is on the way down slowly. so it may be time to buy soon

Thing is, I am new to cryptocurrency and the only reason I considered starting now with cryptokitties was because they made it into a trading game. I spend alot of time collecting and trading CS:GO/PUBG items, so I just thought it could be something fun while making a bit  of money

[CryptoMatt]

2 minutes ago, Energycore said:

I'm not entirely sure you can make money off this game, it might just be a fun thing. If you wanna make money, stick to trading. Ripple has had some huge variance that could be capitalized on and eth is on the way down slowly. so it may be time to buy soon

trading? how do you make money trading 

[Energycore]

Just now, CryptoMatt said:

trading? how do you make money trading 

You buy X currency when it costs 100 USD, then you sell it when it's worth 120?

 

That's the gist of it. There's a lot of material you can read about security trading in general over at https://www.investopedia.com/

[CryptoMatt]

2 minutes ago, Energycore said:

You buy X currency when it costs 100 USD, then you sell it when it's worth 120?

 

That's the gist of it. There's a lot of material you can read about security trading in general over at https://www.investopedia.com/

oh you call that trading i didnt know that and that's what i've been doing, thought it was just buying and selling