I want to start off by acknowledging the sheer number of coins that are now available in the crypto world. Looking at coinmarketcap.com, there are currently over 1000 coins, granted lots of those include the low volume section, but the point is you can search for coins all day long. Oh, and I forgot the include all of the ICOs and new coins that are currently under development. Things are definitely looking bright for the cryptocurrency world. Now, why we're all here, Espers. Maybe the title attracted you because you too want digibyte gains, well let’s get into the analysis...
Tech Specs
Espers made their first post on the bitcointalk forums on April 12, 2016.
- Abbreviation:ESP (2.0)
- Algorithm:HMQ1725
- Max Coins:50 Billion [ESP]
- Type:PoW/PoS
- Reverse-ICO:20% (They gave away 20% of the coins through social media bounties)
- Reserved for Development:5%
- Block Time:Initially 15 Seconds | Now 3.5-5 Minutes
- Port:>RPC - 22442, P2P - 22448
- Auto Updater:Windows only
- Auto-Generated Config:Yes
- In-wallet Miner:CPU/GPU (Under Development)
- Date Founded:April 12, 2016
- Current Developer:CryptoCoderz
Why Espers?
What excites me about this project is what is to come soon and the current positioning of the coin, given the price. Heading over to espers.io you are greeted by what looks like a clean looking website and it feels relatively user friendly. The Android mobile client is set to launch very soon along with the whitepaper for the project. I remember looking at verge at below 10 Satoshi, I do believe after they released their "blackpaper" as they called it, it did have a big run up in price. Another similarity can be seen in the circulating supply of coins. Espers has about 20.4 billion, digibyte is at 8.7 billion, and verge is at 13.4 billion. I was lucky enough to be able to buy Digibyte a few times below 50 satoshi and 100 satoshi (I did end up selling it for "only" a few x)
I believe the big run of digibyte allowed for coins with huge circulating supplies to be seen in a better light. Shoutout ripple(XRP) and NEM(XEM) for also showing this. I'm not here to promote all these huge circulating supply coins, but only to interpret the market sentiment of these coins. Back to Espers.... The most promising feature for me is sites on the blockchain. Imagine being able to navigate websites like the one you're on right now in a decentralized fashion. No web hosts, no censorship, and more control given to the user. Isn't that what crypto is all about? I think that websites on the blockchain is the game changing feature for this coin. A coin that is doing this for stictly ecommerce is Particl(PART). Their current mcap is 53mm / Digibyte current mcap: 161mm / Verge current mcap: 45mm / Espers current mcap : 5 million
Another feature that will most likely impact the price due to the news is the release of masternodes. The current amount of espers needed for a masternode is 25 million, but a fixed amount is not yet determined. It may end up becoming 15-25 million is what I have been hearing. Where have I been hearing this you might ask? Well that's my next point...
Community
Ah I remember it like it was yesterday, reading the digibyte telegram chat. It was small, but there were always a few enthusiastic individuals there that had believed in the coin. Every time I'd check it was usually always the same people talking about digibyte and what it could offer. (shouts to Mozzy) What this did is that it motivated other people to talk, and I believe that this plays a big factor to pushing a coin over the hump. Any coin is worthless until the market deems it to be worth of said value. People would spread FUD ( fear, uncertainty and doubt) in that telegram chat all the time. Side note: I think FUD could be a perfect buying opportunity as long as you make sure the claims are false. We all know what digibyte did... it went from 50 satoshi to 2500 satoshi in what was like a blink of an eye. Of course it fell heavily, because of it's fake news pump... but that's not when you want to be buying these coins anyway. You do not want to buy these coins when everyone is screaming for $1 DGB or $1 XVG or $1 ESP. You want to slowly buy these coins when no one is talking about it and the information is scarce. Of course you take a risk on these coins like anything else, but what is the next best option? Ethereum? NEO? (Getting pumped, would not buy at this moment) Nothing beats buying coins that have a lot of room to run in my opinion...
Oh did I mention the devs actually talk to you? They do a Q & A every wednesday... I was impressed by the transparency and communication. Developers that communicate will help to strengthen and grow the community. I think everyone can agree.
The espers community feels similar to what digibyte felt like back them, you can see for yourself
https://discord.gg/hhYP8yT
Price (TARGET)
A few things to considered: I do think that a short term target for espers is 40 sats or where it's previous all time high was at. Next in my book would be around 100 sats, I do think this is possible without a bittrex addition(Espers is only currently traded on NovaExchange and CoinExchange. DO NOT BUY ON YOBIT! It is the old chain!) There is a lot of great news coming that I think will make the price move in the upward direction. Whitepaper, masternodes, mobile wallets, websites on the blockchain, an upgrade/fix to proof of stake, encrypted messaging, etc. These things alone should in my opinion push the price above 100 satoshi. Add in the bittrex exchange to this equation and it could really pop similar to what XVG did which was over 200 satoshi.
This screenshot should prove that I was at least aware of digibyte early on. At the time 1 million DGB was under just $2,000. Today that would be over $18,000. Selling at DGB all time high would be over $51,000.
