Price of Vertcoin before and after the B2X fork
ASIC mining has been concentrated into relatively centralized data centers operated by professionals which makes it less decentralized consensus. Instead of any random person, using a relatively powerful computer, you are dependent upon only people who are advanced enough to operate specialized ASIC hardware and who buy it from handful of companies that can distribute the hardware however they please and to some extent for whatever price they please coz the demand is high.
Hence, we need those coins whose algorithm shows “resistance” to ASIC hardware and the only coin who is extremely committed to remain ASIC resistance is Vertcoin. The reason is that it has not only memory intensive algorithm (Lyra2Rev2) which makes it particularly difficult to develop an ASIC in the future but it has proved in the past (by hard forking) that if someone tried to make ASICs for vertcoin; it will hard fork to remain ASIC resistant and hence “the people’s coin. http://ift.tt/2gMkOdC.
That being said, let me tell you how the value of vertcoin will steadily increase to its ATH starting from 9th Nov, 2017; and after the Nov. fork (until the end of Dec) the price will skyrocket to 10 to 20 USD levels and beyond.
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On 9th Nov, 2017; Korean exchange upbit will allow new subscribers to its exchange. https://twitter.com/UPbitExchange/status/926253055288504320. Since 1st Nov, 2017; they had halted registration of new subscribers due to their server overload due to enormous public interest for registration. In the 1st week of their launch they already became the 2nd largest domestic exchange in Korea surpassing Coinone and Korbit (largest domestic exchange being Bithumb). http://ift.tt/2Al1T0I. It is to be noted that upbit is first altcoin exchange in Korea which is run by kakao talk (a messenger like whatsapp used by 95% of korean people). People trust Kakao talk’s products (unlike Bithumb which was hacked previously). Vertcoin (being Asic Resistant) held top position in terms of trading volume for significant amount of time on upbit and its interest in Korean people have increased a lot. Hence, expect a big increase in vertcoin’s trading volume starting from 9th Nov, 2017.
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Secondly, Upbit is launching vertcoin/KRW trading pair. Timeline is not given on their website but it is widely anticipated to be added soon. This is big news because in all the 3 popular Korean exchanges (bithumb, Korbit, coinone) there isn’t any bitcoin pairing and Koreans in general are not very used to trading in bitcoin pairs. Vertcoin/KRW trading pair will not only bring more volume but also will be much more convenient for traders. This VTC/KRW trading pair could be coming any time from now.
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Bitcoin gold will soon be allowed to be withdrawn and/or to be traded on various exchanges. http://ift.tt/2AevIQP. It will be further sold for other established ASIC resistance coins such as vertcoin. Currently, there are security issues with its listing in many exchanges such as coinbase and other exchanges. There are other reasons, why Bgold will be sold for vertcoin, which I gave in my previous post here: ttps://http://ift.tt/2AkMU71
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For people who have concerns if vertcoin could further reduce in value before the Nov. fork; they need to realize that just in the past few weeks; Vertcoin’s market dominance has already increased significantly. For instance, its reddit page’s subscribers rose from 10,000 about 16,000. It’s market cap has skyrocketed from about 33 million USD to 160 million USD in few weeks. It, also recently, got massive media coverage which led to its further exposure to new people. Majority of the people, including me, are staunch believers in vertcoin technology are long term hodlers. Given this, I believe that it's value is not expected to dip further from its current levels.
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Lastly, I have been following many crypto traders who are suggesting to buy vertcoin (and other alts) before/around or right after the B2x fork because alts are expected to rise in value after that. However, you might not be able to purchase alts right after the fork due to the issue of replay protection of B2X. You might also end up losing all your bitcoins. http://ift.tt/2AevIQP. Moreover, there is a lot of confusion and fear among the bitcoin community as to which coin will be the real bitcoin and given the issues of replay protection (not been activated on B2x) along with Bitcoin cash claiming to be the real bitcoin. This could get pretty complex and bitcoin’s value could collapse to extremely low levels. That means even if you get B2X; the combined value of BTC and B2X could be lower than the current bitcoin’s price. Do you really want to take this chance or do you want to make significant gains through investing in people’s coin…your choice!
This is my humble opinion. If anyone disagree or would like to add more; i would love to hear for a constructive discussion.
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