Santo Mining Corp (SANP)

[Toasterbangbang]

PO8 is actually pretty cool: My Take

To be honest, PO8 is a pretty great idea and seems revolutionary in a niche industry of marine archaeology salvation "Treasure hunters". There hae been a lot of "Yarrr Durr Yarrr" posts but reviewing the project reveals a pretty great idea... and if SANP is involved, this could be great for us.


Whats good
PO8 is a proof of stake token vs proof of work. POS Tokens require you to hold tokens in a wallet and it allows you to serve as a computing node for the network. Essentially you purchase enough tokens to participate in the network. By staking these tokens you take them out of liquidity temporarily which also reduces the circulating supply generally driving up value.

This POS model has two prongs, an automatic option where you serve as a distributed computational processing node and an interactive one where you actually review information yourself and accomplish bounties.People can earn "silver" which will have its own exchange value to P08. It is unclear what this value is...

Distributive and crowd-sourced solutions to big data makes sense where it could really help advance a smaller recovery operation where I am sure there is a large amount of data to analyze with only a few hands on deck to do it.

The second great thing would be a decentralized exchange run by the token PO8 where additional capital would flow into the ecosystem of the coin to purchase the recovered artifacts. This does seem to break the hegemony of larger auction houses who take a large bite out of the profit margins of recovery operations. An effective, decentralized exchange for historical artifacts would destroy the current market standard bearers and itself could claim a sizable market share.

The media behind this project actually is really top notch, this they have everything (telegram, reddit, Github, twitter....) The design is also quite good.

Apparently The Bahamas is "crypto friendly" and they have been issued a permit to conduct recovery operations which appears pretty rare...

Whats "Bad"
The private sale and crowd sale has pretty high standards for minimum investments. I am sure that they have secured a few etherium whales that hold a lot of cheaper etherium at current market value you are looking at 25k initial investment in a pretty revolutionary product. This seems risky or at least.... A risk many investors may not take. Many people like cryptocurrency for its liquidity, without having high volume exchanges lined up... this might scare many people off. Also.. For the regular crowd sale where you buy tokens for 0.1 etherium... without exchange support many people would be leery of spending this kind of crypto with so many other projects going on.. They really need to generate some huge press to accomplish this in a bear market where most people would rather hold fiat...

This also has to be taken into account that from a perspective of people investing in Archaeological recovery operations. Spending 25k to get in on the ground floor of an operation might actually be cheap and doing it with etherium in the Bahamas might also a great under the radar opportunity. To a millionaire... 25k isnt the biggest deal to get in on this action. I may betray my plebeian perspective here and misunderstand the average wealth of the community. Archaeological recovery people are probably like people that buy art but way cooler, someone you would rather have a beer with....

The roadmap is pretty aggressive given the team size

If the presale does not generate enough revenue to ramp up the team, the project could lose steam and be unable to deliver.

ICO free bee is over for the general crypto community, they really need to market to people already involved in "treasure hunting".



What's fit to be seen
Creating a decentralized auction house/distributed network requires the accumulation of a pretty large brain power team, while I am sure you could outsource a lot of the work under the direction of the CIO the project seems pretty niche not to have one in house. This won't happen overnight... Blockchain programmers charge 250 - 500k a year for good ones and there's literally not enough of them around for even more established projects with more resources to use. Again, with any business, its about your people...

Also, ICOs (initial coin offerings, this is a way to generate investment in a project by offering blocks of coins with bonuses and other incentives... They are looking to raise 10 Million$ worth) really aren't in vogue at the moment. The ICO craze is somewhat over in which a blockchain idea could essentially get funding based on being a block chain idea. What makes this different is the niche of the market and how it would appeal to those people involved in it.

This being said, Non-ICO projects are incredibly hampered by funding issues. This has to ICO for it to work imho...

Final Thoughts
It has both the interactive qualities of distributed computational power and personal interaction that people involved in the community will love. A decentralized archaeological exchange would upset the current market and bring value to the token. In fact... I am willing to bet that those in the community are quite excited about this new and daring project. I kinda wish I had 25k of etherium laying around to do just that...

How this relates to SANP... well... know one really knows... I guess we will find out...

As always feel free to PM me include your email as I dont have the fancy acccount that allows me to PM people...

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