The problem is one can't really compare it to the prices back in January. The market was in a manic state and pretty much every single coin, including shitcoins rose with several 100%.
In these times I would rather put my money in projects that have their fundamendals in order. Most altcoins these days are -80-98% so the cheap price is not really that much of a argument.
To me it looks like just another shitty POS coin that has adopted the BTC name to gain traction, I have not done a enough research on it though so feel free to shill it to me.
- What does the coin offer that makes it unique?
- How many people are actually using the coin for transactions?
- Whats the community like?
- How many people are working with the project?
TBH i didn't expect anyone agree with me. You're absolutely correct that its just another shitty coin but so are most of the coins in the top 100 - verge, bytecoin, bitcoin diamond, electronium, reddcoin, etc etc - I can go on with this list. The fact is that 80% or even more cryptocurrencies are shit. They don't do anything different, they aren't being used anywhere but still make their way to the top 100 list. I'm pretty sure that you're already aware of the fact that crypto currencies dont work like stocks. Technological aspects don't mean shit as long as there's enough hype, volume, social following and big exchange listings. I've been in this market since the end of 2015 and I've seen pretty much everything that happens. I even got 2 of my cryptocurrencies listed on coinmarketcap. lol (I wouldn't disclose the names though). Basically any average joe can create a cryptocurrency and surround it with some news of releasing a platform around it *which never gets released* and as soon as the coins are listed on the markets, the owner manipulates the price by slowly releasing most of his bags and sometimes buying back to increase the price etc. For these reasons I don't have much faith in the most of the cryptocurrencies because they're all hyped as fuck and the prices can fall terribly whenever the team needs some quick cash. This has happened with so many projects in 2018. Many of them used to have 100M+ marketcap in Dec-Jan, some even had 1 Bill+ market cap for example smartcash.
Here are few things that I considered before concluding that bitcoin plus seems a pretty good investment.
1. It has been around for 4 years. I prefer to stay away from anything that launched in 2017-2018. Things got just too dirty since last year.
2. It has shown stability in prices at all times. If you look at the charts, you'll notice that the price in terms of satoshi was pretty good since Jan - Sep as compared to other cryptocurrencies. The only reason it fell so hard in sep was due to the poloniex delisting.
3. There are over 116,000 XBC (bitcoin plus) in circulation, yet only 3500 XBC sell orders on cryptopia and 300 xbc sell orders on fatbtc. This indicates that there aren't many sellers for this.
4. By looking at the rich list in xbc explorer, you'll notice that the coin has a pretty fair distribution. It doesn't look anywhere list eth tokens where the team decides to keep like 10-20% of the circulation for themselves. Even more actually because the development fund, advisor funds,airdrop funds etc, all fall within the team's holding. I've worked with many projects so I can tell this. Fair distribution are all lies.
5. I traced the team's wallet of xbc and there are only a few transfers from their wallets to exchanges. Also, I've seen many transfers from exchanges to their wallets. This shows that the team isn't here to make a quick buck and keep the investors hanging.
6. I've been monitoring this since mid october, there is less sell pressure on XBC. You'll only notice people selling list 1-10 units of xbc. However, you'll notice some buyers buying like 100-500 xbc at a time and slowly removing all sell walls. The price dropped to 0.00055 btc after poloniex delisitng and it's all understandable as the holders freaked out and decided to panic sell or else xbc would still be around 0.004-0.005 btc. I'm lucky to get in at 0.0008 btc.
7. I like the consistent efforts of the team. They have been regularly coming up with new updates since the last 3-4 years where as you'll notice many coins (in the top 100) which haven't been updated for like years.
mmm, I can go on with this actually. But anyways,
I'll rewrite on this thread when the price touches 0.005 btc in a few months time
It's currently sitting at 0.00109202.
How many people are working with the project?
I know there are 2 people working on improving the wallet etc. And I can tell you that it requires only 1 person to handle the functionality of a coin. It's no big deal tbh.
What's the community like.
Pretty positive and active I suppose. You may check on their bitcointalk thread.
What's new ?
Absolutely nothing. It does have tor, integrated messaging in the wallet, 20% annual return on staking features but I won't say that its anything new.
