AsiaCoin
The “first” continent coin and I’m smitten
Full Disclaimer: I own 500,000 shares at an avg. cost per share of 1150 satoshis. I intend to sell, swing trade, and buy over the next month on a coin that I believe could go on a run higher than BlackCoin.
Half the time I’m trading coins it’s based on emotion, the other half it’s instinct. I make really stupid mistakes, but overall I continue to make the right choices. I’ve turned $100 into $1600 in the last three weeks. While that’s a great start, it’s not life changing. I’ve been searching for a coin that has the strongest chance of being the next rocketship. I’m not talking about 50-100% gains that we can all achieve in trading on the swings of Blackcoin, Fluttercoin, Zetacoin. I’m talking about taking a small investment and turning it into a fortune — one by which may free me to quit my job and trade crypto from a beach somewhere in Mexico. Asiacoin has many, many things going for it and here’s a few:
If successful coins have one thing in common it’s fairness. Can we all agree that premined shitcoins are just scams designed to benefit the 1%? It’s my belief that IPO/premine will become obsolete as the market matures. Does this make Asiacoin a winner? No, but it does mean that it has a decent shot of being more than a quick pump & dump.
POS is here to stay and it’s the defacto standard of all new coins. The interest rate for Asia coin in year 1 is 100%, 2% every year after. If I were to lob one criticism at the developer it would be this. Let’s be honest — no one is thinking about holding coins for one year in our universe. Don’t get me wrong — I love the concept. It just needs to be changed to something like 25% interest every three months until year 2.
There is something to be said for the strength of a coin’s community. Everyone plays an important part. The miners who do the heavy lifting and initially commit their resources. The minnows who diversify the market. The whales who pour the volume on like gasoline to a fire. The pumpers who… meh who am I kidding.. FUCK THE PUMPERS.
The larger the community, the higher the coin’s potential. The more miners, minnows, and whales that get on board — the more the price increases. So how can we measure the strength of a community? By starting where it all began on BitcoinTalk
I believe the number of posts can be used as a barometer for the initial launch community. Yes, I know, community can sometimes rally later but we’re talking about identifying the next rocketship before it launches into orbit.
(side note — If there are any mathematicians or statisticians reading this— it would be interesting to see this cross referenced historically with coins’ initial 3, 7, and 30 day gains)
Like it or not, a successful coin needs the backing of WHALES. *gasp* I know. They manipulate the shit out of coins to their sole benefit or the benefit of their group. But it doesn’t change the simple fact — crypto markets and coins need volume in order to survive. Whales provide liquidity for getting our BTCs in and out quickly as well the necessary BTCs for a MAJOR push upward. Unless you want to invest in a coin that ends up like 90% of the coins out there —untradable with just a few BTCs exchanging hands per day — then stop whining about whales and learn to see their patterns and benefit from it. (see baby-whale above learning from papa-whale)
So how can we tell if whales are picking up this stock? When Asiacoin was released, a flurry of exchanges picked it up in under a week. Bittrex, Poloniex, and the kingmaker — MintPal. Volume was about 100-200 BTC/day on Poloniex and once it was added to MintPal it was doing 600 BTC initially! That’s a LOT of AC accumulated and even now we’re seeing almost 300 BTC getting bought up per day. To put that in perspective:
Asiacoin is the sixth highest traded coin on MintPal and that’s BEFORE POW ends, Multipool begins, Pumpers start, and NEWS comes
There was so much initial volume on the lesser exchanges that Mintpal added Asiacoin instantly — unilaterally bypassing their “voting” system.
Every great coin attempts to innovate in some way. Auroracoin was the first country coin. Mintcoin gave us POS. Blackcoin first with multi-pool. Sometimes that’s what separates a good coin from great. This is where critics would say Asiacoin is weakest — it just doesn’t push the envelope far enough. What unique features does Asiacoin boast of of today:
- It’s the first “continent” coin
- It’s the first country coin with POS
- It’s the first POS coin with 100% interest in year 1
None of it is very exciting or unique… BUT it’s enough at this stage. Remember, we are VERY early in Asiacoins days. I actually think the biggest innovation that Asiacoin could make would come in the form of a “new and improved” multipool. It’s clear that’s what the market wants (see Fluttercoin’s recent “standard” MP announcement and subsequent selloff ). We are about to see a war between multipools (whitecoin, blackcoin, fluttercoin, asiacoin, etc) and the MPs with the best profit switching algorithms are bound to win.
Long term I would like to see Asiacoin provide the market with a significantly improved multipool (in addition to full transparecny telling everyone about it weeks beforehand). The good news is we’re still at least 5-6 weeks out from a multipool and there is plenty of time for the AC community to improve it. Another idea I’d like to see them pursue is really “owning” asian multipools around the world. This is Asiacoin after all, shouldn’t it have thousands more Asian miners around the world contributing to additional hash rate?
Asiacoin is so undervalued right now. Strong support between 8-10 EVEN with miners dumping the biggest blocks. In less than 24 hours Asiacoin blocks will halve from 10,000 to 5,000. Less supply flooding the market means price WILL rise to a new floor of 20-25 imho. One week after that, POW ends and price will again increase. After that we’ve got multipool to look forward to. And then there’s all the other announcements along the way. Some people talk about hitting 10K easy. I think this coin has the potential to touch 100K within one month if developers step up. Call me crazy.
Perception is reality. Just look at the two sites above — Asiacoin and Caishen Coin… which one would you rather place your BTC in? It’s not even about the fundamentals — humans are irrational. Design and UX matter when making decisions. Asiacoin is already sporting a best-in-class website and logo at SUCH an early stage. It’s honestly what initially drew me in and hopefully speaks to the quality we can expect from the dev team in the future.
So have I convinced you? Good. Go ahead and accumulate while the price is ridiculously low. You could most definitely flip this coin for a quick 100% gain and never look back. But that’s not who I wrote this post for. I wrote this for those looking to take a gamble on life changing gains…start accumulating now if you haven’t already but please…
DO NOT HYPE THIS COIN BEFORE POW ENDS
What we need right now is a SLOW and steady rise. Miners are the primary ones who benefit from a price rise this early on. Do you know how Blackcoin reached 90? SLOW and steady price increases before big runs. The last thing I want for this coin is to be another quick pump and dump. Even though I’d stand to make money, I want this coin to change my life and hopefully yours too. So please, share this article if you enjoyed it, but please do not hype Asiacoin until POW ends.
I know none of this is perfect. I’m sure you can find holes in my arguments. But we live in a world of incomplete information. Trading crypto is both an art and science. We must use what we can to form educated predictions if we are to beat the market consistently. I’ve made my choice and I hope you join me on what is a long and prosperous journey for us both. See you in Mexico…
You can follow me on Twitter @Crypto_Bull
I accept Asiacoin donations: AZEeAtKe8UwcnWyxsDxgR4hAEh3cG9wZfm
