UNIT: Universalcurrency is on fire but almost nothing is known about it

in #steemit7 years ago (edited)

Universalcurrency, or UNITs or UNITCOIN, has an interesting name but that's about ALL that's known about it. Their website is barren of information, other than instructions on how to download the crypto-currency's software. When you hit "download" it's frightening bc it IMMEDIATELY brings up a box to download UNKNOWN UNVERIFIED code onto your device-- so we HIGHLY recommend you don't do this.

Per the website....
https://www.u-currency.com
UNITs have 12.1 million coins outstanding, giving it a market capitalization between $100,000 and $300,000 depending on the day! Furthermore, there's no volume whatsoever so that market cap is NOT to be believed. For instance, the volume today was about $1 (one dollar) and the price moved over 200% on that single trade on Yobit exchange.

What is it? They claim to be a de-centralized cryptocurrency. That's about the extent of their explanation.

Conclusion: there really is NOTHING to this currency, and you should ignore it despite it's #223 market cap ranking today. We figure if you actually had $10,000 worth of this stuff, you could probably sink that market cap down pretty close to zero with some small sell-order activity.

IMPORTANT NOTE: Universalcurrency should NOT be confused with Monetaryunit (MUE) or Unityingot (UNY).

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