I guess should have not bought into the hype. This is my first losing trade for a long time, not a large amount but it still sucks.

I have bought PIVX at 1.79$ , and just sold it a few minutes ago for 1.43$. Basically bought at 80,000 satoshi and sold at roughly 52200 satoshi.

• https://steemit.com/becomingrich/@profitgenerator/becoming-rich-ep-18-pivx

Anyhow you calculate it that is a 20% loss. Of course other coins have lost some percentages as well in the recent correction, but that is not why I have sold it.

I have bought into it based on the hype that many people in the BTC community were promoting. I was foolish. Usually I don't invest in hypes, that is the worst mistake that you can make, but this time the hype seemed real, like even @tracemayer was talking about it. So I thought maybe there is something to it, after all if coins are hyped then the community will pump up the price.

This time I was wrong. So now that the hype didn't affected the price, there is really no more reason to hold onto it. The coin itself is nothing interesting.

Basically it's a private coin with the same protocol as ZCash, which is nothing interesting. Other than that it has no "attractive" features. Anonymity is a hot topic, but just copying ZCash which could have a flawed protocol is not exactly what I would call improvement.

Even Monero and others are struggling to achieve real anonymity, but then you would expect at least something new, like if there would be some new algorithm that would do this then that new could would be the real deal, but currently we don't have anything solid.

So don't get me wrong, there is definitely demand for anonymity, just not for copycats, or bloated implementations of it.

Ok what else?

Obfuscation

Well it's like the Bitcoin implementation of CoinJoin which is still not a "silver bullet" last time I read there were still ways around it.

SwiftTX

Instant TX, so doe DASH. Well I'd rather use DASH then, it has a bigger community, and can scale easier.

Code Base: PoS 3.0 Bitcoin Core 0.10.x

No value there.

See-Saw Rewards Mechanism

This is also similar to DASH.

Masternodes

This is also similar to DASH.

Other Unique Features

Again, this has everything DASH has so no value here.

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It's just a fork of DASH with little or no improvements. If you want to use DASH then use DASH not PIVX. Other than that I see absolutely no value over other coins. There is no "killer app". There is nothing that would drive a lot of demand to it.

The coin itself is probably worth like 20,000,000$ in my estimation like a lot of those other useless coins, so that is where I think the market cap will go with the price.

I was foolish to believe there was something special here, but I should only invest based on good information, not on rumors and psychology. That is how I will do in the future.

If I break the rule, I lose money, it's as simple as that. This was a cheap lesson now, but later it might be very expensive.

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The other coins are doing fine. Well the current correction has wiped off some profits, but I think it's just temporary, the other coins, unlike this one, have a lot of growth potential.

Like Steem, that has been growing for the last 3 months, survived many corrections, and still growing. That shows us that Steemit itself is a good idea.

The other ones are too. I will reveal my "Golden Goose" soon and see if there will be some good profits there in the near future.

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Disclaimer: The information provided on this page might be incorrect. I am not responsible if you lose money using the information on this page! This is not an investment advice, just my opinion and analysis for educational or entertainment purposes.

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Sources:
https://pixabay.com

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Upvote, ReSteem &