This is one of a series focusing on lesser known coins that have interesting value opportunities.
Nasdacoin (NSD) was one of the lone coins to burst upward amidst the recent woes of the crypto market. It saw more than a 3000% increase as the rest of the crypto world bled like a stuck pig. This prompted us to look into NSD and check it out.
According to the whitepaper, NSD is:
Nasdacoin is an encrypted and decentralized virtual, open source, peer-to-peer currency, developed with the scrypt algorithm in the POW/POS Hybrid format, allowing people with entrepreneurial and passionate financial and technological market profile to store and invest their wealth in a safe currency not controlled by any government and even earn a substantial amount of interest on the investment.
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Unlike some cryptos, Nasdacoin can be mined by all and sundry with the use of Asic mining or Rig CPU/GPU via Nasdapool (nasdapool.com). Those without mining knowledge can use mining POS acquiring NSD and save it in a window wallet. The NSD project aims at opening an online marketplace, one that is facilitated by its native token – NSD. Users can trade goods and services directly via the Nasdacoin blockchain and use NSD as their payment medium. A prominent feature is the ‘geolocation option’, which displays ads relevant to the user’s location. While Bitcoin has been promoting its image on a macro level to distance itself from earlier associations with illicit activities, Nasdacoin is looking to integrate its blockchain with gambling and plans on launching a casino that will use NSD to purchase chips in January 2019.
Under the founder’s Bio, a man named John Babtist, the company adds this:
Designed to generate satisfactory and sustainable income for visionaries entrepreneurs, the Nasdacoin Project is not confined by barriers between the two worlds … Those who only want to trade our NSD currency enjoy the security and Blockchain Technology, with fast and secure transactions, as well as being able to trade in several exchanges using our currency. For those people with a more daring profile and the power of duplication, our Affiliate Program provides extraordinary income, using a system developed with professionalism and total security, ensuring that your work is always optimized to the maximum. Our Project has already achieved an international level of expression and safe operation environment. The power of our Affiliate Program will certainly be the catalyst of Nasdacoin strength as a reference in the international market.
Our first question after reading the whitepaper was: is this a scam? Babtist has been associated with some other names in the game, most of whom are not very appreciated. DFRF Enterprises for one, Swiss Golden for two, Jeunesse for three, Game Look network for four and Alliance Group for five. The sad part is, each of these have been considered to be scams of one type or another. The verdict is still out on if this is a full-on scam, but not one project we would be putting our money into…