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RE: What's the Next Verge? My Speculative Gamble

in #cryptocurrency7 years ago (edited)

NAV is one of the speculative coins I am invested in as well and thought I would add my two "non-investment-advice two cents (both positives and negatives) on the coin.

Positives: (1):the team is fairly responsive and tracks well to its roadmap and provides frequent updates (https://navcoin.org/news/category/news-2/news/). (2): The NAV team just released an app on android (https://play.google.com/store/apps/details?id=org.navcoin.navpay), NavPay, that allows you to store and send NAV coins using its privacy payments technology (NavTech). I always like a coin that has some actual assets/IP backing up its valuation. (3): It's a Proof of Stake coin, and the team developed a raspberry pi device called NavPi (https://store.navcoin.org/product/navpi-stakebox/) that enables anyone to stake their coins and get an annual NAV coin award of 4% of their nav holdings; they also made a pretty good calculator (https://navtechservers.com/navtech-tools/staking-calculator/) to figure out how you would break even with this investment. It is not everyday that you see a privacy coin where your investment can naturally earn interest, albeit small, on its own like a savings account. (4) It's got a pretty strong community behind it that believes in the project and is willing to roll up its sleeves and help the development team. For instance, earlier this month, NAV was having some major issues due to the instability of its network, Bittrex alerted NAV team of the issue and the team was able to quickly come up with a security patch (https://navcoin.org/news/community-fund-testnet-security-updates/). But, it was done pretty haphazardly, and a lot of users (who were staking the coins using a NavPi) had issues updating their NavPi to the latest security patch. At the time, I felt that the NAV team didn't really have its act together but within a day, a member of the Nav Community was instrumental in helping the NAV team in writing a step-by-step guide (along with a script) of how to apply the security patch, which NAV was then able to publicize on its website (https://navtechservers.com/tutorials/navpi-4-1-0/). While this was originally going to be a negative (a crypto is only as strong as its development team), having a strong community to get through this challenge made me believe in the project more. (5): a community funding vote just passed (https://navcoin.org/news/community-fund-success/) where the NAV development team gets a certain percentage of staking award automatically (it equated to about 1 million dollars per year at NAV's then-current prices) to use on community projects, which could help improve the project's initiatives and marketing efforts.

Negatives: (1) the marketing effort seems pretty lacking right now. NavPay was released on December 20th, but a simple search on google news generated nothing about the project. In a crowded privacy coin field, having a good marketing team to promote the product is just as important as having a good product itself. (2) strong competition from Monero which has pretty strong word of mouth (i.e. 45 musicians, including mariah carey, accepting it for sales (https://www.projectcoralreef.com/) but news could also be a double-edged sword with a lot of news about malware surrounding Monero as well). (3): development team's ability to firefight (see positive (4) above).

Overall: While the team is still a bit in its nascency and need to work on things like marketing, like you said, there's just a natural buzz around privacy coins right now that the rising tide could float all boats. With a pretty strong community (willing to write script and help with the fixes) and an actual app in the market, I think it's got some potential to move up. While it's already experienced some significant gains this year (I took a really speculative investment back in early October when it was still around 80 cents), it could potentially still be a worthy gamble to multiple a few more times before 2018 is up (assuming the entire cryptomarket doesn't enter cryptofreeze due to issues around tether or bitconnect blowing up the sector). But again not investment advice, just some of my thoughts.

Lastly, just wanted to say love your videos on Youtube, really informative, and I love your sometimes "break from the norm" perspective that allows me to more critically and rationally think about cryptoinvesting. Keep it up!!

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Thank you for all that information on NAV. I appreciate your contributions (they add value to the thread) so have thrown you an upvote. Not worth much (for now), but I like comments like these as they help others quite a bit. Hope you stick around for future and thank you for the kind words about my videos!

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