What is Social Send? Why should we care?
Is it a good investment? How does the staking work and is it profitable? We will take a look today.
I recently became interested in acquiring a cryptocurrency masternode, and my research led me to Social Send, a cryptocurrency aimed revolutionizing content creation rewards on legacy social networking site like Facebook, Twitter and more.
Today I aim to explain Social Send, my interest in it, and progress at implementing my first ever masternode which will earn me passive income.
But before we go any further...
What is Staking?
For those who do not know what staking is, check out my prior post on that linked here, or have a peak at this explanation.
Why Masternode, why not Mining?
PoW mining is intriguing opportunity also but the technical know-how, hardware costs, and parts availability are all barriers for me personally, and therefore I have been lead me to Proof of Stake (masternodes), as an opportunity to passively earn crypto.
Why Social Send?
Following hours and hours of research on first which coins allow staking rewards, and second, which enable masternodes, the cost of setting one up, and of course after reviewing the fundamentals of the project in question I decided I should invest into a Social Send master node, and so this week I bought 6,250 Social Send tokens.
Projected Earnings with Social Send Staking:
Social Send Masternode Stats:
For More info on a Social Send Masternode, visit Masternodes.online:
https://masternodes.online/currencies/SEND/
Social Send: "Easy as Pie"
For those who do not know Social Send was previously known as Piecoin, making their motto "Easy as pie" a very clever play on words.
What is Social Send?
"Social Send is a blockchain project advancing cryptocurrency into social networks... SEND’s goal is to be the catalyst that takes cryptocurrency into the hands of the masses."
-https://socialsend.io/
Why I am interested?
- As people see how decentralized social platforms reward content, legacy networks like Facebook and Twitter will begin to lose users, unlesss the legacy networks adapt, and begin to pay users, creators and curators.
- Social Send can be seemlessly implemented on the backend of these legacy networks, allowing the network to retain its user base while offering the user the desired content rewards.
- Social Send is very inexpensive at this time, the market cap is around $5,000,000 making each token worth approximately 0.15 USD.
a) Certainly that makes it volatile and risky however, I feel the potential upside makes that risk worth taking.
b) It would take very little actual adoption for this market cap to 10x, and any meaningful news could result in absurd gains.
Coinmarketcap.com: Social Send
-https://coinmarketcap.com/currencies/social-send/
Conclusion:
Social Send is a very small coin with big dreams, it is very risky, but their project is interesting and their vision is intriguing. If they took even a small slice of the social networking system, either through direct adoption and implementation, or through indirect adoption by the users on their own, this coin could easily 20x!
How can I say that?
Look at the market cap: 5 million dollars, for coin with a relatively small total supply, 34,264,697, and which has utility as a social networking reward, but also privacy functions which are so hot right now, and then consider Redd Coin with its 250,000,000 market cap!
Since Redd is a direct competitor, you can imagine that their market cap is a potential reality for Social Send, not because SEND is poised to overtake RDD, but because this market is big enough for both to grow wildly.
Consider the value of Facebook and Twitter, how much of their value is a direct result of the free quality content they get from their user base.
What if those users could claim their rewards directly, don't you think they would want to? Yes. They would. They are. Look at Steemit's recent 100,000+ users per month every month, we are growing because decentralized social networking is preferred due to content creation rewards being received directly by the creator.
Add to all of that, the fact that staking is going to deliver "free" coins to my pocket and you begin to see why I might be so bullish.
Right now a masternode costs less than $1,000 USD, its not free, but as far as masternodes go that is very inexpensive, and if you want to do your research I think you will agree it is one of the few masternode tokens with a set up cost under $1,000 USD that is worth considering. At least that is my view, let me know if you agree in the comments below!
My view on this coin is skewed by my personal investment and interest, but suffice it to say I strongly believe that the market cap will grow, and I believe 10-20x is easily attainable, while 100-200x is possible, but of course WAY beyond the scope of my realistic imagination for now... for now.
If you enjoy the post please consider up-voting, commenting, resteeming, and following. Thank you for your time and attention, and have an awesome day!
Disclaimer:
I am not a financial advisor, I am just sharing my personal story here on Steemit. I hope this adds some value to your day, but please do not invest simply because I said I did, do your own homework and research.