Another Crypto Trade for the Rest of 2017
The other day I wrote about Factom, a cryptocurrency I think has plenty of upside ahead. I have another one for you today.
And that is Syscoin (SYS). I wrote about it last August. At the time it traded around 1,800 satoshis, or about a penny. Fast forward to today and one SYS will cost you about 8,600 satoshis, or $0.21. That’s a 378% return in bitcoin. Or 2,000% if you’re counting in USD.
I think it still has plenty of upside.
Some call Syscoin the eBay cryptocurrency because it’s been described as “like eBay”. Developer Dan Wasyluk describes it “like eBay stores or “Buy It Now” listings with a payment and escrow service built-in.”
It’s a proof of work cryptocurrency with roughly 525 million coins outstanding right now. The ultimate supply is 2 billion.
Syscoin is the main product of Blockchain Foundry, a software development firm focused on the blockchain.
The Blockmarket product is currently in beta 4, just announced on June 12. One new feature I noticed is that Blockmarket will now include Changelly. Further, Blockchain Foundry mentioned it would soon make an announcement about having the team go full-time in a new office and the ramping up of development resources.
That’s good news because it’s got an ambitious roadmap.
Also on slate for 2017 is getting Blockmarket certified on Microsoft’s Azure marketplace, proof of concepts, a mobile version of Blockmarket, a Blockmarket Twitter bot, and a Blockmarket ad network.
Exciting times ahead. Long SYS.
Hope for you that you invested a lot in syscoin last time you mentioned it. Seems like a great increase to behold and it will probably go up even more from this point onward. Will consider investing some in it as well just to see what happens next to it. Have fun out there and good luck with your future posts!
Yes I did, bought both SYS and FCT last August. My biggest winner to date though... DGB.
There will need to be a consolidation of the alt-coins at some point to sustain the exponential adoption needed to make it a currency that is used by a large population. All of the alternatives in alt-coin tech leads to speculative investment, but our end game is to make it an accepted currency for daily transactions. Otherwise we're just creating a bubble in this sector of the market.
I agree but it will be some time until that consolidation happens. Until then take occasional profits and stack BTC.
Oh, I'm all for it. Wealth is created riding bubbles, and buying the dip.
Solid post. Interesting to see I'm not the only one that is thinking about this. The crypto space brings the biggest group of uneducated investors with it. This group will only grow. We do need more indept investment analysis. I found this amazing platform: https://www.coincheckup.com Supposingly they researched every crypto coin in the scene based on: the team, the product, advisors, community, the business and the business model. They even score the coins stengths. Go to: https://www.coincheckup.com/coins/SysCoin#analysis To watch SysCoin Analysis
bot