What’s up with PoSWallet.com – or why now might be the best moment to get back on the posw-train.
PoSWallet.com has been in a transition phase for 3 months now and this caused plenty of problems. To understand why the price was at 20k sat once and is at 1.5k now is rather easy. People – including myself – love(d) the idea of being able to stake coins without having to worry about the different wallets (compiling them, having them run all the time, …) and furthermore being able to trade coins with a token that was able to give a more precise movement for trade then jumps between 1 and 2 sat. Finally the profit of the site got disbursed to all posw-coin holders. So the profit driven coin within an own ecosystem was showing a lot of promise and many people invested. And so the coin jumped from 100-300 in jan/feb/march to 20k, and there were enormous amounts of delusions in every which way – fudders complaining it was a scam as well as marketers talking about reaching $1 by july. We got weekly reports, income statements and new ideas presented and acted as if the ideas were already realized.
And then reality kicked in. Mostly with the delisting of PivX people started to realize, that ideas are not finished projects, the roadmap was way too ambitous to reach the goals, and that we have to have something real (ledger wallet, shops were you can actually buy something for posw, eth integration, a better ui, …) to keep the price up high. So there was the moment things changed dramaticly. People did no longer invest in the idea of PoSWallet, they invested in posw as a real thing. And there is not too many things real around presumably. Delistings went on and on (my position on that matter has not changed though https://poswblog.wordpress.com/2017/05/30/into-the-blue/), the sites looks and usability went from awesome for such a young project to meh, and all that whilst the new more pos-like dividend system never fully worked. The slack was full of fud, reddit and 4chan were even worse. And their problem was not really lying within materialist borders, but rather idealist ones. People invested in a rising posw without bothering to do their research first. So they willingly believed all the marketers bullshit, as if a single visit to PoSWallet.com and the slack would not have shown, that the coin was overpriced for its real value.When this realization struck posw got into trouble and bottomed. I personally think, that 20k sat in april was too high and partly responsible for the rather hard downfall, since an unfinished product got hyped way too early. And the value of posw increased from 100 in january 2017 to about 1.5k now. So the early investors got a good return anyways.
And this is where my predictions for posw kick in. Poswallet 2.0 is coming. I was sceptical in the beginning, but the devs and team work. There are some quite good signs, that the investment will be hyped again soon. This is stuff that happened in the background and without much announcing, but:
- We got our ledger wallet (https://twitter.com/POSWCoin/status/892604731113095169)
- ETH Integration is finished and will go online with poswallet 2.0 (slack announcement on july 14th)
Were the good ones, but the bad stuff shows us that they are working anyways:
- Dividend payout was as fucked up as never before, but everyone got his/her dividends in the end, so someone has to have worked on that
- another change in the dividend system to just pay to poswallet.com addresses has been announced – should make it a lot easier to repair the system and is requested by us law now anyways
- which goes hand in hand with the exchange being offline. Someone has to work on the legal stuff
- Communication… at least they hired a really pleasant (read as it is no sarcasm) guy to keep the slack in contact with the dev, and this guy works obviously to everyone on slack
- Everything takes for ever – is a very bad thing normally, but indicates that the work is done on other fields -> PoSWallet2.0
All in all it is not too hard to see, that there are people working on posw and poswallet2.0, the main promises (at least for me those were the ledger, coinpayments and the eth integration) have been met and the second PoSWallet 2.0 is released the price will make a jump. And since the markets still act very childish, and those people not doing their research seeing a coin on the move and just having dollar signs in their eyes are still around, they will join in on the fun again. Anyways marketing will catch us all again, because the only explaination that makes sense for why not bothering to market ledger or eth integration harder, is that there will be a combined marketing effort on all those lines when poswallet2.0 will be released. A Member of the team confirmed this on slack.
So with the posw priced around 1.5k right now, i would recommend to everyone, who has some bucks/sats to spare, to buy and just sit back and relax until PoSWallet2.0 is launched, because then there will be a marketing campaign, which is already being worked on, and has a lot more to show than the last one, which took posw to 20k sat.