CHAINCOIN: ONLY AS STRONG AS ITS WEAKEST LINK
When the Chaincoin train first got rolling, I dismissed it as just another "pump and dump", but after watching the price skyrocket the following day, despite still being more hesitant than not, I got onboard. Could it really go to $100 as Chaincoin guru Max Lee said? I didn't think it was remotely possible, but I was sure the ROI would at the very least be decent given Chaincoin's large and active community. Even as I joined in the HighOnCoins social experiment, I was positive that the insurmountable problem Chaincoin would ultimately face was human greed. A look at its rapid decline over the past several hours is proof that I was right.
While I understand and appreciate what Max was and still is trying to do, we ultimately have to acknowledge that there's just no changing human nature. How could anyone think perfect strangers somewhere out there in internetland wouldn't sell when they were looking at a 5x ROI? The answer, so we were told, was "masternodes". Anyone holding 1,000 coins could operate a masternode, and thus make residual income commensurate with the price of the coin. Fantastic! Assuming, that is, that everyone who bought in A) held at least 1,000 coins, and B) had an interest in operating a masternode. Personally speaking, I hold 40 Chaincoins, so the masternode selling point missed me completely, and it's a safe bet that I'm not the only one to whom that applies.
That said, I still "hodl", because the community Max Lee is trying to build needs people committed to its growth and survival. It might have made more sense for me financially to have bailed out around the time Chaincoin hit $6.00, but I decided to resist the desire for a quick profit that plagues the crypto market and every altcoin therein. Will it prove to have been a wise decision? Maybe in the short term, but already I can see how this social experiment will end. Whether Chaincoin goes down in flames from here or rises once again, the efforts of Max and the dedicated following behind him will ultimately be undone by greedy investors who value a quick profit today over massively larger gains in the long-term. Unfortunately, based on what I've seen thus far, such investors seem to comprise upwards of 95% of the community, and possibly more. This is why, despite the fact that we've seen what temporary unity can do by watching the meteoric rise of Chaincoin, we nonetheless can't get our collective act together long enough to profit from this knowledge. Human greed, folks. Undermining the best efforts of mankind from time immemorial.
Good luck to Max Lee and those dedicated "Chain Gangers" who tried to show what people working together can do. It isn't you guys, but everyone else who claimed to be "CHC for life!" that failed. Keep on hodling, guys and gals.