A new coin that will be introduced succeeding the NXT that was recently dumped hard. Most of you deep in crypto know about this i reckon though I tried searching here and nothing came up. Not much interest probably so not expecting too many replies.
I had a position on Zcoins a few days ago ago which I sold right before the pump and bought more Nxt with the money. Michael_scott_noooo.gif Bad move or so it seemed as nxt went down the same day and I already had a position on Nxt prior.
After researching what happened with Nxt it still didn't make sense why it was tanking although I did understand the reason that it will tank after a certain event. Namely the screenshot during a specific block aftr which the people who held 1 NXT will be rewarded half a Ignis coin.
It seemed not many exchanges participated in this reward distribution so I could guess this combined with perhaps a lack of knowing/understanding made many abandon ship regardles.
There will be 1 billion ignis coins from which half were auctioned previously for around 33 cent per coin. I believe not many people knew about this hence the "low" sale of 15 million dollar. If U check https://coinmarketcap.com/currencies/ignis/ it is marked at a hefty premium imo which probably will not hold in reality, but even at only 2-3 dollar it seems people who bought it for 30 cents will make a quick buck. It seems the volume of trades or what do u call futures, is so small that it is easli manipulated, I understand that.
I bought 2400 NXT before the screenshot hoping I do get 1200 ignis coins, tried selling the nxt asap but many seemed to be in on it, I only got 1 dollar back out of every 2+ dollar spent. I did factor in this loss with the hope that Ignis will at least put me back on top.
If ignis is the better coin over NXT which was two dollar it just felt the right move to make but I noticed that logic doesn't give a shit when there are whales pumping and dumping on a whim.
I invested in Ripple, bitcoin and ethereum 7 months ago and I'm still way up in the green so don't feel too bad if the plan doesn't work but I am wondering if anyone else is holding Ignis and if it seems too good to be true? I am as noob as they come and don't understand half of what is being said in other crypto threads. I guess I should dedicate some time on babypips and the likes as lord Jux has suggested.
I'm not even sure that I will get my coins, an email from my exchange said it will introduce a wallet for the coin after it is deemed stable enough. I hope I don't miss out on an early pump if that is the case.
Whatever happens happens and I hope everybody has a great year in love, health and other success!