What is OPUS and how to buy OPUS Token - Presale ends 22 July!

in cryptocurrency •  7 years ago  (edited)

Hello everybody!

I just bought 4426 Opus Tokens and paid 0.498 ETH + 0.01 ETH in gas ( so that the transaction goes through).
Basically I paid $0.02 / token.

How did I get the tokens?

opt_crowdsale.JPG

First you need to read these instructions:

info_here.JPG

  1. I created an ether wallet on https://www.myetherwallet.com
  2. I added a custom token using these values :
    Address: 0x4355fC160f74328f9b383dF2EC589bB3dFd82Ba0
    Token Symbol: OPT
    Decimals: 18
  3. I bought ETH with https://www.coinbase.com
  4. Transfered ETH to the crowdsale address ( same as the custom token address) . I needed to substract 0.01 ETH for the gas costs ( fees). Used gas limit of 200.000 (two hundred thousand ).

ADDING_TOKEN.JPG


What is OPUS ?

Here is a video that explains the main core of the OPUS Foundation:
Youtube:


Bitcointalk: https://bitcointalk.org/index.php?topic=2011065

They created a fully decentralized music streaming platform built using IPFS and Ethereum.

Here is a quote from their whitepaper:
Opus is a decentralized music-sharing platform that tackles the issue
of music ownership and sharing at an infrastructure and protocol level. Leveraging
the speed and redundancy of a novel Interplanetary FileSystem, IPFS,
Opus can scale and deliver thousands of tracks per second in a fully decentralized
manner. This throughput is achieved by encrypting music tracks on
the fly and storing the encrypted music files permanently on the IPFS swarm.
Only the decryption keys, and file hashes, are saved immutably on the Opus
smart contract. By only storing the decryption keys and reference hashes, we
can facilitate a number of novel features such as file ownership, trade, and full
decentralization. With Opus, artists can monetize their content by selling permanent
access to their IPFS music files and decryption keys directly to a fan’s
Ethereum contract, without any middleman.

Link to whitepaper: http://opus-foundation.com/whitepaper.pdf


crowdsale_Details.JPG

♬♬♬ [BOUNTY CAMPAIGN] Opus link :

https://bitcointalk.org/index.php?topic=2011082.0

Crowdsale page
http://opus-foundation.com/crowdsale.html

Where are the songs stored?
The songs are on the IPFS network and encrypted. Hashes to these files are on ethereum and transferred to user contracts.

What is the difference between OPUS Token and LBRY Credits?

  1. They use IPFS which is very fast.
  2. Lbry targets everything, but if you consider something like Google drive vs Spotify, yes you can store and sell songs from Google drive but unless you target music streaming users you aren't going to get market share

What is IPFS? ( Taken from the IPFS Whitepaper )
The InterPlanetary File System - is a peer-to-peer distributed file system that seeks to connect all computing devices with the same system of files. In some ways, IPFS is similar to the Web, but IPFS could be seen as a single BitTorrent swarm, exchanging objects within one Git repository. In other words, IPFS provides a high throughput content-addressed block storage model, with content-addressed hyper links


How can I contact them and where are they located?
Email
[email protected]
Phone
Office hours (13:00 - 22:00) GMT +971 50 69190541
Location
Saadiyat Island, Abu Dhabi, United Arab Emirates.


Other social media

Twitter: https://twitter.com/opusfoundation
Slack: http://slack.opus-foundation.org/
Telegram: https://t.me/opusfoundation
Facebook: https://www.facebook.com/opusfoundation/
WeChat:
Blog: http://opus-foundation.com/blog.html
Reddit: https://www.reddit.com/r/opusfoundation/

STEEM ON!
*Btw, this is not an investment advice, you have to do your own due dilligence.

Please don't invest money you can't afford to lose.
The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.*

@ideagenerator

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Thanks for the heads up, will definitely have a look. I also had a question, how long do you usually hold on investments? What's your criteria?

One of the strategies I am thinking is this one :

Wait until the price of the coin is 4 times the original worth. Take back my investment, that leaves 75% of the coins in my posession.

Hold until de coin has reached 10 times the original value, sell 20%. The rest of the coins hold until either worthless or 100 times the original value.

When you catch a winner it is worth it.

Btw, this is not an investment advice, you have to do your own due dilligence. Please don't invest money you can not afford to lose.

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

Unfortunately you have to add these statements because in the land of the free you cannot say a lot of things anymore...

Yeah , false freedom and all that.

Pretty awesome! I'm in!

Here is a demo of the platform!

http://opus-foundation.com/demo.html

Caution, this sounds good, but ICO's at the moment are only for the HODL type, if your are looking to invest then dump for short term when the platform lists on exchanges, then it is not the time for you to invest in ICO's.

I don't want to dump anything. I am holding . Thank you for your input!

This looks very interesting. I really like the idea of IPFS, and to couple that with a crypto could prove to be very valuable.

Yes, it is an interesting project, I didn't even knew that there was an Interplanetary File System until last night :)

nice post, upvoted

Thank you! 🤗

VERY interesting! thanks

Happy to help!

Thank you! Very informative...

Glad you found it informative! Have a good one!

I think I will have to read this a couple of times and watch the video again to see if I grasp it lol ... new to cryptocurrencies here !

Thank you for taking the time to respond! Take your time, if you have any questions please feel free to ask and I will do my best to respond.

I got some too, about 2300 :) really like this idea!

Yes, I really like it , too. Just hope it will take off and artists will add value to the platform.
I didn't even knew that some artits get only 15% of the revenue.. that is so crazy.

We covered OPUS' ICO, hope you'll find it helpful - https://coins.best/ico-reviews/opus/

Nice! Thanks :)

No problem! Have a good one!

How is Opus different from Musicoin?

After buying OPUS (or any ICO) tokens, how do we trade it to cash to ETH when it is available ?

I dont see all the tokens/coins are listed on many exchanges..

Here's a step by step guide to setting up a wallet and buying Opus (OPT): https://getcrypto.info/opus/