Steem
$0.91359 5.27%
STEEM · 62w

Be careful fellow redditors! Just because this pump and dump is different from what we're used to on the cryptomarkets doesn't make it not a pump and dump

I am editing this post at the top with the due diligence that I've performed on ChainCoin, I'm not FUDing what I believe is a good coin, I'm warning you guys from investing in something that has seen very little development. This update was made in response to a comment from @apollo92

There is a huge difference between organic growth of a coin, and having someone on the internet tell you "let's buy a low volume coin and hodl it and shill it so we can all make money somehow" I'll enumerate some of those differences here. Firstly: Coins that grow organically tend to have active developers and great communication to those who follow the coin. The last tweet on ChainCoin's twitter is talking about their live funding over 1 month ago... (Source: https://twitter.com/chain_coin) Secondly: Coins that grow organically tend to stick to their roadmap, or update everyone when goals are not being met or are being pushed back. ChainCoin has not met several of its Q2 2017 goals and has not updated its roadmap to reflect this (Source: http://www.chaincoin.org/development-roadmap/). Thirdly: Most great coins will have an active github. ChainCoin hasn't had any changes to their git for over 2 months now (Source: https://github.com/chaincoin/chaincoin) Fourthly: Most alt coins have slacks in which investors can talk to the dev team and ask get updates! ChainCoin, however, does not have an open slack group (Source: Try entering your email here - https://chaincoin.herokuapp.com/invite)

I have done my due diligence, I've been investing in cryptocurrencies for years, I've seen monstrous rises and falls of other currencies. I know what a good dev team can do with an idea, and how it can positively affect my portfolio. What I can't see, is how youtubers can shill a coin, get a bunch of people to buy it, and then claim it will reach 100 dollars which would push the market cap of this coin with lackluster dev and commication to over 1.5 billion (pushing ...

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