{"id":2495,"date":"2017-11-21T04:04:18","date_gmt":"2017-11-21T04:04:18","guid":{"rendered":"http:\/\/emilynews.com\/blog\/?p=2495"},"modified":"2017-11-22T21:51:31","modified_gmt":"2017-11-22T21:51:31","slug":"news-commentary-220-octoin-first-thoughts","status":"publish","type":"post","link":"https:\/\/emilynews.com\/blog\/?p=2495","title":{"rendered":"News Commentary #220 — Octoin First Thoughts"},"content":{"rendered":"

First Thoughts on Octoin.<\/strong><\/p>\n

We just began a \u201cGold\u201d listing for Octoin <\/a>on the Emily News<\/em> monitor.\u00a0 The Company has been online since early this month.\u00a0 So, it is a fairly new \u201ckid on the block.\u201d\u00a0 According to its website, \u201cOctoin\u00a0<\/a>is an international company founded in the beginning of 2016 as a result of the merger of the strongest traders team from the UK and Singapore, and the creators of the largest mining pools from the northwestern provinces of China. Due to the merger, it became possible to realize the main idea\u00a0of Octoin<\/a>, i.e. the pooling of capitals for professional trading at maximum volumes, investments in proven ICO companies, and the use of efficient technologies in the mining of the main cryptocurrency, as well as a number of promising altcoins.\u201d\u00a0 So, it is one of many companies that offer online investment plans that are involved with both cryptocurrency mining and trading.\u00a0 Generally, I am skeptical about companies that claim to be involved with both these activities as they would appear to require professional staff in significantly different areas.\u00a0 However, Octoin<\/a> addresses this concern where it enumerates a total of NINE different departments in its organization.\u00a0 Addressing my concern, there is the Trading Department which is involved with \u201cconducting trading on top-level cryptocurrency trading grounds\u201d and the Mining Department that provides \u201ctechnical support of existing mining farms, support of computing capacity, replacement and upgrade of equipment, expansion of computing capacities and farm areas.\u201d\u00a0 So, Octoin <\/a>appears to be a very large operation.\u00a0 Unfortunately, like most HYIPs registered as a corporation in the UK, Octoin <\/a>is a one man show.\u00a0 It has one director who also serves as the corporation\u2019s secretary (there is no treasurer?) and this person also holds the single share of stock issued by the company.\u00a0 Although it is certainly not impossible, this would seem to be a strange way for a company, supposedly of this magnitude, to organize itself.\u00a0 I have set up a few non-profit corporations myself and we at least had officers and a board of directors listed on our incorporation papers.<\/p>\n