I've been following the youtube videos and I've been tempted, but there seems to be quite a big amount of trust required that people won't massively sell off their coins. Even if a large part of the HODLers actually HODL, the temptation will become too much for others. Game Theory dictates that the HODLers might end up being bag holders...
Secondly, I wonder wether this has any longevity.. When it comes down to it, the coin has no value really. The only reason it has value and is going up is because HighonCoins is buying it all up, which is the point ofcourse. But once they stop buying it all up, where is the demand going to come from? Simply from bears who think the coin will go higher?
What's to keep this news, which is spreading like wildfire already, from creating more FUD with the plan as more people jump on and off for a quick buck?
Many questions... But very interesting concept nonetheless. It makes me wonder if this might be exactly what has happened to Bitcoin or other cryptocurrencies. Who's to say there aren't a few early Bitcoin pioneers who stocked up, and are doing precisely this but on a much larger scale? What's to keep major banks from delving into the cryptosphere and doing exactly that? It would only take a few billion to completely buy up a market. Sounds like a lot, but look at how much major companies are paying tech start ups when they buy them up.
Edit: Still upvoted, if only for the sheer entertainment value I have from following the whole ordeal! I might buy a small amount of chaincoin just yet to see where this adventure goes :)
RE: ChainCoin Revolution - The Pump & HODL Movement!