The ICO model is back, and it is getting stronger with each new day, as well as each new token that enters the market. The crypto prices are reaching the old heights once again, and while the market is not seeing nearly the same amount of hype as it did in 2017 — there is still quite a noticeable amount of excitement, particularly among the new investors.
When it comes to the new investors, they are all too happy to invest in anything, as many of them did not experience the losses seen in 2018. However, the old investors remember them all too well, which is why many are still cautious about new tokens.
Even so, there are many new ICOs announced, and while some are seeing more hype than others, all are likely to raise quite a bit of money, as optimism continues to climb, mirroring the prices of existing digital currencies. One ICO announced to arrive in the future is Hivemind ICO.
Hivemind is a P2P Oracle Protocol which collects accurate data, storing in in the blockchain, and allowing participants to use it and try to make predictions about the future of the crypto market. It aims to become the ultimate crypto performance library, with constant fresh updates, and accurate data.
As such, it holds the potential to revolutionize the emergence and diffusion of knowledge in modern society.
Users will be able to use BTC to create and participate in markets for event derivatives, also known as prediction markets. In theory, the project holds the potential to bring a lot of world-changing implications for taxation, science, corporate governance, politics, and more. It is a complex protocol, but with a clear goal of bettering the future of information collecting and distribution, and thanks to the blockchain — it will also feature transparency and accuracy.
While the project may seem quite interesting, we are sorry to say that there is barely anything that is currently known about its ICO. The ICO was announced, that much is known, and it will be developed on Bitcoin's blockchain, as a sidechain.
In addition, the token's ticker will be HIVE. Apart from that, nothing else is known about the project at its time, indicating that the ICO is still some way away. The time of the ICO is not known, the country remains unspecified, and there is still a major lack of other details, including the hard and soft cap, and alike. It is known that HIVE will act as a utility, and since it is being developed in the Bitcoin ecosystem, it will likely be obtainable in exchange for BTC, and maybe other coins in the Bitcoin family.
However, investors interested in such a project should keep an eye out for additional details, as they are bound to come out eventually, likely in weeks or months to come.
|Start||April 1, 2019|
|End||July 31, 2019|
Personally, I don’t believe in market prediction, at least not in the short term ones. Since the market is too immature, it is impossible to predict where the price is going to go next. Tone Vays, who is considered as a knowledgeable guy by some people, preached that Bitcoin had to drop to $1,500...right before the start of this year’s bull run. Maybe some sophisticated software is capable of doing that, though it certainly wouldn’t be Hivemind.
The idea that Hivemind tries to sell should appear ridiculous to anyone who knows a thing or two about crypto trading. Even the most seasoned traders tend to admit that predicting cryptocurrency prices using data or technical analysis is hardly any more accurate than looking in an old crystal ball. The market is too immature and prone to manipulation, so all these “predictions” are usually worthless, or even damaging. Moreover, judging from the mess that is their whitepaper, guys from Hivemind doesn’t seem to have any idea of how to structure information properly.
The idea of using the blockchain for storing information is as old as the blockchain itself, although the way in which this is done may vary, which gives some projects that have emerged for this purpose weight, as opposed to others. With that said, this particular project does raise some red flags.
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