Over the past couple days there has been many crypto Youtubers attempting to start a pump and hold mania. The coin in question is Chain coin (CHC) at the time of writing this, Chain coin is trading at $0.78. The coin for now can only be traded on Cryptopia and Novaexchange but will be hitting the Bittrex market place soon.
The purpose of this movement is to generate as much interest as possible but unlike the pump and dumpers which sadly all too many people have been burned by myself included. The idea here is to steadily pump and hold, of course they are going to be many dumpers out there who are taken in the profits from their original investment.
The fact that the people have the power to control the price of this currency shows to true beauty of a decentralised currency. If Chain coin starts making significant gains over the next few weeks, I am sure there will be a lot of self battling whether to hold or sell. I believe this particular coin if the foresight is strong in the crypto community could do very well for the holders.
So why Chain coin? I see the main incentive to keep on buying and holding Chain coin is the ability to run your own masternode. As it stands now for every 1000 Chain coins you own you can run your own masternode from home and generate an extra revenue stream, depending the value of the coin depends on how much you percentage of revenue will be.
So I am sure this will be a very interesting coin to keep your eyes on. My prediction is it will hover around $16 mark and will take a big plummet but hopefully the crypto community proves me wrong and for each $0.77 spent will prove to be a very wise investment indeed.
Would love to hear your thoughts on this matter.