Octoincoin still going down.

As many of you know, Octoin (reviewed here) is now one of the longest-lived online investment programs.  So, even though we have them on “Hold” status, we still try to keep up to date on what’s going on with them.  As you probably also realize, the activity of Octoin has more and more focused on Indonesia.  If you aren’t yet aware of this, a quick look at past news items posted on the Octoin website will change your mind.  In recent weeks, Octoin has launched a series of webinars designed to educate interested people about blockchain technology in general and Octoin and Octoincoin (OCC) in particular.  Info on these past webinars also appears in the Octoin news listings.

We have taken a special interest in OCC since the time that Octoin unilaterally decided to change its investors’ accounts from dollars to OCC using the arbitrary conversion of one OCC = $100.  We thought this was extremely unfair as the conversion amount was dreamed up by Octoin rather than being taken from a public exchange.  As we have indicated previously, this is the reason we have placed Octoin on “Hold” status.

So, periodically, we take a look at the value of OCC on the Yobit exchange — the first (and only?) exchange to list OCC.  On April 9, Yobit indicated that the value of OCC was roughly $2.38.  Just now I checked Yobit and found that OCC/BTC = .000212 and that BTC/USD = 8450.  Multiplying these two numbers together, we find that the value of OCC is now around $1.79 (according to coinmarketcap.com website OCC = $3,10).  This is a decrease of roughly 25% [(2.38 – 1.79)/2.38 x 100] — which is quite a lot in a week or so.  Of course, you must always remember that altcoins are extremely volatile and that these numbers can change quite quickly.  However, what I try to do is look at long term trends and forget about the daily bumps in the curve.  Most significant might be the long-term plot of OCC/BTC which indicates that OCC is on a steady downward slide and really can’t get much lower.  Here is the link.

https://yobit.net/en/trade/OCC/BTC#1M

I hope this information is helpful.

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