Can you guys help us all out and upvote those posts?

Trying to do my part to spread the word.

MERRY CHRISTMAS TEAM! (SKIP TO END FOR TLDR :)

[Note: this post was originally drafted on Christmas Day and subsequently edited]

[Disclaimer: I am posting this in triplicate on r/cryptocurrency r/cryptomarkets r/monero for visibility]

—

***Intro*** 

This is my first try at one of these. I am going to make a case for SUMOkoin (SUMO on Cryptopia) from a pure VALUE perspective. I’ve been researching privacy coins deeply and feel I’ve reached a sufficient conclusion to merit sharing SUMO.

SUMOkoin is a fork of MONERO (XMR). In my opinion, XMR is hands down the most undervalued coin in the top 15. Once people figure out how to value privacy into the value of a coin, XMR, along with the other privacy coins like SUMO, will skyrocket.

I am not here to argue SUMO is superior to XMR. That’s not what this post is about. I don’t find debating the merits of SUMO vs. XMR interesting as investing in SUMO has nothing to do with SUMO overtaking XMR. If anything, I’d argue that the merits of XMR underline the value of SUMO. What I do find interesting is return on investment (“ROI”). If you do want to argue about XMR vs. SUMO, I can point you to this infographic: /img/0eqfkg1hq2501.jpg

—

***Background***

I’m a corporate lawyer in Silicon Valley. my practice focuses on venture capital financing (“VC)”) and mergers & acquisitions (“M&A”). basically I spend all day every fucking day reviewing and revising cap tables, stock purchase agreements and merger agreements.

I started using BTC in 2014 in conjunction with silk road and TOR. I had a minor conniption when I recently calculated how much BTC I handled in 2014. My 2017 has been good with IOTA at sub $0.30, POWR at $0.12, ENJIN at $0.02, REQ at $0.05, ENIGMA, and PHORE.

My crypto investing philosophy is based on betting long odds. As Warren Buffet said, consolidate to get rich, diversify to stay rich. That said I strongly recommend you have an IRA and/or 401(k) in place prior to venturing into crypto. But when it comes to crypto, I’d happily strike out several times to have a chance at hitting a 100x. This is probably born out of working with VCs who do the same only with companies, not coins. I view myself as a mini-VC in the cryptosphere.

__

The Number 1 thing I've taken away from corporate law is that it pays to get in EARLY

Did you know that the typical founder buys their shares for $0.00001 per share? So if a founder owns 5 million shares, they bought those shares for $50 total. The typical IPO goes out the door at $10-20 per share. My iPhone calculator says ERROR when it tries to divide $10/0.00001 because it runs out of screen space.

At the time of this writing, SUMO has a Marketcap of $5 million. Given it’s market cap and its XMR-likeness, I am positive SUMO is the best value investment in the Privacy Coin arena at this time. PHR is another competitor, but at $50m market cap, I feel it has lost its mega potential for you and me.

—

***Merits of SUMO***

So what’s so good about SUMOkoin? Didn’t you say it was just a Monero knock-off?

1) Well, sort of. SUMO is based on CryptoNote and was conceived from a fork of Monero, with a little bit of extra privacy thrown in. It would not be wrong to think SUMO is to Litecoin as XMR is to Bitcoin.

2) Increased Privacy. Which brings us to point 2. SUMO is doing a couple things to increase privacy and nimbleness simultaneously. Monero currently does many of these too — though at the fork MONERO could not. Don’t forget Monero is also 5.5 billion market cap to SUMO’s 5 million.

a) RingCT. All transactions are RingCT (ring confidential transactions) and the minimum “mixin” transactions is 13 (12 plus the original transaction) which gives passes the threshold to resist blockchain attacks. No transactions made on the SUMO blockchain can ever be traced to the actual participants. Nifty huh?

b) Sub-addresses. The wallet deploys disposable sub-addresses to conceal your real sumo wallet address even from senders (who typically would need to know your actual address to send currency). Monero also does this.

3) Fungibility aka “Digital Cash”. This term gets thrown about a bunch, but basically, it means ‘how close is this coin to cash in terms of usage?’ Well, Sumokoin is one of a few cryptos that can boast true fungibility — SUMO can act just like physical cash i.e. no other people can find where the money comes from and how many have been transferred.

5) Mining Made Easy Mode. Seeing as SUMO was a fork, and not an ICO, they didn’t have to rewrite the wheel. Instead they focused on putting together some solid fundamentals like a great wallet and a dedicated mining application that lets you start mining with your current CPU. Check out the “Sumojoin Easy Minder” - simply run and start mining.

6) Intuitive and Secure Wallet. This shouldn’t come as a surprise, yet in this day and age, apparently it is not a prereq. They already have a GUI wallet, litewallet, plus those unlimited sub-addresses to boot that I mentioned above.

7) Decentralization. SUMO is botnet-proof, and therefore botnet mining resistant. When a botnet joins a mining pool, it adjusts the mining difficulty, thereby balancing the difficulty level of mining.

8) Dev Team // Locked Coins // Future Development Funds. There are lots of things that make this coin a ‘go.’ but perhaps the most overlooked in crypto is that the devs have done an excellent job delivering ahead of schedule. If you’re an engineer or have managed projects, you know how difficult hitting projected deadlines can be. These guys update github very frequently and there is a high degree of visibility. The devs have also time-locked their pre-mine in a publicly view-able wallet for years so they aren't bailing out with a pump and dump. The dev team is based in Japan.

9) Broad Appeal. If marketed properly, SUMO has the ability to appeal to older individuals venturing into crypto due to the fungibility / similarities to cash. This is not different than XMR, and I expect it will be exploited in 2018 by all privacy coins. It could breed familiarity with new money, and new money is the future of crypto.

10) Marketing. Which brings me to my final point - and it happens to be a weakness. SUMO needs a community effort to distribute information to the masses. A good example is Vert Coin. Their team is very good at disseminating information. I’m not talking about hyping a coin; I’m talking about how effectively can you spread facts about your product to the masses.

To get mainstream SUMO needs something like this VertCoin post: https://www.reddit.com/r/vertcoin/comments/7ixkbf/vertbase_a_vertcoin_to_usd_exchange/

—

***Market Cap Discussion***

For a coin with using Monero’s tech, 5 million is minuscule. For any coin, 5 mil is nothing. Some MC comparisons [as of December 25th, 2017]:

• SUMO: 5 million ENJIN: 110 million (22x SUMO)

• Enigma: 200 million (40x SUMO)

• REQ: 210 million (42x SUMO)

• POWR: 350 million (70x SUMO)

• Monero: 5.6 billion (mental maths iz hard)

—

Let's talk about market cap ("MC") for a minute.

It gets tossed around a lot, but I don’t think people appreciate how important getting in early can be. Say you buy into SUMO at 5 million MC. Things go well and 20 million new money gets poured into SUMO. Now the MC is 25 million. Your gains are 4x (you invested $1,000 and now you have 5,000, netting 4,000).

Now let’s says say you bought at 10 million instead of 5 million. $15 mill gets poured in until the MC again reaches 25 mil. Your gains are 1.5x (you put in $1,000, you now have 2,500, netting 1,500)

Remember: investing at 5 mil MC vs. 10 mil MC represents an EXTREMELY subtle shift in time of investment (“TOI”). But the difference in net profit is dramatic. the biggest factor is that your ROI multiplier is locked in at your TOI — meaning every 25 million that gets added to the MC pot, you 4X you're returns.

Example MC = 100

• TOI @ 5 MC = $20k (net $19k)

• TOI @ 10 MC = $10k (net $9k)

• TOI @ 25 MC = $4k (net $3k)

I strongly believe SUMO can and will 20x in Q1 2018 and 100x by end of Q4 2018 reach $500,000 MC. There is ample room for a tricked out Monero clone at 500 MC. That’s 100x.

Guess how many coins have 500 mil market caps? 48 as of this writing. 48! Have many of these coins with about ~500 mil MC have you heard of?

MaidSafeCoin?

Status?

Decred?

Veritaseum?

SUMO has potential to surpass those.

—

***The Importance of Privacy*** 

I want to close with a brief discussion of privacy as it relates to fundamental rights and as to crypto. 2018 will be remembered as the Year of Privacy Coins. Privacy has always been at the core of crypto. This is no coincidence. “Privacy” is the word we have attached to the concept of possessing the freedom to do as you please within the law without explaining yourself to the government or financial institution.

Discussing privacy from a financial perspective is difficult because it has very deep political significance. But that is precisely why it is so valuable.

Privacy is the right of billions of people not to be surveilled. We live in a world where every single transaction you do through the majority financial system is recorded, analyzed and sold — and yet where the money goes is completely opaque. Our transactions are visible from the top, but we can’t see up. Privacy coins turn that upside down.

Privacy is a human right. It is the guarantor of American constitutional freedom. It is the cornerstone of freedoms of expression, association, political speech and all our other freedoms for that matter. And privacy coins are at the root of that freedom. What the internet did for freedom of information, privacy coins will do for freedom of financial transactions.

—

***TL;DR:*** 

2018 = Year of Privacy Coins // Monero is legit aka is the most undervalued coin in the Top 15 // SUMO is low MC clone meaning great ROI opportunity // ROI is everything // did I mention ROI is everything? // Consolidate to get rich; diversify to stay rich // extra strong code foundation + strong dev team + SUMO team financial incentives locked in multi-year vesting schedule // un-limited sub-addresses associated with Wallet & Litewallet means complete anonynimity // RingCT w/ 12+1 minimum mixins means complete confidentiality // legit Fungibility (like cash) means MARKET VALUE of privacy is baked into the currency // Mining Made Easy for those interested/able // is Botnet mining resistant // has unique market appeal to UNSOPHISTICATED DEEP pockets due to similarity to cash.

—

Legal Disclaimer

THIS POST AND ANY SUBSEQUENT STATEMENTS BY THE AUTHOR DO NOT CONSTITUTE LEGAL OR FINANCIAL ADVICE AND IS NOT INTENDED TO BE LEGAL OR FINANCIAL ADVICE OR RELIED UPON. NO REFERENCES TO THIS POST SHALL BE CONSTRUED AS LEGAL OR FINANCIAL ADVICE. THIS POST REPRESENTS THE LONE OPINION OF A NON-SOPHISTICATED INVESTOR.

edit: I've gotten a couple replies saying "email the PR team" or "take it to telegram and away from here" -- aka calls for silence. What's wrong with you guys? Sumo is about transparency. I think we were above blind pumping.

Edit 2: I'd like a rational explanation from the devs for why the vesting schedule is 600k, 900k, 7.2 million. That's 1.5x from year 1-2, and 8x from 2-3. I like the vesting. But it should be a decreasing scale, not increasing. See edit 3 for why.

Edit 3: something else about premines - when done up front, each coin sold by the devs to fund development is sold at a low price per coin. This is the opposite. These coins will be sold at a high price per coin when development is less necessary. Can anyone explain why that method was selected?

I think we need to have a conversion guys.

I'm glad & relieved the team has started an open dialogue about the coins being released this summer (see here: https://medium.com/sumokoin/spring-plan-2018-9d0218c8db40). That's awesome. But I'm more concerned about the 7,200,000 SUMOs that will be released to the team in July 2020. Assuming a price per SUMO in 2020 to be $100/sumo, that's $720,000,000 - almost a billion dollars.

--

Did you know that? The release schedule of coins to the team is as follows:

--

July 2018: 600,000 coins

July 2019: 900,000 coins

July 2020: 7,200,000 coins

Community Concern

When those 7,200,000 coins unleash, the core team will hold 25% of all coins in circulation on that date. The expected total number of coins as of blockheight 416581 (the release trigger, estimated July 2020) is approximately ~28.9 million coins. I'll post the code below to calculate. This is the opposite of decentralization and extremely concerning to me. In the best case scenario, SUMO acts like a bank and sells tokens to the public. At the worst, they pocket the billion dollars. I trust the devs but avarice is unpredictable and we have no way of knowing who will be part of the team in 2020.

--

Re Sumo's approach to pre-mine: When I first heard 10%, I thought they got 10% up front or something to speed the coin up. That's wrong of course. It's 10% of the total coins when all is said and done and they got none up front. That's cool. And 10% of total coins is a fair premine. Total coins = 88,888,888, total to SUMO = 8,888,888.

--

I didn't realize the 88,888,888 coins would be mined 20 years from genesis aka in 2037. So that "10% of Final" is more accurately described as "25% Pre-Mine 3 years from launch."

This is not the point of premines. Premines are designed to be used up-front to spur development, pay devs, etc. Instead, the community is spurring development and offering to help raise community funds to get onto exchanges. I like the premine with vesting, but this is the wrong execution. We are suffering slow take-off, doing the work that is supposed to be done by the premine that will release in 2020

--

Fast forward. At this point, I incorrectly thought that they would receive those ~9 million over the life of the coin. Turns out no. While the 10% is calculated on coins mined by 2037, they get those coins 3 years into SUMO's launch.

Pre-Mine Analysis

The point of a premine is to accelerate development. It is not and has never been to line the pockets of developers. And I'm not saying that is what SUMO intends at all -- in fact, I suspect they'd do the opposite. But to my point, a premine as late as 2020, when SUMO coin is either clearly a success or failure, is pointless. At that stage it does just reward the developers. there's no way in hell 700 million dollars of funding are needed at that stage. Can you even imagine what injecting 7 million SUMOs into the market would do? Mass inflationary panic.

--

In short, I'm glad the devs posted an update because it is the perfect trigger to open a discussion about SUMO's future. And we need to have this convo NOW, while the community is small and nimble, the devs are accessible, and we are NOT on other exchanges. Frankly it just looks bad. And with bigger exposure, it'll get torn apart as a scam coin / fraud.

TLDR

We deserve to be informed what is going to happen with those 7 million coins released in 2020, in a secure decentralized manner, one where SUMO is not suddenly a bank holding nearly a billion dollars in assets, way ahead of time.

Wallet 1:

Address: SumonzyoAnidrp3B6WhbntJLRJsPRD7LiSd2e5HjRV9h6qWj6ia2ihgRXn8ZwmwfQgZ1mL9EkcsBcELL4h84v1yhMF9opLgjM1j Viewkey: e6e58faa93dba88315f67f53cba9413ebf0f423badb62696aa28ce6c0db2df00 Locked amount: 600,000 -- Until height#: 153600 (July 2018)

Wallet 2:

Address: SumonzyopdC7egt7MWhJcNfR3ktmfWqPNcu3Sb9aejAZ48W4a1ZW95vjXyQDuLLg2gSN8GkP3474R2wRr1h9ggy2BUHhbrLJJ51 Viewkey: 25ba5fa5abb5f99962754001ff631e01684f9a59871d798a20a1658ba31c950c Locked amount: 900,000 -- Until height#: 285091 (July 2019)

Wallet 3:

Address: SumonzyoK3hCffFQ8djaKZhokmPZsiuEaeLfEtnJfTXVQV3ce3mNHKHQ5kYLPVfNMsS7dhmyHihvhfKU6xXCrmaL4RVDo8eR3gB Viewkey: 1a8c55e52f7f80da3dfd2eadf71a74afb3242c20168ad888b57f483dbc38b00e Locked amount: 1,100,000 -- Until height#: 416581 (July 2020)

Dev Wallet:

Address: Sumoo4aMxWbLgqVazxbiNNFSDyhBEonRf99KmceTEnYUCWUQR2gXF1617P8xQxaMcGi5BAU7juzThSTboV6e1gitSjkfjq2zgY2 Viewkey: e12497b6dc6c2cbaf7b311e54b93e4e5f6367acda69a49f9ef20c51d9c689f00 Locked amount: 6,100,000 -- Until height#: 416581 (July 2020)

Sumokoin is happy to officially announce /u/fireice_uk joining the Core Dev Team. fireice_uk (curie-kief on sumo’s github) is well known among the crypto community for his exceptional coding skills as well as being one of the two developers of xmr-stak mining software. Welcome on board!

https://gitlab.com/Sumoprojects/sumokoin (new official repo till the issue is shorted)

Monero developers had an issue with the way Sumokoin created its copyright notice, the issue is legally justifiable

Copyright (c) 2016-2017, SUMOKOIN, (forked from) The Monero Project

when it should have been this

Copyright (c) 2017, SUMOKOIN

Copyright (c) 2014-2017, The Monero Project

however instead of opening an issue on our repo and advise to amend (in the spirit of the free source nature of crypto and especially in the anonymous coins realm) they went ahead and filed a DMCA claim, under oath, right away.

https://github.com/github/dmca/blob/master/2018/2018-01-25-Monero.md

Github had no option than to go ahead with it.

Monero has acted the way a private corporation would have acted to protect its product from competition, unvailing their true intentions regarding the future of their coin and its use. We expect more from them in the future.

We move on, Sumokoin is strong and healthy as always!

The SUMO team has been in communication with several exchanges in recent weeks and HitBTC is ready to list Sumokoin.

The standard process for ALL coins to be listed includes an audit of the source code and this comes with a fee of 5BTC

There is an additional subscription charge for each pair you wanted listed (SUMO/BTC, SUMO/ETH, SUMO/USDT) of 9BTC per pair for 6-months or 15BTC per pair for 12-months.

As everyone should know by now, less than 200k SUMO from the premine was available to the devs since the coin's launch last Spring and most of that money has been spent keep the project running so far.

The next pre-mine release is 600k SUMO in July 2018 and this could be used to get us onto HitBTC but we don't want to wait that long!

The SUMO community is asking our members if they would be willing to contribute small donations now to get us onto HitBTC right away. The devs will repay all donations with interest when the premine is released in July.

Please let us know how you feel with your vote and if there is enough support we'll work out a formal proposal: https://strawpoll.com/8scgeras

As we announced today, SUMO is going to rebrand soon. We are very excited to present the new name for our project.

Introducing RYO