HAVING ISSUES WITH THE CODE TRY TO GET IT SOLVED!
PROJECT OILCOIN IS ON HOLD DUE TO LACK OF CODING BY NOW.
WILL GIVE UPDATE WHEN EVERYTHING IS SET TO GIVE A PERFECT START.
The Oilcoin Manifest or how OIC will hit Coinmarketcap
If you are looking for the quick buck - go back mining your shit/meme/fun coins and make a couple of satoshis.
If not, please take 7 minutes, read my manifest and THINK about it.
Scenario #1Let's say there is a new kid on the block - shitcoin (replace shit with any other name). You wait till it gets in the pools or start solo-/poolmining the shit out of it. A couple of days later there is a new coin and you start mining that coin and so forth. You are frequently checking the shitcoin thread exchange to find out the current rate. But there is one problem - while everybody is mining newer coins, they want to get rid of shitcoin. People start bidding lower and lower rates, but there are no buyers?! Finally people forget about the coin and the next 2 weeks no one remebers it and shitcoin dies. It even didn't make it to the exchanges. Your are sitting on your coins and lost energy and time. Was it fun? Maybe for the first or second coin...
So could I have made any money in scenario#1 ? Short answer - no.
Scenario #2You start mining shitcoin. People start mining shitcoin. People start trading shitcoin on forum exchanges. There are even people who are willing to buy/trade the coin. Wow. You come home from work and see that shitcoin made it on an exchange. Double wow. You are checking the buy and sell orders and realize that after only 1 hour shitcoins value decreased by 400%. Shit, you start dumping the coin. Everybody dumps - hell yeah. 3 Days later the coin will be removed from the exchange.
So how could i have made money in scenario#2? There exactly two people who made money here - the devs, who are the first people dumping their own coin and slackers who are sitting the whole day infront of their PC and waiting for their shitcoins hitting an exchange. So either you are unemployed or a have A LOT of time. It won't take more than 2 hours till EVERY shitcoin gets dumped after it hits an exchange.
I think many of you experienced either one or both of the scenarios.
This one-way road is happening right now and only the people dumping their coin whithin the first hours are making money and even then not a lot.
So why is Oilcoin any different from other shitcoins? - There are two reasons why. But just wait a moment.
With the help of DOGE and maybe Coyne West the cryptoworld got a lot of attention the last weeks. Open Coinmarketcap.com and take a look at the #50-100 cryptocoin names. OK? Then take a look at the names #1-50. You probably noticed that the names of #1-50 are more serious minded. Now put yourself in the position of someone who read about cryptocurrency the first time and is looking at coinmarketcap.com. Those people probably never heard of mining either and don't have the time or don't want to dig deeper. There will be some people who will dig deeper and start mining XYZ Coin. Maybe some people made some coins and start trading on exchanges. Those people will not study the forum and announcements on a daily basis. They don't care about difficulty, blocks etc. - they just have some fun trading coins. Remember - I am talking about the people who are new to the cryptoworld. So where do those people invest/trade their coins? Of course they make their decisions by acting on instinct. For them the coin details (block, diff etc.) is just "nerd stuff" and they go along with the best name. You and I must admit, that oilcoin is a good name.
"BoobaFR, are you shitting me?!" - No, I am not. Go to your girlfriend, boyfriend, neighbour or whatever and show them coinmarketcap.com - give them 1 minute to look at it and ask them to choose 5 Coins they would invest in from #50-100. I am serious - you are spending so much time on crypto, take 5 minutes and really do the survey. Do you even remember why you you are on this thread?..... Ah, because of the name.
"OK, OK, I get it the name is good. But why should I support/mine this coin? And much more - why did I read so much?"First things first - remember the two scenarios? New shitcoins coming out exponentially, even if you made a couple of satoshis or even more - this will end as soon as anybody can make coins WYSIWYG. Oh, wait? There is already a coingen out. Oh, wait - the guy sold it to another guy. By the end of Jan/Feb the kind of speculative mining that we are all doing now won't be ANY profitable anymore. Think about it.
Remember the guy who read about DOGE and traded some coins on coined.up? This group of people will rise. Yes, there will be more people coming and think they will make a quick bug. Think about the attention crypto will get again, as soon as there will be other hyped coins. Think about the people buying/investing in coins just because of their name.
And here comes the most important part: How will I get a piece of the cake?This is very easy - just HOLD on your oilcoins until it hits coinmarketcap. Of course there will be people dumping OIC till it hits the first exchange. But again - look at your folder with all your wallets on your PC and think about how much money you made by mining shitcoins and more important - look at all your shitcoin wallets and think about the coins you couldn't sell. This number will rise. No question.
Please follow my request
Mine Oilcoin for 1 day, a couple of hours or 1 week.
Hold your coins in your wallet (like the other 80% of shitcoins you were not able to sell) and go continue mining hamstercoin, smelly feet coin, krautsalat coin or what ever.
When oilcoin hits the exchanges - hold.
However if you place your sell order - think about scenario #1 and #2 and think about the power of names.
If an altcoin will hit coinmarketcap, it will stay there.Amen.
