Whilst everything in crypto is a bloodbath, one cryptocurrency in particular has been holding steady very well, even making some gains. I am talking about ChainCoin (CHC), a relatively unknown cryptocurrency that is starting to make waves. Although the coin seemed at the end of it's life, ChainCoin has seen a sudden resurgence in price that, despite Bitcoin and alt-coin crash, seems to push on through. Since the beginning of this month when it was traded at around 3000 satoshis, the price has now increased to by almost 1000% as it is creeping past 30000 satoshis.
ChainCoin is a cryptocurrency coin originally created back in 2014 for anonymous transactions. It's originally a fork off of Dash and despite Dash taking the headlines with X11, ChainCoin pioneered a similar technology before Dash did.
What interests many investors is the opportunity to acquire one of the masternodes in the network. Owners of 1000 CHC (about $700 at current pricing) have the option of locking the coins down into a masternode to add to the strength of the network. For this they receive a residual income - each masternode is paid out in CHC from the block rewards, as well as from transaction fees.
At current prices running a masternode will make the owner approximately $1.50-$2.00 each day, or about $45-60 a month. In theory you would make a return on your investment from the extra profit alone in about one year. At this moment a ChainCoin masternode is still the cheapest masternode on the market, well within reach of smaller investors.
Considering you can also choose to keep your extra income and potentially reinvest in more masternodes, this quickly becomes an interesting proposition for an increasing amount of investors who are seeking to weather out the storm that the market is in.
It becomes even more interesting when you consider how much potential this coin has to grow. The current market cap is only $10 million and growing. As others invest and jump on-board, supply is being locked up in masternodes and taken out of the market and Supply vs. Demand dictates prices must go up when the supply goes down. For each and every new masternode, therefore, the price will slightly rise and increase residual profits even more as the price per coin rises. It is the ultimate coin for people who 'hold', and therefore offers significant strength against pump & dumpers.
For this particular cryptocurrency, investors definitely have taken notice. More and more people are flocking and a thriving community reminiscent of Doge in it's early days is forming based around community spirit and the 'HODL lifestyle'. The race to buy as many ChainCoins for as cheap as possible is on, as whales continue to set up buy and sell walls to thwart eachother. Considering the incentives there are to holding as opposed to selling, this coin has already been dubbed as 'the ultimate HODL-coin', and HODL-memes are spreading like wildfire. Even smaller investors have taken up this hold-mentality, and many seem to have formed a trust-based alliance with the masternode owners and are willing to hold on to their coins instead of selling for small profits. Word in the community is that this coin's actual value is actually going to be closer to that of Dash. On the dream of potentially making 50x, 100x or even more gains, the incentive to 'HODL' becomes even stronger. Fewer and fewer are willing to sell their coins for pennies, as they realize it's true value will end up possibly being triple digits. It's clear: Something definitely is brewing, and when the community gets behind something, small miracles can occur. After all, the only reason Bitcoin is worth as much as it is is because people believe in it. And belief about ChainCoin definitely is spreading. Is this a self-fulfilling prophecy? Despite having multiple chances to dump the price has remained on a stable and growing path, indicating that accumulation is taking place. Chart is looking healthy and strong.
The news is spreading and the hype is on. If a single ChainCoin indeed ever reaches a price of, say $100, then owning a single masternode could net an income of about $6000 a month. Not bad, for a $700 investment. I have had serious doubts at first, but after researching the potential and community, I am now also a believer. This is definitely a coin to buy, and HODL. As always, cryptocurrency trading is inherently risky and investing in an even lesser known alt-coin such as ChainCoin is even riskier. At the time of writing, www.cryptopia.co.nz is the only trading platform where trading of CHC occurs. I do not recommend investing your life's savings into this. But I do recommend that you take a tiny portion and get in early, and see where this goes. If nothing else, atleast you may weather the endless downtrend every other coin seems to be in. Whilst everything else was down 20%, my money was safe in ChainCoin.
Are you going to invest in ChainCoin or are you already HODL-ing? Let me know!
Also, please spread the word and upvote or Resteem my post. It would be good, especially for smaller investors, to know of this interesting opportunity before all the ChainCoins get gobbled up by the big players (!).
Are you going to join the HODL-movement?
