Zetacoin’s price rose 500% during April, buoyed up by rumors of a big announcement. Some information has started to surface about what this announcement may entail. David Gilbert, writing in the International Business Times, reports that in an open letter to the cryptocoin community one of the people behind Zetacoin, @TConspiracyChef, reveals the basis behind the rumors. He begins by thanking the cryptocoin community for their support. He goes on to state that the main developer, Konen, had been working with a third-party on a major area of Zetacoin implementation. He explains how:
Most of you have figured out that there is something big, and that there is a third-party involved. You have guessed that the third-party is way bigger than Konen and myself. And there’s the crux of it. This third-party will not move until everything is 100% solid.
Although the major news has not been announced, and probably won’t be for at least a week, the information that a major announcement is imminent seems to be well founded. However, many of the more cynical members of the crypto community believe that this Zetacoin news may well turn out to be a spectacularly effective Pump and Dump.
[dropcap size=small]T[/dropcap]ConspiracyChef goes on to say:
Konen is publically the creator of Cryptr and Nobs and will not risk his business on some pump and dump bullsh*t. He has been known to be a little late with his deadlines, but he always delivers.
While there is no definite news about what this big Zetacoin announcement may turn out to be there are certain leanings to be gathered from the statement. There is evidence that this announcement may well be evidence of Zetacoin’s move into the charitable sector.
This is an opportunity to draw a line in the sand and make a positive impact. Not only in the crypto community, but on the struggling communities of the planet as well.
He went on to promise:
For those of you who are expecting a quick rise, profit & dump, then the time to do it is now. What we are doing may take a few weeks longer, maybe a bit later, maybe a bit sooner. Regardless, we will still be here moving forward. But for those of you who wish to continue this journey with us? We are here. We are moving forward. With the passion and beliefs that attracted us to the promise of crypto in the first place.
Zetacoin (ZET) is a bitcoin clone and open source crypto-currency that features faster transaction times and faster difficulty adjustments.It uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. It is an experimental new digital currency that SHA256 based crypto currency enables instant payments to anyone, with quick difficulty adjustment.
- Date of Launch: August 2013
- Type: SHA-256 Algorythm
- Supply: 160 million ZET + small yearly inflation
- Speed: 30 Seconds
- Retarget: Every 4 blocks based on last 90 blocks
- Reward: 1000 ZET, halving every 80640 blocks
- Premined: 0
- Website: http://www.zeta-coin.org
- Source: https://github.com/zetacoin/zetacoin
Zetacoin is a development from Bitcoin and if this announcement turns out to be something other than a spectacular pump and dump, it may lead to a big increase in Zetacoin’s value.
One way or another, watch this space.