Anoncoin is an extremely rare cryptocurrency focused on taking bitcoin’s anonymity one step further by creating “coin mixers” and running on the i2p darknet. That makes it one of my favorite new cryptocurrencies.
Anoncoin (ANC) Currency Review
Anoncoin’s one of those new cryptocurrencies that gives me faith there are true innovations coming in the world of cryptocurrencies. It’s not just a copy and paste of bitcoin, but rather it’s a coin that offers a perfect mix of purpose and technological advancement.
Anoncoin launched on June 6, 2013, with one over-arching aim: creating a cryptocurrency that’s truly untraceable. How? By functioning on tor and the i2p darknet and by creating “coin mixers,” which will allow users to scramble a coin’s history. That’ll make tracking coin ownership impossible.
Another feather in anoncoin’s cap is the fact that the coin will be mined in limited quantities. All told, there will be 4.2 million ANC. That compares to 21 million bitcoin. So you combine scarcity, technological advancement and the promise that the coin can still be used and traded on the darknets even if “central banks decide to crack down on the bitcoin buisness on a large scale,” and you’ve got a candidate for a long-lived cryptocurrency.
How does anoncoin mixing work?
Per the coin’s official website:
“Coin mixers” can help you ensure that the coins you received initially either from mining, purchasing, or as payment of services can be fully scrambled and thus not traceable back to your wallet. Even if the blockchain is studied in detail there will be no way to tell which coins belong to what wallet, nor any kind of ID.
Anoncoin’s Outlook
Anoncoin’s got a fair-sized community of developers, miners and administrators behind it. In the words of one of the founding developers: “It’s not about getting rich,” Meeh writes. “It’s about security and the ability to remain anonymous online. But yes, (there are) too many alt coins out there.”
One pool (Coinpool.i2p) had 488 workers online at the of this writing. A second pool at Anc.usr.io had 167. Anoncoin also enjoys wide support on a range of currency exchanges including Cryptsy, Coins-e and Vircurex among others.
Anoncoin has even earned some press at the New York Times:
Many altcoin fans are more bothered by how easily governments can follow bitcoin, because the transactions are all recorded on a public ledger. This was the motivation for the creators of anoncoin, which has been rising in value. Not surprisingly, the person behind anoncoin’s email address did not want to share his or her identity. But the person, going by the name Meeh, said the team behind anoncoin was “just people trying to help people become anonymous in this over-surveillanced world.”
At the moment, Anoncoin developers are focused on developing a digital wallet with an embedded i2p router. “This wallet will make it possible to connect to i2p and use your wallet completely anonymously.”
There are some risks to Anoncoin, however. First, the theoretical ideas behind making Anoncoin entirely anonymous might not pan out (though I doubt that as the development community seems to support the coin). Secondly, Anoncoin could itself become a target for government intervention since the overall goal of the coin is making financial transactions entirely anonymous. That said, governments could track transactions from anoncoin into another currency and vice versa. That might be enough to raise red flags that could point toward illegal anoncoin deals. If the coin realizes its full potential, governments will have to content themselves with that, as they won’t be able to shut anoncoin down altogether.
Overall, Anoncoin’s outlook is bright, and it currently earns one of our highest ratings: 4.5 stars.
Anoncoin Price Target
NOTE: This price target is entirely speculative. It’s a hypothetical what-if, so take it with a grain of salt. Because Anoncoin’s thesis makes it appealing to the Silk Road-style underworld, anoncoin could potentially become as large as bitcoin was when it was being used in part for illicit transactions. At that point, bitcoin hit a high of around $250 (and a market cap of $2.5 billion). Let’s say anoncoin hits half that mark. Then, let’s throw in another $1 billion for speculators and above-the-board transactions. That would give anoncoin a market cap of $2.25 billion. If all anoncoins were minted at that point (4.2 million), we’d be looking at a price of $535 per coin, a gain of more than 14,000% over the current prices of $3.70.
Anoncoin Fundamentals
Ticker: ANC
Official website: Anoncoin.net
Official forum: Forum.Anoncoin.net
Announcement: Bitcointalk
Total circulation: 4,200,000
Cryptocurrency type: Scrypt
source: http://crypt.la/2013/12/27/anoncoin-anc-currency-rating-review/
Anoncoin (ANC) currency rating
YoBit enables you to claim FREE CRYPTO-COINS from over 100 unique crypto-currencies, you complete a captcha once and claim as many as coins you can from the available offers.
ReplyDeleteAfter you make about 20-30 claims, you complete the captcha and continue claiming.
You can press CLAIM as many times as 50 times per one captcha.
The coins will held in your account, and you can exchange them to Bitcoins or USD.