You read that right, HoboNickels!!! This is an actual currency. I found it while doing research on Jesus Coin last week and I thought I would right a little about it. According to their wiki, HoboNickels is a clone of the NovaCoin source code which was the first fork of PeerCoin. They describe it in a fashion of family trees, so Bitcoin is the Great Grandfather, PeerCoin is the Grandfather, NovaCoin is the Father and BitGem and BottleCaps are brother and sister to HoboNickels (HBN).
Now, HoboNickels has a pretty small market cap of about $850k. About half of the 120 million coins have been generated as this coin as transitioned from a P.O.W. to a P.O.S. coin. It offers currently a very generous staking algorithm which stakes every 2 weeks. They claim that their algorithm can offer up to 100% return per year, but it does control inflation and adjust stake amounts as more clients come on line. With it trading at about $0.013 per coin, it is an affordable staking coin to get involved in with. The problem will be availability. It is only available on one exchange, Cryptopia, and the 24h volume was about $50, so it might be hard to get your hands any significant amount of coin.
To be honest, I expected this coin to be a little bit of a joke, but it is not. It really focuses on giving back to charity. It allow the clients to donate some of their staking percentage to charity. There main charity is "Songs of Love" which creates supportive songs for thousands of sick children. They offer to list other charities to receive support from the HoboNickels network.
Off the bat with such a low trading volume it is proof that this coin does not have a lot of holders. Hence the coin acts more like a centralized versus many others. The more holders the better distribution of the coin and therefore higher use. The whole idea of crypto is to use a form of currency that can be exchanged for other goods/services. The more people that accept the crypto the more use it can have.
I am passing on HBN but thanks for doing the research. I would have likely wasted some of my time if I went and looked at it myself.
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