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cryptostiltskin (OP)
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July 02, 2017, 10:55:47 PM |
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Wow. I'm 50/50 on this coin. Current research says to go in a bit and wait and see.
Very Good: - No Pre-mine.
- No ICO.
- Low rewards means it can build supply slowly.
- A lot of hero/legendary members observed this coin with interest, this is great because we're talking about the usual whales and people with push/pull in the market that could put this coin into the forefront, on top of this some other devs are surely interesting in making this coin better (relationship with CryptoDatabase). With this in mind, we're definitely seeing a sleeper coin in action, it may take a while but I would imagine a high market cap in the far/near-far future.
Very Bad: - No actual addressing of the instamine. OCMiner (Suprnova) is a very respectable person, so when they questioned this I also questioned this. It seems this issue has been forgotten.
- Lots of issues with the POS. The biggest issue I see at this point is the rich get richer and the poor will never get those POS blocks.
- POW hash-rate seems to go up and down, almost in relationship to what is the expected POS rewards. This may change later when it becomes full POS, but there is no stable (growing) POW support right now.
- Coinmarketcap.com lists less than 1/2 coin supply than block explorer does.
50/50 and Suggestions: - The dev is very active and has made fixes off-the-cuff, but that support has slowed down lately. That could very well mean the coin is still in the early development stages, so have patience. I highly suggest working with a team, get someone else to update the OP with the latest info, add master nodes to the configuration, seems strange there is none yet and considering I had to add them myself was an extra step I did not like. Also with a team you can figure out some real promotional outlets.
- The dev's account shows interest in buying/selling and developing in other coins currently, not so bad, but please keep this coin informed with progress as well (e.g. "working on the newest version, %30 done, etc).
- Currently under the radar, this is either the community views it as not that great or we're just in the very early stages.
- No buy support and volume. However, this could reflect the bagholders wanting to stake. In addition to this, even the sell list is not that big, people are buying up and not selling, this implies people are in for the long-run.
- Not that I don't care about bees, I do and fully understand the importance they play in our ecosystem. However, a cryptocurrency that focuses on supporting beekeepers is a very niche interest. For example, if the community instead focused on reducing pollution, that may be a farther indirect impact on the bee population than directly supporting beekeepers. A sudden change in direction towards something called the Valerien Universe is even more confusing. I absolutely believe crypto can be used for good things, as well as for trading, but pick one, many, or a single meaningful thing to support would be more tasteful.
Sorry for the long post, there was a lot to research here and I haven't been involved from the beginning. Overall, there is really good reason to believe this alternate cryptocurrency is a sleeping giant. Thank you for your feedback. I appreciate such a valid review of Honey, and as such I will force time to address some of the issues you have mentioned and we all have seen. - "Addressing of the instamine." There was no instamine. I was at The Crypto Chat chatting about releasing a coin soon. Once I finished the original announcement at BitcoinGarden, I announced it at The Crypto Chat. I myself started my wallet at the exact same time as everyone else. I got to mine a few hundred Honey on my laptop if I remember correctly before miners jumped on the chain. Then shortly after I received no stakes(much like others). I was surprised myself as to how fast miners made the difficulty raise through the roof. The whole "instamine" accusation was solely based on the fact that I released the announcement on BitcoinGarden instead of Bitcointalk first. I released on BitcoinGarden because I don't like Bitcointalk. Simple. A lot of people requested a Bitcointalk thread so I made one. That is when things got crazy. Now I rather use Cryptoinfo.net than either of the 2 previous forums. I have always preferred to use primarily The Crypto Chat as the medium of communication.
- Lots of issues with the POS. I am hoping the upgrade to PoS 3.0 will fix all of those issues. If not I will continue to work on a fix.
- "POW hash-rate seems to go up and down, almost in relationship to what is the expected POS rewards." If this is not from a high hashrate miner coming online and offline, then I'll gladly take any other suggestions as to why this is so.
- "Coinmarketcap.com lists less than 1/2 coin supply than block explorer does." I think CoinMarketCap is behind on the new Block Explorer ip. They require manual submission of every change for each coin.... It's on my list to update them.
- "I highly suggest working with a team." I have a small team of supporters who help when, how, and as they can including CryptoCoderz, Bumbacoin, CryptoDatabase, KaptKrunch, Jewelettes, Juzz222, Griffith, The Crypto Chat, SpacePirate plus any I'm forgetting who provide me with any kind of support. I would love to have a team to help out on a regular basis. I'd even like to see pull requests in the GitHub repo. However, until the community starts chipping in where they can, I am left to my own ambitions, time limits, and funds(which are the 3 areas in which the previously mentioned have helped out).
- "The dev's account shows interest in buying/selling and developing in other coins currently, not so bad, but please keep this coin informed with progress as well (e.g. "working on the newest version, %30 done, etc)." I made my money with trading other currencies before I ever thought of Honey. That's how I pay my bills when I'm not doing labor jobs such as the laminate floor job I start on tomorrow. I was invited to be a part of HubCoin development, but have recently told them I can not contribute. I prefer to continue work on Honey. I do actually have some takeovers in the works for coins I do not want to see die. I can't promise anything for those coins other than to save the blockchain and host nodes and block explorers. As far as a percent to say for Honey completion.... I am unsure about that.. You might be able to say 30% but my time gets limited by labor jobs a lot lately. I don't do much after a labor job other than eat and rest. I will try to dedicate some hours to Honey development after work this week to advance things faster.
- "Currently under the radar, this is either the community views it as not that great or we're just in the very early stages." Yes, very early stages.
- "No buy support and volume. However, this could reflect the bagholders wanting to stake. In addition to this, even the sell list is not that big, people are buying up and not selling, this implies people are in for the long-run." I only personally know a few miners with higher hashrate who mine Honey. They are definitely holders for the most part. Most buyers of Honey were back when it was over $1 per HONEY, and the ones of those I know personally are holding. Even thought many of them still tell me they have never received a stake. The supporters I know are waiting for the value to rise again. I can't speak for the trade groups or people I don't know.
- "However, a cryptocurrency that focuses on supporting beekeepers is a very niche interest." I agree, the only reason I changed it from "A Token of Appreciation" was community request and even a popular podcast mentioned it was something they could get behind. However, once I changed it to a beekeeper coin all those statements proved to be false. I am changing it back to a more general crypto with a real purpose of being used for anything it will be accepted for. We have a saying in our Honey community... "HONEY is Money"
so let it be so. Put the "HONEY on the table"
I hope this addresses everyone's issues and questions as well. Trust that I am dedicated to Honey even though I may start or take over other projects. I love this crypto thing and Honey is my baby. Also trust that even without a team I do have great support from developers, miners, moderators, forum owners, chat groups, and multiple people who know what they do well. |
