I DREAMT ABOUT SOME COIN: SHITTY OR NOT?
When I decided to improve my knowledge on cryptocurrency, I knew I had my work cut out for me. I have gone great lengths in understanding how to do my own research but I seem to get lost in several technical terminologies thrown about by the dev team.
I have never been one for science or anything that has to do with algorithms, which may be why this seems really hard. However, trying to gather my thoughts in regards to what I think of my experience so far was harder.
I had a dream which I think may have been a response of my brain to the many Crypto activities I've been involved with lately over the weekend from articles to videos. These coins came to my dream as FTC and Binky (which I later found to be BLinky).
My first response was to ask @readthisplease if he'd come across any of this coins because I remember reading his article talking about the coins he was Hodling. One of them was FTT and I had a thought that "if this coin truly exist, it may relate with that one". He said he didn't know but encouraged me to research on it. Well, here we go...
Before this, he had taken the time to teach me ways I could detect a shitcoin and these includes scanning.
We used Shiba Inu as an example, copying the address from coinmarketcap and using the Etherscan. By his brief explanations, I understood that the crypto market works like any other with the demand/supply rule. What I understood, Shitcoins basically have individuals hodling said coins in large quantities. These individuals are mostly the developers or founders which spells disaster if they decide to dump for liquid. That's what the rugpull means. So, I guess that advise of focusing on top 100/200 of listed coins is for me. Back to FTC and BLinky...
I went ahead to google FTC and it came out listed on Coinmarketcap as Feathercoin(FTC); a coin that uses the Neoscrypt algorithm and the PoW(Proof of Work) system just like Bitcoin.
The founder, Peter Bushnell described it as a "lighter than light" and a more improved and customized version of Bitcoin. This coin is listed on Bittrex and Dovewallet.
Trust me when I say I am really trying to understand PoS and PoW because it seems really crucial to my understanding of these things. From the little I could assimilate, PoW is based on solving puzzles or examining blocks on a Blockchain. So Bitcoin is based on mining which is facilitated by computers with written programs, codes and algorithms complex enough to carry out the commands.
Wow! What a way to spice up mathematical/technical nonsense gibberish.
BLinky on the other hand is powered by the Binance Smart Chain.
Now, If I go with what has been written by the devs, is it wise to buy? They are listed as Future coins. What does that mean? Here are pictures of their volume, circulation and marketcap.
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I have no idea why I'd dream about coins. Maybe it's my subconscious replying to the thoughts of my conscious.
I do want to hodl a coin (apart from Hive) this year. Honestly, I already have a list of "must haves". Now, Why the HECK is Binance so annoying? It keeps rejecting my verification. I went lengths to get that colored ID y'all. Not just that. It also rejects my facial verification. Unbelievable!
Kucoin is way more complicated to understand for a newbie like me. Do you think I can just send money to someone to buy and hodl for me till I verify my account? I want to really take advantage of this dip.
Wait... Correct me if I'm wrong but when I checked the pricelist on Coinmarketcap last night, I saw a fair amount of greens. Is the market bouncing back?
THANKS FOR READING, SAYONARA!
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