Shady Project: Biggest Shock in 2017
I’m not sure many of you know this but ShadowCash didn’t start out with the mission of creating an entire suite of privacy tools, highlighted by a decentralized market. An article came out in 2015 that gained a huge amount of traction and we all looked at each other and thought, “Wow! This just got real!”
This was the opening statement in a recent article wrote by shadow project's lead developer Ryno Mathee, an announcement that ripped everyone who believed in their project.
I was caught unaware of this announcement and enthusiastically bought what looked like a promising bullish harmonic pattern during the dip.
The price dropped instantly to near 50% when all other alts were rising. I thought sdc was on sale. It was a trap.
Apparently $SDC dev team had been developing new project that will kill $SDC called Particl a "free market''.
SDC just broke ATH at 30 Million USD market cap when it announced the dev team abandoning the project in favor developing Particl. Amassive drop to 12 MM market cap followed after announcement in a short span of 3 hours, very impressive...
What's even more interesting is that, SDC is the only ticket to be part of the Particl network prior to its launch. You have to convert your $SDC holdings to Particl in 1:1 ratio to get a stake at their ICO. For those who are willing to participate in this new project,
@prufachy just made a tutorial about this.
This scheme gives bag holders an option to join their new ICO or hold on to a dead coin or sell at a loss. I'm not going to invest on a new project knowing that its dev could keep their investors in the dark and just abandone the project in a whim.
I sold at a lost. While it could be possible that the ICO, if it would gain traction, would diminish $SDC supply and might create short term demand for the currency, I did not take chances. Its not worth it. I'd rather put everything on $steem.
Here's a link to SDC announcement.
https://blog.shadowproject.io/2017/03/17/particl-a-new-platform/
Stay safe and Happy trading!