Oh man, this one really came out of left field. Artos, the developer behind stablecoin that mysteriously vanished 5 months ago, has returned and is bringing the coin back from the dead.
If you asked me 5 months ago, I would have told you that stablecoin was one of the more promising altcoins of it’s time. Spearheaded by a competent and articulate developer with a clearly laid out game plan, I had my bets on it becoming a major player in the scene. Alas, that did not happen. Artos vanished, and with that, stablecoin faded into obscurity.
But why? What happened to artos during the past 5 months that caused him to abandon the project? It’s anybody’s guess as he only provides us with a vague statement:
“I’m sure many were disappointed and confused when I vanished earlier this year, and StableCoin development grinded to a halt. My life’s been playing out like something out of a Hollywood movie. I do not want to talk at length about the situation at the moment, but it’s been a very harrowing experience. I’ve been disconnected from the rest of the world for the better part of 5 months and have had a lot taken from me.”
One of this coin’s weakest points was that it has a pretty big premine, supposedly for use in a coin mixing service. As part of the rebirth of stablecoin, artos has destroyed the entirety of the premine. This is great news, and bodes great for the future of the coin.
This could quite possibly be the biggest news in the altcoin scene this year. In part to artos’ disappearance, stablecoin has bottomed out at a price of 0.00000400 on Cryptsy as of yesterday. Since this news has broken, some huge buy orders have been rolling in, pushing the price up to, 0.00000800, as of the time I write this article.
Stablecoin itself is a relatively scarce coin, with only about 6 million of them floating around. That considered, the current price on cryptsy is still egregiously underpriced. A short term price target of $0.50 or even $1.00 is very reasonable, judging by similar coins on http://coinmarketcap.com. At the moment, each coin is still under a penny… So there’s plenty of room for it to grow.
Expect explosive gains in the coming days.
More information: https://bitcointalk.org/index.php?topic=349198.0
Website: http://stablecoin.net
Man, I’m freaking pumped. I got a good feeling about this one. Already bought as much as I could right now.
Why? It doesnt even have a website.
Pheonixcoin also has 6m coins in circulation, it still sucks.
Phenixcoin had a giant premine that was dumped onto the market by it’s scumbag of a developer.
And you seemed to have missed the memo: http://stablecoin.net
I like how you waited until the website was up to remove my comment from moderation.
Nobody needs this scamcoin from some emo who disappeared a while back.
I especially love the “the address will be joined with 80 characters of random data, for privacy purposes.”, and then his centralized mixing service remove the first 80 characters. Classic.
Comment moderation is in place because even with captcha on, I still get hundreds of comments like this: http://i.imgur.com/3XWnjjA.png. Given how recent this article is, your comment could not have sat in queue for more than 12 hours. It’s a conspiracy though, right?
If it was a scamcoin, I imagine he would have dumped the entirety of the premine on cryptsy many months ago and moved on his with life. So that argument falls apart.
As far as the mixing service goes, it all seems a bit too complex for you, so perhaps you should refrain from commenting on it? The reason the random data is added is because since the address of the master node is known, a list of mixed addresses can be easily gathered. Since the master node’s public key is known, anybody could compile a list of receiving addresses, and then encrypt them using the public key, and be able to trace the transactions. Adding the random data into the mix makes this impossible to do – the encrypted receiving address offers no information to an onlooker. Only the master node is able to make use of it.
If you had the slightest bit of understanding into how the encryption involved in bitcoin works, you would have been able to figure that out yourself. But you don’t. And that’s unfortunate.
Cheers.
Ehh sorry I was kinda trying to troll you. I have a stake in SBC despite the flakiness of the creator because I believe the anonymity aspect is pretty cool.
And what’s this about SBC in China? Do you think it could overtake useless clones like FTC in 2014?
I don’t know anything other than what’s been posted on the forum. China is doing some crazy things to the altcoin market right now. I don’t know what artos’ plans are, but if he can successfully push it in China, a price of $2 or $3 per coin, at minimum, would not surprise me. I’m anxiously waiting the announcement.
I imagine coins like FTC will drop in popularity in the months to come, once people realize how boring they really are. I fully expect the top 10 to get shaken up as new players enter the scene (or in this case, old players re-entering).
Altcoins these days are all about marketing, and I personally love the way SBC is presented. It can definitely go places.
Thanks for your excellent quality articles, I like the way you analyse things. Keep on!
Great write-up, and I hope Stable Coin can keep building momentum. I like stable medium-to-long-term investments and this might just be one for that.
Why do you think it will reach a $1? What makes it so special..
Good ideas wrapped up in an extremely marketable shell.
Or put another way, it’s no less special than other coins that have reached that price.
Its impossible to buy it on Cryptsy, some bot keeps on putting one tenths of a price higher so i cant buy order it
All good finally bought my coins. You can delete the other comment
Hi and thanks for the great article!
Where can I buy StableCoins?
On Cryptsy.
It’s going up already! 😀
Aww, I should have bought more than 100 :p
What estimated date do you expect SBC to hit $1?
I’m feeling really bullish about it, before the end of the year is totally possible. Artos recently dropped a hint about something going on with SBC in China. Depending on how that plays out, it could push the price much higher.
Very cool. How about QRK i think it could be a couple days?
Potentially. The Max Keiser news is huge. I’d place my bets on 1-2 months though.
Tried installing wallet from stablecoin website, extracted files but having problems running application.
When I try to run stablecoin-qt app the icon appears in taskbar, but shows up with following error message (if i click on taskbar icon it opens wallet app):
Unable to bind to 0.0.0.0:17500 on this computer. StableCoin is probably already running.
Click ok and the following:
Failed to listen to any port, Use -listen=0 if you want this.
Click ok and programme closes and stops running.
Running on xp. Sorry not that tech savy, so any input would be really appreciated. And cheers for website, great source of info!
Dunno, sounds like a ports issue. You have anything else using port 17500?
Should crosspost it in the main thread, might have better luck there.
HOw many stable coins will be there max after the mining is over? what is the limit ?
also, do we have any evidence that stable coin was hugely pre mined ?
Artos said there will be about 145m coins after 100 years of mining.
There was a large premine which was publicly announced in the original thread, but those coins have since been provably destroyed as part of the relaunch. So that’s not an issue anymore.
Ive invested heavily into SBC, these incredible fluctuations have me a little bit worried about the stability of Stablecoin. I know its projected for medium – long term growth but im really worried its just a pump and dump. Assure me otherwise
I’m still holding. I’m sticking to my original price prediction. Hell, I might even up it to $2 or $3 if China gets involved like Artos has hinted at.
Try not to watch graphs too much, they mess with your blood pressure. The ride up is bound to be filled with people profit taking. If I had to guess, these fluctuations are being caused by longtime holders of SBC noticing the big price increase, and dumping their holdings without investigating why the price has increased. Once these weak hands are out of coin, the price will be free to rise.
I’ll probably do a followup article re-examining my predictions later this week.
so, any more thoughts on this now ? its rising!