You can never be too sure which altcoin is going to take off like a rocket. If you’re not careful, you’ll end up getting mixed up by the wrong clues. Take Libertycoin for instance. If you take one look at their official website, you’d be confident these guys aren’t serious about being successful in Altcoin City.
After all, even a rookie web designer generally replaces the Latin placeholder text with their own! Not Team Libertycoin, though. Update: after reading this thread, the ‘Dev’ commented as ‘Altcoin herald‘ then went to his ANN thread and deleted my post that linked to this article. Next he threw his site into ‘maintenance mode.’ It looks like we got ourselves a real sensitive type here, folks.
Where they’ve excelled is the area of exchange listings. It’s supposedly pretty hard to get on MintPal. There are coin communities who have been attempting that feat for months now.
Libertycoin is already on 7 exchanges, after launching earlier this month. What’s so special about this new altcoin?
Here are the coin specs:
- Algorithm: X11
- Total coins: 16,500,000
- Block Times: 1 minute
- POS interest: 1% per year
- Min stake time: 8 hours
Seems standard enough. The low total count of coins is probably one factor that’s pushing the valuation of XLB up. Another thing they have done right is skipped a premine. That’s extremely rare these days, and is a sign that the team is not going to be directly dumping into the market along with speculators who arrive later.
They also pre-announced, avoiding the FlashCoin label and had no IPO, so scam accusations would be kept to a minimum. This relative lack of scandal on the Altcoin Launching Pad is enough to get speculators to notice.
There Was A Crap Launch And Some Scandal
The launch was late. There was talk of a ‘vote‘ for a relaunch, etc. In the end, Libertycoin pressed on and most miners got over the launch. Smooth altcoin launches are as rare as 32 year old virgins.
Modern altcoin miners and speculators have a strong stomach for miscues. In general, if there’s a buck to be made, they’ll get over their uneasiness.
The original thread made the claim that Libertycoin was going to use a Zerocoin implementation for anonymity. After the claims were challenged, the thread was altered to remove that reference. However, you can still see it was there from looking at early replies.
The thread is a ‘self moderated‘ one, which is never a good sign. It means the ‘Dev’ is sensitive to criticism and will probably delete posts that question his authority. Despite the moderated status, the ANN thread has already degenerated into quite a mess about which ‘pumper‘ is the best.
Libertycoin appears to be nothing particularly special, other than the limited coin count and the interest from pumpers. In reality, that’s more than enough for people to get in and out with a quick profit.
The fact that XLB is on Mintpal and is third in volume in the last 24 hours with 434.708 BTC is all you need to know. Keep your eyes open, get in while the getting’s still good. Then you can ride the price up on the sea of volume until the bubble threatens to pop. Make sure to take profits and get out before the dumping begins in earnest.
If the ‘Dev‘ rises to the challenge and allocates resources correctly while demonstrating leadership, Libertycoin could sustain itself on the road to long-term success. In the meantime, speculators who are looking for quick profits will trade in and out.
Thanks for stopping by and reading. Feel free to sound off below.
Update: The Cartoon Coin Dev deleted my post in his thread to this article. We’ve got a real War-Time Propaganda situation going on here!