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BitLux (LUX*) Historical Price & Volume Charts
What is BitLux?
LUX or BitLux is an alternative crypto currency trying to focus on the luxury feminine market. Otherwise the crypto currency is an X11 hybrid proof of work and proof of stake with an annual rate of 10%.
Genesis Date: 2016-08-04
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|Algorithm||X11||Upated: 18 years ago|
BitLux Historical Data
BitLux (LUX*) Reviews & Critics
Find more about LUX Coin at www.luxcore.io Find more about my shared masternode service at www.luxmasternode.com..
- I like this coin, all the things they are planning, however... It can moon but the dumping potential is INSANE!!!This coin is having a-lot of trouble with decentralization. There are 3 main pools and a bunch of pools that do not find blocks often, due to their small size. Cost for a masternode is over $105,000 USD. This team is hoping that if the majority of coins are in overpriced masternodes that the coins price will skyrocket (bitcointalk), that still has not happened and likely will not. That just equates to MASSIVE dumping potential, less than 25% of one masternode worth of coins will completely wipe out the order books on all LUX exchanges, In fact my own hobby holdings can wipe out cryptopia with 3 clicks right now. To call this coin fragile is an understatement. This is why the payout change, but it is screwing over POW Mining. 34+ masternodes vs thousands of miners.... equals a select few earning 20% with no overhead as they can dump anytime they want with the remaining 80% being divided among thousands of individuals. The idea behind this seems to be to entice MN holders to not dump their coins but MN holders will just dump the earnings to pay for those overpriced masternodes instead. I'd bet 80% of all coins are being HODL'd for a price spike to dump thanks to MN's and Staking that few people actually earn anything worthwhile from. They are essentially robbing Peter to Pay Paul and they still have the low POW miner count and centralization problem. leading to my next belief about this coin.The total amount of Master nodes went from 17ish to 34+ in less than a month, however the 2 exchanges that handle LUX do not have the volume to allow people to obtain those 17+ new masternodes we've seen pop up (282,200+ coins), also with this kind of volume the price should be much higher than it is today. Go ahead and look at Cryptopia and Crypto Bridge to confirm. This is probably due to the development team mining their own coin with a more efficient miner than is made available to the masses allowing the team to hold the majority of the masternodes, or sell the coins off market causing the price to stay low. PHI 2 is another kinda fishy thing, Its to optimize AMD cards, Few Nvidia 9 or 10 series cards will see any sort of impressive improvement in hashing power or efficiency but they are not so open about that, just a little mention here and there in discord.And lets not forget the 5% premine hovering overhead (currently used for staking profits for this team). This team is seriously hogging the stakes with that 5% pre mine.That's why they are dragging their feet about the coin burn. You have to have over 2000 coins for (maybe) a stake a day... last month it was 200 coins... so that's $13,000 in coins to earn $3.90/day (maybe). Staking with LUX is another gimmick attempting to add rarity to a coin, any coin for that matter.The team is currently deciding to make their new additions "open source" or not. I am in favour of not. If they do we will see their hard work get copied and pasted just like every other coin out there. If they do not all the fudders will use it as propaganda against LUX.
- Great review, have you thought about trying to get one of the team members on for an interview maybe you can ask him in more detail about what they aim to do and give us a more in-depth idea of where the project is going after the fork marketing, exchange etc... . You clearly know a lot about the project and it would be great. Thanks
- I don't think so
- Cool ;)