I was looking for new coins to invest in and noticed that this coin has a very high hashrate, but a relatively low market cap. Checking out the work currently made on the coin it seems like a pretty safe bet to buy some. So what I understand from some quick browsing is that the new developer Romano took over from the original developer and that a lot of things are in the works,
Would anybody be so kind to grant me a short recap about the awesomeness? And why the low market cap?
Thanks in advance
What you said is a pretty valid summary of where we are at. New developer, old one crapped out on everyone - Romano is grinding out a lot of good things. But it's a 1-2 person team (from what I know) and there is little marketing going on with the project outside of the occasional article going on. I personally think the low market cap is due to the fact the crypto world is always focusing on "what's new/what's next" - not realizing old projects have turnover in developers and essentially change the direction of the project.
If Romano had started a brand new coin from scratch, come up with a catchy name and then released the same road map and done the ever so popular ICO he probably could have raised 500+BTC on the hype. But instead he was probably already invested in VIA (I don't know this, he can speak for himself) and wanted to carry along an already developed coin. He also emphasized the fact VIA was already trading on polo, which is a hard feat to accomplish these days. The crypto space doesn't often catch up to projects like this quickly because again, it's not "new" and many people like to try and chase the shiny object.
There is also something to be said about the very minimal order books. Without strong liquidity a lot of larger investors will stay away. This creates a chickun/egg situation where large investors avoid coins with no liquidity but it takes large investors to build support. I will say though slowly the support books have been growing. In the few months I've been following the projects the average support levels have grown from 5BTC to 15BTC up to ~30BTC for the last week or so.
Purely based on the effort/production of Romano it is only a matter of time before others start to notice the progress being made. VIA is a coin not on many people's radar but is releasing more updates on a regular basis the a majority of the coins in the market. I've been recommending it to friends for the last 6+ weeks and still think it's a good buy in the 4000 level. I bought about 20BTC worth and don't plan to sell until it's at least at 10,000.
This is a great recap!
Yes I want to do something special. An ICO would be great to get funds but it wouldn't be ideal. People would jump on it on excitement, coin would be added to yolobit & ccex but since people bought the ICO, volume would drie down on those 2 exchanges and the whole roadmap would fall in the water.
I'd like to contribute something to the bitcoin/crypto community and an older coin is excellent but Viacoin code is well written & the unit tests that have been written make it really stand out.
For its time in 2014.. Wallet generator, Seeder, Travis CLI unit tests and excellent code. Does anyone see coins getting released so professional in 2017? Not really.
If someone cloned Viacoin 2014 source code right now, change parameters and I can tell miners & ICO investors would jump on the "train".
Viacoin used to be a big dog back in the days. I'm sure we can make it great again. The only reason it went down is because of a few certain people who can't code but did fud in the past.
Yes mostly I solo queue Viacoin development but for marketing I have a few friends helping me out. Take as example Litebit.eu and Litepaid.eu to attract merchants & investors. Those 2 don't accept coins easily.
If anyone has questions, let me know on Btct of twitter. I'm always online Atleast 17h per day.
Not like those developers on btct who are suddenly gone for days/weeks and you don't know if they ran away or died
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