Hello Steemit.
Welcome to sub-article 002 of the top gainers and losers weekly series. This week we saw the largest correction in the market in a long time which has had a drastic effect on the outcome of the tokens or currencies selected in this weeks posts with very stable assets seeing huge losses and not many seeing many rises in price at all. I'm not here to promote sh*tcoins so coins like President Trump, a coin that was on both the top gainers and losers at several points this week didn't make it onto this list. There were a lot of losers this week, myself included, but which coins are looking for a bounce (spoiler it's most of them)? For last weeks article, in which I covered Experience Points, click here and of course follow to keep updated on this series and more on my blog. For my post of this weeks gainers, click here.
Top loser: Davor Coin [89.84%]
My pick: HUSH [67.74%]
An OG crypto-enthusiasts dream coin, private everything. Like most assets on the market right now, HUSH was just starting to reach the highs it was aiming for in early January sitting at an extreme price of ~$26.70. When you consider that the price today is ~$3.21 you have to ask yourself whether HUSH has had it's time or we are looking at an absolute steal right now. Although the picks for these articles come from their drops in price, what we really want to discuss is the utility of the project itself. As I previously stated HUSH is a privacy-centric lover of the decentralised idea that cryptocurrency represents dream. I fall in that category myself, it's not that I have anything to hide, I just want the option and should have the option. HUSH, a fork of Zcash offers this to those of you who are interested in this fundamental area of cryptocurrency. For those who are interested in the possibility of a price rise, well, just go back a few lines or look at this chart here.
There doesn't seem to have been any particular reason for HUSH to have declined as rapidly as it has, other than for the steady decline that these last few weeks have seen in tandem with each other, the main fear is whether we have truly reached the bottom. The latter section of the chart looks more stable so we may now be a point of correction having been completed. HUSH is by no means a short term hold or at least isn't if the planned roll-outs are not to arrive soon. HUSH's main reason for a slow progression rate are that the team attached to the project seem to be made up of people who believe heavily in the project but do not have the funding attached to larger projects that can maintain a constant uptrend of announcements and releases. The team they do have however are very, very committed to the project as are the community surrounding this project which has kept the project alive and well for the most part.
HUSH is currently without a clarified whitepaper on the actual token itself, mainly due to the fact that the currency itself works on the same basis as Zcash, but what they can offer is a whitepaper on their protocol extension HushList which offers shielded and transparent transactions via encryption proxying, leaving no trace of a transaction available for public documentation. Via the use of memo's attached to payment transactions HUSH intends to use this script as a means of creating a fully anonymous messaging system and this is where my attention is raised significantly. This is to be fully realised with the release of HushNG which has no current release schedule, but a screenshot of HushNG is available on their website.
They have certainly stepped up their game in terms of product image branding and UI friendliness and if all goes to plan with NG, I could see the messaging service being used on a very high level. A lot of people would be interested in being able to send information to one another with the reliance that the information is theirs and theirs alone, something seldom available currently to us unfortunately. This is the true utility of HUSH and if successful will be the reason for their success. Because it is still classed as a micro-transaction the coin itself has significant value as the asset responsible for sending these highly encrypted untraceable communications. As such, the price may not hit over $20 again (though it has been proved possible) but if it were to hit even $10 we would be looking at very tidy tripling of your investment today.
NG also looks to counter these transaction costs by offering an inbuilt miner within it's platform and as previously stated works with the same functionality as Zcash, a very popular coin in the mining community which works on the Equihash protocol and all of this will be stored on NG's built in wallet. If HushNG comes to fruition we are looking at a very solid all-in-one application for messaging alongside sending/recieving and mining cryptocurrency built by people who believe in the foundations of anonymous crytocurrency.
Hush currently sits on two exchanges with the outlook of pushing themselves onto others as time progresses and as we have seen these are the moments that we see inflation in value of projects, especially good ones that need a push like HUSH. It is available on Cryptopia which has hosted a few hidden gems now including ETN and MyWish which are both due big pushes once on larger exchanges as well as the coin mentioned in today's gainers post, which again can be found here, so I even recommend getting into HUSH via that platform or for those who want to engage with this project as intended you can position in via BarterDEX which runs on Komodo's blockchain (more on this in a future post) where it is both cheaper and of course decentralized.
This progress is aptly named as people aren't talking about it enough.
HJB. CryptoKnight.
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