They can't all be winners.
Global Currency Reserve, or GCR, is actually one of the oldest cryptocurrencies around, other than Bitcoin. It rides in the venerable crew of 2015 coins, having launched right around August, 2015 and reaching a high near .0032000 Satoshis.
This is over 100x the current price.
GCR was hit with a multiple-whammy recently. I'm not even sure of the exact order of operations, but the capstone was a deslisting from Bittrex, leaving it with almost no exchange support.
GCR was due to be involved with a potentially-promising project called Coinixion, which is due to launch soon. The idea with Coinixion was to allow holders of cryptocurrency to buy and sell real goods and directly transfer value - sort of like a crypto-Ebay. This would have given GCR a real-world use case, but alas, despite supposedly launching in the next few weeks, Coinixion is likely not enough to save this faltering coin from the last few stages of its death spiral.
Some time before the delisting-of-doom from Bittrex, GCR's Github went down, leaving only a broken link. That's about as big of a red flag as you are likely to see in cryptocurrency. Developers of the coin do not appear to be responsive on either Reddit or BitcoinTalk.org, leaving an increasingly high probability that GCR has just been downgraded to "dead coin status."
As much as I'd like to find a reason to dip-buy that chart above, given the likely comeback of alts in the relatively near future, I simply can't get over the mountain of reasons not to (or past the multiple other projects more deserving.) Better to sink that money into Steem under $2, or Ark under $3, or any one of a number of other promising coins which, if they see a rally, will have some degree of fundamental justification for it.
I recommend steering clear of this one, or at least, adding it to your shopping list right underneath "the Brooklyn Bridge."
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Disclaimer: This is not financial advice and I am not a financial advisor.
Sources: Google, CoinMarketCap, Reddit, BitcoinTalk.org
Copyright: GCR, CMC, Github
This post has received a 16.67 % upvote from @sharkbank thanks to: @sammosk.
we have to identify winners cautiously
I had heard of them long ago but never bit. I'm glad you pointed this out and I like your commentary regarding things like this. I mainly stick with steem but have considered some other while the price is low. I'll skip this one for sure!!!!
I'm glad you found it useful! I bought a very few at 1500 sat, so I can confirm personally it is best avoided.
I think I might be doing this wrong, though. Maybe I'm supposed to convince you to buy the crap I need to get rid of? /sarc
I like your thought out comments on this subject which I am still learning a lot about, and that being said, I am looking for people to vote on as witnesses, I will read more of your blog posts and if I feel that you will represent Steem cryptocurrencies well and have sound input of the subject (since I don't know much about it I will use my best judgement) I will definitely vote you in as 1 of my witnesses. (so far I only have 2).
I appreciate your vote of confidence, but I don't actually run a witness. I have written a great many witness reports though, so if you need some excellent witnesses to vote, check out who I vote for on steemd.com/@lexiconical
Thank for the great intell, as always! Posts like this is why I follow @lexiconical. Always good to know these things, thanks!
Thank you for the gracious compliment.
Awesome post. Very informative at the current market.
If you could upvote my d.tube video:
I'll upvote your posts as well and subscribe! Let's grow this together!
Crypto-Intel
Hola como estas? muy buena publicacion, cariños y besos.
I guess I going to stick to Top 20 coins excluding XRP( over hype and too many coins to count)....
Good call. Ripple is pretty crappy.
Your post is the best...😊😊😊
Vote me please brother.
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Thank you for useful information. Always interesting to read about new approaches and investing ideas!
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