An introduction to argocoin, a potential safe-haven during the bitcoin correction.
Hands down best LOGO
This chart is looking better.... and seems to be inversely related to bitcoin (6 hour)
Brief History
Introduced earlier this year, was listed on coinexchange.io in February when it saw a quick pump and dump. Since then it has been hobbling around 300 to 100 satoshi, from over 4000.
When I got in
I started mining it when I was reading various people mentioning an uptick in skein rentals on hash flare/ simple miner for GTX 1080’s. I have a few of these cards and decided to give it a shot. I had previously been mining UIS but was underwhelmed by my earnings. At the time I was able to cash out at around 1200-1000 satoshi’s… which was very helpful during the down turn.
Bad rap?
A lot of people are complaining on the public channels about the lack of development of the coin. However, after some research I did find that they do have a presence that is suitable for a coin that is less than 6 months old; they have a GitHub presence and code. They do not have a white paper. Their wallets work and are fast! Can’t say that about much more popular coins. They have a roadmap and generally seem to be adhering to it. They could be a little more involved in various communities and offer a bit more information in their press-releases (if you want to call them that)
CoinExchange Getting Better?
I hope so. I have had a few problems with this exchange, but lately they have seemed to resolve themselves. Their minimum trade order (20,000 satoshi’s) makes it easy for small miners to realize some profits. CoinExchange does not have a trading API (my major gripe), but this also means price action is rather predictable and undisturbed by bots.
Price Drop
Along with many crypto markets this one dropped from 1200 to 480, and today at around 100-200. This is when I stopped selling mine and now I am holding them. Occasionally I mine to pad losses.
Why I’m bullish
I like the underlying skein algo, the privacy features, and the implementation of the 0x protocol. The speed of skein is acceptable and both GPU and CPU mineable. There is a ccminer fork that has exceptional skein also performance as well. Transfers are cheap, there are a few mining pools to chose from that feel to me aren’t quite as scammy as the rest. They also have somewhat predictable price swings.