History of cryptocoins, This was a smart move. - My story - Episode #9 - SmartCoin
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This coin really i just got from the giveaway. Never bought more or mined for it. I think, but i could have mined it a little but it never had my focus.
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So what stood out when it launched? Well i got them for free. And they had this huge lists of future projects. Like android wallets, gambling and a marketplace. These days the promise of 1 of those features alone was a big thing. Imagine three.
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So what did it do. Well it was the first time i witnessed a more organized giveaway. You could cheat a little to get more coins. But you needed more email addresses and ip numbers. But why would someone do that ;-)
The site looked nice and there was something of a presentation. You guessed it. I thought this could be something. Not for the first time that i was wrong.
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This is what the developer had to say about it.
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"Anonymous peer-to-peer cryptocurrency. Available with a fair start for everyone. Now that is smart"
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Before we go to the rest of the story. Here are the stats.
- 5 minute block target time
- PoW Algorithm: Scrypt
- Total coins 51,200,000
- Block Interval: 40 seconds
- Difficulty Retarget: Every Block (Kimoto's Gravity Well)
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So what happened.
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The coin launched nice and soon we saw the normal things going on. Begging for 60 SMC on bitcointalk. Yeh i post my wallet address also. I also got 370 SMC because i gave my email address. I got some more from people i know and have nothing with cryptocoins. But they wanted to help me, lets put it that way. So i had a nice amount of SMC.
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Ofcourse the prise would pump and dump several times. I never have a clue how it works exactly. I could figure it out for sure. But i am not patient enough to be trader. There was the usual talk on bitcointalk. About someone who would buy for 30BTC worth on SmartCoins and so on. It was all a game ofcourse.
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The real problem was the general down trend for all altcoins. The only coins that seem to be do well after march 2014 where the gimmick coins like flappycoin. So i went out with a little profit. Well i never had to buy them, so what could go wrong. Well i could have made much more profit. But it could have been worse.
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I noticed SmartCoin still exist although in the margins. More a thing traders like to play with then something that will conquer the world. Sometimes being smart is not enough
Next coin will be a gamble
If you like the stories follow me at @disofdis and don't forget to upvote :)
SMC is still around. And a nice niche coin.
Smart was forked long ago to be mined on x11, and the max coins reduced, around 36M.
The network has fair numbers, but the best part is that it is one of the easiest blockchains to sync. Very light and fast loading wallet.
Current goal, and goal since around spring 2015, is not to take on bitcoin or even doge. Instead, Smartcoin is focused on a gathering of intelligent people to organize themselves and their talents around this crypto coin. It will likely take years, but in the meantime SMC provides a robust and stable blockchain with several markets to trade in, think of it as the "Smart" club coin. http://smartcoin.cc/
Other current projects are a general study of the crypto markets and 2.0 platforms as they develop and investing into them when it is smart to do so. This collective fund will be used to maintain and promote SMC.