Cryptochannel - Investment and Diversification #2 - OKCash
I was going to write about this last night when I made the trade, but after the 2 previous posts and failing to fall asleep before them it hit me really hard and I had to rest before I could make this post. I knew this was also going to be a longer one introducing what I've read about this currency so I hope you forgive me that I made this post today first.
OKCash seems to have been another sleeping giant. It was released on the 24th November 2014 and went full PoS on December 9th 2014. The short mining phase could've been a big indication that many didn't take it serious and maybe found it to have a bit of an unfair distribution. What we have learned from cryptos though is that the market doesn't care and sooner or later the stake does get distributed through the markets and starts pumping when people least expect it.
Yesterday seemed like it was OK's turn to move up the ladders.
Proof of Transaction
Yesterday I sent 80 SD from last weeks post and 24.5 Steem from the Power Down to Bittrex to buy my share of OKCash.
I sold the SD and Steem for BTC and bought 781.62 OKCash at a price of 6550 sat (0.00006550 BTC)
Today it is already at 0.00007700 and topped last night at 0.00008500 which could be an indicator that it is not done going up.
OKCash seems very promising, looking at their Twitter activity (which most currencies lack) it has over 200,000 Followers and over 60,000 followers on Facebook. It will mainly focus on the online gaming communities but not limited to. The name OK is used because its one of the few words that is understandable by anyone in the world and has a good potential for mainstream adoption, even more so now with the recent boom of altcoins.
Here is one of their videos describing the currency in short:
OKCash has constantly been in development and had a good connection with their community (a lot like Steem) and after reading more on this currency and its history which all can be found online I was sold that this was an undervalued coin at this time with only 72 Million available supply and a max supply of 105 Million with an ever decreasing printing.
Charts
Its full chart looks like this right now:
Its 3 month chart since the altcoin boom started happening:
Its currently in spot # 88 on coinmarketcap and has seen a big soar recently, probably due to the news that lead me to hear about it as well, so invest with due diligence that it can dip again for some time before it hypothetically rises again. Invest accordingly.
If you want to read more about this currency here are some useful links!
Announcement Thread - Bitcointalk.org
OKCash.co Website
OKCashtalk.org Message Board
Disclaimer - Like always don't invest more than you can afford to lose. In this market anything can happen so be prepared for it.
Thanks for all of this important info @cryptochannel
This comment has received a 0.06 % upvote from @booster thanks to: @hamzaoui.
This is actually really interesting. My boyfriend never stops talking about this stuff so thank you for sharing and making it easy for me to understand 😂
Hey @cryptochannel... You have got a finely articulated post here. Just needed to know at to why do you see a huge potential in OKCash? I am sure you must have done your own research and this post was an outcome of that. If I may ask, would you please share with us the factors that you feel are going to be the reason for OKCash to become huge!?
This answer can help a lot of us who would like to invest in crypocurrency but do other know where to start and how to go about researching for it.
Thanks in advance!! Peace ✌️✌️
Hi, Ive been looking into this coin recently too and IMO OKcash is strongest when it comes to transaction time a low fees. It has strong community (200k Twitter followers,60k Facebook). On top of that it has PoS consensus and earns you 10% interest yearly ( it halves every year after that). Their focus is making OK truly fair and decentralized - a developer, whale or a holder of a single coin have same voting rights. Plus they have IoT integration, which I dont find personally so interesting as I dont really care about IoT, but their devs are cool, they created ROKOS OS for IoT devices that can turn them into bitcoin full nodes, which says something about them. Pretty darn cool for coin with such small marketcap. I think it's a good investment, but of course do your own research, nb can give you investment advice:p.
Here are some links regarding OK:
https://bitcointalk.org/index.php?topic=1028368.new
https://revex.co/okcash/
https://cointelegraph.com/press-releases/okcash-the-sleeping-iot-gaming-giant
https://okcash.org/okcash-for-individuals.html
Nice article! OKCash is a solid coin! I am hanging around in their discord channel here and there and also had a nice talk with the developers. Great longterm potential in my opinion, and POS rewards are great :)
As you seem to have trust in even smaller altcoins, do you have trust that altcoin boom will last?
I could write a rant either about how unlikely it is for a small altcoin to get really popular, but I know.. risks are small if you invest only a little money on them and even BitCoin (which is now high valued and pain to use) started very small, but is popular at the moment.
I can see why so many people see crypto as a good hobby.
Yeah, thats something hard to predict, but then again bitcoin is an old tech and has lots of issues. OK and other similar concepts seem much more likely to be widely used (if they survive) as they are more efficient, faster and have lower transaction fees. I mean whats the point of buying coffe with btc if you have to wait for a 30+mins to get verification and the fee is likely higher then the price of your coffee... We'll see how things turn out. I guess only time will tell.
What got you to buy OKcash yesterday ? What triggered you, the sudden increase ?
The way I see it , I would be hesitant to invest in sleeping coins.
Why? I mean, it doesn't seem to be sleeping anymore, plus look at LTC, if you have bought that when it was sleeping, I'm sure you wouldn't be upset. I think it's looking well, of course only time will tell, but the recent growth looks good, steady upward trend now, what's not to like. I'll buy some probably, it's still pretty cheap.
(P.S. I'd be really happy if you checked out my articles, I've written a very long post I think it's good quality, but don't have many followers or know how to get it to be seen. Or some tips I'd appreciate, thx)
Yeah, OK going all LTC would be nice :D Though actually Liberland is considering listing both LTC and OK, so who knows. Honestly I am more worried about BTC going downhill and taking the rest of it with it than OK or whatever else failing on its own. Pray we are all alive and well after the 1 Aug.
Resteemed this is pure gold, thanks for sharing
nice
Brilliant effort, keep it, voted!
OkCash is a promising coin but it's value going up has nothing to do with it's fundamentals. Market has a tendency to rise up a coin on daily basis without any genuine reason. Yesterday, it was Stealth coin, the day before yesterday it was FairCoin and so on. Okcash is a mediocre coin and have little real life use if you can consider it.
This is not a coin to hold on for a longer term. But for a short term, yeah it is undoubtedly looks promising and I appreciate your efforts to convert you SBD into OKCash.
Thanks for sharing by the way @cryptochannel