Sprouts Altcoin ICO Review: Hodl or Dump?

Sprouts Altcoin ICO Review Hodl or Dump

Sprouts is a relatively unknown cryptocurrency with something of an uncertain origin. One story has it that Sprouts founded by the mysterious Chinese freedom fighter who goes by the alias of Mr. Egghead.

Mr. Egghead is wanted by the Chinese authorities for thwarting censorship, which may be a mark in his favor: Why get involved in a technology that is designed to be censorship-resistant unless freedom on the Internet or elsewhere is important to you and financial freedom could theoretically be considered equal in importance to freedom of speech and freedom from warrantless searches and seizures?

Mr. Egghead apparently said of his decision to become a freedom fighter, “I only want the same freedoms the Internet tells me Americans have.”[i]

Another version of the origin story could be found on Bitcointalk.[ii] The user known as bman3 was a self-described artist who foresaw one long-term problem for deflationary cryptocurrencies with a predetermined maximum number of coins: When Bitcoin reaches 21,000,000 coins, miners will find that their only incentive for keeping their mining rigs turned on will be the transaction fees.

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That means miners are very likely to boost mining fees to the point where they become just another form of bank that stands between buyers and sellers. So bman3 proposed having both inflationary and deflationary coins on the same overall Sprouts system.

Of course, the idea of having a cryptocurrency that can be inflationary and deflationary at the same time may have confused some of the Bitcointalk members who saw that post.

Not being a super technical person, I didn’t quite get how the inflationary “Flora” and deflationary “Rays” would even be able to play nice together or why anyone would want to exchange their Flora for Rays if the Rays can’t be spent like Bitcoin can. An attempt to implement such an unusual system could have been part of what hampered the adoption of this cryptocurrency.

Bman3 has apparently disappeared from Bitcointalk after accusing somebody of having stolen the Sprouts name without even bothering to implement any of the ideas he presented[iii], so he is unlikely to have been the creator of the Sprouts cryptocurrency as it exists now. This former Bitcointalk member also had difficulty finding a developer to implement his ideas, so he may have simply given up altogether.

what is sprouts ico coin

Is This A Viable Coin?

Beyond the noble cause supposedly backed by Sprouts’ alleged founder, it becomes a matter of whether Sprouts is a good investment for those interested in boosting their own prosperity.

This cryptocurrency recently jumped by more than 50% in value, which may make its hodlers happy but may also be a sign of a pump-and-dump. On the one hand, Sprouts has a new wallet; on the other, the difficulty in finding useful information of the sort you’d expect to see in a viable cryptocurrency is a legit concern for those who wish to avoid a possible scamcoin. The Sprouts forum even requires that visitors sign up before they can view activity on the forum.[iv]

Frankly, Sprouts doesn’t look promising given that there isn’t much news beyond the release of a wallet and it’s unknown whether bman3 or Mr. Egghead has ever gone so far as to talk to investors and businesses that might have been interested in integrating Sprouts.

It may be up to somebody else to pick up the ball if they want to make something out of an already existing cryptocurrency, as new support teams did with Auroracoin and Europecoin. That means Sprouts probably won’t be very useful as anything other than a functionally inactive coin that is occasionally pumped and dumped.

Thanks for reading!

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One Response

  1. Mike Dew October 20, 2017

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