HOdlCoin: the coin for holding purposes

loonyfool (51)in #cryptopedia • 6 years ago (edited)

In the world of cryptocurrencies, there are 2 main strategies: either day-trading, with all the stressful moments that it can involve, and relying on long-term evolution, or holding. This is usually done with coins that we trust, coins backed up by a serious team of developers who really want to keep it on track. There has been a coin created for this particular purpose, and we're gonna make a review of it.

-----About the coin

It may be the 709th coin right now, but its impressive recent surge of 384% makes it our coin of the day. Strangely I didn't hear about it earlier, because it is according to their site the cryptocurrency with the highest interest rate: apparently, 2000% have been paid in the 1st year to attract new "HOdlers", and a 2600% interest rate was given when it was created on May 1st 2016. That means if you had purchased 100 HOdlcoins, you would have been offered 2600 HOdlcoins. In a nutshell, it favors holders over traders. There is really not more to be said about it, as its purpose is very clear and interest-oriented.
Their website is very informative, with an interesting short presentation video giving more details about HOdlcoin.

http://hodlcoin.com/

Here is their source code

https://github.com/HOdlcoin/HOdlcoin

-----Evolution

Evolution of the value of HOdlcoin since its creation.

Screenshot from 2018-01-19 07-51-04.png

From this graph we can clearly see its value rapidly decreased at the beginning, as it lost about 10 times its initial price, going from 0.3$ to 0.03$. Then it stayed relatively stable until that interesting burst we're gonna see in more details.

Evolution of the value of HOdlcoin in the last 3 months (October 2017 to January 2018)

Screenshot from 2018-01-19 07-51-59.png

We can see the big rise happens on December 18th, as its value is still at around 0.02$: it rapidly bursts to reach 0.17$ on January 8th, so almost a factor 10. It would have been interesting to have some investment on it by the time, but given what has happened, and what can still happen, I guess it isn't too late, as there is still plenty of room to grow (or to lose then grow).

-----My personal view

You know in this world, certainty is not a common thing. But still, I believe if the teams carry on with their work on a daily basis, HOdlcoin can have a bright future. Of course it doesn't yet have the technology of other more successful altcoins like EOS or IOTA, Stellar, but still, I am going to put this coin on my observation list, and maybe I will even put something on it if it comes back at a value below 0.1$. You should always apply this golden rule: expect the best, but be prepared for the worst ! That means you only have to invest what you can afford to lose, so with this coin, I think it is worth taking a little gamble once its value loses this "factor 10" again, you see what I mean, there will be more room to grow fast easily. And even if it doesn't, you still have plenty of time ! No need to panic with such a coin that is interest-oriented (focused on giving more and more interests to its holders in the form of rewards).

That's it ! Thanks for your attention ! I will be back soon with more of the same kind ! Stay crazy and keep making fun of life instead of letting it make fun of you :D

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6 years ago in #cryptopedia by loonyfool (51)

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yogalight (34) 6 years ago

Thank you, I enjoyed learning about Hodlcoin. Would have been great to get in on this one when it was paying the outrageous interest rates!

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loonyfool (51) 6 years ago (edited)

Yes same for me, there are so many coins, it's crazy, you have first to manage classifying the serious ones from the less promising ones, and well that's a painful and long task, I guess I'm organizing it well by reviewing it for myself and sharing it here; you can look at my other crypto posts, it sums up what I've done until now in my quest for the most promising altcoin that has not grown up yet. Basically what I do is go on this site https://www.ccn.com/ daily , on the front page it shows the winner coin of the day and the loser coin, and then I try gathering information about the winning coin that has gained a lot lately. That is my method in order to end up gathering all of them on a shortlist, at a time you can have a pretty interesting list of potential growing-up coins that no one has yet fully explored as they are often ranked very low. So there is more room to grow if they are under 0.1$, it can get a factor 10 faster, that's the only thing I'm looking for, but again, then you must also find the right market in order to get the coin and manage to cash out the money you earned either in fiat or ideally part of it in fiat to keep and part of it reinvested into ETH or some other coin worth holding during a long time to let it grow again. :D

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yogalight (34) 6 years ago

Thanks for sharing your methodology. I started going down the list of the top 100 and researched what each one did and how it's reviews were. Then if I really liked the idea or potential I would research some more and look at the graph to figure out a good entry point price that I felt comfortable with for the ones that I decided on. I'm trying to narrow it down to favorite 5 but thats a tough one, because there are so many great options!! Cheers!

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loonyfool (51) 6 years ago

Yes as you say, it's the perfect method, because right now I feel Ethereum, Bitcoin, all those "big" coins are way too expensive and it's no longer worth it, especially with the high fees, you won't start thinking about making profit before a long time with the crazy prices right now. So let's better look for the best entry point as you say and find the next Bitcoin ! This is more realistic, the quest is harder, takes more time but if you do find it it's definitely worth the painful hours you spend on it. There are dozens of ICOs created every single month, or week, so all of them are offering interesting offers like free coins, things like that, I prefer sticking to this, because you know you won't lose much but you can gain a lot soon :D; that's what I prefer writing about, all those ICOs or developing coins that can have the potential to burst.

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