2018 is shaping up to be an incredible year for cryptocurrencies. After Bitcoin went from $900 to over $19,000 at one point in 2017, no one knows for sure how Bitcoin or any of the many alternatives will perform this year, right?
Well, maybe you know exactly how well Bitcoin and other coins will perform this year, and this is your chance to prove it. New to Steemit and cryptocurrencies (I started this last month), I decided to host this friendly competition to get your cryptocurrency predictions for 2018. The prize is 10 XRP coins sent to the winner shortly after the competition has ended.
Ready to give your predictions for a shot at 10 XRP? XRP is currently hovering at around 2.20, but who knows what these 10 coins will be worth at the end of the year (maybe you do!)! Whether XRP is at $1 or $100 at the end of the year, the winner will receive 10 XRP from me.
Read the rules below and then submit your predictions (all entries must be received by 1/31/2018 11:59 PM CST). GOOD LUCK!
Format
Each participant must submit their prediction for 5 coins by 1/31/2018 (11:59 PM CST). Simply guess what each of the five coins will be worth at the end of 2018 (12/31/2018 11:59 PM CST).
The five coins you need to predict for this contest are:
- BTC (Bitcoin)
- ETH (Ethereum)
- LTC (Litecoin)
- XRP (Ripple)
- Wild Card (Choose one: ADA, FUN, POE, TRON, XVG, XLM)
The Wild Card prediction gives you the chance to pick your favorite coin out of six options (ADA, FUN, POE, TRON, XVG, XLM) and provide your prediction for that coin.
Example Submission:
BTC: $35,678.90
ETH: $1,678.88
LTC: $755.10
XRP: $4.99
Wild Card: ADA: $1.77
Scoring
The winner of the competition will be the person with the highest overall score out of a possible score of 500. Each of the five predictions has a maximum score of 100 based on how close the prediction is to the actual final price of the coin on 12/31/18 (11:59 PM CST).
Example: You predicted that BTC will be $100,000 at the end of the year. The final price is $75,000, meaning you were $25,000 off in your prediction. The amount you were off (whether over or under) will be divided by the final value:
25,000/100,000 = .25
These 25 percentage points are then subtracted from the possible 100 points for each prediction. 100-25 = 75 points. This point total is added to your other four predictions to give you a final score. The highest score wins.
Tiebreaker: In the very unlikely case of a tie, the winner will be the person with the closest single prediction within their five predictions.
Rules
This is a friendly competition in which participants will predict what the price of five cryptocurrencies will be at the end of 2018. The competition will end on 11:59 PM CST on 12/31/2018. The winner will be announced by 1/10/2019 after the scores of all entries are calculated. The winner will be announced in a Steemit post, and will have two weeks to contact me with their public XRP wallet address (you must have or setup a XRP wallet to receive). The transfer of 10 XRP will be made within two weeks of receiving the address.
The entry with the most points out of the possible 500 will be sent 10 XRP.
1 entry per person. No edits will be accepted to an entry after it is made, so if a post is updated with a new prediction, only the first entry will be used for scoring. No entry after 1/31/2018 (11:59 PM CST) will be accepted.
Predictions are to be made in USD. If I die in the next year, I’m sorry, but the prize goes with me as well. If there is no internet, cryptocurrencies, or earth at the end of the year, I do not believe I will be able to get you these coins. However, under normal circumstances, even if XRP is worth $100 a coin at the end of the year, a single winner will receive 10 XRP coins from me.
This prediction contest is for fun. This is in no way affiliated with any company or the cryptocurrencies mentioned or given as a prize. There will be a single winner who will receive the 10 coins from me, Michael Luchies. By entering this contest, you agree to these rules and understand this is a friendly prediction contest and not some grand official competition. So let’s have fun and thank you for entering! Don't forget to submit your guesses in a single post (and only one post) by 1/31/2018.