Personal Chaincoin Journey (Part 1 of 2)

In the time before Chaincoin

First came across Bitcoin in 2013 where it was around £20+, where I though it would only remain in the hands of the undesirables. Then we crossed paths again in 2015, this time the decision to try and invest in the children’s education pushed back the entry into this field for a further 18 months.
In March 2017 a long term work colleague mentioned that he was going to invest in Ether, while showing me the current price via Coinbase's mobile app. It was around £20, he believed it could increase by 100% by the end of the year. I was interested, but doubt prevented me from being convinced.

After 3 weeks of monitoring the Bitcoin and Ether prices I decided to invest a little in both after seeing Ether more than double during this time. My goal was to buy and hold these ‘high risk investments’ until they doubled their current value. Uh-oh, I am now caught in the black-hole-like gravitational pull of the power of the cryptos.

Ether started making a serous move in price. I began to feel the the icy grips of FOMO, exacerbated by not being able to locate my debit cards for an instant purchase via Coinbase. Aargh – what the ****!! That day at work seemed to drag on and on, while the ETH price was increasing each hour. By the time I got home it was well passed previous all time highs. Did it stop me? No chance, I was now “in it to win it”.

Now I started to crave crypto news, like a vampire’s necessity for blood. Switched to looking at YouTube content and found…..Max Lee’s crypto-currency YouTube channel. Wow, this was what I was craving for!! Even more reassuring to recall that I used to follow his android related channel, where his review several years ago helped me decide to buy an Android phone.

I was introduced to “shit coins”, Masternodes, not taking this cryptocurrency too seriously, and ultimately Chaincoin! Initially I was a silent listener before an experiment was mooted on this channel, to find a masternode coin, buy the majority of the coins as a team and hold onto theses coins as they rise I price. I was initially intrigued but not convinced, until Chaincoin went up from around 0.35USD to 0.40USD. What, no mental conversion to GBP? This barely known coin was now on the move...FOMO seed was planted in me, I now did not need to see prices in GBP to follow the hype. This time I had another step in the purchasing process, to move coins from Coinbase to Cryptopia, before purchasing CHC. Aargh, what the **** (again)!! Didn’t get to buy until the price was around 54GBP. Then it went from 54GBP to around 48GBP, I felt cheated somehow and was looking for someone or something to blame. So I took it out on Coinbase’s support team for the delays in transferring my BTC.

Within a few days my mood was changing frequently like a Dr.Jackl/Mr.Hyde movie, until the main pump started. I would now walk around feeling like a guru, singing to my wife and kids with the chorus being “I am making M-O-N-E-Y!!” and “You want some C-H-A-I-N-C-O-I-N ??”. I bought in 2 more times on my road to financial freedom, which was now currently £4.24. Once the songs lost their effect I started to tell my wife that we will be “25x in 1 year and then 50x in 2 years!” and “We are going to the m-o-o-o-o-n!” Surprisingly, I was not ready to tell anyone outside of the family about “my precious” Chaincoin.

Chaincoin rocket ship Malfunctioning

I started noticing huge media covering the CHC price action. Most of the commentary wasn’t positive, but I thought “they don't know what they are talking about. We are still going up!”
A day or two later the price went past £5 and I though being 7x in a short time is now a little scary, I now felt mortal again (as my extended doses of adrenalin was being expunged from my body and being replaced with rational thought), hoping for a small correction.

Ironically, I got what I wanted and some then….many times over! The drops were resembling ‘edge of cliff’ scenarios but I could feel a general change/shift in mood within the discussion sites, with sometimes frantick requests for assistance to support buy walls. Couldn’t understand why the term buy wall was being used if they were falling do easily? Then the in-fighting flared up, BIG-TIME! At this point it was clear that those of us that banded together during the good times, had our own goals and it was now evident that we were not all aligned. Even more fuels was added when the terms “cryptocurrency scam” and “cryptocurrency scammer” where search terms for Chaincoin, and “HODL” briefly became a “dis” word. Enough? Hell no, the “ChainGate” trial was now in session where some were required to show evidence of no misdeeds related to pump-n-dumping.

Around this time were some real pain in the online forums. Many had sustained huge losses. I was sitting on 85% potential Chaincoin loss, while others disclosed their losses that were numerous magnitudes greater than mine. The finger pointing had now widened to include not just the warring YouTubers, resulting in an extremely toxic community! I added my two cents where it was appropriate such as “...we need to be responsible for our own trades” made no difference. Many in the community needed to vent and the official Chaincoin slack and other community created discord/rocket chat systems became the medium. None of the regular Chaincoin promoting Youtubers escaped without varying degrees of tarnish. What is fairly clear is that we know that many of us were pumpers of Chaincoin but, it is not crystal clear who the large dumpers were. I am not sure if all of the relevant facts will surface for the foreseeable future. Me, I am pragmatic and fully understand that there are amoral and duplicitous behaviour, along with genuineness and sincerity, which is why you should not trust anyone and do your own research.