What is Black Coin
According to the website www.blackoinc.co "BlackCoin is a peer-to-peer digital currency with a distributed, decentralized public ledger" it uses Proof of Stake 3.0 as it's form of security. the coin itself was released in Feb 24 2014 and none of the tokens were pre-mined.
How does it work?
Black coin provides
- medium of exchange for goods and services
- Annual interest of 1% of tokens kept in open wallets ( to help process transaction )
- 10 second transaction speed
- expanding to PoS ( point of Sales ) tranactions to accept blackcoin in stores globally.
Looking at the charts
Currently Blackcoin is sitting underneath the .236 fib level ( or 57 cents) and has been there for over 2 years.this Fib level has acted as resistance since April 2014 where price went as hit as $2.59 USD. Price action has retreated sharply over the last 2 days and may move further down over the next coming days to this average range of .0001 to .00006 BTC ( or 29 to 17 cents )
How does it compare ?
It currently is ranked 68th on www.coinmarketcap.com. Market cap is $38,003,089 USD and there is currently 76,184,252 Blackcoin tokens in circulation.
Final Thoughts:
My humble opinion, I understand about the transaction speed is a good thing I like the idea of the interest paid day for annual total of 1% and it is one of the few Proof of Stake coins out there. these are all good points, however I don't see true differentiation between this coin and something like Bytecoin or Dash or even the bigger Privacy coins like Monero. It doesn't stand out from the crowd of pure currency purpose coins. that being said I am sure there is a community out there that would prefer this coin over any others and if you were a miner it would be advantageous to you. But Mass adoption is what I would want to see for this currency or a specific niche it caters to for it to be different from the others.
Therefore I wouldn't invest in this currency.
But if you can give me a reason why please enlighten me.
Like roll safe always says You can't give an opinion if no-one asks - please upvote resteem and follow there is plenty more to come.