Can you believe that another X11 country coin is heading into the crowded altcoin arena? With so many launches, you might start to believe that there is a never-ending insatiable demand for new coins. Of course there’s no proof of that, but that hasn’t stopped the erstwhile code copier behind this new coin from giving it a try.
Let’s take a look at the basics.
The coin specs:
Premine: 50%
Proof-of-Work: X11
Total coins available: 50.000.000
Block reward < 300: 5
Block reward => 300: 50
Block reward halves: 350000
Difficulity will adjust every block with DGW
Yes, a 50% pre-mine. That’s following the Auroracoin model which was popular until March. This is the standard country coin clone that purports to help removed the debt from a nation. The trouble with this should be obvious to almost all who watch.
In the case of a 50% premine the community of altcoin enthusiasts must have a ton of faith in the development team. It’s required. Since the dev controls have the entire block of coins at the moment of launch, any dumping by this person can cause real pain to others.
What Has The Dev Done To Build Trust?
The dev ‘xploreredfusion‘ released Giarcoin on March 28. He’s developed two cryptocurrencies on one month’s time.
The amusing thing about his marketing approach is evident in the Ann thread for Giarcoin. He lists the sellings points for that coin as:
- No premine.
- No IPO.
- No scam.
That means he thinks that premines and IPOs are a scam, yet he’s back here with his hand out a month later with a HUGE premine AND and IPO. The stance is hypocritical at best.
There hasn’t been much progress with Giarcoin. In fact it appears to be listed on no exchanges. Whether this complete lack of interest is what prompted the Dev to start yet another altcoin is anybody’s guess. From where I’m sitting, that looks like a bad sign. What happens in three weeks when his new country coin struggles? Will he litter the crypto lanscape with another useless clone coin?
We shall see.
This coin has as much chances as any of succeeding. It will take consistent, determined effort and continuous progress in order to really bring a big return.
In any event, this coin will launch in a short time. Good luck to all.
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