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How to buy PacCoin
What’s PacCoin and how does it work?
PacCoin (PAC), or the People’s Alternative Choice Coin, is a relatively obscure coin that’s been sitting since 2015, and swiftly inflating on the back of generous mining rewards.
Today it’s known as one of the cheapest crypto coins out there, with an enormous total supply of roughly 3.5 trillion to date, a planned cap of 100 trillion; and a devoted community that hopes to see their holdings come to fruition and make them rich, believing in its future as the microtransaction-friendly “internet penny.”
Two upcoming changes might help them on the way.
- 1 February 2018 – Whitepaper: The PacCoin whitepaper is due for release. This will outline the roadmap for what has, to date, been an extraordinarily cheap and unusable coin.
- 1 March 2018 – Coin Swap: PacCoin will redefine itself to try to break free from the incredible inflation that’s scuppered its value. It will essentially divide by 1,000, and every 1,000 old PAC will be replaced by a single new coin. So on 1 March, someone who owns 10,000 PAC will get 10 of the new coin.
Where to buy PAC
Should I buy PAC? Will its value increase?
If the PAC whitepaper fills you with confidence in the coin’s future, it might be worth buying. Or you might even get in sooner while it’s still relatively worthless, being mindful of the upcoming coin swap.
But there are some things to watch out for in the coming months:
- A marketing-only whitepaper: Anyone can make big claims in a whitepaper. You should consider whether the PAC development team actually has the capacity to follow through on any promises made. The coin’s seen little development since 2015, other than blog posts, and there are no guarantees that the coin developers can suddenly shift gears.
- A failed coin swap: Many in the PAC community are looking forward to the coin swap, and believe that it will multiply the value of each coin by 1,000 and give it some heft. Unfortunately, price doesn’t automatically reflect the rarity. The relationship between coin supply and coin value is more of a guideline than a physical law of the universe. Barring serious developments in the coming months, it’s more likely that PAC will simply continue being worth almost worthless, except in smaller numbers.
- A planned pump and dump: There’s always the possibility that the PAC developers are done and simply want to drum up some hype in order to drum up some hype before dumping their coin stashes and abandoning the project.
But nothing is guaranteed. If you have confidence in the community and the developers, and have nothing against gambling, buying PAC Coin before the changes might turn into a bargain.
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