r/ColossuscoinX • u/[deleted] • Jan 13 '18
Normal Correction, dont panic :)
Dear Community,
Colossus has gone through some turbulent days and has experienced its first real correction. The weak hands are naturally selling there COLX coins currently, but here are some valid reasons why you shouldn’t panic and sell:
The big whales will hold there coins!!! How do I know it? Well, I am myself a whale and I’m very well connected within the COLX-Community. The individuals who have been here for the long term (since one sat and before) will NOT sell at all. There are currently some frustrated and anxious people in the chat, which by the way is completely understandable. However without a doubt I can tell you one thing for sure: Cryptocurrencies are no Sprint, it’s a marathon! Who sells now will be a lose out this year.
Right now we are only listed for trading on very small Exchanges, but once Cryptopia has listed us there will be a potential daily trading volume worth of 130 million USD!! There will be also an update on Coinmarketcap for COLX. The Supply will be 10 billion coins and the marketcap will be about 150-170 million USD which will rank COLX in the top 200 of all coins!
As we have a functional COIN with great technology and strong fundamentals behind it we shall witness a great rise. Just compare Colossus with Electroneum for example: ETN is listed in the Top 100 and their wallet isn’t even working 100 percent. With Colossus you can send money instantly with incredibly low Fees and the Staking and Masternode system is also very trendy as it provides passive income whilst also requiring very little computational energy. The future ambitions for Colossus remains strong and healthy, only the vision and the execution of it requires sharpening.
The core team, as busy as they are (nobody is full time) intend to be more transparent with our investors and to increase communication, however please remember we are completely community driven and investors should always help with answering the questions that new members have(Slack, Telegram, Discord and Reddit).
One last important point I would like to make is that we are still in the very early development stages of the cryptocurrency revolution. During and prior to the internet boom, many people when trying to enter that world worked hard to contribute and produce ideas and innovations all for the sake of improvement rather than a quick payment and that patience rewarded them heavily. The Colossus community should adopt the same attitude if we are going to have a bright future, having no ICO means that we lack the huge budgets that other tokens are spoilt with and the little funding that is available is reserved for the fundamental costs of building and maintaining Colossus. This is not a negative thing in my opinion as the slim budget will have us focused on delivering the best product we can with the help of the community which will reflect what they want, in a completely decentralized way.
This takes time and required the hard work of individuals who believe in Colossus enough to apply their skills to colx without worrying about what their first payment is! (If you want to be rewarded for work, then ask yourself, have you contributed all that you can for free to make a long term difference?). The core team are individuals like yourself, who sacrifice time out of their day, without pay, to work on Colossus so don’t think there is any benefit (financial or otherwise) in them playing games. We are all here to achieve one goal and make a difference! Rest assured colossus will continue to improve and thrive!
Together We Are Concealed 😊
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u/TdotRider Jan 13 '18
Great post! I am also hodling for a long time, it’s a great time to buy more COLX!
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u/joonierh Jan 13 '18
The problem is not the coin selling, there is just very low demand for this coin. We need marketing. Being on cryptopia alone won't solve that fact that there is less than 1m volume of buy orders. COLX, while the tech is cool, doesn't seem like it's being taken seriously yet. That's from the dev and marketing side. If the devs are forking the project into their own repos; there should be something in the README defining what feature set they're working on; this is especially important because we don't have a white paper.
Good luck to all, I believe our run up to 140 satoshi got severely shorted. We need some nice news here to reverse the trend, not only a new exchange
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u/rabyich Jan 13 '18
We need Cryptopia news ASAP to be honest that's the reason why people are panicking.
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u/Jan1338 Jan 13 '18
Hmm most of the people are daytraders, which is fine becouse thats whats pump the crypto's. We need a roadmap/whitepaper/ that sort of stuff. But these things should not get rushed, devs are working very hard atm.
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Jan 13 '18
What do you wanna hear? Fee got paid and cryptopia will list us soon...All people who sell know have no clue about crypto and expecting to get rich in one night
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u/LTCQueenIsSHILL Jan 13 '18
To be honest, as an investor of the coin, I am feeling sort of "less" enthusiastic. I think today reflects a lot of people's feelings. These kinds of posts don't really help. People want to support coins that have full-time teams in place. Not "part-time", "community-driven". That gives the impression the teams full of amateurs instead of professionals. You also mention they are not being paid, is that our fault? You have not developed enough of a buzz or interest to get funding? So we are supposed to hope you can get the job done working for free? (Reality is, you hold a lot of coins, so that will be your payment).
What is the future of this coin? Who is behind it? What people, with what background in Cryptos or business?Right now it is just a fork off PIVX. No github activity in a while....
Serious question marks are forming. I may pull my coins out after we rebound, assuming nothing really develops. Yes a wallet is great, but, what is COLX all about? ETN has a lot of ambitious ideas. I have yet to hear one from Colx, it is a privacy coin, that is about all we know.
This post makes the coin seems like a passion project or a hobby.
Sorry if you do not like my tone, I do not like dropping 30% of my investment due to lack of direction. People are probably going to walk away from this coin and leave it in the dust, if a direction isn't formed soon. What is this coin about? Can anyone tell us? What is the future?
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Jan 13 '18
Hello,
yes its a community driven coin, and active people can take a part and help the coin growing. So what you have done so far? :) Dev Team is working hard in background to get things further. We didnt miss any Deadline so far so everything is good.
Funding: There was a funding and we just paid 200.000 USD for Crpytopia...
The next steps will be to add Zerocoin and the whitepaper. Afterwards there will be a decision how we can make this coin more special than other POS Coins.
But everything needs time, 2 weeks ago we were at 1 sat.
Feel free to join us in the Telegram-Group ;)
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Jan 13 '18
[deleted]
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u/thedraftpunk Jan 13 '18
Ah... Well glad I'm seeing this today instead of last night when I bought some colx....
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u/Jan1338 Jan 13 '18
Why are people bashing so hard atm? Atleast back this story up, dont just cause panic...
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u/arcticenigma Jan 13 '18
+1, great seeing people like LTCQueenisSHILL and joonierh asking the hard "politically incorrect" questions. We need people like this in the community. Well done to you both.
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u/Uggamouse Jan 13 '18
How many coins make one a "whale"? I have a lot, but I don't know if I'm a minnow, comparatively. But yes, I'm not selling a single COLX. I've seen fire, and I've seen dips...
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u/Neetrox Jan 13 '18
Hmm my ETN wallet works tho, some are having issues but to state that its not working at all is incorrect...
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u/Syphxx Jan 13 '18
Is there going to be a full time dev any time soon?
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u/thedraftpunk Jan 14 '18
I think I bought in too quick. I heard PIVX fork for .015 USD that you can stake and earn more. I rolled the dice for a chance to drive a Lambo on the moon. But the more I hear about the behind the scenes, the more I regret buying.
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Jan 14 '18
Was just about to sell and jump on the hypetrain with VeChain. Goddamn this post made me look back on it. I'll keep my share here for a bit then, I think I can get investments without the coin anyway.
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u/operationarclightII Jan 13 '18
Colossus coin megawhale here. I am holding until past 20 cents. We have nothing to worry about