Or Do They Mean Octoin?
Octoin just posted a confusing release with the headline, “Octoincoin Now Having Official Status in Indonesia.” Then, there is the sub-headline, “Octoincoin is Officially Registered! Then, the article goes on to say that the company, Octoin, is officially registered. That makes more sense to me. I cannot understand how a specific cryptocurrency can have official status. But, certainly the company behind the cryptocurrency can be registered and have such status. There might be something to this that I don’t understand. However, it appears that Octoin might be trying to give a bit more status to their coin than is really the case…
The first paragraph of the release says that the value of octoincoin (OCC) is rising and indicates that the current value of it (at the time the article was written on April 30) was $4.41. So, naturally, I decided to check this against what the Yobit exchange says. This, you will remember, is the exchange by means of which I have obtained values for the value of OCC in the past. On April 30, the closing value for BTC/USD was 9,398 and the closing value for OCC/BTC was .00024544. Multiplying the two numbers together, you get that one OCC equals around $2.31. This is roughly half the value that Octoin reports. However, I have no idea where their information came from. Our last readout of the value of OCC was on April 17 and we reported on this in News Commentary #410. At that time, we determined that one OCC equaled around $1.79. So, it DOES appear that the value of OCC might be rising slightly. We’ll keep watching it and will keep you posted. I wonder if and when it will ever reach $100, the arbitrary conversion rate that Octoin used when it converted investors dollars to OCC?
OctoinCoin is officially registered! The rate is rising
We are pleased to announce an increase in the price of OctoinCoin. At the time of writing, its price is $ 4.41, the overall trend is positive.
What is the reason for this? – you ask. First of all,it is connected with the fact that the company is now officially registered in Indonesia, which gives people more reasons to trust OctoinCoin. The impact of this event is very significant, since many holders of OctoinCoin work in the Indonesian market.
Secondly, let’s not forget that OctoinCoin temporarily traded at a level below its real value. Therefore, increasing activity is a natural and understandable process. We will do our best to continue it.
Also, we have news that relate to the process of cooperation OctoinCoin with large crypto-exchanges. Unfortunately, OСС did not get to the Indodax voting list. However, we will definitely participate in the next voting, which means that we have more time to prepare for it, and you will have time to register on Indodax and undergo verification. We will certainly continue to continue working to ensure that OctoinCoin appeared on the most serious trading floors and exchanges that work with crypto-currencies.
OctoinCoin – your reliable partner in the cryptoworld!
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