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What Is The Holy Grail of SaluS?

Posted in Cryptos

There are hundreds of cryptocurrencies right now and more are being created every month. Just like penny stocks in the OTC and pink sheets of the stock market. The technology is not easily accessible to a regular consumer, but developments will make it a reality. Then mass adoption would create even more cryptocurrencies in the cryptosphere. Does it make sense to learn about all the small cryptocurrencies out there besides Bitcoin and Ethereum? Yes, we think we do. There will be some great opportunities, but most will be duds. Again, this is just some information researched on a random cryptocurrency. This is not a recommendation to buy or sell.

Is the Holy Grail of SaluS a Myth?

SaluS or SLS is described as an experiment by its sole developer. There is not much detail available on the SaluS Coin website. It is merely a landing site with a graphic background and “SaluS Coin” title centered on the webpage. No other links or information is provided there. Considering it was launched in January of 2016, with an ICO around June 2016, not much progress has been presented.

There are hints of further developments to come, including the “Holy Grail.” There was discussion about a Kickstarter campaign, tie-ins with affiliate programs, mining and multipools, cloud staking, and transaction fees. However, it has been over a year since the ICO, whereas github had no further updates or pushes in the repository since January of 2016. Lack of further development may be symptomatic of having a single developer behind a project. Kinda reminds us of “Indiana Jones and the Last Crusade.”

via GIPHY

Here are some stats on SLS (as of 6/2/17)
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SLS looks to be based on Scrypt cryptography, cannot be mined, proof of stake only
ICO of 1.0 million SLS, estimate 61.114 Bitcoin - $36,668 USD (at $600 USD per BTC - estimate in 2016)
SLS in circulation - 1.003 million
SLS total supply - unknown, inflation rate of 1%
SLS premined - 1 million
SLS market cap of SLS in circulation (@$7.97) - $7.998 million
SLS minimum to stake - 50
SLS fund transaction fee - 0.001
SLS supported by Bittrex and YoBit exchanges

Interesting Notes

  • No recent discussion regarding the “Holy Grail” financial instrument.
  • Since the inflation is 1% of the stake, only 3,000 new SLS coins have been created through proof of stake. It seems like only around 300,000 SLS have been staked and the rest are just being traded/held on the exchanges.
  • If proceeds from the ICO (about 61.114 BTC) was held through this year, the ICO proceeds would be valued at $134.4 thousand USD today (using $2200 USD per Bitcoin) versus $36 thousand USD collected.
How Would We Trade SaluS?
Contact us to buy our report on SaluS about how we would trade this project or any other project. For our past predictions, see FinTekNeeks accuracy.

Warning

This article covers a token or element in the cryptosphere. The cryptosphere is new and exciting, but changes rapidly and often in ways that do not benefit users. By the time this article is published, changes may have already occurred. Most tokens in the cryptosphere are complete scams that are get-rich-quick-schemes for insiders. Often, we cannot know this beforehand and only later discover this. A person should only trade with money that they’re willing to lose because losses are guaranteed. If you choose to participate in purchasing a token in the cryptosphere, you should do so with the full expectation of a loss and you should also expect it to change in a manner that does not benefit you. There are very few good ideas in the cryptosphere. Finally, by reading this post, you agree that you’ve read our disclosure.

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