i would just like to hear any opinions people have on starcoin.im warming to the starcoin project and the coin itself but it seems like i maybe missing something.as a minable coin the low power consumption involved always seems to keep the coin profitable im wondering if im missing something obvious because i think this could be a solid investment for mining.
Mixed feelings. So first off :
https://starcoin.org/
Here’s more info from other Vosk members. https://voskcointalk.com/t/starcoin-stc-mining/29132
I’m a negative nelly, so even If I sound “glass half empty” , it’s just how I roll.
So the concept of the Company is … whatever, not Earth changing but not lame.
Although I’m not exactly for “hackers” in a proper crypto market place for fear many of these hacking groups/companies aim to be some kind of police or authority over crypto. (The only crypto laws are Satoshi’s Vision, IMO)
The tokenomics is a bit confusing, IMO they are using a new’ish concept many PoW Coins are taking in order to open up staking options since Coins (real value) can’t be manipulated like tokens (fake value). They just jumped the boat and named their Token a Coin… most people won’t even notice.
A major plus is that Goldshell makes their miner. Can’t get much better than than in 2021-2022.
From a traders view, it’s not a loser. Has high volatility and fluctuates approximately with BTC (this is good and bad). Good because the entire crypto-sphere revolves around BTC value, kind of (kind of like an anti-rug pull signal). Bad because it might be a sign that the smart contracts associated with their tokens might be backed by stable tokens which in turn are backed by BTC so instead of fluctuating to BTC the are actually fluctuating to the value of backing in the smart contracts. We can assume they are on a main network because they will need to access v2 and V3 technologies to make the best of their staking options, along with their stated objective of “combining ETH and BTC algorithm technologies”. (the way they word that rubs me wrong, they should say ERC20/ethash combined with SHA-256. I assume they do this to relate to the common person but using misguided terms is not relating, it’s tricking). No network contracts are publicly listed. (judging by address format, they are on the ERC20-1125 chain for cross chain transactions [v2] which would be needed to access USDC and wUSDT backing)
So you can tell, my opinion quickly goes off the edge. Over all they seem solid.
When you look at coinmarketcap take notice of the circulating supply Vs total supply, that reeks of token shenanigans.
From a miners stand point, I see 2 views.
- Business: It appears they may be a viable and profitable token to mine.
- Fundamental: Mining tokens… Nothing more need to be said there. So your 10K miner will stand in virtual line to receive its share for standing in line. Not even sure why they call themselves PoW.
So the big flags I see are a Token that calls themselves a Coin.
And the PoW, seems like Bullshh. They should be PoS like most other tokens but they want a way to milk miners into investing time and money into their Token giving it real value as if it was a Coin. Nothing is “fairly mined” with Tokens, networks and Pre-Mined.
So yeah, there’s my opinion. Sorry if I suck and look at weird angles.
1 Like
Starcoin is a blockchain project designed for distributed finance. Its aim to provide a secure digital assets and decentralized financial operation platform.
wow.thanks Kadiyania.youve made some great points which i will follow closely in the future.your defining it as a token instead of a coin and the consequences of such is intriguing. my main interest originally was from a mining stand point.at the moment its profitability seems to be coming from its low power consumption and if it were to sneak up to 15 or 16 cents US then i thought it may be reasonable prospect.but i also believe a coins longevity comes from having a functional utility.and the fact that its been around approx 6 months and seems to be maintaining the 10c level keeps me watching it closely. it does have piddly volumes and market cap
again bro thanks for the vast knowledge sharing its much appreciated.
cheers
1 Like