Hshare/Hcash analysis

Hi everyone,

I wasn't planning to write anything for a while, but Hshare has come to my attention, and I would like to both share it with you and hear your thoughts - to confirm or refute my findings.

Hshare caught my eye because of what I thought was a good chart pattern.

On the Binance HSR/BTC chart, Hshare looks interesting to say the least. The price has been flat at the bottom with a significant spike in volume in the past week. The dollar value of the coin is also only half of its ATH. More so, the volume is driven by Korea, which, as you may remember, predicated the runs of BitCoin Cash and QTUM.

This surely looks like accumulation to me. With a billion market cap, HSR is not too low or too high for a decent run-up.

Since I hadn't heard much about it before, I did some research.

First of all, HSR kind of stood out as a weird ICO when it pumped to 40$ and dumped as low as 5-6$ when it came out. It never recovered in terms of its BTC value, but went up to 20-25$ in dollar value since then. When it first came out, it traded only on a little known Chinese exchange, which may explain the weird price action at launch.

On the fundamental front, Hshare is very confusing. The official website actually calls it Hcash, and there is little explanation as to why - unless you dig it out yourself. Apparently, Hshare is a token that proves you are a holder of Hcash - which you will ostensibly receive 1:1 some time in Janurary, 2018.

Hcash is a Chinese project, from what I gather, despite its very non-Chinese team. There is not much discussion going on Reddit, Twitter or Facebook, and my Chinese is not near the level to see what is happening on WeChat. More so, I even found questions posted by others in English that only received answers in Chinese. Its Slack invitation is not working at the moment, either.

So what is Hcash then? I am not a technical guru, so forgive me if my interpretation is wrong, but it appears to be a hybrid of blochchain and blockless systems (like IOTA). Hcash apparently runs both chains side by side and can interact between them effortlessly. Its use cases thus range from currency used to transfer value to being used in IoT. Their Roadmap is a little vague, but it is clear they have plans for DAO, quantum resistance and privacy-features implementation. It actually sounds pretty exciting if true.

However, it is a little concerning to see that their team is fairly small for what seems to be an ambitious project. Not just that, but I couldn't find any developer profiles on the website, either. Their Github has very little activity, and is accused of being a blatant copy of Decred (link). One counter-argument I found was that China does not really use Github (which is similar to the situation with NEO), so that may explain both the GitHub circumstances and the lack of an English community, both of holders and developers.

And this situation coupled with the price action got me thinking. What if it is so "Chinese", that this volume is legitimately driven by enthusiastic Chinese investors that see value and future possibilities of it? It is, after all, a good "promise" on paper, which is not different from everything else out there - we get excited about and buy into promises like this.

And that is pretty much all I could dig out. I can't stop thinking about the situation, and frankly, despite some of the red flags, I kind of like the promise they are selling... I have taken a small position with an aim to buy a bit more either lower or higher. If you are a holder and know something I couldn't find, please share your information. I would like to hear more especially from the Chinese part of the Steemit community - is there anything we, non-Chinese speakers, don't know about?

Thanks and please comment and follow if you like this kind of content. I will be thrilled to have a discussion about the issues and interesting things that I personally care about with you here.

Disclaimer: This is not financial advice. This is my personal view on the market from the fundamental and technical perspectives. The coins I write about are not always the coins I am invested in, in which case I will make it clear. The information in this post is of cautionary nature and may provide both a positive and negative forecast for you to consider in making your own decisions to or not to invest.