Coin Of The Day (28.05.2018)- Chronos, Not For Time But Bids (Confused. Read Post To Understand.)
Disclaimer: This is not a paid promotion. All information and data in this segment of ‘Coin Of The Day’ are based on my unbiased personal opinion and experience, it should not be considered professional financial advice. I will not be liable for any errors, omissions, or losses, injuries, or damages arising from this displayed content or use thereof. Take care when investing in these platforms and remember to do your due diligence. Consult a financial adviser before investing into any of these projects. Good luck.
Welcome to another post in the series, ‘Coin of The Day’ where cryptocurrencies are dope and John McAfee fails to accomplish.
So without any further ado, lets kick names and take asses.
As shown in the video above, the selected cryptocurrency to be scrutinized by us is Chronos.
Chronos, as you all should know is the Greek God of Time. He loves to carry around a sickle and like every other Grecian deities, he is a nudist. Before his son Zeus learnt how to utter a word, he straight up went Hannibal Lecter and turned the kid into a midnight snack. An uncool sinister fellow. Chronos, as you all should know is the Greek God of Time. He loves to carry around a sickle and like every other Grecian deities, he is a nudist. Before his son Zeus learnt how to utter a word, he straight up went Hannibal Lecter and turned the kid into a midnight snack. An uncool sinister fellow.
Okay. Let’s get into the post for real:
Chronos (CRX), not a timepiece by the same name, is a cryptocurrency used simply for bids on the PennyAuction.click website and was created with a airdrop fair launch to attract investors. It comes from the same class of coins as Peercoin and Novacoin. Also, investors were given a portion of the profits made on each bids via the blockchain.
Chronos created by one anonymous developer in the first half of 2016 (the year of scam coins’ birth). It was later added to CoinMarketCap on July 18, 2016. It was mineable at first using the Scrypt algorithm (similar to Peercoin, Dogecoin, Litecoin and Novacoin) but has changed over to staking after a few months in existence.
There are no promotional or introductory videos on this coin.
The feature section is quite short for today’s post because Chronos does not have much in the way of noteworthy information and it gleamed off alternative sources:
Windows, Linux and Mac wallets (some of them are still working). They also have paper wallets.
Bids cost 50 cents and US$1.
Some bids were earned through follows and likes on social media.
For the mining aspect of CRX, block reward was 2,000 coins and each block last a minute in duration.
Circulating supply, after mining, was approximately 68 million.
50 percent interest per year whether Proof-Of-Work or Proof-Of-Stake.
For staking, one had to wait at least two hours in order to start receiving interest.
The current circulating supply is 73,729,962 CRX.
Unknown total coin supply.
All Time High (ATH)- US$0.10966 (0.00000766 BTC) on January 11, 2018 caused by a possible pump-and-dump by one of those Telegram groups out there and also the feverish hysteria of the December bull run had not die down as yet. At the time of this post, 766 satoshis is worth six cents.
Now, on to the critique:
MY CRITIQUE:
WEBSITE AND SOURCE CODE:
As one goes to their website, this is what he or she will see:
It would not be surprising if you had the same expression as this pup:
What website? You may ask.
My answer: Not there. The developer is selling the website because he cannot afford it.
That, there, is a parked website and domain used for making money while the owner is selling the domain. I know this because I sold three domains the same way. But in my opinion, the owner is selling it for the high price of US$3,795 (if anyone is interested in buying it).
The logo, frankly, is a true representation of Tropical Storm Alberto. Keep safe, my Floridians.
All information on this cryptocurrency can be found nowhere else but the sock puppet spam infested, Bitcointalk.
No sign of a whitepaper or any goals as a matter of fact.
The road-map is just a shopping or chore list with (OMG!) the permanent cross-outs. The team should have used a red marker though. Unfortunately, they did not accomplish the last item on the list. Some salty investor who has denial problem got two of the worst exchanges (scroll down to exchange) to add it. Penny auction failed to become a huge undertaking on the blockchain because the developer is broke, there is no team and the bugs keep disrupting their network.
As for the source code, only three commits were ever done for the entirety of its existence by an unknown developer known as chronoscoin. The last commit was just a month ago and it was to restart this project. So overall, Chronos is still inactive when it comes to development.
SOCIAL AND POPULARITY:
Twitter- 702 followers. No activity on there for the past two years. Relatively low engagement from the followers during their hay days.
Facebook- No official account.
Reddit - None.
Bitcointalk- 82 pages. Nothing interesting there. Many are greedy. Rationality is thrown out the window.
For YouTube: No official channel.
Other channels- I have found only four videos on YouTube reviewing Chronos Coin including Sat Bits.
EXCHANGE:
Chronos Coin is still being traded on the following exchanges:
Cryptopia (soon to be delisted on here)
YoBit
Apparently, coins or tokens (definitely tokens) that end up on these exchanges become shitty or are shitty.
CONCLUSION:
In conclusion, Chronos is a P.O.W. / P.O.S. cryptocurrency that used the scrypt algorithm and was established for the sole purpose of being the main coin for the PennyAuction.click website. Right now, it has virtually no significant daily volume on both exchanges. There is no developer behind it that investors can trust with their money.
Is Chronos a good investment?
Absolutely not. Penny auction on the blockchain was a bad idea from the start. It is like betting on two casino games at the same time with all your cash. One is more likely to lose both games and end up with nothing. Blockchain, in those days, was a risky business. Putting bids competition on it is not going to make me any better.
In addition, no one is interested in auctions on this questionable platform. There are numerous legit systems already in the business world that can offer better services. In its peak days, they did not advertise much.
Lastly, their logo gives the impression of water going down a drain. To me, that is not something good when it comes to investment.
For these very reasons, Chronos will not survive to see the next two years of mass adoption in blockchain and cryptocurrencies. My two cents.
Thanks for reading this post. Please remember to subscribe for more content like this, possible future giveaways and much more. Hope you guys all have a splendid week and until next time, get in on some positions and secure your seat on the Moon Express.
Later.
Source:
➧ Saturn Devouring His Son (1636) by Peter Paul Ruben.
➧ Sat Bits' Video
➧ Picture Courtesy Of Pixabay
➧ CoinMarketCap
➧ Chronos Website
