The time of Musicoin's irrelevance may be coming to an end.
Musicoin's original plan of targeting the Spotify market with a "1 Coin = 1 Listen" did not exactly pan out. I wasn't around to participate, but I suspect getting users to pay for what they are used to getting either on subscription or free, via a new payment format, did not encourage platform adoption.
A long-term chart shows the down-trend turning sideways near an area of long-term support.
As a result, the Musicoin community (a non-profit project) has decided to implement a large change to the Musicoin algorithm, bringing about what they are calling the UBI fork (universal basic income) around September 1st.
Notice the increasing Twitter PR, as well.
One cited reason for the swap is that the old pay-per-stream model on a fixed 1-coin cost was too inflexible and couldn't adjust to price fluctuations. I personally speculate that it probably also suffered from inability to coax users to buy-in to pay (ie. it could not overcome opportunity cost), but I never used it.
With the fork to Universal Basic Income, all musicians will be paid per stream out of a daily mining of Musicoin. When Musicoin blocks are mined, some portion of the reward will go into a reward pool, not unlike Steemit. It is from this reward pool that musicians will be paid each day, removing the opportunity cost from listeners.
In another possible indicator that there is time to get ahead of the Musicoin trade, the Musicoin website is not yet updated for the UBI fork. This is a good chance to potentially get ahead of the curve (assuming, of course, that the Musicoin project is not poorly run/slowly updated, which I cannot say).
Furthermore, according to BitcoinTalk.org, Musicoin was a mere 27 signatures away from listing at Poloniex last night:
Now, we literally need one more:
As we all probably know, a new exchange listing usually leads to at least a short-term pump.
Especially when you are only traded at basically one.
Twitter press
Long-term risk level: High. The high risk is mitigated by low price and market cap relative to press and upcoming project buzz.
Short-term risk level: High. The high risk is mitigated by low price and market cap relative to press and upcoming project buzz.
Suggestion: I briefly saw this coin several months ago when it topped the "most profitable to mine" coin list for a hot second. It's still alive. Consider it more of a gamble than an investment, but I'd say it's much better than going to Vegas and putting it on black. Buy the rumor, sell the news. Musicoin definitely has rumor.
Note: The above does not constitute investment advice, and I am not an investment adviser. Do your own due diligence. My returns may not be worth mimicking, so choose to follow my entry points at your own risk. I do not advise trading, but holding coins you believe in off-exchange, preferably on a Ledger Nano S (or better).