I was looking at this Beecoin and thinking about investing in it. It is dirt cheap.
However as I was looking at the price and stuff, I saw someone had bought like 650million beecoins. I'm thinking, "If that coin rises to the value of one cent, he/she is millionaire!"
What am I missing here because I've been trying to ride the Bitcoin/Litecoin waves here recently and I've made a little, but I'm no millionaire. What say you?
The question is if the coin would hit $0.01? Its not possible specially when theres someone holding lots of it and theres no buyer of that coin.Theres no circulation and adoption which means value would really be less and incase it do gain some value that person could easily manipulate the price but 650 millions supply is really exagerated for me and i do consider it as an another shitcoin just like on the market.