Hi Everyone,
Welcome to the Spectrumecons 7 Week Challenge. During the months of July and August, I have been running an economics challenge series. This series has consisted of 7 challenges. Some of these challenges are familiar to my followers, while others are completely different to any previous challenges or contests I have run.
Each challenge rewards winners with as much as 60 Hive. The value of the prize depends on the level of participation. For each new participant, the prize increases by 5 Hive. This continues until 60 Hive is reached (12 participants). The first 12 participants also receive a 50% upvote from this account. In addition to the prize money, the top few participants are given points. These points are used to determine the overall challenge series winner. This winner may receive as much as 80 Hive. The value of the prize equals the sum of the number of participants across all challenges. This continues until 80 Hive is reached.
For more information on the challenge series, read my post Spectrumecons Seven-Week Challenge (Coming Soon).
Other Challenges in the Series
- Challenge 1: Buying and Selling Game
- Challenge 2: Game Theory (Most or Least)
- Challenge 3: Cost Benefit Analysis
- Challenge 4: Make Me Happy
- Challenge 5: Auction
- Challenge 6: Buying and Selling Game (Business Version)
Welcome to Challenge 7: Return on Investment (Buy your Coin)
This is the final challenge in this economics challenge series. I thought I would end the challenge series with a cryptocurrency challenge. This challenge is a little different from previous challenges, as we are using actual data and prices.
How to play?
Participants can chose between 12 different cryptocurrencies to buy. These cryptocurrencies are as follows:
- Bitcoin
- Ethereum
- Binance Coin
- EOS
- Cardano
- Tron
- Dogecoin
- Stellar
- Solana
- Litecoin
- Monero
- Hive
Participants are given a budget to buy the above cryptocurrencies. Participants should aim to buy the cryptocurrencies, which they believe will appreciate the most in value over the next 6 to 7 days. Participants could focus on one or just a few coins or they could buy all the coins.
All entries must be made in the comments section of this post.
Each account is only permitted one entry.
Objectives of the game
The objective of the game is to make the highest profit from price changes in the cryptocurrency bought over the period stated in the question (e.g. $1,000 invested in cryptocurrency that appreciates by 10% equates to a profit of $100).
Game Assumptions
- Prices are in US Dollars.
- Closing prices for 13/08/2021 have been used as the buying prices
- Closing prices for 20/08/2021 will be used as the selling prices
- Closing prices are based on coordinated universal time (UTC).
- Prices are based on values provided by coingecko.com.
- Participants are only given two days to enter. This is to prevent late entries from gaining an unfair advantage.
- Participants are not required to buy cryptocurrency as whole units (e.g. a participant could buy 0.001 Bitcoin).
What information is provided?
- Participants are given a budget of $100,000 to buy as much of the above cryptocurrencies as possible.
- Buying prices of all cryptocurrencies, which can be bought as part of the challenge, are provided.
- Selling prices are not provided but the date of the closing price (20/08/2021) to be used as the selling price is stated in the question.
How are the results of the game determined?
The participant who makes the highest profit in US Dollars from buying cryptocurrency is the winner. For example, two participants enter. Both participants spend the $100,000 budget on cryptocurrency. For one participant, the value of his or her cryptocurrency increases to $110,000 and for the other participant, the value of his or her cryptocurrency increases to $130,000. The participant with cryptocurrency valued at $130,000 is the winner.
Contest Prizes
The account with the winning entry may receive up to 60 Hive. The number of participants determines the value of the prize. For every entry, the prize is increased by 5 Hive until a value of 60 Hive is reached. The first 12 entries will be given upvotes. The winner of this challenge will be given 25 points, second place 15 points, and third place 10 points. These points will be added to the existing points to determine the winner of the challenge series.
Challenge Series Standing and Points
So far, 6 challenges have been completed. The results from all 6 challenges have been posted. Below are the current standings heading into this final challenge.
Overall Series Score
| Participants | Points |
|---|---|
| Tamdike | 50 |
| Crrdlx | 45 |
| Diebitch | 45 |
| Shubhwaj | 30 |
| Rexplanet | 10 |
| Failingforwards | 5 |
| Trangbaby | 5 |
Let the challenge begin
Table 1 contains the prices of all 12 cryptocurrencies participants can buy as part of this challenge.
Table 1: Buying Prices of Cryptocurrency
Use the $100,000 budget to buy the coin/s that you believe will appreciate the most in price between the above given dates of 13/08/2021 and 20/08/2021.
Entry format
For this challenge, I expect to see entries made in the following format:
Name of cryptocurrency:
Quantity bought:
Name of cryptocurrency:
Quantity bought:
Name of cryptocurrency:
Quantity bought:
Etc...
Example of entry
Name of cryptocurrency: Bitcoin
Quantity bought: 0.4
Name of cryptocurrency: EOS
Quantity bought: 4,260
Name of cryptocurrency: Cardano
Quantity bought: 4,791
Name of cryptocurrency: Hive
Quantity bought: 100,000
The closing date and time for this challenge is 6PM coordinated universal time (UTC) 16/08/2021. Responses after this time will not be accepted. The results of Challenge 7 and the challenge series will be announced in a separate post.
I hope everyone has fun and enjoys this final challenge. I look forward to bringing you more challenge series in the future.
More posts
If you want to read any of my other posts, you can click on the links below. These links will lead you to posts containing my collection of works. These 'Collection of Works' posts have been updated to contain links to the Hive versions of my posts.
My CBA Udemy Course
The course contains over 10 hours of video, over 60 downloadable resources, over 40 multiple-choice questions, 2 sample case studies, 1 practice CBA, life time access and a certificate on completion. The course is priced at the Tier 1 price of £20. I believe it is frequently available at half-price.
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