I have some bitbeans I bought a few weeks ago because the chart was incredibly bullish. I am still holding them but now I am undecided if I need to hold them for the long term.
I have tried to find information about Bitbean and try to identify the good reasons why I would need to hold this coin. It's been not possible to find something.. Can you please help me...
Why is Bitbean a good investment?
Has Bitbean anything which can differentiate Bitbean from other coins?
I will appreciate any explanation why Bitbean deserves to be above 1000 sat for example...
Thanks!
Hello,
Yes BitBean did look bullish a few weeks ago but has since come down from that peak just like a lot of other Altcoins. If you are holding a few hundred thousand or million beans then I suggest you start sprouting them in your wallet to earn more beans. If you happen to sprout you will earn 1k beans unlike other POS coins where you earn a certain percentage or an interest of say 5% per year. Bitbean is like mining Bitcoin in a way where if you do sprout you earn the whole amount like mining a block. I think we could be in accumulation stage before we might see a spike in the price once again. I think BitBean is a good long term investment because we have an active dev and strong community support and that the coin is a few years old so it has stood the test of time. We are currently all waiting on some news from the festival that is currently going on where BitBean has set up a stand to promote BitBean so we shall see what this does in the coming days.
Thanks for the reply.
Regarding the technology, is there something to highlight?
I am already sprouting them but.. I am not getting 1k every day, why?
You're welcome!
Don't know too much about the tech side of things with BitBean, the dev could most likely help you more on that. Well it will depend on how many BitBeans you have sprouting as to earning 1k beans everyday, like I said in a previous post around 500k to 1 million will most likely get you around 1k beans a day sprouting. If you have less then you can expect to sprout every 2nd or 3rd day also depending on how many you own.
Thanks, I am going to hold them.
I calculated the profit you can get sprouting them and it's good!
You're welcome!
Yes people can make some good profits sprouting BitBean if they hold a good amount like a few hundred thousand beans as it would sprout a few thousand beans each week, sometimes a couple of sprouts per day if people are lucky. The festival seems to be going well judging by the tweets on Twitter. Maybe the dev can post an update on here.