Hello good people,
today I wanna discuss with you a major topic about crytocurrency trading. How to evaluate if a coin is worth your hard earned money. In the following I will NOT talk about short term trading. Short term trading is driven by speculation rather than project value. What I want to talk about is the project value. And one major method to evaluate the codebase.
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Most project that we see that launch an ICO or are already on the exchanges are software projects. As any software developer knows, the code can tell you a lot about a project. Therefore one major thing you HAVE TO DO before you invest into the long-term value of a coin is to take a look into the source code of the Project. I did this for a few project an I will present you my results in the following. I will evaluate them in a scale from 0 to 5 with 0 = no value; 5 = high value.
1. ChainCoin ( CHC)
Long term value : 0
ChainCoin is the latest and greatest HYPE recently. Not because of the project value but a community around some Youtubers that decided to short the supply by holding the coin all together. It worked and perhaps it still does. But the value of the exchanges has nothing to do with the project and long term value. On the github page there is basically no developement since 2013!!!!!! doen't mean that you cant make money in the short term with the coin, but it is sure that there is no long term value.
2. CannabisCoin (CANN)
Long term value: 0
This coin is not as dramatic as CHC but still not worth a look. This is a HYPE coin, programmed by a single person. Basically no source code commits in the last months. No real long term value in my opinion.
3. SafeExchangeCoin (SEC)
Long term value: 0
Nice sounding idea but the project in no longer developed. More precisely since 9 months.
Same as above. Stay away for the long term.
4. Syndicate (SYNX)
Long term value: 0
Sadly the same thing as CHC. A dead coin with no development since 10 months. That is sad. No long term value here as well. But again. A community of people shorted the supply and the value skyrocket.
I did this evalaution by using github.com and looking at the commits. Plz don't let the people fool u. In some cases .
The devs (like CHC) try to hide the non existing commits.
Plz open the commits and take a look into them. Even if you only have a small knowledge about programming you will see that they didn't commit real code. Just dummy text!!!
I would have loved to present to you some real software projects with a nice development. But the first 4 I looked into (mainly because of the YouTube HYPE) are failures.
