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CryptoKitties - What they are and why you should own one

Discussion in 'CryptoCurrency' started by cyadron, Dec 6, 2017.

  1. Fragmaster

    Fragmaster Jr. VIP Jr. VIP

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    If you have any questions or trouble along the way, ask here, and i'll answer if i had the same problem.
     
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  2. waterworks

    waterworks Power Member

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    Crytpo Kitties might be the final tipping point in the downfall of society. Good grief, the stuff people will spend good money on never ceases to amaze. o_O
     
  3. Fragmaster

    Fragmaster Jr. VIP Jr. VIP

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    Oh but you're wrong. People didn't buy kittens because they believed in their intrinsic value which is nil. People bought it as a part of the price uptrend - speculation. It went up 5-10x daily. I believe that at least 95% of players participated to make money, not because they are delusional collectors. It was smart contract test app with huge staking incentive.

    ETH failed its first real stress test.

    Cats part was to attract people who don't know how crypto works :)
     
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  4. moonshine7000

    moonshine7000 Senior Member

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    Why do I want virtual kitty,the real one is way better
     
  5. F3rrAr1

    F3rrAr1 Newbie

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    I'm new with the ETH technology but I tried this kitties yesterday.

    First thing that I want to mention is that - there is a TAX for breeding your own cats. I didn't find this on their site. The tax is around 0.02 ETH.

    Another thing is that when you create auction or give a cat for siring you have to make empty transaction. I don't know why we have to do this since our cats are appended with our address but this is the process and of course for this empty transaction you have to pay GAS tax.
    I played a lot with these - GAS limit and GAS price(GWei) and always the transaction was going to the network and then failed(TxReceipt Status - fail).

    My question is how we know what GAS limit and price to set for transaction and most important is how do we get our money from the failed transactions back?
     
  6. Ensili

    Ensili Jr. VIP Jr. VIP

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    I believe quite the opposite as I already said in the other cryptokittie thread that was closed.
    Yes, its focal point is for investors with a nice addon (customizable features, i.e. color, facial differentiation, etc. However it would attract the masses a lot more if its investment value would be the side feature in my opinion. Collect "xyz unique pokemon like creatures" and invest instead of the other way around. After all investing in ETH now when all the delusional collectors (just think of a pokemon go type scenario) jump in would make the whole thing blow up. Speaking completely theorytical, ofc it wouldn't be as easy to implement necessary features to attract "everyone".

    Btw this topic seems to be getting quite the attention:
    http://www.businessinsider.de/ether...use-of-a-game-for-buying-virtual-cats-2017-12
     
  7. Fragmaster

    Fragmaster Jr. VIP Jr. VIP

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    Setting gas price to 90 gwei (today) would make your transaction confirm in a less than 2-3 minutes. You can check pending transaction queue on etherscan to find competetive gas price. It works like priority queue.
     
  8. F3rrAr1

    F3rrAr1 Newbie

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    OK, but do you know how to get my eth back? Or they are lost, if I don't set a properly GAS price I lose it ?
     
  9. Fragmaster

    Fragmaster Jr. VIP Jr. VIP

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    Transaction Failed - TX Fee not Refunded
    "Why didn't I get my transaction fee (TX Fee) back even though my transaction failed?"

    Ethereum is the network—the blockchain. Ether (ETH) is the fuel for that network. When you send tokens, interact with a contract, send ETH, or do anything else on the blockchain, you must pay for that computation. That payment is calculated inGas and gas is paid in ETH.

    You are paying for the computation, regardless of whether your transaction succeeds or fails. Even if it fails, the miners must validate and execute your transaction (compute) and therefore you must pay for that computation just like you would pay for a successful transaction.

    You can see your TX fee (gas limit * gas price) in ETH & USD when you search for your transaction on etherscan.io.

    This is not a TX fee that MyEtherWallet, or any other service provider, receives. This fee is paid to miners for mining transactions, putting them into blocks, and securing the blockchain.
     
  10. kontentguy

    kontentguy Regular Member UnGagged Attendee

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    its considered a digital beanie baby

    and if bitcoin/eth is being considered digital gold, or gold 2.0, then cryptokitty is just as illogical as a real physical beanie baby.

    its an investment

    now imagine if 15 yr old girls learn how to buy ethereum in order to get into cryptokitties
     
  11. Vapys

    Vapys Regular Member

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    So this is what society has come to...
    Whoring out digital kittens for profit.


    P.s I own the puppys version domain.lmao


    .
     
  12. DEFINE

    DEFINE Regular Member

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    Is this really a thing now?
     
  13. renepaolo27

    renepaolo27 Junior Member

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    I sired my kitty and even received an email that the siring auction as successful. However, I don't seem to see a change in my eth in meta mask. I should receive the siring fee, right? Or does it take hours to reflect?
     
  14. Fragmaster

    Fragmaster Jr. VIP Jr. VIP

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    Everything that you get from auction will appear on metamask funds. However you can check internal transfers on etherscan, and see all incoming funds from developer team/auction house. Those internal transfers are side effects of contract execution.
     
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  15. renepaolo27

    renepaolo27 Junior Member

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    Thanks! I saw it in eth scan under internal transactions. It's just not reflecting in my meta mask. Maybe I just have to wait some hours.
     
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  16. Fragmaster

    Fragmaster Jr. VIP Jr. VIP

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    No problem man. I also am waiting for eth network to unclog, because 20k pending transactions on average forces you you use almost 100 GWEI gas price to be competetive.

    Math/profitability doesn't add up for several days already. I'm lucky that i cashed the cats out on their downturn.
    Anyway, keep an eye on following factors:
    1) when devs reduce breeding fee from 0.015 eth to something acceptable. Previous prices were 0.001 and 0.002
    2) pending TX number reduction
    3) general trend of freshly minted GEN0 cats, which are owned by developers, and prices are calculated based on moving averages.
    4) average GWEI gas price on 1st page of pending transactions

    With all of that, you will know when/if game becomes profitable again.
     
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  17. Doozle22

    Doozle22 Registered Member

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    Lost faith in society.