The Coinmarketcap error briefly listed PACcoin as the 3rd most traded coin by market cap. This obviously wasn't correct, but it got the tiny altcoin a lot of publicity. New money rushed in and caused an amazing pump.
ran with it and reached out to the Ripple community with a self promoting apology
. Because social media is strange, the forum got a lot of attention as people debated veternus's motives and denounced naysayers as if to say; Ripple has the morally superior community and we support this coin we don't understand.
PACcoin Developments and Milestones
Shared masternodes will also become available with the launch of Paclyfe in early 2018. This will further lower entry barriers for PAC staking and logically increase the amount of $PAC coins in circulation. They are also intending to implement privacy features and build anonymity into PACcoin with protocol extensions. Private$PAC is an enhanced version of the CoinJoin system. Besides just using CoinJoin, $PAC will employ a series of technical improvements such as decentralisation and a high degree of anonymity leveraging this chaining approach where there is mixing that occurs well ahead of the future transaction
The Road map also talks about a PACdirect.net platform that sounds a lot like a decentralised exchange. There isn't much information on this, but it would make the cryptocurrency easier to trade. The team are currently focusing on forming partnerships and trying to make up some ground on fast moving altcoins that are further along the development cycle.
PACcoin's biggest asset is its community. There are a militant army of shills and converts doing everything they can to get PACcoin moving. In their eyes the coin can do no wrong. When reddit users complained
about losing money during the public redemption because the two tokens aren't equally valued, it was dismissed. When Veternus told everyone to vote to get PACcoin listed on BitZ.com through a referral link that earned him 50% commission,
it wasn't questioned.
It is hard to trust anything that comes out of PAC's Reddit community with posts like this:
This entirety of Mojeans Reddit account's history is aggressively shilling PACcoin. It is either a bot or someone who's paid to do this because this isn't how people organically use social media. Maybe it is someone in the community trying to kick-start their hodlings, but it seems unlikely.
Reddit user Pac-curious created a website to detail his review of the PAC whitepaper.
Should I invest PACcoin?
Obscure internet teams have proven that they can create billion dollar cryptocurrencies time and time again, but honestly, PACcoin is a long shot. The small market cap means that PACcoin is never more than one whale away from 100% returns, and the new team is starting to move the project in a direction. The biggest problem that I have with PACcoin is that it doesn't do anything. It can be sent as a cryptocurrency to transfer wealth, but so can thousands of other coins.
On the other hand, PACcoin investors might be getting in on the bedrock of a promising altcoin. The CMC glitch was incredible exposure for a coin with such a tiny market cap. It also has value as an investment vehicle. There is value in $PAC coins because they are a scarce coin that is needed to stake on the network. As the value of these coins increases, it will be more valuable to stake, and this self-perpetuating confidence might drive up the price. POS pulls cryptocurrencies up by their bootstraps.
More PACcoin Investment Information
interested in investing in PACcoin? for a more speculative, investor orientated run-through of PACcoin's prospects, read Coinlist's complete investing in PACcoin guide now.