Waking up to some pleasant surprises is always a good thing when you’re a Crypto enthusiast. Sometimes though, you just never know quite what to make of certain things. Take StartCoin for example, a coin that was launched and hit MCXNow instantly.
Allow me to start off this article by saying that I do believe StartCoin i the new Crypto backed by Max Keiser. He announced that a new coin with his “support” would be launched soon, and I have a gut feeling this is the one he was talking about.
The launch of StartCoin also has some interesting resemblances to the launch of MaxCoin. Hitting several exchanges at launch, including the illuster MCXNow exchange, without any pre-announcement. Not just any coin can pull that off I’m afraid.
So let’s take a look at what makes StartCoin interesting for miners and traders. It surely won’t be the fact this coin has been 50% pre-mined, that’s for sure. 90% of this pre-mine will be used for projects and given away to StartJOIN users. We will go into the details of StartJOIN in a minute, don’t worry.
Technical aspects of StartCoin are as follows : a total of 84 millions coins will be in existence, all of them generated during Proof-of-Work. using the Scrypt algorithm. At least I can use my Scrypt ASIC to mine some coins, so that’s good I guess.
Blocks reward miners with 40 START and rewards will halve every 12 months. Difficulty retargeting will be done via Kimoto’s Gravity Well. I’m not sure if this coin is vulnerable to Time Warp exploits, but I’m sure we’ll find out soon enough.
As I mentioned, StartCoin can be found on several exchanges : BleuTrade, MCXNow, BitTrex and KingCoiny. Considering the fact StartCoin is on MCXNow, I guess the next logical step would be getting added to Cryptsy.
Let’s talk a bit about this StartJOIN project. Most of us will be familiar with crowdfunding platforms, such as Patreon and Kickstarter. StartJOIN offers the same functionality, but for projects looking to get funded via Crypto.
Oddly enough, while there are several projects listed on the StartJOIN website, the site isn’t functional at this point. Users can create an account, but once you try to login, you get a 403 FORBIDDEN error. Interesting.
Apparently, an airdrop of START is coming to StartJOIN soon though. I’m not sure on how this would work, as you can’t even tell whether or not your account was created successfully. Not even an email from the service.
The idea of all this is to have StartCoin be the digital crowdfunding currency, which can be used on the StartJOIN platform. Seeing how StartCoin is pre-mined and ninja-added on exchanges, and StartJOIN’s website is working half-assed, I would honestly not invest in this coin.
Granted, I am mining this coin through IPOMiner, but that’s not the same as investing. Seeing as Scrypt mining has become pretty much redundant now, I might as well grab a few coins just in case, right? Just don’t throw any BTC at it, that’s all I’m saying.
If you feel like donating, send the coins to sRdL58qVjupbchtUe8EoffZchVC3xxCTNT