PacCoin has a new development team that is very active and Saul Wolf has been doing a phenomenal promotion and re-branding of its former self, Pacifica Nation. This is definitely a step in the right direction. The first time I saw this coin it reminded me of Pac-Man, also, not a bad marketing ploy in my opinion. Who doesn't love Pac-Man?
So What Is The Good?
- The dev team, has rebranded the coin and updated the wallet.
- Masternode redemptions will be ready for 01-FEB-2018. These nodes will be the foundation of the network and owners of them will be awarded a percentage for each block
- Most important - On 01-MAR-2018 a coin fork will take place. The dev team admits that in its current state, this coin would be unsustainable and have limitations. So a coin swap is taking place with a ratio of 1000:1. This will lower the total supply of $3.4 Trillion down to $3.4 Billion. This is amazing for everyone involved as it should push this coin easily into the top 100 rank and attain a higher Market Capital, therefore, coin value would be considerably higher. After the swap, you will not lose any value of your coin. If 1000 coins was worth $1, after 1 coin would be worth a $1.
- The option to stake your coins. Transferring 100 coins or greater into your wallet allows you to collect a 7-9% reward, every 720 hours your wallet is online.
- Positive talks with larger exchanges are in place to add the coin. Binance, Bittrex, KuCoin perhaps?
- This coin has seen some very impressive results on Coin Market Cap, moving into rank 103.
Now for the Bad?
- The large spilke on 05-JAN-2018 that you see... 'I believe' was caused by pump and dump groups and more specifically vloggers. A couple of vloggers posted this on one of their videos that has a viewership of over 150k subscribers. A get rich quick scheme that works. This has detrimental affects not only on the coin, but has the potential too usher in regulations to prevent this.
However, manipulation can be seen in any market, including controlled ones, stock exchanges are no exception. They like to say it's regulated, but i'm pretty sure the 1% already bought into a stock before their media outlets at their disposal hype it up. This topic will definitely be a future post. As George Carlin says, "It's a big club and you ain't in it". To our advantage, Bitcoin and other AltCoins are allowing us to create our own club.
- Currently only on smaller exchanges like Cryptopia, YoBit and Trade Satoshi.
- Their is no clear clear picture of what the coin does other than an alternative coin that is easy to use and transfer wealth. Which isn't a bad thing, considering if you stake your coins you are receiving 7-9% interest every month. What bank does that? or any other investment for that matter?