I was going to write about this last night when I made the trade, but after the 2 previous posts and failing to fall asleep before them it hit me really hard and I had to rest before I could make this post. I knew this was also going to be a longer one introducing what I've read about this currency so I hope you forgive me that I made this post today first.
OKCash seems to have been another sleeping giant. It was released on the 24th November 2014 and went full PoS on December 9th 2014. The short mining phase could've been a big indication that many didn't take it serious and maybe found it to have a bit of an unfair distribution. What we have learned from cryptos though is that the market doesn't care and sooner or later the stake does get distributed through the markets and starts pumping when people least expect it.
Yesterday seemed like it was OK's turn to move up the ladders.
Proof of Transaction
Yesterday I sent 80 SD from last weeks post and 24.5 Steem from the Power Down to Bittrex to buy my share of OKCash.
I sold the SD and Steem for BTC and bought 781.62 OKCash at a price of 6550 sat (0.00006550 BTC)
Today it is already at 0.00007700 and topped last night at 0.00008500 which could be an indicator that it is not done going up.
OKCash seems very promising, looking at their Twitter activity (which most currencies lack) it has over 200,000 Followers and over 60,000 followers on Facebook. It will mainly focus on the online gaming communities but not limited to. The name OK is used because its one of the few words that is understandable by anyone in the world and has a good potential for mainstream adoption, even more so now with the recent boom of altcoins.
Here is one of their videos describing the currency in short:
OKCash has constantly been in development and had a good connection with their community (a lot like Steem) and after reading more on this currency and its history which all can be found online I was sold that this was an undervalued coin at this time with only 72 Million available supply and a max supply of 105 Million with an ever decreasing printing.
Charts
Its full chart looks like this right now:
Its 3 month chart since the altcoin boom started happening:
Its currently in spot # 88 on coinmarketcap and has seen a big soar recently, probably due to the news that lead me to hear about it as well, so invest with due diligence that it can dip again for some time before it hypothetically rises again. Invest accordingly.
If you want to read more about this currency here are some useful links!
Announcement Thread - Bitcointalk.org
OKCash.co Website
OKCashtalk.org Message Board
Disclaimer - Like always don't invest more than you can afford to lose. In this market anything can happen so be prepared for it.
Thanks for all of this important info @cryptochannel
This comment has received a 0.06 % upvote from @booster thanks to: @hamzaoui.
This is actually really interesting. My boyfriend never stops talking about this stuff so thank you for sharing and making it easy for me to understand 😂
Hey @cryptochannel... You have got a finely articulated post here. Just needed to know at to why do you see a huge potential in OKCash? I am sure you must have done your own research and this post was an outcome of that. If I may ask, would you please share with us the factors that you feel are going to be the reason for OKCash to become huge!?
This answer can help a lot of us who would like to invest in crypocurrency but do other know where to start and how to go about researching for it.
Thanks in advance!! Peace ✌️✌️
Hi, Ive been looking into this coin recently too and IMO OKcash is strongest when it comes to transaction time a low fees. It has strong community (200k Twitter followers,60k Facebook). On top of that it has PoS consensus and earns you 10% interest yearly ( it halves every year after that). Their focus is making OK truly fair and decentralized - a developer, whale or a holder of a single coin have same voting rights. Plus they have IoT integration, which I dont find personally so interesting as I dont really care about IoT, but their devs are cool, they created ROKOS OS for IoT devices that can turn them into bitcoin full nodes, which says something about them. Pretty darn cool for coin with such small marketcap. I think it's a good investment, but of course do your own research, nb can give you investment advice:p.
Here are some links regarding OK:
https://bitcointalk.org/index.php?topic=1028368.new
https://revex.co/okcash/
https://cointelegraph.com/press-releases/okcash-the-sleeping-iot-gaming-giant
https://okcash.org/okcash-for-individuals.html
Nice article! OKCash is a solid coin! I am hanging around in their discord channel here and there and also had a nice talk with the developers. Great longterm potential in my opinion, and POS rewards are great :)
As you seem to have trust in even smaller altcoins, do you have trust that altcoin boom will last?
I could write a rant either about how unlikely it is for a small altcoin to get really popular, but I know.. risks are small if you invest only a little money on them and even BitCoin (which is now high valued and pain to use) started very small, but is popular at the moment.
I can see why so many people see crypto as a good hobby.
Yeah, thats something hard to predict, but then again bitcoin is an old tech and has lots of issues. OK and other similar concepts seem much more likely to be widely used (if they survive) as they are more efficient, faster and have lower transaction fees. I mean whats the point of buying coffe with btc if you have to wait for a 30+mins to get verification and the fee is likely higher then the price of your coffee... We'll see how things turn out. I guess only time will tell.
What got you to buy OKcash yesterday ? What triggered you, the sudden increase ?
The way I see it , I would be hesitant to invest in sleeping coins.
Why? I mean, it doesn't seem to be sleeping anymore, plus look at LTC, if you have bought that when it was sleeping, I'm sure you wouldn't be upset. I think it's looking well, of course only time will tell, but the recent growth looks good, steady upward trend now, what's not to like. I'll buy some probably, it's still pretty cheap.
(P.S. I'd be really happy if you checked out my articles, I've written a very long post I think it's good quality, but don't have many followers or know how to get it to be seen. Or some tips I'd appreciate, thx)
Yeah, OK going all LTC would be nice :D Though actually Liberland is considering listing both LTC and OK, so who knows. Honestly I am more worried about BTC going downhill and taking the rest of it with it than OK or whatever else failing on its own. Pray we are all alive and well after the 1 Aug.
Resteemed this is pure gold, thanks for sharing
nice
Brilliant effort, keep it, voted!
OkCash is a promising coin but it's value going up has nothing to do with it's fundamentals. Market has a tendency to rise up a coin on daily basis without any genuine reason. Yesterday, it was Stealth coin, the day before yesterday it was FairCoin and so on. Okcash is a mediocre coin and have little real life use if you can consider it.
This is not a coin to hold on for a longer term. But for a short term, yeah it is undoubtedly looks promising and I appreciate your efforts to convert you SBD into OKCash.
Thanks for sharing by the way @cryptochannel
Vau nice
Do you just see alt coins like this one as short term trades only, or assets to buy and hold? If it's long term, how do you sort out the ones you think will survive and grow beyond the clutter of the others?
I think its more of a long term thing, they have released some new casino lately and working on new updates like crazy, hired new developers and collaborators and expanding localization to 5 more countries. I think there is some potential there, but its gonna take a few months I guess. Either way, now its sort of cheap, so its maybe a good start point for entry. I think we might see it go 2-5x in a few months.
Ok thank you @silverlining123. I'm always curious on how you know which ones are "legit" with long term stability or growth.
What do you mean? It sounded like sarcasm. I can't know anything for sure, but I know the devs from some forums and chats and they have been talking about some things they are working on and it's looking good IMO. They even found some serious people being interested in it and from what I've heard are negotiating with Liberland to list OKcash as one of the main currencies.
Im sure it's legit but I never said it's something with long term stability or whatever. I'm just saying, that it is looking good, the devs are very active and based on their efforts, recent updates and large community+good tech it seems very unlikely for it not to go up and perform decently in the horizon of several months. IMO a few months is not long term, I honestly don't have any idea what will happen to crypto in 3 years or more (that is sort of long term to me), and OK is a crypto too, so ...I wonder, who can know anything for sure, we are all hoping/predicting/analyzing to the best of our wisdom and abilities, don't you agree?
That is true. The reason I joined Steemit is because I understood there was a stabilizing platform behind it to continue to hold value to the STEEM crypto. The currency has a purpose. Most new ones are just "coins" or token, I don't understand enough to trade, or which new ones have a stronger purpose than another to even do a shorter term buy/sell. That's why I always try to ask when different people post about buying/trading crypto. Just to try to understand how people sort it all out.
I appreciate you taking the time to give your opinion back. Thank you.
That is actually a good approach, I feel exactly like that - that is why I like and believe in Steemit because it has a tangible product I actually want to use and see purpose for it. And like you say, I can't say the same for most coins out there. And even though I spend a lot of time researching all those coins I am not very confident about too many of them or at least not when it comes to real life use or long term success. Some are good for speculation but very few I could say it's something I'd stand firmly behind. IMO you have to know a lot about the whole market, trading strategies and principles and preferably have some good intel to be successful at day trading. I think a better way to go about things for a newer traders is holding. Just research some coins through and through, find something you really believe in and can see being used, something you want to use or are already using (like Steemit e.g.) and just buy that and wait.
I don't know if OK is something like that, not yet perhaps, but it's growing so we will see, where it goes. Like I said, it has a very good tech, the transactions are very fast and cheap and the system is truly decentralized, which is paradoxically sort of rare it seems in this decentralized revolution. It's a currency coin not really a platform like Steemit, so you can't really compare the two, better to compare it with the same category of coins (btc, ltc, pivx, dash, etc. ) and see where is which better and consider the context and situation of those coins what they are trying to accomplish and how well are they doing the job. IMO OKcash is doing its job very well - that is being an easily usable and efficient way to transfer funds. If you are a privacy freak you might want to look at Monero, that one is master at that, but its not very user friendly so I think it's less likely to be adopted by masses. Really depends, what you are looking for.
I'm definitely with steemit for the long run. Thank you for your thoughts on all of this.
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Never even heard of ok cash. I'll look into it
Congratulations! Thanks for sharing
50 years ago diversifying would have been understandably more difficult. However, in our day and age, if you are not diversifying, you are just ignorant. You can have such a huge portfolio in crypto alone. That's not even talking about all the other non-crypto investments you could make :)
Nice post brother! I also posted my last post around the same time. Talk later :)
Hmm. Ive never even heard of OKcash. I like seeing your analysis of why you think it will be a good coin. Its the same basic thought process I go through when looking at a company. Often I don't have the time it seems to research. Thanks for info!
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