Topic: Musicoin analysis (Read 398 times)
Reduction in mining does not always lead to higher price. I learned that from Signatum and few others. Likely the price will rise one week before the fork. After that it might go up or down. I think I will hodl some because I have always believed into this project.
You are quite new in forums but you pointed very great things. I was following this one little coin called musicoin. And it is really underrated right now in my opinion, too. I think not only mining is gonna affect its price to see bull moves, its development is active and they are gonna launch pretty much realistic project.
I want to share my thoughts about this low profile coin. As some might know, a hard fork will come once it reaches block 1.200.000 - which is in around 2 weeks time. With that, UBI 2.0 will be implemented and the reward for a block will be 250 instead of 314 coins (a 20% reduction). This also changes the way the platform will be consumed, as all payouts to musicians will come from mining instead of listeners.
If you check https://whattomine.com/ , musicoin is constantly in the top 5 most profitable things to mine. I believe the price is stable now largely because of that (around 550-575). Chances are it will go up once UBI is implemented, as some people will push to keep it profitable for mining as well as to make any sense for actual musicians to keep using the platform. So one way or another, the price will go up and a 2x - 3x is well on the cards.
That's my perspective of it anyway. Let's see what happens in October.
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