Why You Should NEVER Invest in Sumokoin – Algorithm Changes Can KILL Cryptocurrencies

everyone welcome back to the vodka YouTube channel today we're going to talk about sumo coin this is gonna be my first and last video on sumo coin you'll quickly see why as of as of June 1st 2018 Sigma coins deceased there's no peace sumo coin I don't I don't know if you'll be missed but rest in peace welcome back if you saw a live stream two days ago talked about the outlook on Krypton money GPUs a6 FPGA is gonna be digging deeper on the tech side of what's really relevant for what we're talking about here today today it's all about sumo coin again our first and last a video on it so let's talk about it sumo coin is a fork of manera which took place last May sumo coin has always been GPU my noble asic resistant that was really all of its appeal and as you can see pretty lackluster start incredible run up I feel bad I mean if this prize went this high that means people bought at this price so people bought this coin and it's high of 10 dollars and plenty of people bought it everywhere between there and five dollars that's a very high it's very high buy-in as you can see we've been tumbling down here for a while then there was a little bit of resurgence as they forked to enable GPU mining once again to fork off the Kryptonite a sick of miners plan let me show you the seven-day here yeah let's get to what happened but first I want to show something good they have a nice website that damn I think this is cool look I go down it's like hey look at this whoa look at this whoa look at this whoa it's honestly like I'm messing around little bit but it is a nice website they've had a functional GUI wallet on here for a very long time and I mean that's the pro so I mean we need to have some pros in this videos let's get to the cons again the biggest appeal was the fact that it was GPU mine Apple they just posted yesterday that they're gonna be switching back to classic kryptonite which I'll dig into right now for you and explain a little bit why I actually think I figured out the reason why they've had something Abell drama going on and quite honestly it's due to the fact they're an amateur team and furthermore I'm really getting sick of all these projects that are just entirely anonymous if you want to be a real cryptocurrency in the future you're gonna need to attribute some phases to your team I mean at least a couple I understand if you've got a couple anonymous players on there but you can't just have a little band of anonymous people that could all be that same guy running around so they worked with fire ice fire is underscore UK he's the developer of XM our stack which is a good miner we featured here and we showed you the node dev fee which I felt a little bad about them but I feel excellent about now so they basically hired fire ice they brought them on to their dev team he developed kryptonite heavy form and so forth long story short I'll have these links in the video description if you want to check them out but fire and ice seems to have from the get-go been planning to hijack their coin he who wants to hijack their coin they brought him on board they paid him a nice chunk of change and he's just pin trying to sabotage and hijack the coin since then so he developed kryptonite heavy form and that was a big reason that they paid him they wanted him to develop them and ASIC proof algorithm he was trying to stage a user activates off for quietly if you take all the hash right you're gonna be able to take over the cryptocurrency and if that is the case he can take sumo and with that he'll add the brand and it'll have the coin already sitting on exchanges not that that really matters if we look at this price chart especially let's go to the two day and that's what jumping off cliffs like Wow so again long story short here we try to take over they are panicking they don't know what to do so they're gonna go back to the Kryptonite basic algorithm and the hash rate of the ASIC miners will more or less secure them from being you know a user activated soft fork which you know would they be able to take of their coin but you know they did a rebrand coming up for Rio right I mean the coins dead this is just such a proof that I would never put a dollar in this coin absolutely not I thought it was a cool project because I like to get into and support these GPU mountable coins just on the premise of everything that we are as miners I'll here at the box going channel but you hop over to the reddit you can see the just very terrible response here that they're not communicating clearly there to make the panicking I mean during a tough decision but they put themselves in a tough decision there's no one to blame here but the devs and how can you support an amateur dev team you know I don't want to put my hard-earned money in a project like this what if I bought into five bucks because I would have a lot less than five dollars per coin right now because well if we go over to Quinn market cap it is trading at sixty-two cents refresh I bet it's less 6161 I told you to be less yeah we're still on a downtrend it's bad I don't want to drag on and on guys I mean there's really not much else to it if you followed our video we talked about loci they're usually my heavy every and there's saronite which is using kryptonite heavy and I think another coin either way all the projects the actual algorithm is fine you know at least here in the short medium term so I wouldn't be worried about projects using the the Krypton heavy algorithm that's not how this is gonna affect it this is really just all about sumo coin how sumo Cohen is making their own decisions and completely destroying themselves so as of as of June 1st 2018 zoom of coins deceased person apiece there's no piece sumo coin I don't I don't know if you'll be missed but rest in peace but seriously guys that's it sumo coin as far as I'm concerned is dead keep your money away from it personally I would just cut my losses big-time and dump any similarly if I had it fortunately I do not actually have like a couple maybe but it's just it's totally lost cause here a couple months ago when I was getting my CPU monitor dialed in I was using them because it was easier to accumulate coins as opposed and like you know point oh one Manero but either way those coins are basically gone and forgotten now but what is not gone and forgotten wasn't that is the Vosk own youtube channel which you should smash that subscribe button smash the thumbs up on this video leave a comment below let me know your thoughts let me know what you think about this whole scenario then tell me if I miss something tell me if I didn't miss anything and you just want to pay your condolences here so with all that said guys thanks for watching I'll see you next time

43 thoughts on “Why You Should NEVER Invest in Sumokoin – Algorithm Changes Can KILL Cryptocurrencies”

  1. VoskCoin Discord Server Invite – https://discord.gg/FGGmS2z
    Bitmain Antminer X3 to Mine Sumokoin – http://geni.us/d9pNA
    AMD RX Vega 56 previous GPU to mine – http://geni.us/DTNQS
    VoskCoin Patreon – https://www.patreon.com/VoskCoin

  2. hi Vosk! I like your videos. I was mining Sumokoin since april….was a very nice and promisor coin….I Believe maybe the coin regain a new valor..with the new stuff they are doing…..

  3. Hey Vosk, love the channel. What is your experience with RAM sizes? I am currently running 8 Nvidia 1070 Ti on 8GB RAM with ease, planning on adding 4 more 1070 Ti to the rig, do you think I will need more RAM?

  4. nice video, I am very thankful for bitcoin it hasn't ever let me down and I'm glad my investments with Steven are growing everyday because its hard to find reliable service nowadays

  5. Fireice_uk was also the dev for the algorithm they were using. Cryptonight_heavy. The leads name is Vu. He hid 400k of premine coins. Fireice was paid for his services WITH sumo. So it's only natural that after finding out that the value of your compensation is theoretically (and secretly) diluted (along with everyone else), of course your immediate perogative is to tackle the premine. Vu forked back so he could keep his premine. It's obvious whose at fault.

  6. How's the farms vosk, my house for the first time in 2 or maybe more years is actually cool and quiet, its kinda sad though, the crypto space is a big mess atm, there needs to be some public talk and well transparency, although I think the whole value thing has invited too many greedy people, I think some one should make a test coin to that has diminishing returns or something of how much profit you make, yes they could make multiple addresses but the hassle would be insane, we need a sandbox coin that could be worth some or not even tradeable (at least on in the beginning) so dev and experiment and play just like Einstein did.

    Also me believing in capitalism and such fpga mining is ok by me as you have to pay alot for the education yet it kinda goes against the whole crypto idea that anyone can do this, the thing is you can't stop them because well the knew ones are capable of anything, you should have a live stream meeting with all the crypto tubers and any devs you can get along the more heads the better

  7. These guys seem to have executed a picture perfect Pump and Dump. For every sorry SOB who bought between $5-$10, someone sold it to them. Gee I wonder who that was…..

  8. Vosk mate thank you for your effort, thanks to you i got into crypto mining in january. I need your advice. I have one 1070ti rig that is at 50% of ROI. I am thinking about investing in another rig, most probably Vega 56 because Monero showed that it intend to stay Asic resistant. What do you think would be the best thing to do:

    1) invest right now

    2) wait to see impact of Bitmain Equhash Asic – probably price of Gpus will go lover

    3) wait for another crypto market bullrun

    4) maybe you have some other sugestion

    I forgot to mention that my electricity rate is really cheap at 0.08 cents for KwH

    Thanks mate!

  9. Thankfully because they went with cryptonight-heavy instead of cyrptonight v7 I never really put much effort into mining Sumo, so I only have a handful of worthless Sumo

  10. why not just go to cryptonightv7? why the asic riddled regular CN? sumo is nosediving right into the shitcoin pile.

  11. GPU miners always whine a lot about ASIC why?

    I am no expert but why all the hate for ASIC miners its designed to mine, you won’t brush your teeth with a rock would you?

    Correct me if I’m wrong but ASIC more energy efficient, it’s cheaper and more powerful than a GPU rig, and bitcoin uses ASIC’s

    If I was to create my own coin I would prefer ASIC miners over GPU miners, the reason is Most GPU miners follow Profits not Projects and where ASIC miners are dedicated to the algorithm this could maybe explain why people still by AISC even if the profitability will drastically go down in a few months and with all the negativity around ASIC’s it.

    To me it seems like evolution of crypto mining and GPU miners are be resistant to the change.

    I’m still rather new to the Crypto world let me know if I’m missing the bigger picture here.

  12. By bye sumo shit, welcome: ETN, ETNX, AEON (fork today to V7), BITCEDI (Citadel), KEPL etc…. so no worries 🙂

  13. nice^^

    "Currency Status: In Maintenance

    Unfortunately we are unable to accept your deposit at this time.

    Reason: 02/06/2018: Cryptopia is very disappointed at the behaviour of the various parties in the SUMO/RYO debate and how they have sprung this on us without notice. We have had zero time to evaluate the situation. To protect all funds of our users, we will be pausing all markets/wallets until the dust settles. We will re-evaluate and decide which chain or chains we will allow users to withdraw on."

  14. Been mining and following SUMO since Oct 2017 and this was really disappointing. Dumped it at 15k sats and wont look back to it anymore. Lack of transparency of the team is what killed the coin. There's been lies about the pre-mine and no community voting. The algorithm change was the idea of the team and not the community. RIP SUMO. Greedy bastards…

  15. I have been following you for a long time and for the first time I am disappointed in your videos. This video is not well informed. I have been following the drama top to bottom in Telegram and have listened to both sides CAREFULLY. You failed to mention how the original team hid coins and proof exists, it is wrong to make it sound like it is completely fireice_uk's fault without knowing more of the story.

  16. Would you buy GPU cards like 1070 or 1080 TI to mine at this point? If so, what do you think are the coins future GPU will be mining 8 months to 1and half years from now?

  17. You failed to mention that the original dev got called out for hiding 400k in premined coins in addition to the 600k coins that was disclosed

  18. Fuction GUI wallet? No, like the best GUI Wallet out there. The fork was necessary to save the coin. Honestly you done this video but obviously you not realy into the subject. Gl in future videos

  19. i just shut down and switching to xmr… but using xmr stak… trying to find the best settings for intensity

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