Can You or Can You Not Mine Octoin?
We recently received a strange update from Octoin. I have reprinted it below and you may be able to make more sense out of it than I can. There are a lot of words and the bottom line is unclear. My gut feeling is that Octoin is having serious problems with Octoincoin (OCC) but that they still want to give their investors some hope for recovery of the coin. Some of the language in the update is plain confusing. For example, it first says that there is a “full stop of the affiliate program, mining and accumulation of OCC.” Then it goes on to say that “all users will be able to mine OCC both on personal desktop purses and in independent pools.” The first quote might be the most significant. If a person cannot accumulate OCC and that is the means by which Octoin pays earnings to its investors, does this mean that you will no longer receive interest?
Related to this, as is our custom, I took a look at the OCC/BTC and BTC/USD pairs on the Yobit exchange. At present, OCC/BTC = 0.00011999 and BTC/USD = 8540. Multiplying the two numbers together, you get that the present value of one OCC is around $1.02. This is the lowest value I have yet observed. If you look at the OCC/BTC plot of Yobit, you will see that it is now at its lowest level ever. https://yobit.net/en/trade/OCC/BTC
Attention! As of this Thursday (May 17) there are major changes in Octoin project!
We would like to inform you about the upcoming changes in the work of the Octoin project.
After the launch of OCC, the main and only goal of the Octoin project is to create the most favorable environment for the development of the cryptocurrency of our community. For this, we used both: temporary auxiliary tools (mining programs, OCC accumulations and partner program) as well as permanent tools (multi-currency purse and P2P exchange platform for OCC and other top cryptocurrencies).
OCC is a technological innovative cryptocurrency with a strong potential for development and extensive functionality. However, the foreign market dictates its own rules for the promotion of the cryptocurrencies as well as their listing on world exchanges which we are forced to comply with. The global blockchain community wants maximum transparency in the quantitative and cost parameters of transactions, thus forcing OctoinCoin to stop all auxiliary programs because these transactions are not fully recorded in the blockchain.
The update process will be launched on the afternoon of 17/05/2018 and will lead to full stop of the affiliate program, mining and accumulation of OCC. After stopping these programs, the system will calculate the accumulated coins that will be credited to the user’s internal multi-currency wallet.
Important notice! During this update, changes will not affect the work and functionality of the P2P exchange and multi-currency wallets of the users. They will continue to work in the existing mode without any commissions. We are as loyal as possible to our users. We will remain doing our best for them.
The balances of all cryptocurrencies on the users’ multi-currency wallets will be saved and available for further use.
This will allow us to move towards the chosen direction by the new way. All users will be able to mine OCC both on personal desktop purses and in independent pools, which are already being actively introduced by leaders of different countries of our Community. In addition, traders will have the opportunity to trade OCC on world exchanges in different currency pairs. Octoin team conducts in-depth negotiations in this direction.
Work on the development of the project continues. At the moment we are intensively developing our own exchange for the active promotion of OctoinCoin. Our team will keep supply you by interesting up-to-date news and hot announcements on the regular basis!
OctoinCoin is a new era of blockchain!
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