ColossusCoinXT is about to explode and the only two exchanges trading it are down!
ColossusCoinXT is an open source, community driven, environmentally conscious cryptocurrency and an alternative to bitcoin that features better anonymity. It allows people to store and invest their wealth in a non-government controlled currency and make almost instantaneous and completely anonymous transfers with close to zero fees. Colossuscoin was founded as an long-standing, energy-efficient and environmentally friendly digital cryptocurrency and this concept is being continued.
ColossusCoinXT aka COLX is a privacy coin that has been undervalued for far too long and I think it is about to explode. Colossus supports masternodes and they cost 10, 000, 000 COLX. The ROI on masternodes is about 30% APR which is a really nice return but the initial investment is insane (currently 170, 000 $).
That might be interesting for the whales but for the rest of us minnows and planktons there is PoS which gives you about 5% monthly return on staking your COLX. The process is pretty easy and straight forward. The only thing you need to do is to download and sync your wallet and put some COLX in and start earning.
Read more about how to stake COLX here and start staking today!
Why I'm positive Colossus will go up?
Privacy coins are the way of the future because when government regulation and oppression on crypto becomes too great people will rush to privacy coins in order to get past to the government trying to steal your hard earned cash. Being listed only on CoinsMarket and TradeSatoshi two small exchanges that aren't really bringing any significant volume.
Colossus isn't getting the needed attention to bloom right now but that is about to change as it will be listed on Cryptopia any moment now and will probably be listed on Bittrex soon after.
Because of the news about Colossus being listed on some major exchanges a lot of hype has accumulated and people are rushing to buy their COLX causing TradeSatoshi and CoinsMarket to crash making COLX currently impossible to buy leaving me filled with rage refreshing the exchanges for the last 4 hours.
)I was a fool not to listen to @enjoyinglife 2 days ago when he was telling me about Colossus and how I should get some. In the mean time the price went up by 65% and they can't be bought anywhere....
Is a 30% APR for Master Node holders sustainable? With this many coins being created annually is it possible that the basics laws of supply & demand will actually restrict the potential for growth in the "per coin" price?
My other concern is a system that favours the already rich. How is it fair that someone who already has $170,000 to invest is rewarded with such a high percentage of the rewards when compared to the average COLX staker?
Obviously, I love the base protocol for the project (I am on the PIVX team). But I am having trouble understanding the value that COLX brings to the economy above and beyond PIVX?
When PIVX forked the DASH protocol a very different coin was created primarily focusing on fairness, equality, and a better wealth distribution globally. My initial assessment of COLX is it is similar to PIVX with better coin rewards for the wealthy. I am fighting to level the playing field, not widen the already increasing gap between rich and poor. For that reason I am going to stick with PIVX.
I have little doubt the FOMO will be strong when markets re-open after availability being restricted. Cryptopia won't be massive, but it all helps. Bittrex would be a huge win for the COLX team and investors.
I do wish the COLX team and investors all the best with the project. It is important for people to be given choice. And despite preferring PIVX, I would still take a big bag of COLX over my Aussie dollars any day!
A well-constructed article highlighting the importance of coin availability.
Thanks for the info,
Fish
I'm not sure about the sustainability of the masternodes, never thought about it just because they favor big investors and yes that's an issue but people could pool to get a masternode if they were smart enough :)
I understand your concerns and views comming from PIVX but I like investing into underdogs especially when I see such potential growth. The market is big for privacy coins and COLX will it's share in the next couple of months imo.
The FOMO is not in COLX not being available but it being listed on major exchanges soon.
Glad you appreciated the post, thanks for such and extensive answer.
how can I get it too, is it still a token
Keep refreshing TradeSatoshi and CoinsMarket :)
Ok
best. I like your post